surged from the opening bell. the dow jones industrial average hitting another all-time high close, gaining 112 points on the day, settling at 14,559. the ninth record close so far and at the year, as they say, is young. the 14th time in the past 18 sessions that the dow has gained. standard and poor's closing just over one point from its all-time record closed while setting a new 52 week high. today's closing value, the second highest in the s&p history, and the nasdaq up 17 points and the date, up 150% since its closing lows set during the depths of the recession back in march of 2009. a gain in total market capitalization for this year now i just under $2 trillion for the wilshire 5,000. and over 11 and a half trillion market gain since the low four years ago. also tonight, a brand new biography of one of the company's best known media personalities. you will find it fascinating and compelling. the book is roger ailes off-camera taking in an inside look get what made broadcasting and cable -- cable television lines and. the end of the movie child is finally within sight. amanda knocks forced to defend herself once again as the top italian is overturned heard 2007 acquittal. we are on the case tonight. legendary investor with us to talk about these remarkable markets. this economy. well, today the supreme court took up its first major examination of gay-rights in a decade. proposition eight bands same-sex marriage. it is the first of two days of hearings on the subject. fox news supreme court correspondent shannon green with our report. >> the supreme court must now decide whether not topple the wishes of california voters to in 2008 ratified an initiative known as proposition eight in many california constitution to limit valid then legally recognize marriages as only those between one man and one woman. today in number of justices asked why individual states should not be allowed to make their own decisions about this relatively new concept including justice samuel alito's said the idea is newer than cell phones in the internet. >> such fundamental importance, why should it not be left for the people. even after true initiatives and referendums. >> after opting not to defend property in core supporters took up the legal fight arguing that marriage is a unique relationship that must be protected. today they asked hal allowing same-sex marriage would undermine that. >> what you see happening and when and how and what harm to the institution of marriage or its opposite sex couples? how does this cause and effect work? >> charles cooper argued that it is impossible to perceive how redefining marriage will ultimately impact society. several justices noted that same-sex couples already have expansive rights in california. with that in mind chief justice john roberts asked why opponents are insisted on using the word marriage. >> if you tell a child that someone has to be their friend, i suppose you can force the child to say this is my friend but it changes the definition. that is what seems to me, what is important, they're saying, all you're interested in is the level. >> the justice signaled he is sympathetic to have the court's ruling will impact the children. >> some 40,000 children live with same-sex parents. they want their parents to have full recognition in full status. the voice of the children's importance. >> he's not sure the case is properly before the court justices signaled that they may not even get to the marriage of -- merits of this case. lou: thank you very much. our first guest here tonight to further educate the proposition eight case to evaluate the possible ramifications, political ramifications, fox news digital politics and there. great to see you. and with me here. great to have you here. first, i have to ask you. i listened to the report as chief justice roberts is talking about the definition of a friend and then at the analog with the support. i have o say to my have never said this before, but that was nonsensical. >> it did not make any sense from a legal perspective. unless you have the labels, labels mean everything. level changes. i am trying to explain it. lou: let me turn. of course an incendiary wage issue. at the same time, proposition eight was decided by referendum. this is as about as direct as democracy can be in a constitutional republic. shouldn't these justices be wary of messing with it? >> look, not only is it the law in california but in 29 other states. it has only failed to or three times. depending upon how you define failure across the country. this is states, even many democratic states are several democratic states have these kinds of laws. the question, they may be reticent to overturn in sweeping fashion which is what the folks against the law want, sweeping fashion to put something out. if they do that it would be rather chaotic. lou: then how chicken would it be of this court test send it back. i know these are terms that are little elegant, but nonetheless. to send this thing back to the ninth circuit and let stand their reversal of proposition eight. again, a democratic results from a democratic process. your thoughts. >> in fact, that was, i think, the news out of the court today, several of the justices questioned whether or not they should even have a ruling. the so-called standing. look. basically what the ninth circuit said in california is this is the law in california that the people could marry. then it was revoked. take away rights once they're granted. why is this coming tests. we have standing here, let someone else settle this issue. they want to stay away from the 14th amendment which is the proposition pushed by the lawyers for gay people. they are american citizens. constitutional rights and they should be protected equally with every other person who has