"cashin' in," protecting you, starts right now. i'm eric bolling. welcome to "cashin' in." wayne rogers, jonathan hoenig, michelle fields and richard beckham joins us. when asked about the push to raise the minimum image, wage -- >> they just be able to work less because they're getting a decent wage. >> hard to believe his economic adviser just sd that. but this attack o hard work is becoming a common theme from the left, is it not? >> since when is it the government's role to try to get americans to work less? the only good thing about this is that finally the democratic party is owning up to what they're really about. they're not about getting americans back to work. they're about getting americans dependent on the government. the cbo report that just came out shows that raisi the minimum image to $10.10 an hour will reduce 500,000 jobs. the american people didn't elect their representives to come here and kill their jobs, yet that's what's happening. >> john, over the last fewwek, we've heard lefties after lefties tell us, we need to work a little bit less. but that's n

welcome to "cashin' in." our crew this week, wayne rogers, michelle fields, jonathan hoenig, who has his first out training 101. congrats to jonathan and welcome everybody. what's the biggest problem facing america today and how do we fix it? the president and his fellow democrats say this -- >> a dangerous and growing inequality in lack of upward mobility that jeopardized middle class america's basic market. that if you work hard you have a chance to get ahead. >> but do americans really want equality? what republican chris christie has to say. >> back to mediocrity. >> i don't think the american people want income queincome eq. they want income opportunity. >> do we knee equality or opportunity jt more takers or more makers? >> americans want opportunity, but unfortunately, the democrats' solution to everything is just expand the welfare state, which doesn't make people rich. it keeps the poor poorer. it doesn't lift them out of poverty. what we ought to be doing is reducing taxes, rear deucing the regulato

"cashin' in" starts right now. >> hi, everyone. welcome to "cashin' in." i'm eric bolling. senator rand paul is going to join us in a moment but, first, it's the big buzz before the game tomorrow. the president ging mixed messages in his state of the union address. he said ths. >> the smarter tax picy that stops giving $4 billion a year to fossil fuel industries that don't need it so we can invest more in the fuels of the future that do. >> michelle, why would the president go after the industry that employs millions of americans and is creating jobs? >> it doesn't make sense. he says he's in favor of trying to combat income inequality. well, how about working to facilitate energy production in this country rather than, i don't know, trying to kill it? because that's what he is trying to do. a lot of things he bragged about in his address wouldn't have been possible without the tax breaks that gives incentives for small oil companies. so what he's proposing is actually going to hu the economy. it's not going to help. >> so john, john, he proposes lifting $4 billion in tax i

welcome in to "cashin' in" this week. welcome, everybody. it was the super brawl airing before and after the super bowl. bill oeilly putting president obama in the hot seat to where his policies are taking the country. you might be scratching your head after this exchange. >> take a look at the disability explosion. it's insane. it's through the roof. you know -- >> bill, the point is we have not massively expanded the welfare state. that's just not true. >> but, wait, hold the phone. take a look at this. the number of people on food stamps is up nearly 70% since the president took office and the price we're paying for the program soaring 112% under his watch. michelle, the welfare state expanding or not? i'm confused. >> he's not fooling anyone. all the programs have expanded. did he forget he created obamacare, the biggest entitlement program? it shows that obamacare will lead to the reduction of $2 million in america because of the subsidies. so-mile-an-hours are realizing it's a better deal to stay at home, be unemployed and live off oba

"cashin' in," refusingo

cashin is touching on what i was going to get to. the problem with these disparities and inequalities, they have root causes in a pathologic lifestyle, wherein the black community you have a 70% illegitimate birthrate that has developed in the last 50 years because of the rise of the welfare state. if you have higher and higher loss of family structure like this, you get two things -- instability and chaos. that has been spreading through the community, and gives rise, ultimately, to these inequalities and disparities. you cannot fix any of that -- those problems -- with the government policies unless you fix the high illegitimate birthrate. you need to have family structure. you need parents and family. that is the foundation of a society, and that is the root cause, and that is what the focus needs to be on. if you rely on policies, minimum wage, or changing schools, it will not fix it. no government policy to fix this problem. it has to come from the individual within. guest: i agree with everything he said except for pathological

