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liz macdonald with our report.ecord-breaking sandy stranding the residence of the country's largest city, forcing the closure of subways, buses, bridges, tunnels. how long before normal becomes normal. former new york governor george pataki joins us next. ♪ with my friends, we'll do almost anything. out for drinks, eats. i have very well fitting dentures. i like to eat a lot of fruits. love them all. the seal i get with the super poligrip free keeps the seeds from getting up underneath. even well-fitting dentures let in food particles. super poligrip is zinc free. with just a few dabs, it's clinically proven to seal out more food particles so you're more comfortable and confident while you eat. a lot of things going on in my life and the last thing i want to be thinking about is my dentures. [ charlie ] try zinc free super poligrip. ♪ lou: new york city, the country's largest city in assessing the massive damage from hurricane sandy. we will be joined by former new york governor george pataki to get his perspective

liz macdonald with our report.ecord-breaking sandy stranding the residence of the country's largest city, forcing the closure of subways, buses, bridges, tunnels. how long before normal becomes normal. former new york governor george pataki joins us next. pataki joins us next. ely. but because of business people like you, things are beginning to get rolling. and regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. ♪ [ male announcer ] it was designed to escape the ordinary. it feels like it can escape gravity. ♪ the 2013 c-class coupe. ♪ starting at $37,800. ♪ but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i wasaving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our compan

tracy: liz macdonald. ashley: thank you, emac. as we do every 15 minutes, we're a little late, let's check in with nicole petallides on the floor of the nyse. nicole. >> the dow is down 112 points. i want to look at casual dining stock. yum! brands. we were talking about they reported their water quarterly numbers of at bell. beat the street and expectations. yum! brands is doing well. up 8.25%. they are the parent of kentucky fried chicken, taco bell, pizza hut. they're doing well in the u.s. and talked about china saying china is actually looking good despite the fact of a tough economy over there as well, right pulling back some in china. when i did a comp chart comparing yum brand to darden, which is the parent of olive garden and red lobster, i was wondering which of the two did better year-to-date. turns out they're both up 20% year-to-date. looks like fast-food is still a hot thing. back to you. ashley: it is a hot thing. nicole, thank you so much. we'll be back. tracy: dorito taco shell. gets you every time. ashley: i'm hu

liz macdonald has been investigating, crunching the numbers. liz: it got heated. cn and moderator candy crowley asking if it is the stated objective of the energy sector to keep gas prices hy to get more consumers on to greener energy and green cars? the president saying gas prices bomb out during the financial crisis. gas prices were down even when the jobless rate was down in december of 2008 -- national average hitting $3.75 and that is up from one dollar and $0.84. very tense moment between governor romney and the president. here they are. >> we increased oil production to the highest level in 16 years. >> production on government land of oil is down. liz: that is where the debate lies. oil ppoduction is high. it is up 15% over the last three years and natural gas production up 24% over that time but the issue is about drilling. production is high but what is going on with the permits? [talking over each other] liz: let's look at what the government is saying about permits to drill for oil on federal lands and you see they dropped 42% since 2007 and they are d

liz macdonald. she's here.nited technologies, dupont, ups citing uncertainty in their warnings which are rattling wall street but some economists maintain uncertainty has nothing to do with the stalled out recovery. list liz macdonald with emac's bottom line. how can they say there is no uncertainty? >> paul krugman is writing, uncertainty scam. he is putting up a column with the headline. it is right-wing talking point that uncertainty about the president's policies is holding back the economy. he is essentially arguing we've been you there the worst economic collapse ever since the great depression and we need more government spending. hang on a second. hang on. hold your horses. we have to look what business executives are saying. i'll tell you something. nowhere in paul krugman's column is a mention of what business executive surveys are saying. this is from pricewaterhousecoopers. 1,000 fortune 500 executives surveyed. 3/4 said economic uncertainty is top risk. they cited health reform, regulatory risk and

