Transcripts For FBC Markets Now 20121121

Itll be interesting for black friday, cyber monday and heading into the Holiday Season to watch to get the idea of how the consumers are feeling for the holidays. The dollar is lower, commodities are higher. Transports giving it a go, getting ready for planes, trains and automobiles. Back to you. Melissa thank you so much. Gas prices continue to drop, but it is not all good news. Prices at the pump are the highest they have ever been on a given day. Sandra smith in the pits of the cme with more on todays trade. Oil reacting to the news of the ceasefire between israel and hamas, first of all. Sandra it certainly is. Not really sustaining the selloff. Currently down 0. 24, still a little bit of a selloff but nonetheless prices have been coming down into thanksgiving weekend. A lot of drivers hitting the road, 34 million of them writing. Obviously the ceasefire has an Immediate Impact on prices going down, but a lot of you say oil and gas will be going higher the rest of the year. We have come off of the 100 level. Obviously we have seen high volatility in that market up 3 , down 3 . The last four days of trading up 2 , down 2 , a lot of volatility. All regarding the uncertainty in the middle east as you mentioned definitely prices at the pump are a concern. As long as sales are below 10 100per barrel. It just came off of an extreme. 70s are the lower extreme. Sandra a lot of traders on the floor so they are preparing for higher prices. A lot of these folks are saying if we get a compromise as far as the fiscal cliff, by the end of the year this event means higher oil and gas prices, so there is a lot of indecision down here on the floor, but a volatile market with the middle east playing out. Melissa thank you so much. Just in time for black friday, to survey highlights what we can expect consumers to spend this Holiday Season. Rich edson has the story. Americans will spend a little bit more this year, a justreleased survey of Holiday Shopping says. The Credit Union National association of Consumer Federation of america said retail can expect a better holiday than last year, though not much better. Our basic result is more optimistic than last year, the strongest results in the last four years, however still does not suggest a booming Holiday Season, but a continued improvement from the last few years. Speak of a State College spending to increase from three and a half to 4 over 2011. The numbers behind that, they will spend less than last year. Analysts say plenty of shoppers say they will spend less and never do. 12 admit they will spend more than last year, four percentage point increase, and some of the survey holiday tips make the list, compare online and start saving even for next year. Melissa they will start saving for next year right after they spend less versus last year. It is all hopeful. Thank you so much. Consumer sentiment stolen last month coming in a touch above the 82. 6 following a month of big gains in missing wall street expectations. Its a reality of the fiscal cliff starting to set in . Ubf economist joining me now. I just have to keep praising you every time you come on, youre one of my favorite economist. Thank you. Melissa so tell me, you think consumers are really focused on the fiscal cliff . I think theyr their focus on mg thanksgiving dinner, over problems are going on, pay their bill. Fiscal cliff is like down the listelist. Up until november i think the fiscal cliff was a concern for business and you could see in confidence numbers coming off and the pullback in capital spending. Consumers are feeling good, home prices are up, the job market has gotten a little bit better and you can see Consumer Confidence rising to the highest level of the recovery. But after the election now front and center all the coverage really is the fiscal cliff, the warnings, what might happen. That is finally, as a result, starting to hit home. In october, for example, very few people have the fiscal cliff on the radar screen. Now half of them are worried about it. I think it has moved up the list now for the first time for consumers. Melissa to ask why they are not buying more, they will stand so darn right about that fiscal cliff, i will not get an extra toy. How they really feel it is the equity market is not doing well in the last month. That is what brings it home for consumers. You can ask how has the economy thabeen doing the last couple of weeks they dont feel quite as good as they did a couple of months ago. A lolove that is the equity mar. Melissa the fiscal cliff is probably symbolic that this idea that we have the same people in washington sitting there agreeing about nothing and getting nothing done and whether it is the fiscal cliff specifically for the economy in general, these people are there doing nothing, still theyre the ones who helped get us into this mess. Now they are back. Let me ask you about one more thing. We keep hearing about Companies Like walmart paying dividends before the end of the year, realizing dividend taxes will go up, people can click ahead of time, same thing we are hearing about bonuses. It is easy to pay somebody their bonus december 25 of january 2 depending on the tax treatment. Do you think that is going to impact gdp in the fourth quart quarter, that there is just a lot more cash realized, like mark peabody and we see a decline in the First Quarter because of that, or not . The pull forward effects. That is something that is a risk, although quite honestly us economists have been marking down our Fourth Quarter gdp numbers, were only now looking for growth at about 1. 5 in the Fourth Quarter. The other thing to keep in mind is how much of that money would actually be spent, depends on how consumers are feeling. If they are feeling nervous, the equity market is really under pressure because its getting toward the end of the year and we have not had a resolution, they will be more likely to stay rather than spend it. You may not get as much, the savings rate may go up as the income is pocketed as opposed to the Consumer Spending numbers going up. Melissa michelle, happy thanksgiving. Thank you for coming on. Have a great holiday. Melissa is at the end of the road for pinkies . After intense negotiations, hostess is back in liquidation, the story keeps going back and forth. It is not looking good again. They say the bakers shouldve given him. The the latest coming up next. Melissa dingdong, hostess is dead. They failed to agree to new labour terms. The maker of dingdong, ho hos, wonder bread filing for liquidation. Can they now be saved . I have a feeling it can. Elizabeth macdonald with more. I think private equity is licking their chops to buy these brands. Basically what were seeing is breaking news, Hostess Brands saying an interested buyer toured a plant yesterday for the fruit pies. So there might be some salvation. And other names being kicked about as to the potential acquirer could be to rescue twinkies and Dolly Madison and in domes and ho hos. Here is who we are hearing about. This is a private equity firm, they own chef boyardee, with your beer and tuna. And look at this, flour and foods. They own tasty cake, c. Could see them riding around with tasty cakes, they also own betsy ross and others. What would happen and they pulled it out of bankruptcy, do you still have to deal with the union . The bakers union, yes. But the big fight really with good wage and cost and death at the company. They will still have to deal with the unions. But have to get some workers. It would be hard to get