Stock exchange. It will happen ahead of the bell. Moving higher. Liz moving higher on speculations that the billionaire investor will make a big investment writing to clients asking them to commit a billion dollars to two new funds to invest in a major u. S. Company. Liz people think it is fedex. An economist and former finance minister was named to egyptian interim prime minister. Well an Opposition Leader will assume the vicepresident see. Pledging 5 billion in age eight. The united emirates offered 3 billion. Ashley barnes and noble is at a turning point. Resigned from his post in the companys board. The resignation came shortly after the companys earnings mess and the decision to exit the tablet market. After the bell starts right now. Liz yes, it looks like a 13year high for the nasdaq. Lets get to todays action. Managing director is telling investors to brace for more volatility. In the pits of the cme. Look, i could start with him, but both of you can weigh in. The only volatility is to the upside. Liz over the last for five sessions that has been the case, but if you look back from the beginning of the Second Quarter through to todays close, the intraday swings in the market, until recently they have been to the plus side. Them into cited. The Second Quarter was a horizontal move from the beginning to the end. The beginning driven by earnings , positive employment numbers, strength in housing and autos. We are seeing that leg up that you mentioned before i came on. That is very susceptible. Lots of headline risk out there. Ashley the fed minutes out. The last three times the market has sold off. What are you expecting . More intraday volatility, dislike the other guest said. Right now the rate does seem to be to the upside. However, a lot of people are on the sidelines. The market did correct itself. We do know were coming up to a big resistance. And most traders are meaningfully higher than that. We need to see compelling evidence of the earnings reports. Liz here we are above it. You look at that. Im just wondering what you said is very true. Good news is finally being taken as good news until it is and and people realized, the better this economy gets the sooner we might see tapering which should not be it should not be the worst thing in the world certainly. Actually, from a purely academic standpoint it is actually very good news to hear such freeflowing discussion about tampering because it is a clear indication that the economy has caught the sustainable traction that we all altman the want. I mean, any of us really want to have to depend on liquidity that is being increased by the Federal Reserve for the market to find buoyancy. We want organic growth, topline and bottom line, revenue growth, real growth in the economy. As long as we see more of that the greater the likelihood is that we see tapering. Ashley let me follow up on that. With rising rates, as we have seen what the talk from the fed easing its monetary policy, how does that affect your Investment Strategy . Basically, we are still by any historical standard had very, very, very inexpensive rates. Even though just recently cents the last two weeks we have seen a fairly sharp move. We have over the last two sessions seem moderation. It is not a one directional trade. We probably have seen the lows for the time being. That said, even a minor adjustment in rates moving higher should not provide the headwind that many people i anticipating it will for equity markets. Equity markets can move up, even in an environment where Interest Rates are climbing higher. We have seen this repeatedly going back to 1982. Several cycles of low rates moving higher. That has not been said. If you continue to see Interest Rates rise, that is probably not going to be terrible for the rate of inflation that is occurring. It will probably be very therapeutic. Liz seeing inflation. Certainly in china we get these numbers that like other than expected. Just in the last hour or he was saying avoid brazil because they used to export to china. Now its not such a great market how how does that piece of the puzzle fit into the u. S. Economy . Thats a big question because we all worry about china. They came out hotter than expected. A little bit softer than expected, but were more worried about brazil, mexico, korea, the emerging markets. Our dollar going higher will really hurt which might be the missing puzzle right now that will enhance its market. I am constructively bullish. However, the emerging markets are much bigger than most of us are giving it credit for right now. Ashley all right. Where did you like what do you like in particular . Either any particular that you like . Well, i have been harping on these for quite some time, as you well know. Housing, financials, autos, all three of them have been real stalwarts, real bowles in this move. They have outperformed the broader indexes and are likely to continue in spite of the fact that we will see the shift hire. All of them speak to a strengthening domestic economy that is really the flagship of the global gdp story. The u. S. Consumer continues to grow and confidence in demand. Is driving these three sectors and should continue to do so. Liz all of these charts look exactly the same college is a little bit of jagged edge. Again, the big question now becomes where is there a cheaper opportunity and is it emerging