cashin is touching on what i was going to get to.he problem with these disparities and inequalities, they have root causes in a pathologic lifestyle, wherein the black community you have a 70% illegitimate birthrate that has developed in the last 50 years because of the rise of the welfare state. if you have higher and higher loss of family structure like this, you get two things -- instability and chaos. that has been spreading through and gives rise, ultimately, to these inequalities and disparities. you cannot fix any of that -- those problems -- with the government policies unless you fix the high illegitimate birthrate. you need to have family structure. you need parents and family. that is the foundation of a society, and that is the root cause, and that is what the focus needs to be on. if you rely on policies, minimum wage, or changing schools, it will not fix it. no government policy to fix this problem. it has to come from the individual within. with everything he said except for pathological lifestyle. i do not think i wou

fox business continues with eric bolin and "cashin' in." >> more and more americans lean on the government for assistance. president obama told us this. >> we have the numbers and we' going to debate it. squaller in sochi, toilets and turmoil. water unhealthy to bathe in and who let the dogs out. why this shows america still has the biggest fight when it comes to super power status. >>> and fast about your seat belts. the government's rollout plan to have the cars talk to each

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that was all art cashin but we got to make sure the poets, bill, get their due.>> you bet. >> welcome to "the closing bell." i'm kelly evans at the new york stock exchange. >> i'm walt whitman at cnbc world headquarters. >> another favorite. >> not quite the follow through rally investors may have been looking for today, but we don't have a major sell-off either. lots of volatility this morning though. the dow was down triple digits. we have that ism services number which was better than expect.

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. >> eric bolling d "cashin' in" right now. >>> taking the american work ethic and throwing it out thendow. it's the dirty little secret behind the president's big push to lift the minimum ge. >>t's time for the minimum wage to go up. >> president obama still pounding the issue. wait till you hear why these liberals want to raise it. this minimum image will give you maximum rage. >>and slamming e door on big labor. auto workers telling the ua to [ bleep ] off. there should be a wake-up call for unions everywhere. >>> and here's controversy. johnny carson' writer, why this is no laughing matter for america.

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. >> that was art cashin.hat far-fetched so if that is the case, where should you put your money right now? carter worth, let's get back to you. is this in fact a fair comparison? >> it has some of an analogue but let's try to figure out together. it was in '98 when things got bad when the russian ruble got bad but it started in asia. i want to look at a four-year chart. this is '95, '96, '97, '98. this is the s&p. in june to september, october, of '98 the s&p dropped 22%. that was associated with first in asia, then in russia and long-term capital. what happens is hedge funds exposed to these things capitulate and go bottoms up. take a look at utilities in the same period. utilities, it's not just staples or health care. specifically utilities. in the exact same period utilities were up five. so you've got market down 22% in the june/october period of 1998 and utilities act quite well. we have a similar thing going on here right now. take a look. just of late, a little bit of weakness as we know in the s&p an

we have art cashin.oday he was saying today's bounce was really half hearted and he's still looking to the employment number. that's an exclusive interview we have up right now. yesterday he got 85,000 readers in total. i'm hoping he does the same for me again today. >> he is the oracle of the floor down here. we love cashin. >> now, to balance out all the doom and gloom from mark faber, we also got jpmorgan chase's tommy lee, and he came up and he's always a big bull, and he said, hey, this drop lately, it looks to him like a buying opportunity. he's saying could still go down a little bit. he's saying he sees a lot of stocks with big discounts and he thinks smart investors, this is where they go in. so i got that three wise men motif going. you can see three wise guys or something worse, depends on your point of view, but that's what's cooking on the website. >> it is interesting that reflects people are looking at both the stories about how bad this could get and about how it could be an opportunity.

