You are gonna need a wingman. And 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 hundreds of cards and apply online. Creditcards. Com. Lori welcome to a brandnew hour of market now. I am lori rothman. Melissa i am melissa francis. We need a redhead. Where is Elizabeth Macdonald . Lori i do not know where you are going with that. Melissa Senate Democrats are set to deliver the first budget plan in the last four years. Only one answer to the debate, we will talk with adam schiff this hour. Lori we are talking about Cyber Threats. An inside look at how washington is prepared or not to handle the global threat. Melissa two years after japans hiroshima disaster. Why one is still bullish on the power source. In the meantime, it is time for stocks now as they do every 15 minutes. Nicole petallides is standing by. It looks like we are on track with yet another record. Nicole i cannot believe it. Even traders are left baffled as well. They are expecting some sort of pull back. The dow right now is up 15 points. It crossed over the unchanged line yesterday 57 times. Talk about the market uncertainty. We are up about 400 points in the last eight trading days. We also continue to watch a winning day on wall street. This would be our seventh record close in a row consecutively. We cannot give you all green all the time. Looking at some names coming under pressure. Looking at verizon, in particular. Also, we are looking at alcoa, procter and gamble, hewlettpackard and home depot round out the bottom five. Melissa thank you so much, nicole. Lori Jpmorgan Chase denying a attack. Another round of attacks over u. S. Financial institutions. President Obama Meeting with the ceos today at the white house to discuss efforts of security and private industries. Here is an inside look. Michael chertoff. Welcome. We are thrilled to have you this afternoon. Good to me on, lori. Lori you are saying Cyber Threats are a bigger threat than al qaeda type attacks. You are really dealing with separate attacks. One is intellectual property. A lot of it going overseas. Pat has a serious economic impact. They can interfere with peoples ability to get access. There is a possibility of an attack on political infrastructure. Transportation system, water system, power system. That could have reallife consequences. Each of these is a real life problem. Lori where are we now if the goal is fast, stealing trade secrets and there is a threat to human life, at one point will that be killing the ultimate goal . I think we are in several different places. I think National Security adviser spoke a couple days ago about the need to really raise this with the chinese in a vigorous fashion. They have to understand they are hurting themselves globally by having a reputation for taking a lot of intellectual assets. On the attacks that could actually be disruptive, there we need to get the private sector involved to make sure they are providing the money and effort necessary to protect their networks. It can certainly operate overseas, the government can share important intelligence. The every day blocking and tackling has to be done in the private sector. Lori that is the president s goal today, right secretary . All of this is going on. This National Debate of how to rein in spending. Can anything practical really come of this meeting with the president today . The private sector needs to invest. That is not a matter of the federal budget. It is as important to protect your assets from Cyber Attacks. The government will need to invest more in Cyber Security. In the long run, if we do not make adequate budget investments in cyber, we will find ourselves on the receiving end of some very dangerous surprises. Lori will this fall upon the private sector, given what you just told me . We also learned that the pentagon Cyber Command unit it is almost like you are working on two different fronts to solve this problem, but there may not be the money from the government to support that front. Lori, you are right. There are two different fronts. The government usually takes responsibility for what we call the away game. In terms of our domestic networks, the government can play a role in helping people and empowering people in sharing information. We do not expect the government to sit on everybodys private network and look at everything that goes back and forth. I think what we are looking to do is set some standards, encourage people to make investments they need to make and then give them the information they need to be intelligent about how they deploy their defenses. Lori take you for your take on this. Troubling issue. Michael chertoff. Melissa causing one of the worst Nuclear Disasters in history. Now japans government is looking to revive its Atomic Energy industry. Back then it provided dirty of japans power. Today only two reactors are back in action. Despite all of that, my next guest is bullish. Spencer abraham. A former u. S. Senator in michigan. Thank you so much for coming on the show. What is sentiment like towards nuclear in japan today. I think it is changing as time goes on. I think you are seeing the initial decision to curtail Nuclear Power. I think japan has realize it does not have a lot of natural resources. If it does away with nuclear, it will have to import a lot more oil and natural gas and other items and the much more dependent on trade to keep its Energy Sector going. I think they are slowly deciding that does not make sense for them. I think it is an encouraging sign. Melissa and fax, they cycle through brief prime ministers and not time. What is the damage like these days on the ground . It is still in the stage of, you know, being measured. I do not make you can judge. They are putting a lot of their focus on trying to monitor and determine the extent of the damage of the site. The question is whether or not as a future policy it make sense to determine whether an incident of this magnitude, but as unique as it was whether that is something that should cause them to curtail nuclear altogether. I think their decision is moving in the direction as keeping Nuclear Power as a key part of their mix. Melissa what about elsewhere around the world . It seems like the rest of the world has moved on, to a certain extent. As you said in the earlier introduction, i am bullish because we are seeing people kind of took a step back. They paused and studied things. Now we are moving forward. A dramatic increase in new builds in china. New plants being constructed and places diverse as in finland. Even in the United States after the initial hesitation. We have two plants under construction. Five plants in numerous stages of development. Nuclear power provides 20 of the base power load of the world. It is pretty hard to replace that large a supply of power i think you will see Nuclear Power at least maintain its permanent role and possibly expand over time. Melissa we have a new Energy Secretary coming on board here in the u. S. I think he knows a lot about it. A scientist with a gray background. Melissa steven chu is the outgoing secretary. Ernest moniz is the new one. I think he will bring a reasonable approach to it from a policy point of view. What that means is things in the u. S. And in the rest of the world are in a lot more positive position today than was the case two years ago this week. Melissa secretary and senator abraham, thank you for coming on. I do not know what to call you these days. Thank you, alyssa. Lori what does your College Diploma say about how much money you can make. Melissa president Obama Meeting with House Republicans just about 20 minutes from now. A new poll shows how fed up americans really are with washington. Details with that i had. Dad, id put