it ramped up and going as quickly as they could. This is an operation in 22 states, so now were talking about for thanksgiving, 18,500 people losing their job. 600 Bakery Stores and the bows. The name of the game is what they could possibly do is hook up with the distributor via walmart and get the baked goods through the distribution centers. It is all about distribution, giving the plant up and running again. The breaking news, Hostess Branded visors saying an acquireacquirer toured the plant yesterday. Melissa is hard to think that they would run it with the unions that very thing that has happened. They would have to strongarm them and say look, you have a job and agree to our terms or you dont. Melissa elizabeth macdonald, thank you very much. As we do every 15 minutes, lets check the market. Nicole petallides on the floor of the stock exchange. Rating cuts for hewlettpackard today. Nicole despite the ratings cuts, dont forget yesterday this stock was down over 10 . And hit 10year lows. The move that you are seeing here today coming back little bit. Not everybody thought it should be down 10, 11, 12 as we saw. That being said, you have one of the names up there. Several analysts cutting the price target. Now 11 from 12. 75 with a celebrating. Coming on the heels of 8. 8 billion writedown that was wesaw hewlettpackard taking on the heels of the acquisition they made last year basically saying those financials were fabricated. This is an ongoing story. Melissa thank you so much. Retailers have a reason to give thanks this Holiday Season . Joining us on the trend come the online Payment Company is seeing. 20 minutes past the hour, this is your fox news minute. Egypts foreign minister alongside the secretary of state Hillary Clinton announcing a ceasefire between israel and gaza. Ending a more than a week long conflict. He brokered a deal set to take effect at 8 00 p. M. Israel time, 2 00 p. M. Eastern. This resulted in a centur ceasee and resume calm. Saying egypt is resuming its possibly of leadership that has long made it a cornerstone of regional stability. President obama israeli Prime Minister Benjamin Netanyahu earlier expressing his appreciation to seek a more advisable solution. Especially in matters of weapons smuggling into gaza. I minister at yahoo express his appreciation for the support and assistance to the iran dome system. That is least for now, now i will take you back to melissa. Melissa thank you so much. It is expected to be a mad dash at stores all over tomorrow night. With some retailers open earlier than ever before. The tradition could be on its way out. Our next guest says Online Shopping is lessen the significance of like friday deals. Joining us is paypal shopping specialist. It does really feel like things have changed. I remember when i was a kid, if you wanted to get the best deal or if you wanted to get something, you had to go on friday, or the day after christmas depending if you are cheap. But now does not necessarily necessary anymore. Are people going on thursday and friday diminishing . It is not necessary. It is really consumer preference. Why leave your family, a lot of people feel like my life go to the store to get great deals, cannot find the same deal online or on mobile rea. Theres a huge shift of mobile shopping. Something at paypal we call it coach shoppers. Go from the table to the tablet. Melissa you work for paypal, but are you going to get a better deal . Do they have cheap items to get you into walmart . The deal you cannot get anywhere else, and perhaps you could hose and Everything Else in there. They have a limited quality items or door buster items, but youre taking a risk by going on thanksgiving night or early on black friday to find those particular items when you can truly find the same deals even now online and on mobile devices there are apps to help you find those deals and they are out there now. Melissa i see it everyday, you see something and you can do such a wide search. Even in a story can pull out a map like red laser and see if youre getting a sale. You can find the deals online and on her mobile devices. Melissa what does it mean if black friday isnt as important any longer. We are seeing the shift to whether your instore or online or on a mobile device whether that is with paypal or not, ebay also is doing mobile deals only starting at five 23 on thanksgiving day. 5 23. They will be sending out mobile deals throughout the holiday weekend. Melissa we talk about at the beginning of the hour rich edson was saying a big percentage of people who say they will spend less. What is your take on how people are feeling . We have absolutely seen that, but shopping makes people feel good and were seeing a lot of people spending 150 on themselves this Holiday Season in addition to the total of 750 i750they will be spending for te holiday. It makes you feel better, your giving to yourself. Melissa that is how we all break yoor budget. Thank you very much. Even with an ongoing war with apple, samsung looking to be very flexible with their phone next year. The tech giant said to be ready to begin mass production of a line of phones with bendable screens. I love this. The wall street journal reporting theyre going to ship in the first half of next year. The devices will be made from plastic rather than the glass and will use organic light emitting diodes. Any technology that has been in development for many years and currently in some tvs. The use of plastic will not allow the phone to bend, also making them lighter. And more durable. Some consumers are said to be currently testing prototypes for the company. The Security Exchange commission now involved in what could be the biggest Insider Trading case on record. It has them under the microscope. Charlie gasparino is coming up on that. And ceasefire in the middle east. We are headed live to israel for that next. Take a look at the winners and losers on the s p 500 as we head out to break. Petroleum trading higher on the day, about one and twothirds of a percent. We will be right back. [ engine revs ] [ male announcer ] the mercedesbenz winter even is back, no matter which list youre on. [ santa ] h ho, ho, ho [ male announcer ] lease a 2013 ml350 for 599 a month at your local mercedesbenz dealer. Can i still ship a gift in time r christmas . Yeah, sure you can. Great. Wheres your gift . Uh. Whew. [ male announcer ] break from the holiday stress. Ship Fedex Express by december 22nd for christmas delivery. Melissa time for stocks as with every 15 minutes, before the New York Stock Exchange for Nicole Petallides is standing by. Nicole look at the profit numbers, theyre below the analyst estimates. The stock is down roughly 4 coming under pressure. A lot of people look at beer and caterpillar for the economic indicators. It is not good news, you can see the stock is down. Manufacturing cost, others are cut into the earnings. They talk about a strong dollar and fluctuating currency. Another factor as well. Weaker international demand, so talk about the global picture, this certainly factors into that. Some higher prices are two good things they had on their list. As far as the year 2013, theyre talking about a commodities boom in south america. Expect south america to show the strongest demand in 2013 because of commodities boom. That is one area that may be a glimpse of hopes. Caterpillar is not the dow type. Melissa nicole, thank you so much. Secretary of state Hillary Clinton, egypts foreign minister announcing a ceasefire agreement had been reached between israel and activists. The