Skip to main content

tv   Markets Now  FOX Business  October 25, 2012 11:00am-1:00pm EDT

11:00 am
connell: good morning, i'm connell mcshane. dagen: dagen mcdowell. note to congress, get this fixed. more than 80 large u.s. companies putting the pressure on lawmakers to reduce the federal debt. connell: and how about this, don't care who is president so says peter fisher who only want urgency. keep us away from the fiscal cliff. dagen: buckle up and bundle up. old man winter with a monster of a perfect storm threatening to shut down businesses. what do you call it? it is going to be ugly. connell: you combine all of these things. top of the hour, more on that, every 15 minutes with nicole
11:01 am
petallides at the stock of the new york stock exchange. nicole: i went ice skating last night. some movers on wall street, the dow up 32 points. take a look at zynga. today is a great day for zynga, although it cooled off and hit a new low yesterday, the real winners on the street, see them higher by over 10%. wynn resorts coming out with numbers expansion in, the numbers are improving year over year, but the growth is slowing. wal-mart is a winner being added. and by a jedi dec biogen idec. selling friday was a big sunday, tuesday was a big selling day.
11:02 am
let's take a look at how we are faring. up one third of 1%. dagen: thank you, nicole. just updating hurricane sandy's track. approaching the central bahama. category two storm, 105 miles per hour sustained wind. much of the u.s. east coast has a very good chance of being blasted by gale force wind, flooding, heavy rain maybe even snow early next week by this unusual hybrid of a hurricane and a winter storm, it could be ugly. connell: absolutely. more about it in details later on. but you have more than 80 indian ceos posting a letter in the "wall street journal" calling for deficit reduction. we need cut entitlement programs, but we also need effectively higher taxes. steve forbes is here in the studio to talk to us about it,
11:03 am
but first robert gray and little while ago caught up with michael, here's what michael dell had to say about all of this. >> i'm chairman of the ceo council, we met with a number of readers who believe some kind of cover mice like what you are suggesting. this idea our government let us go over the fiscal cliff, that would be essentially playing chicken with the country, which i do not believe is a good idea and could not recommend. i think something like the balsams and plan -- bowls-simpson plan. no way government can spend more money than it takes in and have anything but problems.
11:04 am
connell: at here is steve forbes to give us his two cents or more. is this idea of a balanced approach as mr. dell said, bowls-simpson, something the ceos are endorsing. >> it depends on how you define the balance. raising tax rates, absolutely not. broaden the base into take-out preferences in the tax code and what they will find out if you will not be able to do this quickly. what i would suggest on the fiscal cliff goes: everything for 12 months and come january you can do this in a deliberate way with a new administration. what they will find is you can't have some preferences come to havyouhave to hit all of them if you're going to do any of them. you will see 1986 where they took all the tax out of the code, cut the top rate, that kind of thing would be very positive and that might even satisfy the ceos. connell: a lot of big names on the list.
11:05 am
what would you have said? say what you think of this specific plan. not exactly? >> i would have said for radical tax plan and in terms of spending cuts the idea you can oblige congress spending cuts years in the future just doesn't work. reagan tried it, bush tried it, they go on their spending ways. for reform on entitlement he will not cut current entitlement, that is not going to happen. but for younger people in the new system that is a good thing. and also ultimately paul reilley for younger people to have their own personal accounts. connell: is a big debate in the campaign depending on who is elected. i think one of the key questions sometimes people talk around this and don't give a straight answer, but i'm sure you will. the idea of more revenue.
11:06 am
if you do this big tax reform are talking about and it looks like 1986, if at the end of it the government is ringing in more revenue, more taxes being paid, is that okay? >> i would take the trade, but the key thing is not to keep the high tax rates and not to have put in a massive tax increase. the way you get tax revenue is through a growing economy. we did this after world war ii, for example. reduced taxes and the economy boomed. we did the same thing in the early 80s, cut tax rates, and little domestic spending restraint. the economy boomed. connell: you have a close loopholes and say you will have more revenue. i don't know of somewhere like grover norquist will say. >> depend how radically lowered the tax rates because there is a lot of junk in the code that should not be in there.
11:07 am
the key thing is get those tax rates slashed and you will see the economy blossom. a little bit of a spending restraint goes a long ways did you listen it didn't touch on was stopping the u.s. dollar. connell: always great to see you. dagen: more on the fiscal cliff, tax cuts expiring, spending getting cut, defense spending, you name it. forget november 6. the days following the election are much more important to the future of this country and this economy. how much danger are we in right now? and are we already in a situation where we could be in a recession or will likely be in recession in the first half of next year? >> we see that over the course of a summer.
11:08 am
because of the worries of the fiscal cliff, even the fed said as much in september. they don't know which way the economy is going so they don't know what to do with it. i think we can see that already weighing on the economy. a lot of the mathematical estimates of what it would mean sort of negative 4% on growth. it will not happen mathematically. it sort of gets ever seen. unfortunately some of it is already happening with the downtrend we are seeing. dagen: are you hopeful they act and are responsible? >> obviously the election matters for th but the day aftee election, whichever candidate wins will be sending a message about their way or the highway. will they be saying ou now is te time to come together? avoid the bad outcome for the country, dress him reform issu
11:09 am
issues, do that over the coming year. that move will be vital becausee the economy and the market could really be the wind to their back or could be a problem depending on the attitude they take. dagen: do you think it will ultimately take big picture north of $16 trillion, something going horribly wrong in this country to force them to really address that situation? i'm talking social security, medicare, and maybe significantly higher interest rates all of a sudden. do you believe it will take that, in eu thing that could happen? >> i whispe wish i were that cos would recognize a really weak economy growing below 2% is a bad thing the that should be wod about. that is what happened with the debt ceiling impasse a year ago in august. we had a really bad outcome. we got downgraded by one of the rating agencies and that's meant interest rates went lower because our future was bleaker.
11:10 am
the politicians have got to get over this idea lower interest rates are the best interest rates. low interest rates mean we don't have very rapid growth. people are gloomy about our future. that is something they have to get over. dagen: you think if they're worried about the debt and dealing with the slow economic growth, to address both of them at the same time, do you have a positive outcome on both? >> as long as we see leadership and look forward and tries to bring everybody together and isn't uncompromising, that is what we all recognize in bowls-simpson. we recognize facing the fiscal future will be a messy compromise. dagen: speaking of lower interest rates, we always look at treasuries would say the riskiest fixed income assets, high yield and how it has been performing. how much reward is left in those forms of fixed income in terms of the amount of risk you are
11:11 am
taking at this point? >> that depends if we end up like japan ike this for another decade in which you will be really happy bought on the high yield bonds, or will we recover and they will be a broader set of assets to invest in. let me say it a different way from if you go back 18 months, the ten-year treasury yielding 3%. how do we get all the way down here? the fed was nervous, operation and the fiscal cliff, might even have a recession next year. taking us from 3% down to one and a half. they backe back up to 1.8 in tht range mostly because europe is not as much of a mess anymore. that is the only thing that's changed from 12 months ago. so the word about a fiscal cliff and a risk of a recession next year. we still see the fed buying a lot of treasuries and agencies security.