that down. Ah. 4g, huh . Verizon 4g lte. 700 megahertz spectrum, endtoend, pure lte build. The most consistent speeds indoors or out. And, obviously, astonishing throughput. Obviously. You know how fast our home wifi is . Yeah. This is basically just asast. Oh. And verizons got more fast lte coverage than all other networks combined. Its better. Yes. Oh, why didnt you just say that . Huh what is he doing . Melissa as we do every 15 minutes, lets get a check at the markets. Nicole petallides at the new york stock exchange. Nicole four straight months of consecutive games doing well for the Retail Sector overall. Americans are buying what they need. They are buying gasoline. They are buying autos and groceries. What they have stepped back on his buying in Department Stores and furnitures, also restaurants. They are not really going for the nonessentials. Macys, the department store, is at an alltime high. The going forward, experts say the top three firms will come in and Consumer Sentiment is starting to prove. The labor market has been going in the right direction, for the most part. Back to you. Melissa thank you, nicole. Todays report is just one more example of the climb of the middle class in this country. She joins ashley and tracy in the next hour. Lori in the meantime, how much is your College Degree worth . Here is peter barnes from washington, d. C. With details on this report. Peter this Study Suggests that the best investment for college kids today cannot be the traditional four year degree, but a twoyear degree in a technical or specialized field. In colorado, and Associates Degree in Applied Sciences. More in the first year than most other types of degrees. That is because the report says it up with students with skills that are in demand. A four year bachelors degree earned about 39,000. A twoyear associates of Applied Science degree earned nearly 46,000 in the first year. Good to know. Especially for kids to have to borrow a lot of money to pay for school through federal student loan programs. Students are paying much more for college than they ever had and taxpayers are paying much more. Here are some of the top ten twoyear degrees. Criminal justice, 44,000 in year one. Healthcare like diagnostics, 45,000. Nursing, 41,500. Fire protection in colorado, 62,000 in year one. I want to note that this study is during the first year. It did not discuss the value of broadcasting degrees. Lori and melissa. Melissa peter barnes, thank you so much. What you study really makes a difference in terms of your income. It really shows the Unemployment Rate college versus no college, you still have a much better chance of getting a job. Lori those initial years out of school. Longterm here is what our charts indicate. Melissa it is not a free ride and you are still getting an expensive degree. Lori you want to put a punctuation mark to that . Peter it is a tradeoff to what will the degree cost and what do you have to to make . And you can go to school for two years, payless and make more. Lori you have to factor your loan amount into the earning equation. It is so easy to get that cheap money and it allows the universities to charge higher tuitions. That scandinavian literature degree, maybe not such a good idea. Thank you, peter. Be sure to tune in tomorrow at 4 00 p. M. Eastern. Peter barnes is sitting down with newly minted treasury secretary jack lew. Melissa how important is the balanced budget. They offer to get us in ten years. President obama says it is not a top priority. That is coming up next. Lori the dial up about 11 points. Lets see what their reaction is. The dollar is slightly stronger, but below that 130 strike against the euro. We are back after this. [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. And that their Homeowners Insurance protectshem. [ thunder crashes ] it doesnt. Stop pretending. Only Flood Insurance covers floods. Visit floodsmart. Gov pretend to learn your risk. Lori the president set to meet with House Republicans and just minutes. Americans do not seem too impressed. 44 said president obama and the other said they trust republicans in congress. President obama held an 18 percentage point advantage over congressional republicans. Now it is a far more even split. Melissa republicans offering up a Budget Proposal yesterday. Without adding additional taxes. Expected to release proposal soon. With it may come nearly a trillion dollars in additional taxes for americans. Joining me now is congressman of chicago. Congressman, talk to me first about the democrats plan. We are reading it could include another trillion dollars in tax increases. Is that true . I think it will be a balanced plan. When you look at what we have done already and we have done about 2. 5 trillion in deficit reduction, it has been far more waited. This will continue to have a balanced Program Going forward. It is a bit of a retread to what they did before the last race. Melissa they will have to be reconciled. Lets talk about adding more revenues or tax increases. Do you think they can really handle more given this economy . I think we can get rid of the special interest tax loopholes. Melissa are you talking about changing to ordinary income . That 21 billion makes a lot of difference. It may make a difference whether we have a Medicaid Program that can help meet the needs of the people falling through the cracks, it may mean that additional grants for cancer research. It is still, even in washington a lot of money. I would like to see each of the agencies look at each of their own budgets. I think we can do further inductions that way, that are sensible that allow us to continue investment in the country and, in fact, increase investments where we need to. Melissa you spoke in the beginning about trying to find a Common Ground between the two plants. I certainly accept the need. I think that is very important. It should not, the cost cost of growing jobs, keeping the economic momentum we shall last month going. That should be our top priority. Melissa a lot of the economists say the debt in and of itself does crowd out the private economy. I think that is unquestionably the case. Lets do this in a thoughtful way that will take us some time to accomplish, but will not kill our economy and momentum now. Lets structure it so we can pay down those deficits and debt. Melissa congressman, make you so much for coming on. Coming up tonight on money, a Ranking Member of the House Budget Committee will join me to break down the Budget Proposal. Another democrat. We will solve this problem if it kills us. Lori stocks now as we do every 15 minutes. Lets head to the floor of the new york stock exchange. The dow holding up here. Nicole we are still in the green. I am walking you over to an ipo today at the same time. We went over the unchanged line be seven times yesterday on the Dow Jones Industrial average. Today we have an up arrow. I want to bring you over to Silver Spring network. They do things such as connecting pg and eat to the power grid. You may have seen, it was at 21. 53. The 17 ipo. It certainly had a lot of buzz and jumped on the day. Lori thank you, nicole. President Obama Meeting with House Republicans and moments. We will get the first words from the capital next. Melissa more waiting from boeing. The latest as the faa clears the path for test flights. Whats next . Hes going to apply testosterone to his underarm. Axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. Axon is not for use in women or anyone younger than 18. Axiron can transfer to others through direct contact. Women, especially those who are or who may become pregnant, and children should avoid contact where axirons applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these signs and symptoms to your doctor if they occur. Tell your doctor about all medical conditions and medications. Do not use if you have prostate or breast cancer. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet, or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. See your doctor, and for a 30day free trial, go to axiron. Com. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. Online, infinite possibilities. But that doesnt mean i dont want to make money. Stor. I love making money. I try to be smart with my investments. I also try to keep my costs down. Whats your plan . Ishares. W 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. Melissa breaking news right now. President obama arriving on capitol hill to meet with house rub rub republicans. It is the second day in a row the president make as trip to capitol hill. Rich edson is live with details. Rich, what is going on . House republicans collectively, president obamas strongest opponents in washington, d. C. He got here a while ago for the one 30 meeting. This is the first time he will meet with the entire house Conference Since june of 2011. A awful lot of budget things going on in washington right now. Lets walk through what is going on right now. First off, Government Spending runs out march 27th. House passed a bill. The senate is working on a different version. Looks like we might avoid the government shutdown. Congress is actually working on that. You hear about the white house, senate and house 2014 budgets. That doesnt affect the budget of october 1st, 2015. That is when the budget starts. There is talk of a grand bargain. There is plenty of skepticism about that. We have been here before since the opening offers on budgets have drawn plenty of consistent criticism for both parties. If this new version is even more extreme than the last two. Ryan republican Budget Proposals. Proposals that sought to end medicare guaranty and raise taxes on middle class families. All while handing out more tax breaks to the wealthy. Im calling on my democratic friends to shelf the extremist liberal budget weve been hearing so much about. Why dont we get serious and start doing things necessary to make government more efficient . This is the second trip for president obama in the last couple of days to capitol hill. Yesterday he was here meeting with Senate Democrats. The that Meeting House republicans starts with a couple of minutes. We will hear from Republican Leaders after that meeting. Tomorrow president obama returns to capitol hill to meet with Senate Republicans and House Democrats meeting both legislatures, both parties. Just a matter of three days. Back to you. Melissa rich edson, thanks so much. Lori the faa has approved boeings plan here to redesign those batteries on the grounded 787 dreamliner, two of which caught fire in january you probably recall. Here with more whether this is the end of the dreamliners nightmare is liz macdonald. Emacs bottom line. So theyre going to be stress testing the battery with test flights, right . What the Company Wants and according to our sources they want to get the dreamliner back into commercial use by may but whether that is premature remains to be seen because we talked to other analysts and heres the problem. They still arent 100 confident what they think happened with the batteries catching fire. Was it an electrical current surge with the Nippon Airways plane in tokyo . Here is a shot, not very nice to look at. That is the dreamliners burnt battery. Lori like my toaster. Looks like a toaster, there you go. This scares people of course therr are safety issues. But again they dont know what the precise cause for the outage or the fire. One was a cell in the battery burning down. Now here is what the company is saying quickly. Theyre saying we built ventilation systems, thermal and electrical insulation system to redivert the smoke and heat outside the plane if it catches fire again. The thing is, you have to calm down wall street. They want to know what caused the fire in the plane in japan. Was it an electrical current surge . And can they stop it with this new battery . Thats what coulddweigh down the stock though the stock is at a fiveyear high. There is still selling a lot of planes. There is the report out they may sell 15 billion or more worth of planes to ryanair. Lori you have boeing and airbus selling airplanes. There are only two of them. They have a hefty market share to enjoy. Boeings earnings from the commercial airplanes were up 35 last year. Lori there you go. Theyre posting real nice earnings. Question marks remain from wall street analyst what is caused the fiery in one of the batteris. Lori we know youre on it, emac. Sure. Melissa Charlie Gasparino is next with whatever happened to Meredith Whitneys talk of starting a Ratings Agency. Lori talk about the treasurys. Yield are spiking up 2 on better than expected news on retail sales. Folks are thinking the economy is improving. Theyre flocking out of safe haven investments. The yield is still lower than the 11month peak hit on friday after that better than expected february jobs report. Back after this. [ cows moo ] [ sizzling ] more rain. [ thunder rumbles ] [ ma announcer ] when the world moves. Futes move first. Learn futures from experienced pros with dedicated chats and daily live webinars. And trade with papermoney to testdrive thearket. All on thinkorswim. From td ameritrade. You are gonna need a wingman. And 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 hundreds of cards and apply online. Creditcards. Com. I am Dennis Kneale with your fox business brief. Philip Morris International names andre as the companys new chief executive. He will replace the current ceo who will remain as chairman following the companys annual Shareholders Meeting on may 8th. Apples ceo tim cook will testify in the government lawsuit against the tech giant over alleged price fixing in the ebook market. A District Court judge granting the Justice Departments request compelling cook to testify. Shares of Silver Spring networks are soaring in their wall street debut. The Energy Company opened at 22 a share on the new york stock exchange. 29 above the ipo price. Silver spring works with Utility Companies to create what is known as smart grids that help lower costs and increase efficiency. That is the latest from fox business, giving you the power to prosper lori where is Meredith Whitney, remember her . She is promising a ratings agencies. Nowhere according to Securities Exchange commission. Fox business Senior Correspondent Charlie Gasparino with the story. We should point out a lot has happened between the time Meredith Whitney, once famous banking analyst who became infamous bonn analyst said in 2010, she wanted to hire 600 analysts, pay them 250,000 a year. Big, big bucks for analyst to do a Ratings Agency that essentially competes with moodys and s p. What happens instead her disasterous muni call. This is what we know right now, sources tell the Fox Business Network Meredith Whitney is no longer considering opening a Ratings Agency. These are people close to whitney pointing out. She has not returned my call for comment and last two years since i have been reporting on her muni call. One way to check it is with the sec in order to become a nationally recognized Rating Agency you have to make an application to the Securities Exchange commission. She has not done that this is three years after she made that statement, i believe it was to the Financial Times first, she said she was going to do with. What were hear essentially Meredith Whitney advisors is not going this way. Here is the bigger question. This firm that she has, supposed to do bank ratings, the question