markets . To weirdo we . Everyone has an opinion. Emerging markets clearly represent a very risk on profile for investors at this stage of time. Part of that is because of the concern over Global Demand, Global Natural resource demand, cheap manufacturing demand. You mentioned brazil. That is a classic case in point. The other guest mention several other emerging market economies that are heavily dependent upon the Global Demand scenario, and it is, quite frankly, not robust around the world. As a direct result, the u. S. Economy, which is maintaining some sort of competitive advantage is a direct result of the weaker dollar visa the quantitative easing. Theyre is a window on that, and i completely agree with the other guests in that the stronger the dollar gets the less competitive advantage we have in terms of manufacturing and exporting, so we need to kind of capitalize on that. Liz good to see you both. We will check back in with you in just a few moments. Again, it looks like a win, a 13year when for the nasdaq. Ashley it hung in there. Internet stocks came on a tear soaring to new highs. Will the upswing continue or has the rally run its course . We have your top plays next in our second half set. Liz the market seems to think that fed tapering will begin this year. Are they right, especially considering what i just talked to our guests about in a better economic data. Who better to ask that someone who sat inside that decision room for more than 20 years. Former fed president of minneapolis joining us in a fox business exclusive. And we want to hear from you. Yesterday after the bell barnes and noble ceo resigned as the company continued to struggle. Will the even exist five years from now . Blog don to facebook and we will read your answers later. [ male announcer] surprise youre having triplets. [ babies crying ] surprise your house was built on an ancient burial ground. [ ghosts moaning ] surprise your car needs a new transmission. [ coyote howls ] how about no more surprises . Now you can get all the online Trading Tools you need without any surprise fees. Its not rocket science. Its just common sense. From td ameritrade. Liz the website that gives you restaurant reviews is launching a brand new platform, and the news is boosting stock today. Back to Nicole Petallides on the floor of the New York Stock Exchange for details. Reporter like this hockneys more of a boost. Up 97 this year, and yet today once again hitting a new 52week high on the news that not only will you be able to review restaurants, but also now you can order from your favorite restaurant locally. It is a big deal. You go one yelp, look up your favorite restaurant, order an item, and that is what they are breaking into. They can deliver dry cleaning. Theyre working with a local business and bringing it to you, so this is a new yelp platform, and this is the first step in their plan. Obviously a big deal. The stock is and how a new high. Liz thank you very much. Ashley s p futures closing or very shortly. Lets head back to the pits of the cme. Are they telling us . Theyre telling us that we are not complacent, not oblivious to the market risk, to the problems of the world. What theyre saying is that the market is doing a fantastic, a splendid job at just compartmentalizing every issue and not making of reissue out to be some type of disaster, some type of macro catastrophe that just takes 100 points off the dow and s p 500. That said, we are concerned with tomorrow and earnings season, but other than that it does go painfully hire. People are on the sidelines and cautiously optimistic. Liz will take that. Ashley we will, indeed. Thank you. Internet stocks seeing a good first half of the year. Hitting an alltime high this may and amazon reaching a peak. Can we expect this runup to continue in the second half of the year . Liz joining us now with his second half set up for the internet sector, managing director and analyst for rbc Capital Markets. We have started each one of these segments by looking back to the first half and seeing how these names have done and then comparing it to how you believe that it will do. Is that an appropriate question, delineating the middle of the year . Oh, i get your point. A little bit of arbitrariness behind that. We have seen for the most part out of the internet sector, a large cap internet sector, for the most part very good Stock Performance year today, one that has been better than that of the market as a whole. A lot of these stocks are not meeting against our price targets. We still like some of these assets. Liz what is it about them . There are many different ways of looking at these, spider technology, or you can look at internet and see how they do. Is it fair to makes up the amazon of the world with Technology Stocks like intel . There are some very different elements to these models. Online advertising, online retail, online travel, almost the consumer oriented. Almost all of them are consumeroriented, so plan on Consumer Discretionary and also off of the big secular shift of almost all things online, and a couple of these companies have specific drivers of of mobile, a new push into groceries, so there are some companies specific factors that make them hard to compare. Liz lets get to your picks. Priceline, a stock that has already been on a tear up 42 yeartodate. You think is still has room to