nicole: we have gotten in some great numbers. they really do move hand in hand. as he saw the data, looking good. rising to the highest level in nearly six years. you can see the nasdaq and the s&p also with up arrows gaining roughly a half of a percent. let's take a look at the comparison chart for the week. there is a look at the s&p outpacing the dow, slightly. certainly, you are seeing gains across the board. the question is, if you win the 600 million, do you come to work? i would. i would show up. lori: sure you would. back to this irs scandal. we are hearing that it has just wrapped up on capitol hill. peter barnes is on capitol hill for the wrapup. >> we heard some stories from some members of the committee about groups that in their districts that had applied for tax exempt status with the irs and basically got hassled. we heard from one ohio congressman who said a tea party group not only got a whole bunch of follow-up questions, it got questions about a particular member. take a listen. >> question number 26 is as follows. provide details, regarding your relationship with justin thomas. an american citizen who is in the audience today who still does not know why he was questioned. >> we provided horrible customer service here. we will admit that. we did. horrible customer service. >> you targeted and individual. he still does not know why he was targeted. >> miller also denied that there was any specific targeting of specific groups. he also said that he did not think that any of the employees did anything illegal. melissa: he said that they had terrible customer service. i guess that that depends on who you think the customer is. we will be speaking with the congressman from ohio. melissa: president obama appointing daniel -- to serve. is he up to the task? lawmakers expressing skepticism saying they just do not know much about him. we found out someone who does. kenneth baer. he worked with him for years. we are excited to have you on the show. this, of course, is what everyone said we got this announcement yesterday. who is this guy? >> it is surprising the first day of work when you go in and it is not danny. he is a legend of an unsung group of people of washington. he has worked for public administrations and democratic administrations. he is kind of the green party. he is there to make sure that all the money is spent right and things are executed well. his expertise is invaluable to us. >> he is a washington insider and a white house insider even more specifically. people are wondering, does it make sense to put somebody who is so close with the administration in charge of doing this kind of interrogation investigation of what happened. >> danny is not a partisan figure. he is somebody that in his office and there is a picture of him shaking the presidents hands. he is a career civil servant who worked in the bush administration as well. what he does have is this knowledge of how you run organizations and what is expected of someone who is given the trust to work in government. he has the utmost integrity. he makes sure that tax dollars are spent wisely and people who are in government who are not using the responsibility, you know, well. melissa: what would you say is his biggest strength? is it technical, is it financial? >> i think his biggest strength is his integrity and management expertise. someone who knows how these large government organizations are run. does the group of people who run these and has their respect. there is this myth that you bring someone in to shake up things. it does not really work. melissa: i think that is what a lot of americans want. >> the federal bureaucracy know how to stop that. if you do not know how these type of organizations are ran, it makes it that much harder. you know, he has that expertise. i think very quickly, we will go through and start changing the culture and putting out the problems of the irs. melissa: why is it not troublesome that he does not have specifically tax expertise. >> for anyone who is just, you know, lame and look at what is going on here, it is not a question of the tax law. it is a question of government employees allegedly abusing their parties. that is not a question of tax law. melissa: what is his attitude? his personality, his character like? >> he is intense. he works hard. he is a good natured guy. i think he really earned the respect of all the people that he works with. melissa: thank you so much. kenneth baer. >> my pleasure.% lori: is that what we are really showing? >> i thought i saw danny warfel. i also drank a lot of coffee this morning. i may be hallucinating. lori: analysts do believe that jamie dimon is likely to win the key shareholder vote next week. charlie, what is the latest? jpmorgan. yes, jamie dimon is probably going to win. it would seem odd, he is chairman and ceo that he would vote for splitting. larry calls the shots. i do not see blackrock voting against jamie dimon. going forward, what will be going on over there, i tell you, this is what i hear from inside the company. would jamie doesn't decide to step down, i do know, there is a lot of numbers out there. he is just sick of the ps. when he does step down, the next guy will take over as ceo and the likelihood is that this job will be split. a lot of analysts on wall street believe that the trend, clearly is to split. does that mean that this is a good thing for corporate america? no. generally, citigroup, when they were in trouble, i believe it was chuck prince. although, i could be wrong. a lot of these troubled institutions have these split roles. even though, for some reason, the experts go out there and say it is good to have one guy. what i hear from jpmorgan is that the next guy will likely have to split. there is clearly a movement inside that firm for the next guy to split it. i will say this, in lot of business political. i believe it is a huge political coup for some of these sort of activist pension fund guys. why not start with jpmorgan. that is where we are right now. tuesday is the bow. it looks like some of those directors that are up for vote may lose. that may be where they miss some stuff. going forward, watch this. i think jamie's next successor is -- i will say this, i would not be surprised that we do not see something more demonstrative in terms of corporate governance. they are not really denying it. i talk to analysts all the time. melissa: what do you mean? >> there will be a statement made by jpmorgan. it will be, look for something other than just jamie winning or losing. you know, for all i know, they will say that the next ceo will block of his job. i do not know about that, but something, clearly, i think, this is my gut. >> there are higher people who just think they will show up, we won, move on. >> you wanted us to say daniel? that is where a lot of confusion has been. melissa: it has been incredibly confusing. charlie: i had never heard of this dude before. no one knew who the last guy was. or the guy before that was. or the guy before that was. no one ever knows. lori: i think that we will be paying close attention now. >> knowing going forward could be how we stop these things from going on again. lori: charlie gasparino. melissa: now he is speaking to us coming up. congressman jim were not cheap. lori: a decline of 7%. i guess that there is no inflation there. the local [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. 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[ male announcer ] e pill eachmorning. 24 hours. zero heartbur lori: let's get you updated on the stock market as we do every 15 minutes. nicole petallides. nicole: if you are able out there on these two names, you are a little disappointed today. let's take a look, first at nordstrom. it is at its lowest point today. that was 5875. they cut their same store sales and revenue going forward. that is tough on those shares. then we have been watching jcpenney. trying to get the backing of goldman sachs financing which they did. they came out with numbers which were terrible. they have been weak. it is down about 2% right now. their earnings and revenue did miss expectations. 