ceasefire is set to take effect in 29 minutes, the past 30 minutes a heavy rocket barrage heading out of the gaza strip, 10 missiles heading that way, another missile heading that way, went into town. We are able to overwhelm the iron dome Missile Defense system by firing multiple rockets at one area. If it happens and comes together in the next 30 minutes i is more than a ceasefire. An agreement to end the rockets into southern israel and israel decided to end the assassinations of hamas and jihad leadership inside the gaza strip. Granger and weapons smuggling and also egypt guaranteeing the fact the rockets would not fly. The whole hamas responsible. We are on day eight of what has been a punishing ground air war between hamas and israel, more than 5000 targets hit inside the gaza strip, 140 palestinians dead, five israelis dead, more than 1000 rockets launched here into israel. It is important to note how this changes the strategic map of the middle east. A couple of years ago was in jail as a leader of the muslim brotherhood. Major see ceasefire deal. Secretary of state Hillary Clinton have all spoken to his help in securing the ceasefire deal. Now you just wait to see if in the next 29 minutes if it is all quiet on the southern front. Back to you in new york. Melissa probably not. Thank you so much. Return to the middle east analyst and author of the coming resolution. Thank you for joining us. Give us your reaction to the breaking news right now. What we will see in the next 29 minutes or a few hours is a possibility that there will be major ceasefire, but not all operations will end as a possibility, hamas and others will fire rockets. But the bottom line is the two sides that would be gaza under hamas control backed by the government and israeli backed by the United States have agreed on a longterm ceasefire. We would not be shocked if theres exchange of fire and if gaza will accuse israel the ceasefire will hold, but we have to analyze now who got what this agreement agreed upon today. Melissa what do you need to hear the details of the agreement . Basically everybody feels they have been satisfied. Israel will be satisfied, that is all they need. Hamas will be satisfied if their leaders wont be targeted by israel. Very important for them, no air raid over gaza, but they will ve ty a price. Who guarantees that . The longterm nature of the equation is tesident of egypt because he is the big peacemaker of the region. Melissa what do you think youd ask for, what would he do to keep the peace . This goes back to what you and i discussed, money for egypt. Who is going to go to congress now and say we dont want to spend money and training, he is the kings maker, the peacemaker of the region. That is a big thing for morsi. Melissa so we will send egypt money to hold this in place after they were the ones funneling missiles to gaza and into hamas. It reminds us of neighborhood politics and policies here and elsewhere. He is the one who encouraged hamas. Allowing some of the missiles to go. A heavy exchange of fire and he comes and says i cant stop that fire against israel. Melissa thank you so much. It is supposed to be a time of year to give back and feel thankful, instead unions are targeting airports and retailers. Just Holiday Shopping and travel kicks into high gear. Who are they really hurting . Lou dobbs ahead. Right now the dow was up 48 points. Greece International Lenders failed to come to an agreement on how to reduce that nations sovereign debt. The greek Prime Minister says a lack of a deal over technical reasons does not justify holding up the aid needed to avoid default. The national implement rate may be rising, this falling in many states. 37 states plus the district of colombia reported unemployment levels decline. South carolina, alaska among those with the biggest drop. State that went higher good arkansas, massachusetts and vermont. That is the latest from the Fox Business Network giving you the power to prosper. Melissa happy strikesgiving . Flexing their muscle, disrupting on the busiest travel days of the year. Thousands of workers at Los Angeles International airport are expected to strike. Walmart workers expected to be taking to the picket lines over black friday hour starting on thursday. Who are they really hurting . Lou dobbs with his take on that one. And this travel out of lax isnt tough enough, try to disrupt traffic. This is a real display of ignorance on the part of these unions. First of all neither of these groups represent walmart, which also has actions planned against it on black friday. They dont represent the group at lax. Melissa i did not realize that. They were thrown out by one group of workers at l. A. International. They are not demonstration against the employer because theres nthere is no relationshn the two. They could be striking at any random business anywhere in the country for all the effort theyre putting into this. Theyre doing it purely to disrupt traffic travelers and others who will be inconvenienced without purpose. What is the point . To bring forward a grievance against one of the employers . It is absurd. And the nlrb, theres happy with the complicity in los angeles of the city in which they are not required permits for what will obviously be a disruption at l. A. International and the port authority. It is really disturbing to watch it. Melissa in both cases i was reading through their list of grievances, they both talk about High Health Care costs. Obama carries on the way, why strike about that . This is a lashing out by severely stricken, if you will, organized Labor Movement in ts country. They represent 7. 5 of the total workers in the country even with the effort of this administration they cant move their membership forward. Melissa they remind me of my twoyearold at a time. It was walmart in particular, definitely wont have the desired affect. Even if we sympathize. Sympathize with what, people have jobs . By the way, nobody is forcing anybody to work for walmart, nobody is compelling them to do so. And the only one interested in course in here is the Service Employee unions themselves. To me it is regrettable, it is regrettable they are being permitted to do so. You will love this, the nlrb says it is a very complex issue. We should point out today private mediation between host is and its union failed, which set them up to move toward liquidation assets. 18,500 jobs to be lost shutdown, 33 plants. Melissa they will be picked apart and perhaps some of it will be resold. It will still be a net loss read that is the choice of one union that refused facing the future with this bankrupt company. They refused to take what would be a net 4 rollback in their pay. Lori i can see you everyday at this time. I also watch at 7 00 and 10 00 p. M. Eastern on the Fox Business Network. And your back . Melissa 5 00, money with melissa francis. Thank you for mentioning that. It is a great show. I know you are insanely jealous. Melissa it will all be fair in the end. A quarter until, lets check the market, Nicole Petallides on the floor of the New York Stock Exchange. Not sure what your kids are asking for this year, but i thought this was so 48 of kids between the ages of 612 want and iv and ive ipad. Nicole when i ask them, apple products are hot, and based on this Nielsen Survey they do every single year, kids 612 who all want the apple ipad. They have other things on the list as well. None of these products are cheap. Apple is doing a special thing on november 23 where they have a shop online, order looked at the full screen of that, a