charlie gasparino trying to provide a few answers for us. e: there is no better authority on insider trading. you know a lot about those that do engage. nice to see you again, john. >> my pleasure. charlie: you meet with your investors. the sec is in the news, obviously. here is what an as aco official said during a press conference. they have received notice from staff that it could bring charges against capital advisors and a control person as part of its investigation into the insider trading. they have referred to the full commission that several charges could be filed. nine times out of ten, the staff's recommendations are heated. does that mean that they could be seen their final days? >> i do not know if that will happen. do understand that most notices produce a settlement, even before the commission votes on anything. it is really an invitation rendering settlement talks. the unique thing about sac is it is 60% or more owned by its owner. it will not be quite the same run on the bank problem that would arise at other hedge funds wher

charlie gasparino has new and exclusive details. charlie.re you into cooperating is to say, listen, pal, we believe you are working for an organization that commits crimes regularly and is not much different than organized crime. senior investigators at the fbi are doing this. they are pulling out a mob charge when they talk to witnesses. are we saying steve cohen is a mafia leader, no. he denies it, of course. the worst thing he could say is trading at insider information. as you know, i always said it is a victimless crime. i have a problem with this whole thing. it is what it is. clearly, the fed thinks it is really bad stuff. they either approach witnesses with this stuff were when the witnesses come into office, they pull out the thing and they say this is where we think steve cohen is at the top and this is where we think you are in the context of all of this. a chart that looks just like a chart that describes organized crime. we ran this by the officials that sec capital. they have no comment. the fbi has no comment. obviously, they

charlie gasparino has been doing some reporting on that. he will be here to give us the very latest. first, let's look at oil. ♪ connell: markets now. heading back to nicole petallides. we do it every 15 minutes. nicole: take a look at zales. they come out with a loss that is worse than expected. the stock is getting pummeled today after the numbers that are coming out. they did not meet the expectations. citigroup, interestingly enough, are talking about the fact that they are still bullish on the company. they say they have inventory on hand for sale. their sales trend growth looks good. citigroup is out there and being very bullish. this stock is down 30%. back to you. dagen: thank you. save the twinkie. well, not quite. hostess and federal court right now moving forward with its plans to completely shut down. this will cost within 18,000 jobs after a mediation session failed to resolve any contract disputes. the u.s. bankruptcy judge during a hearing yesterday that the party off for a last ditch effort. hostess back in court this hour w

charlie gasparino joins us next. melissa: step back off the ledge, twinkies are expected to survive. the hostess brand in court today. the latest on that just ahead. >> 21 minutes past the hour, and lorne greene with your fox news minute. the bloodshed rages on along the israeli border as attempts to negotiate a cease-fire. a source close was really prime minister that yahoo says israel is planning a ground invasion but prefers a diplomatic solution. they say w israel has to given o certain demands. german officials that turkey is about to formally request missiles to defend against syrian attacks. claiming if approved missiles would be for defense, not creating a no-fly zone in syria. syrian rebels have called for a no-fly zone following the continued airstrike. and new developments in the search for possible new york city serial killer. the fbi and n.y.p.d. now looking for four potential witnesses after they respond on surveillance cameras around the area. the three victims were all middle eastern shopkeepers. thos

liz: charlie gasparino, 26 minutes before the closing bell rings. you can bet charlie will be on this story. we will be right back with much more. dow jones industrials trying to pare the losses here. down just 18 points. can we make it to the flat line? we will see. don't move. robert: i'm robert gray with your fox business brief. shares of groupon are surging today after a hedge fund purchased a nearly 10% stake. the purchase is a sign that at least one big investor has confidence in the on-line deals company. with a long list of resignations at zynga continues to grow. all things digital reporting vice president of business development jonathan flesher has stepped down to spend more time with his family and pursue more opportunities. during his tenure at zynga he sealed deals with yahoo! google, msn and aol as well as worked with celebrity endorsements including lady gaga and snoop dogg. his last day was november 9th. news corp. has acquired 49% stake with the yes network. it can buy additional stake in the network after three years. that could br

