Transcripts For FBC Markets Now 20130911

Demand good morning on september 11th. Never gets any easier. Connell especially for people in this city which we will be talking about in a couple minutes. At the Trading Floor they have the special charity event. Dagen run now we want to bring you uptodate on these markets, Nicole Petallides is at the Stock Exchange with more. Nicole it is a tough day, Dow Jones Industrials hit it off at the markets, the dow was up 46 points at the moment, nasdaq composite and the s p pulling back because of avalanche apple comprises 13 of the nasdaq composite. Lets check on apple on this day after we heard all about the i phone 5 c and the iphone 5 x land all the features and the better of those two models and apple is down 29, back to you. Dagen thanks so much. 12 years after the attacks on 9 11, right now, members of congress from the house and senate are participating in a ceremony on the steps on capitol hill but again it is a painful day for this country, still as painful as it was years ago. But we remember and we pray and honor those who lost their lives on that fateful day. Connell candor fitzgerald was among the most effective, up by the 9 11 attack 12 years ago now known as ddc and each year they have a special fundraiser. Is under way. Adam shapiro is standing by with a special guest. Adam regis film and needs no introduction, he helped not only new york city that the nation get on its feet 12 years ago. The joins us to talk about the d. C. Charity day. They raised 89 million in the last nine years, you are representing the marine frazier foundation. You have been instrumental. I can remember in 2000 when you got back on the air so quickly. Why was that so important . David letterman put it back on the air, it happened on monday. By thursday, he has got to go back. I want to go back and i am with you and that is how he got it going and everybody else back on. You got a sense how important that was for the nation . Absolutely, like we were defeated without the tv or things we were used to after that were downtown. And it had to happen. We had to go back as soon as we did. Adam you are here today, do some trade, 8 million on the line. It came up 8 billion plus. And frazier foundation. Adam by bbc worldwide, and helping to fight cancer one of the things taking part here. This was a woman who suffered from it for years and years and frazier who i know, and other ladies like herself is what it is all about and happy that a few minutes ago one of the guys came up with a deal that i got on the phone and he is going to get whatever it is. Adam any advice for carl icahn . We will go to the dell shareholder meeting. We go to the same restaurant in man hadnt. And one day he put a picture of carl icahn on the wall and i said why carl icahn . What about regis . So he put the picture of and i said the picture has got to be half an inch on top of carl icahn so he did that and he never noticed it until one day he looked up to see himself and there was regis a half an inch higher and all hell broke loose but it was too late. I won that one and i am still on top . Adam the nation says thank you to you. What do you say to the planned women here, 5,000 employees worldwide. Wonderful idea. They lost so many people that day. Adam 650 people. They are all working hard and going to produce and by the end of the bailout of charities will benefit. Adam how does it make you feel . Makes me feel good. My fourth or fifth time here and good to see them working on that and i hope people remember the Noreen Frazier charity. For cancer women. Adam thank you. Back to you guys. Dagen we love you, regis connell ok, weo get back to some of the september 11th here in a few minutes on fox business but back to business right now with this exclusive report Elizabeth Macdonald brought us earlier about citigroup. The executives looking to lay off 2,000 workers, may be more than that by next year as Rising Interest Rates continue to push consumer demand lower and other banks, wells fargo, bank of america, Jpmorgan Chase might follow suit, could be a big story so bill joins us from seattle, talked about Interest Rates, bill will come on and we will get to the Federal Reserve at some point but what about this story concerning citigroup to start of. What does it tell you . That is just one of the consequences, rising rates. The fed believes its job and within its ability to make the economy grow at just the rate it wants and the ten year note has risen from 150 to 3 over the course of the last year. That i dont believe is what the fed wanted to occur. Some of that is believed to be because of the fact the fed is going to perhaps taker can billion dollars from what it buys every month which is a rounding error but none the less the bond market thats which is to say the part of the curve from five years and out is no longer doing what the fed wants it to because the job wants to talk longer rates down. I dont think it will get its way but we wont know for sure until we get past the fomc meeting but Rising Interest Rates will undermine the housing recovery which was overstated to begin with. Connell the fed wont get its way. Lets take this apart one at a time. In terms of the fed not getting its way what will happen next . It is my contention that the bond market only got to the low rate that it did when i say the bond market i am talking yields five years from now because there was this over hang, fear of deflationary for ever since 2008 and on the other hand centralbank for going to print as much money as it took to make sure that didnt happen and when you print as much money as you need the value of the currency can go down faster and you cant have deflationary. The bond market persisted in worrying about that particularly with europe from their. That i think is off the table and the next big concern is going to be the inflationary consequences of this money printing. These things take time. Logger term Interest Rates are doing what the fed wants. Connell we were flashing on the bottom of the screen something you had written about that the stock and bond market are, quote, dangerous. What does that mean . If you believe that the bond market is going to continue to, quote, ms. B a band not do what the fed wants that has implications for the bond market and the stock market. Everyone i think assumes once the fed clarifies or capers of little or doesnt the bond market will go back to be caving and have a big rally. I dont think that will be the case and if it turns out if it plays out as i think then people have to reexamine their expectations particularly if the economy continues to sputter along which it has or gets a little worse because the Housing Market has is not as strong as everyone seems to think it is and that has been supposedly one of the drivers of the economy. Connell bigtime drop in the stock market. Is that a prediction . At some point it will happen. I dont know if it will happen next week but at some point people will realize the stock market is where it is because the fed has been printing 85 billion a month, bojs printing 70 billion a month and you have to continue to print even larger amounts of money so that will change and if we start to get a hiccup at some point stock market will take a big hit. I cant tell you when. Connell if you could you would have more money than you do. It is good to see you again. Thanks for coming on. Dagen on to the president s address to the nation last night on syria, calling on congress to delay any vote on action on syria in order to let russias diplomacy if you will, move ahead if it will. Take a listen to this. Too ready to tell if this offer will succeed. Any agreement must verify that the assad regime keeps its commitments. But this initiative has the potential to remove the threat of chemical weapons without the use of force particularly because russia is one of assad at strongest allies. Connell jason riley of the wall street Journal Editorial Board is with us in the studio, retired colonel steven bucci of the Army Special Forces is with us. You first on the president last night. The president s every Foreign Policy defeat and this speech was an attempt to spin it as a success and he drew this red line and decided to go to congress and realized he didnt have the votes in congress for support from the National Community and he is counting on russia. Syriacs protector, by the way, to bail him out of this diplomatically. The idea that we would expect russia, a country that has been arming syria for 50 years to lead the disarmament of this country is absurd. Dagen do you think that the disarmament will work . Diplomacy will work . Does president obama not want to strike syria in