Remember, we actually hit the debt ceiling back in may, treasurys been using extraordinary measures to extend it to this point. The bill would also require a bipartisan budget negotiation, and House Speaker john boehner says hes ready to start negotiating. Its time for leadership. Its time for these negotiations and this conversation to begin, and i would hope that the president would look at this as an opportunity. Reporter as for whether the white house will accept the republican plan, White House Press secretary jay carney indicated the president would. Sort of. If they continue to talk about ifs and butst as the speaker said doesnt get us anywhere. We havent seen anything from the House Republicans yet. Reporter so on budget talks, weve been there before. Democrats want tax increases, republicans want entitlement cuts. Neither has shown a willingness to compromise all that much. Cheryl . Cheryl all right, rich. Well, the white house is going to see their plan later on this afternoon, so well get more details then, thank you very much. Of course, hes going to be busy throughout the evening for us. For the latest market reaction, lets get to our floor show. Traders at the new york stock exchange, the cme group and, of course, the nymex. First to ben willis at the new york stock exchange, ben, you know, i dont think until today we really, truly saw how sensitive, how volatile the market is when it comes to the debt ceiling debate. But we are hopeful what happens tomorrow if this does not work out between the president and the republicans, ben . It wont be pretty. But this is a great example, youre going to want to save this in your files for an example of how markets trade on rumors. Weve moved 200plus points in the Dow Jones Industrial average on a rumor that the government is going to finally do the job that we sent them there to do. Its kind of a quasivoting booth, if you will. Were sending a very clear message to the elected officials in washington that this is what we fully expect you to do, and if you dont, you can expect what we have been doing in the days prior to this rumor. Cheryl well, you know, ben, our correspondent in washington, rich edson, who was just on with me, hes the one that broke the fact that there was going to be in this proposal from the republicans, the six week extension. Right. Cheryl but in my mind, that means six more weeks of shortterm fix to a longerterm problem that really has not been solved. You still have two parties, frankly, at war then. You do, and thats not going to go away anytime soon because weve only extended this to november 22nd and actually made the next negotiations even harder in the whole discussion. Volatility should be something that you should expect as an investor in this market. Were up close to 20 on the year on most of the major indices that we track here on fox business. That being said, when you get into this late in the game, expect volatility. 100point moves in the dow should be probably a daily event as we go forward if not triggered because of whats going on in the debt debate, it will happen because of the tapering debate that im sure will come back to center stage once this subject is put aside. Cheryl lets talk about whats going to happen with the dollar, ira epstein over at the cme, thats the big question as we move into the next fmoc meeting, and were going to get the minutes and that tapering, you know, the dollar has been weakened by this, maybe not so much right now, but the dollar is probably likely going to have more pressure on it as we go through the rest of the month of october, correct . Why are we limiting it to october . With the damage thats already been done, why not just say were going to get through the christmas season. Why would we give a Christmas Gift of tapering and wait until january, let the dust settle from this . Today the unemployment claims went up 15,000. Theres still a glitch, apparently, in california where 30,000 are known, but thats nothing. Youre going to add another 1530,000 on these furloughs to it right away. Weve got to get through this. I dont think the American Public is going to get a tapering Christmas Gift. I think theyre going to get a nontapering gift, and i think what happens with the dollar, you get a bit of a rally maybe initially off the good news3 coming out of congress and the president and then after that i think the dollar is going down again. Cherrl well, yeah. It doesnt have interest rates. Cheryl ira, thats likely, and weve heard that it may be after the first of the year, and thats likely going to fall on the shoulders of janet yellen whos now the new nomination for the fed chairmanship. I want to go to Jeffrey Grossman at the nymex and pick up on that samish sure same issue of tapering and the fed. Obviously, with oil were down about 103 right now today, do you think we see more pressure on oil prices not just because of the dollar but also seasonal effects on oil . Oh, without question. The truth of the matter is today was a classic case of we were the followers unfortunately. The stock market showed some resilience, and we went up accordingly. We had a market that was testing the lows right around 101. 