Dennis i am dennis kneale. Lori i am lori rothman. Flipping ahead of the all important jobs report. Dennis Spring Cleaning at facebook. We are live at the social media giant headquarters has facebook unveils its new look. Lori president obama steps up. The hopes reuniting talks i installed budget deal. Dennis how to break out of the office grind. We have had some well researched tips on how to stay health happe job. Lori time to check in with nicole celebrating a major milestone with 25,000 hits today. Nicole up one third of 1 . All three major averages have hit, record highs for a certain extent, nasdaq and s p multiyear highs, alltime record intraday highs. They felt their lowest level in more than a month in the week, so that is some good news. Productivity and labor cost basically Shows Americans are working long hours, but extremely productive. Take a look at names of the Dow Jones Industrials actually hitting multiyear highs, names including pfizer, johnson johnson, boeing, jpmorgan. The highest levels since before the recession hit, so jpmorgan getting a nice one bounce back. Back to you. Dennis thank you, nicole. Oil prices back above 91 at the highest levels in a month. Phil flynn with the Price Futures Group at the pits of the cme, a big day for natural gas . Phil it is. I was lucky enough to hit the number right on the head. 146. That doesnt happen very often, so i was very lucky. But that was a much smaller withdrawal than expected. Causing a jump in the natural gas prices. Basically because it was a lot colder in certain areas than a lot of people thought especially out east. The other story today, look at oil and the price of gasoline, they are going in different directions, that is really, really good news. That is a sign we will see gasoline prices continue to fall. A lot of that happens to do with the reversal of the brent spread. They should fall at your pump, and that is good news. Back to you. Dennis phil flynn, thank you very much. Oil had been very weak, i dont know what oi why oil wants to r. Why does it keep going down . Phil i think it is a little bit technical. Prices have fallen pretty significantly in a short amount of time. 97 per barrel, concerned about outages and what is happening in europe, now we are back down technically we are down and the market has to balance record supplies with anticipation of demand beginning to pick up in the short term. The refineries are going to start kicking into high gear in a couple of weeks so we are having that balance versus supply. What we expect it will be in a week from now. Dennis thank you very much, phil flynn. Lori more people are working, more demand on gasoline, more good news for the u. S. Job market. Fewer people than expected file for firsttime unexpecte unempl. Pushing down to a fiveyear low. This coming after yesterdays ap report showing the private sector added 188,000 jobs last month, more than expected. That da data let my first guesto say hes more optimistic for tomorrows february unemployment report. Senior u. S. Economist for deutsche bank. Hi, how are you . Lori im doing great. What yowhy do you think we are g modest improvement in job creation . I think the economy, the private sector is gradually accelerating and as was highlighted earlier in the program, productivity as far as it can go and so we have seen this rollover productivity growth which means now it is business to further expand output they cannot lengthen ours anymore. This is a new paradigm for the economy, and it will be a major theme in 2013. Lori so your advice is to drill down on these figures, productivity of business workers fell 1. 9 in the Fourth Quarter of last year instead of 2 decline. It sounds like a modest decline really, but you say this is actually a rollover . What else gives you that indication . The broader trend shows a huge collapse, and a lot of the viewers are thinking productivity has collapsed, that is bad for the economy and over the long run, yes, that is true, but this is a cyclical development, so he could see more hiring Going Forward. It sounds like a bad thing, but actually at this Party Economic cycle, does just what the doctor ordered. Lori now working your analysis of the adp private sector better than expected. Moving the average dust levels in a couple of years so what does this portend for tomorrow . Will it be a highlight generator . Absolutely. Looking at the report card, i will give it a b at this point. The adp report looks solid, both the Service Sector and manufacturing look decent, jobs plentiful in the consumer confidence, so a number of labor theories are telling us the labor market is holding up. The threemonth average on payroll about 200,000 per month so were looking for 180,000 tomorrow, that is a little bit below that average for the reason for that is we think that blizzard that impacted the northeast at the beginning of the survey may have depressed the numbers slightly. Lori the dow in record territory right now, more signs of an improving economic picture. Theres a school of thought that things are better economy may actually be a risk to the stock market if you believe the main reason stocks are rallying is the Federal Reserve and monetary policy. What are you thinking on that front . The fed is only part of the story. It is not purely driven by the fed. Yes, they are playing an important role, but the prospect of the Unemployment Rate declining further, meaningful Income Growth beyond what taxes have eaten up and inflation has eaten up, this means there is a very lasting and durable Economic Cycle in place that has significantly further room to run and that is really what the stocks are replacing. There is a very real improvement in the economy from consumers to the housing sector, business investment, i think that is what stocks are focusing on. Lori everybody has to love your optimistic outlook. Carl, we will check back in with you. Thanks as always. Dennis that was good to hear. One of the people who have said it is not all fed. Lori a lot of people are not celebrating the rally because unemployment is so high. Dennis a lot of individual investors missed out on this rally, but i if they have room o go. Is a deadline near . President Obama Meeting with congressman from both sides of the aisle. Peter. Peter the president continuing this Charm Offensive. Hes having lunch with congressman paul ryan who will be announcing the House Republican budget in the next few days expect it to be very tight trying to get the balance without any tax increases, also joining him as the top democrat, this meeting coming up to the president met with 12 republican senators last night for dinner to talk about the budget and other issues. There could be a window of opportunity here perhaps maybe for the two sides to try to get back to the table to hammer out a grand bargain on the budget to get more deficitreduction in place here, and lets take a listen to one of the senators at that dinner last night. I dont think were going to have a grand bargain over the next month or weeks, but the purpose was to lay the foundation over the next four or five months. The number one issue on the fiscal issues still unaddressed and hopefully this will lay the foundation for Real Solutions so we can put it in the rearview mirror. One other senator from nebraska said in a statement afterwards as an avid golfer, the president was one of the most important parts of the swing is the followthrough. The same holds true here as well. Dennis, back to you. Dennis thank you, peter barnes. And coming up later this hour, we have lou dobbs joining us with his take on president obamas meetings for the budget. And we will talk time warner. No timeout at time warner after years of indecision spinning off the magazine business at the heart of the media titan in epic takeover battle two long decades ago. Things like people, times, sports illustrated. It is a bitter day for what was once the Worlds Largest media company. Time warner struggled for decades to right itself in the acquisition of America Online at the height of the dotcom bubble, it sold off warner music, Cable Systems, that stock 200 since then it got rid of a well, the lesalittle less successful, nowo big questions. Profits less than half of what they were premeltdown. Some say it may even become an attractive takeover target for amazon, apple or even netflix because nowadays pure content. Lori time magazine. They are american icons. Dennis very sad. Lori a new man behind the wheel at navistar as it chooses a new ceo. Carl icahn even approved. Dennis should banks and investors fear the stress test . Weighing in on what we should expect from the fed is latest report. Lori oil up better on Economic News. Gold is trading a little bit lower. Silver a similar story. But copper is holding out today. We are back after this. Suddenly, she does something unexpected and you see the woman you fell in love with. Shes everything to you. 