tv Markets Now FOX Business September 12, 2012 11:00am-1:00pm EDT
connell: and i am connell mcshane. >> make no mistake, we will work with the libyan government to bring justice to the killers who attacked our people. dagen: kt mcfarland is here to weigh in. day three of the teachers on strike in chicago, still no school for more than 300,000 kids. entitlement problems plaguing this nation. connell: and we're waiting on the new iphone. apple set to make the announcement in a couple of hours from now. dagen: and the drought ravaged midwest. a better picture of the damage done with today's crop report. top of the hour, stocks down every 15 minutes. nicole petallides on the floor of the new york stock exchange. nicole: today is the day we look at the dow jones gusto average of 2022 points right now, but the dow has hit multiyear highs once again as has the s&p 500.
dating back to 2007, 2008 levels for these two major averages. the nasdaq higher as well. anticipation of the apple iphone. and the fear index to the downside, some names helping the doll along, caterpillar, jpmorgan. up arrows along the board, but again one-tenth of 1%. back to you. dagen: thank you, nicole. connell: president obama addressing the attacks on the u.s. consulate in libya. dagen: the very latest with a wrapup of everything we have heard just this morning. >> president obama condemning the attacks in the strongest terms working with the government to secure other diplomats in the country and its working without government to make sure they find these attackers. >> there is absolutely no justification for this type of
violence. none. the world must stand together to unequivocally reject these acts. >> governor mitt romney spoke before president obama offering his condolences and his combination of these events and went on to criticize the white house handling of all of this. >> they clearly sent mixed messages to the world in a statement that came from the administration at the embassy is the administration, the statement was a statement which is akin to a policy and was a severe miscalculation. >> president obama's heading with hillary clinton to the state department to meet with employees there. a senior official tells fox the president scheduled for a trip out west is still up in the air. they're still working on scheduling for the rest of the day. the president says we will find
justice in all of this. back to you. connell: thank you. dagen: for more, let's bring in kt mcfarland. fox news contributor. connell: one of the statements, we just mentioned at the top of the show, justice being done, that is what the president just talked about. how do we define that as we look at this crisis? speak of the united state unites attacked september 11, 11 years ago, and united states attacked september 11 yesterday. what does that mean? the united states territories, the embassy, it was egypt and libya. were they coordinated attacks? when the president came out, as you rightly did, he should have followed that by saying these attacks are not going to be tolerated, we will hold the host governments responsible for this.
some indication even in egypt there was advanced warning these attacks are coming which is why the americans had gotten out of that embassy. the president of the united states needs to say to those countries who will hold you responsible, have to protect our people, you have to have better protection of our people and if you don't do that we will reassess our relationship with you because if you don't stand strong right now, this is what happened to jimmy carter and why ronald reagan was elected. jimmy carter did not do something strong. he apologized, said let's try to negotiate and that is the kind of response i heard from president obama. dagen: did we have a better sense of who our enemies were? there is the government and the armed groups and the brigade, libyan government have any control? >> if they don't, they should.
we just liberated that country, lots of people running around libya with military equipment. the fact the libyan people didn't know in advance and did not stop it, why not? dagen: following up in egypt with the muslim brotherhood, is it going to diminish the death in libya and the three others? >> they are all tragic. they did not condemn these attacks, did not warn the united states. he should have been standing in front of the united states embassy. we give these people billions of dollars, helped put these people back in power.
this is an act of war. connell: i will sum it all up and where do you think we should actually do? >> the president of the united states so you are being held responsible, responsible for the protection of americans. if you knew about it and didn't stand in the way or didn't know about it, we're going to hold you responsible. if you cannot protect our people, we will pull our people out and stop writing all those checks. dagen: before we go, the heightened tensions between the white house and israel. add that into what happened in egypt and libya, what are we facing? >> the president of the united states having snubbed israel told israel you are on
your own in dealing with a nuclear iran. maybe we need some sort of a preemptive attack. it was badly handled, and he helped lead by pulling the rug out from underneath the countries is turning into the arab entity. connell: the egyptian president has asked the egyptian embassy in washington to take legal action in the united states against the makers of this film that attacks the prophet mohammed and the religion, angered some of these. >> this is like some home video some 12 people have watched on the internet. if that is the excuse they are using, it is because of all that, i think we should have a pretty fast phone conversation with him.
