Transcripts For FBC Markets Now 20130920 : comparemela.com

Transcripts For FBC Markets Now 20130920

Things made me extremely uncomfortable. Connell i did not know what was going on there for a second. Apple, it is the story of the day. Rolling out the new iphone. The 5c, the cheaper one and the 5s. It is all about the gold. The ship date has already been pushed back to october for online orders. Though gold phone would likely be gone by the teeple got to the store. Wall street journal reported that demand is so high that the phone has the Fingerprint Technology on it, it improves camera, fast processor. Dagen i have to point this out. The colors are the gold and silver are strips on the back of the phone. The front is still white. Most people buy a case to cover the back so it does not break if you drop it. What difference does it make . Buy a case and be done with it. Go on with your bad self. Connell that is my transition to nicole. Nicole i hear what you are talking about. There have been so many people standing outside the as you noted, though gold right away is now not available. You do see that apple is doing well. Year to date, apple is still under pressure. While they do have new products and hopefully these do well for them, the question is do they have that innovation. Do they have the next project. Everyone is still waiting on that i watch. The cheaper model is apparently really supposed to get them some bigger about. I drove by this morning. It is complete chaos. Connell the houseboat, by the way is underway. Dagen ridge at third is on capitol hill with the very latest. Charles eventually, the house will probably vote around noon time. The senate still has a say. While this issue or idea seems to be amenable to both sides, it is all about this fight over obamacare. The president S Health Care law is turning our fulltime economy into a parttime economy. Some want to see this law drastically changed to avoid further nightmare scenarios. What is brought to the floor today is without a dow a measure designed to shut down government. It could have no other intent. When the house passes this today , it goes on to the u. S. Senate. Likely, the senate will send back a bill that just funds the government. Whether or not he will put the bill on the floor. Or whether he just sits on it. We will see about probably in the next ten days or so. Dagen what are the chances you think that the Government Shutdown . There really is not much of an appetite. The problem is john banner has to make sure he remains speaker. There is a strong feeling that they do not want to defund the government. Dagen thank you, rich. Steve moore is also in washington. What is to gain on the republican side . You were talking earlier about the iphone in complete chaos. I think this story is complete chaos. They have passed this budget resolution, this budget continuing resolution. This does not include the do funding of obamacare. The question is, what do republicans do at that point . I am not sure if they have thought that far ahead. I think that the likelihood of a government shut down is very low. I think most of the republicans want to get this resolved. Even if they pass a budget in a past a budget that does include the funding of obamacare, you also have a fight of the debt ceiling. Lets stay with obamacare. Do you think that the appetite will grow among the American People and thereby lawmakers to defund it later on . Right now, they want to go back to the 2009 health care system. Today, wall street journal reporting there is a pricing glitch. Again, the federal government running exchanges. A growing disaster. It is almost every day that there is some new story about how it will not work. I believe that whether or not there is a defunding of obamacare this year, that as the weeks progress, i think that the wheels are coming off and you may see, in six months, even democrats saying we have to get rid of this law. Dagen if the Union Leaders start yelling at the democrats more and more and more, watch out. Thank you very much. Connell we are joined with the markets perspective on all of this. The debt ceiling fight is much more serious than we hoped it would be. Here is charlie from chicago. It does seem that things are a little more serious than we thought. They may go for that. I do think eventually we will get through this. I think there is a risk of uncertainty. Connell we do listen to what you say. We wanted to pick your brain a little bit about what you will think will happen with the markets. The whole point of our firm is slow and steady. You have to focus on the long run. I think you will see Interest Rates move around. You will see days where the dow is up and down. First of all, what do you expect . You have been nice enough to have me on your show. For about a year or so, the bond market has been in a bubble. We got the 3 . We would say that people should not own a lot of longterm bonds. A lot of the damage has been done. We are not telling people to be quite as negative on bonds as we were a year ago. Dagen United Airlines making a list of carriers test at service. They are not at top. Connell t. J. Maxx fans can shop online now. I guess this is big news to some people. Dagen i told you so. One federal watcher, he said if they were paying attention they would know take a look at the oil market. Nascar is about excitement. But tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. Thats why we partnered with hp to build the new nascar fan and media engagement center. Hps Technology Helps us turn millions of tweets, posts and stories into realtime Business Insights that help nascar win with our fans. 