if they look up ubs, they might think that these job cuts makes sense because the numbers show that ubsas got to do something. the restructuring plans led to a rally of ubs shares. they have been the big gainer in zurich and also here in frankfurt, where financial shares set the mood after deutsche bank reported numbers that have been better than expected. also, allianz shares rallied. the insurer has been able to raise its forecast. >> let's take a quick look at some market numbers. the dax ended the day up over 1%. you're a s -- euro stoxx 50 closed 1.5% up. wall street is closed today because of hurricane sandy. the euro is trading for $1.2961. >> oil giant bp posted around $50 llion in profits, beating analysts' predictions. the profit jump came despite a drop in production compared to 2011. >> revenues also sank to 72 billion euros. bp expects to boost production in the fourth quarter, but is being cautious with its earnings projections. the company is still paying for cleanup operations from its 2009 oil spill in the gulf of mexico. >> a boost for japan's nuclear industry. hitachi

we'll hear from the ceo in a bit. >> and the as falls at ubs. the firm will cut 10,000 jobs and wind down either fixed income business. >> in corporate news, bp reporting better than expected results in the third quarter underlying replacement cost profit $5.2 billion. about a billion ahead of estimates. it cited tight supplies in europe for high refining margins. and the group also raised its dividend from 7 to 9 cents a share. bob dudley has been talking to beccy meehan. she jones us onset. >> rush back from the interview. >> literally just brushing my hair, trying to get myself organized. i have literally just walked back in and bob dudley was pleased with the shares. the stock up by 3.5% or so and he said about time. so he was pretty happy that the shares were moving higher. i asked about several elements of the story, as well, including of course the fact that they have increased the dividend. let's listen to what he had to say about that dividend policy and if we should get used to these high dividends. >> we're working to get it closed th

here the big news coming through from ubs. restructuring is on the card for a while, but to really kill off an entire segment which is the fixed income at ubs, was a business of a surprise. let's get out to carolyn. she knows where the reaction comes from. good morning. >> patricia, as you rightly pointed out, this is an absolutely unprecedented move. just shutting gown an entire business line, the fixed income business, because it doesn't make economic sense anymore. that is a very radical move, but it is being cheered by investors as you can see. today's shares up 6.5%. because we did get those reports over the weekend, shares were also up by similar amount. if we look at the underlying business performance, that was quite rosi rosy, as well. the underlying group pretax was 15% above consensus, driven by all divisions, but the biggest beat was in the investment banking division. that was 48% better than forecast. investment banking revenues were up slightly by 3% and equities doing particularly well. net new money was also q

that's when ubs reports third quarter numbers. all in all, though, not a big surprise given that ubs is still grappling with the effects of the debt crisis, lower market confidence of course but also the regulatory impact from the higher capital requirements. so we'll have to wait and see until tomorrow morning 6:45. that's when ubs reports numbers. >> carolyn will be up bright and early ready for that one. thanks very much. stewart richardson is still with us. we see the share response up 5% about that rin investors whistling past the graveyard here? >> most interesting clearly banks here in europe are struggling to generate revenue growth. yes, quite a brave call. clearly investors are saying, great, why not reward that type of sort of capital usage and focus on the areas where they can make a decent return and make a profit. so i think it's actually quite a decent move. banks clearly have to make some changes because the current environmentment is not necess y necessarily sustainable. >> and we've seen all these different plans