but as art cashin said, it's all about the weather.ire excuse but how much of one? time will tell. look at a month to date. yields moving up year to date and still primarily moving down and the down is still winning and foreign exchange is where all the action's at, truly. if you look at what is going on with the dollar index, you can see it's just above 80. where did it settle about last year about exactly where it's trading right now. you look at the euro versus the dollar, you can see where the horsepower's coming from, why the dollar index isn't moving so well, the euro is up on the year and if you look at the dollar/yen, yes, that's where the gains are coming from but not translating very much into the euro-centric dollar index and the euro versus the yen you can see even though all the major currencies are having a good day against the yen the euro seems to be having a bit better one. simon, back to you. >> thank you very much, rick. i want to take you live now to central europe, to eastern europe, to kiev, violent clashes in the

art cashin joins us here at post nine, director of floor operations for ubs.commentary that we're really flying blind because of the weather, would you agree? >> i wholeheartedly agree. the only hope we got today is three fed speakers and the minutes and the minutes unfortunately will be properly laundered so we won't get inside the room. we'll only hear reflections of somebody reporting out of the room. but the data is so tainted now under the perception of the weather that not only is it difficult for traders to try to guess what's going on with the economy, it's difficult for the fed, too. >> would the economy what would be driving this market, though? shouldn't it be earnings? >> well, earnings -- we've gone through earnings season. >> right. >> it was satisfactory. it was unspectacular. they did better on the revenue line that many people had thought. but i think right now it is the economy, and people are wondering where does the fed stand, will they taper the tapering. the economy shows some signs of weakness. is it all weather related? and we think, as

we want to bring in bob pisani and the great art cashin.d i'm going to sneak away back to the set. >> we'll see you at the top of the hour kelly. >> art, what do you make of how the market is responding as we head toward the close? >> i think the key indicator i'm looking at is the yield on the ten year and that's telling me that this is more than weather related. that there are deeper portions to what's disturbing the market and i think it may be things like continuing in the emerging markets and the fact that maybe some of the temporary weakness is not whether reeather related. i'm going to keep following that yield. >> in addition to concerns about emerging market that ism number notabley weaker than expected haas raised concerns about whether the u.s. economy might be weaker maybe perhaps including the consumer. we saw ford's numbers. they don't seem very worried. the ford executives said we don't think this is a big issue. we think it's probably weather related. obviously the market is not entirely buying that argument. >> i think the

art cashin nice extended chat with art which is good to have on a day like today.for us here on "squawk on the street." stay tuned for scott wapner and of course the "fast money" halftime. that is coming up after the break. weekdays are for rising to the challenge. they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on what matters. with custom communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. every day of the week. centurylink® your link to what's next. fifteen minutes could save you fifteen percent or more on car insurance. yeah. everybody knows that. did you know there is an oldest trick in the book? what? trick number one. look-est over there. ha ha. made-est thou look. so end-eth the trick. hey.... yes.... geico. fifteen minutes could save you... well, you know. >>> welcome to the show. i'm scott wapner. daily deals after a brutal january and a rough start to thi

john >> on the next "washington journal" sheryll cashin and sophia nelson on african- american history month. then nathan hultman. he talks about energy policy, the growth of hydraulic fracturing, and whether the u.s. should approve the keystone xl pipeline. "washington journal" is live at 7 a.m. eastern with your calls, e-mails, and facebook comments. >> we are very focused on the sochi olympics and we have seen an uptick in the threat reporting regarding sochi. as is what we expected, given where the lyrics are located. there are a number of extremists in the area, in particular a group that is probably the most prominent terrorist group in russia. the leader of that group last july announced a public message that he would intend to carry out attacks in sochi in connection with the olympics, and we have seen a number of attacks stemming from last fall, suicide bombings and folder grout that took a number of lives. >> the terrace are becoming more sophisticated and they're going to school and the repeated disclosures of leaks. it has allow them to burrow in and it has been much more d

art cashin is director for floor operationses at ubs.ast ten sessions. this this feels important. this feels like we're really trying to make ago of it now. >> this is. it's the most credible rebound we've seen. tried for two days with a very heavily over sold market to produce a rebound. you got a lackluster flip up on tuesday. wednesday you got no follow-through. the nasdaq closed down. then you came in today and several things happened. first of all, remember that oversalt condition because that's a natural pressure for a rebound. europe appeared to be calmer and, in fact, a bit firmer. most importantly, i believe, the yield went back above 2.7 on the ten year. and that gave a bit more credibility. i think what you're seeing here is a combination of some of the buy the dippers coming in saying it's not going to be a depth spiral. it looks okay. and some of the shorts covering. it's not a stampede, however. the volume is a little bit less than yesterday. >> it's tough, technically, from here. what happens on the s&p in particular? talk

