michigan state senator rick jones joins us.enting that state's 24th district just west of lansing. is this a real plan or are you making a point about the m miserable fiscal state of detroit? >> i'm making a point the governor or even the mayor fail to right the ship they're spending like there is no tomorrow. there is no control. the taxpayers i represent will not bail out detroit. as they teeter on bankruptcy, we have to look at all options. put all options on the table. one could be dissolving the city of detroit. >> is it true -- is it true that the city council -- in as much dire condition as the city is in -- was asked to meet and they said, sorry, we're on holiday break? >> absolutely. the mayor asked them to come in and look at the governor's plan and get ready to save the city. "sorry, we're on holiday." it's ridiculous. it'sdysfunctional. if they don't save their own city, it may be time to look at dissolving it. >> what would that mean? would that mean that the city of detroit -- i thought it was already sort of bein

rick jones joined those with his plan to save the city. calling batman. ♪ you know how painful heartburn can be. for fast,ong lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon® melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange. lauren simonetti is standing by. footwear and apparel company genesco deep in the red today. >> yep. down nearly 8% the problem was the start to the four. their november comps down 4%. one of the reasons was superstorm sandy affected business. so they're off to a slow start for the current quarter. as for the third quarter just wrapped up, really solid numbers. profits rose by 57% in q3. they raised their numbers for the full year but genesco obviously a big loser today. back to you. melissa: thanks so much, lauren. lori: president obama finally lit up his plan for avoiding the fiscal cliff. melissa is fully

we'll ask michigan state senator rick jones when he joins us at this time. don't miss it.u imagine, no detroit? detroit dissolving? it will not happen. it is interesting phenomenon. melissa: i don't think it will vanish. it will get on a bigger scale as well. what will happen to california in the long run? if you look at budget crisis that is a big one. >>> from tea with the queen to dinner in the outback british engineers unslal -- unveiling a new engine that create speeds up to 4,000 miles per hour which can get a passenger from london to australia in four years. the near 12,000 mile trek is possible that quickly because the engine can be cooled at superfast speeds without creating ice blocks. that is interesting. jets can fly as high as 92,000 feet and may take passengers to space. a normal aircraft cruises at 35,000 feet just for reference. lori: charge you for peanuts and first bag and whole thing. melissa: without question. and they will still lose your luggage. coming up tonight on "money", congressman peter roskam and inside details on fiscal cliff and what nobody

the dow jones industrial rick breaking a four day losing streak. s&p up six and a half.asdaq bros -- rose 16. the s&p down one and half percent. the nasdaq six week losing streak, the longest in almost four and a half years. four and a half years. and economic news, hurricane sandy took a toll on industrial producon. it fell fortunes of a percent. economists expecting a two tenths of a percent increase. the yield on a ten year treasury note moving down. crude-oil prices down selling at $86.67 per barrel. and in corporate new, though losing more than 7% in its share price after reporting late yesterday, quarterly earnings fell by nearly 50%. good news for facebook. that stock up more than 6%. the social network share s holding up despite the expiration of some like the agreement this week. two oil workers are missing after an oil platform exploded off the coast of louisiana today elev other crew members were flown to hospitals, four of them listed in critical condition. coast guard ships and helicopters are continuing their search tonight for the two people who are missin

he joins me with steven wood, rick santelli, and michael jones. guys, good to see you. thanks so much for joining us. steven, what's your take on the markets right now and this storm? how does it impact the economy and the markets from here? >> i think it's modestly constructive. i think we're still in the middle of the square root shaped economic recovery we've been in for over three years now. a grinding upward trend within the data. i think you saw some of the positive news. i think the chinese numbers were a little stronger than many had figured. so the global economy may not be decelerating as quickly as many had feared, but certainly earnings are going to trump a lot of investors coming into the season. i think coming into the fourth quarter, earnings are going to be critical but revenue is going to be extremely critical in an economic environment that's grindsi grinding upward. >> kevin, what about you? i know you're growing increasingly pessimistic about the impact of the fiscal cliff. what else is becoming a drag in terms of uncertainty on in economy and the ma

jones. today, fox news chief meteorologist, rick, you told me this was coming, i said come on. >> this is the same area that got hit by sandy last week, wire about 9 days out. we still have people without power, now a cold, snowy wet day, adding insult to injury, snow from new york city to central jersey, now across parts of connecticut, i think it will weaken about 4 hours or so of snow across northern parts of jersey, the timeline, moving forward to about 3:00 a.m., we see is begin to bind wind down or begun for much of jersey. the wind will ease quickly, a lot of people who are flying tomorrow, may be able to flying and the relief efforts will be able to continue tomorrow, those people who have been without power for so long will not have as much wind to deal with. but it will be a cold one, maybe about an inch or so more accumulating in new york city, by the time this is done. a bullseye of 5 or 6 inches, we had a place in connecticut with between ache 6 to 8 inches of s, temperatures in 30s right now, tomorrow, a very cold day for everyone, there is one little bit of bright news, that is

