Transcripts For FBC Markets Now 20130909

All that and more is coming up. Keep it here on this hour of markets now. Connell oh, hey, it is just the on camera. Dagen we did not just get enough of you. Connell i handled that awkward moment very well there. I was prepared. Dagen monica is the one who really started that. The first female player with an aggressive grunt. Connell anyway. It is good to see you. You look great. Dagen market up. The dow snapped a four week losing streak. Nicole so much love on the set. The Dow Jones Industrials, one thing worth noting here. Above 15,000. 15,011. All of the major averages are looking good. The Dow Jones Industrials up about 89 points. The dow is a broadbased rally. Just about every name has an up arrow with a couple of exceptions. We have seen verizon and pfizer pulling back a little bit. Right now, we have kicked off this new trading week in an upward fashion. Connell members of the house of representatives, the entire house, getting a classified briefing. Dagen speaking of media blitz is, the president starting one today as well. Rich edson is live with much more. Rich though full house and Senate Return to capitol hill. They will receive a full house briefing today at 5 00 oclock. A full Senate Briefing at the same time. Trying to push an okay from the congress when it comes to intervening in syria. Today, the president does a number of interviews. Tomorrow, he will meet with Senate Democrats personally. Meanwhile, there is major skepticism here on capitol hill. Why . This is the war that will support al qaeda in the same people that killed americans on the 11th of september. Rich john kerry is talking about an unbelievably small attack on syria. John mccain has been calling for any type of strike on syria to change the course and the civil war there. That is something that continues to work it self out there in congress. The senate will likely vote on that syria authorization later this week. Connell as we wait for all of that, mike baker joins us. Mike calling in with his view on the syria crisis. What do you think . Is this all worth it . Well, yeah. First of all, i would not pay a lot of attention to what assad says. It is so bizarre that we are playing this out in such a public manner. I do not even know how to process some of this. Frankly, the idea that the president punted to congress, i think what happened was, you know, he felt as if he had the wind at his back. Politically, he thought this would be a very sound move. He looked at the polls and, you know, he realized that the allies were not backing this. He felt that the best thing he could do was to pick it over to congress. Connell from the point of view from the military, what is the point, in your view, how will the world be changed . What will happen as a result of these strikes for the United States if they do indeed happen . Well, if in fact he decides to do this, if he decides to do a limited military strike, i think the results will be negligible. What is the end game . It is usually not a good idea to engage in military activity without an operational strategy. Without a plan. Without an objective at the end of the day. I do not see what our strategy is. Connell it almost seems like our hope is for nothing to change. The best Case Scenario is there is no retaliation from assad. We almost keep with the status quo. The flipside of the question is, what happens if we do not act . If we had struck quickly, that would have been months and months ago, if we had struck at that point, then, yes, we could argue that we were making a very bold, very strong statement standing on principles. I think they see what is going on. The president came out the other day. He said my credibility is not on the line. I am not doing this because of my credibility. When you are commander in chief, my understanding was that is where it all stopped. You were supposed to have broad shoulders so you could carry the load. That, apparently, is not the case anymore. Connell you are right, it is almost surreal, the whole thing. Mike baker, thank you. Dagen. Dagen onto these markets. A limited military strike. Brian wesbury joining us from illinois. The markets do not seem to be too rattled at all about the potential of all of this. That is dangerous, is it not . You know, you are absolutely right. If somehow this word to lead to World War Three in china and russia got involved, obviously, the markets do not have anything like that priced in. Personally, i do not think that they should. Thoughts are so tiny, i do not know how you price that in. Where is the principles . What i want to do is brought in that out. We do not have principles about economic policy, not about foreignpolicy. It kind of reminds me of the late 60s, 1970s in america. That worries me more for the markets than what they just happen in syria over the next couple weeks. Dagen have the markets factored in the damage that can be done by oil is already trading at 110 a barrel. That does not hurt somehow . We have absorbed it very well. We are such a big producer of oil now. Our experts were up 11 year over year. Our imports were down 12. 5 . I think that is one of the reasons why americans we need the middle east less and less and less. It is not far on the horizon. We could be running a trade surplus in oil by 20162017. Dagen it protects our supply, but it still does not give us full control over the price. We have been that 100, 105, 106, 110 and we have operated very well. Retail sales will look pretty good. The economy is growing despite these high energy prices. Dagen good, not great. I call it, i will probably get dinged here, i call it the plow horse economy. It is not a racehorse. It is a plow horse. It keeps plodding along. It works for the stock market. It works for growth. It is not working for about the people, but the bottom line is it is working for the economy. Dagen thank you. Good to see you. Take care. Good to see you. Connell we somehow make a transition to miley cyrus and her performance. It may have cost her. It may have cost her the cover of vogue. Dagen lets get some video of that. Connell a family program. Dagen a self driving car to the public. Connell oh, great. What could possibly go wrong there . Eliot spitzer the next comptroller of new york city. The impact if he wins. First, lets take a look at oil. Just below 110.  . . Peace of mind is important when youre running a successful business. So we provide it services you can rely on. With centurylink as your trusted it partner, youll experience reliable uptime for the network and services you depend on. Multilayered Security Solutions keep your information safe, and secure. And responsive dedicated support meets your needs, and eases your mind. Centurylink. Your link to whats next. Connell we are back here on market now. We have karl icahn in the news. We bring back the call. Nicole enough is enough. It would almost be enough for karl icahn to win this one. It looks like he is backing down. Bowing out the efforts to block the founders effort to move forward this one. It is interesting. Michael dell and silverlake may have been under more pressure to increase their bid. It looks like michael dell is able to move forward with this one. Dagen thank you so much. Vogue editor and chief reportedly pulling miley cyrus off the cover of the magazines december issue after her raunchy performance at the mtv music awards. It drew the world attention for all the wrong reasons. She does not have the booty to get away with it. It was not offensive. She is not even that good at it. Connell instagram. Instagram topping the amount from february. It has come a long way. Emily white announce that the service will have advertisements in about a year. I think dagen is doing and instagram of us right now with me pointing at the camera. You do realize we are on television. I am sure your Instagram Account is less exciting than a lot of us think. Dagen it sounds like a scifi movie. In just a few years, there could be self driving cars on the road. This video is not of a driverless car. It shows the same concept. Connell i think i mentioned this on the show before. I did the concept just driving around the parking lot. It is cool to do it. It is not for me. Dagen what happens if the car is driving itself and you hit a psycho list . Tobacco companies are watching. Results are next. Connell paul atkins coming up. Very outspoken remarks about Elliott Spitzer. We will talk to him about that straight ahead. First, on markets now, look at world currencies. We will be right back in just a moment. This man is about to be the millionth customer. 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Serena williams claimed her 17th grand slam single title. She dropped just 16 games in the tournament. Those are your News Headlines on the fox business network. Dagen thank you so much. She is the greatest female tennis player of all time. Connell absolutely. Great match. Many of you, i am sure have seen these graphic antismoking ads. Dagen jonathan has the latest. 80 of americans saw the first round of ads which aired over a threemonth time. It started to go piece by piece. First it was my left leg. After my left leg, it was my right leg. Now i am a double amputee. We think this is a testament to the incredible power of the real stories that these real people told. This is exactly what smokers had told us they thought would work the best to support them and motivate them to quit. Back to you. Connell what about the Financial Impact . This is a Worthy Investment when you consider the must higher average healthcare costs associated with smokers. A smoker costs about 2000 more than a nonsmoker. If you do the math, this program pays for itself in a year or two. Because a smoker increases their Life Expectancy once they do quit, this has added a total of more than 300,000 years of life to the u. S. Population. Dagen thank you. Be well. Connell High Expectations on the farm. We sent jeff flock out today. He will have a live report. Dagen football fever. We will talk about life after football with one former player that is now managing more than a billion dollars. Speaking of winners, here are todays on the s p. Before copd. I took my son fishing every year. We had a great spot, not easy to find, but worth it. But with copd making it hard to breathe, i thought those days might be over. So my doctor prescribed symbicort. It helps significantly improve my lung function starting within five minutes. Symbicort doesnt replace a rescue inhaler for sudden symptoms. With symbicort, today im breathing betr. And that means. 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A big move for this particular name. If it is going to be one of the members, everybody has to buy it. That is exactly what they are doing today. Dagen thank you. Secretary of state john kerry we asserting charges of chemical weapons used in syria. Listen to this. We will be able to hold of saud accountable without engaging in troops on the ground or any other prolonged kind of effort in a very limited, very targeted very short term effort that their grades his capacity to deliver chemical weapons without assuming responsibility for serious civil war. That is exactly what we are talking about doing. Dagen limited target. General, it is great to see you. Small, limited, it sounds very easy. Is it understated what would and could happen. Nobody knows. What we also know is that this is a vicious, a heartless, a bloody sectarian civil war and both sides are committed to fighting themselves to the death. It could not possibly have a strategic significance. After the strike is over, it could get us involved in something that could last for years, if not decades. We have to be very careful. A white touch on a very serious conflict. It violated some rules of engagement, if you will. It clearly is not a possibility at this point. There are several others. It shifts the time advantage and the initiative. He has a couple weeks now to hide his strategic assets. To camouflage them. It makes it more probable the ability of a light strategic possibility. When you go to war, you apply overwhelming force, clearly, we are not doing that. Most importantly, the principle of the objective. You have to explain to the American People how well this ends. What road or what path do we have to follow . So far, we have not heard any of that. Dagen what have you heard from active members of the military . Obviously, you do not want to go into details or mentioned names. Soldiers opinions generally follow those of the American People. Roughly. Soldiers, when it is time to go to war and push the buttons, our men and women in uniform will do the job. They will do it with complete allegiance to the National Command authority. It is this march to war against the diabolical and evil enemy that causes all of this uncertainty. Dagen lets thank those that are putting their lives at risk this very day. Connell triple digit temperatures promised across the midwest. Dagen jeff flock has more on this. Jeff hot old summer sun makes you bag for your next breath. There is a drought again in the midwest. 100 degrees expected today. This is a site of what they call a seed field day. About 100 people going together in this barn today to take a look at the crop. It looks bad out there. We did not expect it. I think the beans still have a chance. The forecast just is not in our favor right now. Jeff burlington, iowa, you take a look at the numbers. In the summer, so far a record low amount of brain. Almost 4 inches. One extreme to the other. Connell at the 1 00 oclock hour, we will talk to these folks. They plant a drought resistant corn, a lot of them. Stay tuned on that one. Dagen do you even know who sang that song, jeff . Jeff it was hank junior. Connell there you go. Dagen okay. Football is back. An exciting weekend for fans and players. What about life after the game . We will talk with one former player that is managing a lot of money these days. Connell some strong questions about Elliott Spitzer and his run for new york city comptroller. Dagen we have those stories coming up at the top of the hour. My mantra . Always go the extra mile. To treat my low testosterone, i did my research. My doctor and i went with axiron, the only underarm low t treatment. Axiron can restore t levels to normal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions and meditions. