Melissa welcome. I am melissa francis. It is like speed dating around here. Welcome, then this field. Dennis sam stovall for bulls and bears alike. What that signals for the market. Melissa kevin brady joins us with his warning on americas growing debt problem. Dennis president obama black on capitol hill for the Third Straight day. After rounds of discussions, are we anywhere closer to a budget deal . Will dobbs has that story. Melissa carnival having yet another problem with one of its ships. Dennis time for stocks now as we do every 15 minutes. Our own Nicole Petallides is standing by. Nicole we are really seeing another wedding day here on wall street. We got good economic numbers. Many of these people are surprised. To see up arrows again and had the eighth consecutive record alltime close for the dow. We are up about 62 points right now. Not too far off from our session and alltime highs. Some of the names that are helping the dial along our hewlettpackard, chevron and ibm. This is a fiveyear chart. You can see we are up about 120 off the lows for the Dow Jones Industrials. Obviously, now at 14500, much better than 6500. Back to you. Dennis thank you, nicole. Melissa the stand out in todays session is without dow natural gas. Phil plan of Price Futures Group is in the pits of the cme. There are a couple things that are driving up that gas. Number one, of course, is the thermostat. It has been very cold in some of the consuming averages. That is driving the market higher. That is not the whole story. We have seen record electricity demand powered by natural gas this year. Some of the biggest producers in this country say they will continue to consume natural gas at the same record rate they did a year ago. This could be a very significant demand for this market. The other thing is seasonal. You usually get a nice little pop going into the summer heating season. Supplies have fallen out on. Down a lot more. Oil today is very interesting. It seems to be driven by the dollar. The spread was blowing up like crazy. It returns to north sea production, as well as other concerns with europe. Partly because we are getting more oil out of cushing, oklahoma. The u. S. Prices are starting to go up with the expectation we can export more of our oil in the next coming months. The spread is coming in. It is helping to support the accrued wti here in the u. S. Today. Melissa phil flynn, thank you so much. Thank you. Dennis the vix trading at low levels not seen in nearly six years. Is this a positive indicator are just that investors are getting complacent . Sandra smith has it in todays trade. Sandra it has often been a contrarian indicator. When the stock rocket goes up, the vix goes down. The s p 500 now flirting with closing highs. Look at this. Down 3 . It is already sitting near its lowest level in years. We have seen it sustained above 20. This is historically very low. If you go to the year chart, you will see we are trading at the lowest levels over the past year. People are just not nervous right now. The only thing that is making people nervous is the fact that nobody is nervous. We are now at a level in the vix that we have not seen since before the financial crisis. We are at the lowest levels we have seen since we entered the financial crisis. With that being said, our quiz did research and said do not necessarily use this as a contrarian indicator. Often times when the vix would indicate here in the marketplace, the market seems to be rallying on that bad news because the Federal Reserve is stepping in or than ever. Do not necessarily make it to nervous for you, dennis. Dennis my next guest says the markets climb higher is water torture for both bulls and bears. We have sam stovall here. Those people who are long right now and realize we are just inches away from an alltime high on the s p 500 realize it usually does not break through and close meaningfully about that alltime high in the first attempt. Usually you have some sort of repulsion. The pairs, on the other hand, are saying i really do not like all of this momentum because every day when the market goes up by two or fivepoint i am that much further in the hole, if you will. Both sides are waiting for the music to stop, but one is waiting with a bigger smile than the other. Dennis a fear that something will go wrong and a fear of missing out. Sandra smith just did a report on the vix. It is at nearly a six year low. Would you tell your mom to go buy it right now . That is a good point. I can see why that is the case. As a result, whenever prices climb, they tend to creep higher where as when they fall they tend to jump from the highest holding. Usually, the vix increases as investors are nervous and get more fearful. At least since 2000, when we have this level of complacency, it has become a matter of when not if. We will just have to wait and see. Dennis when you look at the last time stocks were at this 14,500, in that range, the economy is in better shape arguably and back then. Why cant we be happy about this . Well, we should be. Our report showed this. The levels we are looking at right now, economic indicators, valuations, monetary sentiment, etc. , really the only thing that looks out of