coming up next liz macdonald with the bottom line.right back. >> hello, i'm cheryl casone with your fox business brief. the new york stock exchange has announced it will be closed for a second day tomorrow as a result of hurricane sandy. fox business's charlie gasparino who was first to break the news is also reporting the exchange is planning to reopen on wednesday. >>> meanwhile the nasdaq has just announced it too will be closed tomorrow. >>> at arco petroleum released mixed third quarter results in the last hour. exploration and production company reported an adjusted profit of 84 cents a share. they topped expectations by 8 cents. revenue of $3.3 billion was just shy of the estimates. >>> major job cuts could be on the way at ubs. according to "the waal street journal" the bank's board is considering a plan that would eliminate up to 15 lines of business and 10,000 investment banking jobs. the journal says the top leadership of the investment bank would be reshuffled. that is the latest from the fox business network, giving you t

we get the bottom line from liz macdonald.ut this because the number, keeps jumping all over the map. what do we need in order to keep up with population growth? >> tell you what, this is hot debate. look what daily kos is saying you need, 90,000 jobs a month to keep up with population growth. 114,000 looks like a great beat, right? this is based on a congressional budget office study that came out in 2011. here's the problem here's the bottom line the cbo thing reporting implies 90,000 to accommodate the fact boomers are leaving. hey, baby boomers are leaving the workforce. maybe you only need 90,000. what they ignore immigration. immigrants are coming in, when you take that into account, ben bernanke says, we need jobs 100,000 a month to keep the jobless rate stable. 150,000, to 200,000 needed to reduced the unemployment rate. hear is the bottom line. here are the numbers you want to look at. to basically get to the prerecession levels, what we saw before, you know the economic collapse, 2017 we want to hit 321,000 a month t

our team consists of peter barnes if washington, d.c., liz macdonald here in new york.e kick it off with rich edson standing by at the site of the third and final presidential debate in boca raton florida. rich, investors, what should they be looking out for in tonight's debate? rich: this is a foreign policy debate. carved up into six different sections, 15 minutes each. the final session first to take a look at would be china. china is something there has been plenty of rhetoric on the campaign trail. mitt romney said he would leave china a currency manipulator on day one. that's those who invest in importing businesses might not like to hear. take a look at what they say on china this evening. also oil. much will be about middle east. what a potential romney administration or second term of obama administration has in store for middle east. that has everything to do with oil. there's trouble there, price of oil goes up. this is a matter of president obama's policies, favor some type of stock you invest in, you want him to deliver a strong performance, same from gover

nicole: liz macdonald giving us the dollars and cents. leave out the most important thing, the lives lost, right? 26 lives lost in the states and nearly 70 in the caribbean. thanks, liz. for that insight. ashley: time to change gears. making money with charles payne. he has a stock that will drive profit in your portfolio. a little clue there. >> a little clue. ford reported today. they were chomping at the bit to put out the good news t was mixed report. mostly because your viewer but overall they beat the street big-time. they reported 40 cents. beat the street by 10 cents. beat on the top line, 32 billion versus 31 1/2 billion. hear is the story. north america was a monster. oh my goodness, 2.3 billion net. 9.5 billion. highest profit margin and profits since at least 2000. absolutely remarkable. ashley: europe they lost 1 1/2 billion for the quarter but they are taking steps in europe. they shut down at least three plants. i know in belgium in particular should help going forward. europe has been a big lead weight around their neck. >

liz macdonald will have those numbers ahead.hese girls bracing for impact as dangerous hurricane sandy bears down. we have the latest on the storm track and a live report from florida next. next as we do every day let's look at the 10 and 30 year treasury, yield dropping and the price going up in response to 1.75,-three/four% and five bassist points. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. liz: liz macdonald with your fox business brief. citigroup issuing a statement that they are pleased about the resolve that citigroup forces telling fox business mr. mahoney failed to stop the release of confidential information abou

