Transcripts For FBC Markets Now 20130307 : comparemela.com

Transcripts For FBC Markets Now 20130307

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 repu

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