dagen: is that all it will take? >> we're propping those countries up financially. dagen: we certainly are. thank you so much, kt mcfarland. look at how oil relates to all this. up earlier in the morning, right now it is essentially flat, but down $0.09 per barrel. what to make in all of this and if it is headed higher from here. president of rg brokerage. why are we not seeing a move up in oil as we did earlier today. >> with the exception of this news bringing a little bit more risk premium into the market, the market really fundamentally has no reason to go much higher right now. keep in mind the market has a tremendous resistance around $98 level. the inventory levels do not reflect the fact he had any reason for the market to go much higher. this market has behaved
amazingly well in the last week or two. the market is settled back here, catching its breath. the news i don't think will be a factor. looking for more technical factors to see how we go from here. dagen: them up with dealing with iran and the rising tensions in the united states, at what point would that be a factor? >> and we have any disruption in the delivery system, any more of an embargo on the product, other than that inventory issues have not come into play, and market moving along normally, the functionality is just fine, and we have to go again on the technicals and anything that comes into play every week looking at the inventory figures. dagen: thank you so much.
connell: we have other big stories to cover today. also from technology, the new iphone should be on the way in a couple of hours from apple. the very latest from that apple event in california. dagen: scorched in the midwest, the latest damage done to those crops in today's crop report. so... [ gasps ]
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connell: the other big story, the new iphone. we're waiting for it now. we will get it in under two hours. joining us now, in this apple event in san francisco. we have been talking about it forever, i guess we will get it, give us a preview of what you are expecting for what apple will unveil. >> what we know about the phone is the fact it will have a larger display, 4-inch display, will be their first lte phone. there is a rumor for other devices coming to market.
rumors are running rampant. connell: that is how appleevents happen. will there be one more thing in the end and all that kind of thing? let me ask a couple of other things. let me ask about demand for the iphone. seems to me anecdotally a decent amount of people waited, i will not upgrade until number five comes out. i will wait for the iphone 5, it is different, looks different, is that what the analysis shows? >> yeah. a number of people thought the iphone for rest were very disappointed. they were very disappointed and wanted to wait. connell: look at the mid-400 for
the stock, one thing he mentioned is that you have so much excitement that maybe there is a sale on the news portion of this, or does apple kind of surprised us with something in addition to the iphone. >> time to refresh the ipod, so they can certainly do that. and they can tease apple tv. but we have heard they don't have the programming cocoa nut, so it seems unlikely. connell: is that enough to keep investors happy if it is just the iphone with new features to talk about and people excited about that, but a lot of that inundated ed is that enough? give us more. >> it really happens with the carriers. really bad coverage and really high prices, there is a risk getting through the initial wave of buyers the sales will drop
off dramatically because people won't pay the rate, this is a carrier problem having a lot of us worried in the first quarter, clearly investors look strategically, so fourth-quarter sales will be very strong but we are really worried about the first quarter. connell: who will monitor all of this when the announcement takes place. thank you very much. >> a pleasure. dagen: that lte coverage is terrible. connell: lot of people thought that last time, doesn't look much different, i will wait for the five. dagen: a lot more to cover today. our top story is the killing of americans investor.
morgan attacks in libya and egypt coming up. connell: and the fallout in the drought in the midwest and what it has done to the food supply around the country. all that coverage for you on "markets now." a look at one of the markets we are following, world currencies and how they are shaping up against the dollar. [ male announcer ] if you believe the mayan calendar, on december 21st polar shifts will reverse the earth's gravitational pull and hurtle us all into space. which would render retirement planning unnecessary. but say the sun rises on december 22nd, and you still need to retire. td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600
connell: house speaker john boehner in the top of the capitol building flying half-staff in the respons respoe attack the middle east. dagen: the attack that killed u.s. ambassador stevenson three others. connell: standing by in london with the latest. >> as the day progresses we're getting more and more information of the tragic events in libya. we know it was the u.s. ambassador to libya, his name was chris stevens. also involved, u.s. management officer shawn smith and two other americans were killed and we believe it could be secured. at or around the u.s. consulate,
the city on the eastern side of libya. the secretary of state clinton described them as being committed to american values and interests. the conflict hit by rockets, u.s. and libyan forces responded. also hit a vehicle in which we think investors and others were trying to sleep. libyan officials have apologiz apologized, said they're looking for who is responsible. one group being checked is a group with allegiances to a qaeda. u.s. is investigating and says justice will be done, marines are on the way. this follows a riot and an assault yesterday at the embassy
in cairo, egypt. but testers said they are angry a film in the united states critical of the prophet mohammed getting a lot of play on the internet that could have played a role in the attack as well. they say they are doing fine, but more security and more security throughout the region as tensions are heightened. connell: with growing tension in the middle east could be taking the spotlight away from a financial stories we would ordinarily be talking a lot about today. whether it be europe and the german court ruling or the federal reserve will do, the chief economist. getting pushed out of the headlines, what does that mean? does it make anything that is happening less important? or what is your view? >> the european situation still
the biggest economic threat that is out there to the u.s. and the rest of the world. the situation in libya is clearly worrisome. not in terms of what happened, very tragic event and obviously there has to be a response but the worry is if we don't play our cards right, this could lead to further instability in libya are jusjust coming out of a very difficult to tuition. it could threaten oil supplies from libya increasing recently in helping to keep prices down. it is a very volatile situation, we just have to walk a fine line. this kind of event is unconscionable. but we have a bigger picture to worry about, the global supply. connell: we're looking at oil right now relatively stable. the stocks are up slightly, you can argue bab maybe a more idylc this with the european spending money like crazy.