liz: charlie gasparino, thank you. your tie now is appropriate now that the segment is over. >> okay. liz: closing bell ringing in 27 minutes. confidence among you the u.s. consumer hitting a five year high this month but with the fiscal cliff looming and employment on the rocks, which retailers will come out on top this holiday season, and should you be buying their stocks? joe feldman tells the advisory group managing director and senior analyst breaks down his retail winners and losers. that's next. -- telsey advisory group managing director. that's next. robert: i'm robert gray with your fox business brief. it continues to be a strong day for stocks with investors optimistic over the fiscal cliff negotiations. solid housing reports also pushing equities higher. the dow is up almost 1 1/2%. solid gains across the board. well, the twinkie may live on after all. the u.s. bankruptcy court judge says hostess and its unions have agreed to mediation in efforts to reach a deal over his concerns about job losses. the judge

nobody's been doing a better job on this story than our charlie gasparino. he's joining us now with the latest exclusive details. >> why do we do a story like this? we're not trying to be monday morning quarterbacking here, but there is a public service here. the markets i believe need to be opened at some point. need to be opened without people in harms way. firms and exchanges need contingency plans. they obviously didn't or at least a good enough one. that's why they had to close monday and tuesday where the value of corporate america was put on hold. it was only two days, liz, but suppose it was two weeks, that would be a real issue. we hope they move forward. that's why we're doing this. let's go through just the chronology on what happened when everybody knew -- when did you know superstorm sandy was coming? liz: well, certainly last week. >> yeah, that's what i'm saying -- liz: midweek if not earlier. >> i came back from dallas on saturday because on thursday i knew this thing was happening. so the exchange knew it was coming as well. all the exchange

charlie gasparino has a surprising answer coming up next. liz: here is your fox business market check. utilities sector down nearly 1% today and as you can see with the dow jones industrial getting hammered down 159, close to session lows. here's the spider utilities index, down $0.24. a tough day. check out these stocks hitting 52-week lows. con ed reporting sandy restoration cost up to $500 million. it had some of the con ed blowing up, a disaster as you can imagine. how worried is congress and the president about another ratings downgrade of the u.s. credit if they fail to put together a budget deal for the mounting debt? goldman sachs had, charlie gasparino. >> i did not hack in, i got a number and i called the number and it worked. it was really good. former democratic senator from louisiana, former republican from mississippi spoke pretty candidly. he did not take questions, goes like the moderator led to a series of points. they went through the various issues of the fiscal cliff open to deal with it at least in the short term solutio

charlie gasparino is live from the exchange. his morning, charlie charlie: it was a thrill. i have witnessed it many times. it was an amazing -- it is why the new york stock exchange is the new york stock exchange. i do not think you could replicate it anywhere else. he is a pro. that is all that matters. let's get to the story, which i think is pretty big. the election. everyone is talking about a tight election. everyone is making wagers. i am talking to wall street executives. ceos and people write under the ceo. here is the unanimity that you hear. president obama will be reelected did why did these guys know what they are talking about? people in washington to lobby us, they care about who is going to win the presidency just as much as anyone else. they are all huge supporters of that romney. they are not saying this because i want president obama to be reelected. everything they are hearing is the likelihood of an obama reelection is, you know, as far as a concern, it is almost a certainty. let's throw some caveats out ther

charlie gasparino, great reporting as always.sgiving festivities have begun and off to grandmother's house we always go. over 39 million by car, 3 million will hit the friendly skies, so everybody get to turkey on time or does mother nature have other ideas for us? janice dean is in the weather center with what we can expect. happy thanksgiving. >> to you as well, melissa. we're still looking at airport delays. chicago had so much fog, there's a backlog. significant delays for detroit and st. louis as well as kansas city, oklahoma city and houston as well. call ahead, certainly and pack your patience as they say. looking at the northeast, new york, moderate delays as well as philadelphia. in terms of the weather, mostly country is quiet except for the northwest slammed with storm after storm after storm and it will continue to linger into the weekend with the rain and mountain snow. and then it will dry out into the new workweek must that is the good news. wednesday travel looking really good for much of the country with the exce

charlie gasparino, coming up. you need to stick around. this is america.e don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur liz: charlie gasparino has breaking news on the bidding war for knight capital. charlie: they are meeting, from what i understand, right now. within the last minute to discuss the periods. here is what is really interesting. officials there are prepared to sweeten their offers, if they need to. geico has half stock, half cash. the other has not publicly announced their bid. believe me, i have. they are not budging. it is somewhere north of three dollars, all cash. they know they may have to sleep in it. they do not want it out there totally. another part of the game is that the board of knight capital will come back and answer. both, virtu and gecko, looking to receive some sort of answer about the bid.