constitutional rights which means that there would be allowed to marry. >> and i think being very narrow on the decision to ban a think the "vested up for me the most, he is normally seen as a make or break vote. uncharted waters. that tells me he is leaning to throwing it back to the state. that would mean, of course, the state court decision was stand in pompeii would be out as only it applied to california. very narrow justifying. lou: applying to that one state. we will wait and see. another day of arguments. so most of the same arguments. i want to turn to the -- turn to the affirmative action case because this is also going to be lightening and a lot of thunder around this decision as well. the court has ruled a decade ago . sandra day o'connor. michigan could come up with a surge in alchemy if you will of considerations bring race into the evaluation. >> as one factor, not a full factor. but immediately after this decision to in years ago michigan passed a proposition much like california saying, no, we don't want this. now it's a similar issue before the supreme court. lou: affirmative-action go down this time? >> well, as we remember, justice o'connor said that this was a time limited thing in that some point it woulddbe deemed not necessary. i would certainly say that the election of the first african-american president and is second term in office might indicate that the country has chased some in the last decade. lou: what say you? >> you know. [laughter] >> i don't know. we have some friends out there, but they don't talk like that when i'm around. i would say that this is a question that the courts should decide. bbcause to me we have a story in this country. you can say, i close my eyes to race. i don't see him as a white, but my friend. we have a history in this country of racial division, slavery, legal segregation, but of a point does it become onerous in terms of saying it leaves discrimination against other people? that is a really took -- tricky question. twenty-five years. obviously that has been compressed because there is so much pressure. i had one thought which is on the fortune 500 companies are polled on this issue they talk about affirmative action for women as their number one form of affirmative action. gays. when it comes to blacks and hispanics it is way down, almost like this thing does not exist except that would say in the area of college admissions. again, most of those of private schools which is how they get away with it. lou: and getting away with stuff is something we need to end in this country. we need to at least set to come up with a common solution for our common purpose. >> the supreme court is looking into of these cases. texas and michigan. lou: it did not mean to neglect texas. and that you want to say, this country does have a history of racial division. a more powerful history. 300,000 americans died to free slaves in this country. most of this country is very good which is the true history in the hope it is before the court. thank you for being with us. much more on the supreme court and its -- and the cases it is hearing throughout this evening. stay with us. bill gates once president obama to have more power and the american oligarch is spending his money on such things as -- that's tonight's "chalk talk." the dow jones industrials at a new record high. what is the deal about cypress? legendary wall street investor with perspective here tonight. ♪ ♪ ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold styling, unsurpassed luxury and nearly 1,000 improvements. the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial svices. all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on yourur side. the longest 4g lte battery in a razr thin profile. with 32 hours of battery life that turns an all-ghter, into a two-nighter. the droid razr maxx hd by motorola. droid-endurance. ♪ lou: home prices are surging. manufacturing appears to be reviving. consumer confidence is looking shaky since stocks are surging to record highs. we will be talking with billionaire finance year wilbur ross with his insight and knowledge. first, here's what happened on wall street. the dow hitting a new record high. today's includes the it -- enthusiasm driven by home prices rising at the fastest annual races june of 2006 and orders for durable goods up, the biggest monthly surge in five months. the dow up 112 points to its ninth record close of the year, 14559. the s&p up. the index now bigger than two points from its record. the nasdaq of 17 points on the day. the commodity market, gold losing a bid, down 920 per ounce finishing at 59730. crude oil up a dollar 503. now about $96 per barrel. yield lower in the bond market. the treasury ten year. it's good to be at team and a multimillionaire. british teenager has sold is smart phone application. $30 million. thank you. reducing articles to short readable pieces on smart phones, a big drop -- visual interpretation on the smart phone television news. early investors including chinese billionaire, yoko ono, and media giant rupert murdoch. the teams now discussing details apparently too busy setting courses for high school final exams. the wall street investment strategist, invested billions of dollars city could not have done it alone. absolutely did not. big banks new and participated in a scheme. j -- bank of new york and citicorp. first contacting all of those banks. they declined to comment. in prison, north carolina. that will be his whereabouts for the remainder of his life. as markets for with record highs, invvstors may be looking for the next move. my next guest says he is getting more and more excited about shale gas in the potential to revitalize the entire economy. joining us now, legendary investor, chairman and ceo of w. l. wash and company, one of