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Dennis facebook is unveiling its new look with Mark Zuckerberg just left the stage of describing the latest newsfeed look at mobile inspired with richer content featuring larger and more prominent pictures. Im looking to see if he wore a hoodie or not. I cannot tell. Lori how do you feel about the change . Dennis he did wear a hoodie. Anytime you change it, you are messing with it. Microsoft got clobbered for that. Lori i was reading on one of my science links, 1867, this day Alexander Graham bell won a patent for the first telephone. What if we had never changed from that technology, look at how far we have come. Lets be flexible and give it a shot. Dennis nice note. One of the reasons she is now done 25,000 hits or so on the floor of the New York Stock Exchange, lets check the market with Nicole Petallides. Nicole we have covered the rise, the fall, and now the alltime highs we are seeing today. A lot of movers including a couple we will take a look at right now looking at navistar and hot topic. Navistar actually brought in an interim ceo since august and the recent ceo was fired, and today naming the real deal chief executive officer, troy clarke, former General Motors executive and he will be taking over this company. Which came out with some numbers that has improved since the interim ceo took over. Also, hot topic, jumping and being taken private. A 30 premium from yesterdays close and still surprised to see the stock up 29 in the change. There is a look at hot topic obviously jumping on this big news. Lori dennis is doing math on how many hits you have done, more than any of us put together. Congratulations again. It is time to make money with charles payne. He is talking professional pay force. Charles you guys had us earlier talking about the adp report and we have the big one tomorrow. This is a staffing play, but a specialty. Looking at for the most part they do technology jobs, financial jobs, and the business is really starting to turn really nicely coming up with earnings all the margins went higher. Interestingly enough Technology Tip a little bit but the market was higher. They are extraordinarily confident but remember this is the sweet spot in jobs, they are highpaying talk about the jobs all the time, science, technology, engineering and math. There are lots of cheese. Dennis are they placing permanent longtime hiring . Charles they do both. The better thing is the margins are starting to lighten up here little bit, getting a little bit better. There is demand coming on. This is one of these names on the cusp of a major breakout. Look at what the job numbers because those jobs where they get paid a lot of money. Ironically enough they are government jobs, the margins on them when from 34 to 29 . I guess they like people in the federal jobs as well. Lori we shall see what the Stock Performance sets about tomorrow. Charles absolutely. Lori good to see you. Dennis more talk, but where is the action . President obamas new push to reach across party lines. Lori lou dobbs on if it will work. Aw this is tragic man, investors just like you could lose tens of thousands of dollars on their 401 k to hidden fees. Thankfully etrade has low cost investments and no hidden fees. But, you know, if youre still bent on blowing this fat stack of cash, theres a couple of ways you could do it. Or just go to etrade and save it. Boom. You are gonna need a wingman. Anmy cash back keeps the party going. But my Airline Miles take it worldwide. [ male announcer ] it shouldnt be this hard. With creditcards. Com, its easy to search hundreds of cards and apply online. Creditcards. Com. 22 minutes past the hour, this is your fox news minute. U. S. Officials have captured usama bin ladens soninlaw in jordan and brought him to new york. Peter king i they captured significant victory for the u. S. Against al qaeda. He was a spokesman for al qaeda and a part of the 9 11 plot against america. Susan rice says north korea will achieve nothing. Following to launch a Nuclear Attack against the u. S. Hours before the u. N. Security Council Voted unanimously to oppose sanctions against north korea. And the last of the 115 cardinal electors that will vote for the next pontiff. After four days of meetings they have not set a date for the conclave to elect a new pope. Those are your headlines, back now to lori and dennis. Lori thank you so much, we appreciate the update. According to members of congress, the president sitting down to lunch with the top leaders, republicans paul ryan and others. Scheduling meetings with House Republicans on wednesday, this after the president posted a dozen senators for a dinner at an exclusive d. C. Restaurant last night and from what i understand picked up the tab. All this in hopes of reuniting talks i brought a budget deal. Will it work . Time now for their jobs. Great to see you. This is a good extension, he is reaching out, taking some advice from his staff. Lou any departure from what he has been doing since he was reelected would be a positive thing and i think that is the case here. His dinner last night with a dozen senators, he picked up the tab. What it will lead to, i dont know. I get nervous when i start hearing this baloney start from background sources at the white house or from the various staff to the senators saying we are looking for a big deal here. The president wants a grand bargain here. When you hear that, everyone who hears it should be worried because this president is not a sudden spiritual convert, this man is trying to drive home two things simultaneously. Ideology meaning higher taxes, minimum change in entitlement and secondly a strategy driving the 2014th congressional elections. And anything other than that, if those 12 senators are not skeptical, if they dont start driving the congress in a direction strategically, they will have a helluva time come november 2014. Dennis this rather rare outreach for the president to senate republicans, he didnt go to the main negotiating republicans, he went elsewhere, if it tried to come together or is he trying to divide republicans and get people to abandon the leadership of the Republican Party . Lou as far as we know he did not seek John Boehners permission. As he sits down watching i am sure our broadcast here, he did not seek permission for that dinner last night. Graciously saying he doesnt find one way or the other and encourages him to do more of it. Probably will take him at his word, but if republicans dont start in the field of politics we have karl rove basically hawking their wares of a bush candidacy at the time there should be a little toned down on the political rhetoric particularly fine for attention as the leaders of the Republican Party. If they dont understand, recognize and react to the fact that Chuck Connell and john boehner are the leader of the party right now, there will be a division and great problems, bigger problems. Lori lets bring brenda paulin, does he help reenergize even though this is a separate discussion outside of the budget . Dennis to the degree he energized those republicans and democrats concerned about civil rights in this country. Civil rights is a republican issue. It is a great issue for this senator, i dont know if he has president ial aspirations, but for rand paul to stand up and do what he did in the senate was great stuff. It was not simple political theater, and was theater with a purpose and for that i commend him greatly. Lori yesterday we were talking about the scheduled interview with rand paul, what happened with that . Lou he had said he was scheduled to be with us, anyway right after he got through speaking and we tentatively scheduled it around a window of 6 15. He said he would talk until he couldnt talk anymore. Who knew he could talk for 12 hours. I actually thought he might go around 3 00, 4 00 in the afternoon. Senators are a whole different feel. Of course the house doesnt have the opportunity to filibuster. I thought he was terrific, great the way marco rubio, all of the other stuck in to help him along for questions and giving them an opportunity not to wear a catheter. He considered that over 12 hours you understand the doctors good thinking. Lori thank you for sharing that with us. So of course you can see lou dobbs with us everyday and each night, tonight talk about taxes, the economy and the attempt to reach out to republicans. Dennis and you cant take your eyes off of the dow after closing all time high the past two days. We are back at the nyse next. Lori u. S. Regulators reason most indepth analysis now on boeing troubled dreamliner. The latest ahead. Dennis plus, putting thanks to the test. Look at financials ahead of the fed latest stress test results. [ indistinct shouting ] [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Dennis time for stocks now. Lets head to the floor of the New York Stock Exchange where our own Nicole Petallides, the ironman of correspondents, nicole. Thank you. Youre a superhero yourself. We have past the boot of jpmorgan, and citigroup. On a day were setting new records obviously with the Dow Jones Industrials. The nasdaq and s p 500 also hitting intraday multiyear highs, not alltime highs like on the dow. Some of the best performers include jpmorgan, bank of america as well as boeing which weve seen at 81. 