so far relatively stable. from the point of view of the economy, have to start thinking about this more than we are? what are the risks? >> we have to be thinking about this region. that is the direct link back to the u.s. any instability in the middle east and north africa has big ramifications for oil prices and for gasoline prices in the u.s. and of course the economy. just because we toppled the dictator does not mean we have a stable situation, unfortunately. connell: the money printing continues. >> we fully anticipate tomorrow the fed will announce qe3, the next round of bond purchases, the idea being essentially put a floor on the u.s. growth to prevent the outlook from deteriorating.
connell: thank you, sir. dagen: we heard from the president, his reaction to the terrible attacks in libya and in cairo, egypt, today that claimed four lives in libya. including our ambassador to that country. connell: u.s. john holden in the u.s. earlier this year will join us to get his reaction coming up next. let's look at the market. here is a look at the s&p 500. [ male announcer ] it's simple physics...
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for a body in motion. connell: markets now at the bottom of the hour. nicole is back talking mark zuckerberg and facebook. nicole: that is right, looking closely at facebook. facebook higher today, on most $21, has not been at those levels since the middle of august, selling off. mark zuckerberg came out yesterday to talk about the fact he did not like the fact the stock had diminished. though it was time to double down. still expressing his belief in facebook giving it a nice boost today. look at the dow jones industrial
average, hit hitting new multir highs, highest levels since december 2007. so far so good, back to you. dagen: the handling of the tensions the middle east, and also challenger mitt romney. good to see you on this horrific day for america. how does this shape the rest of the election season and how do both of these candidates take this on, how do we change what we thought was the central issue for this country? >> foreign policy becomes a major part of the presidential election as we move into less than 60 days before the national election. i believe this attack is not about the video as it is about the anniversary, the 11th anniversary of 9/11. those who seek to do us harm no
anniversaries are important and remind us all they're still around and their intentions are the same they were 11 years ago. i believe this attack and a is r reminder to the american people that the middle east is a dangerous place. i believe we are in a meltdown in places like lebanon and syria and egypt and now libya. the disrespect this president has shown to israel emboldened our enemies and it is important romney speaks to those issues. we are at a critical juncture, it is important for americans to hear from the oppositions, romney seeks to unseat obama. dagen: was it wise for him, he spoke to for the president spoke this morning, was that smart? >> yes, condemn the kind of actions and apologies for the
first response in these attacks. a system of government that respects freedom of speech. this was a citizen who did this youtube video. just a poor excuse for intact but with land long before this video came to be. dagen: mcdonagh continued to stand by his condemnation because the embassy put out a statement very early on essentially apologizing for this anti-muslim film and he came out and condemned and said it was disgraceful the obama administration's first response wasn't to condemn the attacks on a diplomatic mission. he was sticking by that still this morning even after we found out the investor in libya and three others had been killed. >> as he should, the initial response of the united states should have been overwhelming and sure.
there is no excuse for killing our ambassador and three others, no excuse for overrunning our embassy in egypt but the fact the president seems to chosen he chosen sides early in his presidency distancing himself with israel has been one policy that has come back to haunt us in very tragic ways. speak up now, the fact he preempted the president responds if anything shows the resulting leadership and the difference in policy. dagen: the fact mitt romney knows him from the time he worked the boston consulting group going back to the very early days of both of their careers, to what extent does that help mitt romney, does he need to keep his distance if this plays out on the foreign
policy stage between the u.s. still led by president obama and israel. >> if anything it helps, he is a personal relationship in a business relationship is a huge plus. they know each other and they respect each other and they like each other. he is not certainly going to take sides in this election, but the presidents actions just as recent as yesterday where he said he wanted to meet with the president during the general assembly in washington or new york and they rejected that. the fact tha the democrats had n their platform prior to this year jerusalem would be the capital of israel and they took it out only to put it back in. shows there is a distant sea of this administration from israel who should be our conscious ally. connell: more perspective with all of this on the top story of
the day storming the conflict and telling the investor. we have the republican out of north dakota joining us in the past java foreign policy and a visit in this region to the world earlier in the year. the president in the last hour has talked about the fact that justice will be done. we're trying to get the definition of what justice will be, what do you think? >> we have to work with the libyan government to make sure the perpetrators are brought to justice. this is an outrageous attack, we have to condemn it in the strongest terms. working with the libyan government to make sure we find who committed the terrible crimes, killed our people, our ambassador and that justice is done.
