Thats certainly good news. When you talk about marching higher, thats exactly what the stock market has done over the past two years since two years ago today, on this floor, when the Dow Jones Industrials dropped some 635 points after the Ratings Agency said forget it, no more aaa rating for the United States because it truly felt that because we had raised the debt ceiling, but didnt make the spending cuts, that this country was going to the dogs, and guess what, look at what the stock market did back then. They fell dramatically, as i said, dow jones fill 635 points issue but it was the percentages here. Nasdaq fell dramatically, and, of course, you could say it is what happens today is not that big of a deal. Its just down 47 points, but the downgrade be damned as they say. Okay. Get got to get to the floor show, phil, and imex and cme. Ben, two years ago, we were here together, and at the time, people questioned what was happening with this. I look at that and say, look what the markets have done. We have a chart from two years ago, a steady march, double digits per scene tajes higher for the dow, nasdaq, and s p. Im sure they feel confident in the quality of work, but the market moves on. Truth be told, the fact of the matter is the downgrade had an effect on the bond market, but it also drove people to invest in equities wisely enough. If you had not made that choice two years ago, the stock market is a better investment. Liz its interesting because, you know, back then, they cut the aaa rating to aaplus. Guess who else is in aaplus today . France, the aisle isle of man, austria. A place you want to go to, isle of man. Liz tax dodginess over there as they say. Big money. Liz they say its going to be awful, and today, i here nay sayers saying somethings about to happen. Well, the tendency for any professional trader is to try to look for the worse possible scenario. Ive been looking for a correction in the market that just has not come, frankly, and im willing to admit to the fact, but the fact of the matter is look at the big picture, and the big picture says the money in the bond market stopped going in, and a lot of it is now all coming out. The flow numbering seen from over the weekend suggests money is coming in. Theres a dismal report on friday liz talking about money coming from bond funds going in now, finally, to equity funds. Better late than never. If you stay in bonds, the beating you take is just getting worse. Its in the a bad time to buy equities right now. There should be a correction for the health of the market, but to the upside, theres upside potential in fact market. As earnings get belter, pe ratios stocks trade on are cheap as well. Theres a reason to take the money out of that equation and put it on our side. Liz go back to work and ill go to gary. Thank you. Liz youre welcome. Like, im losing money, liz. Let me get your perspective because duoyears ago, the one interesting thing that happened and now you see where it is today, and it has certainly fallen back. This country is on much firmer footing, is it not . Oh, it certainly is. Well, you know, again, back to the pricing on the gold. We saw it today drop just a hair under that 1300, but it came right back up, and i think theres going to be a large correction on the upside, on gold, as we saw two years ago. Well, two years ago was not a correction, but a speculation on this. Well see gold continue to slowly rise up now. Remember, its considered mostly a currency war more than anything else. Theres the decorative side to it, but its based on the currencies and whats happening. We saw the dollar today dropping again, and its holding underneath there. Theres no real push. Theres a lot of lack of confidence in the market as your prior guest was saying. Everybodys looking for that huge, huge correction, when its going to come, nobody knows for sure, but were all bracing for it. Liz well, it might not be huge. It might sort of be water torture just a single dripper, a drop here and there, and tom riley, looking at whats happening in the energy complex, theres a little to the downside today. Yeah, i know. I think weve taken a break here. Its quiet here today. The volumes were not there. The traders in europe start the holidays in august that happens every year. I think, you know, above a hundred, and we tried to go through 110, up to 109 and change and pulled back. I think we took the reigns between 90 and 100 and moved it to 100 and 110. I think well sit here for a week and digest whats going on, and, you know, if we go higher, its on news from the middle east, and if we go lower, its on the selloff in stocks. Liz okay, listen, theres breaking news that at least the yankee haters among you might like. Arod has been suspended for the rest of the 2013 season without pay and all of the 2014 season. Now, this was not unexpected, certainly. Major League Baseball and the yankees apparently had an inordinate amount of evidence that arod participated in using performance enhancing drugs, but the deal was handed down. The deal that came through, if there is a deal, because arod was digging heels into all of this was simply that he would not cop to a lot of things, and it is effective thursday, august thursday, august 8th, when it is well, thats today, isnt it . Isnt today august 8th . Oh, its the 5th. Oh, thanks guys. They were like, you scared me. Youre a yankee fan; right . Im a yankee fan, a new york fan, i met Alex Rodriguez