special shopping event, a Holiday Shopping event on the cover of that we have an ipad. I wonder if youll be getting some discounts on this hot product. Some of the older kids, not as many wanted the iphone. A lot of the experts are speculating that is because they already have one. Melissa that wont stop them for long. As soon as there is a new one, that is what they will want, the new one. It never ends, it is very expensive. Thank you very much. 14 billion Hedge Fund Company now at the center of an Insider Trading case. Charlie gasparino is he with exclusive details. And they look at the winners and losers as we head out to break. Research in motion trading up by better than 3 back up above 10 per share on the nasdaq. We will be right back. [ male announcer ] this is steve. He loves risk. But whether hes climbing everest, scuba diving the Great Barrier reef with sharks, or jumping into the marke he goes with peop he trusts, which is why he trades with a company that doesnt 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 isnt rocket science. Its just common sense, from td ameritrade. Melissa sap capital says the hedge fund and founder acted properly in the cooperations with the government in the 276 million Insider Trading case, the largest ever taken on by the security and exchange commission. Fox business Senior Correspondent Charlie Gasparino here with exquisite insight into how he runs his 14 billion hedge fund. That is the largest amount of alleged illgotten gains received from insider trades. This is a lot of money. I have never heard of them safely made a quarter of a billion dollars insider trades. I keep forgetting the guys name. What is interesting about this, he is not named directly but he profit and engaged in using the insider tips that the guy gave to him. We dont know if he knew there were insider tips, what we do know is he used the alleged insider tips the guy traded on himself. Here is the interesting thing. Go back, does this mean he is guilty . But he worke the work is a litt. He runs a huge hedge fund, he has been sued a lot. I got one of his depositions by fairfax financial which claimed he was mutilating the stock downward illegally shorting it. The suit has been dismissed. It is pretty interesting stuff about how he runs his fund, very decentralized. Him in the middle, who manages 5 of the 14 billion a bunch of Portfolio Managers around him. He has his team, and in doing that he takes advice from people, tips from people. This is what he does all day. The question is giving those tips, does he know this is Insider Information . In the deposition he talks about how all these guys received training, extensive training in how not to use inside information. Theres a Company Compliance manual that forbids executives from using Insider Information. What is interesting if you read on, he go Insider Trading itself, sometimes a judgment call. It is interesting. Your understanding of the rule Insider Trading rule is there are times you are permitted to trade on the basis of material nonpublic information. Heres what he says. I cannot give you a yes or no answer. Incredible insight into how he looks at Insider Trading. I talked to a lot of government investigators, they believe the rules are pretty clearcut, material, nonpublic information, all of these guys should know it. He says he does not think it is clear cut. Melissa they love to hound him anyway. I dont think they case filed against the Portfolio Manager yesterday is the evidence that indicts him. It shows theyre looking at him, obviously, but the government is taking a really hardline, they think everything is Insider Trading and i think the rules of the game from my view is the rules of the game have shifted. Now he has a world of trouble on his hands. We were the first report on fox business they were looking specifically at him as if they did not like that report, it was very well known. We were right then, if you look at what is happening now, we are even more right now. Melissa we are looking. Charlie gasparino, great reporting as always. Thanksgiving festivities have begun and off to grandmothers house we always go. Over 39 million by car, 3 million will hit the friendly skies, so everybody get to turkey on time or does Mother Nature have other ideas for us . Janice dean is in the Weather Center with what we can expect. Happy thanksgiving. To you as well, melissa. Were still looking at airport delays. Chicago had so much fog, theres a backlog. Significant delays for detroit and st. Louis as well as kansas city, Oklahoma City and houston as well. Call ahead, certainly and pack your patience as they say. Looking at the northeast, new york, moderate delays as well as philadelphia. In terms of the weather, mostly country is quiet except for the northwest slammed with storm after storm after storm and it will continue to linger into the weekend with the rain and mountain snow. And then it will dry out into the new workweek must that is the good news. Wednesday travel looking really good for much of the country with the exception to the northwest, central u. S. And again this area of the northwest getting rain and mountain snow. I am thankful for your book, your book is keeping me occupied. I love it, awesome. Melissa thank you so much. Thank you for the great weather for thanksgiving, we cannot wait. Have a great holiday. Ceasefire reached between israel and hamas. Coming up tonight on money, we have a Senior Advisor to the mayor of tel aviv, he will join us for an exclusive interview tonight at 9 00 p. M. Eastern here on fox business, you dont want to miss that. Coming up, record low Mortgage Rates could alter the housing rebound, but Real Estate Investor says dont get too excited just yet. She joins tracy byrnes on fox business up next. Here she comes. Liz welcome back. The dow up 54 points. Tracy byrnes has joined me. We are talking about the fact that 46 of kids between 6 and 12 one and i and im shot 40 of kids have not figured out a way. They are beyond expensive but a hand me down refurbished, all the money spent on Everything Else. Tracy the acme is the perfect solution. Im not sure i would buy those tablets. Why not hit the ipad . Sandra amazing to see how many kids have them. So many educational games and stuff but it does raise the bar. Tracy skype grandma sandra i can hear you justifying these purchases. We will have a terrific show. Happy thanksgiving. Tracy i am tracy byrnes. Melissa was bringing it up. Are americans ready to spend more money on Holiday Shopping season . We are going to enter Big Questions about the state of the American Consumer. The best retail analyst in the business, marshall here to tell us with stories bring up the biggest sales and hostess back in court after Union Workers again refused to take cuts to keep the company and the business open. What is next for the iconic american bakery added 18,000 employees . We will tell you. Morsi eight is of escalating violence israel and hamas have agreed to a ceasefire. Oil prices reversed course on the news. The latest on at as well. Time for stocks as we do every 15 minutes. Nicole petallides on the floor of the stock exchange. We are at highs of the day. Nicole an exciting day on wall street. We have an up arrow, especially monday reached in 210 points and some folks thought we would give that all back this week so we are not actually doing that. Were staying in the trading range of you are bullish and we have four weeks of selling and this may be the week, so the Dow Jones Industrials up 55 points worth nearly 1 2 , tech stocks