1840 is where they are trading right now. lori: nicole, many thanks. lori: fox business contributor phil flynn is in the pits of this cme. what do you think is holding gold back right now? >> i think it is the rising stock markets more than anything else. what do we need to head for, this market is going straight up. if you look at the physical market, even though the physical demand has pulled back, we are still seeing strong physical demand. at the same time, we are seeing global central banks load up on gold. if you look at the market, the investor class is selling, central banks are doing the buying. of course, you also have to look at the dollar. today, of course, it is under even more pressure as the dollar stays strong and the yen stays weak. melissa: let me ask you about wti. is there some real support there? some real strength? >> i think we are getting closer to the lower end of the trading range. the real issue is gasoline. a lot of refining issues. it is crazy to think that gasoline futures could be going off when you consider the fact that gas prices in the u.s. are at the highest levels since 1930. that is incredible. you have this oxymoron in gasoline. different parts of the country, they have an abundance. other parts shortages, go figure. melissa: phil flynn, thanks so much. >> thank you. lori: the push is on in florida to sign more people up for food stamps. we have the good, the bad, the ugly in this program. melissa: we look at possible facebook fatigue. we will be right back. ♪ you make a great team. it's been that way since e day you met. but your erectile dysfunction - itld be a question of blood flow. cialis tadalafil for daily use helps you be ready anyte the moment's right. you cabe more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your het is healthy enough for sexual activity. do not take ciis if you take nitrates for chest pain, as this may cause unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomac delayed backache or musc ache. to avoid long-term injury, seek immedte medical hel for an erection lasting more than hours. if you have any sudden decrease or loss in hearing or sion, or if you have any allergic reactions such as rash, hives, swelng of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. k your doctor about cialis for daily use and a 30-tablet free trial. 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[ male announr ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you the. call us. we can show you how at&t solutions an help you do what you do... even better. ♪ ♪ >> 24 minutes past the hour. i have your fox news minute. o.j. simpson's former attorney testified that simpson told him about the sting operation he was planning to take back items that he believed had been stolen from him. simpson is claiming that he received inefficient counsel. he wants a new trial. russia is sending at least a dozen ships to its naval base of the syrian coastal line to support the government. all of this coming as the u.s. and russia are planning an international conference in june. on the french riviera, about a million dollars worth of jewels have been reportedly stolen. a safe containing jewelry was ripped out of a hotel room wall. the jewels were supposed to be . lori: thank you, sir. florida government recruiters encouraging folks to sign up for food stamps. we are live in miami with more. >> florida's outreach is mainly to try to get senior citizens to accept the benefits that they qualify for. charles and virginia six never thought about applying for food stamps until today. it is this man's job to sign him up. the food bank employee crisscrosses four counties looking for people who are eligible but not receiving the snacks. the program brings $6 billion a year to the state economy, but for some, its explosive growth is a cause for a concern. >> they know, hey, it is the federal taxpayers paying for it. just one third that qualified take them. the group is a prime target for groups. >> it just feels, it is the pride and the shame all bottled up together. the hicks are still on the fence about food stamps. the retired bus driver and his wife of dirty seven years dented canned food. >> right now there are 3.6 million floridians on food stamps. that is double the number of just five years ago. melissa: next, congressman jim renacci joins us. lori: for battles on capitol hill, some battles at the box office. opening weekend for star track. i cannot wait to see this. we will tell you what the enterprise needs to do. first, take a look at who is out, who is down on the dow. melissa: she is a sci-fi geek. who knew. ♪ .. tdd#: 1-800-345-2550 opportunities are waiting be found in faraway places. tdd#: 1-800-345-2550 markets on the rise. tdd#: 1-800-345-2550 companies breaking through. tdd#: 1-800-345-2550 endless possilities. tdd#: 1-800-345-2550 with schwab, i search the globe for the big movers. tdd#: 1-800-345-2550 i can trade in 30 different markets tdd#: 1-800-345-2550 to help me seize opportunitie tdd#: 1-800-345-2550 pontially better returns and new ways to diversify. tdd#: 1-800-345-2550 to get an edge, i use hwab's global research. tdd#: 1-800-345-2550 they give me equity ratings on foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, tdd#: 1-800-345-2550 momentum and risk. tdd#: 1-800-345-2550 i also have access to independent firms tdd#: 1-800-345-2550 like ned davis research and economist intelligence unit. tdd#: 1-800-345-2550 and with my schwab global account, tdd#: 1-800-345-2550 i can trade directly online in top markets tdd#: 1-800-345-2550 in their local currencies-- when the markets are open. tdd#: 1-800-345-2550 there's a world of winners out there. tdd#: 1-800-345-2550 and now i have a better shot at finding them. tdd#: 1-800-345-2550 now get our best global offer! tdd#: 1-800-345-2550 trade commission-free online through september 2013 tdd#: 1-800-345-2550 when you open a schwab global account. tdd#: 1-800-345-2550 call 1-800-482-1241. melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange. our own nicole petallides is standing by, and nicole, stocks are up 55. >> we're looking at dow jones industrials up one-third of 1% up 55 points as you noted, melissa, with the dow at 15,288. we hit record intraday all-time highs. levels we have never seen ever. you see the dow at 15,305. talk about a switch on the s&p 500, dean foods will be moving out of the s&p 500 into the mid-cap 400 and they're spinning off an organic business. what is happening kansas city is coming in, kansas city southern, the railroad company. kansas city southern has a great performance over 52 weeks. up 77%. one going in, one coming out. we'll look for that. melissa: nicole, thanks so much. lori: is facebook losing its it factor as it gets older. first year as a public company is tomorrow. it is facing pressure to address fears that young people are losing interest in the service. more on the story, adam shapiro. adam, what is the story with facebook right now? >> "et" less look at facebook and the chart how they're trading. $38 was offering price. fell to 17 bucks. down to roughlyly 36%, 31% from the initial offering. the reason is facebook is trying to find ways to create revenue. that revenue is based on 18 to 29-year-olds liking facebook and saying, yeah it is still cool. lori and melissa, your kids are too young to say i'm over that factor with facebook. with those of us 40, 40 plus, watching kids or grandparents watching kids it loses its hip factor. in fact there was one study, facebook users 18 to 29 they pxpected to spend less time on the service in 2013 according to pew research center. so how do you turn that into money if you're facebook? one of the things they're doing, you get advertisements in your news feed. used to be off to the side. now you get the annoying ads right in the feed. not a whole lot you can do about that. you have the facebook exchange where they're selling advertising. they have been successful. they're making inroads with mobile delivery of advertising. you saw it in the last quarter. their revenue was up to 1.6 billion, up from 1.06 billion. at end of the day as i throw back to you, in 10 or 15 years when your kids are the teenage years will they be using facebook or some other app you as mom and dad can't. >> on them. lori: maybe this is too basics of a question. why not go for older demo? my mother is rabid facebook poster. melissa: really? lori: she is. check it out. >> here is the reality, advertisers