05. Obviously big news there as well. On a day where the bulls still have the ball. Back to you. Thanks very much, nicole. Lori the National Transportation safety board issuing a new report on its investigation into battery fires aboard boeing 787 dreamliners. Rich edson in washington with details. Rich. The inquiry drags on. The National Transportation safety board said two months after it began its investigation officials are searching for a the cause of a battery fire over a 787 in boston. They were investigating how the battery was certified in the first place as well. Ntsb investigation into the probable cause of the 787 battery fire at logan is continuing. The nstb is also continuing to review the design, certification and manufacturing process for the 787 lithiumion battery system. Boeings response . The release of the has Transportation Safety board interim report is a positive step towards completing the investigation of the january event in boston. We worked tirelessly with the help of the n. Tsb to help understand the event and will continue to do so. They are proposing battery fixes and test flights. Yesterday the wall street journal reported that transportation secretary ray lahood made it very clear he wants a very thorough review and he will can a lot of questions before making a final decision whether to allow the planes back up in the air. The process continues. Lori no closer to what happened . Right. Or when they will get back in the air, yeah. Lori unream. Rich, thanks as always. Dennis the fed is set to release the results of its latest stress tests on the banks. My next guest says, be not afraid. We have todd from stern ag who joins me. What will happen at 4 30 and when do we find out all the results . This is basically a twostep process this year which is a very different process from years past and continues to evolve. Were getting fed model under a stress scenario if you will for all 18 of the banks. Basically it is one stress scenario. How do the banks stack up against each other under a number of various financial metrics. It is precursor to the big day a week from now when well really find out what are the Capital Distributions going to be, what are the dividend distributions going to be. Tonight is the precursor, whet investors appetite so to speak. Dennis lets zoom in on the weakest player that might be citi. What are you looking at for citi from the test results . Were positive on citi, bank of america for that matter, i think were finally at a point with improving credit quality, improving profitability. These companies are in the position to start returning capital to shareholders. We believe that citigroup in particular will get announce both a Share Buyback as well as Dividend Increase which will be very encouraging, very positive news for investors. Dennis would make us think theyre no longer having a neardeath experience at citi. Where do we stand . 19 biggest banks took tarp. Paid back every dollar plus interest, are they allowed to raise Dividend Payments and do buybacks as they wanted or do they have to first go hat in hand to get permission from the oversears at the fed who have never been bankers . The process is driven by the fed. It is completely different world today than it was a couple years ago. Every single year the fed is going to have to sign off on what the proposed distributions are going to be. Whether thats dividends. Whether thats capital. This is now an annual program. What were seeing tonight in fact is a function or derivative of the doddfrank act. Dennis right. Now you have two components. You have the doddfrank, plus you have the feds program. Dennis todd, doesnt this bother you in any way . Jpmorgan chaae might be one of the strongest banks in the entire world, okay . Even after they lost a couple billion on the whale trader. And yet they have got to go ask permission from the fed on what they do in paying back money that belongs to shareholders . There is something with that . There is something wrong with that. And in fact my belief is three to four years from now you will see a very different process, meaning a process where were not going through this annual, you know, gymnastics in terms of can you do it, can you not do it . Its very, its a very onerous process as it relates to both the banks and it really keeps investors quite skiddish in terms of how do i invest in these things . When im not going to know year to year where these things are going to stand in terms of distribution, you know, my dividend and so forth. Dennis okay. Two last really quick questions. First, these stress tests if they had been applied in 06, 07, would they have prevented the big meltdown . Would they have spotted weaknesses. No. Dennis then why are we doing it . Which of these banks if you had to guess has a Downside Risk here, could come up with a disappointing report that could send shares down, what would it be . The one bank i believe investors are very split and divided on right now is bank of america. Dennis ah. Bank of america, as you know, has been struggling for a number of years. They failed the test a couple years ago. They have yet to kind of return meaningful level of capital to shareholders. Very token dividend right now. Theyre the ones i believe are. Dennis that is pressure point. Nice job. Thanks for bird doing that for us. Todd hagerman. Appreciate it. Thank you. Lori we have breaking news here for you. We are getting more details on facebooks brand new news feed. A the limited roleout will begin today. Nothing yet on the website. Well have a full report just about ten minutes from now with our own robert gray. He joins us live from the event. Charlie gasparino is here next as the dark pool volume grows. Dennis take a look at ten year and 30year treasurys. The American Dream is of a better future, a confident retirement. Those dreams have taken a beating lately. But no way were going to let them die. Ameriprise advisors can help keep your dreams alive like they helped millions of others. By listening. Planning. Working one on one. Thats what Ameriprise Financial does. And thats what they can do with you. Thats how ameriprise puts more within reach. Thats how ameriprise puts more wi hin reach. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. But that doesnt mean i dont want to makeoney. Vestor. I love making money. I try to be smart with my investments. I also try to keep my costs down. Whats your plan . Ishares. Low cost and tax efficient. Find out why nine out of ten large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Im Cheryl Casone with your fox business brief. It is another bullish day on wall street with the blue chips it haddings an intraday high for the Third Straight session as jobless claims fell to a sixweek low. Right now the dow is up by 35 points, 14,331. The average rate on a 30year mortgage ticking higher but still remains near its record low. According to freddie mac, 3. 25 . The rate fell to an alltime low at 3. 31 back in november last year. Household wealth hitting a prerecession peak at the end of 2012 a hopeful sign for consumer spending. Household wealth topped 66 trillion in the Fourth Quarter, its highest level since the Fourth Quarter of 2007. Meanwhile Household Debt grew at its fastest pace since early 2008. That is the latest from the Fox Business Network, giving you the power to prosper. Lori its official. The dreaded and evil dark pools are now beating the New York Stock Exchange in the war over Trading Volume. Charlie gasparino has exclusive details. Pretty interesting story. Kind of stumbled upon it. Dark pools as you know are those off exchange exchanges. Theyre run by big investment banks where they take Trading Volume and match buyers and sellers. They pull a lot of stuff, a lot of Trading Volume from the major exchanges. The controversy, none of this stuff is disclosed. It is done in hiding. When did this occur the last five years after rule nms you basically can have an exchange anywhere. I can create an exchange on my desk at fox business. That is essentially what is going on. Three big changes, Goldman Sachs, barclays runs it, Credit Suisse runs one and goldman runs one. This is latest data coming from the people at New York Stock Exchange. Theyre saying the big board is now trailing all the dark bools in terms of average daily volume. That occurred in january. January 900 million, 900 million shares have were traded on an average daily basis at the New York Stock Exchange. The 19 dark pools that are out there, including three big ones i mentioned, 920. When i asked the people at the exchange is this the first time, they believe this is the first time that combined the dark pools have beat the New York Stock Exchange. What does this mean . Well, for average investors out there i can tell you this. If, if trading is occurring in this capacity off exchanges, if its done in this lack of transparent way, because remember, Goldman Sachs is not publishing its prices of apple or whatever is being done over there. Neither is Credit Suisse. Neither is barclay, there is issue here on market structure. What is the value, what is the real price of apple . Are you paying too much because it is over at the New York Stock Exchange . Because it is less liquid than these other exchanges . Big issue. It is unclear if regulators will