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts; problems breathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor about e only underarm low t treatment, axiron. I am lori rothman with your fox business brief. The eu has been investigating since 2010. Forecasters are maintaining their rosy view of the economy next year. They are predicting 3 growth by the Second Quarter of 2014, low inflation and improving employment. It works out to 38. 50 a share. That is the latest from the fox business network. Giving you the power to prosper. Connell we are back on markets now with a Great Success story. Former nfl player taking on wall street. Manages 2 billion plus through his company. Former new england patriot player. Thank you for having me here. I certainly like to let a lot of people know. Connell a great accomplishment. I watched a lot of football growing up. I would probably be done playing by the time i am 40. I learned about economics at el. I did my senior thesis. I was putting in place a career after the game. Connell the nfl is a bonus and a pretty good one, mind you. Not a but of nfl players went to yale or Ivy League Schools in general. I think it is kind of a difficult thing. The players are so diverse. They do have programs in place to help with transition. At the end of the day, it is up to individual players. You have some judges, but, essentially, you have young guys who end up with a lot of resources and their major interest is not playing football. The best you can do is make it available to them. Connell having a mentor like you would need a lot. What do you think of the market these days . I think 2014 will be a good year. Manufacturing is strong. The economy is not completely recovered. I do think it is time for the fed to remove itself from the market. I am constructive here. I think the market goes higher. There will be volatility between now and the end of the year. Connell it is a great story. Dagen shares of black very up on reports of an imminent buyout. It is up 5 . Still down year to date. Is this a tricky one . The reports are now getting widely dispersed. He has no funds act up with canadian pension funds. He is well known for wanting to protect intellectual property. The blackberry is the premier technology company. I think this is a pretty done deal. It just depends on if they will come out with eight deal. Dagen a lot of buyouts to talk about today. I love that the fact that one of the fires it is a perfect combination if you ask me. Connell should wall street the worried about Elliott Spitzer . Dagen paul at tends think so and he joins you with his take next. Weekdays are for rising to the challenge. 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 of the week. Centurylink® your link to whats next. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. Speed. A former sec commissioner. Wall street and the city of new york should be concerned with Elliott Spitzer. An important job. Do not write it off. Big decisions. The latest poll shows spitzer trailing. Paul atkins joins us now. It is terrific, serve, to have you on. We talk about the spitzer scandal. The reality of it, what would it be . I think you have to look at what you said about how he would approach the job. We should look at it as a metaphor for what he should be doing as comptroller. If you look at how he use or misuse, his position as attorney general, the comptrollers job is very important. Especially for the hundreds of thousands of retirees and people who were putting money into the retirement system under the city of new york. Running the job i would think would be very worrisome. When it finally ended, there was a big cheer. Spitzer was known over the years for going after those firms. Nothing would happen in the case of the settled out of court. The comptroller, first of all, the Comptrollers Office ought to be focusing on trying to root out problems in the City Government and making sure that the citys books are in order. Then, of course, to try to build the Retirement Funds for City Employees when they retire. What he could possibly do is those are spread out into various securities. He could be a very activist investor, as we say which may not be for the good of the shareholders of various companies. Connell potentially damaging affect if that were the road we were to go down. One question outside of spitzer. We are now approaching the five year anniversary. Where are we . It is a mass of all sorts of things. It was never very well put together or taught through. I think it is creating a lot of uncertainty for businesses, especially in the Financial Sector there. That is one reason why the recovery is still not on solid ground. Connell we hope you will come back at some point. Thank you very much. Dagen karl icahn throwing in the towel. Coming up, the challenges now facing dell and the entire computer industry. Connell forget the stock market. It is about the home market. 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. [ 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. Welcome back, dow 15,000. Im dennis kneale. Cheryl im cheryl casone. Washington and the marks, strong china data, and investors are cautious. Military, political, and investment angles to the top story today. Dennis carl icahn throwing in the towel and admitting defeat. Can going private fix dells real problems . We have a tech maiden coming up. Cheryl luxury home buyers say forget the stock market. Its about the home. We have the ceo of better homes and gardens, the Largest Survey of high end homeowners ever done. Dennis instagram takes on twitter. Will it work . Ahead in media minute. Cheryl top of the hour, stocks every 15 minutes, nicole on the floor of the New York Stock Exchange, up a hundred points, nicely done, nicole. Not bad here. 15,029, a few points off the high. Triple digit gains after snapping the losing streak weve been on. Four straight weeks of losses, and, yes, last week bounced back and cleared the way and had gains. Everybody is watching the wild cards like syria. The dell story is a big one. Apple and blackberry two big stories were following, and the housing sector looks good as well as the housing index breaking 15day movinages and record highs seen recently. Recent highs, back to you. Cheryl nicole, thank you so much. Dennis now to the latest in syria. The assad regime losing support in the arab league. A group of ministers condemning the syrias leaders attack on its people, and a meeting denying assertions saying the Obama Administration lacks evidence to prove that they used chemical weapons. Rich edson has the latest. Dennis, international condemnation, but few countries willing to at least endorse any type of military attack the United States would lead here, meanwhile, in congress, its the same issue. Theres condemnation of what the assad regime has done; however, while there might not be questions here as to the intelligence, theres questions as to what the United States should