Around the clock service. We have our own version of around the clock. Nicole petallides is on the floor of the new york stock exchange. Nicole it really is a time to shop. Lets take a look at the major market averages. The tech heavy nasdaq is squeezing out some games. It is up about five points. Some other traders talking talking about the fact that yesterday they got a lot of monetary policy. Then they start to get Economic News of things the a little bit better. They have to digest each piece of Economic News. There is a look at the dow. 13,237. It is down about eight points. Lets talk about best buys. From 1956, that is when he founded best buy. He is moving ahead. It could be by the end of the week. It is up 15. 5 . Connell a news alert from washington. You will see it here live from d. C. As we wait for the speaker, we will hear from a guy who says whatever god deal is signed, there will be a lot of pressure. Boehner will have to cut a deal that raises taxes. Their idea of fiscal conservatism, for two decades, has only been about taxes. Meanwhile, under current sentiment, underneath him, why dont you finally go after spending. Those Tea Party People will be completely hostile to whatever deal comes up. Connell the reason he is speaker of the house is because of those tea party. The same group that may, if you are right though i drive him out of town. He has been systematically pushing Tea Party People out of committees in order to get his conference more in line. Connell he better kind of followed the line here. That is how you organize and discipline. It will hurt the economy without solving the problem. Connell is he supposed to that would be characterized as a grand bargain. If you are right, his job is literally on the line. There isnt much of an option. He has not been talking about that. There is no intellectual foundation for math. If it gets tough, he gets blamed. He is going to come up with a lousy deal of some sort. That is about the past that he and republicans can hope for. Connell we will hear from the speaker of the house and just moments. We have received some advanced remarks that Speaker Boehner will use. We do not know where the spending cuts are. He has two or three weeks. It is pretty difficult to imagine. I think they will come up with phony cuts that taken down the road. That is about the best we can expect from john boehner. That is why, ultimately, he will have pressure to be replaced after he signed this deal. Connell we will hear questions and hear the speaker talk. Thank you very much for coming on. If you think about all this fiscal cliff nonsense ruining the stock market, Brian Jacobson is here to talk about it. You are pretty optimistic. Well, i am. I do not want to think no matter what. I do think that whatever happens coming out of washington, d. C. , we will probably see a little bit of economic break. That is already priced into the market. I think the economy will begin to accelerate. That could drive a little bit more investor optimism. Connell let me talk about the possible scenarios here. Everyone is focused on the idea if they do not get a deal. Even if they do get a deal, it will not be expansionary. There will be a lower level of government spending, or at least it will not spend as much. Neither one of those things should help stocks. Why is that environment so favorable . Okay. That is a very good point. A lot of times when you exercise, they say no pain, no gain. This is just all pain. If you look at forward earnings. Look at the way the market is trading. It is not depressed levels. We are almost at recession territory. A lot of that pessimism, a lot of that pain, is already priced in. It will not necessarily be good for the economy, but it does not necessarily mean it will be that for the markets. Connell the market has been up and down today. I am interested to hear you talk about pessimism. As we have reported a couple times today, the s p 500 may do something it has not done in years. It does not sound like a lot of pessimism. Compare where we were a few months ago. If you think that where we are now, we should be, probably, closer to 1505, s p 500. Back in september, it was looking like we were going to go off to 1450. Putting that in that longerterm context, we should be a lot higher than where we are right now. Connell in particular, the sectors and those type of stocks that you like, what are they . I think it makes a lot of sense to be globally diversified. There is a lot of things going on in the United States that could create some hiccups in the market. It does look like it is with the companies that are based in the u. S. , but are globally focused. A lot of those will come from the Information Technology area. Also, energy and healthcare. Those are some of my favorite sectors for 2013. Connell brian, thank you very much. Speaker of the house, john boehner, getting ready to deliver his update. As soon as he does, we will take it live. He will highlight the fact that the spending cuts are just not there. We will see what he has to say. Then the story about facebook interns. Just breaking in the cash. Lets take a look at oil today. Connell the speaker of the house john boehner is about to update us on the fiscal cliff talks. Pushing the president to come up with some spending cuts. We will have it live as soon as it starts. Before that, lets make a little money. Charles payne is here. Tell us your stock today. Charles they make great cars. The demand is absolutely on fire. The liquefying the commodities, natural gas, i think there will be a lot of money there. As you are worried about this fiscal cliff stuff, this is one of the companies that has done very well in a recessionary. They have managed extraordinarily well. Connell i mentioned a moment ago. Again, we are waiting for Speaker John Boehner. I mentioned a moment ago that the speakership and job is on the line. He will come out, rich erickson was telling us, the missing ingredient is the spending cuts. The president has not been serious. Where do you think we are in all of this . Charles this whole thing came about because of the debt ceiling compromise. Now