. >> swiss banking giant ubs announces plans to fire more than 10,000 employees and a treatment fromnvestment banking. >> the man due to challenge angela merkel in next year's german elections denies neglecting his duties as a lawmaker by moonlighting. >> new york is closed for business in the aftermath of super storm sandy, which left at least 30 people dead. >> damages are likely to surpass those of last year's hurricane irene. sandy has move left much flooding in its wake, paralyzing new york's mass transit system and leaving millions in the dark -- sandy has left much flooding in its wake. >> here is more from america's most populous city. >> the storm has moved on, but the water remains. many of the city's road and subway tunnels are still flooded. public transport will be out of action for days to come. the effects of sandy can be seen on the streets -- residents are relieved that the worst is now behind them. >> well, last night, we could look down this street here, and we saw the river coming toward us. it actually look like something out of a movie. it was unbelievable. >> n

we have a first look at the ubs investor watch survey. have in my hands and it won't be released until tomorrow but we have it here and this is good news, it looks like investors have been sitting on cash for a long time but they now very well may want to get back in the game. joining us in a first on fox business interview mike ryan of ubs, chief investment strategist for. i grabbed this because i read it every year when it comes out that you have a huge client list. you can get a real sense of what people are thinking. big, the number one sentiment you see from your client's right now. >> clients have been sitting on the sidelines taking a cautious approach toward the market and a conservative position, looking to take on more risk. we are not talking about taking functions of the market but less cash they expect to hold going forward and more commitment to the market. liz: what is the trigger for that? why the change in sentiment? >> i attribute it to absence of malice. we have nothing breaking down or blowing up or melting down. the l

ubs moving out of fixed income. good for our bank. i thought that ford was good. 40 cents versus 30 cents. thing about ford is they do have europe under control. they're beginning to do in europe what they did in the united states which is get more rationale. latin america good. east asia excellent. east asia was excellent. may i point out, this is $80 million swing but china getting rid of joint venture split three ways that will only be two ways. >> gm blew it away. >> remember the federal government still is tied to gm. this is a romney stock. romney said he'll dump gm the moment he becomes president. but tim said that we'll wait until people are back to even. i think they'll get back to even. >> they say by mid decade in europe. >> i trust them. >> something we've been waiting to say all week long. the opening bell is coming up next. "squawk on the street" will bring it to you after this short break. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your m

ubs also announced losses in the third quarter.he bank has been trying to come back after bad investments and a trading scandal. >>> in japan a government audit shows billions of the dollars has been spend on other unrelated projects including a contact lens property. nearly all 340,000 people who were evacuated still don't have permanent homes. the government has acknowledged that it has not done enough. >>> visitors to san francisco's palace of fine arts are being warned to watch out for racoons. in recent weeks the aggressive animals have attacked people and pets and that has prompted the city's rec and park department to postsigns. >> i know two of the three people attacked by the racoons in the last month. >> reporter: officials say they have contacted a neighbor who was feeding animals at the park and asked her to stop. some people say they want the racoons removed but animal control says legally it is unable to do that. >> hi welcome to taco bell can i take your order. >>> a surprise today at this taco bell. why angel we don

ubs also announced losses in the third quarter.he bank has been trying to come back after bad investments and a trading scandal. >>> in japan a government audit shows billions of the dollars has been spend on other unrelated projects including a contact lens property. nearly all 340,000 people who were evacuated still don't have permanent homes. the government has acknowledged that it has not done enough. >>> visitors to san francisco's palace of fine arts are being warned to watch out for racoons. in recent weeks the aggressive animals have attacked people and pets and that has prompted the city's rec and park department to postsigns. >> i know two of the three people attacked by the racoons in the last month. >> reporter: officials say they have contacted a neighbor who was feeding animals at the park and asked her to stop. some people say they want the racoons removed but animal control says legally it is unable to do that. >> hi welcome to taco bell can i take your order. >>> a surprise today at this taco bell. why angel pagan