50 area and teetering at that point because, again, we had a very, very weak inventory figure yesterday and truthfully, the market still is under tremendous pressure here. Its still going to sale on rallies. Today it got a little bit of a lift on like we said before, a bit of a rumor and speculation that things are going to get straightened out here. But again, we have a market that is not showing anything great. It was a little bit of a bounce. Its still in a down trend here, and heres one of the only positives you can look at, gasoline which has been pounded for the last week and a half showed some resilience. In fact, the hawk values, gasoline against crude oil, has bounced back a bit. So again, what i said a couple weeks ago about everyone getting that tencent gift at the pumps over the last week came to fruition, but i think that may have ended. So were probably going to level off here on gasoline, and thats probably what concerns the consumer the most. Cheryl well take that. Gentlemen, good floor show today. A busy market day but also a busy day for Business News and especially when it comes to wireless wars, big news breaking. Tmobile is at it again. Theyre shaking up the cell phone industry. And anyone who travels overseas, listen up to what is going on. Joining me now is john ledger, he is tmobile usas ceo and president. And you are making a big move with a big offer. Youre basically killing overseas. Cheryl, first of all, i want everyone to know what a pro you are. While you were paying attention i was taking pictures and tweeting them out, but you went straight ahead. [laughter] cheryl part of the job description, but your job is to take tmobile and basically kill the competition. My job is to talk to people like you with that at t phone and make sure you realize that wwat were about is soing pain points. Solving pain points. Weve solved the number with no contracts and anytime upgrade and the big one is the fear that everybody has about crossing a border and facing the bill shock of overages and restrictions. What weve offered now to our customers is in 115 countries Free International data roaming and texting, and 20 cents a moment for voice calls. That compares to you, if you dont have a plan with at t thats special, if you go over the border to canada and just use your phone one day, 30 calls, 30 texts, 1200. Cheryl i certainly understand your thinking here. What im curious about, though, one of the big problems for all the carriers has been all the Different Networks that are in Different Countries whether its cdma or gsm, things like that, has that evened out . Are things more level as far as playing fields from country to country . I would think that might be a cost issue for you. Well, two things. First of all, we have roaming agreements all around the world, so this is not an issue of special roaming. Most smartphones are quad band which means you can use them seamlessly. The issue is that 40 of the 55 million trips that take place, people turn their phone off before they leave. Heres my favorite stat, 20 say they would if they knew how. [laughter] heres the last piece ill tell you about this, cheryl, which is about caal it three or four multiple billions of revenues in these restrictions. The Gross Margins that carriers are making on this is conservatively 90 . So, you know, getting this revenue stream down is not a big deal. Its just stopping the crazy way people cheryl youre taking a shot at verizon, at at t. Obviously, you want to dominate, and it looks like actually losis in the last couple of quarters. So potentially theyre going to tmobile, thinking they are. Well, news flash, since we announced on carrier phase one since, you know, call it april we have added more phone customers than verizon, sprint and at t combined. So this revolution i call it around, its really catching on. And i think its going to be a tipping point. Cheryl also your stock, we should say, is up about 98 year to date, so investors are embracing you. Let me and you this because its all about investors and who owns your stock, are you worried about Profit Margins . What if the competition doesnt bite . They say were sticking with our cash cow of overseas . Beautiful. In fact, you know, the biggest way of solving a problem is you have to acknowledge they have it. So as long as these guys keep their head in the sand, beautiful. Ive only got about 12 or 14 market share, so the longer they wait as we migrate customers over, two other things have happened that are key. I also announced Stateside International talk and text. 10, you can call land lines in 70 countries for free. And lastly what should scare them, we announced yesterday that our nationwide lte network is now 202 million pops, and speed testing faster than verizon, faster than sprint and in 10 of 20 cities faster than the one thats on your phone. Cheryl i was going to ask you about data, but you answered my question. Theres a couple things i want to ask you about, first of all, blackberry. This is a partnership. Youre intertwined with blackberry, obviously. Sec filing showing us the founder of the Company Wants to make a bid for the company. Im curious what you think about that. Right. And i know him very well, hes a brilliant, brilliant guy, and i think hes doing his best with blackberry. We need multiple alternative players. There is still a cult following of people with blackberries, especially in the business market. So theres a place for them. Im not privy to the bidding for the company, but, you know, wed like to see we have a Good Partnership with them, we have a Good Partnership with nokia and now microsofttand, of course, you know, you can tell what im carrying around my c phone cheryl i see. Including this watch im using to take photos. Cheryl im with you. We are Kindred Spirits and, obviously, were going to be watching. And, again, we should say, you know, customers are going overr3 to tmobile, so were going to follow this very closely. Im going to come back, and were going to hold up your tmobile phone. [laughter] cheryl oh, all right. Well, well see. John ledger, ceo tmobile usa. Thank you very much for coming in. Well, closing bell going to be ringing in 49 minutes. So heres another story weve been following, twitter. Whats going inside twitter ahead of the ipo . Turns out not all the founders were on the same page ii its early years. Were going to find out whether twitter still has a dysfunctional startup culture. And how about an oldfashioned candy crush love this story hershey launching its first new candy brand in 30 years. Were going to have a little taste test. Well be right back. Cheryl so some curious details emerged from twitters ipo filing. Looks like the companys two founders, Evan Williams and jack dorsey, werent exactly following each other. Twitters s1 filing that dorsey transferred control of his stake in