chairman and ceo many people talk to charlie gasparino. >> in the women running wall street firms? 're telling gasparino that obama will read -- will win reelection but now hours before they're saying some pain different now we have conflicting signals. >> i got a little detail from each camp i cannot read the teleprompter. every wall stream -- wall street firm thinks it is done in order for romney to win he has asked to take a higher. at the scenarios are less and less. but the romney people tell me that they are banking on low democratic turnout and evangelical enthusiasm. the obama people david axelrod point* blanked blanked -- point* blanked say it is done. telling elite obama's wins. it is over. that said there is the romney rally out there. it is bizarre. service stocks, coal stocks stocks, a defense contractors, financial's. obama is an tie coal. financial's? dodd/frank with mitt romney he would roll back parts. defense contractors? then you have the fiscal cliffs scenario the automatic cuts are going. it is pretty interesting the market is a pretty good predictor. liz: boein

charlie gasparino with the scoop on who got invited and why. >> i thought it was about time they invited people who run small businesses, people who are most targeted by the tax increases. take the fiscal cliff stuff out, obama taxes target small businesses, let's say have you a small, not unreasonable you make around $500,000, you. we like 15 people. you raise their taxes, they will lop off 2 or 3 of those people. neil: who are these small business guys that got in. >> i'm sure some of them have -- you know, listen, not all small businesses are monolithic. neil: who are big business guys. >> lloyd, just so you know, i know him personal, saying how great the president's plan is, ear something like warren buffet, they made so much money already. what do they care if you take of their taxes a little bit. james gorman that runs morgan stanley, i really like, said put pressure on congress to get a deal done, i am sure that that james would not care if they raised upper rate on people, but morgan stanley still pushing for certain deducts that help business, i would be careful with listening t

so charlie gasparino saying they're saying they're being investigated. speak of the statement is really just a generic public-relations statement. are they being investigated? i would have a tough time producing it from that. charlie may have looked at something i'm not looking at. gerri: do you believe it is possible there is a case being built against him specifically? not just this one trader, who seems to be at the nexus of all this, but his boss, ultimately. >> i think the government is giving off signals, but they are looking at everything surrounding that trader. i think that means before they're finished, they're going to satisfy themselves whether or not they have a case they can bring. i think it is very logical to assume anyone that has even a small attachment to these activities will have been put under the microscope. >> if they have been implicated, they will certainly be concerned. the doctor is the one who turn around and specifically said i'm going to be speaking at a medical convention of the phase two clinical trials. you have it right

charlie gasparino first reported hurt eminent departure.edge fund manager accused of gauging the most lucrative insider-trading scheme never has been released and $5 million bail facing a charges for allegedly obtaining confidential information of a clinical trial for the alzheimer's drug from the university of michigan neurology professor. nasdaq the only major average in the green. dow jones industrial average below 13,000. tracy: oil closes down $0.54, all loss of more than half of 1%. with a two day streak of gains. it was thanksgiving weekend. it was a record for hollywood with the strong showing of "twilight" breaking don part to an sky9 fall. it the previous records and dennis nail covers the story. >> and a vampire and a secret agent and the dead president with a new president -- breaking a new record. $30 million more than set in 2009. in the fifth and final entry to the serious took and 64 million fast-talking is up and now ii is up well past the $3 billion mark the 23rd film of the team's bonds series sky9 fall now taking an 800

senior correspondent charlie gasparino have a latest. charlie: i am not likening him to that. as i have set i think insider-trading is a victimless crime. although you do go to jail for a long time if you trade on material nonpublic information. the feds believe there's a lot of that stuff going down at sec capital. fox business has learned they are investigating steve cohen and have been for many years and we were first report that in 2007 they tapped the phone and got a court order to tap the phone in his home where he conducts his business. lot of interest in him. the interest is so high, they really do believe this is a problematic firm, and news sources close to government investigators and the fbi has an organizational chart of sec capital, it looks just like one of those mob charts. we are getting this from senior people close to the investigate including witnesses they're trying to coax into cooperating sometimes in doing this when they do is they say listen, this is where you sit in the organizational structure, here is the guy at the top and the pullout big chart whe