take it up. I will tell you this, one of the first times Duncan Niederauer ho runs the New York Stock Exchange and bob greifeld runs nasdaq teamed up together and got along over something, theyre bitter enemies over listings has been over dark pools where they saw Mary Schapiro the former sec chairwoman. Now likely to be Mary Jo White the, the new chairwoman. It is unclear how white will deal with the dark pool structure issue. I will tell you this. Duncan niederauer is planning some sort of major, sort of offensive, some sort of, he is basically looking at trying to figure out what to do next. They are planning another legislative attack, probably go to congress, go to the sec, go to the above to push this agenda. I will say this, guys, we could sit here to talk about Insider Trading all you want, talk about regulatory issues, whether jpmorgan should pay money, whether congress should investigate jpmorgan over the london whale trade one. Oldest stories in the world, that does not affect really small investors like this. Every day, someone buys a stock, they sell a stock. There should be some integrity in that trade. It is when you have five different exchanges and theyre not disclosed and these other exchanges, these dark pools are playing on a different regulatory playing field. Theyre not really regulated by the sec there is not much disclosure, well then what is the price of a stock . Dennis when im a institution manager and i want to sell a million shares of ibm but dont want to sell it on the New York Stock Exchange because the price will plummet. Everyone knows. I go to the dark pool. When the dark pool places sale of million shares is it doing entirely outside. Nicecy or sends the trades into the nyse anyway . It depends. It depends whether they advantage tank justly match the buyer and seller. Generally they do it themselves. There has been one money manager i know that was a board member of the, this, one prominent one, that was prominent board member of the New York Stock Exchange during the grasso years. His name was larry fincke. He runs Largest Money Management Firm blackrock. If anyone wants cheap trading, electronic trading wants to run a Money Management firm. Doesnt want to go through the alleged specialist and human beings which are allegedly slower and leave you guys skimming a fraction of a penny here and there matching buyers and sellers of stock. Larry fink was an advocate of the New York Stock Exchange because he worried more about goldman operating a dark pool and matching buyers and sellers themselves and not knowing what is going on than he did about the New York Stock Exchange. Dennis they have the new york city prices to compare. Not will pay 30 more than the published price apple is trading at. What if youre paying more over here and less over here . No one knows the problem. Lori that is the problem. That is the problem. Listen remember why they set up, this is reflective of rule nms. Why did they do that . To have competing exchanges, competition creating the best market. The problem is, im a free market capitalist. It aint happening here. It aint happening. Dennis we have to split unfortunately. Great discussion. Lets pick it up very soon, charlie. All right. Lori time for stocks now. Dennis lets check the markets. Nicole petallides on the floor of the New York Stock Exchange. Crazy day for gap. Thats right, dennis and lori, we were at the post earlier today when gap shares were actually halted shortly before 11 00 a. M. And that was because the samestore Sales Numbers which were due to be released after the bell, were released early and leaked on the internet. This is the first time the gap was going to try to release after the bell and it didnt do so successfully. That being said lets look at the shares right now, up 3 1 2 . That is because their samestore sales for the month of february came in up 3 , better than estimates of up 2 . When you break undo the gap, they have the gap, old navy and Banana Republic. Old navy where they really saw the strength of samestore sales there jumping 6 . The gap did well, but Banana Republic was the weak link. Back to you. Dennis thank you very much, nicole. Lori so facebook fending off chatter of user fatigue with the latest version of the news feed. Were live at facebook headquarters for the big unveiling next. Dennis plus how to break out of the office grind. We have some, shall we say wellresearched tips how to stay happy on the job. Dennis facebook giving itself a facelift, announces some changes to its news feed feature. Robert gray is live from the companys headquarters in menlo park, california with the details. Robert sft. Yeah, dennis, thats right. This is just ending right now. Mark zuckerberg leading several executives on stage with the trademark gray hoodie talking about making a personalized newspaper. This is some of the most valuable real estate if you will in cyberspace, the news feed portion where most people spend majority of their time on facebook, giving it the overhaul you talked about. Hasnt dranked drastically in 2006 when it first appeared. Was given a slight tweak back in september 2011. Widely expected there will be news feeds that will be individualized by different content. Basically you have photos which make up about half of all activity on the niece feed doubling since 2011. Follows up to 30 as well. Those would be pages you follow. Robert gray channel for fox business. Music will have its own channel in there. It is a streamlined picture. We have video showing some of that of the a lot less clutter. Tool bars are on the side to get you to different pages and around. It will be much more consistent, dennis. The mobile will look like the desktop. I asked Mark Zuckerberg in the q a whether or not there would be more advertising and inventory available. He sort of dodged the question a little bit, perhaps overtime. He left the door open for that. Dennis that was a good question. No wonder he dodged it. Thank you so much, robert gray. Youre welcome. Lori well does your workday have you down, lowering your stress . Well it is all in a days work. Number one, these are the wellresearched tips. Get up and move. Bad office chair posture can make you more stress and uncomfortable. Every hour take a quick walk if you have time. Speed walk around the newsroom. And stop, put the blackberry down. Not sleeping next to your work phone, may find youre more wellrested the next morning. That is a tough one. I dont know. Perhaps maybe the most important, go to happy hour with your coworkers. Ah yes, of course. Having good relationships with colleagues has been linked to a longer life. We all need to unwind once in a while. Dennis apparently so is getting hammered been linked to a long life. All right, the folks at the fed could use a happy hour. The feds newest stress test results hours away. Former minnesota governor tim pawlenty weighs in what to expect. That is next with tracy byrnes and ashley webster. Dont miss it. With the spark cash card from capital one. Boris earns unlimited rewards for his Small Business. Can i get the smith contract, ease . Thank you. Thats three new paper shredders. [ boris ] put em on my spark card. [ garth ] boris Small Business earns 2 cash back on every pchase every day. Great businesses deserve unlimited rewards. Read back the chickens testimony, please. Buk, buk, bukka [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose 2 cash back or double miles on every purchase every day. Told you id get half. Whats in your walle ashley good afternoon, everybody, im ashley webster. Tracy im tracy byrnes. How high will it go . The dow smashing through another record, rising, were up 36 points right now, 14,332. So what if anything is going to stop this rally . Ashley boeing adding 14. 5 points to the dow, so doing some heavy lifting itself. One week in the sequester, Virginia GovernorBob Mcdonnell said the spending cuts are costing his state billions of dollars and tens of thousands of jobs. He will tell you how virginia is coping straight ahead. Tracy pipelines clearing a major government hurdle. Weeks ahead are critical to deciding its fate. Transcanada ceo says he is still confident the Obama White House will approve keystone. He is our special guest coming up. Ashley first, top of the hour. Time for stocks now. Lets go to Nicole Petallides on the floor of the news zai. You know how often we do it. Every 15 minutes. Nicole. We dont want to miss any Market Action on the Fox Business Network. The dow jones is up 36 points. That is the gain of 1 4 of 1 . Nasdaq and s p each gaining. 