Skip to main content

tv   Markets Now  FOX Business  June 10, 2013 11:00am-1:01pm EDT

11:00 am
it is yours. dagen: tell charles the only crime in new york city like kicking a cab if you get caught. so have added. one of the most recognizable faces in america over the weekend. is he a criminal for comp are my thing mark charged up, high energy market could feel desire for bigger profits. and let's cut a deal, some employers setting up a market to allow employees to buy and sell vacation days. tell us if you think that is a good idea. do that on twitter get and facebook ceo challenge and women saying there needs to be a bigger push for equality..% we will talk to one ceo who has worked her way up from secretary to the top job in her company. those stories and so much more this hour on "markets now."
11:01 am
nice animation. connell: she will be here any second, and there she is. dagen: as long as you don't photograph my backside. connell: a little moonwalk. dagen: i have the pack on, so se as i have some sort of a growth. connell: we will have that. coming up, he has everybody talking about that, but let's talk to nicole petallides at the top of the hour. nicole: let's take a look, dow jones industrials up 18 points, doing well friday is a great day, a winning week with the dow up one-tenth of 1%. not a huge move all of you have a lot of volatility with the swings.
11:02 am
the u.s. dollar today is stronger, oil and gold are mixed and watching some names on the dow like at&t, that has been a winner up 1.6%. united health care, donald doing well, the sales numbers globally. those are some of the names moving the dow along. so far so good. we see the nasdaq up 13th of 1%. connell: thank you. dagen: the justice department watcwatching investigation to te man leaking an investigation into top secrets surveillance program. connell: rich edson in d.c. has the latest. >> edward snowden was working as a national security agent for a government contractor. he says he is in hong kong now hiding from prosecution after confirming he leaked information about federal government extensive monitoring of phone
11:03 am
calls and e-mails. snowden sat down with "the guardian" newspaper and they greenwald him for a fortress, he leaves the information because of concerns like the spying program was growing. >> even if you're not doing anything wrong, the storage capability of the systems increase every year consistently by orders of magnitude. >> a spokesperson says intelligence community is reviewing the damage that has been done by the recent disclosures, any person who has a security clearance knows he or she has an obligation to protect classified information and abide by the law. this incident raises a host of concerns in washington. does the federal government have too much power or are there too many federal contractors with access to secure information? government analysis says 790,000 government workers have a top-secret clearance. nearly half a million contractors do.
11:04 am
total, nearly 1.5 million can view secret government documents. back to you. dagen: thank you for that. steve moore is here. see economic writer at the "wall street journal." the revelation of the spying program if you want to call it that, information gathering program, shocking nonetheless and this comes out. give us your reaction to what we found out over the weekend. >> you asked a question o at the beginning of the show, is snowden a hero? no he is not a hero. he has leaked classified information i could put a dent on the war on terror. we had a great piece today by the former governor making exactly that point. the disclosure of these techniques we're using to try to track down terrorists is giving a lot of information they should harbor for us. this is a business show, right?
11:05 am
one thing people should consider is the expense in which terrorism has a very negative effect on the way our economy works and on the market. if somebody came in and announced in the next half hour a bomb blew up in the school or a shopping center, think what that would do to the economy and the market. this is a very serious business, he should not be treated as a hero or some sort of a whistle blower. but as a criminal. dagen: virtually all the revenue comes from the government. but stanley issue of the leaking of information. it raises the question of should fewer people particularly contractors look at those numbers a different way, 1.4 million people have top-secret clearance, more than a third of those are contractors. do we have to dial back who has clearance? we had to do a better job of granting access?