neil: thank you, buddy, charlie gasparino. former minnesota governor. now financial service round table president ceo. governor, maybe charlie and i were over reading the president's remarks, but i heard in them, through them and talking with surrogates today, it is a rate hike orin nothing, what do you make? >> it early in the discussions, and everyone has to put out first marker and negotiation, it is concerning because the clock is ticking, i hope that president signalled a marker. neil: i don't know he was, i don't know he was that is -- you know why, because people, the gardner i was telling charlie bthey feel they look like they ran away from republicans with tails between their legs two years ago by agrees to extend bush tax rates and now that he has won the reelection, he is just not going to did it. >> look we wan we a constructive bipartisan solution, and republicans have said they are willing to put revenues on the table. not rate increases but deducts credits and being reduced. and president said signalled high will open the door on entitlem

david: liz, coming up next, charlie gasparino has some exclusive breaking news on a possible sale of irm knight capital. you don't want to miss charlie. he is coming right up after this. liz: charlie gasparino just ran down to the set to join us with exclusive details and breaking news of a possible sale of the troubled firm knight capital. >> right. what we know now tom joyce is looking across wall street. he is essentially shop being the firm. semitechnical term. going across wall street looking for additional bidders. we know there are two bidders. a high frequency trading firm get-go. we know as of today tom joyce is looking for other bidders across wall street. whether he is successful or not i can't tell you. he is clearly looking to get the price tag up. it is his fiduciary response hablt to do that. shares are $2.97. near three bucks. there is takeover talk in the stock. this is what he is doing right now. virtu and gekko are supposed to be putting bids in for the firm. as early as tomorrow. so what joyce is doing out there is going across wall street looking for others, basic

charlie gasparino is next. >> some concerns about greece and europe, markets opened lower.we shot higher. home depot a nice leader of the dow. now we're back in the negative again. this has been happening the last ten minutes. right now the dow down 23. nasdaq, s&p, russell 2000 all going into the red. still a lot of concerns about the fiscal cliff. now, charlie gasparino has been listening into one of the most important events today, the goldman sachs call on the fiscal cliff. former senators briefed goldman. >> the call itself was pretty positive, i should say. they were pretty positive on at least avoiding the fiscal cliff and possibly getting a tax deal in the future. i will give you some of the highlights. you know, i'm going to probably have more on foxbusiness.com. n a little bit. -- in a little bit. what they say they are going to come to some short-term deal. whatever that is, both sides know the market reaction to not doing anything is going to be pretty severe. you know, just getting those cuts, given the fact we have 2% gdp growth is probably not good. there wil

here is what happened: charlie gasparino said the marathon could be canceled, in fact, we do not haveirmed, because of sponsors that want to pull out so the sponsors, some of the sponsors and i don't have details, i have what charlie gasparino is reporting on fox business network, we will get to the bottom of what this is, but you must know this is politics. the mayor of new york city endorsed yesterday so that is in the mix here, too. i am trying to imagine after katrina and they could not have layed a game at the superdome because there was no way with the superdome flooded. on thursday, the brooklyn nets were supposed to open with the new york knicks at the new center in brooklyn. if you have been watching you have seen the lines of people that are waiting for buses to get from manhattan or brooklyn to manhattan. so they canceled that. but the mayor said this goes on. it means hundreds of millions to the city, is that something we ought to think about? >>guest: well, the mayor is a great mayor and i understand his position, and he is a billionaire and does not take a salary and giv

six owns charlie gasparino, thank you so much civility i hope not. would be a great story. lori: i think charlie should be the czar. i would buy popcorn and go sit there and watch. melissa: we would have to bleep the whole thing out. i think that would be the problem. there would be so much profanity. charlie: your kids could not watch. seems on they would have to put it on hbo or pay-per-view. lori: i love it. [talking over each other] president obama is promising compromise on fiscal cliff talk, but at the same time very firm on some very key speaking points. copper price obviously includes higher taxes by way of the president. melissa: pp reaching in agreement related to the oil spill. we will take a look at some of today's winners and losers as we head out to break. we will be right back. ♪ lori: stocks are paring deeper losses with the dow down just 20 points. let's get an update from the floor of new york stock exchange with nicole petallides. bp and department of justice reaching a record payout agreement for that 2010 gulf oil spill. >> that'

