Jobless rates down. 7. 7 . New jobs created, 236,000. Lets bring in austan goolsbee, he knows a few things about the economy. Job creation and the Unemployment Rate. Austan, welcome back, good to see you, sir. Thanks for having me back. Stuart ive characterized the job creation part of the report as solid. Weve got all the numbers. Will you give us a characterization, too . I agree with you. I think solid is the right description. You know, its not overwhelmingly good, but its definitely a positive. Now, right before the break, it sounded like you were saying that the sequester cuts caused this. I think if you look, that this is a february too place before the sequester cuts and i think the magical cuts start working before they take place. Stuart youve expressed on Varney Company if you cut Government Spending you improve the economy, you dont waste the economy. And i agree with you. Those cuts hadnt started. The jobs numbers start going down, i think people are going to start saying these cuts are having the kind of austerity effects theyre having this europe. Stuart okay, well, thats a separate argument and well get to it. Im sure well get to it next month, austan and i look forward to it. Let me give you some of my perspective. There are still today 3 million fewer jobs than there were in 2007. So im saying, look, were recovering, but ever so gradually and its nowhere near good enough yet. Your comments. I somewhat concur with that. Now, you want to be a little careful because you know the population has aged some gradually, but if youre going to compare four or five years ago, the number of employed people is influenced by how many people retire, but i think at the weakest part of the job market which you have highlighted in the past is the labor force participation, that there have been a lot of people who dropped out of the labor force. And though you saw some significant job additions today, you also saw some more people drop out of the labor force. So, i think thats the weak part. I think the strongest part is that youre seeing fairly robust job growth for how modest the overall growth rate has been. You know, if the economy is growing 2 1 2 , thats okay, but not great. And to be able to add 200 plus thousand jobs a month when growth is in that moderate kind of range, i think thats a positive. Stuart and here is what really not angers, but grates on many of our viewers, weve spent a ton of money and in the last four years weve laid out the governments money, stimulus programs and increases in Government Spending and we havent got mmch for it. Weve still got an Unemployment Rate well above 7 1 2 and weve acquired a massive debt. A lot of people are telling me, look, its not been worth it. Weve spent a lot of money and we havent gotten value for money in terms of Economic Growth and unemployment. How do you answer that one . Well, you know, the first thing id say is the main thing that, at the end of the Bush Administration and the beginning of the Obama Administration that everyone was trying to do, is prevent the next great depression, which we were teetering on the edge of and we did not have a depression. People should just take a step back and recognize what an important commishment that was. As regards to stimulus and the bang for the buck of the stimulus money, remember, the stimulus money is now gone from the economy, that was a temporary phenomenon, that it went up in 09 and 10 and started coming down in 11 and 12 virtually gone and 2013 thats not look, we can argue all day long about did the stimulus work, and how did it it do . Weve got a ton of debt and slow growth and the economy. Ive got Charles Payne with me, hes going to get into this. Are we at the point, would you suspect the administration is confident enough and the American Economy the way its built, to step away and let it gain some momentum right now at this point. Theres no more stimulus, no more intervention, take the training wheels off and lets see where the baby can go. Well, guys, get the last congressional budget report. And shows that over the last 12 months, the Government Spending is shrinking at the fastest rate in 50 years. Thats exactly whats happening. Because all of that stimulus is phasing off, so its contribution is negative to growth. Its not even zero. So, the shrinking of government is taking place. Stuart, what you failed to mention and what we must remember is that every time you have a down turn, the deficit explodes. Its before obama came into office the Congressional Budget Office was forecasting the deficit would be well over a trillion dollars just based on the economic condition. Weve got to think about fiscal i just go back to 2009 when president obama first came in, he was forecasting an Unemployment Rate that were way down there at 6 , that we would have a deficit of a half trillion dollars. Its just and a growth rate, by the way over 4 1 2 . It just hasnt happened. We can argue all day long about why it didnt happen, but it didnt happen. Youre taking the fork made at the end of 2008. Stuart 30 seconds. And Everybody Knows it wasnt just the Obama Administration that was mistaken in the forecast. All the private sector forecasts were far too optimistic at that time. Stuart you know what its like, im sorry, i hate to cut you off, but look, a hard break, got to go. Come and see us next month. Thanks very much. Three days in a row, three records for the dow and all the indicators are that we will open higher again today. And you can watch it live happening here on the opening bell. About three minutes away. Ive got 20 seconds until the opening bell. I want more commentary on this jobs report. So lets bring in scott in chicago. 