want the young demo. this is the same in tv. who has all the money? it isn't 18 to 29. it's, what, 40 to 55. lori: right. so that is the demo they should targeting. >> those people allegedly, the theory, those people we, i should say --. lori: you're not parents. >> many of us over 40 we made up our minds when it comes to brands and we hold onto our money and don't spend it will fully as your children spend money as they grow up. melissa: adam, thank you. lori: that's one of our top stories today. outgoing irs commissioner steven miller was on the hot seat this morning taking members from the house ways and means committee. trying to get to the bottom of the scandal with the irs targeting con serve tiff groups. my next guest is member of that committee. congressman. jim renacci from ohio. thanks for joining us. >> thank you for having me. lori: you were the last questioner. and got miller to admit he was outraged about these allegations on two different occasions but miller was not compelled to notify anyone in congress. >> that is amazing. when i came before congress he was not outraged. he admitted he was outraged a few mmnths earlier than that. these are things disturbing to the american people and something we have to get to the bottom of. lori: what did you make of his, we were horrible and customer service but we were not biased excuse? >> again, as a businessman for almost three decades it's appalling the answers he gave. as i said, as somebody who represented taxpayers you have to be able, irs would never have accepted the answer he gave us and if there was an individual under tax audit, so i do think that, look, if the organization is that bad, it is deep into the roots of the organization. there is going to have to be, there is just not one issue. this goes across lines. i looked back. that's what happened when government grows way too big. lori: let's address the issue, your state, state of ohio, a battleground state in the 2012 presidential election, many tea party groups looking for the tax-exempt status are based there in ohio. do you believe that the irs was deliberately trying to use its power to influence the outcome of the election? >> well, one thing i do believe, and you saw in testimony today, the irs was definitely getting involved with many of the tea party groups within ohio. christian alliance that i actually submitted some documentation on, they were getting involved. these were groups that wanted to talk about elections and election process, education. and even the tea party group down in cincinnati, one of the things i was told off the floor was one of the members who had just started the cincinnati tea party, they both, the husband and wife went under audit at the same time. so, clearly the irs was getting involved in anything related to tea party activity, nonconservative activity. at the same time they were allowing many progressive groups to be formed and go right through. lori: if this was all not outrageous enough, we learned about the woman charged with determining tax-exempt status in ohio was moved to oversee the implementation of obamacare. this is sarah hall ingram. what is your take on this angle of this developing story? >> isn't it amazing. in the real world. there is the real world and world of washington, d.c. i grew up in the real world last 30 years. this is person who has done these things yet she gets promoted. in the real world she would be fired. that is so appalling what we learned today. lori: so, everyone agrees that these two firings were not enough. that i think it was one of our your colleagues made a very interesting point that americans, a true point, should not be afraid of the irs. so how do you bring bark the trust and confidence in the irs and let it do the job that it was designed to do? >> well, i think in any organization, that starts from the top down. that starts from the president down. again, i always go back to my private industry background. it starts from the top. there has to be that leadership that says this is not going to occur and it has to go all the way through the organization. right now i don't think we have that. we have organizations doing what they want to do. we have individuals that are doing what they want to do. i will tell you one thing, the responsibility still always goes to the top. private sector and should be here in the federal government too. lori: and again, we heard from the president yesterday who when asked if anyone in the white house knew what was going on with the irs he just responded and said i didn't know anything. that was telling in and of itself. congressman, it was a very busy morning for you. we're grateful you took the time out for us today. have a good afternoon. >> thank you so much. i appreciate it. melissa: after devastating tornado hits texas the plains and the midwest are on high alert for more severe weather. we'll tell you when the worst will hit. lori: european auto sales are up for the first time since 2011. we'll tell you why the champagne isn't popping yet. interest rates today, interesting diversion. this is playing a big selloff in the midlevel, 10-year yield is up to 1.93% as investors sell that paper. go out the curve. i think that they're selling, selling treasurys because we have the 30-year for you, selling at the long end. actually, they're buying. that is switched around or it was a mistake. apologize for that statement. they're basically buying treasurys today and that is pushing yields higher, that is big news. up to 3.14% on the 30-year. back after this idelity, we do it by merging two tls into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. r integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> i'm adam shapiro with your fox business brief. "bloomberg news" takes a step to stop the damage from the revelation that its reporters had the ability to snoop on client using bloomberg terminals. they appointed former ibm chairman and ceo samuel palmisano to serve as independent advisor on standards. he will begin a review of the company's current practices and policies regarding client data and end user information. "the financial times" is the latest news outlet to be hacked by the syrian electronic army. their supporters of syrian president assad. "the ft" says that a number of employees were sent phishing e-mails leading up to the attack. the newspaper secured accounts and is working to resolve the issue. the sca which emerged in 2007, they have a website, facebook page and twitter profile. that's the latest from the fox business network, giving you the power to prosper melissa: all right. we have breaking news right now. treasury secretary jack lew right now is saying that the department's extraordinary measures to avoid hitting the debt ceiling will last until after september 2nd. this was in a letter to lawmakers. lew says he can't provide specific estimate how long the measures will last. lori: they have the cash to cover our bills until september is that what he is saying? extraordinary measures? accounting. i don't know. i want to hear more about that. melissa: for sure. european auto sales breaking a 18-month losing streak. april sales rising from the historic low hit back in 2011 but the news is not all great. the jump is attributed to an extra two days in the calendar. many europeans are still reluctant to spend on big-ticket items as they cope with the ongoing recession and a dismal labor market. speaking of europe, the imf says substantial risk remains for cyprus. they will face a deep recession for both this year and next. this coming months after cyprus received a $13 billion bailout from the european union and the imf. there is a bit of good news for the troubled region though. markets there are climbing to the highest level in nearly five years. that's something. bank -- after ubs leading the gains after they said the global economy was healing and raising its rating on the european banking sector. some top banks are lloyd's, rbs and credit suisse. lori: cyprus is such a little economy. such a thorn this side of all of us. melissa: i guess. the big banking sector/money laundering sector yeah. lori: one of the smallest economies requiring a bailout to prevent a whole ripple effect for the entire region. they're yelling at us to move on. let's do and