dagen: charlie gasparino says it is a waste of time.to tell us why. >> these meetings don't produce anything. the president doesn't care what business leaders think. he has an agenda. you know he doesn't care by the fact that her erskine bowles as we were first to report basically offered himself up as the chief negotiator for these talks between president obama and congress, bipartisan guy, both sides of the aisle and he said no way at least so far. erskine bowles is doing a media tour. if you cannot do a deal or a.erskine bowles to a major role, and this is a guy who is a perfect go-between for both sides. this is a photo op, shows you how low corporate america has sunk. and the dog and pony show. do you think it changed his mind? >> none of that -- charlie: i think the president is more emboldened. he wants 50% of the vote and got less votes the last time but he is more emboldened. he is wearing a -- living in another world. we finca we will hit the fiscal cliff. there are certain things you can bet on, fat tuesday went on the air an

charlie gasparino has a lot more.ie: this is from what we understand a semblance in the neighborhood of $250 million. about half of what goldman sachs paid in its own case of where the sec alleged violated securities laws and peddling talks and securities, jpmorgan, you have to look at a lot of ways. there has to be jpmorgan specific activity that occurred during the financial crisis that most of the charges from what i understand will be relating to what is going on at bear stearns. jpmorgan took over bear stearns in 2008, first financial firm to collapse in the financial crisis. a lot of stuff involved bear stearns and that is why one of the reasons why it is a lot less. jpmorgan took over bear stearns and asked -- [talking over each other] dagen: down their throats -- charlie: the president of the united states, hank paulson, head of the fed, tim geithner, all the major financial company save please do this and you have two days to do it which is what went down you do it. and what you are liable for, is part of thi

charlie gasparino has the list. >> this is a preliminary list. the final list is when they all show up. according to the preliminary list a lot of usual suspects, some people that were there the last time. remember the president spoke with i guess business leaders when he first got in 2008. that included a lot of bankers. i believe jamie dimon was at that gathering. jamie dimon is not at this gathering. the closest thing you have to a banker the ceo of american 3 express is theree john rogers. we should point out the others are ceo s of: >> they are also worried about the debt problem. we have 16 billion dollars in debt -- excuse me, 16 trillion dollars. we wish it was billion. 16 trillion and growing. and so that's what this is all wrapped up on. again the list is kind of usual suspects. jeffrey immelt, somewhat interesting in the sense that behind the scenes he told friends and we were first to report this that he was actually supporting mitt romney. as you know ge gets a lot of perks if the obama administration wins, solar, green energy and st

charlie gasparino told you it was coming. lori: stocks quiet. not a lot of drivers.ou can see the dollar, a little bit of change. 1.27 is the exchange rate with the euro. we will be back right after this. ♪ >> 21 minutes past the hour. i have your fox news today. new details emerging now that forced david petraeus to quit. fox news has learned that the fbi is investigating whether the mattress revealed classified information she only had because of her relationship between petraeus. that sensitive information may contradict information he presented on benghazi. a house exploded in indianapolis killing two people this last weekend. a faulty furnace could be the cause. the deafening explosion forcing 200 people from the area. police in boulder, colorado, charged a student wwth five counts of menacing after he wore a joker mask inside a movie theater. moviegoers started to flee. those are your news headlines. back to melissa. melissa: thank you very much. we do have some breaking news. lori: the u.s. judge rejecting deutsche bank's. to -- deutsche bank had been sued ove

. >> charlie gasparino?e firms are sponsors they tell me the new york city marathon they believe is canceled. do we have confirmation? we do not. there has been an uprising in the city. personally i think they should have it. at some point* we have to get back to normalcy but is hotly debated. in the financial community people are hearing it is done in. it one not have been. you often do it. >> i have run it go but it kos his days causes massive gridlock it is hard enough to get around. >> and is probably the distinctly impossible. the trading desk is usually right. of the mayor's office has not commented but the trading community affirms our sponsored so they have good intelligence. i heard that tiger woods was making his comeback but how did i get that? he has sponsors on wall street. they are generally good. liz: it goes over the bridge than other bridges and first avenue, the entire length then through harlem and down fifth avenue and central park we already have a dangling crane causing reebok. >> i liv

charlie gasparino has the news calling in. >> the devil is always in the details. here's what we know after president obama reelected, it was definitely reaching out. white house officials and bank executives with the white house saying the president is serious about dealing with the deficit and the fiscal cliff and he sees it as a legacy issue. this was not, these were not acrimonious calls because banks leaned towards mitt romney in a big way. maybe there is, but i am telling you replacing two bank executives and labor coming out of the white house. these were senior people inside obama's administration telling the bank executives yes, we are as you know, the devil is always in the details. who is going to be treasury secretary? that will go a long way determining how the fiscal cliff deficit issue is sorted out. odds-on favorite is the chief of staff, people say the simpson-bowls tax reform plan is still in the running. if he gets it, you will see an interesting negotiation. bowls is probably the most favored democrat in the house and someone republicans feel is