well, joining me now to assess what is going on, fox business editor liz macdonald.se numbers are just -- how the world is a retail investors must make their way through this? when the world is going on that we can't rely on agencies that were once never perfect? >> that is right. i was always something. what the government is trying to measure a gigantic economy. the civil servants are working hard at this. a number of different administrations, 83 out of 84 have been questioned by wall street analysts. earlier in the year, they advise the analyst is as they don't look at the weekly revisions. use again the four-week moving average, which we are seeing in those numbers, 362,000, that is the lowest drop -- the biggest drop in about six months. that tends to smooth out and knock out things, rather than temporary automotive factory shutdowns and the like three. lou: what we saw smooth out they were those indexes. the markets. the markets are just rebelling. we watched today, and the professional money in there. let's be very clear about this. these are the professional

here to explain his liz macdonald. liz: the first time the department of justice has brought a suit of this time to recover losses against fannie mae and freddie mac. let's get to the details. here's what the manhattan u.s. attorney's saying about this lawsuit against bank of america having to do with countrywide loans. reckless mortgage practices spectacularly brazen and taxpayers have the bill. the department of justice basically seeking maximum damage and penalties over a loan program run by countrywide. countrywide originated $1.3 trillion of mortgages between 2005-2007 and represented a third of fannie may's book in 2007. the lawsuit imply the essentially that countrywide helped push them into the arms of u.s. taxpayers with their very reckless practices that remove the underwriters and swapped in loan processors who were paid bonuses based on volume, based on challenging quality-control of defective practice. lori: the justice department is point mr. j almost a single finger at countrywide alone for pushing fannie

liz macdonald will investigate.bad news from american airlines led to strong contract talks. as we do every day at this time let's look at how oil is trading down $2.83. under $90 a barrel. $89.06. we will be right back. >> announcer: meet mary. she loves to shop online with her debit card, and so does bill, an identity thief who stole mary's identity, took over her bank accounts and stole her hard-earned money. now meet jack. after 40 years, he finally saved enough to enjoy retirement. angie, the waitress at jack's favorite diner, is also enjoying his retirement. with just a little information, she's opened up a credit line, draining the equity in jack's home. unfortunately, millions of americans just like you learn all it may take is a little misplaced information to wreak havoc on your life. this is identity theft, and no one helps stop it better than lifelock. see, ordinary credit monitoring services tell you after your identity has been stolen. they m take 30 days to alert you-- too late for jack. lifelo has th

so you have got taxes economy and jobs as liz macdonald just said, health care all expected to dominatee less than seven hours away but who's counting. fox news contributors, monica crowley and ellis henican will join us for a preview and debate the debate next. ashley: it will be very spirited. we'll see how the greenback is doing today. see how the currencies doing against the dollar. euro is down. pound down. most of them down except the peso. we'll be right back with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [

liz macdonald is here with the bottom line. great story. liz: we spoke to darden restaurants. one of the top three employers in the country. they own olive garden and red lobster. here is what they are telling fox business about the effect of hiring. they are testing four market's going through part-time workers, i'm not full time workers and considering more part-time jobs, there's no flexibility in it at all. here is the problem and the bottom line. high cost of affordable care hitting the restaurant industry and they have half of their work force already as part time because there is a lot of turnover in the industry. 75% of part-time speaking of the shift so you are not hit with a mandate tax if you don't provide coverage to part-timers. if you are below the 30 hour work week, provide health insurance for those guys but here's the problem. we did have these planned. shea benefits plans and health reform outlawed because they did not provide the benefit level the health reform bill last for. $70 billion worth of benefits. no more to these plans. wait a second, these are gre

liz macdonald. and other file there coming down christopher hahn, next. lou: joining us now the a-team, good to have you here. let's start with you, this market sole off today, it looks very weak, talking with lewis lehrman earlier, i did not hear a lilt in his face talking about future prospects. >> looks like a little cash taken off the table there, running to the sidelines a bit, wire in a recovery of downward gdp revision, any time you see market act skittish, you might say, am i too much invested in the market, should i pullback. lou: looking at this economy, jobless numbers last week, terrific for president obama. 7.8%. yet his numbers are plumb et ceteraing plummeting. >> me had a weak, weak, weak debate last week, and these numbers are catching up to him. the president missed an opportunity to show -- point out contradition in romney's state and present himself forcefully. >> i thought romney was good, but not just that but obama of so weak. >> horrible. >> he was, i think that hit home with a lot of people, women are saying, wait we did not know

