Transcripts For FBC Markets Now 20130131 : comparemela.com

Transcripts For FBC Markets Now 20130131

Charles no. Blackberry becomes interesting at ten. Stuart dagen and connell, it is yours. Dagen the senate set to pass the bandaid bill pushing the debt to may. Dan hedger says it is just another example of oval Office Bullying speed. Byebye meantime to the president s job counsel. A new study out shows that one of them like this could said one third of American Families into poverty. Dagen the oil market on ice. Reports are israel is launching airstrikes into syria. Connell the new energy markets. If you want to know where the jobs are, this will be one place you should look. Dagen looking good. Not you. Top of the hour, stocks now. Nicole lets start off with the Dow Jones Industrials. Down about 11 points right now. Just below that 13,900 mark. We got very close to the 1400 mark. We were about 31 points away, if i recall correctly. The nasdaq is off today. Up two points. We have talked about some names that are weighing them down. Bank of america and cocacola with pressure. Qualcomm has new highs. Ninemonth highs. They came out with their quarterly reports. They talked about profit they talked about revenue. The outlook looking good. You had ubs raising the price target. They had a buy rating. The stock is up 5 . Connell thank you. Dagen the senate set to vote on the debt bill. Connell we have rich edson on capitol hill. Rich the senate is increasing a debt in the ceiling. That would allow spending through may 18. They can push that date even further into the summer. The debt ceiling moves out of the way for fight over Government Spending. It has already started. Clearly, it is the spending that we have to deal. Now is the perfect time to do so. The key to a robust recovery is to create jobs and grow. It is something that we know. We understand that. There is more to making our recall of an economy. Rich if any of the amendments pass, the bill then heads back to the house. The senate will very likely said this bill to the president s desk this evening. The sequester beginning in march in a large portion of Government Authority running out march 7. If they fail to reach a spending puma we will have another government shutdown. Back to you. Connell lets bring in band manager. Lets bring in dan and. The president is a bully. Is that what that means . Clearly, john boehner is now understanding that what is going on is he is in the thunder dome. Rather than in a goodfaith negotiation with the president. I am so glad, dagen, in your introduction 450 at least twice. 450 billion is incomprehensible. The democrats are arguing that the to spend this money because they feel that with the economy weak public spending will lift the economy. Every dime spent will raise the economy a dollar 0. 50. The republicans are arguing that rather than say spend lets talk about this the questionnaire. Rather than spend that 69 billion, lets take it and put that 69 billion back in the private economy where it will be used more productively and more efficiently. In other words, we are kind of talking about two economies. That is what this spending argument is all about. Which economy gets the money. Dagen the democrats seem to have it both ways. You have jay carney blaming the gop. Then, it seems to give the democrats ammunition that very economic weakness for more Government Spending. It was a dropoff in Government Spending that caused the economy to contract in the fourth quarter. Well, that is right. Dagen they can have it both ways is what i am saying. Once again, you could get democratic economist on this program roundtheclock and they will all say the same thing. We have to stimulate the economy with public spending. Public spending pours money into the economy and causes consumer demand to rise. Republicans are trying to save the more efficient way to do that is to leave money in the private hands, private businesses, private economy. There has been no evidence over the last four years, there has been tremendous public spending the last four years, that that has raised the economy. Where is the success in their theory . Connell to go back to the earlier point on why we had a contraction, wasnt it because military spending pullback . That was the reason given. The recession ended in early 2009. After a recession, you should have a growth rate of four, five, even 6 . We had 2 for four years. Dagen you have made a clear argument and laid out the private economy hearses the public economy. They are fighting back against the president. That is failing. What do you make of that . It is a big problem. They will stand there and cindy talk about spending. You are not going to hear Mitch Mcconnell say certain things that i just said. They simply relate it to washingtons problem, the budget, the deficit. They want to know what the republicans will do to help them. Just talking about the beltway spending problems does not quite convinced them that they need to, you know, take these measures. Connell dan, thank you as always. Dagen next time, we fight till the deathbed. I promise. Strong storms reaching habit from the midwest to the southeast. Now settling into the northeast. High wind, torrential rain even tornadoes being reported over large parts of this country. Are we financially prepared for that . Almost one third of americans have no savings account at all. This according to the corporation for Enterprise Development. 44 of american households are only one emergency away from financial ruin. They do not have savings to cover basic Living Expenses for three month if they were to suddenly fall ill or lose their job. Some bad news at the pump. Especially it lived out in california. Crude oils are now spiking. With refineries soon switching over to costlier summer gasolines, golden state voters could see four dollars a gallon very soon. The National Average is always 0. 42 a gallon. That is up from 3. 29 just a month ago. Connell looking for a job . How about the oil industry. Ill oil and gas industry has a complaint, it is that they cannot hire qualified workers fast enough. The system around here is stringing to try to meet that demand. There are 20 trade schools and Community Colleges in the region. For those i can get into these programs, the training is free. It is an opportunity that they are giving a lot of people that are not employed a chance to, you know cant get back into the workforce. I think that if you do not have a job, this is a class you should be looking into taking. These slots in these training programs, in these schools, are limited. The competition is extraordinarily high. Natural Gas Companies are also telling us that they are looking for people with an array of working skills. One of the things that is interesting is we have about a seven or 8 unemployment rate. Help wanted signs are everywhere. I have not understood that. In the oil fields, that true also. In some cases it is because of the cdl license. If you can get a trucking license, you can make 60,000 a year. The medium Family Income is less than 40,000. If you have an engineering degree, you can start off, right after school, off at 90,000 a year. They are hiring. They are paying. They are scrambling to fill slots. Back to you. Dagen thank you so much, steve. More on that bad weather across the nation. Connell also, Charles Payne will be in here. Charles has a stock he says you could buy on cheap. There it is. Juniper networks. He will tell you why it is worth looking at. Dagen in airstrike launched by israel along the syria lebanon border. Take a look at oil prices. Lincroft and k. T. 