be doing. A number of lawmakers came out against this. Its still not certain yet which way any type of votes going to go in congress or a vote here in the senate, likely in the house next week, and theres a lot of outstanding questions. The administration continues the pressure. The chief of staff will be up here today. The president enings himself, is meeting with senate democratting tomorrow and the push continues with series of briefings this evening for law lawmakers. Theres the International Pressure and what Bashar Alassad, himself, is saying after he spoke with cbs this morning. The United States doesnt Obey International Law and trample over the charter of united nations. We have to worry any administration, not only this one, would do anything, but according to the lies weve heard for the last two weeks from high ranking officials in this administration, we have to expect the worst. Secretary of state, john kerry, speaking internationally saying that the conditions could be met for no strike if every single chemical weapon were met, and the administration went on to explain it was a rhetorical comment, something he believes the assad regime would ever do creating confusion and one that the United Stateses opponents run with. He said, kerry, that the United States would be looking at an attack that would be unbelievably small. The response from senator john mccain is that that comment is unbelievably unhelpful. Back to you. Cheryl all right, senator mccain on twitter. Rich edson, thank you very much, appreciate it. For more, bringing in Vice President for foreign and defense policy studies at the American Enterprise institute, and, danielle, in the interview with charlie rose, assad did say that you, the United States, should expect everything, not necessarily from the government. Is he referencing allies, you think, iran . I think hes referencing not only friends in iran, but the terrorist group, hezbollah, that hes been the main supplier for, and other terrorist groups that have headquarters in damascus and sponsored by jihad, for example. Cheryl also, at the same time, look back over the history of syria, two, three years ago when senator kerry had dinner with Bashar Alassad and his wife, you know, the iraqis then poured millions, some say billions of dollars, into the syria economy. How far does iran go, do you think, to defend syria if this strike happens . I think thats a great question, and, of course, only time will tell. My reckoning is that the iranians are not interested in drawing the United States or anybody else into a larger war. They got a lot at stake. They are close to a Nuclear Weapon, even more than one. Why would they possibly want to bring us into a larger conflict . My guess is they stay out of it, and assad tries to get proxies with some deniability to engage in any retribution. Cheryl talk about president obama because you wrote in an oped for fox that basically that president obama effectively partnered with Bashar Alassad in april of 2013. What do you mean by that . What i meant, simply, is when you lay out a red line, put yourself in a position of having to do something, if you receive evidence that some bad thing happened, in this case, the use of chemical weapons, if you dont want to act, what you end up doing is you end up lying on behalf of that other power. Does iran have a Nuclear Weapon . No, they dont. If they did, of course, wed have to do something. Did Bashar Alassad use chemical weapons . Well, in april of this year, and on 13 other occasions, he did, but the United States and president himself said nothing until this particular instance in august. Thats what i mean by partnering. Its always a bad idea to set out red lines if you have no attention by abiding by them. Cheryl its widely reported that president obama made the red line comment in august of 2012 off the cuff. It was not something in his talking points, that had been approved by his press secretary, and that now he painted himself into a corner r trying to find a way to get out of it, and now we are talking about a small military strike in syria. If it is a small strike, something its an air attack, does that have any effect on assad whatsoever . Is that going to make anything any better for the people of syria . I think what you said about the president off the cuff remark is underscoring because its not just that he made the red line comment off the cuff in the last years election, but making every remark off the cuff, and secretary kerry today said the attack would be unbelievable small, as you reported, is meaningless. They are never going to manage to persuade anybody of the wisdom of this strike on syria if they cant outline what its going to be, and if its not part of the strategy. Thats the challenge before them. Cheryl all right, thank you very much. Youre someone certainly an expert on syria and middle east overall. Thank you. Pleasure. Dennis congress is just back from a fiveweek break. Nice vacation. Returning to take on the syria situation, debt ceiling, and how to avert a government shutdown. Lets discuss the outlook with dylan glenn, managing director, former special assistant to president george w. Bush, and Christian Dorothy of the academic policy institute. Thank you, gentlemen. Basically, as Congress Reconvenes here, the markets overall and impacts, is there opportunity for upside surprise or downside surprise . Well, dennis, good to be with you. I think that, you know, the rule of thumb is that markets hate uncertainty, and we have here multilayers of uncertainty, you know, obviously, the syria issue in the context of that, but in the background, but underneath that, you spoke you mentioned two of them in your preamble, which is that the fact that we have to figure out what the congress is going to do to Fund Government coming into this end of the this month, and, obviously, the conversation around the debt ceiling in the full, faith, and credit of the United States government and whether or not thats extended. I think both of those issues, while the markets probably dont believe that were going to default on the debt, i think, how we fund the government and how the conversation transpires over the course of the next several weeks will be telling and will probably provide some, you know, some less than comfortable moments for markets. Dennis christian, one ordinarily hopes in a time of possible military conflict that both parties come together. Instead, this is divided, not just the parties, but decided inside the parties all over the syria situation. You say in the notes that congressmen have a last chance to act like fiscal grownups in terms of the debt ceiling, and go ahead and explain that. Well, you know, the debt ceiling, really, what it is is Congress Actually paying for the policies that theyve already passed, so in that sense, congress to have a debate about whether or not to pay for what theyve already authorized is really silly, and we ought to have a clean, clean vote on the debt ceiling so that its not a distraction, not only for markets, but for Everything Else that we have on their plate. Dennis okay, so