liz macdonald. and other file there coming down christopher hahn, next.discounts to thine customers! safe driver, multi-car, paid in full -- a most fulsome bounty indeed, lord jamie. thou cometh and we thy savet what are you doing? we doth offer so many discounts, we have some to spare. oh, you have a of those homeowrs' discounts? thank you. he took my shield, my lady. these are troubling times in the kinom. more dcounts than we knoweth whato do with. now, that's progressive. lou: joining us now the a-team, good to have you here. let's start with you, this market sole off today, it looks very weak, talking with lewis lehrman earlier, i did not hear a lilt in his face talking about future prospects. >> looks like a little cash taken off the table there, running to the sidelines a bit, wire in a recovery of downward gdp revision, any te you see market act skittish, you might say, am i too much invested in the market, should i pullback. lou: looking at ts economy, jobless numbers last week, terrific for president obama. 7.8%. yet his numbers are plumb et cet

liz macdonald from fox business is reporting on this already. one of the things she said is it is not like -- using our money to pay for it, not like we're getting richer as a nation because of rebuilding its your taking government money giving it to a contractor or whatever the case may be. that has come up. >> it will have an affect on gdp growth but not right away. probably be first or second quarter you will see a little of that but you are right. of the question is where the money coming from, is the insurance companies or taxpayer money, we don't have a sense of it but from an accounting perspective, it will bump up gdp growth a bit in the subsequent couple of quarters. connell: i wonder how much of a slowdown in the near-term we will see. tough to tell. you come to a place like midtown manhattan where we are broadcasting from ended is like any other day but a few blocks south once it gets dark you see a line, a line in the city with a tale of two cities. on the bridges you see lights on one side and darkness on the other side. up here the

liz macdonald is here with emac's bottom line.ou get the report and go whatever at this point. >> here's the deal quickly the problems are sudden drop in the unemployment rate. even before that revisions of the prior week jobless claims data, 83 out of 84 weeks now straight three consecutive revisions. that may be indicative of really bad recovery. we're seeing mystery state that had the supposed missing jobless claims data, california, out swinging yesterday, telling fox business which were breaking this story all day yesterday, peter barnes in the d.c. bureau. essentially saying we're not the mystery state. we've got breaking news on this for you. labor officials now telling fox business that we will release the name of this mystery state where this missing jobless claims data is. people still think it is california because of magnitude. next week, thank you. lori: not even fuzzy data. also the way the labor department is handling all of this. >> they're saying one thing and then saying another. let's get to wall street's confus

liz macdonald is here with emac's bottom line. z, what is the total dollar figure for how much was spent? >> more than one trillion dollars. both federal and state. surpass what is is spent on social security, or medicare, or defense. in fact, it is about what we spent on national defense, and medicare combined. and u.s. spending on welfare has been rising. notably food stamps you're going to see under the president, under this administration. so what happened, al bam senator jeff sessions said i want to see how many programs we have out there and what the costs are and how many there are. there were 83 that he found. that is big debate going on in washington, d.c.. lori: troops parensy will help in terms of understanding how big the government spending is. >> the debate, republicans hate the poor or government not doing enough for the poor. i it is more than a trillion dollars and 1/5 of the federal budget but 4% under jfk, wait we knee a rethink how much we spend under wealth fair. health reform, 15 million more could come to med

tracy: liz macdonald, thank you very much. a good story. ashley: thank you, liz. days after launching its mini ipad apple is set to release fourth quarter earnings after the bell today. brian white, senior analyst for topeka capital markets is astounding price target, astounding. he joins us right now. i can't set you up without the price target? >> 1111 based on 19 times next year number and net cash per share over $120. apple has grown 86% a year over the past seven years. this year alone we're modeling 6% eps growth. ashley: at over 600 bucks it is way undervalued in your opinion? >> way undervalued. tracy: what gets you there? revenue from china? revenue from iphone 5 and mini? >> there is lot of excitement. iphone is half of revenue. when you look at this iphone 5 launch the only negative has been they can't make enough. tracy: is that on purpose? >> it's not on purpose. demand is overwhelming, number one. number two, there have been yield issues in the supply chain. those will not be lost phone sales. those will occur sometime in the march quarter think. ash