on several occasions. You know, new yorkers are fed up, i have to say. Liz i completely think thats how they feel. They want to see the oldschool players where you actually won because you were that good. Right, all i can say in his favor is he loves baseball. You know, to be banned for life; right . Liz its not, though, thankfully, not for his sake, but 2012 is done, 2013, and 2014. After that he can play. I was doing apple. Liz thats more important to the viewers. Thank you for the baseball update. The update on apple, a big deal here for apple today because the administration now stepped in and overturned u. S. Trade panels decision that really has a more favorable effect, and this [inaudible] u. S. Trade representatives vetoed the ban, and now way were seeing is that u. S. Customers will be able to have access to the older phones and the like, u. S. Trade representatives said its great for the u. S. Economy, great for the u. S. Consumer, and, ultimately, good news for apple too. Liz in fact, we have coming up in the program, a tough columbia law professor who is an expert in all of this, and were qoing to have him weigh in on this because the last time an administration in the United States jumped into a patent fight like this was way back in 1987. Is it ratings is it a probusiness move for the Obama Administration . Well see. Nicole, thank you very much. All right. We have to get to peter barnes because as we mentioned two years ago today, the u. S. Got downgraded when it came to the Credit Rating, and there was a special reason for it. We raised the debt ceiling, but the impression on behalf of s p, wrongly, if you look how the market performed since then, was simply that there were not enough cuts at the time. Guess what . Its all coming to pass again. Peter barnes in washington, d. C. When does the clock run out . When does the clock run out, liz, did you say on the latest debt ceiling . Liz yeah, uhhuh. It already ran out back on may 18th, and it is but, as you know, the treasury is doing a special and extraordinary measure to stay under the debt ceiling by not funding federal pensions and pensions for federal employees, not using this Foreign Exchange fund that the treasury has, so for now, we wont well be able to pay the government can pay bills probably until after labor day, according to the treasury, probably into october, possibly november, and i do want to point out, though, that standard and poors feels a bit better about the partisan divide here in washington now. Not that it wont continue, but if it does, its not as potentially damaging, especially after the budget deal at the beginning of the year to raise taxes and raise the debt ceiling to may 18th and now longer. In a new report last month, s p Analysts Expect repeated divisive debates over raising the debt ceiling this fall, but they expect them to conclude without provoking a sharp discontinued cut in Current Expenditure or debt service, critical to global investors, and, quote, the stable outlook indicates our view that the Downside Risk to the aaplus rating on the u. S. Have receded to the point that the likelihood that we will lower the rating in the near term is less than one in three. In fact, s p analysts are more worried about the improving deficit picture, and that it will create complacency in washington about tack 8ing tackling the nations debt problem. Liz . Liz peter barnes in washington. We could see this again, although, of course, we realized, the first time its a shock. Second time, people say, yeah, weve been here before, seen it before. Two years ago, all the traders dealt with the fall of the Dow Jones Industrials of more than 635 points because a credit Ratings Agency, whose reputation already on the line after the financial crisis making bad calls back then, s p said that our credit worthiness here in the u. S. Was not up to snuff. Forget that warren buffet came on fox business right away and said, yes, it is. The fact is ratings agencies, do you believe them or not . Well, since the financial crisis, a brand new one sprouted up,croll. The president is going to join us to talk about what they do differently and now they feel about s ps calls. The president of croll coming up. Were live from the new york stock exchange. The bs used double miles from their capital one venture card to fly home for the big family reunion. You must be garths father . Hello. Mother. Mother traveling is easy with the nture card because you can fly any airline anytime. Two words. Double miles this guy can act. Wanna play dodge rock . 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Do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. Do not drink alcohol in excess with cialis. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, seek immediate medical help for an erection lasting more than four hours. If you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. Ask your doctor about cialis for daily use and a 30tablet free trial. Io liz two yearing ago today, it was actually tonight, so august 5 th, a friday night two years ago, and we saw the flashes that the s ps Ratings Agency cut, for the first time, the credit worthiness of the United States from aaa to aaplus. Look and see how the cable and broadcast networks covered this breaking story. Watch. Standard and poors downgrades the u. S. Governments federal debt. The Credit Rating agency, standard africanamerican poors, downgraded the Credit Rating for the First Time Ever tonight. The longer term issue here for the United States will be more psychological than well see impacted in the financial market. Lets go overseas to see how investors are reacting there. The Credit Rating clippedded, aaa, best in the world since 1917. Not anymore. Liz okay. Everybody panicked, but guess what, was it really the correct call . We are joined by somebody who works at the Ratings Agency that sprouted up after the credit crisis, kroll. As we see what the markets did back then, since then, they have have jumped exponentially. Was that the right call . No, the wrong call for a couple reasons. First of all, look at the u. S. , its the reserve currency of the world, has been the reserve currency of the world since the 50s and 60s, and continues to be the reserve currency of the world, so you have to look at it in a different way. Secondly, i think that they were looking for redemption after the crisis. Liz you mean s p . S p, looking for redemption and thought this was good will, but it backfired. The u. S. Treasuries continue to be, as they were right after they downgraded, continue to be the ultimate safe hain. Liz but you used to work at a Ratings Agency, fitch . Fitch, yeah. Liz what you do differently from there than s p now that youre at kroll not to make that mistake . Well, this was just one of many moves by s p that, frankly, has been inexplicable. I think they really made bizarre moves that have really scared the market, and i think that one of the things that has to happen is to bring credibility back to the market is that youve got to, first of all, act like a grownup, behave like a grownup, but do your homework, do diligence on things you rate, and give the market enough information that they can evaluate your analysis and come up with their own conclusion, and either agree or disagree with you. Liz the criticism that lies in the model of the ratings agencies in that they are paid by the very firms they are covering. That was not necessarily so with the United States, not states t when you say they were things that scaredded investors, dont you think that ratings agencies shouldnt be in the business of worrying about whether they scare investors, but they just have to get it right. Well, i think if you give investors information and that scares them and that. Nformations right, thats a if inconsistency and bizarre movements when s p pulled the deal, the commercial Mortgage Backed deal on the eve of its being offered to investors changing the criteria, that scares investors in a bad way because that erodes confidence in the rating agencies, and the fixed income markets need confidence in the Ratings Agency to work properly to be liz now, when he looks and sees what the market has done since two years ago today; right . The s p, the nasdaq, jumped, 40, 50 , unbelievable. Does that give anybody confidence in how the big ratings agencies from prefinancial crisis really make incorrect calls . Our credit war thyness was not up to snuff, aaplus, on the same level of france and isle of man, i just dont get it. Its interesting. You raise another issue, and that is you have to be able to explain the rating in the context of other ratings. Liz right. Its fine if they downgrade the u. S. For the appropriate reason, but back then, treasury secretary geithner said youred moo eeling is flaw your modeling is flowed, i believe, by a million or more dollars. That gets 20 what happened that to what happened that day. Sent analysis to treasury, treasury sent the fact they were off by a couple trillion dollars and rather than taking the weekend to evaluate their model and their analysis, they came out with a different analysis and went ahead with the downgrade, which i think just made people scratch their heads even more. I think they werent able to convincingly explain to people why finland was aaa and the United States was aaplus, why they continued to rate auto deals aaa. Thats auto loans, you know, pool of auto loans aaa, and the government was aaplus, and in order to downgrade the United States, you have to be able to answer those questions, and it has to be a rational answer. Liz gym nadler of kroll, and its fascinating to see what the free markets does with new Ratings Agency. I hope its going well for you. It is. Liz jim nadler, president of kroll. Thank you for joining us. You know who else is aaa . Leech stein, lux upberg, and the United States is not. If you have time warner trying to watch cbs, the summer let down. Its rare for a network to launch series that do extraordinarily well in the summer. Its a testing area when viewership is slow, but guess what . Cbs had just done it with two shows that were doing beautifully, and now what does it mean . Will they lose out from their winners because of the deal and the nondeal with Time Warner Cable . Stay tuned, were coming back live at the floor of the new york stock exchange. If youve got it, you know how hard it can be to breathe and man, you know how that feels. Copd includes emphysema and chronic bronchitis. 