11:06 am
>> i am not qualified to answer that question, but i will say this, when we have these top-secret counterespionage programs and counterterrorism programs and you leaked information to the press, it is broadcast all over the world, it makes it very difficult for us to track down these terrorists. there are very negative allegations. i am surprised, actually, so many people in the media are treating snowden as some sort of a hero. dagen: steve, focus on the surveillance program, what we know about it. we know a lot more than we did a few days ago. the president really drove home trying to balance freedom and our safety and inconvenience. think about the surveillanced program. does it have the right balance in your mind between sacrificing
11:07 am
our privacy and protecting our freedom? >> dagen, i'm a civil libertarian, i believe very strongly in american civil liberty and freedom but i am also a hawk when it comes to the war on terrorism. my office used to be across the street from ground zero. so i think about that every day. if it takes these kinds of surveillance techniques to foil the attack, i am for it. we know from some of the evidence that has come forward in the last week or two, the surveillance techniques have been accurate and have been effective in terms of foiling terrorism. i would say we are living in a new age where we know the terrorists are trying to blow up schools and buildings and disrupt our whole way of life in this country and i do think these kind of are
11:08 am
probably necessary. dagen: incredible story and so many pieces to it. thank you so much. and then there is the whole hong kong issue and do we get snowden back from china. connell: the chinese might be able to veto any extradition attempts make it even more complicated. getting back to the market for a moment, our next guest says the biggest story at this point investors should be focused on not neccssarily one we will taper, but the continued oil boom. dagen: joining us now. a great boom, great for jobs, but demand is down lower than it has been in a decade. too much supply is bad if you are an investor. >> what does the low cost of energy mean to our economy?
11:09 am
so we produce oil right now $0.75 on the dollar to the rest of the world. we produce natural gas. those numbers are staggering. it makes more and more sense to manufacture in the united stat united states. when every single thing you had was made in china. they say 2015, two years from now, we will produce goods at the same cost they do in china. that is a giant shift in our nation's economy. on the natural gas front with the price being so cheap many more companies announced they will change their fleet to natural gas vehicles instead of regular vehicles so what is that doing for the bottom line? what used to happen is it would take four or five years before it becomes profitable for the equipment to start it. now does taking one or two years for those things to be profitable.
11:10 am
it allows them to expand and hire more people. so we see this oil and gas boom in the united states steadily gross domestic product thing were more money coming into the country, shipping out more oil, but we are getting a edge in manufacturing that we think has a resonating affect for our economy in years to come. connell: best to add the last portion of equal some, stock prices continue to go higher, broadly speaking. as resul a result of the theory? >> no. the parallel industry is one industry. you know about the atrocities we hear about workers being chained to tables and made to work for very low prices. right now in the apparel industry, more of it is being manufactured here. they know the work was being treated fairly nd receiving a fair wage. all different types of industries are benefiting. that just happens to be one.
11:11 am
we like to buy the market in general. all of the good high-quality jobs coming back to the united states. that is just increasing the gross domestic product in the united states. it happens to be good for every american, and good for the stock market. theemore money businesses are saving. one thing about natural gas, we have here in the states, fewer sitting on a block of land full of natural gas you can go and sell your lancer natural gas company. run the world that is not the case. in other countries the state owns the land. when we determine you have a natural resource, that is our resource. we're kicking butt and taking names in the energy sector. connell: a little half full story, wrong with that. the practice of real estate,
11:12 am
tearing down homes to build fancy, bigger dwellings. dagen: st. louis federal reserve president talking inflation in the last hour saying he is getting nervous it hasn't shown signs of turning around. says he is not interested in those talks. connell: apple's developer conference getting underway out west. tim cook expected to have some news for us. stay tuned for that.
11:13 am
11:14 am
11:15 am
dagen: stocks now and every 15 minutes. nicole, investors are liking facebook. nicole: absolutely. you say all right, $38 ipo last may, and here it is, big moves to the upside up over 5% today.
11:16 am
both coming out with some positive calls. we talked about the fact they upgraded to a buy from a hold. talk about all the factors, all those are factored in, we believe the shares have bottomed and some of the near-term upside catalyst are being ignored. that helps along. insta graham, new products and advertising including video ads and jpmorgan reiterates their overweight rating after $35 price target. back to you. connell: 24.15 rights now. a hot commodity. if you don't have enough vacation days, you can buy some. in hi a study for human resource management revealing 5% of u.s. companies allow employees to purchase additional days off.
11:17 am
7% allowing those feeling generous to donate any extra day to have the general pool other people use wherever if you are not in a giving mood for one reason or another you can turn your days in for a cold, hard cash. & let them trade unused vacation days and get cash in return for them. dagen: he wants to hear from you on this. would you buy or sell days off from a colleague or could they be a powder keg in the office? connell: we are asking that question, lots of problems. what would you do? keep them coming. we will get some responses on the air later on in the show. trading vacations. dagen: tearing something down to go bigger. now making a major comeback. connell: skipped the fed, why there are bigger things to worry
11:18 am
about than ben bernanke. first a look at some of the world currencies today on "markets now." 132 now for the euro. weewill be right back. at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?!