it feels like that entire thing has been flipflopped. Connell i guess you would not have known all these things back then. Charles hind sight is 2020. What he may be prepared to accept now and what it was then. Connell the president called him up that day. We were actually down in d. C. That day. We thought there was going to be a deal. Apparently, behindthescenes, the president was saying no. I need the more revenue. The speaker said, forget about it. Charles also, there is a lot of anxiety within the Republican Party. And lot of conservatives are newer breed. The tea party breed. Despite what the media says, the tea Party Presented a major challenge. It was a stop establishment leadership. Connell the people who put him into power, and about a ways, was the tea party. We will go to the speaker in just a moment. Lets go back to the culpepper. Nicole now, they are moving forward and canceling trades. These are some big names. Citigroup, hewlettpackard and goldman sachs. I also want to take a look. It is tied to libor. We know a lot of things talking about it. That is why we are taking a look at ubs. Connell they refill population growth has now slowed down. Fewer babies being worn. It is not expected to hit 400 again into the year 2051. That is 12 years later than projected. By 2060, the old one out number the young in the first time in u. S. History. Aaa is predicting Christmas Travel can be added biggest level in six years. Gas prices are actually helping. Record highs usually at this time of year. Facebook interns. They can certainly afford it. A new study revealing that interns at facebook they cant average of 5600 a month. About 57 grand a year. Facebook making that there are interns, making 20,000 more than the average citizen. A pretty good place to be an intern. Also today, General Motors unveiling a new line of pickup trucks. We will go to jeff flock for that. Jeff. Jeff as we speak, gm executives, that is who you are looking at right now, they are talking about the new Chevy Silverado. If you look at the pictures of this, there was a huge explosion as a new Chevy Silverado pickup was unveiled to the public. It is the number one selling vehicle for gm. This is where this thing went off. They set off an explosion down here. They are hoping for and explosion of sales. We talked to the president , for gm and he said even if we go off of it gm can still make money. We can flex and make a lot of money at fiscal cliff levels. We do not think that we need to. Jeff what do you do immediately we take a look at different car lines. We look at where the strength is and could be. Then we look at the pent up demand. Jeff this is the silverado. They already have some kind of inventory. Mark reuss said they have increased incentives. They are selling pickups. If we do not go off the cliff, they are extremely wellpositioned. Connell jeff, thank you, as always. We will go back to washington for the speaker of the house. He is a few minutes late, which is interesting. A lot of pressure here in terms of where is the leverage. His question, where is the spending. We will say about his language and how he does it. We are also going to talk about serious. A very big story today. Blue shield of california is getting ready to fix some policyholders with a rate increase. Lots more still to come on fox business. Connell breaking news out of washington. Here is the speaker of the house, john boehner. To avert the fiscal cliff with a bipartisan agreement. That is truly solid and begins to solve our spending problem. The president still has not made an offer that meets those two standards. Republicans have. The president promising American People a balanced approach, his proposals have been anything but. Instead of beginning to solve our debt problem, he wants new stimulus spending and the ability to raise the debt limit whenever he wants without any cuts or reforms. That is clear that the president is not serious about cutting spending. The spending is the problem. How big a problem . I look at this report put together by paul ryan and the budget committee. Here, if the president got everything he wanted, 1. 4 trillion in taxes, this is what that would represent. If you look at the spending problem, you see it does nothing. Nothing to solve the spending power of our country has. Republicans want to solve this problem by getting the spending line down. The president wants to pretend the spending is not the problem. That is why we do not have an agreement. The chart depicts what i have been saying for a long time now. Washington has a spending problem. It cannot be fixed with tax increases alone. The right answer is to start cutting spending, addressing our debt and paving the way for longterm economic growth. Unfortunately, the white house appears willing to slow walk any agreement and walk our economy right up to the fiscal cliff. Doing that puts jobs in our country in danger. It jeopardizes a golden opportunity to make 2013 the year that there will be a fundamental tax and entitlement reform that will begin to solve our countries debt problem and, frankly, revenue problem. As you can see from this chart, real Revenue Growth is critically important. As long as, real cuts and spending, if we are going to solve our longterm fiscal problem. Old on taking on the big challenges our country is facing. Republicans are ready and eager to do just that. We made a reasonable offer. It is now up to the white house to show us how they are going to cut spending and give us the balanced agreement the president has talked about for weeks. The president will step up and show us he is willing to make the spending cuts that are needed, i think, we could do some great stuff in the days ahead. If not, this chart will look a whole lot worse. And, our kids and grandkids, are the ones that will suffer. Because washington was too shortsighted to fix the problem. Several recent polls have showed that 75 believes that the tax rates for the upper income should expire, why are you holding out for a tax cut for the wealthy which most americans say we should not have . Raising tax rates will hurt Small Businesses at