christian, once Congress Authorizes spending, they cant peel back and not spend it after all . They have to dam the tore torpes and spend ahead . Determine what you spend in the future, which is also upcoming now, dennis, but its irresponsible to have a debate about paying for things you already bought. You cant eat the fancy dinner and decide at the end when the bill comes, youre not going to pay it. Thats what the debt ceilings all about. Dennis okay. Congress gets that and dispose of it quickly to move to the bigger budget issues, to syria, Everything Else. Dennis that sounds similar to what i heard president obama say, and i wonder if you got the idea from him or he got the idea from you . Dylan, i thought the sequester and drastic spending cuts that were going to so devastate us would mean we have to argue about the debt ceiling extension far later. How come the sequester didnt put off that fight . Well one thing that was telling was when the treasury secretary actually came out and suggested or telegraphed receipts are off, and we have to move up the deadline with respect to when we have the conversation about the debt vealing just to chris earlier comment, but with respect to sequester, listen, when the its not the first choice, but the blunt instrument of fiscal restraint is coming to the vehicle of the sequester, the government didnt shut down, and people were not thrown out of the streets, and people are not starving and all the drastic things forecasted by some of my friends on the democratic side of the aisle didnt come to pass, and so we can live within our means if given the right incentive to do so. All right. The thing i dont like about the upcoming congressional session is all problems and all down sides, wheres room for a growth agenda and key steps we can take to kick start the economy . Thats what i worry about, den dennis. Looking at sequestering, argue about it, but whats clear is we dont have the growth that we need in order to deal with the countrys immediate fiscal challenges, and nowhere do we see theres room in the fall agenda for a real conversation about how to boost growth. Syria, you know, manufactured fights in the debt ceiling, the house, again, funding to defund obamacare, something that should have been stopped a time ago, those are issues on hand. Dennis thank you, both of you. Good day, gentlemen. Thank you, thank you. Thank you. Cheryl japan gets the olympics. Stocks celebrate the numbers, coming up. Dennis getting retirees off Corporate Health plans and on to health exchanges. This man is about to be the millionth customer. Would you mind if i go ahead of you . Instead we had someone go ahead of him and win fiy thousand dollars. Congratulations you are our one millionth customer. Nobody likes to miss out. Thats why ally treats all their customers the same. Whether youre the first or the millionth. If your bank doesnt think youre special anymore, u need an ally. Ally bank. Your money needs an ally. 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. Cheryl stocks around the world, up especially with the dow right now pushing session highs for 15,0489, the nikkei bouncing from winning the 2020 summer olympics beating out turkey, by the way, who many thought would win. Look at the market itself. The one year, its going to put things in context, i think, and look at what happened over the last year in the japanese market. Were not losing a decade anymore. Japan is on fire, and nikkei is gaining session highs. Lets bring in nicole from the floor of the New York Stock Exchange for more information about why, you know, investors are bullish today. Its a positive day. So far so good; right . Dow up 126 points, a close eye on apple now, cheryl, ahead of tomorrows big day, the invitation only event for apple, the iphone5c, the iphone 5s, and people talking about deals with china mobile which could expand things greatly for apple, and thats an understatement. You see the stocks up 1. 5 . Fdn securities and cowen talking positively. Fdn think it ships on december 20th and 5c will be a Great Success in china. Back to you. Cheryl nicole, thank you so much. See you at the bottom of the hour. Dennis Companies Holding down the cost of health insurance, time warner and ibm took steps to move retired workers off their Corporate Health plans entirely. Instead, both Companies Make direct Health Coverage payments to specialing thes for retirees, and who can then use the money to buy own coverage on private health care exchanges, and, cheryl, this could be the beginning of the end of retiree Health Coverage by companies. I remember years ago, Companies Went from definedded pension to instead 401 k manage it yourself, and now its happening with health and time warper and ibm. Cheryl ibm is vocal in just up front, because were going to triple for the retirees under the current line, and they couldnt afford it. They said we couldnt give the working employees we cant cover theming if we have cost tripling dennis for those not producing, even though they gave lives to the company. Cheryl i absolutely agree. You are going to see many companies, time warner, ibm, and 20 more in the next year doing the contact same exact same thing. Dennis once you have to use the money and invest in health care coverage, you make different decisions than when your employer did it for you. Cheryl they never address cost control. Entire twoyearlong debate. Anyway, many luxury homeowners want to buy a second one. We have the results of a new survey thats interesting. Dennis prime minister, David Cameron, not exactly james bond, the oops moment with his office explaning why Britains National security was not at risk. This ought to be interesting. First, see how the worlds currencies fare against the u. S. Dollar, and green arrows mean the dollar is weak. [ 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 borrow your boat this weekend . No. [ male announcer ] share more. Save more. At t mobile share for business. You will lose 3 sets of keys 4 cell phones 7 socks and 6 weeks of sleep but one thg you dont want to lose is any more teeth. If you wear a partial, you are almost twice as likely to lose your supporting teeth. New poligrip and polident for partials seal and protect helps minimize stress, which may damage supporting teeth, by stabilizing your partl. And clean and protect kills odorcausing bacteria. Care for your partial. Help protect your natural teeth. 