11:19 am
if your bank doesn't let you tayou need an ally.on 24/7 hello? ally bank. your money needs an ally.
11:20 am
(announcer) at scottrade, our with scottrade's onlinbanking, i get one view of my bank and brokerage accounts to easy move my money when i with oneneed to.. plus, when i call my local scottrade office, i can talk to someone who knows how i trade.
11:21 am
because i don't trade like everi'm with scottrade.e. (announcerscottrade. awarded five-stars from smartmoney magazine.
11:22 am
>> 22 minutes past the hour, i am lauren green with your fox news minute. taliban insurgents have passed the main airport in kabul. they used rocket propelled grenades and assault rifles. some attackers were killed by afghan security forces in a separate attack reportedly beheaded two boys ages 10 and 16. in florida, true reflection underway in george zimmerman's trial. he is claiming self-defense in the 2007 shooting death of 17-year-old trayvon martin. the judge rejected the claim with the attorney who says they need several more weeks to prepare.
11:23 am
and nelson mandela remains in serious but stable condition. the south african president and nobel peace prize award winner has been housed mice for three days undergoing treatment for a recurring lung infection. and those are your headlines. back to connell and dagen. connell: this trend of buying a perfectly good home and tearing it down used to be all the rage back in the day and it is back. dagen: jeff flock in illinois joining us with more. jeff: good morning to you. i think it is the best indicator of all. come over here from north shore builders. you are about to knock this one down. go ahead and give him the signal, we will watch it as we talk, do what you have got to do. this is a 50s era home, kind of a single family on a slab.
11:24 am
doesn't fit the neighborhood anymore. >> it does not. the slab homes are too small for these lots. they are just too small. jeff: this is a process that kind of went away during the downturn. now it is back in a big way. so i didn't want the competition to know how successful we were being. now the competition is out-#ez there. >> have a lot of construction going on even on this block there are three or four homes. jeff: can you spin around and show them the house next door? a better indication of what is coming. i want to talk to the architect who will design the new home
11:25 am
going on this lot. do you get any negative feedback? >> typically we're doing a tear down in the downtown area with small lots. it is very sensitive, the owner can come out and watch the process but a lot of times they don't care, they're happy to see the old home go away because that means a property value is going up. jeff: some people say you cannot stop progress, some people try to stop progress. the onus here is on the people trying to stop it to say why should this person's property value not improve? >> not only does it make this individual home, it increases the whole area. it is a win-win. jeff: oh, my dear jesus. there you go. on a slab. the kind of house that will go here when they are done, we will
11:26 am
show you the size of the house when we come back next hour. in the next three hours we will have this process dagen: thanks, jeff. coming up tomorrow, last week we went out and toured a $190 million estate in connecticut. that is a shot of the house. that is a potential tear down. the most expensive home currently on the market in the united states. $190 miilion. 50 acres in connecticut all on the water, those are some of the ground you have seen there. french renaissance style stone. it is a potential tear down. it wasn't even staged for the viewing. this is all part of the one hour business real estate shhw
11:27 am
tomorrow. you want to tune in tomorrow. cannot wait. you will see more of the house. it is an amazing house, 12 bedrooms, you can see the interior of it. it is very, very modest on the inside, many fixtures are original to the house. connell: i hhd never heard of them before. much more on that tomorrow, much more on the market today, depending on the fed. our good buddy is coming in here, he says there is something more important than ben bernanke investors should be focused on. dagen: facebook chief challenging women thing that has to be a bigger push for inequality. one ceo that started as a
11:28 am
secretary for the company she now runs. coming up. and here are some of today's winners on the s&p. we went out and asked people a simple question: how old is the oldesterson you've known? we gave people a sticker and had them show us we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the queion is how do you make su you have e money you need to enjoy all of these years. ♪
11:29 am
11:30 am
11:31 am
connell: time for stocks now. nicole is looking at mcdonald's this time around. nicole: watching mcdonald's because they came up with global same-store sales numbers and showed good numbers. they beat the street, swear watching a ow component up about 1.5%.