11:12 am
they are really forcing investors to look at those high yield bonds were talking about as the only way. dagen: i don't get to see often enough. it is a pleasure. i can talk to you the whole hour. peter fisher. connell: a potential disaster in the state of ohio we are talking about which could mean -- dagen: is that joe biden voting? connell: or may not know for weeks after the election for the next president will be. dagen: gaming mogul steve wynn says china will be promoting more businesses. connell: and more what could be a devastating winter storm along the entire eastern seaboard. this will be a bigger and bigger story in a few days. all over that on "markets now."
11:13 am
and we are keeping an eye on oil. gas prices, $85 oil today. we will be right back. follow the wings.
11:14 am
all eyes, right here. this is our year. i thought it was last year... turns out i was wrong. none of us would walk in here and settle. that's how we a! i forgot what i was going to say. patrick, i want 100% commitment! because i care man, ok? who are we!? 49ers! 49ers! 49ers! yeah! [ all cheering ] what the heck is going on in here? sorry coach, i just got a little carried away. alright, i think we're good. [ morgan ] for a chance to be in a locker room on game day and more... join visa nfl fan offers andnd make your season epic.
11:15 am
11:16 am
11:17 am
dagen: we do stocks now and every 15 minutes. the call watch a couple of airlines. nicole: i am, indeed. delta and u.s. airways higher earnings earlier in the week in revenue trends looking so much better. let's take a look at two names that just reported, jetblue and united continental. jetblue is doing well today up 1.5%. they cannot lift third-quarter numbers. we saw it on the rise. the talk but the number of passengers per seat, the traffic improving, increased capacity. good news for jetblue up 1.1%. and then there is united continental. the world's biggest airline came in with a quarter lower-than-expected in quarterly profit. united continental back in 2010. they have been working to improve everything from the seats to the menus, but they are not bringing it. down 3%. connell: american airlines has
11:18 am
big plans to expand its network and they include hiring. plan to hire 2500 pilots. over the next five years announced in tampa with new international groups from america will introduce in 2013 and the airline introducing domestic flights as well part of a five-year plan to exit bankruptcy. and steve wynn betting on china. he believes something very bullish is in store for china and has a source inside the chinese government claiming the country is going to privatize and liberalize certain industries leading to massive expansion. said the u.s. may want to follow suit of the chinese. which would be a big deal, obviously.
11:19 am
dagen: except delta. had to remove him at present this guy has a huge raging staph infection. this will make you smile legitimately. cheap gas, prices under $2 per gallon. we will tell you where and why. connell: ohio, concerns over absentee ballots. will have to wait maybe for weeks a to see who the next president is. first, a look at the dollar. here's how it is performing today against the other currencies around the world.
11:20 am
sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments.
11:21 am
the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. sven's home security ts the most rewards of any small business credit card! w does this thinwork? oh, i like it! [ garth ] sven's small business earns 2% casback on every purche, every day! woo-hoo! so that ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve the most rewards! [ male announcer ] the ark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's inour wallet? here's your invoice. are we there yet? are wehere yet? [ male announcer ] it's the question we ask ourselves every day. is it the safest, the most efficient? the kind of vehicl to move not just people... but an industry forward? are we there yet? are we really? [ male announcer ] are we there yet? we are, for now.
11:22 am
introducing the all-new seven passenger gl. motor trend's 2013 sport utility of the year. mercedes-benz. the best or nothing. ember thattrend's 2013 sport utility of the year. escapes from a wildfire can travel more than a mile. you can't control where that ember r will land only what happens when it does get fire adapted now at fireadapted.org
11:23 am
>> 23 minutes past the hour. this is your fox news minute. we have some breaking news for the government has agreed to
11:24 am
report a cease-fire with rebel forces. they will defend all military operations to mark the muslim holiday that begins tomorrow morning and goes until monday. but they added they reserve the right' response to any rebel attacks. in afghanistan says news, two service members have been killed during an apparent insider attack by a local police officer although officials say the men opened fire on soldiers, they don't know the attack was an officer or insurgent posing as one. all a few rolling stones fans are in for quite a treat tonight. announcing they will play a warm-up gig to prep for their arena show. 350 tickets available for $20 under. thenow that is a business deal. those are the news headlines for fox business.
11:25 am
connell: appreciated. there are still altogether. dagen: a few lucky drivers in new jersey had a nice surprise when i went to fill up their tanks this morning. a price tag of $1.84 per gallon, that is not a typo. connell: $1.84? what is going on? >> how thrilled would you be to drive up to a gas station only to find out you only had to pay $1.84 per gallon? wouldn't that be great? four years ago that is what we did today. the national average is actually down about 13 sense over the past couple of weeks due to the changes, the winter blend of oil, decreasing demand, all of that. what is so exciting for folks if they are paying the cheaper rate. we spoke to some drivers and
11:26 am
talk about the high cost of families and how that might change their vote in november. >> i voted for obama before, and he gave was us a big change ine wrong way. >> what is it like for your budget to pay the higher gas prices these days? >> it is pretty hard. it is hard. >> who is paying for it? it is actually not the gas station. americans for prosperity, a group of washington, d.c., area backed by the coke brothers, prominent republican donors are paying for the price difference between the $1.84 and national average $3.62. i spoke earlier today with the new jersey state director and here's what he had to say. >> you can see how people are
11:27 am
willing to line up early to say 10, 15, $20 on a tank of gas. this administration doesn't understand that. it has not gone up accidentally. it is a deliberate effort to drive up the cost of energy to all americans. >> this is part of a 13 state campaign to get out the word of the price difference between four years ago and today. drivers were just excited about getting a nice price break. dagen: i love how people in jersey complain about the gas prices because gas tax as a solo, much lower than new york state and connecticut and elsewhere around there. >> new jersey size of the highest gas taxes at the state level all across the country among the highest. connell: thank you. anytime we are in jersey we fill it up because it is cheaper. we could have msn or hands in ohio. cohen devotes to the key swing
11:28 am
state, for weeks after the election. dagen: i swear that is the back of joe biden's head. the vice president. three weather events are se is o come together on the nations seaboard. forecasters say it could be, will be an absolute mess. losers they are, winners here on the s&p. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong.
