tv After the Bell FOX Business April 3, 2015 4:00pm-5:01pm EDT
♪ david: straight up at 4 o'clock eastern time. i'm david asman here with liz claman. the markets are closed. we're always open for you. lots of market moving news today that is sure to impact your money on monday and over the weekend. what can we expect here with some answers? john ma maxen. david steinberg. where investors can find the long-term value. mike chadwick says there's one big thing investors are ignoring that could be a sign of trouble. mike, first of all,
we've seen signs of trouble today at least in labor stats. what's up with that? what do you make with the relationship between the economy and the markets right now? >> a complete disconnect between the relationship of the economy and the markets right now. as you saw today, labor numbers weren't good. markets were at all-time highs. you have to look at the concept of what we're doing. we've been in the qe environment for four or five years. we can't escape velocity. the governments have spent tens of trillions of dollars. that's a disconnect right there. >> one of the things we saw again for yet another month, the government was she got jobs. there was a couple of places we were seeing jobs. john, how does this affect investments? mike is saying there is this disconnect between the economy and the markets. we're in this to make money for people. when does the disconnect actually meld? >> well, thanks for having me, liz.
happy easter to you all. i think really the market may react to the unemployment number at the start of the trading week. really, it will look a lot more -- earnings will start next week. relative to the fed raising rates. i don't think you'll see the fed raise rates any time soon. probably the earliest in september because there's no spin that you can put on this unemployment report. it's pretty pathetic. 120,000 jobs below what the -- you know, what the estimates were. that was worse than any estimate i saw out there. and the numbers behind the numbers look even worse. >> it was a shock. but, david, how will the markets digest the news on monday? >> it's -- clearly -- futures were opening early this morning. they collapsed. it depends on how people get their act together. markets may be on borrowed time due to misallocation of
capital. the resttral banks around the world for the last four or five years. we'll have to see when things give. >> by the way, were you surprised -- david, forgive me for interrupting. were you surprised that the markets -- of course, we have to rely on futures, they came down rather than being boosted by the idea that the fed will put off a rate hike? >> not necessarily. i mean, i don't know what kind of game the fed has left in them. they haven't printed money for five years. they have no escape velocity, you know, as he said. and it's going to be real interesting to see. they haven't outlawed recessions yet and slow downstairs. eveslowdowns. who will rely on what to bring us out of that? excuse me. valuations are 18, 20 times earnings. on a stand-alone relative to history, maybe that's high. maybe related to a zero interest rate environment it's not. >> what should people be doing with their
portfolios? should there be that moment where you rotate out. it's been a nice speculative time for a no earnings company that looks pretty sexy. do you say, wait a minute. we know something will happen. let's shift. but to where? >> this has been a wonderful environment for the speculators. sky-high pes. no viable business models. up three, 500%. >> where do we go? >> the market has to go to sanity. low pe. undervalued securities. there are undervalued things out there. i like brazil. it's attractive from a valuation perspective. the commodities are attractive. a lot of the steel complexes are attractive. the oil patch i like. some of the food companies i like too. healthy balance sheet. with some earnings growth. if we have a rotation
out of the sanity there should be safe money to be made here. i haven't been able to say that for a long time now. >> john, we're in the 73rd month of the bull market since it came off its lows, 66 months is the average. we're well above the average now. are we just due for a fallback in the markets because of that? >> well, i think there's a lot of data points that is pointing to the fact that we're due for some type of a correction. i wouldn't necessarily go as far as to say a recession. this is across many data points, durable goods, those orders are down. manufacturing is definitely showing weakness. one of the things relative to the employment report that no one is talked about is the fact that over 18% of the jobs that are in the employment force today are part-time jobs. >> in service. >> so when you have a 70% consumer spending economy, that's probably one of the reasons why retail sales, not just in february, but also in
march, retail sales were down significantly. let's not forget this this is in a market that people are paying less at the pump for oil prices. if people were feeling so good about the economy, why would the retail sales be going up? >> i'm glad you brought up the oil industry. david, you like two oil names that are related. we see the third month in a row that the oil industry has put out layoff announcements. >> yeah. i've been on the show a number of times. i'm a value oriented contrarian guy. you look back at the couple of last real big drops. '98, '99. '86. the major blowoff in the price of oil. from the bottoms, these big oil companies, these service companies, specifically i talked to you about british petroleum as a driller, i have spectacular long-term returns. and i think given a high
market valuation, if you can find groups, once again your earlier guest mentioned in commodities, in emerging markets and in these oil areas, i think you got a chance to probably do maybe better than average if you get a rotation out of the general indexes in the united states. >> hey, guys, thank you very much. have a great holiday weekend. good to see you all. thank you very much. >> likewise. have a great holiday. >> you too. >> well, memories pizzmemories pizzafound itself e company said it would not cater a same-sex wedding. kevin o'connor told us yesterday right here on after the bell that the backlash was almost immediate. forcing the store to close shop while the controversy raged on. but it hasn't been all bad news for the pizza company which found a multitude of generous supporters. liz. >> i was so emotional.