grow . Youre right. The stock has had a big runup. We were very enthusiastic about the stock at the beginning of the year. That is yes and has to taper off. Were close to an alltime high. Last reached in 99, 2000. Has been a long round trip for this name, but the execution has been very good, id say, over the last five to seven years. They account for 10 percent of global hotel sold worldwide. We think that market share can continue to grow. Highmargin business generates a lot of cash. We continue to like this. Liz it sounds like you pay to their real names in each area. That would mean we need to get to amazon because it has been the stalwart and the shining star in the business that it does, and now they are expanding into other things that have caught your eye. Already about 32 percent of the past year. On top of that, it has a pricetoearnings ratio that seems rich. Youre absolutely right. And you set it up correctly. Priceline, the Global Online travel. Plus amazon is surprising people, including myself and some of these new initiatives that have really taken hold. Amazon web services, kindle devices. Those are probably at the top. Also advertising revenue. That multiple is extremely high, requires very high growth assumptions. We think this is actually the most attractive stock from a pure growth perspective. Greater valuation risk. Liz and some of the smartest people in the room. They just for the debt deal with viacom. Things like that, the amazon prime relationship. They are doing things that broaden their business in ways that seem logical. The only risk that is implied in that statement is maybe theyre spreading themselves too thin. I worry about that as somebody who my focus on that as a risk with the stock, but so far they have shown an uncanny ability to get about 80 percent of their investments right. Ashley interesting. You like netflix. That is up over 160 yeartodate. Is it too late to get in on this . I dont think it is too late, but it is further down the list. If you want to get into the more controversial names, facebook, netflix, i think there reached what i would call a state philosophy. There are now more subscribers to more entertainment video subscribers than any other service in the u. S. They have surpassed hbo. With that has come at the margin greater leverage with the studios, so they are able to sign and announce these deals with cbs, pbs, dreamworks, fox. And they become one of the default video options for 30 million consumers, and we think that number in the u. S. Itself will reach 40 million within two years. Liz impressive. Obviously Capital Markets analyst. Thank you for joining us. Thank you for having me. Liz one of the best, if not the best. Therefore we will put him. Check that out. Timing the tapir. It is a huge dilemma for fed chairman ben bernanke and a massive headache for the market. Former Federal Reserve and cider, a former president of the minneapolis fed will give us his unique insight. He has been behind closed doors on these decisions and will tell us what he thinks the fed may be signing next. A fox business exclusive. Liz what happens when the team up . Launching an of lipsticks. Well, we have an exclusive about the partnership and a sneak peek at the full line. Dont miss it. Well be right back. I turned 65 last week. The math of retirement is different today. Money has to last longer. I dont want to pour over pie charts all day. I want to travel, and i want the income to do it. Ishares incomes etfs. Low cost and diversified. Find out why nine out of ten large professional investors choose ishares for their etfs. Ishares by blackrock. Call 1800ishares for a prospectus, which includes investment objectives, risks, charges and expenses. Read and consider it carefully before investing. Risk includes possible loss of principal. Liz time for a quick speed read. Five stories in one minute. First up, show sur analysts and investors by naming the former head of refining to replace chief executive. He worked for the company for 30 years. Kroger buys paris Harris Teeter grocery chain. After the deal closes they will continue to operate stores as a subsidiary. What year is set to join the eurozone, becoming the 18th country to adopt the euro. The European Commission gave final approval concluding the country had fulfilled all of this convergence criteria. Estimated as cold pollution in china is cutting Life Expectancy by five and a half years. The new study was based on analysis of health and air quality data from 1981 through 2000. The International Monetary fund cut its growth forecast for the u. S. And world economy. Globally reducing the alex for 2013 and 2014 by two tenths of a percentage point. Ashley legged you. Liz right under the line. Ashley you even waited. Liz took a breath. Ashley a new report showing that chinese buyers are pouring into the u. S. Housing market, probably to get away from the awful air pollution and spending lots of money on expensive homes liz they want to breathe, but where are they flocking to and how much are they spending . We are joined with the details. They are sort of the new russians. And theyre paying top dollar. Were going to show basically where theyre buying, california, nevada, arizona, texas, north carolina, new york, if you have a buyer from india, china, canada, the u. K. , hold on because china is paying top dollar. 