the first place . I think very definitely he did not want to strike syria. He really hoped assad would never cross the red line so he wouldnt have to do anything. Assad called his bluff, the president got pushed into a corner, didnt have the votes and grabbed this lifeline Vladimir Putin threw him based on john kerrys snarky remark to reporter and now it is our national policy. It will not work. We did this for six years in iraq and it didnt exactly work very well and now we are going to try it in syria where there is an ongoing civil war. This idea is doomed to failure. Connell what would have happened in your view, it is still on the table, if we had gone, things would have gone worse . If we did what the president was saying he was going to do he would not have done anything, made a few holes in the ground very much like clintons strikes and that emboldened al qaeda to think we were a bunch of wimps and it led to 9 11 and this i think had the possibility of doing the same thing except it would be assad standing there saying guy stood up to america and took the best and i am still standing. Dagen what is the end game . Nothing . Diminished role for the United States . It could be and that is a shame. The first part of the speech last night obama laid out a strong case for a strike. The international taboo and the intelligence we had on this front and talked about proliferation issues and our allies in the region so there will be real consequences if we dont do something but he negotiated himself and the second part of a speech was all the reasons we must whack diplomacy lead the way. It sends a very mixed message, it left obama and this country looking weak and uncertain, not what we want to project the world. Dagen the most jarring political pivot in recent memory. Connell it had to be out it was done. He would have been better off not giving a speech last night than doing what he did. Connell just canceling it after the developments. Maybe the colonel has a quick fought on this, this was a total lack sitting . No behindthescenes discussions with the russians before hand . Just john kerry shooting from the hip . It is hard to know what was off the cuff and what wasnt. There may have been some talks along these lines but the answer to the of the policy, russia stood by assad and his denials about using chemical weapons so the idea that we think a path to success in syria goes through moscow is ridiculous. Dagen how damages our reputation on the world stage at this point based on what has happened so far . I think it is pretty weak right now. We have allowed Vladimir Putin to suddenly become a major player on the world stage at a time when the president of the United States of america is standing there twiddling his thumbs waiting for vladimir to fix the problem for him. We have been very diminished by this. Connell thanks to both of you. The discussion. Big issue is obviously. Dagen we are going to take a quick break. So much coming up, Charles Payne is on deck. We will go to San Francisco for three days in the valley, also robert gray standing by. Connell it has been a big week for technology. At and more as we remember september 11th. More about to come. Keep it here on markets now. [ male announcer ] sheets or bar . How do you get your bounce . Bounce keeps my clothes fresh for weeks, even when theyve been sitting in the drawer a long time. Like those jeans you cant fit into anymore. Uh. By that, i mean. [ male announcer ] how do you get your bounce . Longlasting freshness. 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 data plan. At t mobile share for business. One bucket of data for everyone on the plan, unlimited talk and text on smart phones. Now, everyones in the spirit of sharing. Hey, can i borrow your boat this weekend . No. [ male announcer ] share more. Save more. At t mobile share for business. Bjorn earns unlimited rewas for 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 . Connell making money. Time to make a little bit with Charles Payne talking nokia today. A big week for attack and attack related stuff. Y no phone business now. Charles it is a terrible deal for microsoft and we spend so much time on it, the microsoft end, we didnt really think about the nokia end of that, p. 4 billion euros, all cash, 1. 5 billion in friendly financing for microsoft, the chief technology officer, and portfolio, they go to 56,000 employees, they are lean, ready to go and what are they ready to do . They are ready to manipulate very well this networking space which looks very attractive, hard line and off line, the cloud, they have a cloud space, and a product called hair, five cars, it in depth navigation using the cloud system, deals with a whole lot of people, they have a great opportunity to reinvent themselves once again. Connell you have been in it for a while. Charles i have been watching it for a long time and this deal and earnings reports i saw from a few others, networking is a great place to be, a chance to reinvent themselves. And the russian army connell you dont actually remember that . Congratulations. Thank you. Good luck. Dagen at the top of the our use of regis from the annual be g c fundraiser in an effort to raise money for the victims and families of 9 11 and we will bring you more from that annual event. Connell we will also talk more about verizon, 49 billion, that is coming up, markets now continues. You know throughout history, folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill eachorning 24 hours. Zero heartburn. [ male announcer ] one pill eachorning theyre the days to take care of business. When possibilities become reality. With centurylink as your trusted partner, our visionary Cloud Infrastructure and Global Broadband network free you to focus on what matters. With Custom Communications solutions and responsive, dedicated support, we constantly evolve to meet your needs. Every day the week. Centurylink® your link to whats next. 23 minutes after the hour your fox news minute, the twelfth anniversary of the 9 11 attacks, the tradition of the reading of the names of the 3,000 victims began this morning at ground zero in new york, the ceremony stock for four moments of silence marking when each tower of the trade center was hit and one each tower fell. President obama attended a ceremony at the pentagon where he placed a wreath remembering those who died. She started the day with first Lady Michele Obama on the south lawn of the white house along with Vice President joe biden and dr. Joe biden, observing them moment of silence market when the press plane hit the trade center and the anniversary brings changes to the flight 93 memorial in shanks ville, pa. Victimss relatives gathered along with officials to mark the start of construction on a visitors center. Those are your News Headlines on the Fox Business Network, back to Dagen Mcdowell and connell mcshane. Connell in new york the largest city of the nation we have primary results in a race for a mayor to report on today. The big local story before the terror attacks was primary day. Bill deblazio taking 40 on the democratic side. Needs to stay above 40 as the paper ballots are being counted. If he does he will avoid a runoff with the number 2, Bill Thompson and this does look like the end for Anthony Wiener in terms of his political career. He is out just 5 for 7 in the race for mayor last night. Elliot spitzer also done, lost to Scott Stringer in the race to the new york city comptroller. Dagen weiners goodbye wave was giving the middle finger to a local tv crew. He was giving his concession speech. Go away. We dont want to see you anymore. Moving del west and the 43 Vote City Council in richmond, va. Approved a plan to become the first city in the nation to use Eminent Domain to acquire mortgages that are underwater. The city could be essentially sees underwater mortgages from their investors to help the president s in their homes. Councilmembers who oppose the plan say this maneuver would put richmond at risk for expensive lawsuits that could ultimately destroy the citys finances. Investors holding these mortgages have already sued to trust wells fargo and Deutsche Bank to block this plan, the two sides meet in court in person for the first time thursday. Retailers are getting into the holiday spirit early this year. Even earlier than usual. 