23 minutes past the hour. This is your fox news minute. The british Prime Ministers Office says the offices security was not at risk when David Cameron left the famous red box out for public view on the train. The red box is a briefcase is a box used to carry around official papers. The Security Team was in place, and the box was not unattended. Retired nba star, north korea, confirms theres a new baby girl. Rodman says that he held kim gung uns baby in the visit to north korea. Hes organizing a basketball game between the u. S. And north korea teams training the north korean team for the olympics. A new van goegh painting discovered. The 1888 work is called sunset, and two years of research proved the work to be authentic. It will be on display beginning later this month in amsterdam. Those are your News Headlines on the fox business network. Im lauren green. Back to you. Cheryl that painting was in an attic for a couple years. They didnt realize it. How lucky. I need to search through my worthless art work. Lawn, thank you very much. Sure. Cheryl forget the stock market. Its about the home market. Here with one of the Largest Surveys of high end homeowners ever done is the ceo of homes and gardens, this surprised me, your findings, 75 of luxury homeowners believe Home Ownership is a sound investment more than the stock market . Interesting, isnt it, cheryl . Cheryl it is. It is. Yeah. Cheryl this is where they put their money. Its there because they see it as a long Term Investment, and a solid long Term Investment now that the price of housing is going up. You know, look at the average sale price now, its 214, 216, up significantly, 14 year over year, looking at the numbers. Cheryl the status, i have this investment, this stock, and 50 of luxury homeowners who are employed say that their home is the most important, you know, sign of success in their opinion. Exactly, and some of them are saying over 50 of them say they would like to own multiple luxury homes, and thats part of the whole lifestyle piece, of course. Cheryl they do that, its interesting, called high end friendship high end flipping, and getting financing is the tricky part. These are in the cash investors; correct . They have short term financing to do the flip; correct . Some have short term financing, but when we look at, you know, the industry overall, 31 of all homes sold now are still all cash, and flippers, i mean, face it, the bottom end of the market flipped out right now for lack of a better term. Cheryl foreclosures up. Yes. Now its the high end, and its easier in some instances to buy one luxury home that needs work, do the work to it, and then sell it. Cheryl the new guys as well, the builders, toll brothers. Toll brothers, actually, has higher demand for luxury homes. I mean, its higher, and weve seen that dichotomy because of the higher income earners that were buying luxury homes, and the lower was all investors. We figured that out now. Where is the middle class buyer . They are still in a wait and see mode because a large number of them are still underwater, and so they cant sell their home and move up, and so they are waiting for that to be able to happen. We see the bottom end very strong, and a lot of investors, and now we see the top end, owner occupied, luxury homes, and the flipping piece. Cheryl also, 66 said its more important to have a smart home than it is to have a green home. Its about the technology. All about technology. Cheryl what are they doing . Give me some examples. They want to turn the heat up using their ipad before they get home. They want to make sure the garage door is closed using their iphone or their ipad. Things like that are important, and so green is important, but not as important as technology. Cheryl smart is more important. Absolutely. Cheryl someone who has no ipad controlled apartment, its just darn fun. It is. Cheryl recommend it to anybody. Thank you very much. Thank you, cheryl. Dennis michael dell wins the faceoff with carl icahn, but the hard work begins to rebuild the Computer Company he founded. Cheryl forget wires with syria and the fed. We have the bull argument for the long term gain for the stock market. Speaking of stocks, the winners and losers over on the s p. Well be right back. Oh, apple, look at apple. Thank you orville and wilbur. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. Always go the extra mile. To treat my low testosterone, i did my research. My doctor and i went with axiron, the only underarm low t treatment. Axiron can restore t levels to normal in about 2 weeks in most men. Axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. Women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. Report these symptoms to your doctor. Tell your doctor about all medical conditions and meditions. Serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarg or painful breasts; problemsreathing while sleeping; and blood clots in the legs. Common side effects include skin redness or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting, and increase in psa. Ask your doctor about e only underarm low t treatment, axiron. Cheryl time for stocks now, annie coal on the floor of the new york city stock exchange, looking at the movers today, and facebook has to be one. Its one of them. First, whats going on into the s p 500 tomorrow after the closing bell. Well, its delta. Okay. Just look at the shares up there. Up 6. 7 . Right back there. Thats the closing bell tomorrow at in the s p 500, and the dnc is coming out, delta is jumping, Portfolio Managers have to buy it. Facebook near the alltie high, este, great today, af, they gave chicco buy, and blackberry with central takeover talk of 5. 5 doing well this september. Back to you. Cheryl did you just have a plane available at the desk . I dont know. They had the plane here. Thats their thing. Cheryl nice. Nicole, thank you very much. See you in a bit. Dennis stocks smacked for two weeks, but the dow up triple digits today, and investors have to stick with the stocks for the long haul says a chief investment strategist who is joining us now. Mark, how are you bullish on stocks after the lukewarm jobs report friday . Well, it was lukewarm, but the fact is that its been building on momentum in the labor market here, and three years, we had 35 consecutive months of job gains, certainly, the pace of job growth is underrealming in the quality of the jobs created is a bit questionable, but nonetheless, we continue to believe that were seeing a proven labor market by way of initial employment claims continuing to fall and recent pmi service says they both manufacture and nonmanufacturing businesses are actually expanding their hiring plans. Dennis talk taper fears. Wall street, its nickers in a twist because of the 16 or 17 trillion u. S. Economy, the fed might trim bond purchases by 20 billion a month. You think the fed will taper, but stocks wont care this month, theyll tape l . We are think likely theyll announce beginning of tapering regime that occurs probably in the month of october, arguably, may be taper light in the context of perhaps seeing reduction of 1015 billion as opposed to what many expected on the order of 20 billion. We also, though, think, though, that tapering process will be accompanied by very doveish commentary with regard to the threshold at which time they are considered changing the fed funds rate, pushing it further out until 2015, maybe earlier, 20 16. Disrupted in the stocks . Possibly. You think at this point largely its discounted in the market place. I think, though, the actual announcement could be offputting, and as a consequence, bond yields move up and could cause turbulence in the equity markets, but i think its short lived. Dennis okay. And, though, theres signs the u. S. Economy is better, you like stocks in three other rather battered