watching him yesterday when he spoke. he was almost teary eyed. the pizza shop received funding from the american sympathetic. here's what memories pizza plans to do with the extra money. >> well, there's some bills that the store has to pay off, and we'd like to remodel it and do it the way we would like to do it. so a lot of it will go into the store and redo the store and get rid of the debt. >> kevin is going to have more than enough money to do that remodel. look at this. fundraiser has generated 750,000 dollars as of 3:30 p.m. eastern this afternoon. he was very clear that he doesn't judge people's lifestyles. it's not something he will cater though. >> any gay person has come into his store was not turned away. it was just whether you cater. how many
weddings have you been to where there's been pizza? >> i would love one. >> they have never done catering there. they have money now to start three new stores. >> we'll watch it. california residents are under ordinance to cut back on water usage. while residents may see their lawns turn brown, businesses may see their bottom line turn red. >> everything from hotels to golf courses to farmers could take a big hit from these restrictions. robert gray in santa monica, california. robert. >> hey, liz. that's right. everyone on an individual basis is trying to make moves. here at the hotel fairmont in santa monica. the golf course using recycled water. but we also look at the farmer situation. we know this will have to go beyond proclamations to actual movement and clarity for businesses going forward. some of the farmers we
went to northern california to the front lines of the drought here, some of them found it more useful and lucrative to sell off their allotments than to use it to sell crops. >> the scarcity of water is creating opportunities for some farmers in northern california. they're selling off portions of their state water allocations to their neighbors in the south. >> we're capitalists. and we have bills to pay and a living standard to maintain. and so we're going to do what we have to do to enhance the profitability of the farm. >> dennis has been growing rice for half a century in chico california in the breadbasket of america. this has some of the first rights to water dating back to agreements 100 years ago when los angeles was still a small town. >> we are in an enviable
position. the stress related to the mismatch of supply and demand, we can alleviate. we're trying to be part of the solution, not the problem. >> he and his fellow farmers have no interest in becoming water salesmen for short-term gains. >> we don't put ourselves in the position of being water sellers instead of farmers. >> and, of course, these farmers in the driver's seat, watch rice prices go higher. the rice that's grown in the central valley, finds its way in our own tables. also exported to japan and korea. keep an eye. the prices there could be going higher. three-quarters of a billion dollar industry for the state of california. >> the mayor of san josé ripping out his lawn next week.