leading the way on the dow, hewlettpackard and Cisco Systems and microsoft and bank of america has an up arrow and boeing and other defense industries, that is another winner so there are a lot of winners to speak of. One name is the year and company and its significant pressure. Coming up with profit that missed analysts expectations. International demand cut into things for them as well as they are expensive and those costs, and other places for growth in south america. Tracy apple revolutionize tes. Retail in investor america but it is caught up in black friday media, counting sales. After thanksgiving. Is it time for a company that load the discount . Adam shapiro, nothing i purchased did they decide to do it . You are not cool enough. You are very cool actually. Here is the deal. If you speak to marketing guru, sales were undercut the image or the brand, apple is careful but they have discounted things in the past. Or discount for the employer or that kind of thing. Have markdowns for ipad 2s, and 41 and imax 101 and what apple is doing, i am going to hold it up, sending emails to peoplenot so good. It has a bowl on top with the apple things. They send emails to people saying get ready for the apple shopping event. It is one day. There you go. It will start at midnight friday, november 23rd. They are not saying what items might be discounted. If youre trying to get a new highmac they are not even for sale. You cant even buy one right now. Forget trying to get a deal. On friday that may change. And have everyone excited, the email they sent out 24 hours is all you get, cool for school. Tracy i want the many ipad. You were a thug in High School Use to beat up people. Tracy apple is not the only retailer gearing up for the season. The next several days will be crucial to the entire industrys bottom line. Joining us with more on which stores are poised for success is marshall chicohen chief analysth npd group. These retailers have got to get into the twentyfirst century. They recognize they are competing with online retailer stealing their market share and we have heard of christmas week where they set up shop earlier and earlier. This is christmas crunch. What this is is trying to beat the competition to start and get early dollars from the consumer to build momentum. If you stay out of this you will be left behind. Tracy they had no choice but to open a. They have no choice. Tracy why cant i go from desert to the couch, and get on my ipad . You can bet it is about driving traffic to the stores and the sport of shopping. 12 of consumers participate in the black friday bonanza. Now this is going to offer the opportunity for a broader sector of consumers. Now you start as early as a 00 p. M. And get the family together to spend how many hours eating more watching football or can you watch 12 hours of football . 9 stuart 2. Tracy it is more about getting people in the stores than about making money. Not about making money. Is about building momentum, getting the consumer caught up in the frenzy and spirit of a holiday. And they continued to shop, buy things for yourself while buying items for others. 26 of consumers during holiday, buying 4 others. Tracy they go back to buy more of them. Tracy for busters and all that, are all that necessary your willing to be flexible and doing homework and be patient, and the consumer who loves that discovery or Treasure Hunt shopping, to get a good deal. Tracy and [talking over each other] social media will be filled with people sharing diffeeent things. Tracy who wins . Does brick and mortar beat out ecommerce . With his seen them with growth rates for the last five years, it actually may be brick and mortar that gets the later level of growth rate because so many cuban getting caught up in this new opportunity to shop. You are going to get double the amount of consumers hitting the stores from thanksgiving day through monday. Tracy take my family with me on thanksgiving and take this out. Why dont come home and get a better deal on line . You want to find a parking spot and get into the mall and wait on the line to get into the store . You dont want to wait and come, emptyhanded. When you drag a family with you, it is all about getting the product and sharing what you got . Tracy if youre going out at 8 00 on thanksgiving night your coming home with something. Coming up emptyhanded. Tracy what stores when . When toy stores are going to win the early war you have to have the full on retail like walmart or target, they want to spend a lot of time and energy putting forward what theyre going to do. Look at electronics, and theres nothing new other than items in the electronics market. And those that spend a lot of time advertising and extended hours earlier again, are the winners. Tracy is that why apple is putting stuff on sale . I can speak for management but if i was a retailer and i didnt participate in this unless you are in the luxury end of the market you may miss out. And their product being sold in other locations being taken advantage of. Tracy there is no hot anything this year rather than electronics. Cellphones and other interesting items, and tracy my kid asked for sneakers. And moccasins and boots and fragrances hot item this year and fashion accessories. It is the same things. And discounted to get some good deal. Tracy and the tv purchases. We approve this every year over and over. Good deals are had during the black friday weekend by the black Holiday Season, best deals are after a holiday and sometimes after a super bowl. That is when new models come out and their best on the existing inventory. Tracy theres a lot of saturday before the game go out to buy the magnificent tv and must get totally wrong to. How many consumers have wall space to put up another big screen tv . Tracy you said to wait. Footwear is a good opportunity. And the end of the Holiday Season. Tracy will you go out thanksgiving night . I am out if the consumers on the line at 8 i am their 6 00 interviewing them on what they want and i dont stop until sunday afternoon. Tracy youre going to leave thanksgiving dinner . We dont do thanksgiving dinner until the weekend. Tracy because you are working. Exactly right. Tracy you know what you are talking about. Tracy keep coming back and telling us about it. Happy thanksgiving. Tracy much more to come on another really busy news day. Hostess back in court over the liquidation plan. Liz macdonald will have the latest on that and stocks have taken a dime since election day. The others are still positive since 2012. What will the last 6 weeks of the year hold for you and your portfolio . We are going to tell you. As we do every day lets see all oil is trading especially based on what is going on overseas. Basically flat. 87. 31 a barrel. We will be right back. Tracy we want to take you to the white house for the annual president ial tracy president obama just pardon that turkey. I am reading my script incorrectly. The turkeys are hardened, they also live happily ever after. It will not be on anyones dining room tables this year, nor ever. All right. We have some real breaking news. Jesse jackson jr. Submitting a letter of resignation today and we will bring you the latest on this as the story develops. It is 15 minutes after the hour. Lets check on the markets now as we do every 15 minutes. Nicole petallides on the floor of the stock exchange. You got some tech movers down there today. Nicole we have some names to watch on a day when the nasdaq composite is up over one third of 1 so lets take a look at a couple names. Salesforce. Com be on the top and bottom lines so were watching sales force as a winner and maintain their outlook for the rest of the year so there is a look at sales force and we will talk about hewlettpackard. Yesterday we saw the stock tanking down 11 throughout the day. It it ten year lows and they have a writedown of 8. 