is how much longer will this be a significant firm, Analytical Firm . I cant tell you that. There is lots of rumors about this thing potentially going out of business or Meredith Whitney teaming up with somebody else. That the staff has shrunk into fairly insignificant size. It is kind of an interesting story. This was, we should point out this was something during the financial crisis maybe the best known analyst during the financial crisis. She was many someone came out with the financial crisis with a head of steam and broke off from open pen himmer and company and create a very strong firm. At least from people pretty close to firm if she is not on the last leg she is pretty close. This is not a thriving business. What we do know the Ratings Agency part, she has not applied to the sec three years since she made the announcement. From what i understand she is not going to do that. Lori what inspired you to follow up on the Meredith Whitney career path . Just regular old reporting followup or . Every time i look up i see her face on it. V. Lori is that so . Yeah. I figure she is in the news. You know, my job i think, to some extent is to hold people accountable for what they say. We as reporters get held accountable all the time. Why not hold the fat cats accountable . One of the things about Meredith Whitney to first to start the Ratings Agency to rival moodys and s p. Melissa initially when she made the muni bond call and some were wondering how it would pan out if at all there was still demand for her. What do you think about now . There was demand for her at that time. Melissa thats what i mean. The call was disasterously wrong. The weeshould point out the we were the Fox Business Network to get essentially the analysis which was pretty lame. The analysis never said what she went on tv said. The analysis was broad stroke, basically state budgeting. It did not talk about here are 50 places which will implode, what she said. 50 to 100 large defaults. Hundreds of billions of dollars would start defaulting when she said it back in late 2010. You know, im going secondhand now. I know some people very high on her. I know jamie dimon and people at jpmorgan like her. I know some people that arent very high on her and i think her business did get hurt by that call and i think the rating agencies aspect of it, you know, some of this is surmise. She is not returning my calls some of this is like im talking to people. Im trying to piece this together. Clearly if she hasnt started her Ratings Agency by now the chances are, you know, its not coming and she had big plans for that thing. If you remember what she said. She was going to hire 600 analysts. This would be a major undertaking. If she is hiring 600 analysts right now, ill tell you it is the quietest hiring on wall street amid layoffs and everything else. Lori thanks, charlie. Always with an ear to the pavement, thats for sure. Melissa as we do every 15 minutes lefts check the markets. Nicole petallides on the floor of new york stock exchange. Looking at a big winner and loser on wall street. On the s p 500, melissa and lori. Two names on the move, one with an up arrow, one with a down. S p is not doing too much. Walgreens and valero making news upgrade and downgrades. Walgreen is up 4. 25 . It was raised to buy rating from a neutral. The new price target 48 bucks from 41. Clearly 42. 78 has upside potential to move up to the 48 mark. Saying the drugstore chain could see strong margins. Then there is valero. They say there could be a big impact on earnings. Theyre vulnerable to hiring costs. It is down nearly 3 today. Back to you. Melissa nicole, thanks so much. Lets get a quick check on oil prices while were doing it, cut early gains. Crude breaking below 93 a barrel as inventories rose more than expected. The latest eia data showing crude supplies rose by 2. 6 Million Barrels last week. Analyst were looking for 2. 4 Million Barrels. Part of a jump as a result of refiner demand dropping to a twoyear low. With todays move oil is on track for its fifth straight day of gains. Although look at that, turning negative as were speaking, jinxing it. 92. 91 there. Lori are we on shoulder season . Melissa were getting to end of it switching to the summer blend. Lori you can tell spring is upon us. I cant sit still. When buying marijuana is as simple why did they give me this piece . Melissa i dont know. Lori simple as throwing money into a vending machine. Yes you heard correctly. Make sure you turn in friday to our networkwide coverage on the business of vice. Well at 1 00 p. M. Introduce you to the publiclytraded med box. Shares of company are down but the company is looking to rise on the rapid rise of medical marijuana use. Business of vice all day friday on fox business. Netflix and facebook streaming up. How you could take advantage next. Melissa the pope craze continues. Yes, Dennis Rodman is at the vatican among thousands gathering there. Lori are you kidding me . Melissa he is. Lori is that him in that wanna be popemobile . Melissa were keeping an eye on the chimney waiting for a decision on the pope. Were keeping an eye on twitter, hashtag pope tops the trending list. Today is gonna be an important y for us. You ready . We wanna be our brothers keeper. Whats number two we wanna do . Bring it up to 90 decatherms. How bout ya, joe . Lets go ahead and bring it online. Attention on site, attention on site. Now starting unit nine. Some of the worlds cleanest gas turbines are now powering some americas biggest cities. Siemens. Ansrs. Lori netflix has accepted a new friend request and you will never request who. The video streeping service is joining forces with facebook to make your saturday night bing viewing a social media affair. Social expert Shibani Joshi has more. This is a moment that facebook friend and netflix users have been waiting a very long time for, the ability to showcase and share the tv shows that you watch and movies that you watch across netflix as well as facebook. That news came out today and the new integration lets netflix members see what tv shows and movies their friends watched by adding a new feature to the netflix user interface to share what they watch within both netflix and facebook. The upgrade will turn on in the coming days. Netflix does say they will, users will be able to take advantage of this by the end of the week. So if youre on facebook, give it a couple days. But if you dont want to share, dont worry. That is always a concern of people and theyre concerned about their privacy when these more additional, or additional sharing functions turn on. Netflix product integration wrote about piracy and privacy features i should say on the companys blog, posting quote, you are in control of what gets shared. You can choose not to share a specific title by clicking do not share this button in the player. The reason this has not been available for so long, lori, there was an a law, antiquated law prevented people from disclosing vhs and laser disk rental history. That was updated in 2012. There you go, 2013 its a whole new era. Lori that is fascinating background though. Thank you, shibani. Melissa while we await official word from the vatican, vatican followers are turning to twitter with hashtag pope. People sharing their thoughts on anything but the actual papal conclave like the london fire brigade taking the opportunity to tweet, if you see black smoke billowing anywhere than the vatican give us a bell. Probably not a good sign. Twitter user david edmonds, pope black smoke, dont panic, burned the toast. There you go. David brodie posting new yorks mayor called to the vatican outlaw in public. That is perfect. One of my good friends tweeted black smoke. Lori reminds