11:29 am
11:30 am
11:31 am
tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm rit there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specif foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to indepeent tdd#: 1-800-345-2550 firms like ned davisesearch tdd#: 1-800-345-2550 and economist inlligence unit. tdd#: 1-800-345-2550 plus, i can talk to their global specialists 24/7. tdd#: 1-800-345-2550 and trade in my global accou commission-free tdd#: 1-800-345-2550 through march 20. tdd#: 1-800-345-2550 best part... no jet lag. tdd#: 1-800-345-2550 call 1-866-294-5409 tdd#: 1-800-345-2550 and a global specialist tdd#: 1-800-345-2550 will help you get started today.
11:32 am
connell: stocks now on "markets now" every 15 minutes. nicole is back to get closer look at best buy now. nicole: we're looking at rest by. let's see how they're faring right now. they're the downside hitting a new low, a new 52 week low. coming in and saying their warning earnings and same-store sales in the third quarter, u.s. head of businesses will be leaving trying to restructure the new ceo and of course still waiting to see if the founder will step in with a whole big bid. back to you. dagen: thank you, nicole. connell: the big day coming in two weeks but the potential at least for big problems in ohio. here's what is happening. you have more than 800,000 people in the state requested an absentee ballot but haven't mailed them back in. "usa today" a big report, if they show up and vote on the
11:33 am
sixth of november they give up a provisional ballot and would have to check that connectio con they didn't vote twice. dagen: it would not begin until a week after the election. what happens? a potential disaster in the making. don't laugh. >> gives new meaning to vote early and vote often. that could be a disaster. that would be florida all over again. which is to say if they would have to wait until november 21 to finally count all these provisional ballots and the question is if somebody had voted absentee and showed up to vote you will have lawsuits as he did in florida. connell: pretty much could decide, do you think the election, any result where somebody can win without ohio?
11:34 am
>> it is becoming more and more clear ohio is the place. it would be very unfortunate if this happened. i have to say, it does raise question of all of this early voting being done around the state. there is something nonsensical about the idea that you vote in a presidential election a week or two before the election is actually over. and the complexity introduced, in our election complexity always leads to problems like this. dagen: speaking of ohio with mitt romney shifting the subject a bit o but something connell is interested in, mitt romney saying china, current simulation, it was clearly a direct appeal to ohio. but you say it is a mistake. >> i think he is backing himself into a box. like the dog that caught the bus
11:35 am
if he calls in a currency manipulator. what does he do on day two. why would you a down economy, this is another issue that isn't getting too much attention. if the economy is bad as people think, mitt romney will have a huge job when he takes over. the last thing he needs any kind of trade problems with china because their economy is already going into decline as well. it would be a huge mistake, i think. connell: but first he has to win. you have the auto bailout, we bailed out you guys, you have to vote for me. he goes to china and the other big issue obviously is libya and benghazi. does that fade away or become a bigger and bigger issue as we get closer? >> thing the president has finally delivered the credibility gap on this,
11:36 am
something the president does not want to have this close to an election. the president is held to a higher standard. barack obama's credibility on benghazi has really eroded and i think this event is one of the factors that is causing his performance to go flat or even down in some of these states like florida or virginia or north carolina where you have large military presence. connell: thank you, as always. dagen: great to see you. the weather, a major event potentially this week that could shut down businesses, travel, all activity. we will talk to fox news janice dean coming up. connell: and as i said, lou dobbs is coming on.
11:37 am
lou away in. straight ahead on "markets now." let's check the treasuries today. i look at the live 10-year yield. 10.82. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest,
11:38 am
scuba diving the great barrier reef with sharks, or jumping into the marke he goes wh people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matterhat happens, which isn't rocket science. it's just common sense, from td ameritrad
11:39 am
>> i'm lori rothman with your fox minute reef. according to national association of realtors still up from the same time last year. mortgage rates hovering at new lows according to freddie mac the average rate on a 30-year mortgage rose slightly last week 3.41%. to accelerate touched 3.36%. its lowest level on record dating back to 1971. americans will spend a record $8 billion celebrating halloween according to the national retail federation. consumers will spend an average of $123 this year. more than twice the average of $63 spent a year ago. that is the latest from the fox business network giving you the power to prosper.
11:40 am
11:41 am
connell: back here on "markets now." pictures coming out, microsoft event today. we have been waiting for this, windows 8. here it comes. dagen: touchscreen, baby. live in new york city. >> good morning. playing a little catch up to some of these other guys trying to advance the ball but couldn't just that. a touchscreen on some of those going all the way up to dell, the 27-inch touchscreen. a lot of others including dell showing hybrids you can detach the keyboard. you saw some pictures ahead of windows just on stage upgrading it available for $40 starting tomorrow. as microsoft making the first non-xbox hardware.
11:42 am
making a tablet that competes against some of their other hardware vendors. steve ballmer telling me this one is alive. his own creation, if you will. we will see how well it works. also talked about apps. app developers read about them iputting the resource into a small marketplace when they can reach 100 million people through ios or google android. >> we have fa four more devicesd tablet devices with screens bigger than 5 inches for their apps to outsell apple and google starting this quarter. a phone form factor is different but anything over four or 5 inches screen, this will be the most popular app model in the world right now with the launch of windows 8.
11:43 am
that is opportunity for the developer. >> michael dell telling me in a separate interview we are finally giving consumers a reason to go buy a new pc. we will see that happens. if that happens. it goes on sale tomorrow. connell: robert, good stuff. dagen: there is the window eight sales pitch we heard from robert gray. the revamping of windows forcing users to relearn everything they know about microsoft. connell: steve ballmer making his case. we asked about it. here is what walt had to say. >> here is the deal. windows has been around for as long as any of us can remember. and it kind of had fallen out of the entire conversation the last five or six years. they didn't have a tablet operating system.
11:44 am
they have a phone operating system but it is separate. so they had a choice to come up with a separate tablet operating system and keep working on windows for what they decided to do, they decided to make all of windows work for any kind of device so they put a tablet touch oriented, slick, i think very nice front end on windows. but the downside is they now have two different user interfaces inside of windows, and people who are used to windows on the desktop and the normal apps will have to learn a new way to use this. dagen: it sounds confusing. >> they don't like it at microsoft when i have wanted that out. they tend to think of it as a short learning curve people get over and they may well be right
11:45 am
but for a while at least it will be confusing. if you want to use an old windows app of your own that you like or you need come you have to go to the desktop. the desktop doesn't come up when you start windows 8. this new, slick tile interface comes up and the desktop is launched like in app. and you can run your old apps. another twist, some of the window computers running windo windows 8 won't be able to let you run your old apps because those computers work on a different chip, flair: that windows rt, is really windows running on a different chip. people will have to ingest a whole bunch of little subtleti subtleties. i think the new design is very well done.