8 billion after their acquisition of autonomy which the Software Company acquired last year that the financials were not what they seemed to be. You have a lot of analysts jumping on board as well but here it is. Hewlettpackard jumping 0. 30 and was uu 2. 5 . That does not the race yesterdays losses, and analysts cut their targets. Tracy strategically challenge is an understatement. Hostess is a dead. Hostess i cant say that. Hostess and its bakers union failed to agree to new labor terms so the maker of twinkies, wonder bread, is heading for bankruptcy liquidation and to is to blame . Can this American Icon brand the save . Elizabeth macdonald . Where the twinkies ago . Liz talks failed because hostess said to the union, went on strike against hostess plants across the country, we want wage concessions and pension cuts down 25 million from one hundred Million Dollars the year, Health Benefit cuts 17 in exchange, more representation and have a 20 ownership stake in the country, the Union Rejected that. Now 18,000 people could be out of work, hostess is in liquidation, 600 plants and stores and bakeries across the country being liquidated but there the silver lining, some buyers potentially coming to the rescue. We have breaking news out of hostesss Bankruptcy Court saying they had a flood of inquiries and also that Hostess Brand advisers saying someone, the drake plant yesterday. Some people being talked about, potentially acquiring twinkies. The private equity company, metropolis and Company Already own chef boy are the and bubble to the, flowers food, kc cakes and brand names like blue bird and others. Interesting stuff. There may not be the end of twinkies or Dolly Madison. There may be at the ending. A lot of potential interest in buying these brands. The Company Brought in 2. 5 billion. Twinkies brought in 70 million alone. We may not see the end of twinkies yet. Tracy para two sides to every story but seen the unions kill that. Liz that is the story. Tracy we will talk about that no more twinkies. Liz macdonald, happy turkey day. Much more on the outlook for stocks. We will talk with one big money strategist who is bullish and cellular he is putting his clients money and take a look at how the dollar is fairing right now against its foreign currency. It is up against the euro and dollar. The euro has been falling since they could not come to terms on the greek debt crisis. We will be right back. Looking for a better place to put your cash . Heres one you may not have thought of fidelity. Now you dont have to go to a bank to get the things you want from a bank, like nofee atms, all over the world. Free checkwriting and mobile deposits. Now depositing a check is as easy as taking a picture. Free online bill payments. A highly acclaimed credit card with 2 cash back into your fidelity accoun open a fidelity Cash Management account today and discover another reason serious investors are choosing fidelity. [ male announcer ] they are a glowing example of what it means to be the best. And at this special time of year, they shine even brighr. Come to the winter event and get the mercedesbenz youve always wished for, now for an exceptional price. [ saa ] ho, ho, ho, ho [ male announcer lease a 2013 glk350 for 399 a month at your local mercedesbenz dealer. Pr your fox news minute. Moments ago ceasefire between israel and hamas taking affect ending a more than a week long conflict. Egypts foreign minister announcing the deal alongside secretary of state Hillary Clinton. The agreement promises the two sides will all pay tax on each other. Is real also agreeing to lease a blockade on the gaza strip. Egypts new government, brokering a deal saying he did is assuming the responsibility of leadership that has long made it a cornerstone of regional stability. Israeli Prime Minister Benjamin Netanyahu spoke earlier saying after consultation with president obama he felt it necessary to ceasefire to enable a situation of calm so israelis can return to their normal lives. In a call to the Prime Minister earlier today our commanderinchief voice the United States commitment to the security of the u. S. State. President obama spoke with egyptian president thanking him for his efforts to achieve a sustainable ceasefire. That is the latest for now. Back to you. Tracy a lot going on today. Thank you very much. Our next guest really bullish on the markets saying by blue chip stocks with high dividend yields. Auld despite the uncertainty over taxes. Joining us now, founder of conversion coaching. I am glad you are here because you are so rational but you want to buy these dividend paying stocks even with taxes on the table. I do want to buy these blue chip dividend stocks. I think our politicians will be somewhat irrational. The worst case of the fiscal cliff will be avoided and if that is the case i think blue chip stocks are cheap. You have to ask what happens if they dont avoid it . What if we had a recession . The way to protect yourself, take advantage of these cheap prices to buy blue chips. Some of the names i like our walmart. The stock is cheap, below the 200 Day Moving Average trading around 69. They got hit on this Corruption Scandal but it is a temporary thing. They will pay a fine. I like the stock at this price. Tracy probably had a nice Holiday Season. I like the look morris stocks yielding 5. 3 , dividend yield, on a pullback, the stock is cheap. Tracy will not stop smoking regardless what happens and verizon also on your mind. Very boring. The stock has gotten beaten down to its 200 Day Moving Average trading around 42, 4. 8 dividend yield. Even if we have a recession next year that dividend is safe and could keep playing it and people are so attached to the data plans they will not get rid of their phones. Tracy telecom will define regardless. The you think we are putting too much weight and dividend taxes going that . Even if it does even with your yields, you are still ahead. Especially when you look at a ten year bond yield. I still think this is where you want to be. The other thing is a couple issues i am looking at, lets say what happens, worstcase scenario we go into a recession next year. I dont think it will have the bite that 20082009 did and there are a few key reasons why. Housing prices already crashed and already starting to recover. The Banking System already crashed and is already on the man. It has a long way to go but i think the biggest statistic folks are not looking at right now is consumer debt. The consumer has been delivering. The percentage of debt payments is a percentage of their income, to level since 1982. Also 1994. Both those periods of time precede major move higher. What i am saying is the consumer has the ability to spend again, they delivered, we need a couple things toogo the right way and even if they dont i dont think it is a worstcase scenario situation like we saw. Tracy the worry about overseas, europe or china playing in . Will always be an issue. Anytime you see that it is a buying opportunity because things are going to improve. Tracy thank you for being here. Coming, is your holiday budget bigger than last year . We are going to tell you how most americans are adjusting their spending next. The turkey day travel rush is on and we are live from one