We will see if it means good news on the future of the economy. Who would you cell to . The newest odd couple, if that is not odd enough, how high taxes are brought together. One of frances most notable actors and someone from russia. We begin with Nicole Petallides. Nicole we are not too far off the unchanged line. Right now we are down about 20 points on wall street. The Dow Jones Industrials get the nasdaq slightly lower. I also wanted to take a look at some of the automakers. We got in some numbers from them. Ford and gm, both of these names hitting 52 week highs. Sales are improving. Pickup truck demand has also picked up. No pun intended there. It is looking pretty good. You can see right now the u. S. Automakers are doing quite well with off aeros. Toyota is down about a half percent. Honda motor also under some pressure at the moment. Back to you. Connell will the new class offer more of the same relock . We have peter barnes now. Peter we should have a shot at the house floor and the old congress will wrap up and go out so that the 113 congress cant go into session. I still find this an exciting day when a new congress convenes. We have 82 new members. It is a very exciting day. It does promise to be as contentious as the last congress. They have a slightly lower margin. We are going to be watching the election speaker. There is a little palace intrigue going on with john boehner. He will need 217 votes today to become speaker. He can only lose 17 of the 233 republicans and that would require a second ballot. We have not seen that since 1923. We are not expecting it. There is some discontent. We will be watching that low very carefully. That vote will be around 12 45 p. M. Connell we will stay with this. We have ten manager in the studio with us now. Any thing about this current speaker. He will be reelected. I think we would know by now if there was any thing taken place with eric cantor. Connell we will added to this next class which they essentially created for us with the last clip now behind us. There were 25 House Republicans that had reservations for voting for boehner. What does this mean . I think, connell, it has to do with a lot of that experience they have just been through. John boehner negotiating a deal with president barack obama. The base of the Republican Party became john boehner. The deal did not work out so well. I think boehner himself have said they will go through normal legislative process. That is a good idea. It is not a good idea for john boehner to pick up the face of the Republican Party. He is the speaker of the house. It is not really intended that he should be a spokesman for the party. What he needs to do is bring forward some of the younger members of the house. Certainly, that a includes paul ryan and eric cantor. I would say that for the senate as well. Mitch mcconnell should be relying on some of the younger members of the senate as well. Connell i was thinking the democrats controlled the white house. The democrats also controlled the senate. The only bridge controlled legislatively by the republicans is the house of representatives. I do not think he is succeeding as the face of the Republican Party. Maybe two years from now. I really think there is a sense in which it is time for the next generation of republicans. Connell you mentioned mccarthy and cantor. They both voted against the deal. I do not think the party is that fractured. They are in a tough spot because the president got reelected. They do not control the senate. They do need to defend their principles. By putting legislation through normal legislative order and public, they can at least then make responsibility for which way it goes. More of a public event then having it done behind closed doors. Connell i assume that is why he cut the deal with the Vice President . The only leverage that they have is mathematical leverage. That is probably ridiculous. They used to talk about the dollars and now 10. Connell especially with no spending cuts. The wealthy do not have enough wealth to pay for all of the spending that he wants to do. They should somehow find a way to put the responsibility on the president and the Senate Democrats to explain how they intend to move forward. Connell the private sector, the you as added 250,000 jobs last month. I think there is no dow that it will raise expectations, but when you look at all the Economic Statistics that have been coming out, there is a line for a little bit of improvement in job creation. They are hovering at multiyear highs. When you look at other things out there, they are in fact consistent with a little bit of an approved but. I would not be surprised to see nonfarm payroll being improved tomorrow. Connell it leads into another round of these talks in washington. Is that the biggest potential stumbling walk . Every time you take uncertainty off the table, we know that a lot of fields were complaining about the fiscal cliff. That somehow they needed that piece of uncertainty off the table. Business spending has been weak throughout 2012. I think that will pick up a little bit. We know that even Prospective Home Buyers will feel a little relieved now that they know that the majority, if not all taxpayers will receive a tax hike except for these ultra wealthy individuals. All of that will improve things. You will get more incremental positive changes in the economy as the year progresses. I think in the second half of the year the growth picks up a little bit. Connell it was mostly revenue in that bill. If there is more cuts in spending, will that slow the economy down a lot or maybe with a new think . It really depends on what kind of spending cuts are there. Never underestimate the ability of people in congress to be creative. A lot of the spending cuts are back aided. It really does not influence 2013. Everybody knows that the budget control act is there and certainly looking over the shoulders and congress. If they go ahead and take a bite of that spending in the outer years, it is not impede growth in 2013. Connell this idea of that gloating. Thank you. Starbucks, meantime, what the coffee giant is doing to try to curb the mass. We talked about john boehner. Under fire for stalling on that Hurricane Sandy relief bill. Charlie wrangle is here. Quite outspoken the past couple days. Markets now. Lets look at one of the big markets today. That would be oil. [ male announcer ] where do you turn for legal matters . 