70 percent of the deals are in cash. 425,000 is what their forking over. Indian buyers are paying 300,000, uk, 250,000. That figure is for all international buyers. The mean for just u. S. Buyers is 180,000. So these guys are paying big money, top dollar, and they are buying in suburban areas that people coming in from china, buying in resort areas, places like arizona and nevada, florida, california. One striking thing is there looking for mostly better schools, more available jobs. Ashley buying these homes and moving in, not just as investments. Thats right. What is interesting is that for what is going on in california, more than half of the foreign buyers are coming from china and theyre coming in, get this, using an immigration, government Immigration Program where you get a fast track to a green card if you invest 500,000 more in a proper your business. So thats what theyre doing, using that Green Card Program to do two things, get it faster and by all. Liz unbelievable. Its all cash deals. Because they cant get along here. It of the Social Security number or credit history, as other coming in with cash to get the sounds. Ashley canadians are still number one. Thats right. China is the fastestgrowing group of foreign buyers in the u. S. Liz return. Thank you. Ashley thank you very much. A big question on every investors mind is exactly when the federal chairman will start to scaledback his huge Bond Buying Program. We talk about it a lot. Some clues in just a moment with an exclusive interview. Former minneapolis fed president gary stern. Liz talk about us soft launch, what about the silent launch. We will find out how it helped turn this lipstick and ill show you the color, into an overnight for it overnight, it took three hours. Sold out and three hours with no marketing spent. I fox business exclusive. Im only in my 60s. Ive got a nice long life ahead. Big plans. So when i found out medicare doesnt pay all my medical expenses, i got a Medicare Supplement insurance plan. [ male announcer ] if youre eligib for medicare, you may know it only covers about 80 of your part b medical expenses. The rest is up to you. Call and find out about an aarp medicare supplent insurance plan, insured by unitedhealthcare insurance company. Like all standardized Medicare Supplement plans, it could save you thousands in outofpocket costs. Call now to request your free decision guide. Ive been with my doctor for 12 years now i know ill be able to stick with him. Youll be able to visit any doctor or hospital that accepts medicare patients. Plus, there are no networks, and you never need a referral. See why millions of people have already enrolled in the only Medicare Supplement insurance plans endorsed by aarp. Dont wait. Call now. Ashley it is time for a look at todays market drivers. Stocks closed higher for the fourth day in a row as earnings season gets you know way. The nasdaq ending the session at the highest level since october of 2000. Industrials and materials were todays Top Performing sectors. Confidence among u. S. Small businesses dipping in june after hitting a oneyear high in may. The National Federation of independent businesses optimism index dropping to 93. 5 from 94. 4 the previous month. The u. S. Dollar index hitting a threeyear high on expectations, that, yes, the fed will scale back its Bond Buying Program as early as september. The euro by the way falling to its lowest level in nearly three months versus the green back, hitting a intraday low of 1. 27. Liz the Federal Reserve making it clear it is willing and ready to start tapering the bondbuying program when appropriate and that may very well be later this year. Ashley may be. With unemployment still high and Economic Growth weak an tepid, is the fed making the right move and can it exit the program gracefully or will it be as former fed chairman greenspan put it, messy. Liz he has got nerve. Ashley gary stearn, former president of the Federal Reserve bank of minneapolis. Mr. Greenspan has other issues he could discuss as well. Thank you so much for being here, gary. You had a very unique perspective on all of this. Im sure you wonder what is going on in there as well. Has ben bernanke, before we get, to, you know, can they get out of it gracefully has mr. Bernanke done everything he could and do you generally agree with everything he has done . I think the fed has againly been heroic throughout this because the economy and markets faced major challenges and i think the fed has done a lot to try to alleviate that. Hopefully they have been wise as well. These are Uncharted Waters in many ways, not the kind of thing that Central Banks typically faced. So i think we have to still keep our fingers crossed a bit and hope that, what we experienced Going Forward turns out to be positive. Im reasonably confident but, the jury is still out as they say. Liz from your experience, having been behind closed doors, with the Federal Reserve of your era, making those decisions, how do things look . I know it is hard because you faced different challenges back when you were there but now everybodys worried about when the tapering will begin but maybes precisely how he wanted it . To float it well in advance and people absorbed it and bake the news in. I think thats right. I think the fed certainly prefers not to surprise market participants. That means you have to Start Talking about things well in advance of taking action. I dont think there is any question about that. Even in more normal times you would want to do that. I think in that sense, they were wise to begin the discussion especially because, if you look at the tenor of the Economic News that has become available over the past 12 months, plus or minus, it is generally been on the somewhat more Positive Side than expected. It hasnt been grossly more positive than expected but, mildly more positive and in a consistent way. So i think the fed reading the tea leaves and probably looking at improved outlook, decided to begin the discussion. Ashley is it too early though, gary . Because some people say it is. The fed likes to meet its targets and with regard to unemployment at 6. 