regions. Tell us about those . Most definitely. One, of course, is europe. Weve been an advocate of eurobased equities over the course of the last 12 months, and, obviously, weir seeing some foot prints now of Economic Growth for the first time in six quarters in europe, a positive gdp print that, of course, again, pmi readings are positive across the euroarea and across most countries within the euro area. That bodes well for european earnings. Japan is another market. We know whats going on there in terms of the expansion of the monetary policy, and we continue to believe that thats a good news story, and last, but not least, china, really, why the equity markets are doing well today is the fact their exports rose better than expected and theres pos sieve surprises economically from china over 30 days and chinese equities are very cheap on acquisition basis. Dennis the china bubble burst is over, babe. If you buy in the u. S. , look at financials and techs. Thank you. Correct. Thank you. Cheryl you probably noticed pain at the pump, gas prices on the rise as syria worries boost oil. Sandra smith is standing by in the new york studio, by the way, with todays tread. Nice to be back, and gas prices may not be notable were up a penny from a month ago, sitting at 3. 57, a retail price for a gallon of gasoline, what youre paying as a National Average right now. Whats notable is that usually we would be much lower after we end the summer driving season, after labor day, that number falls off. Not the case. Mr. Lundberg says its because the oil prices are climbing. Oil down today, but look at the onemonth chart, guys, a month ago, we got oil prices around a hundred dollars a barrel, back at 110 a barrel. Again, down a little today as some of the fears over syria are limited. Theres, obviously, a lot of speculation well see a limited strike, if any over there. Some of the fear premium coming from the market, and naturally, the wholesale gasoline prices come down today too down, but more than a full percent, but guess what, guys, he said from the survey that while Higher Oil Prices render higher gas prices, he said theres going to be a ramping up of production of the thats going to, obviously, help bring prices down later on, and its going to be a good thing for energy stocks, so on a Day Oil Prices and gas prices are down, look whats happening to the energy sector. Green arrows across the board. Dennis, cheryl, as you know, oil prices, that high, tends to increase Profit Margins for the big refineries, and other oilrelated stocks. Thats certainly playing out in todays stock playing session. Back to you. Cheryl thank you very much. Good to have you back. Thank you. It is the fox business allstar show down. We are at the Halfway Point for gym and Oliver Porsche and lesser known named like air seal products, exco resources, and oliver going big with apple and credit card giant visa in hopes of advancing to the finals. Both competitors took hits with the markets over the past week, and right now, the race is neckandneck. Who clenches the win in the end . Watch the fox business allstar show down picking up this friday. Dennis carl icahn losing end of the battle with michael dell, the tech guru ahead on challenges facing dell and the industry. Cheryl plus, why your favorite chocolate could cost you more. Phil flynn live at the cme watching cocoa prices. Maybe we can make money on that as well. As we break, take a look at the 10year treasury. Well be right back. This is your fox business brief. Neiman has new ownership. The luxury retailer sold to a team of management in the canadian pension Plan Investment board for 6 billion. The group operates 79 Stores Including 41neiman stores, two locations, and 36 last call outlet stores. Coke industries, by the way, run by charles and david, is buying molex, maker of Electronics Components for 7. 2 billion in cash. Google is offering to make additional concessions to European Union regulators to settle an e. U. Antitrust probe to avoid a possible multibillion dollar fine. Now, the e. U. Has been investigating since 2010. Allegations google blocked competitors and gave tough failing web searches its own products like google maps. Thats the latest from the fox business network. 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 . Dennis michael dell coming out on top. Carl icahn called off the challenge to stop dell from taking the name sake Computer Company private, and joining me to discuss is dan lions. Marketing fellow at hub spot, thank you, dan. Cheryl pointed out to me that it looks like icahn himself made 70 million on profit on dell in the sixmonth flirtation. Icahn may have won by getting defeated because dells problems are just beginning . Tell us. Well, i think dell is the modern day equivalent of what modern equipment general was, data general, Big Companies in the computer era that did not adapt to the pc. Dell did the same, a big company in the p cer ray, but this is post p cer ray. They have not done anything in mobile. Thats where the action is. Theres a tough road ahead. Dennis why do you think dell felt the main limiting factor was public instead of being private . What are the things michael dell could do as a private company to help fix this firm that he couldnt have done as a publicly held company . Any ideas . Well, it may be they look at things like, you know, they dont want the short term pressure of making a quarter every quarter, having street watch what he does, but, honestly, i think the real problems faced are bigger than whether youre public or private, and hugely company problems, and they have an opportunity, oddly, enough, in the cloud, in the enterprise, there is actually a big market there, and dell may be, by going private, going dark, could really radically reinvent itself in that way. Dennis almost an ibm. Is dell better off getting bought by hp or ibm . I think thats going to happen, just like deck was bought by compaq. This is really off the wall, but, you know, when you see nokia, you can imagine microsoft buying dell, and the next big race in the cloud in the enterprise is building out giant data centers around the world and Sell Services off them. Maybe dell has a role to play there. You know, just building hardware. Dennis think about buying blackberry, just put itself up for sale, very strong, corporate enterprise accounts, to give them stake in the smart phone area, and you bet on one of the dying dogs, i guess, and, you know, is a company that came out, i mean, dell pioneered 18 00order a computer over the phone, and remember how amazing it was . It was the worldwide web, buy computers at amazon; right . You are run out, and good with computers, laptops, the smart phone, and does the company have to throw out the old business, should have gone to the smart phone business . I feel thats not what dell does. Well, thats what people said, thats not what apple does, either. Remember, in 2007, blackberry, the others scoffed saying the Computer Company making a phone, thars crazy. They dont understand the business. I remember working for you at forbes and writing cover stories about dell