. >> charlie gasparino comes rolling down the fence, dumps six points. i have been talking up this market forever. liz: one fast-food company may have been off more it can chew in china but lauren simonetti at the stock exchange. >> yum brands warning of a drop in sales in chhna, their biggest market this quarter, but the reaction down 10% at 6684 for the owner of taco bell, pizza hut and kfc. as one person is saying the stock is oversold because yesterday they were at the highest level ever. the research firm says the media is creating a china scare, yum brands of our diverse and it is a good pick for the long term but nonetheless second biggest loser on the s&p 500. liz: we like the leadership there. thank you very much. the battle over night trading, beaten down brokerage continues with two names, virtue and get co continuing their fight for the brokerage firm and this matter to the viewer why? charlie: it would be nice if they put my entire costs in to set up the story. i don't know what happened here. get go and virtue and possibly -- and possibly -

charlie gasparino working his way down here.ged with misleading investors and what it might mean for stocks going forward. stay tuned. from currency tring for a few to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. will. >> this is a test liz: here is your stock and market check. can we hold onto this for the next 33 minutes? the first day in a long time. we have seen the selloff in the past seven sessions. check out some of the tech names in the s&p 500. driven by the pc demand. let's switch to hewlett-packard. hitting new lows today. tough time for tech stocks. at least at the moment. four years after the financial crisis. the banks are still having a tough time. regulators keep ringing cases against the big banks. he made jpmorgan paid about $200 million. we were the first to point out jpmorgan today, people close to the burgeoning investigation, this is a mockup of a financial crisi

if you were watching us, you would know that charlie gas pa re -- gasparino yesterday was first to report that wall street already priced in president obama's victory before the polls ever closed. up next, charlie tells us where your money might need to go post election, especially with that fiscal cliff looming. you cannot afford to miss charlie. he's charging his way like the bull that he is, down the stairs to the set. from 17 billion chips worldwide to a world of super-connected intelligence. e potential of freescale unlocked. nyse euronext. unlocking the world's potential. to investing with knowledge. the potential of td ameritrade unlocked. nyse euronext. unlocking the world's potential. you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once emptfields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us ban

charlie gasparino first reported shapiro's up archer.ma intends to have -- step in when shapiro steps down next month. unauthorized trading by u.s. customers. customers were allowed to trade on the future prices of commodities of other items. macgraw hill is planning to sell its education business to apollo management for $2.5 billion. that is the latest from the fox business network. giving you the power to prosper. ♪ dagen: president obama and house speaker john boehner talking about a solution to the fiscal cliff. this coming to us from our partners at the "wall street journal" this hour. connell: the discussion about whether or not to raise taxes. some talking about abandoning their pledge. we spoke earlier with grover norquist. >> for the last 20 years, they have all kept the pledge. just me, the pledge, however, in the tax issue are very, very powerful. connell: do you think they will keep it again? >> i think they will keep it again. connell: that brings us to the judge. judge andrew napolitano. >> my thoughts are that some republ

portfolio manager charged with insider trading now steven cole went tries to stop the bleeding and charlie gasparino has exclusive new details. melissa: will taxing americans to make over to under 2000 per year make a dent? we will do the math. it is not at a gnat. ♪ ♪ ♪ ons, but obligatio. ons, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your rtfolio. find out why 9 out of 10 large professional investors chooseshares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. and waiting in line. i don't have to leave my desk and get up and go to the po office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. itives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international.