here to help us is texas lieutenant governor date worth and fox business's liz macdonald. thank you both for joining us. let's drill down on this, no pun intended. i fell out of my chair during this debate. there re a lot of stats thrown back and forth. they have conflicting, they were inaccurate in a lot of cases. i want to start wit president saying production on federal land is up. according the government's own department of energy, his own source, it has dropped 14% on federal land. lieutenant governor, what do you think about that? >> i think it's a fact. it is harder and harder day to get permits to drill on federal lands. whether you're talking about the gulf of mexico, you're talking about colorado, it's harder. this is an intentional slowdown. the gulf of mexico, ich has been one of the most prolific sources of oil and natural gas is still at a lower level of activity than it was prior to the bp spl. now that was regretable, but safeguards are in place right now. so that's not going to happen again. this administration has been trying to get rid of coal-fired gen

liz macdonald is here. difference between tax cuts an tax rate cuts.s what romney is planning to do. >> that's right. there has been such a hot debate on the campaign trail about this. one side tax rate cuts reduce revenues coming in the door. they will say at the same time, we can't study the behavioral impact of tax hikes or tax cuts but we'll say it doesn't work, tax cuts, right because it is too complicated. we've been going through the numbers. look back to the kennedy administration. you see income tax receipts doubled six year as time. gdp growth hit more than 5%. unemployment dropped to 3.8%, the lowest in about 30 years. take a look at reagan. gop majority leader howard baker called the reagan tax cuts the ig riverboat gamble. look at federal revenue rises here. yes, you could say possibly due to the recovery taking hold. but for that steep incline is something that is not being picked up, i think in the analysis whether or not tax cuts actually bring in revenue. they could. also the clinton cut on capital gains actually, more than doubled cap

liz macdonald is here. liz: build a bridge over it.ike doctors are turning against president obama. met romney has a 55% to 36% advantage among doctors according to the health-care staffing company jackson held. it is the survey that is not a formal poll. 15% say they voted for the president last time but this time they will vote for romney. joining us is dr. mark siegel. welcome to the program. why are they doing this? what is the problem with obamacare that makes doctors vote against obama? >> you have to have a lobotomy if your exposition and vote for president obama with all due respect. it is not about doctors being greedy. it is about doctors being able to stay in business. doctors in private practice saying i can't afford the increasing expenses. i can't afford to handle this new technology. i can't afford all this paperwork under obamacare that says this test is restricted and we don't agree with that test and independent medicare advisory boards, pronouncements that at the same time reimbursements being cut. i have been with a

we're jned by our very own emac as we call her, liz macdonald.web. >> a-web, among other things. melissa: retired locksmith is selling these five keys for $150 on ebay. it is actually a deal. get this. the keys could knock out power to municipal buildings and skyscrapers in new york city. whoever buys these keys could control practically any elevator in the city. they would even have access to construction sites like one world world trade center. should the keys be up for sale? is that, 150 is really cheap. you could shut down the subway syste with that one that looked like a fire, you know car? that could shut down. second one from the right. that one could you shut down the whole sbway system. >> look, talk about getting key to the city literally. melissa: literally. >> what is interesting, they make all of these, we have all the plans in place to beat the terrorists and for 150 bucks and ebay you're good to go. >> you have to have go through a root canal to get a job but this guy gets keys and puts them up on ebay? pull every up with of them a

we're joined by our very own liz macdonald, david asman and paul ryan. >> came on the show to play withnother pr stunt from the elections. these little guys are going up for auction on ebay to raise money for rock the vote. do you recognize them? i'm not sure you would recognize this guy. these are the cabbage patch versions of your presidential and vice-presidential candidates and plus michelle obama obviously. fund-raiser back in 2008, the obama doll went for $8400, seriously? the sarah palin brought in, get this, $19,000. which doll do you, who do you think that is? which doll brings in the most? who do you think that is. >> with gray sideburns has to be romney. this is cabbage patch doll. i thought it was interesting sarah palin got more than obama. she was part of the celebrity culture. i don't think ryan and romney are more celebrity type people. >> palin got four times what biden's doll right here got. the obama doll comes with a birth certificate. >> there it is. we've been looking for that! holy cow! open it up. >> open it up. he. >> see what it says. >> wait a minute. indonesi