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. Dagen home depot joining the growing number. Nicole that is right. We are taking a look at dow component home depot today. Right now, the home depot stock is down half of 1 . The change that they are doing rough lax about half of parttime workers. Now, they will not be able to, under the new health care law, to be able to do that. They are shifting over these parttime workers. They, apparently, have more options. These exchanges are also subsidized by the government. This is what trader joes did as well. Connell who needs to spend big bucks to travel first class. Porter airlines in fifth place. Southwest, with all due southwest in the top five. It is fourth. United airlines in third place. Virgin america is number two. Jetblue is number one. Not a huge surprise. Dagen you get a lot of bells and whistles flying on virgin and jeff luc. By the way, first class domestic, it sucks. It just is not that good. You get Copious Amounts of alcohol for free. Connell make note of that. [laughter] dagen t. J. Maxx now letting shoppers buy items online. This in an effort to lower new customers and give existing ones the chance to shop around the clock. The best part is t. J. Maxx is allowing customers to return Merchandise Online to any of its 1000 Stores Across the country. Take a look at the stock today. It is discounted merchandise. They have everything there. If you are shopping at saks or something that keep the tags on it. Connell it looks like he is trying to break the ice with the united states. We will talk about that and oil prices coming up. Spew forth the same Company Responsible for background checks that let edwards noted slip by is also who led the d. C. Shooter slip by. Um. Wheres mrs. Davis . She took 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 . 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. Connell breaking news as we go back to washington. Stripping out the funding for obamacare. Rich edson has been covering it all. Rich one republican voted against, two democrats voted against. It also defund the president S Health Care law. This will now go over to the senate side. This is a much needed step for republicans. It will require a number of democrats in the senate to either defund or fund the president S Health Care law. In the end, we have a game of pingpong going on here. The house has passed its version. They will likely strip out the obamacare defund. Sometime late next week, House Speaker john boehner will have some choice. Thank you. Dagen time to make some money with charles payne. Charles that was a pandoras box. I always try to find these diamonds in a rough. They make crystals. They do a lot of things in Tech Knowledge ease. They have the sapphire glass that is used and a lot of different products. This is three times stronger. It is also better for the touch technology. It is baseball company. This is why i kind of like it. You can see the chart. It made a pretty big move a while ago. I think this will be a big percentage game. It is a smaller name. It may be a little volatile. It has absolutely huge potential. We do know that they probably the nextgeneration of these things will need better class. The only thing stronger than the sapphire is diamonds. They say on social media, there is a mention of a broken screen every three minutes. Connell it makes people so angry. Thank you, charles. Dagen irans president coming forward about the goals of his Nations Nuclear program and the woman leslie to engage in diplomacy. Connell picking up his game when it comes to raising charity. We will have that story coming up. Before we get to that, we keep an eye on the markets. Here are some winners today on the s p 500. [ 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. Dagen one of our favorite guests is here. Here is what is coming up. The message from irans new president is diplomacy. Reading the right message from the Federal Reserve. One bernanke watcher knew exactly what the fed would do. Then, the middle of a playoff run. The red sox making a big pitch for charity. Connell we will go back to one of our favorite reporters. Nicole petallides, it happens to be her birthday today. Happy birthday. Nicole thank you very much. We are taking a look at darden. It turns out people are not finding the never ending pasta bowl enticing enough. I personally like the salad bowl. They felt worse than expected. 37 . They continue to try to revamp the menu. They say that they face higher costs, labor costs as well. It also turns out that people are going elsewhere. The lighter, cheaper options have not quite gone at enough momentum. The Sales Numbers have slipped into the not good news for darden. Back to you. Connell thank you. Enjoy the day. Dagen iranian president is using a Washington Post ad for constructive dialers on. Connell the president they consider meeting with the new president. Thank you for having me. First of all, what do you make of this . I think it is very much welcomed by the obama administration. I think they will take anything, in terms of resetting administration. The question is, what they really do anything . If we embrace this, do we look like a nation that is leading them walk all over us . They offer anything. Rhetoric is nice. Will they freeze higherlevel enrichment . It really remains to be seen what they will put on the table. If they do not