Transcripts For FBC Markets Now 20131202 : comparemela.com

FBC Markets Now December 2, 2013

And football, we will talk some football, baby. Connell auburn, alabama. Dagen have to hate alabama. Connell all that coming up. The market, drones, you name it. Dagen can be discussed Nicole Petallides for this with what is moving today, nicole. Nicole eight straight gains. We are looking at the dow in particular, that has been up over 3 . 16,060, so it is down 26 points. The nasdaq and the ssp have up arrows barely squeezing out some gains at the moment. We got in some data which helped to trim the losses, but the trading range remains very narrow. In a 55 points, but wanted to take a look quickly at some names hitting 52week highs. Names you know including microsoft, nike and american express. Nike the best performer of the three up about 60 , but as regards the holidays is fun to look at some of these movers and some making new highs. Connell the Obama Administration say it met its goal of a healthcare. Gov work for the majority of users, but the problem is some of these Insurance Companies and states are looking for alternatives. Dagen it seems to work on the front end but not on the back end like getting your information to the Insurance Company will give you the insurance. More on this developing story. You got it. Health insurance Officials Say that systems still have problems despite report from officials yesterday touting big improvements, hhs send the tech experts fixed 400 Software Bugs adding 12 huge servers to help handle the traffic last friday. With this is a website can handle 50,000 simultaneous users per hour were 800,000 users per day. They say the website is up and now more than 90 of the time compared 40 earlier in november. And all of this means the administration has met its goal of making the site work the vast majority of users. The bottom line, healthcare. Gov on december 1 is night and day from where it was on now to be clear, they likely will be times even with this increase capacity increase capacity will not be sufficient to handle peak demands. Health Insurance Companies in the systems ability to verify User Identity and accurately transmit enrollment data to them the socalled 834 data is not functioning properly many, many customers still will not be able to enroll and get insurance. The president of Americas Health insurance plans said in a statement the significant back end issues must also be resolved to measure coverage can begin on january 1, 2014. The ongoing problems with processing enrollment files needs to be fixed. The wall street journal reports the problems have got some insurers that at least one state working on ways to bypass the federal system to enroll customers directly. Dagen thank you so much for that report in. Lesbian former white house chief of staff. I know you are happy this is not on your shoulders. It is not funny, but we have less than a month left for people to sign up for insurance, many people have lost their insurance, they could be left without coverage, could the white house or is the white house shaking in its boots . First of all i hope theyre paying attention to what is happening in the real world. This is not just about a website, but the public understanding what is happening. They dont know what to do. They are frustrated, and the white house has bigger problems than just does the website work. Im glad it is working better than it was before. There is a lot that needs to be done, and i am worried theyre going to put middleclass americans in a position where theyre all confused as the deadline happens overnight. And then people will be troubled by it. Where do i go, what do i do. They are not empathetic with the challenges of real americans and i want them to show some empathy and give a little more time for people to comply with this very confusing law. Dagen this is going to fall on the shoulders of those in the white house and the administration. I have people that left, right, in the middle, friends, people i know, acquaintances calling me on the phone, they have lost their insurance, they are trying to sign up, they cant, they dont know what to do. Does the white house need to be communicating with them more directly, and what will they do for those people who are uninsured come january 2 . That is the problem. I dont want the white house to be disconnected with what is happening in the marketplace. What is happening in the world. It is about lives being impacted, young men and women who wants to do the right thing but they dont know what to do and families losing insurance, businesses that dont know what it will mean for them down the road. This is bigger than this week or next week, it is a problem of confidence that dont think the president has done a lot to earn back the good word that he should be giving. Do people still trust him . I dont think they do. That is a presence problems speaking with the truth has been addressed. Dagen theyre kind of stuck because you cant go out and talk about something that isnt yet fixed. If you are a politician you dont want to highlight where there are still holes in the system, it is almost unattainable situation for them. Usually wants to manage expectations. They did not manage expectations well. I dont think they tried to manage expectations in a limited way on this website right now, and maybe they are meeting expectations. If you compare to the private sector, it is woefully in inadequate. Im talking about affectations of insurance. Witty million