liz macdonald, charles payne, nicole petallides on the floor of the stock exchange. google, nicole. an all-time high. nicole: it continues to move higher and higher hitting this all-time high at 774. we are seeing internet tight stocks struggling but do will continue to take off. stuart: i don't know what is but well above $20 billion each. i shouldn't put you on the spot because i don't know how many billions but it is a lot of money. the big story of the day obviously is the jobs report. 114,000 new jobs created in september. that is anemic but the unemployment rate fell three points to 7.8%. you went through with this at 8:30 on the network. they don't add up. the numbers don't make sense. charles: 870,000 jobs for the household survey off the charts. this sort of environment where gdp is growing 1% the numbers don't add up. liz: a lot of those according to ray hennessey our news director small-businesses start of the people turned themselves into putting things up on ebay. can thousand government jobs created. the trend isn't going in the right direction. 200,000 jobs is what we

connell: liz macdonald is all over this story and has been in the bottom line. s could head to the supreme court. we have breaking news. we're talking to three powerful democrats, the office of richard blumenthal, henry waxman and richard marky talking about strengthening the powers of the fda and its powers overseeing pharmacies nationwide. right now pharmacies are overseen by the states. we have 66,000 pharmacies, have a manufacturing to make drugs on the road and sell them across state lines. that is the problem these lawmakers say is behind the meningitis outbreak. this company new england compound basically sold in 23 states exposing 13,000 people to be fungal meningitis problem. we are seeing the governor of massachusetts out this morning saying working outside the state licenses they are only supposed to be filling prescriptions, not manufacturing and selling but here is the bottom line. the fda only regulates the ingredients. this could be an overreach of the commerce clause which says states are allowed to regulate what they're around -- we may see a sup

liz macdonald is here with emac's bottom line. what are the private companies telling us?l. we've been looking at all sorts of economic data we want to really see what is going on with private companies because they can come to the market via ipo and create jobs. here's the deal. we're seeing sales growth dropped by 50% since january. this is according to sage works. this is indicator we saw, according to sage works back in 2008 when we saw this drop. and that's not a good thing. you want to see sales growth continue to grow up. then they can create jobs. is that a red flag recession signal? that could be one, that is according to sage works. we're seeing 27 million private companies versus 5,000 publicly-traded companies. 22 million u.s. jobs could be created if you brought more of these companies to market according to rand thornton. that is the deal, that is the bottom line. tracy: but why? same reasons everybody else is scared of uncertainty, scared of taxes? ashley: fiscal cliff? >> they are scared of the fiscal cliff. when you talk to guys that track is, grant thornt

. >> i'm liz macdonald with your fox business brief.andy's wrath is already being felt on the u.s. market. your stock exchange, nasdaq exchanges are all closed today. the futures have been halted at the cme group, but commodities continue to trade. and commodities rescheduled the earning report as result of hurricane sandy. and nick's third-quarter resul results, td ameritrade moved up its results this afternoon from tomorrow while pfizer has moved the webcast to thursday. personal spending rose more than expected in september climbing 0.8% from august. then come right in line with expectations. but his latest from the fox business network giving you the power to prosper. cheryl: breaking news continues. live pictures right now coming out of the white house to the right of your screen the storm, we're watching a statement from the president on the impact of hurricane sandy. they've actually learned in the last few moments that the press corps that was following the obama campaign did not fall the president back to washington because of