talk texas. governor rick perry is headed to granbury where six people were killed. many are still missing. more than 100 homes were damaged or destroyed after that tornado on wednesday. let's head to the fox weather center. rick reichmuth muth joins us. so the plains and midwest here on alert over the weekend? >> did you like that if. melissa: yeah, i did. that was neat. my kids would have loved that. >> hard for me to talk. you would have to talk more cyprus if we kept that up very long. here you go. guys, this is what is left of it. put it into motion. a few isolated storms we'll deal with. nothing that will be big severe weather. this however, is a new storm pulling across areas of the west and that will make big changes. we've not had real many tornados. it has been a quiet season. the column, that is averages. you see the reds. we've been really low. all that is about to change. dew points are high. numbers in the 70s. that is incredibly hot and humid or humid i should say. very sticky conditions. we haven't seen these dewpoint numbers this long a time. we have a big trough moving in. you get this kind of a kink and this is where we will see significant severe weather. anywhere from the northern plains through parts of oklahoma. a moderate risk issue for saturday, tomorrow already across parts of nebraska and in towards kansas. sunday pulls out a little farther toward the east, even monday dealing with the threat. likely to see a number about tornados this weekend and we'll keep everyone posted. lori. lori: oh, boy, we stand warned. thank you, rick. >> you bet. melissa: as we do every 15 minutes let's get a check on the markets. teddy weisberg from seaport securities, on the floor of the new york stock exchange. what is the feeling down there? will traders go long or will we see some selling in the final hours? >> i think long is where to be. whether you want to carry them over the weekend, that remains to be seen but basically the lines of least resistance continue to be to the upside and what is so interesting abbut today the dollar is very strong and you know we've seen this dollar euro trade where the dollar has been weak, euro's been strong and we saw that trade for the better part of two or three years and every time it would reverse the market would get weak but now we have relatively strong dollar. as a matter of fact, the dollar is making recovery highs and the market continues strong. it is a new dynamic. i'm not sure what it all means but it is very interesting. melissa: what are you looking ahead to for monday or tuesday? what is the big event coming up that you're watching? >> it is always economic events. the sideshow is clearly on the hearings in washington whether it is irs, excuse me, the irs or, or the ap or benghazi. but that is really seems to be a sideshow. the market continues to sort of ignore the bad news no matter what it is and, it will be interesting to see when we finally get that bad news, we don't know what it is, how the market will react. so far every selloff has clearly been a buying opportunity. melissa: ted weisberg, thanks so much. have a great weekend. >> you too. lori: interesting point about the dollar. it is strong, 1.28 against the euro i saw there. really interesting. we'll see if it is a new day for markets and their relationship. opening weekend for "star trek." i shouldn't be so excited. critics are not fans of this installment. will captain kirk and the crew of the starship enterprise beam up some profits?. melissa: lori will see it no matter what, i know it. look at some of today's winners and losers as we head out to break. the market is up 52. we'll be right back. [ man ] on december 17, 1903, the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and yohear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪ lori: it's trekie time. the next new "star trek" film opens tonight. but can it be marvel's "iron man 3"? dennis kneale joins us with the latest. >> fan boy alert. "star trek" into the darkness is the sequel to the remake that viacom's paramount brought out in 2009. it has been a four-year weight. it would rake in over $100 million this weekend. it is packed with action and war fair and great special effects and fresh-facee cast with chris pine as captain james t. kirk and zachary quinto as spock. a great pick for one of the most beloved emotionless character. captain kirk you are no ironman. "iron man 3", the disney-marvel blockbuster opened 175 million bucks. it passed the billion door lar mark. hollywood is happy to have captain kirk's box office help. theater tickets down 12%. im-3 and spock and company could help. movie fan site, rotten tomatoes, the new "star trek" gets almost 90% positive reviews from 1982 critics but only 80 from a few top critics a few set their phasers to sting. chicago sun "times", aggressively self-conscious summer block busters ever made. slate.com, generic come big style and with boomer culture. it was uninspired hack work by the hard to impress "new york times.". trekies will trek to the new "star trek." viecom paramount, they spent almost 200 dal making the film plus millions more marketing it. lori: those reviews gaysally described original series and hack can i and campy and comic book. that is the love of fascination of "star trek". >> what "the new york times" says it many abouts too war-like they sacrificed idiosyncrasy and big human spirit. melissa: maybe that's true. >> oh give me a break. reason they did that in the original '60s series because they didn't have any special effects. they had bad monster costumes. lori: "star trek" wrath of kahn was warring and nostalgic and went back to the original series with ricardo montlaban. >> you get this so passionate but bond prices and spreads. so you are a trekie. lori: i'm a sci-fi geek. melissa: so easy to egg both of you on. i don't know what to do with myself. lori: i thought cheryl has a power balticket. will she share proceeds? >> she promised to the entire show. i promised on air. she did deny it on air so i think she is coveeed legally. melissa: oh my goodness the powerball is 600 million. expected to go higher before what would you do with the money with the winning ticket? by 153 of the world's most expensive car. a lamborghini venino, $23.9 billion each. worth every penny -- 3.9. if you're like lori, how about a trip to space? jet on the virgin galactic spaceship 3,000 times. what do you think? lori: of course i know you get a ticket as well. how do you turn that down? melissa: i would go into outer space. i don't know about the lamborghini, some people feel we're always in outer space. melissa: that was too easy. coming up tonight on "money" legendary producer quincy jones joins me on business of music. how music partners like spotify which he is a partner in, are transforming the industry. he will tell us what he thinks is the biggest threat to the music business and biggest challenge. that is 5:00 p.m. eastern here on "fox biz." we already taped that. he was very cool. lori: i see why you were wearing the hot dress for going downtown into the music scene. it comes together. no, he is an icon in the music industry. melissa: never know where she is going with these things. lori: coming up wyoming's governing rave reviews for his new energy plan. should it be a model for the federal government? the governor joins us tracy byrnes and ashley webster next on fox business. don't miss it. monitor beeping ] woman: what do you mean, homeowners insurance doesn't cover floods? 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[ male announcer ] e pill eachmorning. 