lori: charlie gasparino will have some big breaking news, an exclusive for you. let's take a look at the dollar, see how it is at trading. during times of disaster, super storm sandy, it actually is causing the foreign exchange market to focus in on the particular currency at risk. the euro is weaker against the dollar and it will change. the dollar stronger against the yen. we are back after this. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's anothereason more investors are saying... [ all ] i'm with scottrade. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz your wish list at the winter event going onow -- buhurry, the offer ends soon. >> it is 21 minutes past the hour. this is yo

melissa: charlie gasparino has the latest details. he was pulling his hair during the last bit. charlie: i like juan williams a lot. why you have to raise taxes. it is purely a political thing to do. there is no rationality right now to raise taxes if you have 2.7 gdp growth. it does not make any sense. clearly, if you want to do a tax reform deal, or you cut the deductions and you basically get your hands around some of the entitlement, i can understand that, but why you raise taxes -- listen, you make $250,000 a year, you are not a billionaire. why a small businessman who makes $250,000 a year, maybe employees 10,000 people is treated like warren buffett. melissa: it does nothing to change the gap. rich: and it hurts you more than it helps. if he answers, honestly, he will say it is class warfare. melissa: it does nothing to close the gap. charlie: now -- melissa: i feel better. charlie: they had a board meeting last night. we put that out on fox business.com. they basically kicked the can on this one as well. they basically told virtu and getco to go back and do your due dilig

charlie gasparino has the latest on a story he wrote. melissa: the city of detroit careening toward bankruptcy, but that one way to save the city actually be dissolving it? take a look at how the dollar is faring heading out to break against other major currencies around the world. we will be right back. and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certied. international. and the mailman picks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >> right now is 23 minutes past the hour. this is your fox news minute. it has been a week and george h. w. bush still in methodist hospital with a lingering cough. the con

wall street told you so, and so did charlie gasparino.ow, what are they saying about the fiscal cliff? lori: we saw the pictures of the civil unrest going on in greece. people are flocking out of the euro into the dollar, a separate trade from all the problems the u.s. equity markets. back with more after this. >> 22 minutes past the hour, this is your fox news minutes. u.s. geological survey said a strong earthquake has hit the pacific coast of guatemala. it rocked the capital and shook buildings as far away as mexico city and el salvador. airlines are taking no chances ahead of the second major storm in the new york area just over a week. already suspended most of the service in and out of the region. american airlines will shut down services at 3:00 p.m. today. other major airlines are asking passengers to rebuild their flights for a later day. and there is one more sign that new york is getting back to normal after hurricane sandy. the holland tunnel is now open to all traffic after being closed today due to super storm cindy. those a

this is according to, well, first of all, we had charlie gasparino saying this first this morning onox business network but this is over mortgage-backed securities. obviously that date back to those bear stearns days. back to you. tracy: funny, nicole. like when i have my dinner with my kids and there is no blood, i call that successful and constructive. that is kind of like what happened today. see you in 15 minutes. speaker boehner laying out a framework to help solve the deficit problem and avoid the fiscal cliff while meeting with president obama and of course other congressional leaders this afternoon. rich edson at the white house with the latest. rich, a little kumbayah going on today, huh. >> it is. we don't have that many specifics yet. we're early in the process. house speaker john boehner proposing a fame work. settle revenue targets for tax reform in this process next few months. entitlement saves next few weeks. then you write all the details. we're missing bulk of details what they could be here. the negotiations just started but we have a very encouraging optimism. >>

and as our own charlie gasparino first reported, mary schapiro stepping down as chairman of the sec.fficially leave office on december 14th. she ran the securities regulator for nearly four years. president obama will appoint current sec commissioner to run the agency. all right. now to our top try. warren buffett support for raising taxes on the rich takes a controversy in its turn in an op-ed in today's new york times. the billionaire investor says let's forget about the rich in culture ridge. income is increased. forever for see investment of the charities. so buffett is on target with this. raising taxes on the rich actually have no affect on their investment behavior. let's bring in scott martin, chief investment strategist and founder and ceo of market 76. thank you for joining me. give me a reaction to this. >> i'm really surprised. i look at buffett as asavvy businessman and one who would not put a dime toward the u.s. government if he had a choice with regards to a buyout because certainly is not a great balance sheets they carry. it just doesn't make a lot of sense for me t

charlie gasparino saying that may not be the case.he people here are looking for some type of delight until they get the electricity back on. back to you. david: gasoline shortages. triggering major pain at the pump. leaving some motorists stranded. liz: just how hard is it to get gosling delivered four days after this storm hit. first oil is set to the refinery. and from the refineries, this is the path that it takes. from the refineries to storage. then for refinery storage to what is called bulk storage. then from bulk storage it is delivered to gasoline stations. important to note, there is a natural disaster, the process gets backed up if there is no electricity to run some of these stations. >> we are same people showing up with gas canisters to fill up with gasoline because the temperatures right now have been dropping steadily. down about 10 degrees. the lines are getting longer. we see 65% of gas stations knocked off-line. it is worse in new jersey. about eight out of ten destinations have no power. they started after midnigh