11:46 am
connell: walt giving us his thoughts on it. back in the conversations. dagen: i have a computer at home built for the new touchscreen windows 8. a quarter until the hour, stocks down every 15 minutes. nicole has a winner for us. nicole: dow component procter & gamble is one we're looking at. the stock is at the higher levels we've seen since 2008. a four year high. coming up with the quarterly numbers. the results topping analyst expectations. profit rose more than expected. procter & gamble is the world's largest household profits produs company. play to cut 4200 jobs by the end of october, that is their way of eliminating on the way to limiting 5700 jobs so the good news for procter & gamble as far as the prophet passing expectation. the major averages now.
11:47 am
a lot of selling since late last weekend continuing today. connell: now to the weather. we have tried telling you earlier leading up to early next week, hurricane cindy already talking about the latest track show it could be heading towards the state of new jersey on tuesday. dagen: calling it frankenstorm. very serious. >> all eyes are on the east coast. if you live from the carolinas off toward maine, you have to pay attention to this storm. it is likely we will have a landfall from a hurricane like storm. it is kind of what we are potentially going to see. a tropical storm meeting up with a cold front transitioning into a tropical storm that could be a worst-case scenario. in toward the bahamas, at one
11:48 am
time it was category three overnight. watch what happens. the field will be extraordinary. a tropical storm force wind all along the coast even if the storm system is way off, but this is the latest track as well, worst-case scenario for the storm system. storm surge 70, 80 miles per hour and heavy rain. connell: and meeting up with these other storms. thank you. dagen: a lot of times the power gets knocked out through connecticut a majority of the houses without power. terrific reporting. connell: more details revealed about the attacks in libya growing discomfort about what the white house really did know
11:49 am
about the death of four americans including the investor. we have just heard the sentencee intelligence hearing will have a hearing on this. lou dobbs will be coming up. dagen: and a look at some winners on the nasdaq. bob... oh, heylex.
11:50 am
just picking up some, brochures, posters copies of my accptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they d did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. nneed to get nasty. here's your "honk if you had an affair with tayl" yard sign. looks good. [ male announcer ] fedex office. now save 50% on banners.
11:51 am
11:52 am
connell: all right, the latest developments for you. the situation in libya coming in moments for th of the senate intelligence committee will hear hearings on what happened in benghazi. close hearings announced for the 15th of november with more
11:53 am
hearings promise after that. dagen: this little election will happen before that takes place. lou dobbs with us from "lou dobbs tonight." the american people decide if this is a big deal or not. >> doing so without the benefit of the evidence provided by the senate committee of intelligence. it is up to the people to hold a meeting on the 15th of november. the american people have been insulted more than six weeks after the attack in benghazi still have a contradictory statement of the white house, the entire national security apparatus, secretary of state, the united nations ambassador, and frankly i believe charles has it exactly right. we have both said and i concur with him, in the national media we should be embarrassed by what our colleagues have failed to do. that is to investigate.
11:54 am
four americans are dead and we have yet to see "the new york times" or the "washington post" step up and do any kind of serious reporting on this. in fact they leave out the story. 60 minutes, we now learned men share with you this report, "cbs news" publishing a quote in the interview on the 12th of september in which the president said this, "you're right, this is not a situation that is exactly what happened in egypt. my suspicion is tha there are fs involved in this who are looking to target americans from the start." "cbs news," 60 minutes in particular chose not to include that not on their website, not on their broadcasts. and there is a reason in my judgment used to the president appear on "60 minutes" 10 times, and you see him on all of these
11:55 am
other shows and not talk with the white house press corps in a news conference since march of this year. disgusting. connell: what do you think the political fallout will be? judge napolitano said even if we find out they lied, the only recourse is political. there is no legal recourse. the government can lie to the people. so then the only option you have is to not vote for people who live if you don't want to. how much will this affect the election? >> i feel it has already affected the election. in the series of the three debates, i believe the american people have the opportunity to go and buy the liberal national media and see these candidates
11:56 am
for who they are and also see something beyond the attack advertising. president obama has half a billion dollars attacking trying to destroy, i mean destroyed governor romney. when he stood up, america liked what they saw. america has made judgments about who is lying, who they can trust and who is being straight and who deserves a lot of condemnation for their conduct. dagen: "lou dobbs tonight" every weeknight. do not miss the man. connell: and we will go back live to the weather center with coverage of the storm on the way. frankenstorm. dagen: because it is halloween. connell: straight ahead on "markets now."
11:57 am
11:58 am
11:59 am
you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you seell of us serving you, around the country, around the corner. us bank.
12:00 pm
>> i'm dennis kneale. cheryl: i'm cheryl casone. america's biggest ceos telling lawmakers in washington fix the deficit or else. 80 chief executives signing an open letter urging spending cuts and higher taxes. that's coming up in moments. dennis: our debate this series leading up to election day will focus this hour on who has the better plan to fix housing. cheryl: plus a lot of hype as microsoft unveils windows 8. we will take a closer look at the operating system to see if it measures up. top of the hour right now, stocks now of course every 15 minutes. nicole petallides on the floor of the new york stock exchange. nicole, we are heading south, 16 points, kind of lack direction today unfortunately. nicole: it is true. we have been down for several
12:01 pm
days. really we have been selling since the middle of late last week. the trend has been around that unchanged line or to the down side. and here we are down about 17 points right now. we had been higher earlier. so traders continue to watch those sell-offs occurring. there's people like doreen mogavero who said she can't wait for a big sell-off to know there's real capitulation and say this is the moment to get back into the stock market. here's a look at the dow here. 1360 -- 13,060. some traders are waiting for 13,000. take a look at the casino company, wynn resorts. come out with numbers third quarter profit fell by 12%. couple of things to note, they are issuing a dividend for $8 a share. they are doubling the quarterly dividend next year to a dollar per share. they've done well with the encore and wynn resorts in las vegas, but however, they are seeing slower growth in macau. they are seeing year over year gains in macau but the pace of
12:02 pm
the growth is slower. back to you. dennis: thank you nicole. 80 ceos signing on to a letter publicly calling on washington to fix the deficit or else. elizabeth macdonald has been talking with some of them. she joins us now. liz: i will tell you something, we talked to ups -- we will get to what they said in a minute. this is called the campaign to fix the debt. they've amassed 30 million dollars in an advertising push to get washington to act. we even had ceos coming forward who never really talked before, for example sam allen of deere. and michael dell saying this to robert gray this morning about the deficit. here's michael dell. >> -- i do not believe is a good idea. i do not recommend. i think there has to be some combination -- i think something like the bowles simpson plan, you know, a logical way to approach this. it's also clear there's no way
12:03 pm
any government or organization can spend more money thaa it takes in for a long period of time. liz: here's ups ceo, scott davis on the deficit, on lack of leadership in washington, d.c. and we're showing on the screen the companies where the ceos are speaking out right now. here's ups saying i want our elected officials in washington, d.c. to start running this country the way we run our companies with real leadership, courage, discipline and foresight. they are worried about another debt ceiling type of a fight. the issue though will they get it done? congress tends to react to their voters not ceos -- not ceos. unless you have a crisis or sudden eruption of leadership in washington, d.c., it is not clear whether or not you are going to get deficit. the ceos want this in deficit cuts, they are saying it is a serious threat to economic well
12:04 pm
being, also want limit healthcare spending. and $3 in cuts for each $1 tax increase. >> thank you very much. cheryl: dunkin brands marking the straight quarter of double digit growth. they did see a slight miss on revenue side. joining me now is dunkin brands ceo. welcome back to the show. >> very nice to be back with you. >> let me ask you this, we're going to get to the numbers, first i want to ask you and get your reaction on this open letter from these 80 ceos that's been released. i'm curious what you think they want to see congress do when it comes to the 16 trillion dollars in debt. they want to broaden tax base, increase tax revenues and cut spending. what do you make of what your colleagues out there are saying to congress?