5 were a long way from that level. So, are we being a little premature . We, you know, that remains to be seen in two senses. One is of course, i think the fed has been careful to emphasize that this is all conditional. Conditional on incoming information. And so if the news continues to be on the Positive Side, then their timing is going to look pretty good. But i think we shouldnt exaggerate the feds influence either. After all we have a huge, complex, sophisticated economy. The fed doesnt have to get it precisely correct. They have to get it approximately correct, avoided big errors. Liz what was it like sitting in on big decision meetings . What was the most dramatic moment when you were at the fed . Well, you know there were several. Obviously liz were you there for longterm Capital Management and that issue . I was there for longterm Capital Management. Liz that was a fund for those of you dont remember that blew up and nearly took down for the russian ruble. I was there for the stock market crash of 87. I was there for the end of the Technology Price bubble but nothing really rivaled the most recent financial crisis because when things started to unravel in 2008 they really unraveled very, very quickly and it was a global phenomenon. So the risks were enormous. Ashley would you have wanted to be part of these most recent discussions . Or are you happy youre out of it . Im happy other have the responsibility. I certainly loved my years at the Federal Reserve but the responsibility is now somebody elses and thats fine. Liz speaking of somebody else who takes over for ben bernanke . Theres been a flury of activity when it comes to talking about, first it was Janelle Yellin and then larry janet yellen, then larry summers. Republicans are saying no way we would ever consider larry summers. One name not on there, for example, alan, who is over at princeton. Alan blinder. Liz alan blinder there are other names as possibilities. Who is your best guess . I think there is at least two criteria. You want somebody capable, qualified and wellprepared and secondly you want somebody who can get confirmed which is not necessarily easy. Ashley good point. I think several people that would pass both of those that would pass those tests those hurdles. Liz such as . Janet yellen is one. Alan blinder, don kohn, alan ferguson. All of those people have been confirmed in the past, sometimes multiple times. I think not only are they capable but there is reason to believe they would pass that second hurdle. The question is, who is the president comfortable with . What do his advisors think, et cetera. Liz will you come back . Sure. Liz love your ear perspective. Thank you so much, gary stern. Ashley computer hacking, a modern day plague sweeping through corporate america. Well tell you about some explosive testimony on capitol hill about hacking and how much it is costing u. S. Companies. Liz and star power. Weve got an exclusive first look at not just the new line of rhianna branded lipstick that will hit the stores, newer, newer line that will hit the stores this fall. Estee lauder president john dempsey joining us for a fox business exclusive, how he turned zero marketing dollars into the fastest sellout after single lipstick in history. When we made our commitment to the gulf, bp had two big goals help the gulf recover, and learn from what happened so we could be a better, safer energy company. Ive been with bp for 24 years. I was part of the team that helped deliver on our commitments to the gulf and i can tell you, safety is at the heart of everything we do. Weve added cuttingedge Safety Equipment and technology, like a new deepwater well cap and a stateoftheart monitong center, where experts watch over all oudrilling activity, twentyfourseven. And were sharing what weve learned, so we can all produce energy more safely. Safety is a vital part of bps commitment to america and to the nearly 25000 peopleho work withs here. We invest more in the u. S. Than anywhere else in the world. Over fiftyfive billion dollars here in the last five years making bp americas Largest Energy investor. Our commitment has never been stronger. Im jo ling kent with your fox business brief. Stocks closing higher for a fourth straight session with nasdaq ending at its highest level since october of 2000. Safety regulators are investigating Hyundai Santa fe suv because it can suddenly lose power. The probe covers 50,000 vehicles from the 2013 model year. Investigators will determine if the problem is big enough to require a recall. No injuries or crashes have been reported yet. New york citys World Trade