1 of 1 or thereabouts. Both the nasdaq and s p are actually hitting multiyear highs. The Dow Jones Industrials are hitting alltime high today. The vix, the fear index, is taking a breather. The dow is up five days in the a row. The dollar is pulling back and oil and gold are higher and oil services has an up arrow. Transports are pulling back some. All the dow theorists who have seen transports hitting record highs without all the other indices hit it, they have come together and hit those highs. There is a great look at our bar charts that show you how we have surpassed our highs we established back in 2007. And our market lows and here we are now, where we are again. This is the action were seeing. The volume is at 356 million shares. Boeing is a stellar performer on the dow. Back to you. Ashley certainly is, accounting for half of todays gains. Nicole, thanks so much. Tracy okay, so stocks getting a boost from word that fewer americans signed up for unemployment last week. Jobless claims fell 7,000 to seasonally adjusted 340,000. That is the second straight weekly decline. It puts the fourweek moving average at the lowest point since two thoin nine. Eight, excuse me,. Also the Commerce Department reported that the u. S. Trade gap with the rest of the world grew to more than 44 billion. That is jump of 16 1 2 from december. Tomorrows numbers will be interesting, right . Ashley very interesting pointing to perhaps some encouraging news. Well wait and see. Either way, right . Good number market goes up. Bad number market goes up because the Printing Press is printing. Ashley qe is in place. So either way. Tracy i think it could be a winwin. Ashley hopefully youre right. With the dow continuing to set new highs is it too late to buy into the rally . Maybe not. My next guest doesnt think so. She says investors should average in now rather than waiting for a correction and buying on the dip. Joining me, margie patel, senior Portfolio Manager with wells fargo with nearly 1 1 2 billion dollars under management. Thank you for joining us. If the Economic News to tracys point is bad we know the fed will keep on printing. Either way you look at it the markets continue to move higher. Yes, thats right. I think thats wellput. I think the economy has momentum on itself and bernanke has made it very clear if for some reason theres a bump in the road concerning a financeal crisis here, in europe, Something Like that theyre prepared to keep pumping out of the liquidity. Any correction i think will be mild and fleeting and will provide the oldfashioned opportunity to jump in and really load the boat. Ashley you say you should, investors should average in. Explain that. And, you know, what particular sectors should you average in that you like . Yes. Well, i think averaging in really, if you just said over the next few months ill put a third, a third, a third whatever money i like to commit to the market. I think the sectors that are going to do well are those that have clear paths for growth. That could would be companies in the energy place relating to the shale gas revolution. I think they have many years of growth ahead of them. I think health care looks very, very good inspite of the health care law. Big pharma can save a lot of money. Theyre on a new Drug Discovery cycle. There is lot of m a activity that says there are a lot of takeovers that could be profitable. Industrial companies, Capital Expenditures are moving up here and also in the developing markets. I think that will be a good sector too. Ashley one sector that is really underperformed is tech. So far but do you think it will catch up and do you like the tech sector . Im personally underweight tech because i think a lot of the traditional growth areas really arent going to be, have the kind of growth that we think because we have a lot of transition, move to the cloud and so forth. I think it is going to leave a lot of companies well behind on the kind of growth you would expect. I think theyre more like industrial cyclicals and weaker links i think will be very disappointing. Ashley you know i should say the volumes have been a little mediocre which perhaps suggests a little bit of a lack of conviction. All the talk about the great rotation out of bonds into equities, there hasnt been a tremendous outflow fromm3 treasurys. There is still a lot of money hanging out there, isnt there . Yes there is. And i think we see, for individuals, they are having much higher cash equivalent balances than you might think compared to history. And it really mirrors what you see for u. S. Corporations. They also have a lot more cash on the books. I think it reflects the uncertainty that people have after the kind of volatility weve had over the last few years. So i think when we start to see money come into the equity market it will be out of those Cash Equivalents rather than bond funds. That is side there are a lot more legs to the market than weve seen so far this year. Ashley it comes down to earnings. Companies are lean. Their Profit Margins are pretty good and overall pretty healthy. Could those earnings and that healthy situation continue, margie . Yes, i think it can. I think well see Companies Maintain those historically high Profit Margins because they change the way they operate to be much more flexible, much more global in their businesses and also the cash flow just from existing assets is so high. He have they the power to increase their dividends, very substantially from current levels. Ashley very good indeed. Margie patel as always. Thank you for joining us. Appreciate it. Thanks. Tracy all right. They had a very public battle over the federal budget including during the president ial campaign and now president obama and former republican vp candidate paul ryan are actually meeting facetoface over lunch. Duck. Ashley no throwing. Tracy senior washington correspondent peter barnes is live from the white house with the details. Peter, ashley definitely thought there would be a food fight. [laughter]. Well were, i dont know if we get a readout on the lunch as they say, but, you know, yes. Animal house . Who noise. Knows. This lunch is expected to be wrapping up shortly. Paul ryan is the chairman of the House Budget Committee, the republican chairman. He is about to announce the House Republican budget in the next few days which is expected to be very lean, to try to get to a balance budget with no tax increases. Paul ryan also joined by the top democrat on the House Budget CommitteeChris Van Hollen for this lunch and this continues, follows this meeting last night, extraordinary dinner the president had with 12 republican senators as part of his continuing Charm Offensive or outreach to republicans post the sequester, whatever you want to call it and the, some of the senators and the white house saying there might be a new opportunity, a window of opportunity to get some kind of a grand bargain to work toward that for tax reform and enlightment reform. The white house is saying there is still Common Ground they can work on. Take a listen. The idea wasnt we were going to negotiate a deal last night that was never part of the plan and that isnt going to happen over one dinner but i think it was a constructive exchange. He believes when he hears Top Republicans say that theyre interested in finding that Common Ground, that they believe its possible to marry entitlement reforms that produce savings with tax reforms that produce savings and achieve that deficit reduction, he wants to have that conversation. Thats what he is doing. The president will continue all this next week when he heads up to capitol hill for meeting not just with house and Senate Democrats but also with house and senate republicans. Ashley . Ashley all sound so good, doesnt it, peter. The Charm Offensive, well see if it produces any results but it sound good. Peter barnes, thank you so much. Thank you. Ashley so much more ahead this hour. Virginia bracing for a multibilliondollar hit from Government Spending cuts. Governor Bob Mcdonnell is our special guest ahead. Tracy opponents of the Keystone Pipeline extension are ramping up for their last chance to kill it. Ceo russ girling is saying he is not worried and he joins us coming up. First a look how oil is trading, speaking of pipelines, up about a dollar. 91. 41 a barrel. Well be right back. [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. And that their Homeowners Insurance protects them. [ thunder crashes ] it doesnt. Stop pretending. Only Flood Insurance covers floods. Visit floodsmart. Gov pretend to learn your risk [ cows moo ] [ sizzling ] more rain. [ thunder rumbles ] [ male announcer ] when the world moves. Futures move first. Learn futures from experienced pros with dedicated chats and daily live webinars. And trade with papermoney to testdrive the market. All on thinkorswim. From td ameritrade. Ashley print the money. Time to make green backs with charles payne. Following up on gap. They had quite the morning with shares surging on good news, charles. Talked about gap a couple weeks ago. Before that, got to tell you guys, had to bite the bullet on pet smarts, you did . Isnt that crazy. We know how many peach love the dogs. They had a great number but the guidance was absolutely atrocious. Listen, a year from now, two years from now, the stock i am 1,000 confident. Ashley people still spend billions on the pets. Right now i dont think it will come back anytime soon. I rather jettison it out and take a hit and move on something shorter term. For long term 401 k i would not sell it. Another stock i wouldnt sell is gap we talked about. They came out with february sales. Guys, these guys are really firing on all cylinders. I think theyre actually back. I was surprised Banana Republic was down samestore sales. That was interesting. Tracy this has to be old navy. Old navy is one rocking. Old navy is really rocking. Tracy dumfounded with this hit. Fat joes. Exactly. Tracy ashley spends more money on his dog than anybody i know. I know lots of dog lovers. The gap. You cant walk in the gap. There is just nothing there. You havent been there in a long time. Ashley right across the street. Might have improved. Ashley it is. Tracy should give ited Old College Try . Went in and bought two pair of jeans couple months ago. Got a little better. My son wouldnt buy jeans. Tracy thats what im saying. Still Old School Place to go but at least it is coming back. I love the way it is acting. Will think it goes north of 40. Thanks very much. Tracy fat joe need his medicine. Always. Tracy quarter past the hour. Time to check on Nicole Petallides on the floor of the stock exchange. Hey, nicole. Hey, tracy and ashley. Were taking a look at the market which continue its bullish run. Talking to traders this morning i asked them, what do you think about the market . The dow is up four days in a row and helped along by boeing but their momentum player said, you got to stay with it. You cant short it. Boeing is up 2. 