24 hours. zero heartbur tracy: welcome back. i'm tracy byrnes. ashley: i'm ashley webster. a fiery hearing on capitol hill over the irs scandal. republicans accuse the agency about lying about targeting conservative groups much the outgoing chief says it was a quote, the result of foolish is -- mistakes. charles abuse town any has been doctor boustany has been targetingit he is with us in moment. >> stocks are building yet again on the record rally. nasdaq and s&p are going for the fourth straight winning week. we have wells fargo chief portfolio strategist on how he playing this record market. ashley: wyoming's energy policy, governor matt mead how he plans to keep wyoming one of the top energy producers while preserving its awe-inspiring beauty. tracy: that it is. time for stocks. we go down to nicole petallides on the floor of the new york stock exchange. the dow keeps going, huh? >> tracy and ashley, this is the kind of market that just won't quit. we talked about momentum and many traders saying this market is overbought. while you might see some people taking profits here and there they're certainly nobody who is ready to short this market because every day or every other day it seems like we're making some sort of a record. today is no different. the dow jones industrials today, traded as high as 15,305. on the dow, you have had several names hitting 52-week highs or all-time highs in some cases. names that are breaking through, boeing, jpmorgan, johnson & johnson. microsoft, american express to name some. i wanted to take a look, we could do a comp chart here comparing the dow jones industrials with the s&p 500 over the one week. you can see the s&p is outpacing the dow, both indices are obviously clearly winners. we've also had economic news today that was better than what we had been seeing throughout the week. housing starts were weak. we had jobless claims that were weak. today consumer sentiment looks good. that is something certainly we were noting and saw leading indicators coming in above expectations. a couple of things. the consumer sentiment was the highest in nearly six years. news and brings stock market up along with it. tracy: sure does. nicole petallides, see you in 15 minutes. >> now to the irs scandal. outgoing irs commissioner steven miller giving heated testimony in front of congress facing tough questions on his involvement in the agency's targeting of conservative groups. peter barnes on capitol hill with the latest. peter? >> yeah, ashley,,the acting commissioner, steve miller, getting hammered by republicans and democrats over this targeting of conservative groups that were, were, had applied for tax-exempt status. their applications were delayed. if they had tea party or patriot in the name, they were isolated for special kind of treatment, additional follow-up and questions. one pennsylvania republican, really lit into miller over this. take a listen. >> i just think the american people have seen what's going on right now in their government. this is absolute been an overreach and this is an ought rage for all america. i yield back. >> all right. [cheers and applause] >> mr. griffin is recognized for five minutes. >> thank you mr. -- [applause] >> all right. committee will come to order. >> reporter: the hearing room was packed with members of some of these conservative groups and some of these tea party groups. that, those were the folks who were applauding congressman kelly. ashley, tracy, back to you. tracy: i bet they were. ashley: peter barnes, thank you very much. it was, well, i hate to say good television but it was certainly heated exchanges. tracy: because it appeared to me had no idea what he was up against. ashley: no. tracy: he was unprepared. ashley: he wanted to be anywhere else but right there. tracy: clearly. getting his toenails cut would have been better. the hearing comes as president obama named miller's replacement as acting irs commissioner. the office of management budget controller daniel werfel will take over the job. in his current position he played a key role implementing the automatic sequester budget cuts. the white house says werfel agreed to head the irs through the end of the september. giving president obama four months to name another new commissioner. everyone is saying --. ashley: wouldn't you love that job? tracy: again, i have to get my toenails cut. he has no tax experience. ashley: no. tracy: but the guy is a number cruncher and your tax return is one big math problem so he could probably pull it off. ashley: let's get to the heart of this matter with more on the irs tea party targeting controversy is representative charles boustany of louisiana. chairman, by the way of the house ways and means subcommittee on oversight. congressman, thank you for joining us. you were one of the first to really turn the heat up on the outgoing irs commissioner miller. have you yet gotten the answers that you are looking for? >> no, we have not. we continue to see arrogance, denial, and evasion from the acting commissioner and others and i can tell you we're going to get to the bottom of this, if we have to get every single person at the irs to testify under oath. we're going to get to the bottom of it. this is completely unacceptable. they continue to basically not provide information, not only to congress but to the american people. it's wrong. tracy: you know, mr. miller was asked if what happened was legal and he, illegal, excuse me, and he said, no. and a lot of that has to do with the way the irs has done business for years. i mean, they target lower and middle class people on their certain deductions because they know those people can't afford audit or legal help. so the irs has been woulding this way for a very long time. >> well, there is no question about it. this is a double-standard. and the irs feels that it can come to the american people, and to congress and give these kinds evasive, incomplete answers. if a taxpayer tried to do that there would be serious consequences. tracy: right. >> we're not going to abide that. those days will end. this culture of rot will be rooted out. ashley: congressman, mr. miller said he doesn't know who gave the directive to go ahead and target these conservative groups. do you believe him and how high up do you think it could go? >> well we don't know the answer to that yet but we established there are some connections with the chief counsel at the irs and also with the deputy secretary at treasury dealing with tax administration. so we're going to pursue those leads. i want to emphasize we have just begun with this investigation. and secondly, this hearing identified the scope of what we're going to do to be much broader than what we initially thought. and so there's a lot of work that will be done over the next several weeks. tracy: it is such a far-reaching organization though. as we know, it is really the only organization that comes into every american household. and they frighten people. you get a letter from the irs, you are scared to death. you do what they say, no questions asked. the irs is pushing for electronic filing of your tax return. heck, they could start searching just on key words and start singling people out that way. this could be very far-reaching, sir? >> well, there is no question about it. the irs has immense power and it interacts with every single taxpayer and, abuses of power in this, these kinds of circumstances can not be allowed. and we will do everything we can to stop it and to stand up for individual liberty of the taxpayer. the kinds of information they were asking in these applications is just unconscionable and unthinkable in america today. secondly, they were divulging private individual taxpayer information in violation of federal law. these are, these two issues are critically important. we need to investigate them thoroughly. and there need, there will be consequences. ashley: congressman, does this propel the effort to actually reform the overall tax system? i mean this is the point we say, okay, enough is enough? >> oh, yes, i think you heard it from democrats and republicans today in the hearing, that it is vitally important that we reform the tax code, to simplify it, make it fairer to the american taxpayers. make it less complicated that so that compliance is easier. administration of it is easier. the thing is, we have to make this tax code much simpler. we can lower rates and promote growth. so i think this helps propel it forward. tracy: sir, take it to obamacare quickly. right now the irs was supposed to get more money to hire more people because they will have more responsibility thanks to obamacare. are you going to recommend those fund be halted for now? >> well, i have been and i'll tell you, that the irs's role in obamacare is an expansive role for an entity, an organization, that has already shown serious mismanagement and a culture of rot. we've got to do something about. that is going to be another aspect of this whole investigation. keep in mind that, one