Transcripts For FBC Markets Now 20131119 : vimarsana.com

FBC Markets Now November 19, 2013

If we move higher on the Dow Jones Industrial gains and close around these levels, you will see the 40th record high of this year. That would obviously be a big, big deal. We have seen a long winning streak. So you do see the nasdaq and the s p have pulled back. Records for these recently, however today a mixed bag. 3m, home depot, Johnson Johnson have hit record highs today. Momentum seems to be still to the upside. Commodities are gaining. The dollar pulling back but certainly a lot of names we are watching and home depot with higher volume as well. Lori and this news alert. Waiting for official word of the jpmorgan settlement as Charlie Gasparino first reported, the deal announcing today with 13 billion payout. The deal will settle claims the bank overstated the quality of mortgage security during the housing boom. In talks for weeks and as charlie has reported, lot of the backandforth has to do with the language of the deal. Adam making comments about the future move. When he was quoted saying he is cautious and that the market could easily have a big drop, but in a statement on his website late last night he wanted to make clear looking ahead it is almost impossible to predict what a market will do in the short term saying there are too many variables. Lori best buy shares plunging thirdquarter results came in ahead of estimates but the retailer warned margins to take a hit as it tries to keep up with the competition for black friday and holiday deals. The Company Getting a vote of confidence, it is showing visible progress and we are seeing it in the share price u up 270 so far this year. Down in excess of 8 at the moment. Adam right now were following latest development of the tesla model s fires. Jo ling kent is here with more details. Investigation to investigate comes after three fires involving tesla model s in the last six weeks. They are looking for safety defects involving the undercarriage of the car in 2013 model s vehicles. They posted investigation but there is more to it than that. A potential investigation a waste of time but said he hoped to bring about a longerterm positive outcome. There is a larger issue at stake about safety of electric cars, it will delay the advent of the increase of Global Climate change with potentially dangerous consequences worldwide. Asking why does the tesla fire with no injuries get more headlines than 1000 car gas fires that kill hundreds of people per year. Less than an hour ago he adds what makes this incredibly unjust is the model s to date has the best safety record, no injuries or deaths ever. Regardless of the investigation, which could take several months, he vows to extend the warranty to cover any fire damage is caused by the driver even if it is caused by the driver alone. Although this investigation could involve a recall today, shares are up just a bit right now. in both of his blog posts and tweets, he promised his investigation ends up with a problem or need for improvement tesla will implement the changes, all cars old and new, for free. Lori with the do dow flirting h a new milestone and the economy moving in the right direction, former treasury secretary Larry Summers warning about sluggish growth that is lingering so what is ahead for the u. S. Economy . Joining me with his outlook, great to have you on the show. So what do you think of the comments saying slow growth may be here to stay . No big upshot to look forward to . Do you agree . This goes back to finance 101 and the first thing most people learn is past performance does not guarantee future return. That is appropriate for the economy at this point. Absolutely i agree the county has struggled through a sluggish recovery over the past three or four years but there has been some very special factors, the collapse may housing sector sector, a euro crisis might do the euro zone secondlargest economy in the world and on top of that the hurricane last year with much of the northeast, here in the u. S. , all of these things cannot be dismissed. I am not somebody who loves excuses, but there were very good reasons to explain the underperformance. This year alone the tax increase and the sequester. The future will be very different. Lori this summers speech was a couple of weeks ago, but the reason it is sticking around is he specifically referred to the zero lower bound. It is essentially the fact the Federal Reserve has lowered rates so far 20, cannot rate lower at this point for job growth, to spur Overall Economic growth troubling by way of the fed losing its power and influence and troubling to the broader thesis this economy has nowhere to go. What has to happen to get it out of the funk . The fed is not out of ammunition as most are well aware, they have been embarking on this quantitative easing program, massive program of security purchases which pushes longerterm Interest Rates like treasury notes, Consumer Credit card loans and Mortgage Rates down to lower levels and that is where the fed is impacting the economy right now. Lori some people would suggest the fed is out of ammo. Quantitative easing, this additional tool again has done nothing to provide meaningful economic growth, to provide meaningful job creation. The economy is moving in the right direction. Gdp is showing growth, but we are nowhere back to where we were six, seven years ago. Will we ever get to that place, it sounds to me like we should be satisfied with where we are and the direction and the pace it is headed. Speak of you ask anybody who refinanced their mortgage or bought anything on credit on bigticket