Center reportedly scoring a major new tenant. According to the associated press, Advertising Company group m reach ad deal with developer larry silver stein. They are slated to move into nine floors of the 80story skyscraper with a final contract that has not been signed. The tower is on track to be finished by 2016. Thats latest from the fox business network, giving you the power to prosper. [ thunder crashes ] [ female announcer ] some people like to pretend a flood could never happen to them. And that their Homeowners Insurance protects them. [ thunder crashes ] it doesnt. Stop pretending. Only Flood Insurance covers floods. Visit floodsmart. Gov pretend to learn your risk. Liz what if you had a product and you never spent a sing goll dollar on marke it sold thousands and thousands in just hours . Grammywinner rihanna has been a gold mine for single lipstick and cosmetics for mac part of the Estee Lauder Group. They joined forces with rhianna to role out four new products. The first product was a sensation. It sold out in three hours without a Marketing Budget all because of the power of social media. We have the Estee Lauder Group president. We found the story because our makeup artists, nicole, said to me, lizzie, i need to get this. It is impossible. It sold out immediately. I thought a 15dollar lipstick and you guys did not have a Marketing Budget. You guys tried a different tack this time. We did. Rhianna is a amazing world class celebrity. She has 73 million followers on facebook. 75 million followers on facebook. 30 million followers on twitter. Eight million followers on instagram. What we did we let rihanna unleash power of her social media. Literally within three hours this lipstick, which was a lipstick designed by rhianna, inspired by our legendary red lipsticks from the company, we sold literally tens of thousands of lipsticks. Liz did she name it ririroo . That is catchy name. Original lipstick they became famous with is ruby roo. Rhianna is known as riri. Liz this gave birth to a line of makeup. Thats right. That is really hearts summer. Liz riri hearts summer. Which is this part of the line. Thats correct. Liz you had bronzer, powder, the blush. Three lipsticks. This isnt a complicated line. Ive seen other Companies Come out with so much more and not sell anywhere near it. Once again, june 18th, easy day to remember, that is my mothers birthday, we,ry anna unleashed the power of her social network. We had 18 million unique visitors to mack cosmetics. Com in the United States. We had a virtual waiting room where people waiting four 1 2 hours. Liz this is what im talking about. You guys did something very smart. You triad new tack on something youve done many times before with other celebrities. You said this time just online in virtual waiting room. Yes. Liz that is the wait list, right . That is the wait list, right. It shows the power of new ways of communicating in todays world. Liz Estee Lauders stock reflected beautifully. It has done nicely over the past year. Under the umbrella of estae is not just mac but aramus, tom ford, highend, low end. You have clinique. We have amazing portfolio of brand. Liz but you came from mac and you started these sort of gonzo, we call it gonzo journalism, gonzo marketing techniques. What will you do differently for the fall or Winter Holiday line . When we go to riri hearts fall and riri hearts holiday well unleash the power of social media and bricks and mortar as well. They will be available in store and store visuals. Once again, not a dollar of traditional advertising spend. All of it powered by the internet. Liz let me show you, i get first to unleash this in a fox business exclusive, the colors for the holiday alignment by the way, they all come in gold. Price points are fascinating. Only 15 lipstick. I spend 8 sometimes on revlon, basically, a lower end when it comes to pricing but here it is, everybody. This lipstick. This color would be better for me i think. I think theyre all good for you. Liz thats right. It will come with brush as well. What is the price point on all of this. The compact is i believe 32. 50. I could be wrong about the gloss, 15. All incredibly affordable. Great style. Liz i know you dont like to talk about numbers because it is within the division if you could say what happened in australia . Just launched riri in australia. I was traveling around the world and in sydney a week ago and we did the online exclusive once again in australia, a smaller market but where mac is the number one brand in color cosmetics. The lines, waiting room sold out. Repeated this 11 times in 11 countries and all over the world using social media and the power of the internet. Weve proven a new Business Model for drawing inspirational consumers all over the world. Liz riri woo, i love it. We liked it here at fox business axe Publiclytraded Company been around for a long time trying a new way of marketing. It faces nateing. Absolutely. Liz thank you, john dempsey. Thank you for having me. Liz Group Vice President , i dont want i think this is right color, ashley. What do you think . Ashley what is it lili . Liz, liz . Looks great. Thank you very much, guys. The fight against hackers it is costing u. S. Companies billions of dollars. We are live in washington where lawmakers heard startling testimony today. Stay with us. Liz stunning testimony on capitol