connell: you made a good point, kt mcfarland is a foreign-policy alice and former government official on with us earlier this hour advocated: not the government in libya or egypt and said you have to do a better job protecting our people in these embassies. was that he is going with more diplomacy. >> information they are protecting our embassies in working with us you have to expect better securities from them. at the same time have to do more to secure our embassies. we have to require that they will work with us to root out this extremism. connell: what is the next depth? hoping to secure to calm the tensions around that embassy around the world?
what is the next tangible step that is appropriate after that? >> the first step is having the marines there to secure our embassy and our people. at the same time that our military and security forces will work with the libyan government to find out who did this and bring them to justice, that is very important. connell: what would you say about how they handled it this morning? comments in response to all of us on both sides. >> this is about all of us as americans making sure we protect our people at home and abroad. the anniversary of 9/11, we recognize there is still a lot of extremists and we have to work with these other government to root out for our security and for theirs.
i truly believe that is what governor romney was talking about. we have to take that promote leadership. connell: thank you. >> thank you. dagen: focused so clearly overseas but we want to take you to the valley, liz claman from the intel developers forum with one of the executives focused squarely on the future. connell: and then there is the drought of 2012. jeff flock at the cme with that. >> the big story would be oil, but we have not seen that. one is booming, one is crashing, i will tell you which is which when we come back.
i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> i am lori rothman with the fox business brief. clearing the way for countries to participate in the european rescue fund. one condition, if the liability
is greater than $245 billion. germany is the last of the block to ratify the fund. one of bernie madoff employees will receive criminal charges according to the "wall street journal" citing the justice department. former employee is pleading guilty to 13 charges tomorrow. his son pled guilty last year. chesapeake energy selling $6.9 billion worth of assets to three companies. using part of the money to repay the loans. that is the latest look at business from the fox business network giving you the power to prosper.
as always, quarter till the hour, stocks now every 15 minutes and we go down to the floor of the new york stock exchange. nicole has what is moving now. nicole: we're looking at some real movers, over the morning about germany now being onboard, leaving the euro zone, with that the euro moving to new highs. the national bank of greece is a great indicator of that. 16% chesapeake energy selling off assets down right now. the leader in the s&p 500 after an upgrade at deutsche bank talking about their trend, apple awaiting the iphone 5 is up right now. and zynga on good news, facebook moving up as well right now about 3%. look at the broader market averages for you. up 32 points. the tech heavy nasdaq up about a
quarter of a percent right now. major market averages with up arrows as well. connell: thanks. dagen: intel developer forum, they have some of the best in the business. best ideas. connell: fifth annual exclusive three days in the valley, liz claman with the company putting the silicon in silicon valley. >> dagen and connell, that would be intel. 1868 they started it all with their semiconductor equipment maker. the first time we followed intel through silicon valley and 5000 people will descend. how to move the chess pieces around throughout to win this game. fox business has the entire landscape covered completely
with apple and robert gray down there. how intel has been about identifying the next thing of the future and building technology around it. what a title. what do you need to have on your resume to be the futures? >> you need a vision for the future and be able to build it. i look 10 to 15 years out and figure out what wil it will feel like to be human so we can build the chips and the devices people will love. >> what do you see? that is an extended way out, 10 to 15 years. >> as we continue to follow, soon we can turn anything into a computer.
we can turn my shirt and a computer, that desk into a computer, anything into the computer so we don't have to ask can we do it, we ask ourselves what do we want to do with it. >> how do you do your job? >> is a mix of research going out all over the world talking to people. and we go out and talk to people all over the world. 60, 70% of my time talking to people. i say what kind of a future do you want and what do you want to avoid? we have to have that, but one of the most interesting things is several years ago. what will the future be, there was this massive hollywood, bali
would be useful. massive 24 cameras all going to ask the director what is the future of entertainment. he pointed at a laptop, pointed at a smart phone and pointed at a very new tablet and said that is where entertainment will live. >> brian johnson on how he does what he does at the futures. all day long we are live here at the intel developer's conference to look at what they're going to announce. there is a special chip. wait until you see what this does coming up. that is the whole heart of three days in the valley for the next hour. worked at electronic arts, now has a company, if you download a movie under ipad and cannot get it to your smart phone, and app will dump it all into one place so you can access it with all of
your devices. 3:00 p.m. eastern, fox business exclusive with the intel ceo and president on the future, and i will hit him with hard questions. downgrading the estimates for the third quarter. what are they doing to catch up and beat everybody else. back to you guys in the next hour. connell: thank you very much. dagen: the agricultural department cutting the soy and bean products. >> some do not believe these trucks. corn is the big loser, being as the winner. escoto corn. down about $0.12. here are the details. 12 billion bushels is the projected harvest. the lowest production since
2006. getting an early harvest. this is surprising, this is better than you thought. >> much better than we thought. we think it will be a little bit underneath that. around 10.5, disappointing. >> beans are booming today. i want to take the numbers out on this one. 2.63 billion bushels per harvest. worse than expected. >> the beans have kept us up at night through all of us. they did not fail to disappoint. >> looking right there. interesting news. can you imagine it? connell: imagine that. dagen: jersey usually has lower gas prices than the surrounding
high because they are protested the high price. they do not want people to buy as they are. bold choice. dagen: they pay five cents more a gallon than other dealers. connell: day three of the teachers strike out in chicago. dagen: steve brown has a very latest from chicago. reporter: describing progress at the negotiation table being millimeters and the difference between the two sides being kilometers. this is day three of the strike. it does not have any sign of letting up anytime soon. we are outside of the school headquarters. all of the bigwigs all have offices here.