236,000 new jobs, do you think that the private sector is finally off to the races . No, its good news, but we definitely cant take the training wheels off yet. That shows the resilience of american corporations and the consumer. Thats post fiscal cliff and its presequester. Its a pretty good number for that, but were nowhere near being able to take the training wheels off. Im sorry were so short, scott. We love you, but the opening bell, its ringing. We are starting to trade and were going to go up right from the getgo everybody. Were up 24 points now and expecting a gain of 70, maybe 80 points in the first couple of minutes of trading and may well take us to the 14,400 level. Lets break it down. I want your attention, day traders, this is for you, you love it, watch it move. Pandora, good profits. The money is pouring in and the chief executive joe kennedy is announcing hes stepping down after nearly ten years on the the job. It is a webbased radio service, where is pandora . Look at that, everybody, 23 higher. Read it and weep, charles. You didnt recommend it. Pandora up 24 and counting. Lets get to nicole. I know youre on facebook because they redesigned the news feed and investors apparently like it. Tell me. And read it and weep, poor Charles Payne. Lets have a look here, and facebook, we talk about theyre doing the whole new look and dividing several tabs, photo tabs, music tabs, but the stock is 28. 30, where it isnt is the ipo price of 38, but okay. Stuart well, it went up yesterday and i thought that people liked the new design. And now, this morning, its down about the same amount. I want to move on to google. Cutting 1200 jobs from the Motorola Mobility division. Tell me where google is now. Google is slightly higher. And 14,400 i saw we were at 14,399. And google, obviously, has been hitting alltime record highs, but cutting on the motorola division and were seeing it were bee lo 14,400. There you go, 14,405. You know, you have to call it like a horse race this week. You know, its it up, its down, its up three days in a record a record. And were at 144, who would have thunk. And regulators released details of the battery fire on the 787 dreamliners, and didnt reveal what caused the fire in the the first place. Look the at it now, the dreamliner remains grounded, but boeing stock, again, its up 81 now on boeing. 62 cents higher as we speak. Mcdonalds, sales coming in, well, better than expected, but still down, i think, in the u. S. , same store down 3 , but the stock is up, nicole . Well, a couple of things factored in here and were seeing the stock up 1 1 2 for this dow component, mcdonalds. The global sales did fall 1. 5 , less than feared and they also factored in extra for the way they did the comps. Europe was still not so great. But the dollar menu is back in the United States and that bodes well for them and the famous mcrib, which i have never had, but clearly, i need to, because they moved the date up on that and that helped their numbers a little bit as well. Very popular. Im a dollar menu fan and Everybody Knows it and its the best value in fast food in the United States of america. In my personal opinion, okay . Thats it. Thank you, nicole, the dow is up 9, 14408, its a horse race, everybody. Lets not forget oil and gas, however. Check out oil 91 a barrel not much movement. Average for gal. Down at 3. 71, it was down a fraction overnight. Listen to this for a second, ive the got a new report from citi that says that current consumption levels, at current consumption levels, we will exhaust our current oil reserves worldwide by 2039. And 37 trillion dollars needs to be invested in energy between now and 2035 to affect its growth, especially in emerging economies. Hold on a second, that seems incredible to me. Out of oil by 2039 . Juss so happens that we have a man here who knows what hes talking about. Bjorn lundberg, the environmentalist that we love is is here. Thats bizarre, weve been running out of oil by 2010 when they came out and said we have ten more years of oil and 40 years, every years and maybe 50 years now, well keep having lots of oil because technology finds more as we use up the hundreds of billions of barrels of oil in Northern California alone if you frack the shale. The new technology. Stuart we have he got a frack. Stay there, bjorn. The state Department Says that oil from canada that would head south on the keystone pipeline, it would contribute 0. 01 of global emissions, in other words, virtually nothing, however, actress and activist daryl hannah, she was on our show this week, she didnt want to hear about the state department report. Listen to this. The state Department Says that those tar sands contribute 0. 01 of global emissions. Take the paper crumble it up and throw it away. Stuart you always say. Not always say it. Stuart your position, you would say its a lie. Thats not true. Stuart are tle lying. . This case, yes. Stuart oh, a lie. Bjo bjorn, youre still here. Youre a reasonable environmentalist, i think were dealing with irrational people opposing the pipeline, what say you . A lot of people are saying we should cut down, i use the term fossil fuels and i understand that argument. I think in the long run, thats the way to go, but trying to cut off the consumption by saying we dont want this pipeline, its not like the oil is not going out. If anything, canada will probably ship it to british columbia. So fundamentally, this oil is going to get out. This oil can help our recovery now, it can help the Economic Growth now. What you have to do is not tell people, you cant have the oil, but you have to make the alternatives better if you want to get people off the dollar mcdonalds menu, youve got to offer them better choices, and healthier foods that are cheap and wonderful. Stuart well, ms. Hannah and her friends think youre in the paying of the oil company only saying this because oil rules money. There is theres a conspiracy theory. Im not paid by pill or anything else. The reality well see more and more oil used especially in the third world. And there are people who dont have access to the oil and Energy Reserves and they want a bridge and a car and everything else. Stuart what are we going to do about it . Theyre going to use more fossil fuels. How do you persuade them not to. Were not going to do it by saying would you please step back into poverty. And the only way green energies so cheap and effective Everyone Wants to buy it. Stuart theyre nowhere near it. Nowhere close. We shouldnt be putting up money putting up solar panels and Wind Turbines 1. 