me of lost wonderful series from a couple years ago. We have to ask tracy keeping up in the pope alarm app. She is legend launching. Next is strays and ash. Dont miss it. Oh this is lame, investors could lose tens of thousands of dollars on their 401 k to hidden fees. Is that what youre looking for, like a hidden fee in your giant mom bag . Maybe i have them. Oh thats right i dont because i rolled my account over to etrade where. Woah. Okay. They dont have hidden fees. Hey fern. The junkrawer . Why would they. Is that my gerbil . You said he moved to a tiny farm. Thats it, im running away. No, no you cant come [ male announcer ] etrade. Less for us. More for you. No, no you cant come we asked total strangers to watch it for us. Thank you so much. I appreciate it. Ill be right back. They didnt take a dime. How much in fees does your bank take to watch your money . If your bank takes more money than a stranger, you need an al. Ally bank. Your money needs an ally. Tracy good afternoon. Ashley another day for the record books. Big surprise, right . On the verge of extending its recordbreaking streak to seven sessions, the longest in a quarter century. Tracy betterthanexpected retail sales with the state of the american chapter. And a closer look at the numbers actually reveals some real concerns and she is here to tell us. Ashley venture capitalist legend launching a new boot camp for entrepreneurs were he says they can fail before they succeed. It is a very interesting interview. Coming up. Tracy but first, breaking news on the federal budget. Details from washington. Peter according to the monthly treasury statement, the budget deficit clocked in in february at 204 compared to 232 billion in february of last year. That is a 28 billion decrease thanks to higher tax revenues and a slight decline in Government Spending. On january 1 this uphill tax increase along with individual tax rates for highincome families. For the fiscal year to date, the deficit came in at 494 billion compared to 581 billion in the same time last year, 87 billion defense. Analysts project the deficit will come in under aatrillion dollars this fiscal year for the first time in five years. Tracy continue to build the case. Ashley down 15 yearoveryear. Tracy we hear you have a big interview tomorrow, sitting down with hot shot jack lew. Peter we will talk to him tomorrow about the budget deficit and how to fix that. It seems the president isnt interested in a balanced budget and we will talk about the state of the economy and headwinds pcs and other issues in the 4 00 eastern time. Ashley thank you. Time for stocks. Not much movement, up on wall street marginally so. Nicole petallides on the floor of the new york stock exchange. Nicole those moves may be marginal, you are correct about that if we were to close right here right now, it would be another consecutive day where we have a recordsetting close on wall street. We have crossed over the unchanged line much like yesterday going over 57 times content to see the backandforth action right now. Now were looking certainly up again, looking at what the fed will be doing, concerned on the stimulus doesnt appear right now they are doing that. Retail sales came in better than expected. Gasoline and autos and groceries, bless shopping in Department Stores and furniture stores. Boeing shares, watching to the upside, now were hearing the faa is getting ready to fly the dreamliner, 787 dreamliner with the new redesigned battery, of course they have been plagued with a lot of issues, but this obviously is a step in the right direction to get flying again. Back to you. Ashley nicole, thank you very much. Despite everything going on. They may be back by me. Tracy good luck with that. The retail data coming out, jeff flock with the latest on that. Jeff a little bit of good, little bit of bad. Oil amongst the bad. That is less than a percent. I want to get his take on gold, but first tha natural gas, cannt seem to stop natural gas climate. Gold on the other hand, today im looking at gold down a little bit after roque out for a while. It had a oneday break out but what gold is trying to do is establish it has a value probably in the 1580, 1590 range. I think you will see the market work lower. Anything 16 and a quarter is the magic number traditions are looking at. Jeff talk about other currencies, if you hold gold and diane, that is a whole different situation. We talk about other countries, we talk about renting money, what about these others . The dollar was the first started back in 2008, 09. Japan found inflation doesnt work. Europe will be doing this, but britain is doing it already. Longterm bullish, it will need an inflation story, doesnt have it today. Jeff stay tuned for gold. Tracy jeff flock, thank you. Ashley the dow is heading for nine straight winning sessions, but may want to wait to buy some more. Market strategist joining us now, thank you so much. There are the market gurus who say the smart money are taking profits and the dumb money is rushing in. What do you say to that . It is a little bit of both. You want to take some profit and also when you look at the tone of the market, it is telling you the market right now the last couple of trading sessions the market has gotten a bit more defensive. These are utilities, health care, starting to take center stage, telling you investors need another catalyst and are taking a bigger profit. Tracy i think the problem especially with the retail investor, i hate to interrupt you, but we have black smoke once again which means we do not have a decision on the hope. I think i may only one in the building who is obsessed with this. Ashley that looks like it is white. Tracy white smoke is seen. So we do have a pope. All of these people have been waiting, kind of a in homage to the new pope. They are waiting. Ashley it was a theory we would not get it until tomorrow, but apparently not, we have a new pope. Tracy roman catholics are thrilled because we needed a pope. Ashley how soon before we know the identity . Tracy hopefully soon. I would love to see who it is. The odds are the ringleader from the men from italy. Very exciting. All right, we will come back now to talk the market. We were talking earlier about looking at what we are seeing right now, maybe we should wait, the market will pull back but every time to tell them to wait, they dont get in. This thing could just take off. It can. Working slowly, working your way in, if you have been out 100 , dont put 100 in right now. You will have the opportunity to work in at lower levels but certainly work your way in. What are the companies, the sectors that havent been doing that well at this point, they will probably get a leg up as the market gains more traction and more momentum based on Economic Data and of course the underwriting from the federal reserve. Ashley i know you like the financials, anyone in particular . Any others . I wish i could say specifically, but i will say this, many of the big former investment banks could not get good marks on the stress test. We would be looking at those as the share prices got punished because the fact those of the very institutions that will be working with mma activity. As long as the backdrop for the market, they will do very well there. We would look at those who would do well, take a look at the mortgages. More mortgages will be offered and that will affect many banks and as jobs improve, that is going to help the bank as well, and the yield curve helps the financials. Something we havent had in over 11 months as the 1 10year yiel. Ashley thank you for joining us, sorry for the interruption. Thank you so much, appreciate it. Thank you. Tracy white smoke was seen at the vatican indicating the cardinals have elected a new pope. I cant wait to hear more about it. On whooit is. But it is quick. There is so much more news ahead on this busy day. President Obama Meeting with House Republicans over the budget and Government Spending. We will have that next. Ashley and Kristin Bentz says she is not impressed with the betterthanexpected numbers and she tells us why. An update on oil trading right now, slightly lower. Down 0. 