debido que spy ro el programa de ubs doys contemplado por la ley agrícola. protegía para su ganado.exicanas dieron a conocer imágenes de un enfrentamiento entre grupos de presos rivales que dejó un saldo de 4 muertos y 16 heridos. la policía antimotines llegó a la prisión a 40 minutos después que comenzó la pelea, y reportó que había logrado retomar el control en este centro penitenciario. . >>> en este mismo estado, 7 personas incluyendo 2 mujeres murieron en un tiroteo con efectivo de las marina un portavoz dijo que los uniformados llegaron a una casa en la ciudad de zacatecas. atacado un por un grupo armado. el enfrentamiento tuvo una duración de 2 horas. >>> más al norte en monterrey. 5 personas murieron luego que varios hombres armados llegaron en 2 vehículos y entraron en las viviendas de la víctimas en busca de marihuana. se llevaron a 2 personas a la casa de un vecino, los ejecutaron junto a otras 3 víctimas. entre ellas una mujer de apenas 18 años. >>> mientras esto ocurre en el noreste del país. la oficina de la presidencia informó en un comunicado. que abordaron temas de

estos son los datos. 27 circuitos de transmisiÓn electricidad desplomados, 17 ub estaciones fuera dee hogares en 17 estados quedaron sin electricidad. y como consecuencia de las lÍneas telefÓnicas colapsaron y millones quedaron incomunicados. en latino muchas gracias y el caribe muchos trataban desesperados comunicarse con sus familiares que viven en las zonas devastadas por sandy. >>> si, hola tÍa ¿como estas? estÁ todo bien por alla. >>> luego de muchos intentos, germÁn pudo finalmente comunes caro con su tÍa, que vive en brooklyn new york. >>> estaba muy asustado. no habÍa pasado nada asi por allÁ. >>> siguieron la tormenta y al ver las imÁgenes de la devastaciÓn les ault aumento la ansiedad. >>> me dijeron que estaban bien con precariedades. >>> otros no lograron hablar con sus seres queridos. >>> me siento muy preocupado, he tratado de comunicarme con mi hijo radamÉs dÍas en el bronx de new york y no he podido comunicarme y estoy un tanto desesperado. >>> en puerto rico, por experiencia saben lo que es el impacto de un huracÁn, recorrieron a todos los medios posibles para tener

that's the video we've ub covered. it's tough to watch i have to warn you. you probably remember the guy tried to leave and one of the security guys slammed the door in the guy's face. that's where the video cut before. this is the new video that "right this minute" has uncovered. the man had already placed one pistol that he had on the desk. you see there in the room. it looks like he had another gun on him, and watch this. in an instant, pulls out a gun -- shoots that man in the chest. gets in a tussle with another man. looks like he might have the upper hand until he is shot and killed. another one of the guards comes at him. he's also shot. a fourth guard comes at this man, also wounded. three of these men died in this incident. it looks like after all the men are on the ground he comes back in the room and it looks like he takes the flash drive before exiting and running out of the shopping center. it's wildly interesting. >> this guy is still at large. police are offering what equates to $13,000 u.s. dollars for information, leading to this guy's arres

and i would say that those findings are significant if there are a lot of ub decided voters. -- undecided voter. we know that these debates tend to reenforce preferences. a lot of people have already made up their mind. did anybody's minds get changed? my guess is not in this case. the nod goes to governor romney, but i don't know if it's going to change the election just yet. >> reporter: you talked about body language. we know that romney has done 19 debates in the past year: the president not had had one for four years. >> and he's had practice. but in this instance , the president i think forgot something he learned before. when you're showing a split screen, you don't want to be looking down, you don't want to be looking as if you're jump barely tolerating having to put up with them there. and that was the visual coming across a lot of times. it tends to reenforce the idea that is false, but visually comes across that romney was making headway and the president was just barely tolerating it. when someone is talking to you, you should be looking back at them, smiling, is not making it

ubs analyst says hewlett-packard should break up. hp stock has been on a steady decline all year and has fallen 15% since it rattled the markets by cutting guidance again last week. former hp chairman was on "squawk" this morning. >> there are potentially some way of restructuring the business, you know. the pc spinoff i did not support at the time and they pulled that back. now you have to start to look at things like that. i would just argue, you have to consider everything. >> let's welcome the senior hardware tech on ubs with more on his note. welcome back to halftime. it's the talk of the street today. >> thank you. good to know ten years later carlisle and i are on the same page. >> up raised an interesting point in the kind of note you put out today is nothing new. you've been calling for this company to break up for the better part of a decade. >> i have. and the number of analysts have point this out. we're trying to put a staying ground and saying it's increasingly making too much sense. we updated some of our parts analysi