0 until we make them more efficient. Unless we spend money on research and development to get to 2. 0 and 3. 0 and eventually get, it might not be solar panels or Wind Turbines, but there are lots and lots of ideas and some of them so cheap theyll eventually switch over. The other guys say as long as theres fossil fuel and relatively cheap well use it and not get to solar and wind and hydro, and its the reverse of your argument. Well, no, no, theyre saying as long as we dont find cheaper and smarter green energy, we wont switch and thats absolutely true. But they want to make fossil fuels that they want them. Never going to work. Weve tried in the rich world and not done it. Of course theyre not going to do this in china and india, so the reality is, weve got to realize like everything else, technology will save the day. Stuart around the table, five seconds each. Are we going to build the pipeline, yes or no. Yes. Stuart monica . Yes, we are. Charles. Charles yes. Stuart you knounanimous. I almost called you bjorn borg. Everybody does it. Stuart the pain from this has to be public. And can selling the tours of the white house saving 18,000 bucks a week. However, behind the scenes the president could be cutting more. Wait until you hear how much the taxpayer has to shell out on the chief of staff for the president s dog. Im not joking. Youll hear more at the top of the hour. Now, seven early movers this friday morning, the markets up again, where are the movers. The web Music Service pandora and stepping down and the market loves it, up 22 . And disappointing forecast for the head phone maker, candy is down big. And motorola cutting jobs, 10 of the work force and the phone maker tries to return to profitability. Google down a fraction. And facebook gives the news feed a new look and its down. Billionaire investor carl icahn demanding that dell pay out 15 billion in special dividends. No impact on the stock at 14. Blackberry has the new touch screen mobile device on store shelves in more than 20 countries. The chief says its gaining traction. Its at 13 a share. And now, mcdonalds, i love the dollar menu. And global sales establish the restaurants better than expected. But its still and its up, 98. 72 on mcdonalds. The big board, were up 61 points. New high on the dow and never been as high as this, 14,389. Time is money, here we go, 60 seconds worth of three examples of how people are spending their money. First, rare and expensive wines. We will have the bottles here in the studio. Is this an investment or do people actually spend thousands of dollars on a glass of wine and pop it open . Do they . Were going to ask at 10 35. Next, single People Living in style. Wait until you see the high end of bachelor and bachelorette pads, our mansion reporter from the journal found. Shes here at 10 45. And finally, pot as in marijuana, one Company Wants to put 30 marijuana vending machines in one city and its not even in colorado. The administration has given egypt 250 Million Dollars to promote democracy, so what could egypt be using your money for . How about this . The Morality Police. Wait until you hear what they actually do next. announcer scottrade knows our clients trade and invest their own way. With scottrades smart text, i can quickly understand my charts, and spend more time trading. Their quick trade bar lets my account follow me online so i can react in realtime. Plus, my local scottrade office is there to help. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer scottrade. Voted best Investment Services company. Thank you orville and wilbur. Amelia. Neil and buzz for proving theres nowhere we cant go. But, at some point. Giant leaps gave way to baby steps. And with all due respect, youre history. If you taught us anything, its that you cant cling to the past. If you want to create the future. Thats why, instead of looking behind. Delta is looking beyond. Pushing u. S. Aviation to new heights. All 80 thousand of us. Busy investing billions in the industrys boldest moves. Its biggest advances in technology. Bringing our passengers the best, the most spacious fleet in the sky. And earning more awards than any other airline. To show for it. So rather than simply saluting history. Were out there making it. 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 ally. Ally bank. Your money needs an ally. All right. We just got the paper from the white house from the jobs report. Quoting directly. While more work remains to be done todays report provides evidence that the recovery is gaining traction. The economy added private sector jobs for three straight years total 3. 65 million jobs added over that period. A direct quote from the the white house added just moments ago. To the big board, yes, were higher. The rally is losing a little bit of steam it had earlier were the 48, 14,378. Charles is going to make money with, wait for it, drum roll, 3d systems. Charles and hearing about the 3d printing thing and more exciting than any cell phone technology, anything going on in the world. The most exciting thing. Stuart 3d printing. Charles printing. You can actually print. Well, you saw the james bond movie, when they blew up his car, those were actually printed out of a 3d printer those cars. They were to scale, but you could do almost anything with this. And event