the world's leading private equity firms. these markets to miami, they are on an obvious chair. we are starting to hear a lot of buzz about how it will collapse. i won't name names. suggesting that the market could drop 5% or 10%. they might as well as a 20th 30%. your thoughts? >> well, i think that all the hullabaloo about sequestration and of country, and apparently was tree does not believe the higher taxes part of their rhetoric either. >> well, i think that the higher taxes are probably acer rentable problem, particularly with the shale gas and tight a while. lou: you talk about shale gas demand want to get to energy in a moment. as we like refiners', we are still seeing strong performances from both. >> it is important to, these reserves, they can revolutionize the chemical industry, the plastics industry, the fertilizer industry, even the steel industry. bring things back to the u.s. because it gives us a huge competitive advantage from an energy cost point of view. lou: wait a minute. you're always bragging about the fact that we are exporting more petroleum products than we ever had, bragging about the fact that we can be energy independence by 2020. we can balance our imports with our domestic production. the next two or three years. so where are the lower prices? we will be the benefit to the consumer? >> the benefit to the consumer is right now coal produces about as much electricity in this country as does shale gas. shale gas is much cheaper. so one of the reasons that there has not been a shock and one of the reasons why the 1% withholding increase has not destroyed consumers is that the shale gas that has been bringing down electric. it. lou: is starting to see some trade-off. gasoline is down $0.11 per gallon of the last month alone which will start to have, if it continues, real impact. give us your judgment. paying attention with such perfect pitch. >> a lot of people got short. have not yet covered. with cypress is two tenths of 1% even if it goes down it will go zero. 1807%. it doesn't mean anything. the symbolism is what could have been important. so i'm glad they didn't. lou: they thought about it. they tried to do it. this existed one thing right. that is to reject the you imf and central bank demand on that first run. 6 percent from the little guy and 10%. >> at terrible -- the first one in history where the government has reneged. i'm not so sure that it was not a plot to have it end up where it did. but the burden for that on cyprus so that they did not cut off. lou: and russia provides one-third of the european gas, so it is not an inconsiderable consideration. great to see you and i hope you'll come back. okay. i am inviting you. good to see you. up next, america for sale. using the billions to turn their personal agendas into public policy. i am talking american oligarchs, not the other kind. and no, not talking about you. bill gates and warren buffett. we're coming right back. double jeopardy for amanda knocks. an italian court reversing her acquittal. if we take up the case next. ♪ lou: for this week we're focusing on a new class of folks. 1 percent of the 1 percent of the 1% until this week they were not referred to as american oligarchs because we decided to do it right here on "lou dobbs tonight." we provide services like that, particularly to american oligarchs. it "lou dobbs tonight" changing all of that because the truth is that these folks are spending billions of dollars pursuant their own agendas. they have the money, but the agenda is america's, there's. we told you about three of them in last night's broadcast. the new york mayor michael bloomberg. george soros over here. looking pretty good. facebook ceo, he is supposed to look good. a very young. and we want to just take a look into more. here we have got mr. gates. bill gates. he is pretty impressive. his buddy, the oracle of ormoc, warren buffett. and nice guy. one of the nicest in the world, i would say per billion, perhaps the nicest guy among all of the oligarchs that i know. all of them with their -- they have way too much money and wait to politically dangerous once they start moving all that money around. i cannot sell like the law when they do that. if you notice, bloomberg. i mean, he is not smiling and i don't know why. he is the seventh richest man in the country. i know he is behind these, but he is doing well. bill gates is the richest person in america. he has a net worth of $67 billion. this is what he said just earlier this month. >> some days i wish we had a system like the u.k. where the party in power could do a lot. now it feels like i wish there was slightly more power in the presidency to avoid some of these deadlocks. lou: more power for the presidency? president obama may have to deal with some stubborn and aggressive congressman but gates, he is free to use the money anyway he wants, and the well. but working to get the president more power is in my opinion an unfortunate results. the last thing you want this country, the last thing we want to happen in this country is really in my opinion one of the last things we want, more powerful president, more powerful executive branch weather inhabited by an obama or a bush. now, pumping a hundred million into creating a public school database to track students personal information as well. by the way, and full disclosure, that database we learned was kick started by the educational division of our parent company led by former new york city schools chancellor. and i just have to say, i don't like it. i don't like it a bit. i have a suggestion. if you're going to create a database and do it for the teachers. don't ask your buddy defined it so we can see how successful or unsuccessful the teachers are in teaching their students before the students have to be greater tested. give