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. [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Connell we are back on markets now. New numbers are in. Department of transportation signing a record of violations by airlines last year. 2012 numbers beating 2011 records. The richest of the rich pocketing even more money last year. They tacked on 41 billion to their combined net worth. Charles payne is coming up in just a moment. Tax the rich more, charles. Starbucks rolling out reusable plastic cups starting today. It costs one dollar to get a reusable cup. They are hoping it will increase the hobbit for people to go green. Starbucks wanted to serve 25 of all drinks and reusable cups by 2015. It has now been reduced to 25 . They have a starbucks at the New York Stock Exchange. That is where we are going now. I have a reusable sleeve that i am using. Nicole over the last 52 weeks, starbucks is opening up in vietnam. They continue to expand. The one dollar reusable plastic cup is the story. Take a look at dow component boeing. They set a record for their 737. The orders that they saw in 2012 reached 1124 net orders. That broke their prior record for any single year of a new model. That will be something to watch for 2014. Boeing continue to break ground. Connell making a little money with Charles Payne. Today we will talk about retail. Charles right. This is a womans Specialty Clothing store. I actually went to one out in l. A. With my wife. She loved the store from the outside. I think it is a good move for them. Also, they announced a billiondollar buyback. They just finished another billiondollar buyback. 5 . A year ago, samestore sales were down. Old navy. Up 13 samestore sales. It has never been that good, or at least not in the last five years. Old baby looks like it is coming back. The gap has a little bit of its swagger back. My son does not want anything from there. Connell it used to be cool way back. Charles some of it is that advertising. Every time they try to get cool people to their advertising, it is cool people ten years ago. I saw him on the podium. [ laughter ] i am really confused about that whole thing. More and more people are certainly falling back from mecca. Old navy may certainly be the one to drive it. Connell good appearance by Charles Payne. We will see you next hour. You are al gore and you want to sell. Who would you sell to . Apparently he had offers from two people. Why is Googles Eric Schmidt in north korea. Before all of that, lets take a look at world currencies. We will be right back. At 22 minutes past the hour, i have your fox news minute secretary of state Hillary Clinton is out of the hospital. Doctors are confident that the secretary will make a full recovery. A state Department Says hillary is excited to get back to work. A coast guard salvage team finally able to board a shell oil rig. Officials now claiming there is no evidence of a fuel leak and no indication other debris was ripped from the ship. The students of sandy hook elementary are returning to school today following last month tragic shooting that killed 20 children and six adults. More than 400 students are attending classes at a refurbished school given the same name as the old one. Back to connell. Connell 2012 proved to be a good year for auto sales. Will 2013 continue that trend. Jeff we will have to use the glasses this morning. We have gm, ford, toyota, chrysler. We have them all. Excuse the audio in the background. I just want to give you a headline. Mark royce expects the sales rate next year to be 1515. 5 million vehicles next year. Ford of 2 . Gm up 5 . Toyota of 9 . Chrysler up 10 . A good year or a good december makes for a good year in the overall gear. Lets take a look at the year end totals. Ford up 4. 47 for the year. Toyota of 26 for the year. Chrysler up 21 . We can also give you the raw numbers. How many vehicles do they really sell . Homemade cars they actually sold. Gm the winner. Ford number two. Toyota number three. Chrysler bringing up the year, but doing pretty well at 1. 7 vehicles sold. A quick look at the stocks, by the way. Both automakers of about 2 last i checked. I think that is where we are. Good news all around. Connell not bad. Not bad at all. Jeff flock on the breaking auto news. Thank you. We will go back to him a little bit later on. Is google going for the king of search to dear leader. The Company Later expected to go on a mission to north korea. He will travel with bill richardson. Since there is no business plan, schmidt will be the first Top Executive from google to visit north korea. This deal apparently was not the only one interested in buying current tv. They purchased al gores current call but only after it turned down an offer from back. Our colleagues say back made an offer last year, but it was turned away. East coast lawmakers have been flaming mad over the delays in congress. Congressman charlie wrangle quite emotional on the subject this week. He is here with us live. Markets now, lets take a look at some of the winners on the s p 500. Connell victims of Hurricane Sandy are still waiting for some answers. Congressman Charlie Rangel is standing by to talk to us about that. Little reason to go anywhere else in the caribbean. Cubas government is finally taking steps in that direction. The actor running from higher taxes in his own country. Befriended a wellknown president to the north. It is kind of an intriguing story. That is all ahead. For now, lets go back to Nicole Petallides. Nicole good news for private today. The stock is up about 3 . They have gotten approval from u. S. Health regulators. They are launching this in the United States immediately. We are seeing a nice job there. They obviously compete with medtronics and boston scientifics. I now want to show you transocean. It is up about 4. 