hill today about the huge damage that hackers are causing to the u. S. Economy and to businesses. A Congressional Committee met today to examine the threat extent of this growing threat and steps business and governments should take to protech their intellectual property. Ashley rich edson live from washington with more on this story. Rich . It is expensive. The one estimate puts the annual cost of cyber threat in more than 300 billion in a economy largely built on intellectual property. Commerce Department Says intellectual property added 5 trillion to the economy. Responsible for 27 million jobs and nearly two thirds of exports. And analysts say targeting much of that value, chinese hackers. They will steal and reverse engineer anything they can get their hand on. And ive been dealing with them, fulltime since about 1970. Im confident that we can, if we keep a sustained effort in place, get them to act differently and in part, its because they know theyre caught. They want to be a dynamic modern economy. You cant do that when youre dependent on stealing technology. The u. S. Government has another shot to raise this issue with china this week. Strategic and economic dialogue is just about to begin in washington. The Top Democrats and republicans from the Senate Finance and house ways and means committees are urging the administration to press chinese officials saying increase in trade secret theft and espionage activity targeting the nights United States and u. S. Companies for benefit of Chinese Companies including threat by electronic means is unacceptable and must stop. One bill in congress would grant the government the authority to block imports on products featuring stolen u. S. Intellectual property. Back to you. Liz im not sure that will do it. Ashley it has been going on for so long now. Liz three years ago, the guys in Silicon Valley were saying watch out for this. Rich, thank you very much. Keep us posted. Ashley all right, we know there are a lot of niche tv channels out there. The history channel. The liz claman channel. The style network, the travel channel just to name a few but what about a channel just for dogs . Woof tv. We have the amazing story straight ahead. Shes always been able to brighten your day. Its just her way. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be 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 heart is healthy enough for sexual activity. Do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. Do ndo not drink alcoholu take nitrin excess with cialis. Side effects may include headache, upset stomach, delayed backache or muscle ache. Tofor an erection lasting, semore than four hours. Help 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. Liz off the desk, the First Tv Network aimed at mans best friend will make its debut on directv august 1st. It will be called, dog tv. It will be free of charge for any directv subscriber. 4. 99 following the trial. Ptv media is behind the channel. The dog approved is targeted for stay at home dogs. Ashley we leave the tv on for our dogs. How about that. We asked if you think barnes noble will exist five years from now . Jim on facebook wrote in to say, barns and nobles nook business is paltry compared to itunes and kindle and their core store Business Model is outdated. Unless they refresh their Business Plan put them on the death watch list. Hmmm. Liz you are watching fox business of course. So by the powers of deduction youre on team fox business but let me introduce you to this. Team fox business. What is this . Three of us here are banding together, cheryl casone, chris hahn and i, facing challenge sunday competing in the new york city triathlon to raise money for building homes for heroes. We built custom, mortgagefree homes for most severely disabled troops returning from afghanistan. Each day up to the triathlon i introduce to you hero recipients. I would like you to meet a captain, that is u. S. Marine, purple heart recipient. Lost both legs above the knee and two fingers stepping on an i evident d in afghanistan. We customized his home so he could live a comfortable life in the future. He is at nyu. He is getting his mba, fabulous. Liz we give these heroes. We would love it if you find it in your heart. So many more like captain blyler, who need special homes, mortgagefree. Building homes for heroes. Org. Thank you. Ashley great cause. Good luck on the biking section. Liz im doing biking section. Chris does the run. Ashley another thing to watch tomorrow, speech by chairman ben bernanke and a q a session. He is scheduled to speak four p. M. Eastern. Fox business will carry it live for you right here. So dont miss us. Liz thanks for joining us. Money with adam shapiro is here in for melissa francis. Im adam shapiro in for melissa francis. Here is what is money tonight. Can bubbles be prevented. Ben bernanke and central bankers develop tools to pop them before they get too big. Will they sew the seeds of the next financial disaster . Of wall streets brightest stars. Storm clouds swirl around Meredith Whitney and her advisory group. It is all the word on wall street and weve got the inside scoop. And who made money today . Here speculation that a certain billionaire will invest in their company has them seeing dollar signs. Not sure who it is . Stay tuned to find out. Even when they say its not it is always about money