11:32 am
take a look up 1.5%. so really approaching the $100 mark. same-store sales beat estimates of 1.9% here in the u.s. easily surpassing estimates over in europe they did well, asia was a problematic area particularly in china hitting the numbers. japan was flat. they have had a smaller number of consumers with the tough economy. some not interested in these hits the stores and they want a good deal. pushing the values changing up the menu. back to you. dagen: they got rid of the burger because it was too expensive. every investor is fretting over the federal reserve next move except one. our next guest has other worries. connell: he is here. the institute for new economic thinking which just sounds shady
11:33 am
in and of itself. that aside, what should we worry about it is not tapering like ben bernanke says we should be worried about. >> obviously the government withdraw income from the economy that has a much more contractionary effect anything the federal reserve will be doing. connell: cutting spending is bad. >> yes. you're probably sick of hearing it but i know they say consistency is of a foolish mind but i think that is the most important thing out there. i think you're going to see ongoing deterioration regardless of what the fed does with the program. dagen: this goes back to previous argument we have had. if the fed pulls back and longer-term interest rates continue to go higher, that will put more pressure on the federal
11:34 am
government to pull back on spending, yes or no? >> no. i was going to point out but we ran out of time in the late 1970s we had 20% interest rates. you can always spend operationally. there is an income affect associate with those high rates as well. people recipients of social security also are beneficiaries. a point has always been monetary policy in general has very ambiguous effects. it is a tax on saving consumption. connell: i was just thinking of brian westbury on the show friday. a mental note to have you all on together at some point. be that as it may. he is, on with us all the time and may be exact opposite argument on friday.
11:35 am
he things if you cut spending and fewer regulations, that is really what is hurting the economy. >> had a discussion with that last week. at the end of the day we didn't get a financial crash in 2008 the cause we had too much regulations and too little spending. we had a credit bubble and mass amounts of deregulation causing huge instability. now we have some attempt to reregulate in the financial sector, but the fact that people in the private sector are still burdened with private debt, much more dangerous thing then public debt in my opinion. dagen: this relates to the national security agency scand scandal, the leak, the problems with the irs. step back and look at all of this, bigger government as a problem we're having trruble as a nation managing leaks who have
11:36 am
some information, what is going on with critical agencies like the irs. do you think that impact was going on in terms of the spending in washington? more pressure to shrink government? >> never comes in areas concerned with industrial complex. we are not spending money on the roads in new york city or improving bridges or our education system. dagen: we haven't raised the gas tax. >> did not raise the gas tax in 1952. we have a long tradition the country up using the states to get involved in a large infrastructure projects. turning into a cause a police because they spend money on spying. connell: we will maybe have a halfway decent conversation. >> i was always told to be well
11:37 am
behaved. dagen: thank you. apple's developers conference getting underway. tim cook expected to have some news for all of us. connell: we will have that, and setting up a market to let employees buy and sell vacation days so we would like to know what you think of that idea. dagen: one ceo who worked up from secretary to the top job. whether women should be working at all, whether you have made a choice between work and having kids. i hope connell weighs in i can smack him upside the head.
11:38 am
we know a place where tossing and turning have given way to sleeping. where sleepless nights yield to rtful sleep, and lunesta eszozopiclone can help you get there, like it has for so many people before. do not take lunesta if you are allergic to anything in it. whenaking lunest
11:39 am
don't drive or operate machinery until you feel fully awake. walking, eating, driving or engaging in other activities while asleep without remeerg it the next day have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohoy increase these risks. allergic reactions such as tonguer throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunestm thers a land of restful sleep, we can help you go there, on the wings of lunesta. >> i am lori rothman with your fox business brief. joining morgan stanley brokerage department.
11:40 am
chief strategist with payback for 18 years. irish drugmaker once again rejecting increased offer from u.s. investment firm royalty pharma. last week raised the hostile bid to $7.7 billion plus milestone payment. they helped assess the other unsolicited inquiries it has received. u.s. auto industry gearing up for a hiring freeze to keep up with demand. expect the industry to add 35,000 workers this year and parts suppliers also have to add workers just to keep up. that is her latest look at business from the fox business network giving you the power to prosper.