25 right now. Hitting new annual highs for boeing. Despite the fact that the ntsb into an investigation into the battery fire they still havent come to a conclusion pertaining to that. That is nice one much year chart. You see the stock at 88 80. 87 a share. Tracy Nicole Petallides, we have to congratulate you, you celebrated that the 25,000 hit milestone. Were trying to calculate here. I said earlier i dont think i took 25,000 breaths. I dont know. It is a group effort. It is a crazy group effort since we launched this Fox Business Network in 2007. We all worked really hard. It is really exciting. 25,000, and great number and gave me this beautiful badge. It has my name on it. Ashley thats cool. I dont know. I will try to go for another set of hits. Tracy 25,000 cups of coffee. I am going to do that one. Appreciate it, very much. Thank you. Ashley welldone, nicole. Tracy that will be my little guinness book of world records. Ashley the new york pet at that lead december exchange has been renamed. Tracy should be. Latest stress test due out in couple hours. Financial Services Roundtable ceo and former minnesota governor tim pawlenty will tell us what to expect next. Tracy plus, is all the snow in the midwest finally putting a stop to the record drought . The u. S. Got snow. East coast did not. At least d. C. And new york. Look at jeff flock live in illinois on a farm with a preview. Jeff . Stuck in a snowbank and loving it. Why . Well the farmers love it. I will explain, the giant sucking sound you hear in the ag room at the cme when we come back. She knows you like no one else. And you wouldnt have it any other way. But your erectile dysfunction you know, that could be a question of blood flowow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. 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And my cash back keeps the party going. But my Airline Miles take it worldwide. [ male announcer ] shouldnt be this hard. With creditcards. Com, its easy to search hundreds of cards and apply online. Creditcards. Com. At 20 minutes past the hour im Patti Ann Browne with your fox news minute. U. S. Am ambassador to the United Nations susan rice says north koreas attack threats will achieve nothing. North korea vowed to launch a Nuclear Attack against the u. S. Just hours before the u. N. Security Council Voted unanimously to impose additional sanctions on north korea for its nuclear test last month. U. S. Officials have captured usama bin ladens soninlaw in jordan and brought him to new york. Republican congressman peter king is calling the capture a significant victory for the u. S. Against al qaeda. King says he was a spokesman for bin laden and al qaeda and part of the 9 11 plot against america. A cardinal from vietnam has arrived at rome. He is the last of the 115 cardinal electors who will vote for the next pontiff. After four days of meetings, cardinals have still not set a date for the conclave to elect the new pope. Those are the headlines. Im Patti Ann Browne. Back to tracy. Tracy patti ann, thank you very much. Thanks. Tracy the Federal Reserve is releasing the first round of its latest Bank Stress Test results in two hours. Joining us with his outlook on the tests and what they mean for big banks, former minnesota governor tim pawlenty, ceo and president of the financial Services Roundtable. Governor, thanks for taking the time to be with us. Well get the tests in two parts now. Part one today is basically, can they survive an economic downturn . Part two we get in a week determines whether or not they can issue a dividend and buybacks. Today is an important test though, isnt it . It is an important test. While we dont know the results or the answer, we can maybe surmise given increasing strength and health from the banks weve seen from other measurements the results will be direction alley more positive than they have in the past. You made a distinction between the stress tests today that will be announced and approval of not of the banks Capital Distribution plans announced next week. The two things are related and connected but two Different Things an important to keep them in that frame. Tracy there is a lot of criticism you can society the parameters any way you want to have people pass them. Last time of the 19 banks, four failed. Citi, suntrust, allied and metlife. What are you expecting to hear this time . Are you expecting everyone to kind of pass and system be happy again . Well, keep in mind sometimes people confuse failure of the stress test with the capital plans or distribution plans being rejected. So, for example, last time there was at least one institution, maybe more that actually passed the stress tests per se, but had their Capital Distribution plan rejected and they were dubbed by the media having failed the stress test. Keeping those two things somewhat separate but i do anticipate better result this is time because banks have alltime high according to the fdic equity levels and capital levels. There has an about significant improvements in the health and stress of banks as measured by other third parties. I hope and believe the results will be directionally positive. Tracy banks like citi and bank of america could use a positive result, right . They are arguably undervalued. It could be off to the races for the Financial Sector as a whole, which many argue how goes the financials goes the rest of the market and maybe we can put this recession talk behind us . It would be a nice development. Of course the industry has been through a great deal of tumult over the last three to five years. Obviously there were a lot of bad decisions and judgements leading up to that. It will be good for the economy and good for the country if we have stable and healthy Financial Institutions including these banks. By the way they can reearn their reputation by reearning trust. You dont it by talking about it. You have to go earn. I think well see that in the coming months and years. Tracy as ceo of the roundtable, what would you like to see out of the Financial Services sector Going Forward . Just an appreciation. I jokingly like to say to people if you dont need a checkbook or savings account or a loan or a mortgage or a Small Business capitalization program, or Life Insurance or Car Insurance or an annuity or a 401 k and the like, then our industry isnt very important. If you need any one of those things, by the way every american needs one of them almost every day. Tracy yes we do. That is an important industry. We want it to be healthy and trusted. Our goal is to get it back on track and we think it is. Tracy governor, we certainly need the big banks. Thank you, sir. Thank you. Ashley the hot dry summer empty midwest sent grain prices soaring but the prolonged winter may help cool the prices down. Our very own jeff flock on a farm life in mchenry, illinois, with the latest. Jeff . It is the snow, ashley. It is about to snow right now and it translates into moisture which is taking money out of the grain market. I want to go to the maps. The Drought Monitor and after the Drought Monitor map, you see where the drought is you see woo where weve gotten the moisture, jill allen, senior analyst. This is great news. This is map were looking at moisture projected coming in the over coming weekend. It will give us muchneeded rain into the driest portion of the drought. What that has done, it create ad huge spread. Look at price of corn right now, the old crop corn is high. Not quite 7 the but still up there. The if you look december, coming up december corn which is next harvest much lower. Much lower. About 1. 