>> 80% goes to agriculture. thank you, robert. well, after the kind words, iranians are accusing the us about lying about the nuclear agreement. is the plan already falling apart? >> a contrarian call. russia's gdp falling 2.3% in february, one strategist says, get in. time to buy. he'll tell us why, but also how to play it. that's next. >> in light of the jobs numbers. the largest job search website in the world about exactly where the jobs are and who is hiring. >> plus, the story of a real life castaway next. ♪ >> they think that -- that's the search area of 500,000 square miles. that's twice the size of texas. ♪
♪ >> russia is on track for a tee deep recession this year. some investors believe the worst may soon be over for the oil dependent economy as its stock market and currency now both move higher. our next guest making a very bullish call on this country. and he's doing it right now. joining us, jc. he's capital -- russia
is going to come out of this? buy it. >> i like it. we've been buying it all week. we've hit the highest levels year to date. russia is outperforming the united states. last year, i was a vocal bear the entire year. you have to keep an open mind. our downside objectives were hit. higher highs, that's an uptrend, liz. >> their ruble lost a lot of value. a lot of violence going there. you feel better to get in now, too early than too late. how do you do it? what are you advising people to do to buy russia? >> well, i don't give anybody advice. i'm saying what we're doing. we're buying russia. let's differentiate between the economy and the stock market. these are two completely different things. japan is a good example. their currency is getting destroyed. russia is in the exact same case.
(?) down trend line from the september highs. very, very clear. that broke out this week. from a risk management standpoint, easy-peasy. as lonwe want to buy aggressively. >> rsx is the etf. luke oil, gas promo. magnet. some of their largest companies. i find it interesting because you have gazprom in there. gazprom struck an interim deal with ukraine. i thought they were at war together. apparently commerce is still happening. >> i can't speak on that behalf. you know, we look at -- >> i want everyone to know. jc literally goes by the numbers. he's not a fundamentals guy. i keep trying to push him. you don't look at the emotions going on at the ground. >> no one wants to know what i think about the economy and russia. i love it.
from a risk reward standpoint, it makes sense. up to the 200 day moving average. realistically, we want to see how it reacts to that level. i think we can essentially go up to about 22 and a half on the rsx. 20% here. the energy companies, the components in energy, you know what, everybody hates the energy stocks here in the united states. i like them too. >> we just actually showed correlation with the us oil fund compared to the russian market sector. you can see how the yellow line, russia, rsx, is outperforming the u.s. it seems there is different treatment of oil. >> yeah. oil has been doing well since it bottomed out. what i find interesting. when crude oil made new lows in march. we broke the lows. russia did not break the lows. the us energy companies did not make new lows as well. oil, russia, energy stocks, i like them all. >> before we go, you
like social media. the etf. do you like that. >> i've been on the show pounding the table the last couple of months. still hitting highs. the chinese internet company that we were talking about a couple of weeks ago. new 52-week highs this week. >> doesn't get involved telling people what he thinks. just what he says. >> nothing, but the numbers from jc. amazing story off the southeast coast. a man was rescued at sea after he disappeared. his boat capsized in bad weather. sixty-six days, he survived by praying for help, rationing water. louie was in sea 40 days. almost 20 days longer. the coast guard brought him to shore. jordan is said to be in good health. he doesn't even have a sunburn or dehydration. amazing story. >> it may have been disappointing.
but don't let that fool you. there are jobs out there. where is the hiring happening? we're talking to indie. the largest job search site in the entire world. >> plus, it's usually the us accusing of ira lying. they're now calling us liars. is this deal falling apart? >> and talk about a lucky break. one price is right contestant wins a brand-new car after someone made a big mistake. >> oh, dear. >> 22,000. which one is it? >> 19,849. >> no. oh. >> i won it! [laughter] congratulations. someone gave you a car.
only half the number of jobs created that were expected. is this a blip or signs of a serious economic slowdown? let's bring in our panel. we have steven moore. heritage foundation chief economist. matt welch. reason magazine editor and chief. and our own elizabeth mcdonald. let's talk about how this relates to politics and hillary clinton in particular. i'm told this is her worst nightmare. she may be campaigning within a democratic administration's term within a recession. is that true? >> yeah. it's a big problem for her and a big problem for obama. as we speak, barack obama has been running across the country trying to do the shuffle in the end zone about how well the economy was doing. this is a splash of cold water. the numbers are worse than you said, we revised downward by 65,000 jobs in the previous months. we gained 60 or 70,000 jobs. which is really pretty pitiful. i do think this is just
one month. we've been averaging 225. let's hope we get back to where we should be. do not blame this on the weather either. i'm sick of people saying -- >> i guarantee you'll hear more of that. the labor force participation was also bad. a lot of people pulling out again. >> that's right. 277,000 apparently dropped out. what i'm looking at is 190,000 on average. that's what we're growing at in terms of jobs. that's it. versus, what, 250k last year. this is a 2% economy again. we have the administration, you know, using stabilization plans, rescue plans, growth plans, and we have the federal reserve creating a disinflationary environment. they're so data dependent right now. they raised interest rates when there was weak wage growth in '94 and in the early '80s. it's a moving target there. >> there is one thing that is positive about this. it gives more impetus.