see if there's any alpha. >>> in the next hour of "squawk box" former ubs american chairman robert wolfls, jobs and the election, mr. obama's favorite banker. and later health care, a major issue for americans in the presidential candidates, the coo of mt. sinai, ken david, is going to join us. a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. tdd#: 1-800-345-2550 at schwab, we're committed to offering you tdd#: 1-800-345-2550 low-cost investment options-- tdd#: 1-800-345-2550 like our exchange traded funds, or etfs tdd#: 1-800-345-2550 which now have the lowest tdd#: 1-800-345-2550 operating expenses

with former president of ubs investment bank robert wolffe and democratic strategist bob shrumpf. a republican talking point died a bloody death today. >> the obama administration promised that unemployment would not exceed 8%. >> would not exceed 8%. >> unemployment under 8%. >> below 8%. >> tonight a requiem for the 8% promise. the mitt romney coal miner story got even uglier today. we'll talk to the author of a new report that claims the owner of the ohio mine mitt romney visited forced workers to donate to the romney campaign. and the legendary actor lavar burton is mad at mitt romney for going after big bird. >> i'm going to stop other things. i like pbs. i love big bird. >> tonight lamar burton with the real story about pbs. >> the real story? >> the real story. good to have you with us tonight folks. thanks for watching. the unemployment numbers for september were released today. it is good news for the american recovery. somebody said obama didn't know anything about the economy. well, forget that for now. the national unemployment rate fell to, count it, 7.8%. 114,000 job

that's when we met former ubs banker bradley birkenfeld.o expose how he and his banker colleagues helped americans hide billions from the i.r.s. in secret offshore accounts. as a result of birkenfeld's whistle-blowing, ubs paid a $780 million fine. in spite of his help, birkenfeld got 40 months from a federal court as punishment for his crime. but last month, he got $104 million from the i.r.s. as a reward for his cooperation. i'm steve kroft. we'll be back next week with another edition of "60 minutes." captioning funded by cbs and ford-- built for the road ahead. . . e plansprobab50ndations tdd- tdd#: 1-800-ovira

ubs recommending hp, hewlett-packard, should break up into two businesses.rise business and pc printer business. given both stocks are down some 40% over the past year, either beaten down name a buy right now? it's hp versus netflix as we start ta"talking numbers." carter worth from oppenheimer and on the fundamental side charles notel. let's look at the numbers. until recently these charts tell a different story. in the last week alone, netflix has rocketed higher. >> hlet's stay it didn't say hewlit on there, we would say bad doughnuts, bad cars, something's not right. pretty bad downtrend. we would not do that. that's why they call them value traps often. the other one is no party either. take a look at netflix. i mean, 300 to addition. >> i'm referring to this little -- >> that's maybe something to get -- i would say all it does is return the stock to a very difficult level where people who have been trapped are happy to get some money back. >> charles, what's the story here, would you short either of these names? you can take netflix first. i mean, obvi

equity strategist at ubs. of course ask him whether this market sell-off today means a buying opportunity for you or not. >>> the s&p financials are up a fraction today. home building stocks are up but the automobile sector is on the downside by about .66%. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. attention, owner of the light blue smart with the blackish-blue frame and the white dots