mind is how far the index it is from the 50 and 200 day moving averages. Dennis where, generally, speaking in stocks, would you put money now and is it basically a bet that we keep moving higher or a bat to protect yourself from moving lower . Leaning towards we just celebrated our fourth birthday and five of the six bull markets since world war ii that did so went on to celebrate their fifth birthday. Number four was on march 9, number five will be a year from now. It is the cyclical factors that tend to lead the way. Dennis that what all kind of messed together. Thank you so much for being with us. Sam stovall. My pleasure. Melissa just a month after Carnival Cruise ship was stranded at the. Another one is stranded. Carnivals dream was wrapping up its trip when the emergency diesel generator malfunctioned. Things appear to be working normally, they say. While engineers work to fix the issue, carnival is giving stranded gas a refund and 50 off a future cruise as compensation. Dennis first prize is a cruise, second prize is two cruises. I am surprised they had anyone on board after the last one. Apple on the defense. The iphone maker taking jobs at the competition as samsung gets ready to reveal its latest smart phone. Melissa is president obamas approach working . We will get lou dobbs take. Dennis take a look at metals as we head to break. 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The stock was down yesterday. This is much to do about nothing. Paypal is still in amazing asset for them. Dennis it should be able to serve all kinds of sites. It is the biggest part of the company. Charles the old ebay may go back to present dispensers and irrelevant. For shareholder value, i think you have a great point. In the meantime, there is an analyst day. They have been great catalyst for stocks. If you are in it, i would definitely hold on to it. I like the volume today. Melissa what you think about this record after record every day on the dow . Charles you know what, though, light volume has been the problem of this rally since march of 2009. It is not confirmed by volume. I think we have such a crash from 14,000 to 6000, we shook up so many sellers. There are just a few more fires and sellers. Melissa charles payne, thank you so much. Dennis as we do every day at every 15 minutes, lets check the markets. Nicole petallides. Nicole let first take a look at apple. Apple right now is up 1 . It is up over four dollars. Some positive comments from one of the analysts. They raise it from a buy to a neutral. They talked about earningspershare growth in 2014. Many revenue opportunities. They still think that apple can bring it. Apple can bring those revolutionary products. How about amazon. Different picture here. It is pulling back. It has a downgrade. Sitting at 267. 82. Jpmorgan is considered about amazons profit. You are seeing them coming to the downside. Back to you. Dennis thank you, nicole. Melissa the market for hot wings and hotpants is going well and global. We will follow the business all day tomorrow on fox business showing you how you can make money on other peoples sense. I went to hooters once in coaster rica. Dennis were you wearing hotpants . I havent heard that in 20 years. Melissa i was wearing regular pants. I was just dressed for a cheeseburger. Anyway. The iphone maker playing defense ahead of samsungs revealing of their new phone. Dennis facebook and twitter feeds. My beef with it all. That is next. Its a new day. If your a man with low testosterone, you should know that axiron is here. The only underarm treatment for low t. Thats right, the one you apply to the underarm. Axiron is not for use in women or anyone younger than 18. Axiron can transfer to others through direct contact. Women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these signs and symptoms to your doctor if they occur. Tell your doctor about all medical conditions and medications. Do not use if you have prostate or breast cancer. 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Hope to 41 of the world 1. 2 billion catholics. In washington today the Judiciary Committee approving a new assault weapons ban. The ban also bans large capacity ammunition bag of beans. Measure predicted to be facing an uphill battle when it reaches the full senate. I am jamie colby. Those are your headlines. Back to melissa and dennis. Dennis thank you very much, jamie. Mortgage rates are on a rise. The highest level since august. Freddie macs chief Economist Says it is stronger signs of job growth and spending. Melissa apple is down playing samsung big launch today. Shibani joshi has all the details. Shibani oh, how the mighty get defensive. The competition has never been more fierce. No new iphone will come out until probably later this summer. It has nothing to do but become offensive. An executive at the company saying to the wall street journal android is often given as a free replacement and the experience is not as good as the iphone. People are buying these things like hot cakes for a variety of features, lower price point and they have a new device that is coming out this evening. It will be unveiled at a big splashy event. Amongst some of the features, we think it will be 5 inches in size making it more of a stylus instead of a phone or tablet, possibly by scrolling features and a mega camera as well. Melissa trash talk all you want, people like those things. Blackberry phones come out next week. Our orders promising . Shibani it saw its biggest orders and company history. 