104 days left until christmas and kmart has already been airing its paula that. This one debuted yesterday and features a gingerbread man cruising on a woman in her cubicle. Do not let the holidays sneak up on you. There you go. Knife toward nation. Shop early with kmart. This is the earliest ever marketing kickoff to the Holiday Season in terms of tv ads. Sometimes you will see lights up and garland hanging because the owners havent taken them down since last year. Connell a huge Corporate Bond offering from verizon making headlines. Actually at the new york Stock Exchange where Nicole Petallides will give an update in a moment. Dagen liz claman continues coverage three days in the valley with people from sony as they push ahead with a new play station and here are todays winners on the s p. [ male announcer ] imagine this cute blob is metamucil. And this pk is the inside of your body see, the special psyllium fiber in metamucil actually gels. And that gelling hes to lower some cholesterol. Metacil. 3 amazing benefits in 1 super fiber. Connell we mention verizon, a big move here, the largest Corporate Bond offering largest ever from verizon, so nicole joining us again, how about that . Thats rights. Two big pieces of news to follow, best buy and verizon. Ill get to verizon in a moment. Thats huge. Best buy, worth noting the ceo himself has been selling off shares in order to pay for his divorce. It turns out he sold nearly 17 million worth of the stock in order to cover the cost, and the company granted him the waiver in order to do so because its the head of the period he was supposed to be selling. To the verizon story, they take on 50 billion in new debt. This is a massive bond sale to your point, connell, to basically help them to pay for the 130 billion acquisition of Verizon Wireless, so its interesting to take a look at the stock, though. Stocks not really reflecting this. Its flat right now. Connell there you go. Thank you, nicole. Dagen back to the Trading Floor at bcg partners to catch up with adam with special guests with him again. Hey, adam. We had Regis Philbin at the top of the hour, but now who makes it happen. 5,000 employees here, and they were here permly, a canner in 2001, and the memory of the 12 years ago, how important is this that it continues nine years now to get over this in its important. I lost a lot of friends in then. We have a colleague on the desk who lost his father that day who it means a lot to us to honor their memory and a lot to the charities as well. The fact that bcg charity day, 89 million over nine years, 12 million this year, breaking that number this year, youre a part of that. Its a great feeling. The verizon bond offering. What are you experiencing at the desk . Well, they are currently bringing the largest bond offering in Investment Grade Corporate Bond history, and so because they try to bring 45 billion, they brought a big discount so its not freed yet, but bonds are basically 30 basis point tighter in the gray and expect a lot of activity later, great for charity. Great for charity, especially when you get the proceeds from that, and to wrap up with you, you know, what are you talking to me when you should be trading . No, i get it. The stars that are here, the celebrities, the sports celebrities, the movie stars, and every year, how do you concentrate on doing the job . Its tough, distracting, Everyone Wants pictures and talk to the celebrities, but it helps with the clients as well who are excited to be on the phones, people deaf definitely give us markets from that and more trades to help out with charity day, means a lot, and they enjoy it. Do you trust the stars with a 45 billion deal from verizon . Thats tough. Off the phones then. Thank you very much. A good day to talk with you, and im going to throw it back to you, but more coming up, and howard at one oclock. Dont go anywhere, keep it on markets now and Fox Business Network. Dagen absolutely. Thank you. Connell bringing one of the children to school, his brother died in 9 11. Ceo. All right. Just call it the curse of the lone ranger at this point. Disney delaying the fifth installment of the caribbean franchise after reported problems with the script. The studio is worried about another possible plot with all thats gone on. They took out 190 million write down on the lone ranger, and the Hollywood Reporter everyone is being more cautious now. Film originally set to be released in july of 2015, but the franchise made nearly 4 billion to date. Dagen same producers, same director of the lone ranger, some of the pry cats movies. Connell every time, well, didnt work out. Dagen stinks up the joint. It smells. Wireless internet on airplanes getting faster. The largest provider of entertainment has a new system connecting passengers to the internet six times faster. Virgin announced they will launch the wifi in 2014, and while it costs 14 for a oneday pass, people pay the price. The wall street wall street jy shows 60 of aircraft in the u. S. Are connected while on board. Take a look at shares today. Up 7. 5 . Connell there you go. Sony launching the new playstation 4 ahead the Holiday Season, so liz claman is live with more three days in the valley coverage. Dagen gold, looking at it now that the syria issue quieted down, and its now in the hands of russia. Sandra smith has todays trade. Connell facebook chief making an appearance with the big entrepreneurs from this country. Thats coming up. Always on markets now. [ male announcer ] how do you get your boce . Im, like, totally not down with change. But i had to change to bounce dryer bars. One bar freshens more loads than these two bottles. I am so gonna tell everyone. [ male announcer ] how do you get your bounce . [ woman ] time for change your Financial Advisor should focus on your longterm goals, not their shortterm agenda. [ male announcer ] join the nearly 7 million investors who think like you do. Face time and think time make a difference. At edward jones, its how we make sense of investing. Lori this is your fox business brief. Treasury sold 811 million worth of regime motors common stock in august. Taxpayers owed over 14 billion of the 49. A billion bailout the government gave the auto maker. Trader joes dropping the Health Coverage for employees working less than 30 hours a week. According to the report, the privately held grocery chain gives workers a 500 check to help them find a new plan under the health care exchanges. Trader joes declining to confirm the reports. Meantime, more than 17 million u. S. Workers identify themselves as selfemployed. Its freelancers, temps, or other independent workers. According to a report, thats up 10 from 2011, and that number is expected to grow to 24 million by 2018. Thats the latest from the Fox Business Network, giving you the power to prosper. Dagen americans spent 2. 5 billion in the Second Quarter of 013. They hope to launch the next playstation consul helps them score big time this Holiday Season. Connell like our video games here in the country. The playstation headquarters, day two of three days in the valley, liz . This ones for you, connell. This is my friend, god of war, we are inside sonys headquarters for playstation in california where they are gearing up, you cannot believe whats happening in here preparing for the launch november 15th of playstation 4. This is supposedly a revolutionary consul with one million global preorders at this point. That was last months number. Well find out this months number coming up, but all day long, live here, introducing you to scott, the senior Vice President of sony worldwide, and we are looking at the studios area right here. Hes going to show us a game thats not even on the market right now called infamous second son. Absolutely. Were proud of it. It comes from the studio up in washington state, sucker punch, wholly own studio part of worldwide studios. Greg is in the background playing for us. This is something that this is a third game in this series, something were extremely proud to launch on playstation. Whats with this guy . He destroys and starts attacking . Tell me whats happening . Why do people love this game . Well, the story is this guy has superherolike powers of course he does. Of course he does, its a video game. Thats delson, he has to choose to use the the powers for good or for evil, and thats all up to the player,been a hallmark of the series, but now that this is on playstation 4, you see how amazingingly dense the world is, hog it is, and how greg does anything he wants. Like spiderman. Better than spiderman, face it. Sorry. [laughter] what i find fascinating is, folks, you are watching something thats not on the market yet. It will be come november, so you get the first look. What numbers are you looking at . You want to sell how many of this particular game as well as, of course, the consul itself . The largest number you can pronounce, thats the number we want; right . , no, we always want in the multiple millions of units to have a real success for any particular game. The issue is chicken and egg syndrome, and later on today