that was all art cashin but we got to make sure the poets, bill, get their due. it's very important. >> you bet. >> welcome to "the closing bell." i'm kelly evans at the new york stock exchange. >> i'm walt whitman at cnbc world headquarters. >> another favorite. >> not quite the follow through rally investors may have been looking for today, but we don't have a major sell-off either. lots of volatility this morning though. the dow was down triple digits. we have that ism services number which was better than expected. that may have helped bring the markets back, but we are in slightly positive territory for some of the averages right now. the dow though is down ten points. >> about five off the s&p 500. 1750 is the level. the nasdaq sitting just above the 4,000 mark off 20. speaking of #moment of truth, twitter with its first quarterly results since going public due to hit within the hour. investors will get their first real look at the numbers. we'll see if they justify a stock price that's now up more than 150% since that initial public offering here that we r

art cashin telling us there was $1 billion for sale.ot of supply coming to the market at close, could push stock prices lower. the dow down 35 points. the s&p down 3.75, 4.5 points away from an all-time high. larry cantor, managing director at barclay's is with me. i know you're more the long-term perspective guy, baugh lateut ls market is acting like it's walking into a stiff wind. >> i don't really see that. i think after the 30% gain last year, we were down before, now we're kind of flat, that's pretty good with the fed tapering and the economy looking like it's slowing. if anything coming into this year, bill, i thought the biggest risk was the economy would grow too fast and people thought once the fed stopped tapering, they would start hiking rates. now with inflation coming in and growth on the soft side, everybody is believing the fed that tapering doesn't mean tightening. that's pretty good market -- thing for the markets. you have seen the fixed income market pretty stable as well. >> you take comfort -- maybe comfort isn't th

art cashin mentioning we had $1 billion to buy. a very strong market on the close. what to make of it? let's do that now. the second hour of "the closing bell" with kelly evans and company. have a good weekend, kelly. i'll see you monday. >> thank you, bill. and welcome to the second hour of "the closing bell" on this friday afternoon as we close out a week that started with a massive sell-off and now has a nice rally despite a weak payrolls report this morning. yes, monday's sell-off looking like ancient history following the biggest two-day gain on wall street since october. that's what we're just finishing up here. the dow adding 161 points after adding points yesterday. the s&p 500 up 23. so we've got rallies of better than 1% again across all three. let's get straight to it with today's panel. joining me now to talk about the big rally, the debt ceiling, our very own morgan brennan and robert frank, private investor evan newmark and from "fast money" is tim seymour. welcome to all of you. and, look, evan, we talked -- to your credit, from the beginning -- >> yo

to the same extinct i did say -- one thing i would say, josh, is that art cashin talked about the low volumes in the first hour, hour and a half of trade leading into janet yellen's testimony and he pointed to europe perhaps pulling back. not committing cash, because they wanted to hear the same things that we're talking about now as far as she is indeed doing what bernanke would do in the same situation. so i think you're going to see a continued chase here with that money coming in because people have missed it. they've missed to simon's point the stocks that did make those pullbacks. the broad market didn't make a 10% pullback but a number of stocks had. the people who missed is going to be chasing. >> that's reasonable and very possible, jon. i don't death disagree with any of that. all i'm going to tell you is this is not the same internals as we've seen in prior pullbacks and recoveries. and leading sectors this year is the gold miners. >> i'm glad you mentioned gold, josh. pete, what do you guys make of what's happening in gold today? >> i think it's impressive based upon the m

joining us now, art cashin head of floor operations here at ubs. it's impressive, art. >> it is.ssed the headline in the report and encourage people. the household survey was rather strong. it seemed to bear up the optimistic numbers from adb. a lot of the bls number, the headline number that we see comes from guessing and assumptions. they postulate certain things. >> and adjust. >> right. and then also the u6 which is kind of all in showed even more marked improvements. the market decided at first that the headline number was terrible and said, you know, this isn't too bad. another thing, young people began working in a stronger vein. so that's something we've been looking for. >> so happy here, we're going to continue finishing up this -- this is still a rebound rally but if they can close above 1785 they can start next week. >> yesterday you were here talking about resistance levels and the difficulty we would have getting between 1770, 1771, to here. and you said there were a number of resistance level ace long the way. have we broken through all those? that's a good sign. >