1 Million Units placed by an unknown establish partner. It could be anybody out there. Again, a good start for the blackberry. Melissa Shibani Joshi, thank you so much. Dennis it turns out not everything you read on twitter. Melissa who knew. Dennis go figure. A 52 page report claiming the right to censor sponsored tweets. A false post on twitter is an offense. In the early 90s, we were passing off protecting the internet from government intrusion. They tell you to not there yet. Do not hide it. They are just interfering so much. They believe they have the right to force 33 million loggers whenever they write a tweet to expose that they got free nike sneakers. I think it will end up in court. Melissa okay. There you go. Dennis both parties duking it out in washington. Lou dobbs will weigh in on president obama and his heading to capitol hill for the third time in his many days. Melissa what does americas debt crisis mean . Congressman brady is working to find answers. That is coming up next. Friday night, buddy. You are gonna need a wingman. And my 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. Dennis time for stocks now. As we do every 15 minutes lets go to the floor of the New York Stock Exchange with Nicole Petallides. S p 500 now is trying for a record itself. That is absolutely is. Were seeing the dow much of the same. The dow setting yet another record intraday high, trading as high as 14,523. You mentioned the s p 500 just a few points away from its alltime high. Granted at these moves these are multiyear highs, more than fiveyear highs on the s p 500 which in percentage terms up onethird of 1 . New york composite index which comprises every single stock on the floor is up half a percent. It shows you the rally is pretty broad based, drug stocks, theyre all doing well, dennis . Dennis what about the bank stocks . Look at one of the banks. Im near the citigroup post. It is up 1 at 47. 42. This is the one of the best performers in the banking stocks overall. Certainly a winner. Look at a lot of bank stocks are doing well. Fed stress test is coming up. A lot of people expecting a lot of these banks will reinstate dividends or up dividends or even announce stock buybacks. Watch the group overall. They certainly give you a sense of the market one way or the other. This is market running hot, no doubt. Especially with Economic News trending better, you know, now finally were starting to see a little recovery on main street as well as wall street. Back to you. Dennis always nice to be back from the dead. Thank you very much, nicole. Treasury secretary jack lew hitting the ground run in his new role touring a siemens manufacturing facility today and peter barnes is with him. He joins us from georgia with a preview. Peter . Reporter thats right, dennis, the treasury secretary making his first road trip out of washington to the siemens plant outside of atlanta, georgia, to try to heighten and bring attention to some of the administrations major priorities. This is a plant that builds what are called traction drives for large electric motors, the kind that are used in, for example, amtrak trains and in hybrid buses. Infrastructure spending is one of the president s Top Priorities and more investing in manufacturing, helping out the middle class is one of the messages here today with job training and highlyskilled, high paid jobs. This is a company, siemens, that is, in fact, doing a lot of job training here, paying higher wages and continuing to invest in the United States with 60,000 employees, and more than 10 plants. Take a listen. Weve invested about 25 billion over the last, ten or 12 years here in the u. S. , created, thousands of jobs in the last few years. Built many new, large manufacturing, plants, and have upgraded and expanded many plants. So we think this is a great place to manufacture now. Labor rates going up in china. Transportation costs because of energy more expensive. This is still the biggest market in the world. So great opportunity to do business here but also to export. Reporter the treasury secretary is right there behind me. So may get a shot of him as he walks by. He is getting an explanation from one of the plant managesers. Well sit down here in another hour or so to talk with him and that interview will be airing at 4 15 eastern time this afternoon. Dennis, back to you. Dennis thanks for the plug, peter barnes. It has been 587 days since s p downgraded the u. S. What will that new treasury secretary do to get our aaa Credit Rating back. Peter barnes will ask him at 4 15 eastern. Dont miss it. Melissa my next guest think is it is important step to reducing the debt. He likens it to a 500 pound man to lose ten pounds. I love that. Kevin brady is joint economic committee. He focused on other debt solutions. He joins me now exclusively. If you hear anything new, innovative or surprising in that hearing today . Not necessarily surpr