in three days in the valley, peter moore of Electronic Arts will be here, making the games for the playstations as well, sony makes games too, but the Game Companies have to be ready for when the consul comes out. Will this be ready . This is a game due to come out slightly after the launch of play january playstation 4, but teams like sucker punch is not working on the they worked on the games for years; right . To be ready for the launch window, they have to be working for a long period of time. They will announce playstation 4 was november, and what happens . The big competitor says, oh, by the way, were coming out in no november too. Make your case. This is the most powerful machine on the market. Talk to anyone, any of the tech analysts that looked at the machines. This is the most powerful on the market. You say that, how, give me hard data. This is from a laymans perspective, the best way to describe it. This game, look at the screen here, you see the reflections here, the details from the water. This takes place in seattle; right . While you can do pieces of these on previous machines, now you do all the great water and lighting effects, all these special effects. Watch this. This is an orbital drop. Oh, thats got to hurt. You do amazing special effects, everything on the screen is a physical october; right . You do pieces in the past, but now with the power of the playstation 4, theres lighting, physical effects, graphics all in one. Playstation 3, 70 million hardware units, 195 Million Software units, do you expect to best that for the 4 . I do. Its a superior machine, healthy appetite for gamers who want the next great thing. Absolutely, well succeed there. Part of the issue with the industry itself is the Package Software of games is not hot. People play mobile games for a dollar of a download, and some of the games are 4050, how do you make the case . Playstation does a got job of giving users, gamers the choice. We have free to play games, dollar games, 49 cents games, 15 dollar games, and theres an appetite for the 60. Just back in june, we launched the last of us, for 60, and its up in the 4 million range. Whats wratch et thinking . They watch this second son. Give the thumbs up or down. This is what its like to work at Sony Playstation headquarters. Wish you luck. We are so far from down here with our continued exclusive inside look here all day lock for Sony Playstation headquarters. Coming up, we have, at 3 p. M. Eastern, and, of course, before then, the shutter ji fly ceo, and, of course, three days in the valley, look at all startups, how they are public, incredible stories, how many of us use shutterfly, and p 3 p. M. Eastern, we have jack trenton, the chief general in the massive battle of gaming, hard numbers from him, how many preorders now, what are the specks and numbers for playstation 4 . You cant miss it. Its day two of the sixth annual three days in the valley. Back to you. Thank you so much, liz in the valley. Intense gamer, that guy. Gold in the red today. Moving on to that, but oil makes a comeback after it took a dive after the president s speech on syria last night. Dagen sandra smith with the assessment of risk in todays trade. Great word when talking about commodities, all about risk, and looking at the stock market, you got mixed action, same thing with the commodities market right now. Usually, we see all the Energy Products moving in one direction, precious metals, and not the case right now. Oil prices up, gas down, and gold down, silver up. No real big trends as far as commodities are concerned. Look at the move now, oil prices are are hovering at 108 a barrel. Heres an intraday look at oil, volatility here, guys. The speculators in the market based on syria, and now they talk about the weaker u. S. Dollar based on whatted feds next move will be, and the inventory report with a less than expected draw down in oil supplies, somewhat bullish, getting a bit of a pop there. Natural gas continues to be a big story, guys. This is sort of a news, Natural Gas Prices pop on cooling demand based on hot temperatures rolling through right now, 90 degrees in new york city, but now we are getting forecasts for cooler temperatures, and thats why you got more than a percent down. In the inventory report, gasoline prices unchanged right now, guys, but still at a tenweek lee. You got a demand report for the first time in september when we usually have a drawdown in demand after the labor day driving weekend, guys, but this was abnormal. Were talking about a 12year low as far as gasoline demand in that first week in september, so sort of an economy story there, and thats why you see the prices coming down. Look at gold, gold down a buck today after a week of selling. The oneweek chart, guys, continued selloff continues in todays session, down a bit, silver prices bouncing back after a big selloff this week. Here you have it at 23. 15 an ounce. Volatility today. Connell speaking of commodities, oil, largest Oil Pipeline Company if north america, a 26yearold analyst sending shock waves in wall street calling kendra morgan, quote, a house of cards. We have the interview with him. Should be good at 11 1 p. M. Eastern time on fox business. Dagen tech crunch underway, the likes of Marissa Meyer and entrepreneurs and investors. Connell before that, though, some of the winners on the nasdaq. Here they are. Chats with Mark Zuckerberg and Marissa Meyer. To master the fire fight. Call type in San Francisco. Connell robert gray joins us right now. We are right here in the heart of the trendy sola district where a lot of companies are based, right next door to zynga and you mentioned innovators and entrepreneur is showing up the big thing tomorrow that they showed off today, we are joined by the founder and ceo, thanks for joining us, talk to us what it suggests, how do you create basically and relies for your devices, iphone or ipad . We have created the worlds first smart phone breathalyzer. Pretty simple, you go ahead and put the device as you can see into the audio jack of your smart phone. As you can see here is the start stream. It can identify the device has been plugged in, you plug or push the button to start the walmart process. How long does it take . 10 seconds on a warmup. It is calibrating. And things like the ipad mini and danny android, the majority of the popular devices that are out there. Lets go ahead and take a breath. You can see. As soon as i blow it takes a few seconds literally for it to analyze. No amaretto in the coffee this morning. As you can see i havent been drinking, we recently had 0. 00. Do seatac a different rules . We tapped into the gps and actual smart phone device so we actually already know whats the you are in and it goes on sale technically next month but we are taking pre orders on our site currently. How much will be . 49. Closing in on major funding by household name. Cant disclose that, not too many guesses to figure it out. Dagen i am so buying one, take it to a bar and figure out how all screwed up your friends are. Connell release in new york you can walk. Good to see you. Robert gray out west. Dagen you need something that also tests whether you have bad breath or not. A breathalyzer i am just saying that. Connell Mortgage Applications and job cuts coming up, quite a transition. Exclusive about citigroup thinking about cutting some jobs and what does that have to do with Mortgage Applications . The question is what will other banks do . More on that exclusive report coming up. Dagen that cup of joe might cost you more very soon, phil flynn at the cme will tell you why. [ male announcer ] imagine this cute blob is metamucil. 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. You are gonna need a wingman. And with my cash back, you are money. Forget him. My Airline Miles will take your game worldwide. What im really looking for is i got two words for you rewards. Theres got to be better cards than this. [ male announcer ] theres a better way with creditcards. Com. Compare hundreds of cards from all the major banks to find the one thats right for you. Its simple. Search, compare, and apply at creditcards. Com. First rounds on me. [ 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. Dennis dennis kneale. Cheryl Cheryl Casone. Applications for mortgages tumbling as a rate increase, a fox business exclusive, job cuts as a result. Dennis apple got clobbered after it i phones disappoint wall street. Charles dean on whether that makes apple law. Cheryl the morning of coffee could cost a lot more. Phil flynn at the cme to explain a check on oil after the big Inventory Data at. Dennis Nicole Petallides on the floor of the nyse. Apple taking a tumble. Going on. Lets look at the Dow Jones Industrials. We are down most of the day. And the 6 points morgan 1 2 . The nasdaq not without, apples component. 