americans go to get insurance, to the gets to keep the insurers they want to have when the president said it would be able to, can i keep their doctor when they were told they would be able to keep their doctor, and why does the deadline need to be when it is, why cant you extended . He has a lot on his plate. That goes with the job of being president. But be up front with the American People and let them know the challenges. Try to help understand other people dont know what is happening. Manage those expectations. Dagen thank you so much, i hope your holidays great. Be well. Connell lets go to our guests now. He is most worried about a bubble in the u. S. Stock market. Joined from minneapolis with a senior Portfolio Manager overseeing 4 billion. And people do these interviews where people like me try to pin them down and say is there a bubble here, a bubble there . Last time he was on talk real estate mentioned he was worried about san francisco, vegas, targets that have run up. He says the boom in the u. S. Stock market makes me most worried. Is it your area of expertise, the bond market or someplace else . He is write right to point oe exuberance in the equity market. We have seen that even in the bond market in terms of how to have been moving around this year. We have not seen a great rotation, per se out of bonds into stocks. Resident rotation into bond sectors that are more correlated with the equity markets we have seen inflows into sectors like highyield bank loans and Corporate Bonds and from interestrate sensitive sectors. The risk that poses is investors are essentially taking out the traditional shock absorbers in their portfolio. Connell we always try to categorize the potential bubbles in one area of the Financial Market where in reality these things are intertwined. If something were to go wrong, maybe there is a trigger but probably affects all of the markets. How do you see this playing out, are you in the bubble bandwagon is such a thing exists, or is it getting overdone right now . It may be overdone. The fundamentals in the economy justify the equity and well. It is hard to correlate with the sluggish growth we continue to see. Outside of that the asset purchases by the fed and aggressive Monetary Policy we have seen serves the purpose of inflating risk premiums and essentially causing them to tighten places they wouldnt otherwise be. I dont think that is just an equity or fixed income issue. All sectors will be affected if that begins to unwind. Connell one of the big stories no doubt its going to be one type of Federal Reserve will generate yellen oversee and willie Federal Reserve as to this risk or take away from it. What is your view . From a market perspective it is all about expectations, and the expectations are already in the price of fed is going to taper. We think the fed essentially already tapered this summer, so if you look back to announcements when the fed announced aggressive asset purchases, Interest Rates began to rise after that announcement. We would not be surprised to see riverreverse happen as the fed announces tapering of quantitative easing in the next couple of meetings. Connell we will have bob shiller back and ask if there is a bubble. Thank you for coming on. Thank you. Dagen showing off the future of package delivery. Drones. Connell will talk about that coming up. Now fast food workers across the country set to protest over the minimum wage. We will talk about that big economic issue. Dagen and who are the biggest self getters . Women or men . You know the answer already. Take a look at oil as we go to break. In todays markets, a lot can happen in a second. With fidelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of fidelity invements. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. [ male announcer ] the parking lot helps by letting us know whos coming. The carts keep everyone on the right track. The power tools iroduce themselves. All the bits and bulbs keep themselves stocked. And the doors even handle the checkout so we can work on that thing thats stuck in the thing. [ female announcer ] today, cisco is connecting the internet of everything. So everyone goes home happy. Connell are you into this cyber monday . Dagen full online shopping. Connell we are going to look at some of the Online Retailers to see how stocks are doing. In reaction to the commentary. Nicole everybody gets online, there are so many deals day in and day out. We have to focus on these guys, ebay and up arrow. Today is cyber monday, the famous day were everybody goes online to get the best deals. Are you shopping right now . National Retail Federation predicting 131 million americans shopping online today, and that actually beats last year. Over the shopping Holiday Weekend you didnt see the brickandmortar stores doing as well as anticipated on the contrary, it is all about shopping online. Amazon hit a new high 399, but you can see overall the group is mixed. Connell lets pick up on amazon because a lot of buzz about that story after im 60 minutes. The record high earlier on cyber monday. But really the story on 60 minutes last night, the ceo rolling out what he sees as the future of delivery. The unmanned drones fly around with whatever you ordered on amazon. Taking packages to your doorstep using gps saying it is technology that is still years away. Here it is. This think that lenin somebodys head Walking Around their neighborhood. Dont why am i to this is around the corner. This is years of additional work. I