50 lower. Plain and Simple Holding the old crop up to the last years drought and pressing new crop down due to the moisture coming in. Before we get away who is pulling money out of the grain market . Fund are putting it out of the grain market and putting it into the equity market. Because equities are attractive. Theyre at attractive and making alltime highs. We have snow up to our knees does not guaranty the moisture will get into the ground and stop the drought. No, its not. Snow melts some will run off well need more into the springtime. Summer will be the key. Okay. Equities now, not corn. I told you buy a corn a year ago. If you listened youre reich. If not, dont buy it now. Ashley you did tell us. Jeff flock thank you so much from a snowy field in illinois. Tracy he is great. Coming up weeks ahead are critical for deciding the fate of the Keystone Pipeline extension. Transcanada ceo russ girling will tell us why the company is still confident next. Ashley first, lets take a look at some of todays winners and losers. The dow is up 27 points. Lets look at the s p and some of the winners there. Well be right back. Meet bill and melissa. Like many, they built their financial house on stocks, bonds, and insurance. Anthen saw it blow away with the first winds of economic change. When mary lost her husband, she invested in real estate. But when the housing bubble burst. So did her financial future. Robert and rachel discovered the security, safety, and stability of american bullion, the name you can trust for 401 k rollovers and i. R. A. Transfers. Unlike other gold companies, american bullion handles all the paperwork for you, hasslefree and 100 taxfree. 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But i think it is curious that the dow has hit alltime high before the s p, but i do expect s p to get back to its alltime high. Nicole thats big news if you think that. I think thats already baked in the cake. We will hit it in a couple of sessions. But then well pull back and reevaluate. Nicole thats interesting. How do you think we actually got here . I mean, we know that theres been unemployment and its been a tough go of it. But things have improved. How do you think we got to these highs . Personally i think we got to the highs because of the fed liquidity, a lot of pushback by some fundamental guys, corporate earnings have been pretty well. You cannot deny the fact that this market has gone forward while the other markets have barely budged. Nicole weve got it. Thank you. Ashley nicole, thank you very much. We will be back in 15 minutes. We are in the waiting period to see if the Keystone Pipeline is approved. A draft report that the state department put out said that the proposed 5. 3 billion dollars pipeline wouldnt fuel a spike in gas emissions. How about that. That doesnt mean the environmentalists are going to quit this fight. Lets bring in the companys president and ceo. Russ, this report went out, and if im not mistaken, as of tomorrow, the public has 45 days to basically give their opinion of all this. Youve got to believe the environmentalists are going to be all over this. Oh, i suspect that they will continue to make the same comments they have made in the past, but its been four and a half years and now 12,000 pages of a report. I cant think of any new information thats going to be raised over the coming 45 days that hasnt been raised already and been addressed in that 12,000 pages. Then after that, the state department has 90 days to approve it. Last time on day 79, they said huhuh, no way, youre thinking this time, were going to make it through the 90 days. Im still confident. They havent specified the time frame yet, whether its 90 days or something shorter than that. I would argue that certainly could be shorter than that as you pointed out, 79 days had passed already. And you know, the key issues have been addressed that resulted in the delay. The Environmental ImpactStatement Last week concluded that the pipeline itself can be built safely. It has no impact on the environment. It has no impact on the amount of refining thats going take place for the production. And therefore, has no impact on emissions as well. It just makes the movement of that oil from the supply to market more efficient and less risky. All of these issues that needed to be addressed have been addressed so i think that can be done in an expedited time frame. Just to remind people, were talking about the bottom half of the pipeline from Oklahoma City down to basically to the gulf. So it is not a huge piece of pipeline. And i saw a quote recently that if you looked at the map of the United States, with all the pipelines on it, it looks like the veins in your grandmothers legs. There are so many pipelines there to begin with; right . This pipeline not only benefits the United States but really benefits canada as well, doesnt it . It does. And actually the portion from oklahoma through the gulf coast is actually under construction right now. About 55 complete. But really the portion through montana, south dakota, nebraska, thats all thats left in this keystone xl approval at the current time. It does benefit canada a great deal. I think theres a great trading relationship thats existed between our two countries for 145 years. Energy has been a key component of that. I think thats one of the huge benefits to the United States of this project. Canada has more oil than it needs, and the u. S. Consumes more oil than it produces. That seems to me to be a very very good marriage. Right, i think it is a point thats missed often is you do have an excess supply and you have no choice but to get it out there in order to get the price of this crude back up; right . So you are either going to sell it to us or you are probably going to end up selling it to china if we dont take it. Absolutely i think the canadian government and the industry has made it a priority to diversify its markets. This is a very very important resource to canada, to north america, but also to the world. It is the Third Largest source of crude oil in the world. And probably the largest source of crude oil thats available for third parties to invest in. So the interest in this is great all over the globe. Tracy and the good news is that canada likes us. Those other countries dont. Russ, i hope you will come back if this is approved and we can throw confetti and have a little party. Thank you very much. And we do like you very much. Tracy russ, transcanada president and ceo. He likes me, he really likes me. Ashley do not use that analogy of grandmothers legs again. Tracy it is a good one, isnt it . Ashley it paints the picture, but gerri was looking a little tracy it is a good analogy. Ashley we get it. Lets get to gerri. Lets talk about pensions. Gerri lewis joins us with more on this incredible story. I cant follow that. Tracy you are going to use it tonight, i know you are. You are going to run with it. Thats the essence of journalism. Ashley highest compliment. Yes, it is. Now they are doing a five Day Conference in hawaii at a resort that is located on the widest part of the sand. Its a national conference. 1,000 people are going to be there. Five pools. You know, youve got the water slidd. You know, youve got rooftop restaurants. The whole thing. Now meantime, what do we know about public Pension Funds . Well, they are under water; right . Theres some 766 billion to 2. 2 trillion that they have as unfunded liabilities out there. And i have to tell you, i cant believe they are going to do this. Let me read to you what hank kim had to say this is a fellow wouldnt you rather be there today . Ashley it looks great. I could be out on that beach getting a tan but instead i i am working as these people. Heres what this fellow had to say this fellow is missing the point. Its not about being at a pretty place. Ashley they couldnt cancel is what they are saying. They have to pay a half a Million Dollars to cancel. I almost think it is better to cancel it and do it by skype. Skype is free. Ashley this was booked back in 06. All of these people do it this way, though. I mean thats not surprising. Am i right . This isnt right. Ashley of course it is not right. It is crazy. Ashley what do you have coming up tonight . The federal government in its wisdom and as it cuts back is talking about getting rid of some of these airline towers at very small airports across the country. And so were going to show you where those are, whats going to be impacted. Will it make a big difference . The one take away i have already as we study is this these privatelymanaged air Traffic Control towers are cheaper than the ones run by the faa. Ashley go figure. So maybe instead of closing them down, maybe the entire system should be private. Tracy what do you know . Ashley thanks gerri, very much. Dont miss the willis report tonight at 6 00 p. M. Eastern time right here on fox business. Tracy all right. We have some breaking news for you now. Oil closing up 1. 13. Now, 91. 