of the persons who headed up exempt organizations while this was going on, has now been put into a position of administering obamacare. this is unacceptable. ashley: congressman boustany, thanks very much for joining us today on this issue. we really appreciate it. >> glad to be with you, thanks. ashley: as the congressman said this is only just the beginning. >> they have quite a fight to fight but hopefully they get to the bottom of it all. there is so much more to come this hour. stocks headed for another winning week. wells fargo brian jacobsen weighs in on how long the rally can keep going. ashley: plus wyoming is the nation's second biggest energy producer behind texas. governor matt mead will tell us about his new energy plan and what he thinks about u.s. exports. that's coming up. first time to check how oil is doing, talking of energy and how it is trading right now. it is up today. the dow is up and so is oil apparently at 95.86 a barrel. we'll be right back. ♪ [ agent smith ] i've found softwa that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. stat warbles ] how old is the oldest person you've known? we gave people a sticker d had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do yomake sure you have the money you need to enjoy all of these years. ♪ tracy: that time of day. got to make some money. charles payne is here. this hour he is talking markets, highs and lows and chasing performance and that's what people do. >> that's what people do. you know what? it is okay to do that but know what you're doing, understand what you're doing. in other words there are hot stocks in the market. teslas of the world, green mountain. relatively new companies. not necessarily proven, extraordinarily volatile. a lot of times investors miss the move and they want to hit a homerun right out of the gate and make up for lost time. they find these high beta names. sometimes they get shaken out of them. you know how many people, more people probably lost money in those names i mentioned than last year than made money. one day it was down three points or four points or whatever. depends who you are and what you are. then there are people who maybe are investors say they want to be investors, true investors. you want to put solid stuff in your portfolio. i say you're always buying. and focus on good quality names. some names hitting 52-week highs, in fact all-time highs. johnson & johnson. honeywell. parker hannifan. johnson & johnson you want to guess what they started the company? ashley: when? >> 1886. honeywell, 1885. parker hannifan, 1918. they have been through the ringer more than once. i can go to sleep at night. i can't say these other guys have been through the wringer more than once. partly that's why you get the volatility. chasing performance is fantastic if you know who you are. a lot of people say i'm an investor. when a stock goes down two or three points they sell it at a loss. hence they become a trader who has takkn a loss on something because they didn't do the work or they're not sure who they are. ashley: do you have this conversation a lot with your clients. >> today i was pissed off but every day is happens to me. weather for. i'm not out of it. we mentioned it recently. i love the weatherford idea. it was up big and my office sent me an e-mail. i looked through the list. voluntary list on tracking system. you don't have to use it. most guys do. 5% sold it already. some people bought it at $12.87 and sold it at $12.50 two days later. the service is designed to buy and hold three to six months. i send them all e-mails. what is it going on? they get back to me of the a lot are afraid. ashley: hopefully they learn the lesson. tracy: they have to be honest with themselves. >> people have been scarred really badly. i get that point but there are so many bad habits out there. the idea you buy a stock that it will go straight you. you will buy one stock it is a homerun, it is a long-term, lifelong endeavor. ashley: and i will win the lottery. >> we'll talk on monday. ashley: i won't be here but okay. tracy: charles payne, have a great weekend. >> have a great weekend. ashley: quarter past the hoo check the markets. nicole petallides on the floor of the new york stock exchange. nicole? you are watching what, some winners in today's session. plenty of those. >> we have a lot of action. a lot of winners we're speaking about. look at general motors, at the highest level since the ipo. here it is up nearly 4%. 3.7% to be exact. i like being exact. highest level since the 2010 ipo. they raised them to a bye from underperform. this helps our government, u.s. government. all of us taxpayers and shareholders of the government, right? they plan on exiting general motors stake by next april. of course they have not broken even yet on their investment. we'll continue to watch that. northrop grumman shares hitting a multiyear high. government l company says it will buy back 25%. its outstanding shares. northrop grumman up 3 1/2% at the moment. back to you. ashley: nicole, thank you very much. we'll be back at the bottom of the hour. tracy: we'll have much more on this record market coming up. wells fargo's brian jacobsen says all the talk about the fed taking away the punch bowl, totally premature. he is here next. ashley: look how the dollar is moving right now and it is strong. all these currencies are down against the good ol' green back, yes, tracy including the good ol' euro. that grass of wine, a bottle of wine a little cheaper. we'll be right back. >> 20 mips past the hour. hello i'm gregg jarrett with your fox news minute. the top general in the air force says sexual assaults in his branch typically stem from a problem with respect for women and alcohol use. general mark welch and other military leaders met with president obama yesterday to discuss the sexual assault problem. general welch is calling military sexual abuse a crisis. he said combating it is his number one priority. texas governor rick perry will survey granbury, the north texas city that was devastated by wednesday's tornado. that killed at least six people and several others are still missing as the recovery effort continues. las vegas, o.j. simpson's former attorney that simpson told him of a sting he was planning to take back items he believed were stolen of him. attorney yale galanter said he advised simpson against it. simpson claims he received ineffective counsel in his 2008 armed robbery and kidnapping convict shun. he wants a new trial. those are the headlines. i'm gregg jarrett. back to tracy. tracy:regg, have a good weekend. >> you too. tracy: with markets hitting record highs investors are looking for any hint the fed will dial down stimulus. our next guest says the fed will not take away the punch bowl anytime soon. plenty of time left in the party. brian jacob sown chief portfolio strategist with wells fargo fund management. brian, we've been hearing rumors about the sometime this summer they will pull the reins in. you say, the money will keep flowing. >> we heard a lot of the nonvoting members of the federal open market committee. it is a committee of 12 individuals. 