of the worlds busiest airports. Jeff flock has a preview. Jeff is the busiest thanksgiving day travel weekend airport, and it was foggy earlier lists will you get where youre going . I will answer that coming up. c can i help you . I heard you guys can ship ground for less than the ups store. Thats right. Ive learned the only way to get a holiday deal is to camp out. You know weve been open ll night. Is this a trick to get my spot . [ male announcer ] break from the holiday stress. Save on ground shipping at fedex office. Tracy lets get a check of the markets, Nicole Petallides on the floor of the stock exchange, stocks of of their highs. Lets ask the jason, we had four week of selling, it is coming in as a winning week. Would you make of that . Postelection, black friday, retail numbers and people are excited the storm has subsided and we look to the end of the year and hopefully change this field. Nicole a look at the trend between now and the end of the year ended is still to the upside and consolidating and bottoming out around these levels . I agree with that. We close on a high note. It is the macro issue going on right now, geopolitical what is going on in israel, clouding the economic issue that will go by. Nicole you talk about the consumer and Holiday Season. How resilient to you think the American Consumer is . Very resilient and frankly i think in the northeast, we were all affected by the storm but it doesnt a picture of the whole country and the election is over and people want to forget Everything Else and go out and shop for christmas and holidays. Tracy when the going gets tough it is time to go shopping and we will have our turkey soon. You are an iron man who competed in the white, exercise before or after our turkey . Probably after. A few days after. Nicole a lot. Back to you. Tracy you get it all from jason. You get market information, fitness information, like 1stop shopping. We will see you in 15 minutes. Breaking news, oil closing up 0. 63 at 87. 38 a barrel. That is a gain of 3 4 . You might want to pack some patience and your suitcase, and this Year Airlines cohen to cut back on the number of flight schedules and holiday rush. And chicagos ohare airport, one of the nations busiest. It is a bigger mess than normal, because they cut back on the number of points. When you have a problem like today with heavy fog in the morning even though it is sunny out there you have heavy fog this morning, the latest numbers i have, 62 flights at ohare canceled, and midway, 500 delayed flights. Look at the board. It is not a happy time. Anything you see in yellow on that board is canceled or delayed, that is what happened. Because of this and the airlines have fewer seats out there now, they have done well. Stocks a doing better, they are making money. It leads to not as many deals for you and when you get a situation like today where you have cancellation you dont have a lot of extra seats, and a canceled flight. The afternoon rush, you see the kiosks bill that the american terminal, ohare the busiest thanksgiving airport in the u. S. Tops jfk and all the rest. It is busy. Tracy it looks at. Consumers lose bigtime. Jeff flock. Jeff that is the way it goes. Sometimes you win, sometimes you lose. I would not want to go anywhere today. Tracy i am staying home. Had a tough time getting over the George Washington bridge. Happy holidays. Holiday travel or Holiday Shopping, a new survey has surprising predictions on how much americans are planning to spend this year. Are you a big shoppers . Im a terrible relative. Dont expect much. Tracy gift cards, dont even try to buy me anything. Get what you like. I agree. As a nation, as shoppers we will do all right. The Credit Union National association, Consumer Federation say american shoppers are growing more optimistic about their Financial Futures and the holiday economy is recovering from the recession. Since 2007 the percentage of those planning to increase Holiday Spending has never been higher and the percentage of those planning to reduce the spending has never been lower. People apparently are more prepared to spend because they see a brighter economic future. The survey predicts Consumer Spending 4 more this Holiday Season than last year and nearly a quarter say their financial situation has improved. Rich said so last year. 1 3 say it has gone worse but that is down from 37 last year. As for ways to save money this season the groups say make a list before shopping and stick to it. Also compare prices on line. Tracy my theory is we have frugality fatigue. We are sick of budgeting. We are going to charge up Holiday Season deals next year. That is my stupid prediction. When you get to the store the stuff looks so nice. Tracy can you put garland on anything. Rich edson, have a great thanksgiving. Mortgage rates falling to another record low. Is the housing recovery for real . Realestate investor tiny market any shares retake but as we do every day this time of day lets look at the 10 and 30 year treasuries up one basis point, 1. Six eight and 30 years moving slightly as well. Actually is unchanged. 2. 2 . We will be right back. I am robert gray with your fox business brief. Sox continue on this short holiday week with the dow of 47 points and green arrows across the board and modest gain for major averages. Consumers will spend 43. 5 billion online this Holiday Season. That is a 17 increase from last year. So far this Holiday Season consumers have spent more than 10 billion. Toyota is recalling some 150,000 tacoma midsize pickups. The company says the spare tire may come loose and fall off. The 2001 through 2004 model year trucks were sold or registered in 20 cold weather states and washington d. C. The automaker will notify owners of the recall next month. That is the latest from fox business giving you the power to prosper. Tracy it has been a darned good week for the housing market. The recovery is on pretty firm footing. The news that existing home sales jumped 2 from october to september, and Home Builders sentiment rose to its highest level since 2006. Yesterday we had more good news, Housing Starts, to the highest level since july of 2008. Ended drop to a brand new ecord low. The 30year fixed at 3. 31 . With is good news the next guest is a little cautious. Tanya, president why . We have to remember a lot of things. Even though theres a lot of money this administration is not pro home ownership. For all the debate and everything would listen to the last several months we did not hear a lot about housing. One of the things that is interesting is we know how hard it is to get a loan. We did some research on that and here are the numbers and the sums it up. Borrowers of crude for conventional loans in october average like oak score at 762, that is nearly perfect but heres what is even more interesting. The average psycho score for mortgages insured by eddie f h a was 700. What happens to all those people who are just coming off of their short sale at a three year mark where they should be buying again but their Credit Scores might be 650 and maybe they are a responsible buyer, they have to loosen up these credit lending limits. Tracy 90 of loans are backed by some Government Entity at this point. You made a great point in Housing Starts number. It was up but multifamily units means renters. It doesnt mean buyers. Exactly right. That means we are still along the path to being a rancher nation. Home ownership is scary for a lot of people and even people like i said that coming off of the short sale way back when and are able to buy again are dipping toes in the water. They are not diving in head first because renting has been easy. We have to make homeownership exciting and good again for people that can buy. Interest rates are low. Tracy we heard ben bernanke give a speech saying theyre going to be low for a long time. Do we need to see rates go up to get people off of their buds and shopping . I disagree with that. We need to leave rates alone. For people who are just about to get ready to look at the housing market, looking possibly to purchase again for your personal family home. Investors need to dive in but personal family home buyers, we need to give them the incentive of lower rates. Im not a believer in motivating anyone by fear and moving the Interest Rates, theyre going to go up. That is inevitable. Leave them here for a while and let people take advantage of the market and let people take advantage of good Interest Rates and Jumpstart Housing like these numbers are showing. Tracy banks dont want to lend money at low rates because they wont make money for 30 years at 3. 