to the whole tax reform movement. and people want to incentivize the economy more by getting a more realistic rational tax plan. >> right. but we won't see anything like realistic tax reform i think in the next two years. we'll see presidential candidates talk about it hopefully with steve's help out there. but i don't think we're seeing actual concrete proposals in the senate and the house. or certainly anything the president will sign. >> we tried everything else. it kills me. we've done everything else except that. we've had yet to do tax reform. they talk about rocket fuel to the economy. that would be it. >> the boost for the flat tax. the sales tax. >> it is. i will make a prediction to you. i bet you'll get five republican candidates, 18 candidates that come out for a flat tax. by the way, liz, the latest numbers are that -- we didn't get 2% gross in the first quarter. we're closer to zero. zero. >> we'll see. we have to talk about the iranian deal. already showing strains both here and in iran
where the minister cut the deal. he accused the administration of lying. is this thing falling apart before it gets going? >> it feels like that. the guys who have to inspect iran's nuclear facilities, they've been kicked out in the past, iran has only answered one of their questions about their nuclear enrichment. iran could still develop centrifuges 20 times faster than they are. they could have smaller facilities. they could hide those under the deal easily. >> here's the problem, take a listen to what the president said yesterday when introducing this plan. president obama: if congress kills this deal, not based on expert analysis, and without offering any reasonable alternative, then it's the united states that will be failed for the failure of diplomacy. international unity will collapse. the path will widen. >> in that little phrase he said anybody who disagrees with him is
not smart. because they don't have the correct analysis. >> this is how the president has behaved in the last two years of his presidency. there's a certain amount of petulance of going about these things. this is not a deal. it's an agreement to keep talking until june 30th after which we'll see some kind of extension. that's why there's so much dispute over what's in the thing. >> when he starts talking down to congress, i don't think he'll get a deal with congress for them to do what they have to do, relieve some of the sanctions. >> i agree with that. i think the wall street journal editorial page nailed it today when they said, look, this would be a great deal if it were costa rica or some country we could trust. we can't trust iran. the thing that struck me when the president spoke, if iran sheiks will know about it. no, we won't know about that. they will cheat. >> a lot of stumbles and
triumphs. who were the biggest winners and losers. my favorite panel coming up. >> hours away from the final four battling it out for a spot in the final ncaa championship game. have you put your money down on your favorite team yet? kenny white tells us where the big money bets are going and who might win. and where the jobs are. leading jobs website, indeed.com says open positions are way more common in certain industries and locations. chief economist has an answer straight ahead. you can't miss it. ♪ [announcer:] what if one stalk of broccoli could
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. david: back with our panel, and onto mcdonald's increased pay. this wasn't the market moving the pay increases. this was basically pressure from the outside? >> yeah, they did this to become more competitive. and it's great for everybody. they did this because they had an activist target on their back. they're going to do this and it's not going to diminish the target on their back. you're seeing all over the place, one dollar, that doesn't account for much. david: the protests are going to continue? >> yeah, the left doesn't have a lot on the economic wish list, everybody is concentrating efforts on hiking the minimum wage to $15. david: stephen, this is mcdonald's own companies that are doing this.