offer much, i do not see how we really get a deal. What about market people . What is the big oil story, if there is one right now. I expect positive noise. Then the question is, what happens. Do we get anything substantial . Will we offer them relief from sanctions . It is always the second and third meeting where things kind of fall apart. Dagen keeping oil prices extremely high because they need the revenue. Absolutely. Thinking about the iranians, they want higher prices for what they can export. It will be very difficult for them right now. They are spending so much money to prop up the regime. Connell the president used that phrase tons of times. How do we look out i wrong now . Is it just a roll of the eyes . The rhetoric is certainly a lot better. Again, you go back on the question of will they actually freeze again . I think that is the big question, in terms of do you get a breakthrough. Dagen do we get a break and oil prices, do you think . We still have significant outages. We want to see if we get libyan production back. We are back up to around 600,000 barrels. The question is, where does it swing next . I remain pessimistic about a deal in the near term. Dagen thank you. Connell it is all about job creation. Why the bill will come on the heels of better job markets. Dagen focusing on raising money for a charity. Connell we will have that coming up on markets now. More on the release of the new iphone. We will get you treasuries first. 274 on the ten year period. 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 each morning 24 hours. Zero heartburn. I am adam shapiro with your fox business brief. Target will hire about 20 fewer holiday workers. It is down from 88,000 they hired for Seasonal Work last year. Goodyear tire will pay a Quarterly Dividend of five cents a share on december 1. The first dividend and 11 years. They also announced a 100 million Share Buyback program. Walt disney and bruckheimer announced they are ending their 20 Year Partnership next year. That is the latest from the Fox Business Network. Giving you the power to prosper. [ male announcer ] legalzoom has helped sta over 1 million businesses. Idea, we have a personalized legal solution thats right for you. With easy stepbystep guidance, were here to help you turn your dream into a reality. Start your Business Today with legalzoom. Were here to help you turn your dream into a reality. Nascar is about excitement. But tracking all the action and hearing everything from our marketingartners, the media and millions of fans on social media can be a challenge. Thats why we partnered with hp to build the new nascar fan and media engagement center. Hps Technology Helps us turn millions of tweets, posts and stories into realtime Business Insights that help nascar win with our fans. Connell we have a couple of nice happy stories. We have a cancer survivor. Giving back and traveling around the world. We are in los angeles with this story. A very inspirational story for your friday. He not only won the world series, he also pitched a nohitter. Now the current manager says that is one come back you will never forget. Somewhat of a storybook ending 22007. It set the stage for the career to really take off. The never quit campaign. Laster that it was time to focus in another area. He is doing just that. On nights he is not on the mound, he meets with children and parents who are fighting pediatric cancer. Was it hard . Yes. It was hard. I think it helps you later. You know. Once it is over, nothing else holds you down. It was easy for you; right . You are strong. Good. Since he feels these visits are part of his obligation to give back. Everyone is different. There are some guys that want to be role models and there are other guys that just want to be a baseball player or basketball player. Whatever. They do not want the responsibility. I feel like the position we are in, you do not really have that choice. He has visited kids with cancer and eight majorleague cities. Back to you. Dagen thank you very much. You listen to what bernanke said over the summer about unemployment. Jim joined us now from baltimore good to see you. If it was so obvious, why werent for people in your camp . We are very pleased that we were able to focus on the economic fundamentals, not the sort of persuade if by the change and conventional wisdom. I do think if people followed bernankes guidance, it was going to be conditional on the improvement in the economy. Job growth slowed. Inflation fell. In that context, it certainly did not surprise us at all to see the delay in tapering. A move in october would be very unlikely. I think the committee will need to see several consecutive months of positive data before changing course. I think the bulk of the tapering will happen next year between march and december. We think the fed will end up buying another trillion worth of bonds. Dagen is that economy really so lousy that it warns that . We need structural reform and progrowth fiscal policy. It does not appear likely given the functional relationship with washington. I do think it has been helpful, particularly this year, and offsetting some of the political drive. I think we have seen this this year. Dagen eventually, we will as a nation, we will have to feel some pain when the Federal Reserve starts to pull back. When the central bank started talking about pulling back, Interest Rates started going up. Activity literally dried up. You had things coming out and annou

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