. >> i'm liz macdonald with your fox business brief.ntinue their upward trend in afternoon trading with the s&p on track to snap a four-day losing streak. congressman darrell issa tilling fox news he plans to hold hearings on the jobs data as fox business has reported that september employment data appeared to have significant differences between the household survey and establishment survey. representative issa said data collection is not as exact science as it needs to be. >>> korn/ferry was target after criminal data security breach and is working with law enforcement. the databases affected they say do not hold personal information like credit cards and social security numbers. that's the latest from the fox business network, giving you the power to prosper lori: breaking news. we want to draw your attention to the markets right now. stocks are losing ground with the nasdaq falling into negative territory. the dow only up 15, 14 points right now. we're hearing government, congressman darrell issa from california with investigate job

. >> him liz macdonald with your fox business brief.s a bearish tone down on wall street after the new york stock exchange resumed trading after a historic two-day shut down. the last time the exchange was closed for two days of weather was in 1888. the market is down 30 points. >>> shares for seagate technology also under pressure after posting first quarter results that fell short of expectations, moving forward the storage device company also forecast weak revenue for its current quarter due to slowing pc sales and lower prices. >>> on the upside investors remain bullish about the warnaco group on the news of a buyout deal. rival pbh who markets calvin klein and tommy hilfiger brands is buying the company for $2.9 billion in cash and stock. the deal is expected to close next year. that is the latest from the fox business network, giving you the power to prosper ashley: first criticism, now praise. republican governor chris christie of new jersey giving president obama high marks for his response to the storm. the president arriving l

. >> liz macdonald here. evel of importance is are candidates putting on the friday jobs report, the last report coming out before the election. >> liz, i don't think very much. i think at this point in time this pie is already baked. if you look across the country, probably about 1/3 of the voters out there have voted so far. and really, we've seen a seismic shift in public opinion and also enthusiasm, ever since that first debate in early october. when 80 million americans got to see governor romney stand toe to toe with barack obama without a net and really without the filter of the liberal media and they saw his economic plan, they heard him articulate his path for energy independence for america, and they saw barack obama for the first time in months without a teleprompter. and they realized the emporer really has no clothes. so, we have great enthusiasm in virginia right now. charles: i think you'll like that. we'll leave it right there, okay? pete snyder, thank you very much. >> thanks, charles, thanks,

liz macdonald with the fox business network has a live update on that. liz? >> reporter: good to be with you, jenna. basically transcanada is still waiting for the state department to decide next year on whether or not it can build the keystone pipeline out of canada, through nebraska, all the way down into cushing and then into the gulf coast. it is building from cushing to the gulf coast right now. but because still crosses you know, an international border the state department has to weigh in and basically approve the permit before transcanada can move on the upper part of that keystone pipeline. jenna: a little bit of a wait and see right now. >> yeah, that's right. jenna: so much about jobs i understand. there is new information about what the oil industry and other industries related to energy really, how it impacts job growth here in the united states. tell us about that. >> reporter: there is new report out by ihs global insight and leading consultancy. vice-chair, there, leader there is daniel yergin. he is an expert on oil and gas. and this report s

liz macdonald is here with emac's bottom line. one of my favorite topics, taxes.e are going up. >> dividend taxes. ashley: you like taxes? many could on. >> you like talking them. tracy: i like talking them. >> you're an auditor. you're a dork. i'm a fellow geek. dividend taxes set to go up, possibly to as high as get this, nearly 44% all-in with the obamacare taxes on investment income. capital-gains taxes set to go up when and if the bush rates expire and congress does nothing. this is hot topic on wall street. jpmorgan chase talking about it, wells fargo, bmo capital, blackrock. they're saying wait a second, will there be fourth quarter selling pressure on these stocks? we'll show you names of some of the stocks that are big dividend payers to the, this way. so, what the deal is, that, sell your stocks to avoid the capital gains, higher taxes. and also why own a dividend-paying stock if taxes are going up? go to high momentum growth stock to make up the difference. ashley: right. >> could be a double-whammy. not just taxes going up but selling pressure on the s