7 . Good news there for them. The department of justice expected to announce a settlement today. This is according to sources who are familiar with the talks. If you are a bowl out there got a sixpoint loss on the dow right now is pretty good. We have next reviews on the job claims. Adp did better than expected. We are waiting for our monthly jobs report. We have seen auto sales doing very well. Ford and gm looking very good today. Hitting new 52 week highs. Those are a couple i continue to follow. Connell we have had this morning from moodys that more action needs to be taken in washington beyond the fiscal cliff deal that was passed this week. John, you cannot speak specifically to what moodys may do on the Credit Rating. It is a very important issue for you to look at as an economist or is it . Well, i would rather see the u. S. Avoid a Credit Rating downgrade. Through our progress through deficit reduction. That will probably require extra effort at reducing longterm government spending. Financial markets in the u. S. Did quite well. Bond yields moved lower. Equity prices rose. Not too long ago, movies cut the aaa rating of france to a aa one. French Government Bond yields fell. The french equity market moved significantly higher. Connell this is the issue that may be the most interesting that we have been debating here for the last however long. People say when will washington get its act together and really cut spending. Usually, our answer is when they are forced to. When they have no other choice. When bond yields start to shoot up. None of us can predict when that will happen. Otherwise, they will never do it. The rates actually went down the last time we were downgrading which is crazy. Here is what is complicating factors and that is quantitative easing. No longer does the market necessarily said treasury bond yields. Rather, it is the largescale buying of u. S. Treasury bonds by the Federal Reserve that seems to be putting a ceiling on treasury bond yields is not giving them direction. Connell when it officially run out of bullets so to speak, then we are in trouble. I think the feds will continue to purchase Treasury Bonds as long as the labor market is to slack to the satisfaction of the fed. As long as the Unemployment Rate stays above 6. 5 , they continue buying treasuries. That they have the undesirable effect of disguising a very important deterioration of the u. S. Is budgetary situation. Connell which is a mess and we all know it. You want to know in washington when they will start cutting spending, watch the bond market. What ten year notes. John, thanks a lot. Look at the equity market. It is rising. The equity market could care less about the lack of progress. Connell you are absolutely right. Johnjohn, thank you. We will have breath they are on. The House Speaker, john boehner, is, well, we will see. Will he keep his job . It looks like he will. A lot to talk about in washington today. First, speaking of the devil. There they are. Treasury yields. 186. That is pretty low. Here it is, your fox business brief. Shares of priceline are on the rise today. Boosting the online price target priceline offers more of a potential upside to this years estimate than the rival expedia. Subaru recalling within 630,000 vehicles due to a lighting issue. It could result in a smoke or fire. When these no longer thinks a hamburger has to be 0. 99 to be a deal. It has beefed up its options. Items ranging from 0. 99 to 1. 99. A revamped menu. More options while giving wendys more flexibility on prices. Connell Opposition Leaders in venezuela are calling on the president to tell whether he will attend his swear in. A spanish newspaper is reporting that the leader is in a coma and on life support. We mentioned cuba. The cuban government is cutting through the red tape and making it easier to take a vacation. At this point, it is appearances whether it actually changes a lot of things. And particularly in cuba. They have been denied something that americans take for granted. That is the freedom to leave your own country and go on vacation somewhere. To create law 302, at least legally in cuba on paper, and the requirement that all cubans obtain an exit visa to leave the country. However, cubans still must get a passport. At least on paper, this offers some hope. I have gone ten years without seeing my father. Maybe this way i can get some money together and go. Those that can travel should travel like it used to be. Critically cubans who want to leave the island and go visit another country, they will still need to obtain an entrance visa from that country. That is not expected to be simple. People like scientists, engineers will still be denied by the cuban government the freedom to leave the island. The desire of the cuban government is number one to let a great number of cubans leave because there is less mouths to feed. The second and probably more important is the way to put pressure on the u. S. Government to lift the travel ban. The delegation here in south florida and for that matter most if not all cubanamericans here all think this is simply political and economic posturing by the regime. This is done there is broke. The society is that they may see every single day down there. The people are four. It will make it next to imp