the franchisees, and very often those guys are making a minimal amount of profit. they're stuck, if they don't raise wages they are hurting and people are going to say we're not going to go there? >> yeah, i disagree a little bit with matt on this. i don't think they're succumbing to political pressure. the labor market is tight right now. hard to find willing workers and just as walmart raised wages, the labor market tightens it is harder to find workers. we want businesses to raise wages to get the willing workers. david: that's fair enough. is the market really propelling or the protestors? . >> i think it's protesters, i love how we're talking about minimum wage jobs undercutting the value of the dollar. we're so focused on mcjobs, we have to have higher paying jobs, that's what the economy needs. the mcdonald's story, we have a huge nrlb case, mcdonald's, you
do control the employees at the franchisees, across the board, mcdonald's would take a profit hit for having to raise wages. >> winners and losers of the week. stephen, who is your loser of the week? >> i'm going to change mine, the big loser is las vegas. because las vegas at the beginning of the season, you can bet 50-1 odds that kentucky would win the national championship. people in las vegas are pulling their hair out. if kentucky wins the national championship, which looks like they will, vegas loses millions and millions and the long shot comes through. david: duke may have a thing to say about that. matt? >> persuasion, i'm going to do a dodge on a concept. with all the rfra in indiana, instead of trying to convince each other of the rightness of cause, they're going to government and using it like a brick against each other's heads. ugly thing to watch. david: liz, loser? >> i think mcdonald's, they're going to get slapped around by the nlrb. i agree with vegas too, it's
apparently sinking because of the drought, it sits on an aquifer. it's a loser for the city. david: job-seekers took it on the chin last month. we're seeing how badly they're hurting. winners, stephen, who is the winner? . >> i am going to basketball, tom izzo, seven final fours, amazing performance, go msu. david: matt? >> martin o'malley didn't do anything, running for president against hillary clinton openly which almost no other democrat is doing, while hillary clinton continues to sink like a stone in popularity. david: he's got some stones. liz, who's the winner. >> big tax hiker, too. the winner for me california farmers exempt from the water drought. the drought restrictions in california. david: absolutely. they get an exception, and my winner is iran's foreign minister, he returned home to these huge parades and cheers. this guy is a real hero for the
moment. who knows what happens next week. steve moore, matt welch, elizabeth macdonald. thank you very much for being here. catch liz and myself every saturday on forbes on fox at 11:00 a.m. eastern on the fox news channel. liz? liz: david, we've been following developing news of a massive six-alarm fire that engulfed a ge building. ge reporting there were no ire started early this morning and nearly 200 firefighters have been battling the fire. the company says ge appliance park has suffered extensive damage. ge employees have been told all manufacturing operations will be shut down there next week for the cleanup. david: spectacular fire. it's a big weekend for sports with the ncaa final four and the start of the baseball season as well. don't forget that. who is the big money betting on? we're talking to a legend in the las vegas betting world coming up. liz: we're talking to the chief
what is a disappointing jobs report. american companies added 126,000 jobs last month. the expectation, you see it, was supposed to be 245,000. the 126,000 number, fewest in more than a year. joining us now with where the jobs are. we know somewhere out there, chief economist for leading job search website indeed. leading in the world. we don't need to get into the number, and david effectively talked about the value of that, and we've looked at that number. but are there good paying jobs out there right now, terra? >> there absolutely are. this is something we've seen over the last year, seen a huge growth in job opportunities across a wide range of industries. we really are in a better position this year as compared to last year. this one monthly number seems to suggest we're having difficulty matching the people with the jobs, but the opportunities are out there. liz: boy, you are sounding very optimistic.