8 of the nasdaq, also the s p 500. Today after the iphones are releasing it, and the lows of the day loving what they put out. What is to come for apple . You get a kneejerk reaction tumbling forward. Cheryl Fox Business Network exclusive, citigroup is in talks to lay off 2200 mortgage workers by next year. Rising rates for the job done and new data may show why. Mortgage applications 13. 5 to a five year low. Liz macdonald broke the news on the last claim this morning and is here with more details. Liz important point to point out, the rates have spiked dramatically higher. So quickly, that is the issue and revise in june 2009 levels, citigroup, Insider Selling fox business 2200 mortgage workers could be laid off by early next year following cast on the heels of banc of americas a and 2100 workers, wells fargos sage and 3,000 mortgage workers and Jpmorgan Chase, a 15,000 workers. The question is where will the lie out happen . Could spread across consumer branches across the country as has been happening at Jpmorgan Chase, texas, florida and new york. Cheryl you also say there could be more, the number could actually rise. Cheryl more than a boom and bust cycle of mortgage hiring and layoffs. Theyre worried about 4. 8 mortgage rates, and citigroups c e o moving after, he said that they are concerned about refinancing, they have been talking about restructuring, the Second Quarter Conference Call already making theft to resize the Mortgage Business correctly. Also got an email from an insider at citigroup, city mortgage in st. Louis, top executives theyre saying we got to fix this problem, need to optimize our structure because the conditions in the Mortgage Market are not as robust as they were six months ago. Dennis these banks active duty in these departments because so many people are refinancing and theres a great boom going on so no like weather in to negative red territory but firing the extra people they brought on. Cheryl we dont know if there in negative territory. This is a signal of the rapids like higher and the shock to the worker troops than the fact theyre going to be laid off, a signal of the rapid rise and fast reaction. Cheryl if you look it began at that came out today which played perfectly to this exclusive free land the network is if you look at the real fight if they have dropped dramatically we have gone from 3. 5 at the lows to 4 pushing 5 . Cheryl liz jamie dimon and those guys paying 30 to 40 dropoff in mortgage revenues quarter to quarter so is wells fargo, 30 drop off. Dennis thanks for staying on top of that, good job. Getting diplomas the chance in syria. In his address to the nation president Obama Asking Congress to deal a vote on military action, favoring a diplomatic solution. The russian proposed plan caused the Syrian Government to surrender control of chemical weapons stockpile proposal syrias for minister accepted yesterday. Too early to tell of this offer will succeed. Any agreement must verify the assad regime keeps its commitments. But this initiative has the potential to remove the threat of chemical weapons without the use of force particularly because russia is one of assads strongest allies. I have therefore asked the leaders of congress to postpone a vote to authorize the use of force while we pursue this diplomatic path. Dennis john kerry heading to moscow to meet with his russian counterpart on this plan proposed by the russians and joining us from washington former chief speechwriter for president george w. Bush, now a fellow at the American Enterprise institute, concerned about it, thanks for being with us. Hy read through scathing review of the performance last night and you say the president didnt have to polk the speech to say i am not going to do anything yet. This may be the first primetime address the president has ever given asking congress to do nothing. I have no idea why he gave this speech. He spent 12 minutes justifying and arguing his military action and then announced he was deploying not the u. S. Military but secretary of state john kerry to talk to the russians. I am sorry but john kerry going to moscow is not something that merits a National Live primetime address to the nation. I would have canceled the speech but betty at what he ought to have done was used this as an opportunity to lay out an ultimatum to the assad regime. If he had gone before the country to say the assad regime needs to do a, b and c to do chemical weapons, these demands are not negotiable and that the deadline of this date by which they have to have shown they are meeting those objectives, if not we will take military action, that would have projected strength. Instead he projected weakness and that is very dangerous. Dennis have you been your experience seen anything like this . This whole plan to avoid attack by syria surrendering weapons, it came up purely on all one liner dismissive joke by john kerry, what could they do . They could give up control of all their weapons i guess but they are not going to do that and the next thing you know the syrians are saying we will do that. Is that embarrassing for the u. S. S. R. Can we claim to be the ones to oppose this fix . It is unbelievable with lea conducting Foreign Policy by fall paula. The red line wasnt even plans, that was a slip of the time. John kerrys plan to get rid of theres no strategy involved. We have no idea what will the administration is trying to accomplish what you are for military action or against military action in theory we can look at this and say this is an embarrassment how they are carrying it out. Whatever you think the ultimate outcome ought to be. Dennis john kerry arguing in favor of the biggest tech telling congress it would be incredibly small. You say it has been a debacle but youre in the white house, you get this incontrovertible proof supposedly although we in the American Public dont know that assad ordered chemical weapons but what is the first thing you would have done . Chavez it been that bad . It has been that bad. You should never have gone to congress, he is the commanderinchief, he took us to work in libya without going to congress for authorization and something more substantive than this unbelievably small attack, it is so unbelievably small then just do it. Now he is in a situation where he has boxed himself into the point where trustee walks away from his own red line, then goes to the world and the world says we are not with you except france which is offering to hand over the surrender documents, then the British Parliament votes no, congress is about to vote no so he needs this way out more than assad. Dennis what would you have done . Fired off tomahawk missile morning after . I think if he has decided as he said last night that military action is necessary and justified the ought to man up and be the commanderinchief and take military action he thought necessary. Dennis if we can avoid firing missiles and they give up chemicals, win win because theyre not going to give up chemical weapons. Cheryl joining as is Extensive Knowledge on the Economic Investment climate in the middle east and International Market overall. Good to see you again. You and i were in syria. A lot of u. S. Money was pouring into that region. Is the region overall saying investment outflows or inflows from your perspective . Were seeing a lot about flows. There are problems in egypt which is one of the fastestgrowing markets in the last 15 or 20 years. The problem is for investors are welcome to go in but when they go out they cant convert their egyptian towns back to dollars so that is discouraging. Other pockets where were seeing interest today actually is in dubai which five years ago was a wreck and today we are seeing signs that the economy is improving and of course we know everything is always perfect. Cheryl looking at a region, bright spots, dubai, going back when we were there together in syria, at the time there was a feeling that the consumer, the 1825yearold young consumer wanted to embrace american capital. Is all those opportunities gone . Egypt or, is everything off the table . Lets talk about syria. And think that syria and the sanctions were in place, a great opportunity, Stock Exchange has opened, commercial realestate in downtown damascus among the highest in the world and very much feel that they were very pro western. The few syrians that communicated with me over the last year or two indicated to me they wanted to get out of the country but they were there was they were negative on what was going on. They are afraid for their lives. In egypt on the other hand