the company to williams, so why would twitters mastermind ever agree to Something Like that . Lets bring in our panel. Joining me is colleen taylor, tech crunch reporter. Colleen, thats the question, why would he make a move like this . Why give up control just as the company that he founded is going public . Why would he do this . Well, jack dorsey was very important in the founding of twitter, but there have been some revelations recently that jack dorsey isnt the only person who came up with this idea. There are some other people who are now coming forward claiming that they contributed some key code and also even the idea itself. Theres a man named noah with glass who was there at the early days. So i think with all of this controversy around the initial founding days and the initial founding idea, jack dorsey might have thought, you know, im going to step back a little bit at least at this moment. He still has a stake thats worth hundreds of millions of dollars, and so hell do just fine. But maybe right now with the controversy its time for him to take a step back. Cheryl well, what doessthat mean, though, for the company as well . Jack dorsey, i mean, hes, again, a big stake in the company, maybe not as williams, but at the same time, you know, pete, his name, the association of the name and this infighting, do you think thats going to affecting you know, the ipo . Are people going to be concerned about this . You never want to see that when youre buying shares of a company. I think its been pretty clear, twitters ride has not been super smooth. I dont think the infighting is going to surprise a lot of people. Its kind of how these startups work, and this is one that just happened to be very successful. As far as him giving up his Voting Rights, i think he kind of had no choice. I mean, Evan Williams apparently was funding twitter for its first year more or less out of his own pocket, and as the operations were going on, he was kind of having a lot of control and a lot of slate on the board. I think at one point when he realized jack dorsey wasnt being an effective ceo in 2008, he was basically forced out. Cheryl well, colleen, maybe he wasnt being an effective ceo, and we saw this through the evolution of yahoo over the last two decades, that maybe the person that found it with dorsey creating the tweet, etc. , maybe that person isnt the right leader, is that maybe the thing thats affecting the relationships now within the company . You know, pete made a really great point, and hes exactly right that every startup when you get inside of it is a mess, especially in its earliest days. And so this is a big news story right now, but its nothing thats too unusual. Its also important to mention that jack dorsey has a different fulltime job. Hes the ceo of a startup called square which has raised millions, hundreds of millions of dollars and has a big opportunity ahead of it. And so for him to focus more completely on square, again, hes still going to stand to make hundreds of millions of dollars here, so the Voting Rights might not be as important to him. Its probably smart to step back and allow other people to control things. Cheryl you two are the tech experts, i am not, so i want to ask pete, first, to you your deal with comcast and this link thats going on between twitter and comcast and anybody thats got the television service, basically, twitter and your television are now more connected. Is this a, is the Technology Solid and, b, is this a good thing for twitter, can they make money off of this, more importantly . El, the second point well, the second point is the most important one. For its viewers, its user base whether or not it works is most important. They havent deployed it yet, so were going to have to see, but apparently the idea is you press one button from a tweet and you can actually see a Television Show that the tweet is about or a movie. Its a great idea. I mean, twitter is a very natural Second Screen app, so like, basically, you know, when the final episode of Something Like breaking bad happens or some big tv show is going on, people naturally flock to twitter. So generating advertising revenue is a nobrainer, this seems like a good step. Cheryl colleen, yes or no on this comcast twitter relationship . Yes. I think that as pete mentioned, Second Screen is what its all about these days. I bet most of the people watching this program arent only focused on the television, they probably have a laptop in their laps or a mobile phone in their hands, so this is a Natural Partnership and, hopefully, it makes them some money because twitter is not profitable yet. Cheryl i could make a joke was im on because im on my laptop. Colleen, pete, thank you very much. It happens. Guys, thank you very much. My pleasure. Cheryl all right. Well, it is time to trade the trends. Here is a look at the companies trending on twitter right now,3 and this is according to stock twit. Youve got to follow that, by the way. Take a look at the companies that are trending right now. These are the tickers, and stock twit puts it out like a dollar sign, micron, google and microsoft are the three names they are watching right now. Dont forget to follow this show, fbn countdown, and theres also an cheryl can casone somewhere in there. 49 minutes to go until the closing bell, and dramatic new developments in the battle over blackberrys future today. Were talking to ledger about it a moment ago. The very latest on what could be a gamechanging proposal from one of the companys founders. Also, House Republican leaders are heading to the white house this afternoon with a new proposal to break the debt ceiling deadlock. But will it do anything to end the gridlock in washington . Were going to get the views from former paypal ceo bill harris. This is a fox business exclusive, and its coming up. Sometimes they just drop in. Always obvious. Cme group can help you navigate risks ancapture opportities. Enable you to reach glal markets and drive forward with broader possibilities. Cme