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Right now they are waiting for more news. This is all on the news that either bush had filed antitrust lawsuits to block the merger in washington courts. That may move forward. Constellation brands is directly correlated to this deal. With that, it is selling off. They had to hold it again. More news pending. This was not because of the volatility and the big selloff. Now, it says news pending. There may be more news on this. We will continue to follow it. Dagen thank you. Connell just like the old days. A big crowd at the New York Stock Exchange. Lets bring in Charles Payne. We dont always do this, we gave away his stock before the break. Charles i always ask people Something Like this could happen occasionally. Reported earnings that was a phenomenal number. I started doing my research. I always do a peer to peer review. The things i was impressed about with them, i was more impressed with juniper. I love that they are still spending a lot of money on research. They will continue to take market share. I think a lot of that is going from cisco. Juniper has better margins. Significantly better. All of a sudden, i am saying, what the heck. Juniper is doing more research. I am looking at it to double top at 25. You remember the good old days. Connell we always get on you for bringing up this type of stuff. Charles they beat the street every quarter. 20 better. Sometimes i think that dark shadow from 2000 still angers some of these stocks. Connell thank you, charles. Increased tension in the middle east has no oil market paying at least attempted to it. You have iran and syria both say they plan to respond to the israeli airstrikes. Dagen and the jobs counsel away. What can happen between ceo and president obama . Why get rid of it now . Look at how the world currencies are faring against the dollar today. [ 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. Maybe you want to incorporate a business. Orrotect your family with a will or living trust. And youd like the help of an attorney. At legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. Get started at legalzoom. Com today. And now youre protected. At 23 minutes past the hour, i have your fox news and it. Syria threatening to retaliate. U. S. Officials say they struck a convoy. s israel says israel hit a military research set. Former gop senator chuck hagel is before the Senate Armed Service committee. He is telling people not to write him off base on earlier comments about israel and iran. If confirmed, he would be the first veteran to serve as defense secretary. Negotiators in contact with the suspect who is a retired truck driver holding a 5yearold blake inside and underground bunker. The man grabbed a boy off of a school bus on tuesday after shooting and killing the bus driver. Those are your headlines. Dagen thank you, greg. Connell violent storms ripping through the southwest. Reports of tornadoes in six different states. Dagen crazy would be a word to describe it. Extreme. We are dealing with temperature drops in some cases from tuesday to saturday at 60 degrees. The incredible work for the gulf of mexico is what is fueling new storms. This is what we typically see at the end of april. Two tornadoes were enough to in kentucky. Speaking of that wind, the storm is moving across the south east. We have seen hurricane wind gusts. You can bet that we will have delays across the airports in the northeast. There are your wind gusts right now. Fortyfour in nantucket. Philadelphia 52. We will still be left with those wins throughout the day. 30 degrees drop. 22 degrees in chicago. Extremely cold across the northern plains, upper west. We are back to winter. Back to you. Connell you are right. Extreme. Dagen i saw that tweet about the temperature drop in chicago. It is bananas. They broke a record. It will be 3 degrees tomorrow in chicago. Extreme weirdness. Dagen unbelievable. Thank you so much. These guys could not get it done. We need jobs in the country, but the president s job counsel is going away. Connell that is it. It is done. We will talk more about the airstrikes in the middle east. What this conflict means that if anything, for the oil market. Right now, lets go to the stock market with some of your winners on the s p 500. Twins. I didnt see them coming. I have obligations. Cute obligations, but obligations. I need to rethink the core of my portfolio. What i reallneed is sleep. 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Now i will bring you something salacious. Hersheys. They came out with their earnings. Great revenues. Sales looked great. Stocks hit an alltime high. Back to you. Dagen more now on the president decision to shut down the council. Look no further than the president this interest in learning lessons from actual job graders. Whether it joined the group or the president treated his jobs counsel as more of a nuisance than being able to spur job creation. Senator, good of you to be here. What does this say about the white house and the effort to create jobs by disbanding the jobs counsel . I was a businessman myself for 25 years. I had my own company. Last year i spent a lot of time talking to businesses all over south carolina. The president did not like what these Business People were telling him. They told me that they were pulling back on their plans because of the uncertainty of doddfrank, obamacare cause, tax increases, the president has spent more on economic stimulus and borrow more money than any president in history. His policies are not working and he does not like what Business People are telling him. Dagen we talked about this earlier in the show. You look at what happened in the economy during the fourth quarter. We had a contraction if you are on the other side of the aisle dont you look at that and say, hey that is a very reason that the government needs to keep spending money. If that helps our economy, we would have the best economy in history. There were no spending cuts in the fourth quarter. We have not executed as a cluster yet. Companies did begin to pull back. Dagen one that they are looking for is more infrastructure spending. We have heard that over and over again. Why wont the white house get that . Dagen, it is a different philosophy. The president and his party believe that the government is the central player in our economy. We talk about cutting spending, they think that hurts the economy. That

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