captioning performed by national captioning institute] >> on the next "washington journal" sheryll cashin and sophia nelson on african- american history month. .hen nathan hultman is live at journal" 7 a.m. eastern with your calls, e-mails, and facebook comments. new development in new jersey where a former official said that governor chris christie knew about the lane closings that led to massive delays on the george washington bridge and that am might have been an act of political retribution. governor christie held a news conference addressing the issue. rote this.stein w governor christie's office released a statement saying this. you can watch given to christie's press conference online at c-span.org. we will bring you updates on the c-span network. >> we are very focused on the sochi olympics. we have seen it take in that threat reporting regarding sochi. this is what we expected given where the olympics are located. there are a number of extremist in that area, particularly a group that is probably the most prominent terrorist group in russia. the leader of that group last july ann

you have to hand it to art cashin.r resistant levels were. can we clear those? what happens next week? let's bring in our badge. joining me is kevin o'leary, morgan brennan, michael santoli from yahoo! finance and robert frank. great to have you here with us. michael santoli, what do you do with these markets and to the point of the s&p at 1838, what's the catalyst for the next big move? >> i said if this was a 2013 pullback, then it's over. you had sharp, she willow puall backs. people got way more scared than 5% down would suggest and i think it's so far telling you similar pattern is there. in terms of the momentum for the next move up, i don't honestly know. i think the action used up a fair amount of the energy. since february 3rd, s&p up say 5.5%. the emerging markets etf up 6%. as soon as the emerging markets calmed down, we didn't have that spillage risk, it came down. >> 1838, just so people know, we are 10 points off the all-time closing high for the s&p 500 we hit mid-january. as stomach churning as it's bee

does that become the theme or will we be able to retest these highs, maybe break out above it as art cashin put it earlier, we'll need a close above that high for the bulls here. >> you know eventually traders will become impatient enough they will just throw in the towel. we'll see what happens here. >> and we'll also get a read of the market, economy, and banking industry with two heavy hitters on deck. gord nixon will join us exclusively along with investing legend john calamos. >> see where he finds investment opportunities. these shocking photographs from one of the richest towns in california, we've obviously blurred a few things. athert atherton, residents have included meg whit man, eric schmidt. they have been vandalized with anti-wealth graffiti on various homes and cars. we have a special report coming up on that. >> here is where we stand. the dow is up 13 points but it has been back and forth across that line just in the last hour or so. now, the nasdaq, take a look, is adding about a point, 4289 is the level. and the s&p 500 is fractionally lower at 1848. the intraday high for

art cashin head of floor operations at ubs, art is joining us now. may be disappointment already in the market. >> i think it indicates the rather high standard they are looking for. when the text came out the yield on the ten year went up a little bit. gold came down a little bit. the dollar firmed a little bit. all of that said that they weren't overly thrilled. they didn't look quite as dovish as they hoped they would be. >> because they didn't mention the -- >> i think that's the reason. if she had or mentioned in the text that on the other hand kind of thing, the recent weak nonfarm payrolls number is something we'll be monitoring. >> she mentioned albeit briefly global markets and recent volatility. is the market looking for more than just that. >> that was encouraging to the market. the recent statements particularly by fisher and others that market movements aren't going to back mail the fed into changing and the very fact that she mentioned it said, okay, good, at least they're concerned that if things begin to spiral -- >> it wouldn't affec

you don't get a better v-shape than art cashin standing to the left of me here. we can close above 1848, the old closing high, that's why i keep emphasize that. that will be a breakout in that reverse head and shoulders. they will go crazy if we hit closing highs. 1848. pay attention to that. finally, guys, the group that never declines. every day they keep on giving. this time pharmacyclics. every day, regeneron. look at the main biotech etf, the xbi, 27%, carl, up since january first. that's on huge gains in 2013. back to you. >> unbelievable. golden age of sorts, bob. bob pisani. >>> if you haven't heard, existing home sales fell sharply in january. at their lowst level on record. more on housing there's rick santelli in chicago. hey, rick. >> yeah, i know, always a near and dear part of what i do is housing. it was the straw that broke the camel's back about five years ago. after all the bailouts and then to think that we're going to have principle reduction. it's been 5 1/2 years, my guest, vince. 5 1/2 years since the conservativeship of the gses. the fed g