12:05 pm
>> well, i agree with it. you cannot run anything, a company or a country without putting your foot on the gas pedal and your foot on the brake pedal and i think the idea we can carry on by cutting the deficit but not increasing taxes is one that's not sustainable. so i think you need a balanced approach. what i would also say is we at dunkin brands have worked very positively with the white house. we have got a number of changes made in the last couple of years. but i think the real issue is the dead-lock in congress. i am currently reading bob woodward's book about the price of politics. if you read it blow by blow, it is pretty terrible. but what i am confident about, i was in washington three weeks ago, i think whoever gets elected, i think there is a belief now there needs to be more a collegial approach. i think this letter is helpful,
12:06 pm
it will push congress down that root. there will be more collegial approach. i think they have to focus firstly on the fiscal cliff and my view is and i'm very optimistic that it will get done. cheryl: a group of investors earlier this week saying the same exact thing, they agree with you as well. let's talk about expansion plans. here in the united states you have maintained you want to double the size of the company in the u.s. for the next 20 years. do you still feel confident considering where we are economically in this country that you can do the type of expansion that you want to do? >> yeah, we feel very confident. we're one of the few brands where financing isn't an issue. we haven't discussed financing, franchisees since the early part of 2010. in our earn report this morning we increased our guidance in the u.s. for dunkin donut stores from a net 260 to 280. we moved it up to 280 to 300. globally we nearly doubled the number of new stores that we opened in the last quarter. we feel very confident that we're going to make this, say, a
12:07 pm
mega growth company. we think that we're well on the way to hitting the 5% dunkin donuts growth, that so many investors have asked me about. when they ask me about that, i've always said the only reason we don't go there now is we want to get there in a steady sustainable way, rather than just going for the numbers. we want every store that opens to be profitable. and that's basically happening. so it's growth. cheryl: that's good to hear you will stay on track of the plans. obviously your third quarter profit qu druple -- quadrupling is going to help things. the international markets have been a big revenue stream for dunkin and baskin-robbins. is that going to continue do you think considering what we're seeing over in europe >> we feel very good about baskin-robbins, dunkin donuts international is a work in progress. we're making investments in the supply chain and management. in terms of europe, very small
12:08 pm
part of our international business. less than 500 stores out of 7,000. we've actually just made a small investment in spain, around 2 million dollars. we've actually done very well in spain this year. but our franchisees were stretched, so we made an investment. we're going to work with them to build on the success they have already had. now, i'm a european and i'm more positive about europe than many. clearly there are problems to be resolved, but i think they are well on the way to sorting it. i think we're now seeing a leadership. you could argue a little bit on the light side. but we're now seeing leadership in europe. and i think europe is a growth opportunity going forward because i really think we have hit the bottom this. cheryl: i know the k cups have been so far very successful as you go after starbucks. i have to ask you this, you are trying to get a patent on the term bagel -- [inaudible] -- am i going to see this in my dunkin
12:09 pm
store in the next year? >> cheryl, you may, we go after many names. but a more traditional name is the -- [inaudible]. i've got this here and i will promote it. i know you like donuts. but it is back for halloween. [laughter] cheryl: all right, nigel. yes, i am a donut fan. that's pretty much knowledge in this newsroom. thank you very much. great to have you on. >> thank you very much cheryl. dennis: coming soon moving into tea. [laughter] dennis: the markets are down today partly by the new push by 80 's to pressure washington -- 80 ceos to pressure washington into fixing the deficit. scott martin is joining us now. scott this message of hey washington get your act together, do you think it will lead to any tangible change? >> no, and i've got to give credit to michael dell, dennis, i think he made the great point, you know, congress, again, i mean this isn't the only year, we have done this the last couple of years with estate tax and whatnot, playing chicken
12:10 pm
with the american consumer and american taxpayer and it is really troubling. listen i think something is going to get done. i don't think we're going to totally go off the fiscal cliff. yes there may be a couple tax increases here and there. as far as the market impact, i think the market is looking past into earnings this season i think that's why we're seeing some recent weakness. dennis: we are down 470 points in four trading days and down another 15 today. scott, can i please have my rally back? >> i will give it to you right here. i will give you a couple sectors that i think will rally. it's consumer discretionary. call me crazy, but i likeethe consumer here, especially going into what i think will be a pretty strong spending christmas holiday season. and i also like iyr. i have talked about that all year. there's a lot of transactions going on in the real estate sector, not necessarily housing, more commercial, industrial and healthcare. i like both of those sectors to go up for you. dennis: uh-huh. now are we facing maybe the chances of a slingshot economy that turns up no matter whether obama or romney wins the election, the economy goes up anyway? >> yeah, i think there's a good
12:11 pm
chance. i made the point in the notes. i mean everybody talks about how obama is bad for the market, and yes, he probably stepped in at absolutely the perfect time to be in as far as the president with regard to stocks. he's a known quantity. he's thrown a lot of things at this market, healthcare, regulation, threatened higher taxes and the market is doing okay. romney i think will get a bigger bounce, but i think the market goes up either way. dennis: well said thank you very much. cheryl: the perfect storm is brewing, a possible combination hurricane and winter storm lining up to hit the northeast and threatening to shut down business, commerce, and of course travel. we're going to get an update from the fox weather center straight ahead. dennis: man, that's scaring me, got to tell you. microsoft's chief steve balmer ahead on why the new windows 8 is good for his stock. cheryl: but first as we go to break, want to take a look at the oil contract as we do of course every day at this time. safely in the mid 80 range.
12:12 pm
we will be right back.