11:41 am
connell: so we are back and apple has the buzz back. talking of what apple may unveil at the worldwide developers
11:42 am
conference. dagen: robert gray has more. robert: we are outside of the developers conference ann we have a developer here. 17-year-old, he founded his app at age 15, one of the youngest people ever to attract venture capital funding. sold your app to yahoo. tell us your involvement. you are passionate about getting other young people involved. >> i'm integrating this technology to yahoo. last month integrated it into one of their apps. today is about other young people. fascinating to see young developers 15, 16, 17 from around the world really excited. robert: there are a lot of things we have heard, the new ios, as a developer, what is the most important thing you are looking for aside from hanging out with some of your buddies?
11:43 am
>> i love building designs. it is real focus on flat design, the experience is clean and beautiful. i have no idea what they will say. >> other developers have told me they can take four times longer to develop for the irs then the web. will they make it easier to design? >> i don't know what specifically they will be launching. it is really exciting for young people when they want to do an apt they can have millions of customers download that product and there's nowhere else in the world they can do that. robert: any productions or a wow factor you would like to see an ounce? >> we will have to wait and see. i am excited. robert: 17-year-old entrepreneur. we are in the wrong field. dagen: absolutely. connell: good for him.
11:44 am
dagen: a has he bought anything for himself? thank you so much for that. the developers conference for apple. would you buy or sell days off from a colleague or cubbies exchanges be a powder keg in the office? connell: say my company does this, i take the money every year. all right. -underscore right. we have some vacation sharing 30 years ago. i have heard stories like that you give away your vacation days for somebody who needs them for personal reasons but that is who denies. as we do stocks every 15 minutes. a fairly flat day for the broad market but the s&p with the credit outlook the end we are not downgraded.
11:45 am
we are in pretty good shape, is that the take away here? a big deal off to the races. what is going on? >> from indoor low lows, off 30% of the entire collection we have seen since may. we have come a long way very fast. you still see good signs of resilience. they held where they needed to down on the s&p. really maintains entire uptrend from last november the real positive. the last six of 10 days over triple digit type ranges in the movement the last time we saw that was quite some time. the first five months of this year we saw four days with triple digit rating. we are certainly starting see more volatility, daily charts, it looks like the market can
11:46 am
push higher despite the concerns regarding a lot of economic numbers coming out. connell: as always, thank you very much for checking in. a great story, remarkable on a number of levels. an entry-level worker at one company all the way up to the ceo of the company. dagen: her story falls in the middle of this ongoing debate about equality in the workplace. should women work and have children? yes, we are still debating that in this day and age. more after this. it's monday.
11:47 am
a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud, global broadband network and custom communications solutions, your business is more reliable - secure agile. and with responsive, dedicated support, we help you shine every day of the wk.
11:48 am
11:49 am
11:50 am
dagen: women make up nearly half the u.s. workforce but only 4% are ceos. according to market researcher catalyst. connell: she worked her way into that 4% category, so that in and of itself is a great story from karen kaplan, chief executive officer. thank you very much for coming in. as we said earlier the most remarkable part of the story is where you started. so tell us. >> i graduated from college and went back-to-back recessions in the middle '80s. i intended to go to law school, wasn't so sure wanted to be a lawyer but delayed the inevitable and if you'd for a job as receptionist at an ad agency in boston.
11:51 am
and intended to spend about a year there. and now here i am running the joint. exactly. dagen: how has the treatment of women in the workplace change and the perception of women? what was it like when you first started? >> i don't know if you are a fan of the show "mad men" which is set in the '60s. i think the business has changed dramatically over the past 10, 15 years, a lot of transparency driven by the internet and social media in particular we ha.dagen: less sexist. >> absolutely. everything is more open for the world to see. that is great for the minority groups, but i loved it the minute i started, i have loved it more every single day because it is a great business for men or women to get into.