it does not look like there will be much movement. there are negotiations today. there have been offers back and forth. the amount of progress is slow. no room for 250,000 as long as the strike goes on. back to you speak. steve brown with their in the streets of chicago. dagen: we will continue the coverage of the fallout of the killings in libya. connell: tim clark will be on with cheryl casone. all that and more on markets now straightahead. ♪ want to try to crack it? yeah, that's the way to do it!
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marine fast teams to libya after killing our ambassador and three others. >> we will see that justice is done. make no mistake, justice will be done. cheryl: i go one on one with how this is affecting an airline operations in the middle east. dennis: will present obama go far enough? cheryl: it is the top of the hour. stocks now every 15 minutes. nicole: of course, we have our leading story, the latest going on in libya. that is something that hovers over the markets. we have seen the euro gain some strength. that is helping things along here. the dow and s&p have hit new multiyear highs. they spoke now as mark
zuckerberg said some new strength to the stock. he is happy about growth in mobile. back to you. dennis: thank you, nicole. president obama condemning the killing of the u.s. ambassador and three others in an attack in benghazi. some are saying he is not going far enough. rich had sent is live. >> white house officials say he wanted to show his solidarity around the world. he promised to pursue these attackers. >> united state condemns in the strongest terms this outrageous attack. i have directed my administration to increase our
security at diplomatic posts around the world. make no mistake, we will work with the libyan government to bring to justice the killers who attacked our people. >> governor mitt romney charges the white house with delivering next messages. this anti-islamic cited this entire thing is supposed to condemning the attacks. the white house say they never cleared that. romney is still criticizing the white house. >> the attacks of libya and egypt underscore that the world remains a dangerous place and that american leadership is still needed. in the face of this violent, america cannot shrink for the responsibility to lead. >> the president was supposed to head out west today. those plans according to officials are still up in the
air. back to you. dennis: thank you. cheryl: businesses located in the middle east and africa are coping after all of this. i spoke with tim clark from dulles airport. >> not to my knowledge there has been no reaction whatsoever in terms of the flight in and out of the region. business as usual. cheryl: and a lot of times when they have events like this, do you find it is difficult because the geography is a little different. do you find that the perception of the airline is difficult? >> no. it is a truly international brand. it is an international carrier. i think our passengers recognize
the politics of the author and the network they travel on is a truly global one. yes, we do travel to many places in the middle east and do so even in the troubled times. cheryl: obviously, you and chairman of the airline have to address the event will we do have things disruptive in that region. because dubai, which is your hub, do you find that the two of you have to address the issue over and over to make sure that global passengers are safe. does that ever come up between the two of you? >> no. let me be quite clear about this. dubai is a truly international city on any scale. we have a very large population there. one of the largest and fastest
growing airline hubs in the world. today, i think last month, actually, dubai recorded over five again passengers passed to the airport in july. the same scale as the european and some of the american hubs. definitely no question that this airport will continue to grow. dubai will continue to attract people from all walks of life and it is a thriving city. there are difficult times, we cannot ignore that, but we try to do our best in the city continues to grow as it has in the past. if this is incredible challenges. it is a real success story. cheryl: do not miss part two of my story with tim clark.
that is coming up. dennis: oil in the fluxes given the turmoil overseas. phil flynn standing by the cme. >> considering the fact of the world going crazy, oil is hanging in there pretty well. we had a surprise and oil inventory. that is a 4.5 again swing versus that swing. oil imports from canada, believe it or not, help offset the losses in the gulf. that is why oil prices are under pressure despite this crazy world we live in. cheryl: charlie brady was right this morning. he called it about 7:00 a.m., i don't think we will see a big jump in oil today. john bolton is the head and what
the u.s. needs to do right now. dennis: plus, we are less than an hour away from the unveiling of the iphone five. can it possibly live up to all that hype? mark madsen on how you can play the latest news out of europe, cheryl. cheryl: first, let's take a look at metals. ♪ [ male announcer ] let's say you need to take care of legal matters.