12:13 pm
12:14 pm
12:15 pm
dennis: it is 15 past the hour stocks now every 15 minutes. the dow doldrums continue. and nicole is watching the the big three airlines flying south. nicole: that's right. we're taking a look at some airlines here on wall street. we have gotten some mixed reviews. let's take a look at how they are faring right now. delta airlines and also us
12:16 pm
airways have posted higher earnings, dennis and cheryl. that was earlier in the week and saying that revenue trends were looking pretty good so that was some good news there. though united continue innocent -- continental, they are the world's biggest airline, united bought continental, ththey reported lower profit and revenue. jetblue, third quarter earnings rose. they talked about more traffic, increased capacity. this one looking good there. it is unchanged. it did have an up arrow moments ago. it was bucking the trend. back to you. cheryl: interested on united as well nicole they are trying to deal with labor issues still, long after that merger. great stuff nicole. thank you. the presidential election is only 12 days away. and many say the key for both candidates could be ohio.
12:17 pm
but we may not know who wins ohio for weeks. 800,000 people in ohio who received absentee ballots had not mailed them in yet. so if they were to show up and vote on november 6th, they will be given provisional ballots which then will be checked to ensure they did not vote absentee and then in person counting the ballots wouldn't begin until at least a week after the election. so the key swing state and its 18 electoral votes could be up in the air for quite a while. dennis: oh, man, that is going to be some night and some election. and now to our man in ohio, fox news's carl cameron joins us from cincinnati. carl? >> dennis, neither one of these campaigns want to hear anything about the possibilities of recounts sor the need to have -- or the need to have provisional ballots counted or juxtaposed to how many are outstanding absentee ballots because both sides think they are going to win ohio and both sides in their victory strategies assume they are going to. and yet the polls have been so close here, that it is going to have to be a battle for the
12:18 pm
ground game organization or grassroots up until the last minute. the romney campaign believes firmly this time around they have far superior ground game than mccain did in 08 and they argue with some new technology and on-line social media, they are actually even stronger organizationally than the 04 and 00 george w. bush campaigns. for mr. romney the sprint will be pretty ferocious for the last 12 days. he's doing three tops today in ohio. he will be in ohio tomorrow and plans to campaign straightforward with a new slogan he sort of unveiled today. that the choice is going to be the status quo which in romney's mind means stagnant economy and more empty obama promises or unkept promises and a big choice he calls it for big change in his vision for the future. he talked about it quite a lot today. he's making the argument that the president has no second term plan and it is evident by his attacks on mr. romney what romney calls small issues in the face of huge challenges. listen. >> the last year and four
12:19 pm
debates, three presidential debates and one vice presidential debate, the president has been looking for a plan. he's been looking for some way to help the gentleman i spoke about, some way to help the 23 million people that are out of work. he hasn't been able to find a plan. he hasn't been able to define what he's going to do make america strong, going forward. i have. i have a plan that will create 12 million jobs and rising take-home pay and i'm going to help that man who needs that good job. [applause] >> romney makes the argument that on healthcare, if you like the status quo, you'll get obama care. if you want big change, he will repeal it and put in a more market private sector driven system that will help more people and give them better access to lower premiums and lower healthcare costs. if you like the status quo on energy, the obama administration will give you more of what he says is less and that the romney campaign and his administration's agenda will ultimately bring if more oil, more coal more gas and more green energies as well. down the list, mr. romney is making the argument that now that it's status quo and
12:20 pm
stagnation versus big change and in many cases what he says will be the undoing of the obama agenda in a romney administration. dennis? dennis: thank you very much carl cameron. cheryl: well our debate this series leading up to election day focusing this hour on which candidate has the better plan to fix your favorite topic, housing. dennis: take a look at this, a live picture of hurricane sandy, may turn out to be the perfect storm to hit our east coast with snow and lots and lots of it. janice dean, the weather machine is live next. cheryl: oh, man. first as we go to break, take a look at how the world's currencies are faring against the u.s. dollar. not a lot of change with regards to the euro in particular. we will be right back.
12:21 pm
oking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have go to a bank to get the things you want from a bank, like no-fee ms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy asaking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity.
12:22 pm
12:23 pm
12:24 pm
>> 24 minutes past the hour i'm the meteorologist in the fox weather center. we are watching a very big storm, an interesting one. right now it is hurricane sandy, and it is just passed through cuba, right here centered across areas of the bahamas. we will be dealing with the impacts of this across areas of the u.s. for about the next 3 to 4 days. in the short-term we have a tropical storm watch and warning for areas of florida. think we will see areas 3 to 5
12:25 pm
inches of rain and a lot of wind. winds gusting tomorrow morning up to 50, 60 miles-an-hour along the coast. take a look at what happens over the next couple of days. the storm stays offshore. all coastal areas of southeast will be dealing with high winds and big waves, cause a lot of beach erosion. we will see most of the rain offshore. by saturday morning the rain will be approaching the outer banks and in towards the carolinas. take a look at the track of the storm, interesting scenario. we think it will curve off towards the right. take a look at this, curve right back towards areas of the mid-atlantic towards the northeast, probably lose its tropical characteristics. that means the strongest winds won't be at the center of the storm. they will be expanding out and possibly talking about a massive historic storm impacting areas from boston down towards d.c. a lot of people living right in this area. we have a lot of time to watch it and continue to do that right here in the fox weather center. dennis, cheryl? cheryl: this is now being compared by some other forecasters out this morning saying this could be a perfect storm, like we had back in 1991.
12:26 pm
i mean, how possible is that? cheryl: not only is it possible i think at this point it is looking more likely we will see that kind of scenario. remember the big movie that was filmed from this with george clooney? that 1991 storm caused a lot of damage. we will be dealing with a very similar kind of storm. let me tell you, this potentially a stronger storm than that 91 storm. dennis: the last big hurricane we had, i seem to remember a couple of months ago, moving extremely slowly and just hovering there for hours and hours. is this one moving a lot faster? >> it's actually not -- won't be moving all that fast to be honest with you. it will be a long duration event, probably 36 hours for a lot of people. winds along the coast maybe up to 80 miles-an-hour for a lot of people. major beach erosion. also coinciding with the full moon, that means we will be having the highest tides while the strongest of the storm surge and the heaviest of the rain. cheryl: let's go back to 91 for a moment. that hit more north; correct? we are looking at this one hitting basically the new york
12:27 pm
new jersey area, talking about a much larger population, i mean that's got to prepare for this; correct? >> the worst of that storm was up around areas of massachusetts and maine, that perfect storm. this one, if the center of this verifies, it is moving more towards this populated area. again, we're four to five days out here from that. we can't rule out that it is a maine kind of impact or delmarva peninsula impact, best bet somewhere from new jersey new york connecticut area. cheryl: thank you very much. dennis: high-stakes for microsoft as it unveils new windows 8 operating system. our robert gray is live at that event. robert? robert: hey, dennis, that's right. and you know, the event actually just wrapped up. but steve balmer out there unveiling the surface and of course showing off the brand new windows 8. it is basically a reimagining -- they say it is the biggest launch they've had since windows 95 which really kicked things up another notch. i talked to steve, he told us
12:28 pm
exactly why he thinks that windows 8 is a game changer. >> you certainly can be struck by the new user interface to windows. it's just not the same. it is alive. it is alive with the news, the people, the activity that is most important to me. my friends, my applications, my websites, you know, things are changing in e-mail, in news, in sports. it's alive with activity. robert: and it's also giving them a new way to create new platforms, new hardware. in fact, microsoft, i mentioned the surface, getting into the hardware business, guys. they are hoping to expand the microsoft footprint and take share away from the others including of course apple and google. back to you. dennis: thank you robert gray. the whole look of it changes and computer users, we hate change. it's going to be a big shift,
12:29 pm
really rough for us. cheryl: there's not a lot of change in the oil contract today. but oil prices have been up. and they could make a run, believe it or not, at their lowest price of the year. what do i mean by all of that? i will be explaining that -- actually jeff flock will explain that from the cme coming up next. dennis: and our debate this series continues right up to election day. next up, which candidate has the better plan to fix housing? let's take a look in the meantime at today's s&p winners and losers. ♪
12:30 pm
♪ [ male announcer ] how do you engineer
12:31 pm
a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial svices. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex.x. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects clude headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experien a sudden decrease or loss in vision or hearing. this is the age of taking action viaa. talk to your doctor.