lately the people i have been speaking too, mostly Business People are turning pro we dont see it in the news, they feel things are turning positive despite the most recent turn of the events. They tend to be very pro western, at least the people i deal with. Cheryl with a welcome u. S. Investment. Where the trend was going and politically with our president running, not last night but threatening, it seems western interests those businesses are not going to want u. S. Banks coming in, private equity funds coming in. That is not correct. They want Foreign Investment, the u. S. Is among the Foreign Investment because they need it and ultimately the only way of of the box is going to be by growing the economy and the only way to grow the economy needed for a lot of other emerging markets is by inviting investment into the country. Cheryl you are not seeing that happen, you are getting those phone calls. We are seeing money flowing into dubai and oman, were not seeing money flowing into egypt. We are seeing a lot of client interests. A lot of clients asking about egypt. We recently hosted a luncheon for the chairman of the cairo Stock Exchange in new york. We had many Institutional Investors attend so they want to get ready for the day it is on the ground and about longterm valuation. Cheryl thank you for your perspective. We look forward to hearing from your next trip to the middle east. Dennis did apple blow it . Wall street was waiting for a surprise at the end of the apple unveiling but surprise wasnt some new apple tv. It was of this, elvis costello. What is so funny about peace, love and apple stock . Charles payne ahead on why apple might be a buy. Cheryl what it energy. Phil flynn from the cme with more. We will be right back. Um. Wheres mrs. Davis . Shtook an early spring break thanks to her double miles from the capital one venture card. Now what was mrs. Davis teaching . Spelling. Thats not a subject, right . I mean, spell check. Thats a program. Algebra. Okay. Persons a and b are flying to the bahamas. How fast will they get there . Dont you need distance, rate and. No, all it takes is double miles. [ all ] whoa. Yeah. [ male announcer ] get away fast with unlimited double miles from the capital one venture card. Youre the worlds best teacher. This is so unexpected. Whats in your wallet . Bounce keeps my clothes fresh for weeks, even when theyve been sitting in the drawer a long time. Like those jeans you cant fit into anymore. Uh. By that, i mean. [ male announcer ] how do you get your bounce . Longlasting freshness. [ male announcer ] 1. 21 gigawatts. Today, thats easy. Ge is revolutioning power. Supercharging turbines with advanced hardware and innovative software. Using data predictively to help power entire cities. So the turbines of today. Will power us all. Into the future. Cheryl got the dollar higher by 87 points but look what the judge of the dow is in the gains. Ibm has 190 a share accounting for 29 points of the dow gained as shares of ibm and second place coming close but are on the impact side, walt disney, only 7 points but that is the secondhighest by percentage basis mover on the dow 30, lets bring in Nicole Petallides from the floor of the Stock Exchange for more on the markets today. Nicole a lot going on, an exciting day on wall street, watch the markets turn from red in to green. Lets look what is going on in the airline industry, your first look at ldc u. S. Airwaves, stock is down 2 . Most of the airlines have down arrows and as they check them one by one u. S. Airways continues to have its proposed merger with American Airlines and so they continue to go forward but the Justice Department filed a lawsuit on august 13th trying to stop this 11 billion deal. In november what is going to happen is a judge will hear the case. American airlines has spoken out and said those opposed are ignoring the realities of the industry overall and u. S. Airways accuses the Justice Department of ignoring what is going on with the Discount Airlines like jetblue and southwest and spirit as they have 40 of air traffic. Cheryl we will see you at the bottom of the hour. Dennis some money with Charles Payne if you sell your apples stock ahead of the tumble, shares down, string of downgrades after the disappointing Product Launch but charles, you did not see a chance to buy in sheet. Charles not yet. Many reasons why but lets start with the big news. When the headline from the company is the most colorful iphone yet, i am starting to sell my stock. That is when youre giving m this is what waited for . This is the big news . Obviously a lot of negative rejection but even before then getting back to the pure fundamentals, that june quarter was an ugly quarter. Didnt do anything that told me it would get better, margins down dramatically, the only thing i liked was for the first nine months of the fiscal year they invested their research up 33 , revenue up 11 so that hurt margins but they are putting a lot of money toward something more impressive. Cheryl contrarian question, stock is down since january for apple, you dont see this as a potential buying opportunity . Charles i dont see the urgency. What is going to change tomorrow as opposed to today . 487 is a key support number and if that doesnt hold then you will see a lot of technicians talking 450 a share. Dennis shares that did not drop yesterday with the big deal with china and mobil hasnt come out, that could be a lot of phones. Charles back to Profit Margins, a lot of phones and not making any money on them that is great. We have gone from a Growth Engine to a cash machine which is fine if you want dividends but for growth in your share price dennis Profit Margins just one word, plastic. Thank you, Charles Payne. Cheryl 67 is a good point. Today marks the 12 Year Anniversary of the september 11th attacks and you heard the phrase worth repeating never forget. New york city pa. And washington ahead, remembering 9 11. Dennis we will take you live to Lower Manhattan and the bbc offices where the Charity Drive is under way. [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the allnew fidelity active trader pro. Its one more innovativeeason serious investors are choosing fidelity. Get 200 free trades when you open an account. Folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. It past the hour your fox news minute. The twelfth anniversary of the 9 11 attacks being marked by the traditional reading of the names of the victims at ground zero. Relatives gathered along with officials in shane ville, pa. At the white 93 memorial. President obama attended a ceremony at the pentagon where he marked the occasion by placing a wreath. Restarted the day with first Lady Michele Obama on the south lawn of the white house observing a moment of silence market when the first plane hit the trade center and the 9 11 museum unveiled the survivor preprogram nash and after a pair tree pulled from the ground zero rebel. Seedlings will be sent to what are called brazilian communities. The first three of boston in honor of the victims of the marathon bombings, arizona for the 19 firefighters killed battling wildfires in june and rockaway new york devastated by sue byrdstorm sandy. Now back to dennis. Dennis it is a charity day at the g c partners, a day to remember those lost in node 9 11 World Trade Center attack cohosted cheri. Adam shapiro live at be g c with the latest. We met some of the celebrities and wanted to introduce one of the men helping build homes for heros. You heard of homes for heroes, liz claman, Cheryl Casone involved with that, one of the heros is joining us, captain james mylar, United States marine corps winded in 2010 and here with us to talk why this is such an important day and why it made a difference in your life, we have video of the house that was built for you but you are here to raise funds for others. Absolutely. The purpose is to raise funds for organizations such as building homes for heros. I am president of some of the work they have done, renovated a house maid handicapped accessible. It was the major thing to have my community and organization like building homes come out and say not only welcome home but carry the home. People dont realize how much demand there is from the organization. There are 300 people who put in applications to have a home built, 20 built this year, the goal is 30 next year. When you look at the list, 300, theres a definite need for more money and more construction. Absolutely. Over 0. 