back when they were riding highings but their advantages were temporary. They had an amazing efficient supply chain. Innovations were not about the pc itself, but about how to make pcs. Thats where real innovation took place, and that was wiped out with china, and they lost that step they had. Yeah, they were a phenomenal company in the late 9 os into the early 2000s, riding high. Dennis made hundreds or thousands of socalled dellionaires. Hes a hero of capitalism, and i wish him well. It is. Same here. Dennis nice job. Thanks, dennis. Cheryl stocks now, back to the floor of the New York Stock Exchange, and, keith, were higher today, but the question is what happens this week . Were backing off the session highs right now. What you seeing there first in yeah, exactly, thats always the question, cheryl. We really got dynamic things coming at us in the next couple weeks, Economic Data will be slack this week, but that heats up later in the week with ppi numbers, jobless claims there, and then, of course, next week is the big one with the fomc announcement on interest rates, but the syria thing, while its fairly muted today, its still lurking in the background, and tell you what syria is doing is not from scaring the market, but its also backing up agenda on the fiscal calendar inside of washington. Some things may not be resolved in the timing, end of september, so expect markets to be 00y jerky going forward. What do you mean, things resolved sooner rather than later . Sure. The debt ceiling debate coming down the pike, and they need to get a resolution, continuing resolution, as it may be, by the end of september, and thats going to leave the marketses in a little of a state of flux here going forward. This week, i think, will be a little more calm, and the bullish sentiment in the market place has not gone away, trading down the 1630 level in the s p end of august. We think we move higher here, but expect choppy waters ahead, syria, the fiscal debate, all that adds to this. Thank you for the commentary. Appreciate it. My pleasure. Dennis drought fears here and abroad boost prices for corn to cocoa. The trading pits of the cme, and phil flynn, cocoa prices on the rise; is that right, phil . Oh, they have been, up over 19 since september started, and they also have the Money Managers with the biggest net longs in the cocoa market in over a year. A lot of more money pulling into the market right now. Theres a possibility that when we do all the cocoa versus the demand expectation, were going to be about 18,000 tons short right now. Now, we pulled wac back because the markets overbought, but look at the beans today. The beans, of course, got a little of rain. That is a good thing because 50 of the u. S. Soybean crop got no rain in the month of august. Now, rains over the weekend, they hope that slows the deterioration of the yields out in the midwest, but it may be too little too late, but beans are taking a drop. The corn crop right now, thats pretty much made. Whether you look at the soybean market to get the market any type of support, but they are going to be watching these crop conditions very carefully, a very good forecaster lowered the yields forecast to 42. 4 bushels per acre for beans, the downward bullet. Watch beans, could be an explosive market. Dennis thank you very much, phil flynn. Thank you. Cheryl time for the west coast minute, business meetings, los angeles is somewhat unpopular. According to steve bent, the nations Largest Convention firm, business travelers would whether go to san diego, san fransisco, and Las Las Vegas tho l. A. The citys Tourism Office says that changes when the lax expansion is complete and Downtown Hotel and resort properties are finished. A lake tahoe resort owned by Frank Sinatra will get a multimillion dollar overhaul. Its located on the californianevada border hosting the rat pack buddies, and the resort is scheduled to reopen december 12th, 2014. That would have been all blue eyes 99th birthday. Season entertainment, almost done. Building the largest ferris wheel in the world located across the street from the caesars palace. The 55story high roller ride will likely open early next year. Its going to be a hundred feet taller than the london eye, putting it in the record books. The largest ride so far is, of course; the london eye. Look at caesars right now. The stock riding high at 2370. Thats your west coast minute. Dennis built it up, i thought they build flat and lift up. Cheryl ready to ride . Dennis oh, yeah. Cheryl good. Dennis i, this s instar gram takes on twitter with advertising. Will it look . Cheryl as we break, you saw the s p, apple, apple is a big winner today, 506. 7 a. Well be right back. E e i Dennis Instagram advertising in the next year. Facebook bought the photo sharing service for a billion dollars a year ago, an insane price because they had no revenue at all. Its looking less crazy now. Since that deal, they expanded fivefold to 150 million monthly carl active users, rapidly gaining on twitter, thats 200 million, but reports are, meanwhile, facebook is delaying plans to introduce video ads on its site. Theres a new buy recommendation on facebook, 44. I bought if at 18. Myley twirks and gets yanked. Her raunchy performance just cost her the cover at vowing magazine. Daily mail reports that the editor of vogue may famous already had her photographed for the december cover naming her a new fashion high con, but when the 63yearold fashion magazine saw the tongue wagging 20yearold cringeworthy cavorting, they decided not so much. This just in, guys, miley hosts saturday night live in a few weeks. Theres that, cheryl. Cheryl there you go. The nfl season kicking off this weekend, and at the end of the road, the first cold weather super bowl in new jersey, the nfl announces grammy winner, bruno mars, braves the elements for the halftime show in february and over 110 Million People watched the show last year, that was beyonce. Well see if he brings in the viewers. Dennis risk of a hair malfunction. Secretary of state kerry opening the door for syria to avoid attack saying syria needs to turn over all chemicalapons. Cheryl the latest on syria from a man who has been there before, former Senior Member of president george w. Bushs staff, brad blackman, is sitting down with adam and lori coming up next. Adam president obama and his team sharpening a syria pitch as Congress Prepares to vote. As assad is threatening repercussions if the u. S. Launches a strike. Lori this hour come inside with a man has been through this before. Brad blakeman joins us. Adam putting off paper and following the jobs report. Chief economist on why he says forget a september taper. Lori carl icahn admits defeat after a monthlong battle. Why he is giving up on a deal to sell now. Adam when you see celebrities, you dont necessarily think bulk celebrity makeup. Our guest on her efforts to go glam at costco. No onion bagels involved. Lori you just outed what i had for breakfast this morning. It is your problem more than anyone elses. On a serious note, lets go to market and Nicole Petallides on the floor of the new york stock