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cheryl: markets have had their eyes on several things today. the middle east, germany's high court ruling and the fed meeting which gets underway today. mark matson is here now. >> yes. what happened last night was absolutely tragic. it is time to mourn as a nation. as a time as an investor, it is never time to panic.
the market has seen a lot of tragedy and chaos in the mid east. at the same time, u.s. small cap value stocks are up 180% and small stocks are up 170% during the same time. today is a good example. asia is up 1% today, even with the same news. america is up. do not panic. keep your eye out 20 years from now. we pray that our government response appropriately. do not panic. cheryl: last time you are on the show, you said something that surprised me. you had of your allocation to a merging markets but about 3%. i about fell off my chair. when you have new events like this, doesn't give you pause to think that maybe allocation is a little too aggressive at this point?
>> we have had that allocation for the past 15 years. the key point to make is this, owning international equities do not increase risk. that is a common perception that wall street wants people to believe. it actually reduces risk and then when markets do crash and you have to rebalance. hard for investors to do. cheryl: what about the fed? they will be doing something tomorrow, we do not know what. how are you feeling about that? >> i tell you what, cheryl, i am fed up with the fed, bottom line. they will try to increase the monetary base. the reason is because nobody wants to borrow. companies are sending over $2 trillion of cash.
individuals are sitting with $7 trillion of cash. nobody in their right mind with the fiscal policy in place wants to leverage up and build one million-dollar factories and put their money into research because there is too much risk. we cannot keep running. we cannot expect that monetary policy to do anything. cheryl: mark matson, thank you very much. thank you, mark. dennis: it is 15 past the hour. stocks now every 15 minutes. nicole: number one on the s&p 500. when you are looking at it, you can see it is a winner today. the stock has been a stellar performer. what are they surging today? upgrading them to a bond. talking about the fact that their turnaround is really underway. their margins lagged with the
fact that they have changed some products and elements within their structure that really does well for them. their outlook is good and there is growth potential there. the stock, itself, is moving to four year highs. it really is a winner and leading the s&p 500 right now. cheryl: local, thank you very much. dennis: the latest developments had on the killing of our ambassador. john bolton is up ahead on what the u.s. needs to do now. cheryl: remember this? there is a live picture from san francisco. the announcement of the apple iphone five. we are live. first, how the u.s. world currency is faring. ♪ woman 1: this isn't just another election. we're voting for...
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>> we are getting more information as the day progresses. first those killed the u.s. ambassador, chris stevens, as well as an information manager, his name is sean smith. plus two other americans. those two have now been identified. this happened in benghazi. at lot of postings around the mid east that have dedicated american diplomat. he was committed to advancing american values and interests. this is all a result of the american consulate. it was set on fire and then that deaths happened, two different reports about what he could have died of.
one, result of injuries from these projectiles or possibly a fixation of the smoke from the fire. libyan officials have apologized and said they will do everything they can to bring those responsible to justice as washington has said the same thing. we have spent a lot of time and lidia and we know there are a lot of militant groups there that could have been involved. this follows that other violent right and assault on the u.s. embassy in cairo yesterday. the flag being taken down. another flag being held up, an arabic language banner. this was definitely involved with this film that was made in the united states. it was believed that both incidents could be related.
everyone on the high alert today. algeria, the u.s. embassy there warning americans to avoid unnecessary travel. it is a region that is quite nervous in the wake of this tragic event and libya. dennis: have not seen anything like this since 1979. thank you very much. cheryl: let's switch gears and talk about this. apple is unveiling its iphone and about 40 minutes from now. we are counting the minutes. robert. >> good afternoon. good morning here and san francisco. definitely a different atmosphere here. we have an impromptu performance going on out front. we have hundreds of media and analysts who have now been filing in. of course, the big event, as you
mentioned, coming up at the top of the hour. the iphone five. i know you will be talking about what is expected there. will there be any surprises in there? you have folks coming in, we will be having live reports an update for you as soon as they unveil that in the next hour. cheryl: robert gray outgained san francisco. thank you. dennis: we are joined by scott sutherland. can this new iphone five live up to all the hype? >> i think it will definitely live up to the hype. bigger and faster will be the key selling points. this is what they expected last year. i think it will be a very large upgrade cycle for apple. dennis: whichever carrier may be
the lucky to get it. do you have any word on who may be clearing it right away when word comes out? >> i think you have to look first of all, the typical countries uk, canada, u.s. [ talking over each other ] i think verizon and at&t. they have networks that can handle this phone. they will launch it immediately. dennis: do you think they will hold back the many ipad and wait for next month? will they ship the new ipad before christmas? >> i think it makes sense to have that many ipad before christmas. it will be launched weeks later. absolutely, i think it will be a different announcement.