me a call and will talk about it. well, the gates foundation is now also -- you have to say one thing for him, he is adventures with his money offering 100,000 to anyone it can create a better profit. hundred thousand. not just any. are not talking about just mere contraception. no, the foundation wants a condom that enhances pleasure in order to promote regular use. we will keep you up-to-date on the very best ideas about those as their role in. and then there is the second richest person in america, giving away a lot of this money, so he is down to is last 53 and a half billion dollars. embracing super packsacks some of the others, but he is the democratic poster board for higher taxes on the rich. millionaires and billionaires as if there were some one, well, comparable. a billionaire in a millionaire. i don't see unconnected they could be, but nonetheless, that is a language. he is obviously the poster boy for the buffet rule. so far buffett is not done too much damage. the rule is not a lot. the problem is that when you have billions and billions of dollars, well, you can just keep right on trying. i kind of thing that there well. it innovator, impresario, political dynamo, just a few of the words used to describe the founder and leader of fox news. melanie biography, roger ailes on camera. the other joins us next. ♪ no longer the face of government waste, what are we going to do about them? that thousands upon thousands of vacant federal government buildings adding billions of dollars to our deficit and the national debt. a shocking reversal in the a man and knocks acquittal. our panel tells us whether she may be forced to face italian justice once again. ♪ e does something unexpected and you see the woman you fell in love with. she's everything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more cfident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, set stomach, delayed baache or muscle ache. to avoid long-term injury, seek immediate medical help for anrection lastin more than four hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty eathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial. ♪ lou: italy's highest court overturning american amanda knocks acquittal in the murder of for roommate back in 2007. she served nearly four years behind bars before being freed. the attorney says she has no plans to return to italy at this point. a psychotherapist specializes in domestic violence on the stand again today for the defense and that murder trial. this has to be setting some kind of record. the expert witness explaining to jurors various forms of abuse and of victims of domestic violence fall back in love with their partner. joining is not to give us some insight and perspective on all of this, attorney, former prosecutor, criminal defense attorney. good to have you both here. this trial is just not quitting. goes on. it has to be setting a record. >> it feels like it, definitely. lou: it feels like it. is there a price to be paid? they have to be exhausted. >> they are. you think so. the questions show that there are definitely engaged. think about over 100 questions in both instances where they had the opportunity. i don't think they're losing the jury. now the domestic violence experts to you mentioned, i don't think there will be further intrigue because they cannot connect the dots. they can now understand what domestic violence means which was the missing link. i think they're exhausted and wanted to hear from joe the. they did. the fact that this other experts was on the witness stand for two weeks and now we have this domestic violence expert. this is really overkill for this jury in my opinion because they heard from the person there really wanted to hear from. everything else they are piling on. this expert who will come in and say that this is sell a person who has experienced domestic violence will act or how they will feel and how she fits into the situation. these are smart people. this testimony is a bunch of nonsense in my opinion because it's all about her state of mind at the park where she committed this crime. they're trying to establish that she was so messed up. >> making some faces. lou: we will come right back. she will tell us. i don't think it's going to be good, honestly. or coming back. just a moment. stay with us. ♪ lou: we are back with faith jenkins. you were so nicely ready to erupt and to voice your opposition to everything that was being said. >> not exactly everything, but the domestic violence expert is important to the defense. why? because the domestic violence is going to look at that when it comes to her state of mind when she killed travis alexander. the state of mind that she had was that of a woman who was beaten, that of a woman who was down and out and that woman who was a victim of domestic violence. >> and that's why it's important. nothing the jury will sleep on this one. eyes wide open and there is wide open as well. >> the problem is, there is zero corporation that any domestic violence occurred. all the jury has heard, we listened to of voice recordings. we read the journal entries collective videotapes. there is zero evidence that any domestic violence occurred besides her own testimony. >> i disagree. >> so many men and women who have experienced domestic violence by getting on the witness stand and try to pretend she has suffered so much at the hands. >> there was cooperation. we have the voice recordings. he is calling her on words that are not going to add it into in this program. very unkind, disparaging comments about her. in the media. they degraded areas well. and you also have the testimony of an ex-girlfriend who spoke about his controlling timber, his outbursts. she was scared of him. i think there is corroboration, even if you do not believe