am an optimist, not copy before 2015 because that is the earliest we could get the rules from the faa. My guess is that is optimistic. Connell the other thing they talk about was the Cloud Computing amazon is investing so much in. Even the cia. But as i said earlier, twitter was buzzing like crazy as he and she was going on. A lot of people, commercial for amazon, not exactly hardhitting, but it is cool the matter how you at it. Dagen their use now, do aerial vision of properties. The uses are potentially limitless and arent we happy there is a visionary or many visionaries who still live and work . Connell did a story using a lot of these drones to transport medicine in those type of things to places it is hard to get. This is kind of cool the ad dagen i love rich men with big brains. Connell thank you very much. It is just a money issue. With all the deals and bargains it is no secret shoppers are probably throwing in a gift or two for themselves. More than half of Holiday Shoppers claim to spend a gift on themselves on average. According to a survey when it comes to these self gifting practices, men are the secret shoppers. Men are 43 more likely than women to hide the gift to themselves. One heart 30 are likely to claim it is from somebody else and 118 more likely to create an emergency friend rather than on up to the purchase. Connell they dont want to admit they actually bought a gift for themselves. Dagen waited that long more come from . Dagen i dont know, my friend, phil, gave it to me. Connell this debate going on around the country about minimum wage again because of the fast food stories. Dagen the stock hits an alltime high, and shipping more packages today than ever in its history. Every day were working to be an Even Better Company and to keep our commitments. And weve made a big commitment to america. Bp supports nearly 250,000 jobs here. Through all of our energy operations, we invest more in the u. S. Than any other place in the world. Inact, weve invested over 55 billion here in the last five years making bp americas Largest Energy investor. Our commitment has never been stronger. And our networks are getting crowded. T if congress, the fcc, and the Administration Free up. More licensed wireless spectm, we can empower more. People to novate, create new technoloes and jobs. And strengthen the economy. America is the worlds leader in wireless. Free up linsed spectrum today, so wireless. Lets keep it that way. Can do more foamerica tomorrow. 23 minutes past the hour, im lauren green with a fox news minutes. The second data recorder recovered from the scene of the deadly Train Derailment in new york city that killed four and injured more than 60. National Transportation Safety board space to conduct interviews today or tomorrow with the engineer and the conductor. Readers of the house and Senate Intelligence Committee Said the terrorism threat against the United States is increasing and americans are not as safe as they were a year or two ago. Diane feinstein said there are more terrorist groups than ever and mike rogers says that is putting more pressure on u. S. Intelligence services. And lawyers for Lindsay Lohan reportedly are building a lawsuit against the lawmakers of the makers of the grand theft auto v videogame. Tmz is reporting actress believes her license was used without her permission. Unclear o the image was intended to be the actress. Those are your News Headlines on the Fox Business Network. Now back to dagen and connell. Poor lindsay. Dagen somebody with no acting career and too many lawyers on their hands. You have some money on your hands . Charles payne following up on last weeks recommendation of ebay. Connell all over this one. Charles we talked about it on wednesday because even coming in before the hype and the holiday stuff, november trends looking pretty good. 13 , 8 , 13 , and the last week in november 32 . Today the wind in their sales, everybody saying online, online, ebay. A point you can still chase it. I listen to you about the cyber monday hype, it is more or less hype. Dagen it was created by the retailers, a day they could have something to talk about. Charles that is what you do. You say black friday, people say where will i spend my money. But we do, what we saw this weekend the clear winner was online, that is the moment, we will probably see. Up a little bit more, i still think it is worth a shot. A forgotten name of all of these. Near the alltime high, priceline and google. Paypal is pretty good, making a whole lot of money. I got mixed reactions. I love the idea of it, i do believe somebody thought of it before, but there will come a point we will talk about this on the 1 00 special zones in our life called blue skies. That is the price of progress, i guess. Connell absolutely. Charles going currently work for them i thought was paypal. That would have been done. Dagen planning protests and strikes over minimum wages in america. Connell next debate coming up, and then there is fedex ramping up for the holiday rush. The stock one of the high flyers as well. And how about some winners on the s p 500. Hi honey, did you get e toaster cozy . Yep. Got all the cozies. [ grandma ] with n fedex one rate, i could ll a box and ship it r one flat rate. So i kn untilt was full. Youd be crazy not to. Is tt nana . [ male announcer ] fedex one rate. Simple, flat rate shipping with the reliability of fedex. Wow. Look at you. I always tried to give it my best shot. 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