a time where we are expecting Small Businesses to be the engine of job creation in america. Ernst and young has made it clear that jobs would be at risk. It is as simple as that. [inaudible question] well, we really should not be. I have argued going back to spring. This issue had to be dealt with. In may, the house removed a bill to replace this a question or with other cuts and mandatory spending. The president still is not serious about dealing with this issue right here. When i talk about pulling, most americans would agree that spending is a much bigger problem than raising taxes. They want us to do with this in a responsible way. [inaudible question] unfortunately, that is the case we are dealing with today. [inaudible question] i do not understand what the question is. Everyones income taxes are going to go off on january 1. I have made it clear that i think that is unacceptable. Until we get this issue resolved, that risk remains. Can you describe how difficult it is to craft a deal, while not jeopardizing your job as speaker that i am not concerned about my job as speaker. What i am concerned about is doing the right thing for our kids and grandkids. The white house says they have put spending cuts on the table. They say you know what they are. They have put some spending cuts on the table. Unfortunately, the new spending cuts that they want out trips all the ones they have outlined. [inaudible question] there is no such list. Right after the election, you said increase death rates was unacceptable. The language that you used, that is what you said before the election. I do oppose that. [inaudible question] if that were the case, every date would be christmas. Listen, my goal is to get to an agreement with the president of the United States that addresses this problem. [inaudible question] i have no idea. [inaudible question] complicate the efforts . Do you think that senator reid or then senator obama would have ever given to president george w. Bush unlimited ability to raise the debt limit . Talking about doing it now. I know they are talking about doing it now. Do you think theres any chance that senator reid or then senator obama would have done that . Zero. Congress is never going to give up our ability to control the purse, and the fact is that the debt limit ought to be used to bring fiscal sanity to washington, d. C. Last question. Last week, the Supreme Court of litigations had the defensive marriage act, and with the 1. 5 million cost, outside counsel to sign the law, but according to the report, it decreased. Do you support the idea of raising if the Justice Department is not going to enforce the law of the land, the congress will. Thank you, all. All right, speaker of the house, john boehner, thats where we are, live update from washington on the progress or lack thereof, pushing for stepping cuts as expected, but the president s idea of a balanced approach is anything but. Brett, the host of special reports, Fox News Channel with us now from dc. Whats the analysis of that . Whats going on here . Connell, i dont think its just public pronouncements. I dont think this is just bluffing for the microphone phone, and this is where republicans are, and they dont believe that the white house, that the president has put forward significant spending cuts anywhere near what they would like to see prior to jumping off a point where they are going to raise any tax rates. I mean, if they get to the point, which they are not saying they are at that point, but if they came off the strict line that they were not going to raise tax rates. They already got to the 800 billion in revenue as we talked about many times by closing loopholes and deductions, but to go beyond that, maybe get to a 37 instead of 39. 6 on the top tier, you would have to see some significant, significant changes to entitlements or significant spending cuts, and they are not seeing that, and i think theres a real frustration out this on capitol hill. Republicans will point out, just incidentally, that the president would gain about 70 billion next year for the tax increases he wants on the wealthy, about 70 billion specifically next year. Thats roughly about the same the administration is requesting for Hurricane Sandy relief. Connell right. Okay. Well, that does put it in some perspective giving you an idea what they are thinking, but the question is what do they do about it . A few interesting exchanges, and i dont know what reporter it was, the microphone was low, but why do we do this every christmas . Its always something. Thats one of the concerns. We cover markets, and can they function . Every year its something pushed to the end, and its going to happen again. How do the republicans, i dont know if get out of this is the right phrase, and a couple days ago, maybe i did see it, but now i dont see the end game how it works out. That is right. 65 of the americans of believe the federal government is broken. 82 of republicans, 71 of independents believe the federal government is broken. 47 of democrats. That suggests that people dont trust how the federal government is spending their money once the federal government gets that money. You have inherent problem in the way the government is working, period. The fact that they have to come to a crisis situation for every major decision is a big problem, and that actually was chad, our producer up on capitol hill asking that question about deadlines every time for a big decision, but youre right, and i dont see it yet. I agree with you. I thought it was 50 50 coming into this week. I think its 70 30 now that were going over the cliff, and maybe even higher than that, as you listen and talk to behind even behind the scenes. Connell i didnt know it was him, but i was nodding thinking thats what everybodys thinking, every single time, and thats why people get tired of it. Listen to Speaker Boehner quickly here on what he had to say about spending cuts moments ago. Heres the speaker. Ive been pushing all year for us to address the problem, but here we are at the 11th hour, and the president , still, is not serious about dealing with this isssue right