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Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. Zero heartburn. Investors could lose tens of thousands of dollars on their 401 k to hidden fees. Is that what youre looking for, like a hidden fee in your giant mom bag . Maybe i have them. Oh thats right i dont because i rolled my account over to etrade where. Oah. Okay. They dont have hidden fees. Hey fern. The junkrawer . Why would they. Is that my gerbil . You said he moved to a tiny farm. Thats it, im running away. No, no you cant come [ malannouncer ] etrade. Less for us. More for you. Liz talking hollywood on the floor of the new york stock exchange. Unusual to roll out a series in the summer, they use it as a toedipping testing ground, but now theres under the dome, and ray donovan, theres legions of fan, and then cut. Time warner cut because they could not come to a deal with cbs, cutting the program, its black if you live in certain cities and want to watch show time and cbs. Dennis kneale on the story. Time warner and cbs down. Yes, unfortunatelily, under the dome, a Great Success for cbs, but wait until you hear the latest out in the past hour. Time warner cable out with a bold proposal. It says maybe cbs ought to sell itself directly to cable customers ala cart at any price they want to charge, and time warner collects the money and passes it all on to cbs. Thats a put up or shut up offer from Time Warner Cable saying cbs should get back on air and agree to new terms and extend old ones, and if not, heres the bold part, cbs should sell itself, ala cart as a separate channel viewers pay extra to get, quote, this way, time warner says, rather than debating the point, we allow customers to decide for themselves. That offer came in a letter an hour ago from time warners ceo to cbss chief. Were awaiting a cbs response, its basically a double dog dare ya for cbs. The network complains they have the most watched show on tv, yet it gets less than a dollar a month from home from Cable Systems compared with 5 for for espn with onefifth as many viewers. Would cbs dare go out on its own and test whether consumers are truly willing to pay extra for cbs shows also delivered free of charge over the air . Nobody gets them that way. Thats a big if. Well see if the eye blinks on that one. Cbs says the blackout has been a mere flesh wound thus far. In new york, l. A. , detroit, cbss audience in prime time, friday to sunday, is the same as it was a week ago. Cbs just put this release out says its been ahead in the ratings all season so a dip wont hurt it, and august is a slow month away. We had a chart on that, but cbs says its audience in the three blackout markets was up hugely for the golf championship. We have another chart on that. Up 150 among all viewers, and even in local news from friday to sunday, ratings are up 9 in those three blackout cbs markets. Now, thats because Time Warner Cable doesnt have a hundred percent of the Customer Base in those three cities, and only reaches some of them. So far, liz, cbs not feeling any pain, and that means that this dispute could yet go on. Well see what cbs says to the latest ala cart offer, really is a gauntlet thrown down here by Time Warner Cable. Liz . Liz i would think. I got two words for everybody, rabbit ears. Yeah. Liz stunning, dennis. That was in the last hour, keep us posted on everything thats happening. As we mentioned, both stocks down now. Coming up, apple, a huge part of the s p 500. By the way, the nasdaq, too. We dont want to say it, but about to turn positive, looks like it. In any event, coming up here on fox business, listen, huge news over the weekend where the Obama Administration decided to overturn a ruling that was against apple and in favor of Koreas Samsung regarding certain pa tents. This highly, highly unusual, coming up, weve got a round table discussion on this including a top columbia law professor and a Top Technology editor from mashbles to talk about what this means for apple, google, who knows, samsung as well, hammered today overseas. Stay tuned. Were coming right back live at the floor of the new york stock exchange. [ male announcer ] these days, a Small Business can save by sharing. Like carpools. Polly wants to know if we can pick her up. Yeah, we can make room. Yeah. [ male announcer ]. Office space. Yes, were loving this communal seating. Its great. [ male announcer ] the best thing to share . A datalan. At t mobile share for business. O bucket of data for everyone on the plan, unlimited talk and text on smart phones. 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Liz welcome back, as we said going into the break, the nasdaq turned positive, just one point where it took off, the nadz deck turning positive. Dow is lagging by 37 points, s p by two. Time for trader talk, surrounded by traders here, and, of course, one of our favori teddy, of seaport securities. If the markets were human, what would it be today . Tired. Just i mean, not tired in a negative sense. I think just tired. Im i know its hard to believe, but were up five or six weeks in a row making new highs, everythings at new highs, and i think, you know, i just feel like when markets went down in 2008 and 2009, after awhile, they are tired of going down and up. Liz marathon runners, when they are tired, they get a second wind; right . Is there a chance for that . Absolutely. Weve seen that repeateddedly over the last four or five weeks, but its based on the fed. Earnings have been bylaw. The economys blah. Liz S P Companies that reported have beaten on revenue. Yeah, but the bar, the bars been low for the second quarter. I mean, i think we all have to admit that. Yes, they have beat, youre right, you know, absolutely they have beat. I dont know they just markets come a long way in a relatively short period of time, its a great year, up, what, 2 the board for