i also think it will be ahead of christmas. dennis: you have an $885 price target on apple. that is within 12 months. is there anything that could make you change that up or down? >> i would say my bias is to be upwards. nothing regarding today. we do expect some smaller surprises today. we see the sales likely on the 21st. we see the sales numbers, on the iphone five in this quarter and the global expansion next quarter. dennis: i just bought a new ipod touch and a nano a week ago. thank you very much. got sutherland. >> thank you. cheryl: president obama criticized for not talking tough enough after the attack on our consulate in libya. dennis: john bolton is ahead on
so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.
saying that liberty does not need me. he is noting that he may not stick around once john malone gets control of the company. he says historically it is known to be expensive. we will see what happens going forward. back to you. dennis: thank you very much, nicole. >> make no mistake, we will work with the libyan government to bring to justice the killers who attacked our people. dennis: president obama condemning the libya attack. john bolton has endorsed mitt romney for president. you say you are not that happy with the president response so far. >> no. i think it has been week. all of whom are potentially at risk from this attack.
dennis: protect them from doing what? >> .com the second point. he needs to make it there publicly and privately that they did not fulfill their responsibilities to protect our people. i think that message has to go out to other governments in the region as well. i am very worried we are at a moment before our diplomats were taken hostage. dennis: it does seem fairly familiar to those who remember 1979. mitt romney came out this morning with a rather strong statement which was critical of the obama administration. >> american leadership is necessary to make sure that event in the region to not spin out of control. we cannot hesitate to use our influence in the region to
support those who share our values and our interests. dennis: i thought political candidates had a certain spoken tendency that you do not decide your government when you are under attack. >> i don't think it is daring. i think we are in the middle of a political campaign. this is when people are making the decisions on who will be making the decision on who will be leading our country for the next four years. i think president obama's actions -- dennis: do you think, i know secretary of state hillary clinton came on the air before the president. it looked like she wanted to choke someone by the boat. the president looked rather muted.
>> i cannot explain that. i agree with your characterization of the obama statement. i thought it conveyed weakness again. i am very worried that the failure to make it clear publicly as well as privately that there are consequences when our ambassadors are killed, when people are put in jeopardy, private citizens in the region are in jeopardy as well. dennis: when present obama says justice will be done, does this mean waiting for libyan government to do something or can we send it navy seals and start doing justice ourselves? lastly, i think the obama administration has said the president will be traveling today to make a campaign appearance. >> i think that is a bad idea. we do not know what is coming next. in 1979 our embassy was breached
before the hostagetaking. we are in a very difficult situation. we want someone on the bridge in washington, not on the campaign trail. dennis: thank you so much for being with us, ambassador bolton. cheryl: an interesting perspective from ambassador bolton on that one. more of my interview with tim clark. i will also ask him about the middle east and the affect on jet fuel prices. dennis: despite that much anticipated federal ruling in the german court think the bailout looks good. first, let's take a look at ten year treasuries. ♪
prices more than doubled estimates with nine tenths of a percentage increase. getting a boost following the rating. -- the trend will continue into the next fiscal year. retailers may see their first bump in holiday shopping traffic sent 2007. during the peak holiday shopping month of december and november, traffic will increase. that is the latest from the fox business network. giving you the power to prosper. ♪ [ female announcer ] they can be enlightening. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence.
ashley: hi, dennis. a lot of this was already eight and. one that the limit of 191 billion euros of the germany government could put into the fund, if it goes about that they have to give parliamentary approval. interestingly, the market themselves finished mostly flat on the day. the footsie off a little bit. what this really does is set up a double bazooka backstop. that is the way the euro zone would like to see that. the second was the ecb. announcing it would buy unlimited amount of short-term bonds. when you put those two together,
it sends a very strong message to the markets we have you covered. does it really? dennis: today they announced a guy calling for creation of a truly controlling european central bank. ashley: it is really interesting. taking integration in the euro zone to a whole new level. what we need is for them to regulate all 6000 banks in the euro zone. that would be 17 countries. then you would have phased out over those banks. the question is what they want to give up that amount of sovereign right. the problem is, though, the ecb is saying we can never come to grips unless we have some kind of centralized body of government. dennis: okay. 1030 is adding one more.