i'm not hearing negativity at all. people are saying the quality of jobs is awful. burger flippers, on the screen, you see health care, retail, transportation, information tech and financials. are these full-time jobs with benefits and good money? >> they absolutely are. there's a wide range of jobs, people want full-time jobs with benefits. some want part-time jobs where the hours fit their needs. all the jobs are available right now. liz: what's the disconnect? why are we not seeing double what we got today. why didn't we see 300,000, then? >> an excellent question. and i think part of it is the long, slow slog of a recovery that we experienced. people gave up looking for work and stepped out of workforce completely. that's where we're hoping in the coming months, people realize there are the great opportunities out there. and brush off the resumes and get back out there. liz: i was going to say, what
gets them off the welfare lines or off the unemployment -- hate to say till, that's a negative connotation, some people have been on month after month, they are able-bodied, don't you need to make money and get out there? what do we do to get people out there? >> this is a really surprising pattern in the economy. i think it comes from many years of a rougher labor market than what we're seeing now. it takes time for people to build confidence and to sxraelz recognize what the opportunitys and are confidently go out there. and some cases might need to get skills, for example, health care is a great industry to get into, you can't necessarily step straight into that. you may need to go to school and get background training to prepare for that. it takes time. liz: the president spoke yesterday in the state of utah, talking about job training. must we spend taxpayer dollars to train people? >> there's a wide range of
different ways people can be invested in, and that can come from the government, that can come from individuals choosing private education, and come from businesses, educating current workforce or offering training in order to attract new workers. liz: tara, if you look at map, we should dig down a bit more deeply. where are the most vibrant places to find jobs right now? >> i have to point out indeed headquarters of austin, texas, lots of great opportunities there. there are great places growing across the country. we saw in 2014, the unemployment rate fell in every state of the union. liz: could we guide people to indeed.com, might they find a job there? >> absolutely. show them the way. liz: tara sinclair, chief economist. she said there are jobs out there. david: i want to move the market to austin, texas. particularly after that winter in the northeast. they used to be some of the most coveted jobs in chicago.
working for oprah winfrey at harpo studios. liz: now the studio is closing. hundreds are people are out of work starting today. jeff flock is live at harpo. the end of an era. oprah is moving operations to california. what's the mood? >> well, you know, not as negative as you might think, as i report to you from oprah winfrey way here. she was a legend here, when you think back to what all of this was and what she did for chicago, tremendous. take a look back at oprah back in the heyday. remember when she shed 67 pounds? today, as you report, she's shedded 200 jobs. they are moving out to the west coast where the own studios are based. oprah joins the ranks of the famous chicagoans and decided to move away, include the likes of michael jordan and hugh hefner and the guy that moved to washington. i don't know if he's coming
back or not. they make their mark and fly away. she does leave a tremendous legacy in the neighborhood. this used to be a terrible neighborhood. and she by moving her business in, it's a great lesson. you move a successful business into a bad neighborhood and great things happen. she had a great quote to a publication in hollywood. she said we were here when there was nothing but hoes and rats on the street, and now it's one of the hottest neighborhoods in chicago. i remember those days, actually. if you parked over here, you had to pay kids to watch your car or your tires would disappear. liz: we're still waiting for the cubs to win, jeff. david: i used to teach high school right in that area, jeff. >> reporter: did you? >> and just about once a week, the tires would be gone. you are absolutely right. >> reporter: tough days. thank you, oprah. now you have to pay for parking. david: we're going to miss her. thank you, jeff.