11 on the day. We will be right back. Investor. Ye, im a serious investor but im a busy guy. It used to be easier but now there are more choices than ever. Want to know exactly what i am investing in. I want to know exactly how much im paying. I want to use the same stuff the big guys use. 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 refully before investing. Risk includes possible loss of principal. You are gonna need a wingman. And with my cash back, you armoney. Forget him. My Airline Miles will take your game worldwide. What im really looking for is i got two words for you rewards. Theres got to be better cards than this. [ male announcer ] theres a better way with creditcards. Com. Compare hundreds of cards from all the major banks to find the one thats right for you. Its simple. Search, compare, and apply at creditcards. Com. First rounds on me. Ashley welcome back, everybody. White smoke seen in the vatican of the chimney above the Sistine Chapel means the cardinals, all 116 of them have elected a new pope. We dont know the identity of that person although we suspect within the hour that person the new leader of the Catholic Church will appear in the balcony and certainly this is in response to what happened last month when Pope Benedict xvi resigned throwing the church into a bit of turmoil because it was almost unprecedented, but fairly quickly we have a new leader of the Catholic Church and there you can see the white smoke billowing out above the Sistine Chapel. A lot of anticipation. St. Peters square packed with people waiting to hear who the new leader will be. The umbrellas are waiting, the flags are waving, within the hour we expect to hear the identity. His name will be announced in latin first. And then we will get the english version. Tracy a quarttr past the hour. A check on the market. Nicole petallides on the floor of the exchange where we go every 15 minutes. Nicole obviously a very exciting last 15 minutes with the election of a new pope. Take a look at what we are seeing on wall street. Take a close look at netflix. Netflix is available in so many ways you can play your xbox at home and get netflix, now something new from netflix tying up with facebook. Now easier to choose Television Shows and movies with friends, netflix subscribers can link their accounts to facebook. This is a very big deal for netflix. Up 109 just this year alone. What a run. Tracy we will see you in 15 minutes. Ashley president Obama Meeting with House Republicans on capitol hill today. Rich edson on what was said or not said. Rich second day in a row he has met with democrats. Today he is meeting with House Republicans, probably his most contentious opponent as a group in a firsttime meeting with them as a whole since june of 2011. They are all discussing the Budget Proposals, paul ryan, the House Budget Committee putting out his proposal. Beginning to put out her proposal. There are differences on what you have from paul ryan. Leading to a 7 billion surplus, it assumes january tax increase is part of the budget deal and it maintains the President Health care law medicare cuts. Onto the Senate Democrats budget, it will cut deficit they said by 1. 85 trillion with equal mix of tax increases and spending cuts and preserves traditional entitlement programs, so no changes like ryan does. Republicans charge the spending in that budget is unsustainable. We should wont prevent programs like medicare from going bankrupt, we hear it contains more wasteful stimulus spending. One thing we almost certainly no. Their budget will never balance. Tracy this is a challenge, but what we should not do is take action it does harm to our economy, harm to the middle class, and only does well by the welloff and wellconnected. From here we are waiting a president obama to merge and Republican Leaders will give a press conference to let us know what it was all about. Back to you. Ashley rich edson from capitol hill, thank you very much. Tracy the fourth straight month of increases. But an expert who says this could be a bad sign for the economy. Ashley were awaiting details from the Catholic Church a new pope has been elected, white smoke has been seen above the Sistine Chapel. We should have the identity within maybe the next 45 minutes or so when the announcement will be made red in latin first. A lot of first circumstances now, fascinating to watch. And also, fascinating is how the dollar is moving right now. The euro under 130 now. We will be right back. 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All stations come over to mithis is for real this time. Step seven point two one two. Rify and lock. Command is locked. Fiveeconds. Three, two, one. Standing by for capture. The most Innovative Software on the planet. Dragon is captured. Is connecting todays leading companies to places beyond it. Siemens. Answers. Ashley breaking news for you come into the flags waving, the umbrellas as well and a very wet st. Peters square in rome. We have the election of a new pope. On the first full day of voting select and that person. We dont know who it is. We will find out in about 40 minutes, we think. They will appear on a central balcony and announced in latin. Assuming he says yes, i will take office, he will reveal what name he would like to be called. Hes also been fitted for his new robe. They have the vatican tailor ready to go and they are as we are speaking sizing up the new pope. Tracy a big holiday. Ashley very busy indeed. Tracy my son has the over under on john paul something. This is what we talk about in my house. Retail sales rose betterthanexpected 1. 1 in february if you want to call that betterthanexpected, but retail sales illustrate the decline of the middle class in this country. Joining us in studio, Kristin Bentz, executive director of pmg venture group. The decline of the middle class, how so . If you see how the performance has played out and use that as virtual proxy for the middle class, jcpenney, target and walmart. We saw the internal email from walmart. Where does all the money go about the february sales. Target announced they had negative traffic, the first time they have had negative traffic since 2009 and jcpenney is jcpenney. We have this market, highend consumers are doing well, feeling good, dying. The lowend consumers are also thriving. Dollar stores, tj maxx, but anybody in the middle is kind of out. Tracy if you dig into the numbers, one of the things was gas. Eating and drinking, all down. Meaning restaurants. If you look behind the numbers, that really tells the story the consumer is pulling back. It is not that rosie for a very long segment of the country. Tracy Hurricane Sandy rebuilding held a little bit . Vehicles had to be replaced, so that did help and obviously gasoline is gasoline, the more cost to buy, the more of it you buy. Tracy a lot of people saying the same thing happened last year in the First Quarter we held on, and the Second Quarter everybody fell off a cliff. You will. You see the paycheck and losing your job, things are costing more. Tracy we just got headlines the cfo said i am not resigning. What is your thought on that company . Ron johnson is a very lucky man. A ceo for any other retailer we would be on the beach right now. Incredibly creative man, he is doing Amazing Things thats jcpenney is not resonating with the consumer because they are targeting. Tracy he has like an apple halo over him. Where is that consumer . They just left . Like a boyfriend you ignore, he will not be there anymore. Tracy what happens to jcpenney, do they file for bankruptcy . I hope not. I dont think we have to get that extreme yet, but they are on i thin ice for a while. Tracy good stuff. Ashley coming up, waiting on the new pope. Plus, president Obama Meeting with ceos about the rising Cyber Threats. Is the president doing enough to protect americans . Tracy the dow up about 10 points right now, so look at the winners and losers on the s p 500. Netflix up about 2. 