56 a barrel. Basically rebounding from yesterdays loss. Ashley indeed it is. Tracy facebook is updating its status. Were live at the social media giants headquarters with details. Ashley but first, take a look at the 10 and 30 year treasuries as we head to the break. [ woman ] if you have the audacity to believe your Financial Advisor should focus on your longterm goals, not their shortterm agenda. [ male announcer ] join the nearly 7 million investors who think like you do. Face time and think time make a difference. At edward jones, its how we make sense of investing. You are gonna need a wingman. D my cash back keeps the party going. But my Airline Miles take it worldwide. Male announcer ] it shouldnt be this hard. With creditcards. Com, its easy to search ndreds of cards and apply online. Creditcards. Com. Im lori rothman with your fox business brief. According to the fed, Household Wealth topped 66 trillion dollars during the Fourth Quarter. Its highest level since the Fourth Quarter of 2007. Nokia ceo pay package has suffered some major static in 2012. According to regulatory filing his pay package dropped 45 as the mobile phone maker looked to trim costs and struggle to gain ground in the mobile device market. More than 47,000 cars and suvs have been recalled because the engines can start on their own, with the remote starters. The recall includes thats the latest from the Fox Business Network. Tracy recent breaking news, the Associated Press is reporting that new york yankee closer might actually retire after the 2013 season. He is 43. Right handed pitcher signed my sons glove. He is a gentleman. Ashley a good guy. Tracy a good guy. Ashley an amazing pitcher too. Tracy yeah. Ashley all right a facelift for facebook. Unveiling a new look for the sites news feed feature. Robert gray live from the companys headquarters with all the details. Robert . Robert hey, ashley. Thats right. It is the first overhaul of the the biggest anyway for the news feed. Most of people spend most of their time on facebook since it debuted. Its what facebook folks and some advertisers that i spoke with were hoping for, richer experience with larger posts, bigger pictures, hoping people will start spending more time on facebook. They have been spending less overall of late and creating what founder and ceo Mark Zuckerberg calls a personalized newspaper. News feed is one of the most Important Services that we build. It takes all the things that your friends are doing, and it puts them right in front of you, so you can see them in one place. Now, because of the history of news feed, its easy to think about it, as just a single stream of content, but our goal is actually a lot broader. What were trying to do is give everyone in the world the best personalized newspaper we can. Robert and of course they will be dividing the content into different channels. You will have friends, music, photos all on different channels allowing for more Advertising Opportunities and investors seem to like the change. Take a look at the stock. It is up better than 3 in todays session. Back to you. Tracy i dont know if i like that. Thanks, robert gray. Ashley thank you, robert. Tracy isnt the point of the news to introduce to me something i dont already know . Ashley thinking of making the tracy byrnes times. Tracy it could be boring. Ashley i dont think so. Tracy now lets get to nicole. Nicole we just keep on going because theres always a lot of news. Thank you, tracy. Appreciate it folks very much. I want to take a look at pandora and apple. Two names that we focus on a lot. Heres a look at pandora which has been struggling. 16 ipo today after the bell they will report their quarterly numbers. Pandora is a winner year to date, up almost 30 year to date. They have over 125 million registered users for Internet Radio and the like. Apple in the meantime is working hard on trying to do Music Streaming Service but hasnt quite nailed that down yet, but obviously that will be in the cards as well. Back to you. Tracy thanks nicole. See you at the top of the hour. Ashley virginia among the states hardest hit by automatic spending cuts. Governor bob mcdonald will tell us how the commonwealth is feeling the impact next. Tracy first as we head out to break, the dow is up 25 points. Lets take a look at some winners and losers on the nasdaq. Facebook is up as robert gray reported. Up 3 . We will be right back. Tracy for years speculation that time warner would get rid of its big magazine group. The day has finally come. A little too late we think, though. Dennis neal has that and more. You know what . For time warner, youve got to ask what took you so long. Five years after the internet began eating away at print media. Time warner long last spinning off the time part. 117 print magazines at the heart of a media titan forging an epic takeover battle two decades ago. What once was the largest Media Entertainment company in the world. Time warner has struggled for a decade after the disastrous acquisition of America Online at the height of the dot com bubble. It spun off Cable Systems to great effect. That stock, time warner cable, up over 220 since that spin off. And got rid of aol with some success, up almost 60 in that time, aol stock is. But all along, time warner steadfastly refused to shed magazines. Thanks to denial and maybe just plain loyalty. Now, it is selling at the bottom. Shedding magazines as if it were putting an elderly eskimo on an ice flow and shoving it out to sea. You have to wonder whether the print is better off going private and hiding from an unloving wall street. Bigger question, whats left of the old time warner . Some people say time warner itself could become an attractive takeover target. The Media Business is pulling in opposite directions. Newscorp our parent spinning off wall street journal in print. Cbs shedding billboards. Comcast buying the rest of Nbc Universal from ge. Time warner maybe three scenarios, a buyout chop shop, buy it, break it up, sell off pieces, it could merge maybe instead with a rival like a viacom lets say. Heres a cool idea, maybe it gets bought as a big content shop by an inner looper, say an amazon or apple or even netflix. So stay tuned, dudes. Tracy all right, then. Ashley thank you, dude, thank you dennis. Ashley for more on a states fiscal future, we are joined by the Virginia Governor bob mcdonald. Governor, thank you for being here. Of all the states that are vulnerable to the sequestration, virginia in particular with its home to so much of the defense industry, how has these automatic cuts impacted your state so far . Well, thanks for having me on, ashley. I appreciate it. Sequestration was meant to be a hammer, not a policy. People expected the last 18 months it would actually get solved and it hasnt. So the problem with it of course as you take the entitlement reform and cuts off the table, and you put half of the cuts on defense, its just a really horrible policy. What it means is a trillion dollars with previous cuts, plus sequestration over ten years. Its a couple hundred thousand jobs in virginia, and frankly it hurts our kids in uniform in afghanistan and our readiness here in virginia. So its bad news. We can already see some downturns in the defense contracting industry. And look, defense has got to take its share, but dont put half of it on defense. Thats our problem. I think Going Forward in the next 45 days, were expected to see a pretty significant number of furloughs of our dod civilian employees, so i think we will see more in about a month. Ashley so who is to blame for this mess . Well, look what we do in richmond is we solve problems. We dont do what the president does in washington. I will say i think it was established it is the president s idea. He is the commanderinchief. You have to be able to lead. Governors cant make excuses. We have to get stuff done. Working with divided legislat e legislatures like the president has, i had it for two years. You need to find ways to take on entitlement spending and lessen the cuts in defense. If the president is not willing to do that and now tries to interject tax increases when sequestration has always been about spending cuts, thats just not the right thing to do. Ashley governor, i wanted to mention you are overseeing this sweeping transportation plan, but conservatives, people of your own party, say you broke a pledge and raised taxes. How do you respond . Well, the bill is coming to my desk. I did put transportation hard this session. Im tired of us having our problems with job creation with infrastructure, with quality of life for families, nd i proposed a way of getting that done. The legislature made some changes to it. It does involve revenue increases in Northern Virginia and hampton road. Statewide it is about 20 bucks per person. So listen, theres no easy ways to get americas infrastructure rebuilt. Ive got the most congested part of the country in Northern Virginia. So were making some tough decisions. Not everybody may be happy with the method, but they will be happy that were getting people back to work and out of traffic. You know, i look at what reagan did 30 years ago. He raised the gas tax 125 , and he said look im not going to let the infrastructure crumble. Now, im no ronald reagan, but i do know that sometimes youve got to make tough decisions as governor and get things done and get problems solved, and thats what were doing. Ashley we wish you the best of luck, Virginia Governor bob mcdonald. Thank you very much for joining us. Okay, thanks, ashley. Tracy kind of looks like reagan a little. Liz claman takes us through the last hour of trading. Shes talking to a compliance expert of columbia university. Hes going to explain why the feds stress test could lead to problems for the major banks and their shareholders. Countdown to the closing bell is next