from dubai to washington. i spoke with emirates president, tim clark. >> it is a combination of things. washington, of course, being the political capital of that united states. whether it be diplomatic oh, business is going backwards and forwards between the middle east and washington. and then of course we have a connection capability. the demand for the u.s. the difficulties and the global economy today remain particularly strong. these flights will prevail quickly. we are very comfortable that
washington will be as good as new york, dallas, houston, los angeles and a very short space of time. cheryl: let me ask you about that. you are in 120 cities, six continents. you signed a deal with qantas. the reason this was so big for the industry is because basically they ended their partnership with the british airways. do you think the types of partnerships we traditionally see, we will see that happening point out with middle east airlines like emirates? >> i think we will see probably in the next few years a real alignment in the way the alliance are structured. clearly, it was not working for them. certainly the joint sellers from australia. they valued what we were putting
on the table. we valued what they had to offer which was access to their domestic market, the 5000 flights. taken together, it was a model of commercial corporation, which i think will be part of the 21st century aviation. there will be airlines coming together which value what they have to offer each other which may transcend the current structures in place. cheryl: tim, final question to you, again, while we are focused on pensions in the middle east, that could affect fuel prices. are you concerned at all about jet fuel prices? >> of course. we are always concerned about jet fuel prices. we spent $6.6 billion on fuel. it is hovering around $90. things are threatening to go back above the 100-120 level.
this makes it difficult for the whole aviation community. it will cause the very rapid decline and possible termination of a number of airlines if they are not careful. yes, it is difficult times and what happened recently is not helping. cheryl: that was emirates president, tim clark. that video that you thought was the first jet landing at dulles. dennis: it is a quarter till. we have stocks now. you have to retailers. nicole: absolutely. we are looking at sears and kohls. over at torture bank today, talking about their same store sales today. that has been subsiding. talking about cheap evaluations.
kohls has been a leader on the s&p 500. the dow is up right now about one tenth of 1%. we have had a lot of names leading the way on the dow. such as jpmorgan, caterpillar, just to name a few. a recent court ruling showing germany will support the euro. they are behind the euro and the euro zone has some things as well. back to you. cheryl: thank you. first, solving your mobile entertainment dilemmas. with claimant will go one-on-one with dave ceo of a company that is doing just that. dennis: first, let's take a look of the winners on the nasdaq.
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dennis: too many screens. don't you hate it when the movie on your iphone has a hard time playing on your age dtv or your tablet. there is not an app for that. >> that you downloaded "the hangover" on say for example your laptop or your ipad, but then you wanted to finish watching it on your smart phone, but you can't. until now.
the problem may be solved. john batter is the ceo. how will this work? there have been many times i have done this. >> it is a media service that offers content across all the devices you own. we have a platform in the back and and our clients are available on tablets, smart tvs, phones, you name it. >> would it be and app? >> it is in beta. it is an app. it is available across operating systems on apple, windows, android, all of those various systems. >> we have the big apple announcement in a few minutes. forty-three? >> for free. >> how to make the money? >> when they buy movies and i --
five episodes to watch. >> you have brand-new partnerships with movie studios. >> we are. warner bros., universal, fox, paramount and sony. we are also announcing we are ultraviolet compatible and ultraviolet is the consortium of those studios and others that try to make the purchasing of digital movies as comfortable as the purchasing of physical media >> how important was it for them to let you be a part of them and how did you do that? >> there are barriers. some of it is understanding the studio system. content owners want to make sure their content is represented in the best possible way.
we went in and shut the content >> we should let our viewers know that john was president of dreamworks animation. >> as well as technicolor. >> how hard is it? i asked him you are aggregating everything onto the actual app itself. >> we are aggregating it onto our platform and then making it available through streaming. this is a combination of needing great technology and prowess and an understanding of home entertainment and content and consumer marketing. >> watch date. >> stay tuned, but q4 of this year. >> not easy. who should be made nervous? i think there is lulu, netflix,
apple tv, but they are not really getting going. >> our focus is really on the mass market. 75% of the mass market of americans today who have not yet crossed the digital five. that is who we are and that. >> i do not see disney on this list. >> we have not announced disney yet. our goal is to have all the content that consumers want. stay tuned for more. >> wait for the announcement. john, it is great to see you. john batter. coming up in the next hour, a fox business exclusive with the founder of pandora which is now a billion plus publicly traded company. they have huge market share.
more than 70%. apple may be getting into the internet radio business and with their battle power could this be a real problem for them? we are talking with tim westergren in the next hour. also the ceo of intel on their major announcement on chips and what are they doing to really get into the smart phone market. how is the altar book business going? we will see where he stands on that. back to you guys. dennis: thank you very much. that pandora god may be a dead man walking. cheryl: this is the real price of gas. this is an new jersey and pennsylvania. they are raising prices to more than eight dollars, even nine dollars a gallon.
these printers owners have already bought the gas. they are at no rush to sell it. they are sending a big message. dennis: i am thinking and e-mail may have been better than offending every customer you have. joining us at 12 eastern tomorrow, lou dobbs, gerri willis and eight slew of others. cheryl: coming up next, lori robin and melissa francis along with the unveiling of the new iphone five. stay right here on fox business. ♪ tdd#: 1-800-345-2550 when i'm trading, i'm so into it,
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