the popular averages. Liz close it here and, you know, you can close out your positions and be up 20 if you are long; right . Absolutely. If we had brains, sell everything and go away, go on vacation the rest of the year. Liz no stay here. Teddy on the floor. We have to get to apple because over the weekend, there was a fascinating move where the Obama Administration overturned a United States trade rep group saying that the patent wars that had gone out of favor against apple, he vetoed that. Lets get to the two experts today, pete with mashble, a senior editor, nice to see you, pete. Nice to be here, liz. Liz and joined by the professor from columbia university. Starting with you, professor, this is an usual. Theres not been an administration jump in and overturn a ruling since 1987, but the Obama Administration jumped in, ruled in favor of apple and against samsung. What do you think of that . Is this realistic . Could the Obama Administration said it would have hurt consumers. Do you agree with that . So this is a ruling thats a larger push on the part of the Obama Administration to reign in the patent system. This summer, they had priorities including cracking down, if you will, on itc and exclusion orders, orders that would prevent a company like apple from importing its phones. Liz its strange. The ban is considered political by some, but others say the Obama Administrations sticking up for app 8 and business and innovation. You know, i dont regard it as a political act. Look to europe, for example, the European Commission made similar moves, particularly, with respect to the patents at issue here, socalled standard impactful patents, incorporated in the technology of the cell phone, and everybody is on hook for the patent. Liz pete, get to the viewers to make them understand what was ruled here initially by the first ruling, and that was that certain older forms of the ipad and iphone could not be sold because they infringed on samsung pa tents. That was overturned. Are they overjoyed and cheering today . Definitely not. Liz livid. I mean, this is very much against them. They lost a billion in Market Capital overnight. Going to affect them in the short term. Its a billion dollar company, and they can endure the losses, but i think broadly, this might actually be long term not as good for apple as some people think. Liz why not . Viewed as american protectionism. As much as the ruling is a just ruling, a strong basis in just the Public Interest and not just regulation, its, i think, overseas, in many markets, and, remember, global companies, its going to be looked at as basically the u. S. Government sticking up for apple. Liz by the way, samsung has a ruling, very he said, she said, apple slammed down on one, but on other, samsung had rulings not in its favor. Definitely. They have not done well in europe in similar cases, the standard essential patent here is kind of called into question whether its essential, but the theres fighting in many countries, and samsungs taking more licks than apple lately, and that could be bad to the bottom line. Liz do we have a window into the administrations future decisions on intellectual property decisions . Well, it suggests they are ready to step up to the plate and make a push to rape in a system that, i think, some of have gone out of control. Particularly, when a small piece of a small component of a technology can be used, arguably, to block the entry or continued sale of a product all together, even when the piece of the product at issue is small. Liz when a Small Company has an idea of its own, and, clearly, its obvious that apple is very original in the ideas, and samsung, as well. Should that not be protected in some way, shape, or form . Their people came up with it. Sure, absolutely it should be protected, and the issue here is not about whether the patent was infringed. Its about what do you do once the infringement is shown . Do you get money . Arguably, samsung gets money in any event, but the question is whether you can, in addition, block the product all together, and thats a bridge too far in the view of the administration. Liz pete, we ignored one thing, and we shouldnt. Thats google. Theres a motox. You guys test this stuff and look at it. Could it provide the real challenge to both samsung and apple . Motox is a good phone. I dont think its a game changer for google. It has very innovative parts to its marketing, that is its made in the usa and people can get it within four days in a customized version. Is there a demand for that . Well see, but i dont see it being a huge hit, but there could be a good word of mouth phone and a sleeper hit in the long term for google. Liz all right. Waiting to see once its on the shelf how quickly it sells. Great to have you, columbia law, mashble, great expertise. Thank you very much. Okay. When we come back, the markets, of course, weve shown you this hour how far theyve come, double digit percentages since that fateful day two years ago exactly to the day when s p Ratings Agency cut the aaa rating and credit worthiness of the United States. Coming up, we have a market watcher. You know the name, minonville, the founder, Todd Harrison and what worries him. Hes the worry wart index on the market. Stay tuned. His perspective coming up. If you have high cholesterol, heres some information that may be worth looking into. In a Clinical Trial versus lipitor, crestor got more highrisk patients bad cholesterol