liz macdonald is with us from the fox business network. of the things we shared with our viewers that the dow is rallying today. you had better than expected news on the manufacturing sector but what are analysts saying now about the possibility of another recession? >> what we're hearing from wall street, there is serious debate whether or not we're in a double-dip recession. whether or not the u.s. economy has entered into recession. we have a mixed picture of economic data but they're taking a deep dive into the economic data. take a look what john huffman of huffman funds is know saying, jenna. he says the u.s. recession is already in progress. he is saying that the u.s. economy most likely entered recession in the middle of this year. when we turn to what the federal reserve is finding in their surveys across the country you're seeing chicago, dallas, kansas city, philadelphia, new york city, richmond, all reporting from businesses that business confidence is slowing down and it is dropping. this the third straight month in a row that

liz macdonald joins us. >> we had a wall street executive jon huntsman.said we're already in recession. it started in the middle of the year. who else but ben bernanke is weighing in whether or not the u.s. economy is in recession. here is ben bernanke. >> so we expect the economy to continue to grow. that is our best forecast as of now. so we're not expecting a recession. that being said with an economy only growing 1 1/2 to 2% that is not has enough to lower the unemployment rate. that is my concern. >> not fast enough to also avoid this recovery of downward gdp revisions. ashley: right. >> at a time we're seeing business spending really take a plunge. we saw for example, you guys have been reporting, durable goods orders steeply declined over past year. here is chart from our senior editor, charlie brady. is it the fiscal cliff dimming the economy right now as businesses sit on the sidelines. there are 60 tax provisions, five dozen of them expired last year. more than three dozen expiring by the end of this year. the issue is, average gdp growth since

a darker story behind those numbers and elizabeth macdonald is here with the bottom line. lizee holiday sales growth expectations rising 4%. beating the ten year average in retail sales growth expected this christmas shopping season but still be lowest since we have seen since 2009. here is what we are seeing holiday hiring as big retailers are ramping up temporary hirings with target up 90,000 temporary workers and macy's 80,000 down to toys r us 45,000 temporary workers hired. retailers are beginning the job cuts that they did during the downturn and this is cheaper holiday hiring. look at the layoffs you are going to see. retail layoffs come big time come january 1st. challenger gray and christmas saying 700,000 temp workers low-grade vs 660,000 temp workers hired in the 2011 christmas shopping season but those way off the come in january and this could get a nice bump to the job numbers in coming weeks. dennis: thanks very much. tracy: it is 15 past the hour with the dow down 61 points. nicole petallides on the stock exchange. j. p. morgan in the news today. nicole: the ba

elizabeth macdonald has been talking with some of them. she joins us now. liz: i will tell you something, we talked to ups -- we will get to what they said in a minute. this is called the campaign to fix the debt. they've amassed 30 million dollars in an advertising push to get washington to act. we even had ceos coming forward who never really talked before, for example sam allen of deere. and michael dell saying this to robert gray this morning about the deficit. here's michael dell. >> -- i do not believe is a good idea. i do not recommend. i think there has to be some combination -- i think something like the bowles simpson plan, you know, a logical way to approach this. it's also clear there's no way any government or organization can spend more money thaa it takes in for a long period of time. liz: here's ups ceo, scott davis on the deficit, on lack of leadership in washington, d.c. and we're showing on the screen the companies where the ceos are speaking out right now. here's ups saying i want our elected officials in washington, d.c. to start running th

macdonald has the story. i am trying to figure out, if you have all these people on disability, you are taking the mouth of the work force. lizen though white house in a december report said you keep them permanently out of the workforce essentials the saying workers on disability rarely return to the work force. that is a direct quote from a report from the white house. stuart: what does that mean? all these people permanently out of the workforce? liz: you had a loss of economic contribution from those workers and the cbo, non-partisan -- these workers to get back into the work force. the other problem -- after two years they qualify for medicare payments putting pressure on. stuart: it came down to 7.8% because -- this -- number keeps the unemployment rate low and may push it lower. liz: you can make that argument. the thing is this program is set to go belly up and insolvent by 2018. how long can we -- stuart: great story. liz: we have a story on the web site too. stuart: all day long. thanks very much. highlight reel is next. follow the wings. stuart: the friday morning highlight reel. >> hold on one second, sweetie. >>