12 people have the votes. ones speaking this week, they didn't have the votes. they're nonvoting members. what they're saying it may be important but not necessarily will shape policy for the rest of this year. i think there is plenty of party left in this fed. tracy: you look at housing starts, if rates start inching up they might even buy more, right? >> actually i think that's what we're going to see, if we see mortgage rates beginning to go higher, which they already have moved higher week on week, that if the fed is going to take credit for somehow stimulating this housing recovery, they're going to have to take responsibility for keeping mortgage rates low. i think that probably by look at whether or not mortgage rates have moved up higher and if that is going to serve as a damper on the housing market, they might intervene and purchase more mortgage-backed securities. tracy: in your notes, you wrote, the stock market depends on corporate profits. i get that. that is how i was trained back in the day. how many of us who went to grad school and got finance degrees learned. but this market is up and it is not up on corporate profits? >> i would actually take issue with that. i think it is. if you look where we've gone from the trough of the market, s&p 500, earnings per share were around minus $6 per share. now they're up towards on a trailing 12-month basis closer to $88 per share. that is quite a significant move up. if you think about it, sure the economy went down about 3% in the downturn in nominal terms and it has recovered about 15% but the market amplified the gains and, amplified the losses. so it went down 52%. now we're up 144%. it actually i think is a lot of this is driven by corporate profit. >> but these corporate profits though are really cost-cutting, that has boosted the bottom line. no one really knows for sure what the market would look like if it were not for the flood of cash being thrown in. so we might know be seeing the record numbers without all that liquidity? >> true. that is very fair criticism and i agree with you. but it is what it is. tracy: sure. >> they do have the lower cost of financing. so a lot of the lower cost of interest for corporations has contributed towards bolstering the bottom line but the bottom line is the bottom line and really that's what matters. tracy: i absolutely agree with you. just like the lotto, you have to be in it to win it even though i'm not in the powerball yet again. ashley: shame on you. tracy: let's talk quickly about overseas. i know you don't like the "bric" countries but you like indonesia, mexico, chile, colombia because they have more democratically friendly governments. really? is or is that in comparison? >> in comparison. that is always the key thing, relative to what, right? so relative to the "bric" countries i think those are the countries, chillies, mexicoes, indonesia, philippines where they moved closer toward having more free market institutions and that's where i'm looking for more opportunities because i think they will have more rapid economic growth and more sustainable economic growth going forward. tracy: brian, are you in the countries with countrywide etfs or specific count company names per country? >> we have an emerging market manager who invests on a company by company base. tracy: gotcha. >> it is not just a matter of getting broad exposure to the country. it is doing due diligence on the companies you're investing in. tracy: brian, wells fargo management. that was great. >> thank you. >> $27 million yacht, oh, yeah, a unemployment rate of 27%. spain's king juan carl lows will get rid of one of those play things. here a hint, it not his economic's and employment problem. spanish king decided to give up the yacht fortuna. the 136-foot yacht was donated by a tourism group hoping the king's presence would attract tourists. here is the kicker. each refueling of the monster boat costs more than $25,000. i'm sure that goes down really well in a country where the average yearly income is well below $32,000. the king is also --. tracy: cutting corners. ashley: looking for austerity. it will be tough. tracy: what happens? do you put the boat on ebay? how do you get rid of the thing? ashley: that's a good point. tracy: i'm curious. all right, coming up the outgoing head of the irs blames foolish miss takes for the targeting of conservative groups came on a heated hearing on capitol hill. we'll have the latest next. ashley: here are some of the winners and losers on the s&p. good day, good year, goodyear up almost 7%. advanced micro devices, amd, up almost 7%. we'll be right back. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. 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(announcer) scottrad voted "best investment services company." the house. >> 19 minutes until the close of the end of the trading week the dow back near session highs with 15,305 just up which is the intraday high. very impressive to finish up and we have nicole petallides at new york stock exchange. >> session highs for the market looking at dow jones industrial average a similar move up half of a percent. the dow was up right now and then up is outpacing the down right now 434 million shares changing hands. also the ipo today a busy season here at 4828 the range was between 2018 and 35 it was a clear winner and it has heavy volume with a huge crowd to get this up and going for this company and it is interesting to watch the seattle company that makes software if it is interesting to watch this one because there was a lot of demand. [no audio] so on both sides of the fence democrats and republicans have had enough and this is a bad performance by the commissioner who was acting commissioner. ashley: arrogant and clueless bit torrent. tracy: unprepared. >> a part of the story that is being ignored an organization which is investigatory journalism said not-for-profit they get money from george soros has left leading organization but they do a lot of media and filed freedom of information request, they begin with a lot of the stories that we follow they had a standing request for a dark pool money which is what we're talking about on their doorstep arrives all of the applications from many tea party groups including ones that were not approved yet by the irs. you know, how voluminous and these files were, all the private detailed information. how can this be the gold they are leaking, leaking this information to the press? tracy: but are they beginning it? they have access data know what they shouldn't should not be leaking. they have so much information we were just talking about how they want all tax returns electronically filed including nonprofit profit you could word search these guys if you're looking for something. able be easy to signal out a particular group to gather information. >> that is true but they were going after the enemies of their boss which is what the allegation is and of course, we don't have proof there was any orders directly from the white house that have not surfaced but many people have said even today on the op-ed page of "the wall street journal" you need obama to pick up the telephone he is the boss of the irs when he goes out publicly and says these groups need to be stopped this is bad many. ashley: i didn't know anything about that i was just as surprised. tracy: why do they think we would believe that? i presume you will talk about this tonight? >> we will with michael reagan looking forward to that and covering a host of interesting stories including one you need to hear about. in the state of florida, they're going after people who run red lights by shortening the light -- yellow light time. [laughter] people are really angry. ashley: that is cheating. tracy: now you run a red light you will get a ticket now that is completely not safe. tonight on fox business network as 6:00 and 9:00. breaking news oil closing up at $96 and $0.2 a barrel marking the third straight day crude has closed higher. ashley: is facebook losing bet it factor but socially your website clears the first year as a public company but there are questions if young people are losing interest in the service. with more on the story we have adam shapiro. >> there was a report that was put out between 18 and 29 rose 13% said they expected to spend less time using facebook wear 1 percent eecuse me 40 percent said they would use 40% but only 1% said they would expand more on facebook so that raises the question who will use facebook if the 18 through 29 crowd is the old people over 40. look at the facebook shares after the ipo it was 38 then shot up now at 17 today is $26.41 and change depending with a go over the next hour and a half but in the most previous quarter they raise revenue 36% that was up from the 1.'06 billion they had in the quarter prior to that and they're making advertising in the new ways the revenue that appears in the new state -- new speed also selling advertisements that are targeted to you even when you are not online based on your likes and abilities and that is just one of the things that moves into the global sector as well. ashley: you said when grandma is on their it is not cool anymore. >> they are over is to gramm already that was the hottest thing going and now that is old. they are not even on it. i don't know. gold tumbles again how low will it go? ashley: still ahead the powerful jackpot that tracy will not win at $600 million. how good to spend the money? we have ideas but first as the l be right back. 