5 . We will be right back. Thank you orville and wilbur. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. [ 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 well, the world is waiting and all of the large crowd in st. Peters square. It is freezing, by the way. They dont care, theyre waiting to find out who will be the next leader of the Catholic Church with some 1. 2 billion followers around the world. We think within the next 30 minutes they will come to the balcony and make the announcement in latin. And we will have to wait for the translation. I still cant speak a word. Exciting moments actually fairly quick. Tracy much quicker than we thought. Father john morris of the chosen candidate was taken into a room of tears to see if he would accept. Ashley i love tradition. He is having his new robe made for him as we speak. The ticacan tailor fitting him. We think it will be in the next 30 minutes. The announcement will be in the next 30 minutes. Tracy we need a director. Half past the hour, lets go to the floor of the new york stock exchange. Nicole petallides standing by. Nicole very exciting time and i dont want to waste one minute of it, but we have 30 seconds, then willis. Tell us about the market. How are you feeling . Just to clarify, i am a longtime bowl. I think the market has to crack for us to get to those in the short term he gets to new highs by the end of the year. And here i am, another benedict, but i will not be the pope. Nicole another day on wall street with up arrows. Back to you. Tracy we ar were going to hava pope by 3 00, i feel it. Im waiting. Ashley do you want a glass of water or something . President Obama Meeting with ceos at the white house on Cyber Security as hackers threaten a new round of attacks and we have had plenty of those already. Peter barnes with more on this story. Peter in just about an hour from now the president will have a closed meeting with corporate ceos to discuss Cyber Security and they will meet in the white house situation room for emphasis on this issue. The white house says the president soliciting their input on how the government and the private sector can best Work Together to improve National Security. As they continue to charge china in particular with Cyber Attacks against the u. S. , government and privatesector computers. Coming as it is pushing congress to approve new Cyber Security measures among other things the president wants legislation to allow more information sharing between government intelligence agencies and corporate america. Tracy we dont expect the government to say that everybodys private network and look at everything that goes back and forth, that his responsibility that ought to fall in the private sector and hear what were looking to do is set some standards, encourage people to make investments they need to make and give them the information they need to be intelligent about the defenses. There are three separate hearings on Cyber Security in congress today. Ashley peter barnes in d. C. Thank you. Tracy the tsas new policy allowing items aboard commercial airlines, is totally sparked backslash from tsa agents and more. Tsa chief to testify on capitol hill. You were kind of annoyed about this. I was annoyed. I use it on my apples everyday, but if somebody sat down next to me on a plane, that is how big it is. It is not the james bond pen knife. You can poke somebodys eyes out with that thing. Heres how they defend themselves. They say this knife does not present a catastrophic threat to a plane, cannot bring a plane down with this because now we have the captain of the people flying the plane boarded up, they also said h say he can reln flight attendants to keep you safe. Tracy imagine if you have one f those at your throat. Tracy theyre Getting Better training, but anybody who has seen an episode of mciver does he do a whole lot with that. You can bring on a bat, you name it. Golf clubs, i dont understand it. I dont have the tape for you, unfortunately, but talk to people from nebraska, everybody agrees this is a bad idea. Tracy Louisville Slugger is a bad idea. Ashley you still cannot bring on a bottle of shampoo. That was almost nonsensical. But we dont need this. Tracy they will have a hearing on this and then what . This will be policy in a month you can get on a plane and somebody next to you can pull out one of these. Talking about it tonight. Well talk about a bill stating congress to stop this, so we will see if that will happen and you can hear from the people we talked to on the street including one woman from nebraska who is very upset about it. We can fix it all. You and me and the pope, we can fix it all. And duct tape. Tracy we are going to have a new pontiff, we can do a lot with that. Gerri willis tonight on the Fox Business Network. Ashley all right, coming up, we are awaiting the new pope. There is a huge crowd awaiting the news, he still has yet to select the name he wants to be called. Tracy you have to believe the three frontrunners were thinking about this. It is like your acceptance speech at the oscars. Ashley and guaranteeing you the biggest salary after graduation . We will tell you the results of a new study, and i dont think it is going to surprise you. Tracy venture capitalist giant tells us about his new boot camp for young entrepreneurs. This is good actually for up and comers especially out on the west coast. But first, time to check your tenure and 30year treasuries. We will be right back. Girl vo im pretty conservative. Very logical thinker. laughs im telling you right now, the girl back at home would absolutely not have taken a zip line in the jungle. screams im reallylad that girl stayed at home. Vo expedia helps 30 million travelers a month find what theyre looking for. One traveler at a time. Expedia. Find yours. Apple ceo tim cook will testify in a government lawsuit against the tech giant over alleged pricefixing. A District Court judge granted the Justice Department request telling cook to testify. And stock certificates could soon be a thing of the past. According to wall street journal reporting that trust and Clearing Company will petition the fcc to create a rule restricting companies from issuing stock certificates. With march madness tipping off next week, companies can start preparing for a drop in productivity. Coming as no surprise. Nearly one third of employees will spend at least three hours each workday watching the game. That is the latest from the Fox Business Network giving you the power to prosper. Ashley welcome back, everybody. All eyes on the balcony overlooking st. Peters square. In a short time, maybe within the next 20 minutes or so, we expect the Catholic Church official to come out and announce the new pope has been elected and will read that name in latin and sometime after that we are not sure that that person will come out and greet the crowd in rome. The white smoke going up about 45 minutes ago. The new cheers from the crowd that had assembled there at the vatican. The newly elected pope goes through a series of traditional steps which he will then come out on the balcony. Despite being a miserable weather wise in rome. Tracy he will say his first mass tomorrow. A big catholic holiday coming up on march 18. And just in time for holy week. I care, new colorado study shows the best investments for college kids may not be a traditional four year degree which makes me want to puke because im saving for that, but a twoyear degree. An Associates Degree in Applied Sciences paid more than other degrees. It is important to know at the height of the last session of oo madrid for College Grads with bachelors degrees or higher never topped 5. 