to a goal of under 100. Getting to goal is important, especially if you have high cholesterol plus any of these risk faors because you could be at increased ri for plaque buildup in your arteries over time. And thats why when diet and exercise alone arent enough to lower cholesterol i prescribe crestor. [ female announr ] crestor is not right for everyone. Like people with Liver Disease or women who are nursing, pregnant or may become pregnant. Tell your doctor about other medicines youre taking. Call your doctor right away if you have muscle pain or weakness, feel unusually tired, have loss of appetite, upper belly pain, dark urine or yellowing of skin or eyes. These could be signs of rare but serious side effects. Is your cholesterol at goal . Ask your doctor about crestor. [ female announcer ] if you cant afford your medication, astrazeneca may be able to help. And this park is the inside of your body. See, the special psyllium fir in metamucil actually gels to trap some carbs to help maintain healthy blood sugar levels. Metamucil. 3 amazing benefits in 1 super fiber. Liz what a difference two years makes. It was this day two years ago where the dow fell 635 points due to the downgrading by the s p Ratings Agency today. Down over 30 points, but weve laggards and leaders. Nicole has that. I remember it all well, and its a much easier day on wall street today than back then. Take a look, liz, at name under pressure on the Dow Jones Industrials. The dows down 40 points right now, led lower by United Technologies and travelers, but the truth is that most of the dow components have been lower all day long. Though, the market breath is improving some going into the closing bell, and other names under pressure, yelp, jcpenney, but winners are blackberry, tees la tesla and smith and wesson. A lot of winners. Back to you. Liz thank you very much. Nicole says its an easier day today than two years ago when the markets fell precipitously after the u. S. Credit Rating was dropped from aaa to aaplus. Aaa is outstanding according to s p, and aaplus is excellent. Its vague. I mean, is there really a difference between outstanding and excellent . Theres a difference two years later on what might happen. We are joined now by Todd Harrison, founder of minonville. Great to see you, todd. Great to see you, liz. Liz interesting two years, two years ago, did you think the dow, nasdaq, and s p would jump after the credit wore worthiness was questioned . I dont know how many worthiness is in it. Whatever cent they had, i think, is long gone. Im not that surprised, but whats interesting, at least to me, is the difference between a stock stock market rally and economic recovery. The stocks at alltime highs in many cases, but the economy is not doing well, some 2 gdp growth, and investors now, once upon a time, the greenspan, and now the ben bernanke call, and thats dangerous. Liz describe of the ben bernanke call as you see it. What would you do to protect yourself in advance of what you believe happens, and is it a correction . I hate using what do you think . Ive been wrong, too cautious this summer, but i think that, you know, when you see consumer confidence, that levels last seen in august of 2007, i think, you know, you at least have to Pay Attention to that. Theres a lot of folks out there talking about the great rotation back into stocks, and meanwhile, i think john q. Pluck saw the movie with sabers burnedded at the bottom, investors burned at the op, and the fatigue is wearing thin. If we get through august, september, october without a meaningful come up, theres a meaningful anxiety in the back of the year. I dont know we get through there without a pull back. Liz you mentioned anxiety, and thats psychology. Market psychology is important because of the herd moves dramatically and quickly. What other met tricks do you look at to give you a sign of what the markets going to do. Well, theres a lot of moving parts in psychology, but i want to look at the world in a sociolens, and much like i talked about with you back in 2006, in december 2007, that the markets are at alltime highs, but nobody feels its an alltime high, and i think that chasm between perception and reality is pretty important, and it bears noting. Whether its arod or stevie cohen, or braun, all the things we see in society where the rejection of wealth, i think that has a potential to manifest through financial assets. Liz fundamentals and Technical Analysis account for what . A lot . Thats the reality, isnt it . Thats the lets remove emotion and look at the numbers. Of course. I think thats a great point. Four metrics, fundamentals, structural, psychology, but this is not our fathers stock market. Theres a very, very heavy hand of the government, 7 o of the vol newspaper here is 70 of the volumeshst. Look at the met tricks, what is important in terms of ranking them . Psychology is far and away number one. I think that structural is number two, whereas what was rates and credit, but now its tapering, expectations, things of that nature. Fundmentals is number three, pulling through earnings season, and technicals is number four. As long as we stay above s p s p1675, the bears should feel okay. Liz the massive algorithm computer trades that gyrate the markets, and, boy, if youre not on the top effort market, and just an individual investor, but speaking of which, they are interested in what stocks ceo perts look at to give an indication of