liz: a huge weekend for sports fans as the ncaa final four gets under way and the major league baseball season kicking off. how much money will fans be betting and where are they putting their money? do the trends tell will story. the legend in las vegas betting.. >> hi, everyone. i'm gerri willis. coming up on my show, chrysler hit with $150 million judgment in the death of 4-year-old boy. safety of one of its best selling suvs in question. that's coming up on "the willis report" in just a few minutes. " what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure for cancer,
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. david: place your bet, everybody. a huge weekend for sports as the ncaa final four gets under way, and the first pitch of the mlb season is thrown. liz: you can bet the vegas bookies are working overtime this weekend. where's the big money placing the bets? with us, legendary in the vegas betting world is kenny white. chief gaming officer, kenny. you're always the guy, tell us where the big bets -- start with the ncaa for final four, where are they going? where is all the money flowing? >> a lot of money coming in on duke. 63% of the wagers are on the duke, and 61% of the wagers on wisconsin against kentucky, which is amazing, when they're 38-0, people are expecting the pressure to catch up with the
wildcats, finally, almost did against notre dame. this will be a great matchup. david: kenny, that's what surprised me, after that incredible comeback against notre dame in which kentucky came back in the last couple of seconds, i would think that would give them better odds because people think they are psyched for this game in the finals? >> you would think that was the wake-up call, and this is the lowest kentucky has been a favorite all season long. they were minus 5 against louisville, but reversed the cards. wisconsin has only been an underdog once the entire year, that was the last game against arizona. they're getting five in this game. more than any other game in the entire season. liz: i have wisconsin to win it all in my fox business bracket. david: you do? liz: yes, i do, ladies and gentlemen. who are you picking? you're the expert. >> i think kentucky. i think duke wins their game
handily over michigan state, and i think coach krzyzewski gets 2-point win, 71-69 against kentucky. david: hard to go against coach k. talk about baseball, we have an interesting situation where the commissioner of baseball, rob manfred is open to the idea of betting in baseball. that's been a verboten since the beginning of baseball. what's changed? >> everyone is starting to realize the dynamics of it. they're in a business, in it to make money, and i think that it's been said already, mr. silver from the nba mentioning bring it from the underground to the sunlight, let's regulate it, tax, it let's get it right. it's happening in the u.k., we can do it here. liz: breaking news in the last hour, kenny. i'm not sure you heard that this broke in the last hours,
disney is investing 250 million dollars in draft kings, that's huge, that values it at near a billion dollars. there is so much money and legitimacy going into the operations? >> there is, fantasy sports is great. that is good for the industry for fantasy. it continues to grow and get bigger and bigger every single day. hot roster is not in the same league as those two were in. format, i love it that people are investing in their business. david: just to put a figure on it. it's estimated $139 billion every year is waged illegally on sports. don't you think that the would -- even if they don't get 20% of that action, it would be about 30 billion dollars. >> yeah, it's a ginormous industry. the numbers i'm seeing 600 to
700 billion dollars wagered. it continues to grow every year. liz: kenny, great to see you. >> good stuff. enjoy the final four. liz: speaking of baseball, this season is a huge one for the league's new commissioner, rob manfred. david was talking about him. there are a lot of choices that need to be made as the sport moves to a more updated model, including the inmarket live streaming of games. he spoke to our maria bartiromo and talked about the role of technology in sports. >> remains a positive one, you have to remember we play 2430 games a year and average 30,000 fans for each of the dates. it's a lot of people. but to keep those people, we feel we need to move with the rest of the world, and technology is the key. we have a huge asset in mlb advanced media. a great technology company, not just the website, and we're trying to build enhancements that allow people to enjoy the
game both on tv and in the ballpark, with a deeper understanding of the game. not a distraction from the game, but more understanding of the game. >> and it's also really an effort to make sure that you're seeing fans engaged and using social media. >> that's correct. >> you've got that also. >> social media is a huge parta of the effort, and another place where obviously we need our players to engage. social media is compelling when you give access to players, which is what people want. >> are you going to start streaming the game live in the fall? >> we will stream the postseason live as we did last year. we're currently working, we stream outer market games right now, and working on getting an agreement to stream our games all season long in market. david: this is the weekend when it all begins. catch the rest of that interview sunday 10:00 a.m. eastern on the fox news channel. liz: hockey season is still going on. david: that's true. a lot going on.
hockey, the final four and mlb. what's not to like? liz: monday is going to be an interesting day to see how the markets finaly open and react to the worse than expected jobs number. david: have a wonderful holiday weekend, everybody. "the willis report" is next. gerri: hello, everybody. i'm gerri willis, and this is "the willis report." the show where consumers are our business. chrysler ordered to pay one of the largest jury awards in history. $150 million to the family of a 4-year-old killed in a crash. the case raises new questions about the safety of one of the most popular cars on the road. forget what the white house says, new employment numbers show how weak the economy is. >> obama-nomics isn't working. only 126,000 jobs created. gerri: also the irs ordered to release the list of tea party groups it targeted. it will comply? a self-driving car