bob pisani rejoins me on the floor, as does art cashin of ubs.art, one thing that was a little worrisome to the market was the growth and unemployment statements by mr. bernanke in the q an a session, that there will not be decided improvement in unemployment for a while until we get growth going, that the growth is not sustaining any decided improvement in the labor market. >> yeah. i think it was both explanation, defense, and a little bit of frustration combined in all of that. and i think he's concerned -- he tried to be not openly defensive but i think he had a -- don't want to call him light-hearted but he had kind of an upbeat mood to it and seemed to go well but i didn't see any compelling new evidence that would have some of the critics say, you know what? i never understood it like that before. >> this was clearly selling to bernanke. the markets started dropping even before we got the actual text of his statement. i think a lot of people assumed he wouldn't say anything particularly new. he really didn't. accommodative stance. he wasn'

paul richards joining us, managing director at ubs live from stanford. welcome to the program, sir. do you -- where does the dollar trade from here? what is the outlook there for the currency effects? >> >> the thing you need to keep in mind, the market is blaming the dollar on earnings. the euro three months ago was 120. now closer to 130 that is an 8% depreciation of the dollar versus the euro and 5% depreciation of the dollar index. first and foremost, be careful we are not backward looking here and 130 exporters are absolutely breathing a sigh of relief. from here, i think it depends on the election in two weeks and what is spain gonna do? give me another two or three weeks and i will definitively be able to answer that question. there is a lot of uncertainty. >> interesting you frame the dollar automatically as eurodollar and not the rest of the world. where do you think the green back will trade with america owes other trading partners? >> in the case of dollar yen, trades higher. the one country that has a true policy of easing is japan. meet -- boj meets next tuesday. they'v

staples founder tom stemberg versus former ubs founder robert wolf and later on the show former defense secretary ronald rumsfeld talks about the breakdown of security in benghazi and don't forget, folks, free market capitalism is the bet path to prosperity. we will debate free capitalism as part of tonight's foreign policy debate. i'm kudlow. we'll be right back. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> welcome back to "the kudlow report. the kudlow twitter beat. the question tonight, how will the breakdown of security in benghazi impact the election? matt in connecticut, he says it may be the tipping point for independents who were on the fence to vote for romney. larry? >> yeah. it's funny. a late-starting issue that's become such a hot issue. i don't think it's as hot as the e

ubs removed the company from its alpha preferences list yesterday. if you're an investor in f5, they're holding an analyst meeting next thursday. pay attention to that. >>> beer stocks have been hot apparently. are the companies that make the big bottles, for example, owens, illinois. >> it is one of those companies, it is all google and apple and facebook and zynga. this is one of those companies that makes glass bottles. >> stock's up 17% in a month! up 4.5% today. goldman sachs upgrading from buy to neutral. saying they're reducing debt, working on free cash flow generation. glass bottles 1, network equipment gearmakers 0. >>> sony's stock is up today despite some egg on the face again for sony. some tablets leaking. >> the stock's up. i'm not trying to pick on sony because i know you lived in japan for 17 or 18 years. but this is an embarrassing manufacture for sony. they have a tablet, called the ex experia. supposed to be waterproof. sit in the tub, somebody's scrubbing your back with a loofah and you're searching the web. apparently water goes

there's the stock price today for ubs up by about 2%. dagen: on to sports and a big game for aaron rogers of the packers last night. rogers setting a career high and tied a franchise record with 6 touchdown passes. in a 42-24 route of the previously unbeaten houston texans. this performance comes after rogers last week took responsibility for his team's bad start to the season. of course patriots lost. detroit tigers jumping all over the new york yankees, jumping ugly in fact in the american league championship series, taking a 2-0 series lead after playing against the yankees yesterday. justin verlander pitching for the tigers and he's said to be dating kate upton if you care. the undefeated florida gators making a surprise run up in the charts in the bcs bowl. florida opened the season undecided on starting quarterback, but he's proved himself worthy most recently in saturday's win over vandy. florida hosts south carolina on saturday afternoon in a pivotal sec east game. connell: who cares? dagen: who cares what? connell: we will have