what the markets may do in the future. You got three in the same sector, social media. Looking at the stocks, and price action in yelp or in lincoln liz both hitting extraordinary highs. Even facebook. I Pay Attention. Im not involved in the names, but in terms of predictive prowess, i think the financials are really the sector that incaps lates our financedbased economy. Theres performance by the regional banks against moneycentered banks. Watch the Money Center Banks because they are a leading indicator for the market. Lizly wonderful to see you, Todd Harrison, and i wanted to ask you, two years ago today, what were you doing as a trader . When fox business launched, todd was a regular and sat with the computer screens k like you see behind us right now, but what kind of trades were you making back then . Well, you know, same types of trades im making now, get in, get out, be humble about it. Be humble, the market does it for you. I talked to a lot of people for a long time, and this is a tricky market that ive seen. Theres no shame in admitting its hard. Only shame in pretending its not. If you have capital and youre not sure, trade in between or preserve until you see the whites of the eyes. Liz good to see you, Todd Harrison, founder of minonville. If you have not seen the site, check it out. The nasdaq moving slightly higher, and when we return, looking at the winners. Stay tuned, were coming up on the closing bell, a few minutes away. The clock, six minutes away. Well be right back. Stay tuned. His Small Business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. Produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less . Ahh, oh [ garth ] great businesses deserve limited reward heres your wake up call. [ male announcer ] get the spark Business Card from capital one and earn unlimited rewards. Choose double miles or 2 cash back on every purchase every day. Whats in your wallet . [ crows ] now wheres the Snooze Button . Ounce is great because the freshness lasts for weeks in the drawer. Why cant everything stay fresh that long . [ male announcer ] how do you get your bounce . [ man ] lasting freshness. [ indistinct shouting ] [ male announcer ] time and sales data. Splitsecond stats. [ indistinct shouting ] its so close to the options floor. [ indistinct shouting, bell dinging ]. Youll bust your brain box. All onhinkorswim from td ameritrade. Liz just a little over three minutes before the closing bell rings. Nasdaq holding on to a tiny gain here. Lets look at the nasdaq winners. Tesla tops the list of the this is an alltime high that tesla is touching at the moment. Micron technology, mu. Traditionally a volatile stock. This name is up 113 yeartodate. We have facebook, the alltime high for facebook, 39. 32. It hit it earlier today. Well see if closes there. Were looking at winners for expedia and netflix. What a day two years to the day after the S P Rating Agency cut u. S. Credit rating from aaa to aaplus. That was two years ago. Weve seen where the market has gone up. Dramatically over the last two years. Adam shapiro joining me in for david asman. Take us to the bell. Well be back with you in a minute. We want to go to Nicole Petallides on the floor of the new york stock exchange. Facebook still on a role. Trading at an alltime high, nicole. A lot of people were disappointed when they saw the stock going down, down, only 17 1 2 bucks. Only to see it surpass the ipo price and 39. The target is 40 bucks. What about hbc . Theyre down 4 . At love banks didnt do well. Hbc in particular. I hope you like teslas. My brother brought one, the doctor down in atlanta. Theyre hitting alltime high. Up 54 . Yeah. It is continues to do so well. That model s got a near perfect score. Continues to be touted by wall street with one an after another. Great performer. Once my brother gets him in september, all bets are off. Hey, fossil is tumbling. Im wearing fossil. Mice watch, adam. What is happening a lot of analysts are doing checks. Sales will probably be slower than expected for fossil, not only for fossil but accessories. Analysts getting on board and thinking fossil will not be a great get. It is down 5. 8 . Nicole, let me ask you real quick, s p over 1700 will we hold it . What are the men and women on the floor telling you. What happens they get nervous. They have six straight weeks of gains for the s p and the dow, adam. They dont necessarily want to buy now because you might be at the top. You will take profit but dont short it. You dont want to short it to be caught the wrong way. Nobody is betting down. A lot of these stocks are looking kind of pricey there were concerns late summer, early fall. Dollarcost averaging where you take some money off the table. You cant get too greedy because then youre a pig. [closing bell ringing] adam Nicole Petallides. The bells are ringing on wall street. Well look how the stocks are finishing. We dont quite just yet. The dow is down 45 points. S p 500 holding above 1100 but down two points. Nasdaq going into positive territory. Up two points. Want to look at the front page headlines. The u. S. Nonmanufacturing sector picked up seem in july. The ism nonmr. Ing index Manufacturing Index rose to 56. Highest since february. Time warner suggests a immediate resumption with quote, economics pay greed to during negotiations. It also proposed that Time Warner Cable carry cbs stations on an a la carte basis. Cbs havent yet responded. 12 players accepting a 50game