12:32 pm
he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades th a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. we are seeing the dow jones
12:33 pm
industrials down 25 points. take a look at ford motor. every 15 minutes on the fox business network. let's look at ford and how it is fairing, they are closing a few european facilities. and this is cutting operating costs by $500 million over the next two years where they plan to indoor billions of losses. the demand isn't as much and that is one of the reasons they are doing this after all. looking at the dow, the nasdaq and the s&p we are seeing down arrows and losses we have seen, the nasdaq composite down and the dow jones industrials down 0.2%. dennis: who had a better plan to fix housing? president obama or mitt romney?
12:34 pm
we have kevin finkel, real-estate vp, and the chief economist. let's start with the picture. you say every indicator shows housing is up. is the recovery here? >> most markets in the country, even though it is far from where it was at the worst point of the crisis. it is important because there are fewer vacant homes, the housing recovery, a big change from two or three years ago. dennis: do you second that emotion? >> i agree. i think we are seeing some stabilization but it is a far cry from seeing recovery which usually implies we will see home prices going up. that is still a ways off.
12:35 pm
very anemic job growth, 16% of the population. until you get that change, back to work, hard to foresee a future with home prices rising if incomes are not -- the overhang of supply, there are 1.5 million units on the balance sheet, banks have to come off. that is a big problem with prices, you know that will be coming eventually. dennis: you think we could afford to eliminate the tax deduction for mortgage interest payments. >> it might hurt housing in the short run if it is not done over time. i don't think it ever happened suddenly. it is politics. who knows? the mortgage is twofold.
12:36 pm
it causes people to buy large houses and put a lot of debt on those houses to take advantage of other tax breaks. is a very regressive tax break. this is the bigger long-term problem. if it causes the government to in sent people to buy single-family homes, people stayed in one home, work at one job for many years as well. the job market is more dynamic. you need laborers who move city to city. apartments specifically are better place for the government -- dennis: we can't eliminate mortgage interest deductions. housing has been at the center of the economic meltdown. >> no one is suggesting we eliminate the mortgage interest deduction today. that would have a negative effect on housing prices and even longer term it makes sense to think about a different type of deduction or a reform, no one
12:37 pm
is suggesting eliminating it today. important to keep in mind why we are talking about it in the first place. there is bipartisan agreement about cutting back on deductions. that is one of the only areas where there is bipartisan agreement. republicans tend to like reducing deductions because it allows for lower rates on a writer based which allow economic efficiency and most tax deductions benefit higher-income tax filers rather than lower income tax filers which is what the left likes the idea of lowering deductions at least for the very rich. that is why we are talking about were in deductions in the first place. half of the value of itemized deductions are housing related. mortgage interest deductions -- dennis: in the entire country. let's switch to kevin. politically no one will touch the interest rate deduction on mortgage, are they? >> i don't know. clearly there are a lot of interest and powerful political
12:38 pm
organizations including the national association of realtors will fight tooth and nail to keep it. compromise is going to have to come if we are going to get past the fiscal cliff and get real budget reform. this is a $100 billion item. that is a lot of money even in washington. i believe when you hear the left talking about this issue and the right talking about this issue, that probably speak to the future a little bit because there's something there. i wouldn't bet for or against it. i never bet on politics but feels like there's something there. dennis: appreciate you being with us. good day. everyday is the election we debate the issues that matter. next up tomorrow we debate possibly the biggest issue, the economy with jefferies managing director and jeff cleveland, senior economist. don't miss it at noon eastern tomorrow.
12:39 pm
tracy: metal and energy washington contract all over the map. let's go to the cme in chicago where jeff flock is standing by with winners and losers. pretty volatile today. jeff: you hit the nail on the head. all over the map we are in the eurodollars future which is pretty noisy. take a look at the winners thus far. look at gasoline futures, a 25 -- not with in 25 years has there been a losing streak like this. we have a bounce today and those futures doing better in the middle better today. gold and silver, low prices bring more buyers. natural gas, that has been up for a long time but there's a lot more supply says the government, and corn also down today and oil, took a quick look at oil because that is one that is flat today but there's a lot more supply out there. you talked about this earlier. in a lot of places we are seeing
12:40 pm
more supply than we had. it is bearish for oil. tracy: back to natural gas we are shouting down drilling situations across the united states because we have too much supply. >> might have to burn it rather than selling it. tracy: too bad we can't drink it. thank you very much alive at the cme. american airlines set to hire 2,000 pilots in the next five years. we will tell you about their high end vip lounge that just opened. dennis: the new york times stopped sinking on a surprise loss. the great lady, the ceo broiled of a scandal. tracy: take a look at the ten year treasury. we will be right back.
12:41 pm
12:42 pm
tracy: i am tracy byrnes. orders for big-ticket items rebounding, nearly 10% from august marking the largest gain in two years. durable-goods products last two more years. the u.s. economy getting better? nearly two thirds of the 48 economists surveyed by u.s. aid today say it is. economists expect bp to coming at 2.3% and unemployment may fall to 7.6% by the end of the
12:43 pm
year. are you stressed out at work? 63% of those surveyed say they are feeling high levels of stress and extreme fatigue. 39% say the reason is an increased work load although prolonged job uncertainty and sagging a have caused a feeling of worker burnout. that is the latest from the fox business network giving you the power to prosper.