foot locker, ubs says buy it. >> foot locker, remember nike was great in north america.o foot locker should be a good reason. i agree with ubs. >> goldman says a short squeeze possible at safeway. >> the days when you recommend a stock on a short squeeze, that's old days. i don't like it. >> abkrob and fitch -- >> don't bother. >> texas instrumented downgraded -- >> this thing is so cheap and no one cares. >> and medical properties trust? >> you asked me where are people going. they're going to 7% yielders if the balance sheet is going and smgt good. this is 7%. that's the solution, carl. >> i think the eyeroll quotient on that "six in 60" was the highest ever. more tonight about -- >> healthy week. we have some good names this week. and i'm unveiling a group of stocks that cannot -- that can't be stopped because there's money managers who want to show they own them, two a day for the rest of the week. the anointed ones. >> i like that. a blessed stock and the anointed stock. we've not touched on gas prices. california's looking at $4.65 a gallon. >> inbridge says, give

swiss banking giant ubs may cut a third of the jobs in the invested banking division and possibly 10,000verall. the wall street journal reports the announcement could be made tomorrow. retail stores this holiday season are taking aim on the online competition among weapons in-store deals and matching prices and picking up good order online. and argo moved to the head of the line at the movie theater. it made 12 million dollarsa finishing second the -- dollars after finishing second the first two weeks. that's america's money.

ubs make cut a third of its jobs in its banking division and possibly 10,000 jobs overall. the announcement could be made tomorrow. retail stores are taking aim at the online competition this holiday season. they will have exquisite in- store deals to compete. "argo" made $12 million at the box of is this past weekend. >> we will take a quick check of sports. the giants ended up winning the world series. they needed one extra inning to complete the sweep but i only needed four games to get the championship over the tigers. there was a leadoff single in the 10th inning and then they scored. the tigers could not answer and there is you're likely mvp miguel cabrera. it is there third world series title -- their second world series title in three years. back to coverage of hurricane sandy -- people living in flood-prone areas or warned there could be some problems. >> we now go to conditions in annapolis with john gonzalez. >> i can tell you that the rain is only intensifying in annapolis. it is not only the rain but the wind as well with the gusts becoming more frequent in dow

no comment from ubs at this point. so we really have to wait until next tuesday to get more detail on that. some have said that credits was, for its part, would hold off on announcing any massive job cuts tomorrow. >> thanks for that. commerce bank on review for possible closures, according to "the wall street journal." it is down 1.5%. now there's three top stories on cnbc.com as well. donald trump is promising to reveal a political bombshell concerning u.s. president barack obama. log on to cnbc.com for that. >>> also, major airports are now removing x-ray machines, deemed to be too invasive. keep up to speed on the new mini ipad and cnbc's live blog, could it be another winner for apple or not? will the price put people off? all on the website, cnbc.com. we'll take a short break. still to come, iran's warning that it will stop all exports if western sanction get any tighter. we'll be in tel aviv to hear exclusively what the israeli finance minister has to say about those sanctions. >>> a few companies, whirlpool, ha

. >>> job cuts reportedly on the way for ubs and credit suisse as they both look to reverse falling profitsr, ubs is looking to slash 3 to 5,000 jobs while credit suisse, 1 to 2000 positions. that's the latest from the fox business network giving you the power to prosper. cheryl: overseas markets under pressure. ashley webster following the headlines out of europe for us. ashley what was holding investors back today? ashley: i think it's earnings cheryl. mixed performance overnight in asia, european markets struggling today with earnings i think worrying investors about the state of the global economy certainly on this side of the pond as well. the closing bell, though, the ftse off about quarter of a percent. the cac in paris down 6/10. dax also down about 3/4 of a percent. spain's prime minister receiving a small political victory on sunday as his party retained control of the region. defeat would have been embarrassing and marked a serious seatback. a report to be presented soon is expected to show that greece's financial shortfall larger than previously thought and the country will need