that was darlene jones from wftv trying to get an answer from rick scott about this. voters stuck in line for eight hours and more in polling places around the state of florida after governor scott cut the days for early voting and refused to add any of them back when the lines were that long. he says it all worked fine. the right thing happened. florida officials say the lines pop up mostly in big cities with diverse population. they say that as if that's self-explanatory in terms of why you have long lines. but florida officials have you been to l.a.? really big city. we have been getting letters from people who vote in california where they opened tons and tons of polling places that serve much smaller groups of voters than the way you deal with it in florida. in california they vote at the neptune society. they vote in their neighbor's garage. they voted at headquarters of the venice beach lifeguards. californians do not do is stand in line and wait eight hours to vote. after the cake splat of an election in florida and several other states, we're watching for ide

that was darlene jones from wftv trying to get an answer from rick scott about this. voters stuck in line for eight hours and more in polling places around the state of florida after governor scott cut the days for early voting and refused to add any of them back when the lines were that long. he says it all worked fine. the right thing happened. florida officials say the lines pop upmostly in big cities with diverse population. they say that as if that's self-explanatory in terms of why you have long lines. but florida officials have you been to l.a.? really big city. we have been getting letters from people who vote in california where they opened tons and tons of polling places that serve much smaller groups of voters than the way you dole with it in florida. in california they vote at the nep tune society. they vote in their neighbor's garage. they voted at headquarters of the venice beach lifeguards. californians do not do is stand in line and wait eight hours to vote. after the cake splat of an election in florida and several other states, we're watching for ide

that was darlene jones from wftv trying to get an answer from rick scott about this.ne for eight hours and more in polling places around the state of florida after governor scott cut the days for early voting and refused to add any of them back when the lines were that long. he says it all worked fine. the right thing happened. florida officials say the lines pop up mostly in big cities with diverse population. they say that as if that's self-explanatory in terms of why you have long lines. but florida officials have you been to l.a.? really big city. we have been getting letters from people who vote in california where they opened tons and tons of polling places that serve much smaller groups of voters than the way you deal with it in florida. in california they vote at the neptune society. they vote in their neighbor's garage. they voted at headquarters of the venice beach lifeguards. californians do not do is stand in line and wait eight hours to vote. after the cake splat of an election in florida and several other states, we're watching for ideas about how to fix

rick, i want to take a short break. let's continue this after the break. and also talk about this fantastic story today, angus jones and a half men" who described his own show as complete filth. want to know if you agree with him. oh, really. i haven't heard this yet. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios >> announcer: 'tis the season of more-- more shopping, more dining out... and along with it, more identity theft. by the time this holiday season is over, an estimated 1.2 million identities may be stolen. every time you pull out your wallet, shop online or hit the road, you give thieves a chance to ruin your holiday. by the time you're done watching this, as many as 40 more identities may be stolen. you can't be on the lookout 24/7, but lifelock can. they're relentless about protecting your identity every minute of every day. when someone tries to take over your bank accounts, drain the equity in your home, or even tries to buy a car in your name, lifelock is on guard. and with life

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rick, i want to take a short break. let's continue this after the break. and also talk about this fantastic story today, angus jones from "two and a half men" who described his own show as complete filth. want to know if you agree with him. [ female announcer ] you can make macaroni & cheese without freshly-made pasta. you could also cut corners by making it without 100% real cheddar cheese. but then...it wouldn't be stouffer's mac & cheese. just one of over 70 satisfying recipes for one from stouffer's. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. well that was uncalled for. folks who save hundreds of dollars switching to geico sure are happy. how ha

. >> thank you so much, rick santelli and the markets reacting, the nasdaq is now higher by .9 and the dow jones1.1% to be exact on the back of the better than expected ism. the increasing confidence coming in at the highest level since february of '08. let's talk to steve lease man. chief economist and we want to go through this data, but also what this might mean for tomorrow's big jobs number. steve, your take on the data? >> it's coming in better than expected. like a cross or whatever it is? obviously what's going to happen is the data's going to soon be affected at least the high frequency data. but for the moment, it looks like we had a decent read out of manufacturing than surprises me because amount of regional manufacturing indexes have not been on the plus side. the other issue right there is adp looked good this morning, although that's a new index, so we're not exactly sure how that's going to comport. construction, what's happened here is the private sector has been positive with residential surging, but the public sector was negative. looking at the internals at ism, the employmen

jones industrial average finishing up two-thirds of a point. the s&p 500 tonight picking up 2.25%. let's get to the market right now with a look at the day. michael santoli and rick santelli joining us. rick, tell me what the act was like today in chicago as the market for equities was all over the map. >> it was, but all the traders normally behind me are gone. futures closed an hour ago. on the left screen they had a one-minute chart of the s&p futures. on the other screen, a one-minute chart of the ten-year. it was all about the stock market today. just consider this, right before we knew the president was re-elected, the yield on a ten-year note was 175. here we sit at 161. unchanged from yesterday. still it down ten basis points from its last friday close at 171. pretty pitmuch most of the lowe yooel yields are based on uneasiness. fiscal cliff, raising taxes in a slow economy. all of it is coming home to roost. >> mike, we had the president come out saying that he will veto any legislation that allows the tax cuts to be extended for the highest earners. is that what poured water on the rally? >> it didn't hurt. obviously, there was no breakthrough. i think