1 . Did you bring that line home for my kids. Statistics show a bachelors degree boost your earning power. Average income for a college grad was 48,309 in 2011 nearly doubling almost 27,000 income somebody with a High School Diploma has. So there is still very good reason to go to college. Ashley absolutely there is. Traveling covering the euro zone debt crisis, a lot of the youngsters and the kids in school and in college, they are very upset their learning subjects that are not doing any good when they get to the real world. The talk of a twoyear degree in a field very much in demand is the way to go. A call for the change in curriculum around the world. Tracy you wonder if it is shortterm thinking. He still wants to be needed, dont you . It falls on the colleges to change the curriculum. Maybe theology should be off of the curriculum. Time for stocks as we do every 15 minutes. Nicole petallides on the floor of the exchange. We still dont have a name. Nicole that is right. Talking about what is going on on wall street. Holding onto a green arrow, we will see whether or not we have another recordsetting day at the closing bell. In the up arrow will be another closing record. I wanted to talk about the airlines briefly. We are seeing some of the airlines hitting 52week highs again. Jetblue for example, we are seeing Southwest Airlines to give you a glimpse. The bank index looking good, the drug index pushing back, the dollar is very strong, oil and gold with down arrows but ultimately what a run we have had on wall street and you heard ben willis for the near term, but the sentiment is as we were wrapping up the First Quarter, we will go out throughout the year and most of the guys and we will be setting records throughout the end of the year and we will finish higher. Back to you. Tracy thank you, nicole. We will see you at the top of the hour. Ashley he has the midas touch, now a venture capitalist tim draper taking an education in a big way and he joins us next. Tracy as we are still watching st. Peters square, look at the winners and losers as we head out to break. Tracy we have some breaking news. About a minute after 2 00 on the east coast we saw white smoke coming out of the Sistine Chapel. 115 cardinals chose the next pope. It could be any minute to see the next pope, not the balcony, his name will be announced in latin first. People from all of th over the d have been outside waiting. 46 degrees, pouriig, waiting to hear who the new leader of the Catholic Church will be, 1. 2 billion catholics waiting at this moment. We celebrated st. Josephs growing up. It is exciting stuff. Ashley and what he is going to be called. We have a close eye on it, as you can see. Our next guest is a venture capitalist heavyweight who invested early in Companies Like skype and hotmail and kessler. He is looking to transform an eightweek boot camp for entrepreneurs as we look at more pictures from rome, tim draper joins us now. Thank you so much for joining us. I want to get right to it. You are going to a boot camp for entrepreneurs. Your first session is an eightweek course, beginning on april 17. What are you doing this and what did the students get out of it . I have always been told entrepreneurship cant be taught. So whenever anybody tells me it cant be done, i think how could it be done . So we are looking for students 1827, in that range, who have not real spark, that extra little thing that they know what they were put on the earth for, they know it was more than just sitting in a classroom listening to a professor drone on. Ashley obviously venture capitals, they want to be entrepreneurs, will they learn how to pitch . I noticed our weapons training, economic survival with. Entrepreneurship is a bit of a survival job. A job where you dont know what you will be hit with. So we have survival training, we change the rules to regain, both teams served at the same time. We give them instructions in cooking and yoga and a whole variety of other courses as well as basic business training. Rather than teaching history and how historic businesses operated, we are teaching future, the future of energy, transportation, medicine, technology. We are than teaching marketing and how those are going to evolve. And so by focusing on the future, turns out we hit a nerve, an awful lot of schools whose headmasters and heads of school have come to us and said how are you doing this . We really did transform the lives in the pilot and we hope to transform many more. Ashley it is 7500 for the course. Do they have any options as far as being able to get into the course . A good entrepreneur always realizes where there is a will, there is a way. They can figure out how to get 7500. If they cant admit they have something to offer, they can make me an offer. We have a racecar driver who said she would put a University Shield on the hood of her car. I thought okay, that is a good trade. Ashley at the end of the course they get an opportunity to pitch their product, their ideas to venture capitalists . Yes. We have a panel of venture capitalists and have a twominute recitation. A lot of the work focused on this very focused two minutes presentation, an elevator pitch to a panel of very good venture capitalist and a lot of them also went back to school or got jobs or whatever. Four of them in the pilot got funding for the idea and presentation he made to that pencipanel of venture capitalis. Ashley tim draper, thank you so much for joining us and i would love to followup on how the classes go and what comes out of them. Thank you so much. Thank you for having me. Tracy an opportunity for kids. You have been watching st. Peters square. We are awaiting the announcement of the name of the new pope. We saw the white smoke about 2 2 05 eastern standard time. After their first full day of voting have selected someone. 1. 2 billion catholics await to hear the name of the man who will lead them basically because the church has pretty much gone astraa. Being fitted for his new outfits now. The taylor comes into the side and thicken properly. He will say master the cardinals tomorrow and the big inauguration march 18, st. Josephs, that is the inauguration fittingly so. Ashley this has all happened rather quickly. There was a conjecture there was a division among the cardinals, but apparently not. They have chosen their candidate asked if he wants to be the new pope and assuming he says yes, he is then asked what name would you want to go by and the whole process begins. We are expecting in the next five minutes or less, Church Official will come to the central balcony at st. Peters square making the announcement in latin, and shortly thereafter expecting the newly elected pope to come to the balcony for his very first unveiling. Tracy a lot of people were buried this would drag on. Holy week coming up, everybody needed a pope in place. Certainly we will have one, he will be around to do it. Ashley a lot of people say it will be another italian pope or perhaps somebody from south america or timothy dolan, the much loved cardinal from new york although considered