as aelt,hatn getim toi ub f gnt yic u on what erin said, the issue with libya, that is something that the vice president will likely be confronted with, as carney was today, at the white house podium because what the state partnt sla nt, act athaed ai saying from very early, the state department never believed this was a protest gone awry. that does raise questions about why top officials like scan difficult and ambassador rice kept saying this was waapo ttiim film. >> did she and you and other mislead the public because you did not want to admit there was a terror attack? >>guest: absolutely not. the presidentof the unid statald i an ate ritur po: e pidid on september 12 say an act of terror will though deter the united states from moving forward on a number of fronts but, half 9/11, jake carney and ambassador rice and many other ined i neisn theadmistraon apotohe f. e pdeid was the senate foreign relations chairman and has a major foreign policy portfolio in the administration, this could be one of many issues to be pressed on tomorrow night. >>neil: look forward to it. wtet campaig

ubs may cut a third of the jobs in banking division and possibly 10,000 over all the "wall street journal" reports the announcement could be made tomorrow. retail stores this holiday season taking aim at the online competition, among their weapons, free layaway, matching prices, picking up goods made online. finally argo made 12 million dollars after finishing second its first two weeks. >>> check out our picture from emeryville this morning the fog thick around bay shore to the coast north bay valleys dense fog advisory in effect until 8:00, i think the fog will hang around until 9:00, visibility low as 1/8 of a mile. >>> we'll continue to cover the entire northeast and hurricane sandy which is strengthening staying on a path toward washington, baltimore, philadelphia and new york. live picture of new jersey that is the jersey shore, atlantic city, some of the casinos boarded up, not doing any business it takes a lot for them them to do that this storm means business, it is serious, it is big. tahman bradley is live in ocean city, maryland where sandy is expected to make landfall in the

ubs about taking aspirin for pain.they haven't experienced extra strength bayer advanced aspirin. in fact, in a recent survey, 95% of people who tried it agreed that it relieved their headache fast. visit fastreliefchallenge.com today for a special trial offer. >>shepard: continuing coverage from new york city, a man is now in custody after the f.b.i. says he tried to blow up the federal reserve bank in manhattan. he thought he was blowing out it up. he raised red flags about a jihad posting. the f.b.i. made him think they were in on it with him. rick has new information from the newsroom. rick: the suspect is 21 years old. he has been charged with attempting to use a weapon of mass destruction. according to the f.b.i. in a video statement he made prior to trying to detonate the bomb he said we will not stop until we attain victory or martyrdom. they say according to the u.s. attorney, the defendant came to this country intent on conducting a terrorist attack on u.s. soil and worked with single-mined determination to c

. >> reporter: swiss want ubs invailed plans to lay off 20,000 bankers.his move comes as the historic bank trying to scale back its loan. it's one of the industry's largest lay offs since the financial crisis rippled through wall street and financial markets. >>> california firefighters this morning quickly got the upper hand on a fast moving brush fire burning in los angeles county. this blaze erupted early this morning in eagle rock. portion of the roadway was briefly shut down while fire crews attacked the two alarm blaze. the cause of the fire is under investigation. >>> let's talk about our weather now including the crucial trick or treat forecast. sounds like some of the kids are going to get wet. >> especially the north bay. so many kids go out tomorrow night and it's really a drag. now it appears it'll be raining in the north baby 5:00 or 6:00 tomorrow afternoon and those showers will spread south to oakland and fremont say 7:30, 8:00 tonight. we'll get to that. here's what the super storm looks like. it's a big storm and that's a big story that w

flip side, you possibly want to get into some of the superiority and casualty insurers like chu about ub i think they're good buys on the sell-off. >> what about lowe's or any of those related names? >> i'm going to take the other side. i think home depot, if you're playing it for a trade, sure, you don't want to chase it up 2%, but the real play in hon depot is the recovery in the housing market. that hasn't stopped. if anything, you know, we had the kroeismt o of weyerhaeuser on yesterday, and hi gave us a hint. he did say that fourth quarter is looking very strong. >>> we're looking at liv pictures from staten island. you can see the floodwaters there, so a sizable rebuilding effort. all along, really, the eastern seaboard. dr. j, how about home depot, lowe's or some of the other home improvement or related businesses? >> i think this plays out for months and months. the board-up part comes before the hurricane. the long-lasting effect is people will be buying mohawk and carpet, buying around strong worldwide, as you've detailed. fastenal for all these little parts that go into your h