some people who have been really critical of the market through this who shall renameless like charlie gasparinong the new york stock exchange, saying this show, they didn't have faith in their own system and maybe the new york stock exchange is getting unfairly beaten over this. maybe they really didn't want people to go to their offices. so they said okay, we'll shut down. if the market is open and an investment firm you feel come peled to go to work no matter, what, no matter how bad the weather is you feel responsible to trade account. do you think they were good guys and now they're getting beaten? >> i think clearly, you know, the reality was is that, as the nyse does have a secondary system in arca and nasdaq is of course all electronically traded. these were tested on saturday so we could ha gone electronically all the way through. however, i think at the end of the day not everybody was 100% behind it. to be fair i think the decision was people first, profit later. i think they made the right decision to make sure that their employees were safe because that was part of the problem, meli

questions are growing on the nyse decision to close for two days, and the lack of a back up plan, charlie gasparinohere. what is with the lack of a back up plan. >> this is a disaster as you poned out before. here is what is scare beresponse scary about response ofs exchange. that plan that 14 street that knocked out all of light, that plant is problematic if they didn't see this coming, ten days ago, a problem with that plant, they have real problem, same with stock exchanges, they knew this would be mother of all storms. joe was on fox, and fox news talking about it for days, yet response came sunday night, a day before, they had a meeting and decided, said he would open stock exchange despite what was coming down, and do an all electronic exchange. gerri: why not do that? >> the brokers then complained. now and then they -- he backed -- did a 180, what did they complain about? if you listen to him, brokers campaigned they did not get eir computers u and running to interable with the system, brokerebrokers would say we do e trust in the system. i think they are all wrong. the bottom line is, new

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charlie gasparino is joining us for some answers. >> this is ceo level or near ceo level. let me tell you something, liz, this is not an official survey work a standard deviation within the margin of error. when i talked to people today at that level, what they are telling me is simply this, they really believe that obama will be re-elected president. they believe at least from the electoral college, you know, standpoint, it is going to be a fairly significant victory. and then the question is, you have to ask yourself, how do they know this? why are they coming to this opinion? i will say it's a confluence of factors. number one, obviously they all have sort of lobbyists and pollsters that are -- that they talk to. wall street did support mitt romney in a big way in terms of money. but they have to keep their poll pulse on the election to figure out how to lobby the white house or the senate or the house or whoever. i can tell you what they are saying right now, based on their read from lobbyists, from the pollsters, from people they know, their read is that barack obama

liz: charlie gasparino, the man who did cook his own turkey. >> no, i didn't, i made lasagna.iz: oh, that's right. stupid me. thank you very much. >> yeah, you know, not everybody cooks turkeys. liz: not everybody. >> you are not sensitive. liz: i should be more sensitive. charlie thank you. closing bell ringing in 29 minutes. the holiday shopping season is to retailers what the super bowl is to football, everything, well almost anyway, a lion's share of the profits. so many retailers pulled out all the stops opening on thanksgiving night. but guess what? they had some company or should we say competition from on-line retailers who aren't waiting anymore for cyber monday. how is that changing the landscape for retailers with both brick and mortar and on-line options? com score chairman talking about that, some of the best deals and what's hot. you can't afford to miss it. look, if you have copd like me, you know it can be hard to breae, and how that feels. pd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hou

fox business senior correspondent charlie gasparino is here.ama. you didn't like it. >> it was a farce. these are the biggest -- they run some of the beige companies in the world. >> honeywell, jeff immelt was there, the list. and nothing happened. they went in there. they said let's avoid the fiscal cliff. let's get our hands around the deficit. president won't listen. said this is what i want. what is really bad about this is that it's a dog and pony show. it's a photo op. and it's a photo op for the president's position. what is scary about corporate america is that they have no problem being used by the white house to advance their position, which is insane. it isn't raising their taxes necessarily. what the president's budget wants to do is raise taxes on small businesses and guess what? not a single small business person at that meeting. >> eric: let's talk about the 439,000 initial jobless claims number yesterday. it sounds very, very strange to me that the full week after the election, the number jumps 78,000 and had been trending down.