items, those folks will tell you low Interest Rates are helping the economy and were moving in the right direction with the pace of hiring is faster, this stone weighing on the economy is actually much smaller next year, threso the economy is on the cuf accelerating. Now more comfortable issuing new credit as easier terms. There is a whole plethora of indications that not only will continue to accelerate but we will be pushing to and above trend. Lori so we should be in good shape for the quantitative easing, the wand purchases. That is why were having this discussion now. It could happen in the december meeting. We will have to see what the next employment number looks like. If not in december, we will see at the First Quarter of next year. Lori i appreciate the discussindiscussion, thank you. Adam investors prepare for a possible easing of sanctions against iran. Fox business contributor in the trading pits of the cme, and we see crude go back over 94 per barrel . It could happen. Were seeing a big unwinding of the spread. A lot of reports of how Commodity Funds recently lost a lot of money and bad debts, todays action you can see why because it has been reversing all day headline by headline. Originally the talk was to bring the brent crude down, as people got out of that risk on trade, but we had an explog]iez and refinery indulge them bringing it back up again. But it is going the other way once again because of a report out of libya it is loading its First Oil Tanker in over a month. So that could be a sign we will get more oil from libya. This will impact gasoline because what is happening now is the back and forth depending on how you want to get that impact. Back to you. Adam all right, phil flynn. Thank you very much. Lori and romneys case on the Health Care Rollout and president obamas plan to make it better. Adam the art of the automobile from the worlds fastest car. 334 the worlds finest vehicles. We put you in the driver seat ahead of the auction in new york. Lori gorgeous, classic. Walmart giveth and walmart taketh away. As a nation labor report says walmart threatens protesting workers. Details ahead. We went out and asked people a simple question how old is the oldest person youve known . We gave people a sticker and had them show us. We learned a lot of us have known someone whos lived well into their 90s. And thats a great thing. But even though were living longer, one thing that hasnt changed much is the official retirement age. The question is how do you make sure you have the money you need to enjoy all of these years. Losing thrusters. I need more power. Give me more power [ mainframe ] located. Ge deepsea fuel technology. A 50,000pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. Our Current Situation seems rather extreme. Why cant we maximize our. Ready. Brilliant. Lets get out of here. Warp speed. A lot can happen in a second. With fidelitys guaranteed onesecond trade execution, we route your order to up to 75 Market Centers to look for the best possible price maybe even better than you expected. Its all part of our goal to execute your trade in one second. Im derrick chan of fidelity investments. Our onesecond trade execution is one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Lori it is time to make a little money. Charles with a look at major players. Charles this is a natural gas play. I did this earlier this year, talked about a lot with stuart varney. We got out too early, did not make the entire move. I have been waiting for the pullback. Yesterday put a strong cell on it. This is a play on the miracle of liquid natural gas that these guys have all parts of it. Liquid vacation, distribution, storage and the fueling station. They sell equipment for all four phases of this. They made a huge and rode into china. This liquid natural gas miracle, everybody wants a piece of the action. The problem was adjusting the guidance of the lower, despite the pullback in the stock but under 100 i would start taking light a stock with the idea maybe holding it for at least a year, but i think it would get back to 130. Adam china is now getting in on fracking. Can they turn it around in a year . Charles they already have orders in china, that is what im talking about. China wants what we have. Hundreds of billions of dollars worth of fossil fuel, but we know about this smog issue, i think it is going to work out very well for these guys. Lori other susceptible to the commodity and price changes . Charles these are usually longerterm projects and are not susceptible. It is something we need that they got pretty good awards in america. This plays well. I dont think it should unless we see a serious breakdown in natural gas, anything associated could get hit, but even that would be temporary. We could actually talk about this for an hour. Lori i know. Good stuff. Adam time to check the market again. Nicole petallides on the floor of the New York Stock Exchange. The Campbell Soup company. Nicole i think it is good, would be happy to have a cup of campbells tomato soup. But the Sales Numbers were little bit disappointing. A loss of over 6 , at the lowest point today 38. 