the market looks today they look at earnings, we're about to get latest report on quarterly earnings, ubs put out a dramatic note saying they believe we'll enter earning recessions, that is two straight quarters of negative earnings growth, those are the fundamentals that should be driving the stock market. we're still in a uphoria period, to stimulate the market. neil: quickly, todd, i remember 1980, a point in that weekend, when a lot of people just said, to hell with it. they saw ronnie at reagan in his debate with jimmy carter they liked idea they could switch horses at that stage, he seemed to comfort himself well, they were tired of everything and needed a reason to say we're done, he is out. are we approaching anything like that now where whatever we're seeing now, could reverse? >> yes, because if you remember that time, american pride was down the tubes, misry index was super high like it is now. we get accustomed to sees new products and say apple and we think that it is great, you hear from politicians and you hear it is in recovery mode. but that is not the case, main street d

my next guest could know the numbers better than i do, the former ubs america chairman and sevens a crucial president's job council. what do you make of this news we will have an earnings contraction? after two years of quarter after quarter, year-over-year growth, it stops. >>guest: g.d.p. has been slow ing. fortunately we have the housing market coming back, that is what you need --. >>neil: you have no doubt? >>guest: no doubts the housing market, with 401(k)s at four year low and housing starts at a four year high and the consumer confidence is the highest in four years so we will see a rebound but it will not be as fast as we desire. with companies, organic growth is tough so we will see acquisition orientation taking place. >>neil: but to hire more people, to expand plant and equipment the kind of thing you expect and want to see companies to do, at this stage, they are not doing it. why not? >>guest: it is a demand and supply issue. demand is still slower than we want but consumer confidence, still 70 percent of g.d.p. is consumer driven. >>neil: you are not a surrogate and you back

all this welfare spending adds ub to $20610 for every man, woman, and child in the country.y of four, that's more than dlg -- $82,000. the poverty line is just $18500. with this spending, poverty should be wiped out, but it's growing. one in seven americans live in poverty. we told you about that before, the most in two decades. all the while, spending is soaring. here's welfare spending in the last four decades. look at this. goes nowhere but up. how do we spend so much money and see so little progress? rather than pushing the line higher and higher expanding the welfare state, stop the taxes and bloated regulations holding back job creation. people need work, not handouts. the point is not that people shouldn't get help when they need it. we want that. shouldn't more of the government's resources be focused on getting the economy going again so that more americans can be self-reliant. that's what i think. we want to know what you think. drop me an e male at -- e-mail at gerri@foxbusiness.com. >> would you change your mind if education just cost you $10 # ,000? fine out why

on the flipside, a ratings downgrade taking its toll on ubs slashing the ratings to a sell over concernsand lines. the needs for asset sales to address its debt obligations also played a part in the downgrade decision. the airline's profit outlook is flying higher. the international transport association raised the 2012 forecast thanks to strong passenger numbers. they see $4.1 billion in profit, a third higher than the preves estimate. to continue the count down with ashley webster. ♪ >> thank you very much. heading down to nicole at the new york stock exchange. what's moving today? the dow is up 73, but way off its highs. >> right. when we look at what's going on with the dow jones industrials, one of the reasons we are on the floor is because i can go to, talk to traders who are doing their expert checking here and mark newton is one of those people, the technicals on the floor, and he talked about the down trend we've seen since mid-september remaining in tact. the fact we tried to get a ben bernanke bounce, which didn't go, and we're selling off. that's not short term. it's not good