1 , maybe you need them to loosen their lending standards. Is a doubleedged sword. You have to figure out what is the best thing to do right now for borrowers and if borrowers could borrow at the 650 credit score they would pay a little more to buy again and the 650 credit score is still tough. Tracy insure is. I have a good credit score and i am having a tough time financing. Happy thanksgiving. Happy thanksgiving. Tracy it is a quarter till the hour. Time for stocks every do caller minutes. Back to Nicole Petallides on the floor of the stock exchange. We are talking city book. Looking at city. The banking index is to the downside. We focus so much on europe and greece, now citigroup says they will close half of its Branch Network in greece and city is the last International Bank with a countrywide presence in that country and shutting all of its branchs peroxide so if you want a citibank in greece, you have got to go to athens because they are shutting down a lot of branches and closures will result in 170 layoffs. Lets look at the other financials and how they are ferrying. The banking index is to the downside but bank of america has been a great performer on the Dow Jones Industrials today on a day where the dow is looking pretty good over 1 3 and talking about a winning week on wall street after four weeks of selling. Tracy that is the last thing your ancestors need. More layoffs and greece. Not so good. We will see you at the top of the hour. Gas prices have been all over the map this years so where are they heading the Holiday Travel season . We are looking for answers next but first, take a look at some of todays winners and losers on nasdaq as we head to break. Research in motion up 5. 6 . F 5 networks moving today. Your big loser down almost 4 . We will be right back. Gas prices continued to drop but not all take a look at gas prices compared to last year. Prices at the pump at highest they have never been for this time of year. Sandra smith at the cme with todays trade. Sandra im not feeling any relief. It was 0. 07 higher from the same day last year. There is some good news in this. 0. 42 a gallon. That is down 3 down 0. 08. And lower crude prices, and that did not last very long. I am reporting from trading courses down here. There back higher again at 87. 56. And gasoline prices, and today popped higher and there up as we head into the weekend and couldnt come and a better time the prices come down over the past few weeks because aaa says fortyfour million americans will be traveling over the Holiday Shopping, 50 or more miles, 90 of those travelers, and the big question is will these lower prices last . I do not believe that to be the case. The fiscal cliff, middle east and all those are big factor here. They say the fiscal cliff if we get a compromise by years end will be positive for oil and gasoline and as the conflict continues in the middle east, the premium continues to build in the price of these energy products. Not much good news other than the fact prices of come down the past few weeks and you are paying less than you were over the holiday but they are calling for higher prices over 90 by the eed of the year. Tracy 95 to 100 a barrel. It will not go away anytime soon, are they bullish . Tracy happy thanksgiving. Oil prices cut some gains after the ceasefire was reached between israel and hamas but prices like the earlier after a bus explosion in tel aviv injured 16 people. And reported unexpected drop on oil inventories. For more on the outlook we are joined by the director of the Maguire Energy institute. Lets go big picture. As far as American Energy goes. American energy undergoing a renaissance right now. The first time in a long time if you look at north dakota, what is going on in texas, we will have the biggest crude oil fields in this nation. We are on track to be Energy Independence from the north american standpoint and in the next decade. Tracy people like me singing hallelujah thank god because this nationalsecurity purposes that we are so reliant. Aside from the geopolitical, this boom. No question there are considerable risks in this scenario. One is over regulation and that is not just that the federal level. There are local restrictions that are being put on this activity, the knot in my backyard syndrome as well as the state level. If you look at what is going on in new york and elsewhere. Not just washington but it is washington as well as usual. Tracy you said one of the biggest risks to our energy boom is the lack of qualified people. What does that mean . No question the industry will hire between 2 to 2. 5 million jobs between now and 2020 and those need to be technically qualified people. These are people that are either engineers, geologists, financial specialists and so forth and right now the industry had trouble hiring those people. People in the United States are hiring overseas, these are not filled right now. Tracy i hope universities are listening. As far as geopolitical issues what worries you the most . If you look at the strait of hormuz, we get two Million Barrels a day through there, we get four Million Barrels a day from opec. That will decline over time but chinas percentage of imports will increase from the middle east but china is playing a huang game. Theyre investing in the horn of africa, offshore cuba, south america and other places and our Economic Cooperation and competition with them is going to increase and they need American Technology and american knowhow to exploit those resources in other places. We will work with them and compete with them. It will be a dynamic relationship over the next couple years. Tracy for the sake of jobs, international security, Energy Independence should be our goal. Bruce bullish with the wire energy institute. Thanks for being with us today. Cheryl casone is going to walk you through the final hour of trading talking dividends and why investors should stick with high yields. Even if the fiscal cliff becomes a big reality on january 1st, luciano with 17 billion in assets, runs through his top plays. Count down to the closing bell is next, the dow was up 43 points. Dont go anywhere. [ male announcer ] this is steve. He loves risk. But whether hes climbing everest, scuba diving the Great Barrier reef with sharks, or jumping ininto the marke he goes with people he trusts, which is why he trades with a company that doesnt 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 has, which isnt rocket science. Its just common sense, from td ameritrade