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[laughter] tracy: we are all about celebrating. gold has fallen for the seventh straight session the longest losing streak in four years. what is driving the sell-off? jeff flock is talking to the traders at the cme. >> i have been arguing with and it is about the fundamental strength of the u.s. economy and i talked to phil and he says i am full of crap. what do you say is the reason? and george soros? >> it seems there is a lot of liquidation right now if you look at the u.s. dollar index it is strengthening significantly also the s&p 500. >> strings for the economy? >> to a certain degree we do have some economic data showing deflationary pressure and people are questioning how long quantitative easing will last. >> moving to oil that says positive we got a big jump today the third day in a row. that is about to me and? >> certain aspects are labor-intensive that we see demand pick up quite a bit also geopolitical risk risk, syria coming back into the pitcher of bombing between a pipeline that, 300,000 barrels between iraq and turkey so crude oil prices are rallying on that news. >> i am not totally wrong. i always appreciate his guidance as we sit on the edge of the eurodollar options here in chicago. tracy: you are not full of crap. we love you. ashley: the new "star trek" movie does not officially open until tonight but a few critics already have their favorites to seeing an denis neil has more. >> into the darkness is the sequel to the remake viacom paramount bought out from 2009 and overall the new film gets almost positive reviews from 192 critics from rotten tomatoes and.com but only 80% from the 44 top critics which may have them feeling stung in the "chicago sun-times" calls it one of the most aggressively self-conscious summer blockbusters ever made. slight drop, says it is a generic comic-book style fleck from a half forgotten boomer culture and uninspired hackwork. but they don't care if they avoided for years for the sequel and it could rake in over $100 million this weekend. it is packed with action and warfare and special effects and a fresh face cast with a new captain james t. kirk and a new spot crude is of beloved character but let's be real you are no "iron man." i year in may and three open at $175,000,000.2 weeks ago just pass the billion dollar mark but hollywood is happy to have the help and ticket sales are down 12% this could help but the stakes are higher for viacom and paramount spending almost 200 million to make its and millions more to market. by the end of the weekend they will know if that campbell will pay off. >> will william shatner make a cameo role? >> he is too busy with the price line commercials. >> i don't even know what it is what you're even talking about with the phaser. >> come on. >> it is set to stun. benedictus.ho is it it >> he is a brett? >> he has played sherlock holmes. keep an eye out benedictus cumber batch. >> gazelles like a tuxedo. tracy: will you see it? >> i am still running behind with iron man but i will see this before great gatsby and other epic. tracy: i will go back to my pop culture closet. pointy ears that is all i have got. it is time for stocks at new york stock exchange with a teddy weisberg joins us now. i will not even ask you if you are a "star trek" fame and. you are not? the market is up 80 points and we had a guest on earlier than said it has to do with wall street profits. does it? >> it is a lot of things but clearly the market is melting and they remain on the upside and it doesn't matter with good or bad or indifferent. the buyers are coming out of the woodwork. i am not sure anybody really understands its but clearly it looks like we will work higher not only today but perhaps for the near future. tracy: why i love you because nobody really does understand this day say they know the reason why but nobody gets it. >> unfortunately they don't give us the index or the rule book with the stock market and if they did we would all be off on our yacht but clearly the tape is telling us something the market is telling us something and sees something quite frankly that none of us see at the moment. we will find out sooner or later but it has been of a big mistake to fight the tape. nothing more bearish than those sold all ball in hand they keep talking down and a broken clock is right twice a day end sooner or later the bears will be right there right now the direction is higher tracy: it is a different time on the clock right now. have a great weekend. ashley: every cloud has a silver lining. wyoming governor is getting praise for his new energy plan and some say it should be a model for a federal energy policy and he will join us next. tracy: have you bought your powerball to get yet? tracy: really? eighty-seven yes i have. tracy: what can you buy for half a billion dollars? let's look at winners and losers with the dow up 80 points ashley: wyoming governor is unveiling an energy policy to keep the top energy exporter while promoting new industries like production of liquefied natural guest joining us by phone is republican governor mead thank you for joining us. >> thank you very much. ashley: from what i understand the new energy policy was to years in the making. why did it take so long? >> good question. when i started working i predicted it would be half a year but one of the things that took a long time was as i went about the state we tried to gauge all stakeholders conservation groups come and livestock producers, to get them on board to get input so it was as good piece of as possible and took a lot of time but it was worth it. ashley: nearly half the measures are aimed at streamlining the state regulations. is that a big obstacle when it comes to devise an energy plan? >> it is an obstacle and in the area where wyoming could do better we wanted to make a streamlined not just for easier for companies know what the rules are but also to speed up the process. one of the things they don't want to do is have the government ahead of the state that we see as a great opportunity. but i am also wanted the rules to be clear so this question of energy is so important that is fundamental to our economy and the quality of life so having clear and concise rules are both good on the development side. ashley: what reaction have you had so far from the federal agencies? >> has been positive. we are shipping copies as fast as we can to washington d.c. and department of energy, a secretary of interior because one of the things that is fundamental that the country should be looking at to have the energy strategy or policy. we were disappointed the federal government has not done that in my view. not just this illustration the previous ones as well. but we hope washington can be tone deaf but this is fundamental that only for the state but for the country but paying attention ashley: but there is a legal challenge to stop the federal government from withholding $53 million of mineral tax payments that is owed to wyoming the federal government says sari that is part of sequestration. what are you trying to do to combat that? >> we have not gone to korea but we have looked at every legal opportunity in my attorney general says it does not look much like a snowball chance that the congressional delegation is working with others. $53 million to our state is a lot of money. they've only call it an expenditure because it goes to the treasure but we should come to the state also new mexico and utah are suffering the consequences of what they can determine is the expenditure. ashley: governor mead wyoming governor and best of luck. >> thank you for having me on. tracy: we have been talking about this all day everyone dreams of winning the lottery with the jackpot worth $600 million. what would it you do with the money if you had the lucky ticket? you could buy 44 learjet is each valued at 13.$5 million. if you are a fan of the '80s you could own 26% stake of the team billion at 2. 3 billion something to think about. ashley: the doubt is that a new record and as cleaning takes us through the last hour with the russell 2000 recent tear and how to get in on that. countdown to the closing bell is next. i did? 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