it. lou: you're talking about a child that has been going on forever to the point is being said. it may be, but they have to be exhausted. where are they getting the time to set? howl in the world is the -- how can they ask people to surrender this much of their private lives, this much time to a trial like this? does and the jets have some responsibility? this is a pilot. >> right. the judge here is really taking a laid-back approach. to allow martinez to cross-examine an expert there not all of objections. the questions are becoming repetitive. >> to save case. under law you can cross-examine and their is a bottle. lou: we will continue the cross-examination and the rebuttals next time. the key for being here. come back soon. we're coming right back. if you want to join the conversation go to us foxbusiness.com. to get the latest are facebook page. e-mail me, loudobbs@foxbusiness.com. up next, the infamous government-funded vegas-pales in comparison to the hordes of other races. that's next. they're not going to believe it. [ buzzer ] hot dog? i'm buying. i'll use my capital one venture card with double miles you can actually use to fly any airline anytime. ♪ what are you doing? i'm saving one for later. my body keeps it warm. it's like a little hot dog steamer in there. go ahead, touch my chest. no. ♪ what's in your wallet? you got any mustard in there? ♪ lou: some men security secretary janet napolitano is calling upon congress to pass comprehensive immigration reform. she claims the border is more secure than ever. >> we have stationed more border patrol agents than ever before. the numbers have been driven to for your lows if you look at things like apprehensions, we're confident the border is as secure as it has ever been. lou: critics point out the numbers don't tell the whole story. four amigos of that sentence king of a touring the border to march right toward cut a deal on immigration reform and now doing it bind closed doors. senators john mccain, chuck schumer, jeff blake, michael bennett will be there on the border. journalists objective and unbiased. delivered these disparaging and insulting comments about the national rifle association. >> the one thing that is going on here is optics. basically bloomberg has on his side sort of this whole notion that it is time to do something different. and meanwhile, pierre is looking like a tired old white guy that is clinging to something of the past. lou: that thing kind of annoyed me. but maybe it's just me. but the comments were biased, races, ages to come and not so nice. we have not heard back. reports cite calling out the bloated federal government. reporting the federal government owns all leases between 55,077,000 vacant buildings and properties no, i have to say this because my life in all seriousness has been saying this for at least a decade the we ought to be selling those things off. as usual, very wise and insightful. the stunning rise a disability. 14 million people now receive a disability check. costing taxpayers some two water and $60 billion a year. that's more money than we spend on food stamps and welfare combined. think about that. california, well, we will be talking about instead one of my the most successful executives in all of television history in the brand new biography. various. joining us here next. ♪ copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. vair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair cld help improve your lung function. get your first full prescription fr and save on refills at advaircopd.com. lou: roger ailes off camera, a fascinating new book about president of fox news and our boss here, a man president obama once called most powerful man in america, we agree with president obama on this. joining me now, author zev thank you for being here. >> glad to be here. lou: how close to true is it? >> this came up with roger went to the white house to christmas matter. he was in the reception line, the day before someone else called him that in print. he got to the president, obama said, oh, so here is the most powerful man in america, and roger leaned into him and said, mr. president, don't believe that, i stirred that dbus up -- distinguished that bs up myself. lou: which he may have done. >> he probably did. lou: i have had privilege of working for a long time in this business, there is no more feared executive in television news. i would say in television, period. certainly in the news media than roger ailes. he is feared and reporte respeca since ofs character he reveals as you take on his biography. >> i spend close to a year with him in meetings and travelling and social situations, you know, i was just very surprised by how down to earth he is. he is a guy from a small town in ohio. he is at center of politics. he became the kind of a blunt, you know attitude of small-town america which i relate to, i grew up in a town pretty much like his, pontiac, michigan, he is from warren, ohio. lou: which is the s sophisticate then? , i am from rupert, idaho. i did get over it. >> you went to an ivy league school. lou: don't remind anyone. you have been around a lot of smart, highly successful amazing personalities. rate roger's i in-- int rect and wit. >> fox news is his acompishmen. and before that he was sort of a legendary boy producer on the mike douglas show. it is hard to argue with succe success. lou: the idea that he has a wit, referring to the fellow who runs msnbc, i saw one line in an car, count this week, his wit is so razor sharp and can en ca capsup sulate. >> you get one liners from roger sometime, self deprecating. but, usually you survive. lou: we thank you, the book is "roger ailes: off camera yesterday. zev chafettes the author thank you. >> thank you. lou: we'll talk with family research count president tony