88. They came out with their numbers and a drop in demand, including the eight for example. They have been forced to cut their numbers. Obviously it is a real disappointment for the quarter and for the outlook. Down 6 . Adam nicole, thank you very much. While many stores in ohio are launching a food drive for needy workers but it has enraged some employees who have staged walkouts. Liz macdonald joining us. Liz we have been tracking this developing story. A fate of Conference Calls by union groups thing we want to expand black friday and thanksgiving day walkouts. And local individual Walmart Store outside of cleveland, ohio, put out boxes, here is the sign you will see here. Your Management Team is donating meals for workers for associates for fellow employees at walmart, so the push is on saying walmart clearly does not pay enough for its own workers to the point workers themselves are donating canned foods for fellow associates. Adam this raises an interesting question, the argument the union makes is you and i subsidize lower wages at walmart through food stamps, benefits that lope gets. Liz they noted 300 workers at the Walmart Store will cost taxpayers over 900,000 in food stamp benefits and government help. Walmart is saying essentially this is a local individual store asking workers to donate if they want to. These are for people whose spouses have lost a job or child support. But this comes at a very difficult time for walmart because the natural relations labor board say we can proceed with a complaint in a case against walmart for allegedly retaliating against workers who walked out on black friday last year and had thanksgiving day protest last year. More news coming. We are seeing protest gearing up against Walmart Stores in california, texas, ohio and illinois and florida. What were also seeing is this is a push for 25,000 annual salary wage for workers. That is what they want among other things. Lori always around Holiday Season. Adam how bad are things in detroit . A judges unusual plan that would turn the city into a charity case. Lori the aspirations of the romney clan from the matriarch herself, and romney. Her advice to her five sons and more than 20 grandchildren about getting into politics. Adam the word of our times. Justin bieber has made a business out of it. Selfie. Details just a head. [ female announcer ] tide pods threeinone detergent. Pop in the drum of any machine. To wash any size load. It dissolves in any temperature, even cold. Tideod pop in. Stand out. Ttdd 18003452550 can take you in many directions. Searching for trade ideas that spark youruriosity tdd 18003452550 you read this. Watch that. Tdd 18003452550 yolook for whats next. Tdd 18003452550 atchwab, we can help turn inspiration into action tdd 18003452550 boost your trading iq with t help of d 18003452550 our live online workshops tdd 18003452550 like identifying market trends. 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The obama minister obama adminin officials including health and Human Services secretary Kathleen Sebelius were warned as early as march about potential risks with the launch of the health care website. According to documents released by a house committee. The firm said a compressed testing window could affect the administration debility to iron out problems with healthcare. Gov after its rollout on october 1. Butterball has mistry on his hands. The company is looking into why some of its turkeys have not plumped up in time for thanksgiving this year. They said last week the supply of turkeys weighing 16 pounds we limited for the holidays. Those are your News Headlines on the fox business network. Lori thank you, lauren green. To present a campaigns now and romneys turn in the spotlight. The wife of mitt romney is out with a new cookbook. It is called the Romney Family table and sales of the book are going to cause netgear to her heart. She is donating proceeds to center for neurological diseases at the hospital in boston. I had the pleasure of sitting down with an rally to talk about the book, politics and her take on the troubled obamacare rollout. My heart goes out to those individuals having the policies canceled with no other option to find a replacement. It is terrible commit is really awful. Im hoping these things will resolve themselves quickly but i hate to see my husband predicted this would happen. Lori he was so vocal saying what he did about the formal care act. He said repeatedly he would not lose your policy, but that did not turn to be out the case. He is very frustrated. They did not tell the truth about this and if people had known that, im not sure how many people would have supported the bill. Lori do you think this extension Insurance Companies will be to continue selling policies for the president s fixing out late last week will help . It is throwing a Monkey Wrench in there. Now you go figure it out. There are some states that will not change, some that are. Lori how is it . We just got back from peru, they were able to go up in the mountains of peru, remote villages with us and see the wonderful extra in a individuals who live there that some of them have never seen a doctor. We were there to really do those things. Right now i am working to coordinate relief efforts to the philippians and i have a brother that just had a hip replacement and is heading to the philippines to help coordinate the relief efforts reported together to get into the philippines. Lori further political ambitions . A lot of people are asking if my son will run for different offices, and their mother is wisely telling them this is probably not a wise idea especially if you have Young Children in the home and do what you are supposed to do, raise those kids first. Lori five sons, 22 grandkids, what is abou it about recipes tt keep Families Together . I think the kitchen is the heart of the home as we all know. More poignant, vivid things came back to me. The feelings i had around the food i was served when i was a child. Teaching me how to cook, my mother and i wish i had absorbed more. At the moment you always think it is going to be there, and

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