12:44 pm
tracy: parter and gamble profit rising more than expected but the productsmaker is cutting a lot of cost. sandra smith joins us with the trade. sandra: one of the winning stocks up 3%. nice jump out of the gate after reporting earnings this morning. analysts like as well as investors. analysts average stock rating is overweight right now. year to date this is not a stock you would want to own to this point because it is
12:45 pm
underperforming the broader market. i want to focus in if i could make it a three month chart so you can see the jump since the summer. this company implemented a turnaround plan earlier in the year, starting to work. the major thing they said in this report is they are beginning to grow market share, really focusing on their product and businesses and that is helping. proctor and gamble a big winner today. "after the bell" amazon.com, this is a stock that if you look at a year to date charge, spectacular run. lost some momentum and stock up 31%. analysts still like it and the price target $2.78. that is $2.27 today. still expected to report a loss "after the bell" of $0.07 but revenue growth expected to be in the double digits. they have been adding distribution center so a catch for investors as they try to expand their online retail business because they have been doing so well but that costs money and that will cut earnings and also have a look at apple in
12:46 pm
the next couple of hours as well. tracy: amazon is hiring as well. sandra smith. quarter till every 15 minutes stocks now. nicole petallides has activewear maker underarm. nicole: everybody knows somebody who has underarmour. if you are sporty you have something of underare and when you look at it today pretty unbelievable when you see the down arrow here. they come out with numbers and did see higher sales across all their segments. they have been working on trying to get more female customers, but seagram saying the expectations are so high going into the quarter and the guidance they are giving may not even be enough and you see it down 7%. this is a stock that has been up 50% year to date and has been moving higher on high expectations. take a look at the dow, the nasdaq and the s&p. the nasdaq is down 0.2 of 1% like the other major averages. it is likely to the downside. now one of those 200 point days
12:47 pm
we have seen recently the down 33 points on the dow. dennis: the new york times co. getting clobbered today. stock down 15%. the biggest tumble in three years on a surprise operating loss, revenue mix, downturn even in online ads but the bigger problem, next month the new ceo joins the company. mark thompson. until recently the top executive of bbc. some critics even in your times's public -- requesting this appointment asking what did thompson no about bbc killing an investigative story on allegations that a popular bbc host the you see here who died last december at 84 had he molested 200 barrels over several decades? thompson says he knows nothing about the case or the story. tracy: american airlines has big plans on the horizon to expand its network and they include hiring.
12:48 pm
the airline plans to hire 2500 pilots over the next five years. the airline also announcing it is adding more international and domestic flights next year as part of its five year plan and hopefully there bankruptcy exit plan will be in that. dennis: recovery for california at's economy not looking too bowlen. tracy: talk about big brother. id chips in school uniforms to track your children. we will tell you why one school district thinks it is a good idea. dennis: we will get today's winners on the nasdaq. [ male announcer ] you are a business pro. monarch of marketing analysis. with the ability to improve roi through seo all by cob.
12:49 pm
andou...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro.
12:50 pm
12:51 pm
12:52 pm
dennis: the initial jobless claims report, for first-time benefits and peter barnes standing by washington. peter: that was expected for this week. and kicked up a lot of deaths here, but claims were down sharply, after some real roller-coaster up and downs in the month, with some unusual numbers out of california. any problems in processing claims, basically about 30,000 claims here that people were trying to find at the labor department. you recall we had one big decline before the second presidential debate so lot of
12:53 pm
sensitivity. in today's report, these missing claims finally showed up in a charge on the last page. california saying its claims popped 27,000 in the week ending october 13th because of layoffs in the service sector. california officials say for it system and processing it started the new quarter on october 7th. not october 1st. as a result we saw some strange things going on. labor department saying california did not do anything wrong. it has discretion on whence it processes these claims and when it reports them to washington. dennis: mystery solved. peter barnes. tracy: time for your west coast minute. report forecasting california will not see a recovery next year. according to the pacific business forecasting center overall economic growth in the
12:54 pm
golden state will slow marginally in 2018 and job growth will decrease. slowing exports and reduced government support are blamed. the economy not stopping american airlines from opening up a flag ship check in center at lax. the at the ip only flag ship chicken will offer concierge service like greeters wearing top hats, comfy seats and a private elevator that will transport celebrities to their day. the city of seattle considering dropping regulations that require taxicab drivers to meet specific hygiene standards. clean clothes and nobody yoder has been the rule but drivers say other workers don't have to abide by such rules so why should they be singled out? city council will decide whether to keep that rule. that is your west coast minute. dennis: they should be singled out because i have to ride in the cab right next to them. i'm in favor of a change of regulation on this.
12:55 pm
sure it is not enforced in new york. >> what about workers at the bus station? bus drivers? how far the ago? dennis: you are sitting right there. let's talk steve wynn. he may be doubling down on his bet on china. the casino mogul saying on his earnings call last night he believes something very bullish is in store for the country. the force of his inside the chinese government claiming the country planning to, quote, privatize and liberalize certain industries. this could lead to massive expansion and went on to say this. that the u.s. may want to borrow that page from china and follow suit. that shows you how it has changed when china wants business to expand and regulators on -- telling them what they're doing wrong. tracy: note to congress.
12:56 pm
there is going to be more on the call from chief executive to reduce the federal deficit. dennis: melissa and lawyer talking exclusively. the chairman and ceo greg brown straight ahead on markets now.
12:57 pm
[ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and save you up to thousands of dollars in out-of-pocket costs. call today to request a free decision guide to help you better understand what medicare is all about. and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a range of plans to choose from, too.
12:58 pm
and they all travel th you. anywhere in the country. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations... and provided by unitedhealthcare insurance company, which has over 30 years of experience behind it. call today. remember, medicare supplement insurance helps cover some of what medicare doesn't pay -- expenses that could really add up. these kinds of plans could save you up to thousands in o-of-pocket costs... you'll be able choose any doctor who accepts medicare patients. and you never need referrals. so don't wait. with all theood years ahead, look for the experience and commitment to go the distance with you. call now to request your free decision guide. this easy-to-understand guide will answer some of your questions,
12:59 pm
and help you find the aarp medicare supplement plan that's right for you. dennis: 80 ceos out publicly with a letter saying they want to cut spending and increase tax revenue. i hope melissa and maury will figure out of it want to raise tax rates to get higher tax revenue. tracy: something interesting about the survey in an open letter to congress is they said we support both but typical washington is we are going to raise taxes and keep spending. that is where you get big disagreement from the ceos. you have one of those coming up. melissa: is a great issue. i am melissa frances. lori: i am lori rothman. demanding deficit reform ceos from 80 companies calling for action to reduce the federal deficit. our nation's security is at
left
right

47 Views

disc Borrow a DVD of this show
info Stream Only

Uploaded by TV Archive on