95 to the dollar goes to the veteran. It is incredible work that they do. Because of an organization like this men like howard allison, volunteering not just on days like this but all year round to help soldiers, give them homes to live in. When you found out the house had been constructed to you recall what your reaction was . It is overwhelming. The whole response to the Community Coming home, everything is completely overwhelming. You dont even believe it. Lets talk where you are going in your future. You are in school, one day we might see you perhaps here or you are traveling with barkleys but one day you will be trading perhaps. Perhaps. Have they had you do any trades here today . They give that to celebrities. When you meet people, the celebrities who come true or the people who make this day happen and look at the amount of money already raise, 89 million over the last nine years, does it boggles the mind . It is hard to rack your mind around it all. It is very encouraging to see there is that much concern in america. Take care of returning veterans. Lets talk about building homes for heros, why it is so important not just today on 9 11 but every day. A lot of veterans need it, they are coming home. Young kids, 1920, 21, massively wounded. They have to start over, reinvent themselves a little bit. They need the welcoming home and the support when they come back in order to reintegrate into society. Thank you, all the best the. We will speak with a big supporter of building homes for heroes and have that coming up in the 1 00 hour. On behalf of everyone at fox business and the united saints thank you for your service and what you are doing today, all the best to you. Cheryl wait till next year for building homes for era rose. Already plotting the big fundraiser. Dennis more ahead, bulls and bears facing off over apple and are they assign a come back or a stumble . Cheryl temperature in many states in the 90s but get ready for this, christmas advertising is already starting. Take a look as we go to break at the winners of the s p. Right back. [ 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 data plan. At t mobile share for business. One bucket of data for everyone on the plan, unlimited talk and text on smart phones. Now, everyones in the spirit of sharing. Hey, can i borroyour boat this weekend . No. [ male announcer share more. Save more. At t mobile share for business. Stuart she dennis we will get movers with Nicole Petallides. Nicole Dow Jones Industrials up 91 points but worth taking a look, lets look at netflix which hit a new alltime high of 3. 14 and since cooled back apple the day after the i phone 5s, the apple weighing on itself, down 6 but also one major averages on the nasdaq and the s p. Restoration hardware getting hit hard, should have sales growth disappointing analysts, nike a new high again going into the Dow Jones Industrials with Goldman Sachs and visa. Dennis thank you very much. Cheryl the worst day since jan. This is the day after, industrials less than impressed, the president of shaven hole advisers here to weigh in and a big question here, is this a buying opportunity . Apple is up 466, broken crew did next level. What do you say . For our investors, a small position, apple a few weeks ago at 440 so we are looking at this as a buying opportunity. You got one of the most Innovative Companies and the last ten years trading at a discount in our opinion. A lot of investors and even some analysts have the need for Immediate Gratification to get the lowerpriced phone to get exposure to the Chinese Market but the phone was designed to run on a network with china mobile which is not operating at this point yet so theyre premature in this desire for a cheaper phone. Once that comes on line they get a little more exposure, that is a good deal and also like the fact that apple is sticking to their strategy with premium pricing model. Lasting i want to see them do is get into a strategy where they are following the rest of the herd with pricing a lower price smart phone. Cheryl how many years have we known each other . What do you say about this . I look at it differently. I think apple could get a bounce from here. One of our services brought in 467 looking at 479 but overall lot of people bought apple too high and filed in 600, 700, it is a classic case of a lot of people are sorry they are in and depend on the overall market which starts to pull back and people will book their profits and take the money. Cheryl one of the things about apple, do you want to respond to make the case about the tech sector, something you want to pick up on from kathy . I think at the makes a good point for those investors that got in too high, a classic mistake a lot of investors make. We established a small position of attractive value. When i leave this interview we are going back to our Investment Committee meeting and we are likely going to add to our position today and that is what many investors should do in this environment so theres a big difference from those who got in the stock a long time and for somebody looking to invest today or in the stock already with a modest position it is the right time to be adding to that. Cheryl before i let you go, overall market question, are you bearish at this point . I am cautious. The rally we are having in the dow is partially due to hey and Rising Interest Rates are much bigger risk than most people are looking at and that can destroy even the conservative portfolio, usually 60 in fixedincome. Cheryl a question to you, we are seeing a lot of equity of flows as well. I agree a lot with kathys point. Theres a lot of volatility and a lot of risk but i do think the markets will finish the year higher. We are still in an economy that is recovering. Im not extremely bullish where i expect huge returns from this point through year end, but it is possible both the dow and the s p and the year higher than they were at their peak this summer and in relation to bonds one of the other topics we are discussing is do we have a place in the portfolio for bonds at all right now . A lot of the things that any investor should do, short and duration, quality, in the face of what could be potentially an unprecedented bear market in bonds and a lot of our investors who are executives and professionals the markets require much more active management and that is what they turned to was for. And invest. Thank you so much. Appreciate it. Wants to let you know quick on friday the allstar showdown, we are back this friday. Scott martin returning this week for the allstar showdown results and robert and scott a true battle, scott, 20 year treasury and the Master Limited partnership, robert placed his bet on vanguards ftse and freeport mcnamara. And clinched a win, make it to the finals, 2 in friday at noon eastern time. Dennis coming up next why your morning cup of coffee might cost more but you dont care because you are among the richest viewers. Cheryl richmond, calif. Making history, details in the west coast minute. [ male announcer ] how do you get your boce . Im, like, totally not down with change. But i had to change to bounce dryer bars. One bar freshens more loads than these two bottles. I am so gonna tell everyone. [ male announcer ] how do you get your bounce . [ woman ] time for change Ashley Ashley webster with your fox business brief. Will set inventories up for the first time in four months, the value of unsold goods rising 0. 1 less than 0. 3 increase but it is above june up 0. 2 . Verizon launched a record 48 billion bond deal to buy vodafone out of their Verizon Wireless joint venture. Prices were in line with expectations for the offering which easily topped the previous record, apples 7 billion a year in april. Seventeen million u. S. Workers identify themselves as selfemployed, independent workers. Reporting to a report that is up 10 from 2,011. And 24 million by 2018. That is the latest from the Fox Business Network giving you the power to prosper. Cheryl Silicon Valley solving problems we didnt know we had. The problem of shoeboxes, the leader of digital photo printing. Liz claman is live for day 2 of three days in the valley coverage. Likes to let companies to solve problems. That is what they did, went public in 2006, 15 a share. Look what they have done since then and this year alone there up over 88 year over year. The ceo with a brand new products and breaking news just yesterday within 24 hours you have Broken Ground on a minnesota facility. How many jobs. We are so did cited were creating more manufacturing jobs, over 2,000 square feet, create hundreds of jobs just this year alone. For milk, south carolina, just opened a few months ago, more manufacturing jobs in new york and we will continue to expand as we are vertically integrated. Cheryl everyone has printed something, a photo or a keepsake, we have done it, did holiday cards a couple years ago but it is so much more than that and a little breaking news that may not have hit the tape. Coming out of apple yesterday amidst all the news they were coming out with their iphone 5 c what did they announce very quietly . They were closing this part of their Company Called ipod. You chased them out. We founded his company in 1999 and pioneered online photo sharing we had many large competitors come and go but innovation designed for our products and services, customer friendly policies and infantry beating policy, we continue to resonate and revenues keep growing and profits keep growing. Cheryl photo books are Award Winning and you have all kinds of story Line Software that helps people put their holiday photos or vacation photos together but aside from keepsakes like this is and ipad cover and we showed this before. These are your kids, right . My three boys, 12, 9 and 8. When apple came out with i card a couple years ago and announced it your stock got hammered. It came to 18 and up 2 . Gerri you never thought apple as a competitor. Dennis wall street overreacts to many players in the photo space but what we do is unique, were independent, singly focused and vertically integrated and monetize more than twenty billion of our customerss precious memories and make money doing that because we are offering value to help people tell their story. Cheryl this is what is different, he came from wall street so he knows the nonsense that comes out of wall street having been at city, having been, looked all the analysts and figured out what is going on. What strikes you right now . We were talking about how worried you are the fed has created a bobble and money is so cheap, the stock market you feel is overvalued. With lowInterest Rates and quantitative easing you have troubles in india and brazil and europe in malaise and Interest Rates rising so money is chasing yield and flowing into u. S. Equities and you look at that and risk housing and we are creating many bubbles again and the fed is creating liquidity to get people to land and get the economy going and at some point we have to pull back and let the economy stand on its own. Cheryl you raised the prices for the company and your stock has done extraordinarily well. We time to the markets perfect, raise 3 million and convert 3 months ago, 25 basis points. I am able to raise 300 million paying 25 basis points interest, great for shareholders, but we need an equilibrium back in the economy. Cheryl you are speaking smartly and intelligently and we will see if we get that point. I want to close you the newest products coming out with holiday cards that have all different kinds of edging and this is one of my favorites. This is called . Nuclear cards. Cheryl look at that. You see behind it made of plastic. Jeffrey houseandbold, agreed Silicon Valley store. In the next hour another one that started in 1967. Applied materials, the mic splinter, very difficult times. The Semiconductor Equipment business and so much more, live at sony play station headquarters, wait till you see the characters coming throughout the day on three days in the valley. Cheryl thank you so much. Appreciate it. Dennis inventories fall less than expected but coffee prices, phil flynn is going to explain why at the cme. Kospi lowered the forecast for the brazilian couple. It was supposed to be a record but were awarded by 1 million bags and adam top of the fact that it is a little strange, got the Coffee Market going today, up 365 on copy above 120 for the first time in over a month and that is bad news to get caffeinated. The oil market, very interesting seasonal factors, strong heating oil, weak gasoline and the refiners refining products at a record pace. Dennis we will take aim at the largest Oil Pipeline Company in north america, 26yearold analyst who sent shock waves through wall street after he called Kinder Morgan a house of cards. Charlie gasparino talks with him exclusively at 1 00 eastern. Cheryl time for your west coast minute, richmond, calif. Leaders approved a plan that will for the First Time Ever allow a city to acquire mortgages that are under water. The thinking is it would allow residents to remain in their homes, critics say it is a misguided use of Eminent Domain that could threaten the mortgagebacked securities markets. M m is private property. Seattle Office Space Market thanks to the technology sector, local developers in the first phase of a 36 acre office and Apartment Development complex that meet demand for companies and renters priced out of the market or cant find vacancies at all, expense is channel based Tech Companies like amazon and others suing high demand. Those are the facts for you and if youre thinking of going for a swim in Honolulu Harbor today think again. 233,000 gallons of molasses has spilled into the water. This is not only causing a sticky mess but killing thousands of fish. The culprit, a faulty pipe carrying that molasses which was supposed to be loaded onto a california bound container ship didnt make it. That is your west coast minute. Dennis molasses pipeline. I did not know that. Cheryl some pipe or something. Netflix, itunes, amazon with an online video service, too little too late. Cheryl look at the winners, the nasdaq, we will be right back. Clients are always learning more to make their money do more. ann to help me plan my next move, i take scottrades free, inbranch seminars. Plus, their live webinars. I use daily market commentary to improve my strategy. And my local scottrade Office Guides my learning every step of the way. Because they know i dont trade like everybody. I trade like me. Im with scottrade. announcer scottrade. Ranked highest in Customer Loyalty for brokerage and investment companies. Do you mind grabbing my phone and opening the capital one purchase eraser . I need to redeem some venture miles before my demise. Okay. Its easy to erase any recent travel expense i want. Just pick that flight right there. Mmm hmmm. Give it a few taps, and. Its taken care of. This is pretty easy, and i see it works on hotels too. You bet. Now if you like that, press the red button on top. How did he not see that coming . Whats in your wallet . Dennis target launch a new online video service, variety reports. Offering 30,000 titles to take on netflix conlan apple, itunes, amazon prime servers and walmart, retailers are allied with four Major Broadcast Networks and all seven of hollywoods big studios. For the hard part, target is linked to this party straying beyond its core competency and the news service may be too expensive. Now you see me, the magic and bird film available on demand for 5 but target wants to charge 18 for an age the unknown download which means you wont see me ordering and. Abroad member of dish network has resigned after dish been to bling 2 billion bid for of light squared potentially sparking a huge windfall for dishs channel, wall street journal says gary howard resigned after dish disbanded his special independent committee on the deal. Investment firm bought cheap bonds as it tumbled into chapter 11 and those hundreds of millions of dollars on those bonds. Cheryl stymied on syria, Vladimir Putins proposal thwarting plans to strike, lou dobbs on what we didnt hear in the president s speech last night. Dennis the call her round world, Charlie Gasparino brings us what brought wall street, will pipeline and the morgan firing back. You will see it here. No two people have the same financial goals. Pnc investments works with you to understand yours and helps plan for your retirement. Talk to a pnc investments Financial Advisor today. Folks have suffered from frequent heartburn. Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. [ cows moo ] [ sizzling ] more rain. [ thunder rumbles ] [ male announcer ] when the world moves. Futures move first. Learn futures from experienced pros with dedicated chats and daily live webinars. And trade with papermoney to testdrive the market. All on thinkorswim. From td ameritrade. Lori good afternoon. I am worry rossland. The latest wall street Firm Planning layoffs. Two new iphones get to the phone down. Out. Dropping the most since january. The president turns the sea area issue into a waiting game. Russia tries to show us how it will take weapons away from syria. Lou dobbs here in a moment. Remembering september 1112 years later. We are live at Cantor Fitzgerald charity day. Time for stocks now as we do every 15 minutes. Nicole we have been seeing the nasdaq composite underperforming the major averages. Ibm is helping the Dow Jones Industrials with its turraround. Lets take a look at apple. The question, of course it is somewhat on the news because we finally have the 5c and 5s, some of the analysts are questioning the cheaper version, the 5c, whether