11:52 am
connell: there have been hot button issues of women in the workplace sparked by a number of different things. from princeton and yahoo, all of these things. 4% women ceos, what you think is the biggest contributing factor to thaa, why is it so low in your view? >> i have no idea. i can't believe we're having this conversation. i think that there is equal opportunity for women at least in my company. hallmark has always been about giving someone a task that we believe is beyond their capability at the time and if you believe in people, they believe in themselves. so i can't tell you, i have read all the data, and there is so much data supporting that women
11:53 am
are actually very good managers in some ways better managers than men, so i cannot answer the question. dagen: as shocking as that statistic, there was this report about a week or so ago that 40% of households the woman is the breadwinner. 40% of those households children under the age of 18. and then the outrage, the male outrage this is the decline in the fabric of america and civilizationnwomen would be the breadwinner in the household and gogod for bid have children as well. i was curious about your take on that. >> i think each individual has to make their own decision. to have sort of a blanket philosophy about half of the population whether it is good or bad for the country, each individual, for me i took it one
11:54 am
day at a time, one month at a time when my kids were small there are times it was difficult, but i would say the same thing for men in the workplace. having a big life is great for anybody i used to joke with being a parent, make me a better manager because when your toddler don't want to put his or her coat on. that is the same sort of skills i think, to the workplace, and i am not kidding. connell: i think that is true in our house. working and having a career, passing it on to your kids, the goal oriented mindset is a good thing, i think. >> people always say you must be a great role model for your daughter. i said i think i'm a great role model for my son as well.
11:55 am
i think it is staggering all the conversation being held. exactly what i would have expected. dagen: and more in years to come. would you please come back. be well, we can have you on from boston. but if he wants to talk about. >> thank you very much. dagen: i knew we were in agreement. much more ahead on the man that leaked top-secret information. our intelligence leaks a threat to national security or critical to protecting our civil liberties? our twitter question. we want to hear from you. connell: the kickoff of our new idea series. delivering milk to your door. all coming up as "markets now" continues. [ le announcer ] here's a word you should keep in mind. unbiased.
11:56 am
11:57 am
some brokerage firms are. but way too many aren't. why? because selling their funds makes them more money.
11:58 am
which makes you wonder -- isn't that a conflict? search "proprietary mutual funds." yikes! then go to e-trade. we've got over 8,000 mutual funds, and not one of them has our name on it. we're in the business of finding the right investments r you. e-trade. less for us. more for you. the fund's prospectus contains its investment objectives, risks, charges, expenses, and other important information and should be read and considered carefully before investing. for a current ospectus, visit
11:59 am
dennis: the dow is up. i am dennis kneale. cheryl: i am cheryl casone. dennis: the s&p issuing a better outlook. the justice department searching for the man that leaked information. they found him. cheryl: new ideas. companies and people making money through innovation. what is old is new again. cheryl: top of the hour. we have nicole petallides at the
12:00 pm
new york stock exchange. nicole: there is still a business for it. the dow jones industrials up about 15 points right now. you look at the stats in the last several sessions, we really have had some big swings. you can see the tech heavy nasdaq up three tenths of 1%. some of the dow component doing well. we are seeing oil and gold mixed. we have some weak numbers out of china. cheryl: japan, a two-year high
12:01 pm
for that market overnight. thank you, nicole. the market should not be worrying about the fed moving away and tapering off. you have people saying it will happen sooner them later. >> i think a lot of people are fixated on the stock market performance. when will the tapering begin? the mandate is focused on mandating employment. therefore, with inflation being benign right now and not a threat, i do not see how he pulled back at this point.
12:02 pm
cheryl: we got 7.6% on friday. need to be at this point. surprisingly, it may mean that the fed can maintain the bond buying. >> i think that that is right. it is interesting. there are two camps that are interesting right now. there is the former fed chairman saying that the fed steps out, confidence for zen and the market takes off.
12:03 pm
cheryl: of economists say that we are not in a stock bubble. you also had jamie dimon as chairman and ceo. volatility is on. it is already summer. >> i want to use that word. i want to bring scary back. scary to me was jpmorgan and bear stearns. that was really scary. this does not scare me right now. i do think that the fed will taper off.
12:04 pm
i think that is what they want to see. we have a bunch of top reports coming up. cheryl: we are not that to 2007. we are seeing the market pick up. >> i think the regulators would not want to hear these terms being used again we have corporaae balance sheets. the third leg is making a return. let's hope for a better
12:05 pm
transaction. cheryl: as you look overseas, the japanese market, the u.s. economy as well. thank you very much. dennis: edward snowden stepping in as the source of the week. rich: he says he is in hong kong trying to avoid u.s. prosecutors said. he admits to leaking information about e-mail and phone spy programs at the national security agency. snowden justifies his actions in an interview.
12:06 pm
>> the program needs to decide whether these programs are right or wrong. this is the truth. this is what is happening. you should decide whether we need to be doing this. they are looking at a billion phone calls. we face a very real asymmetric threat. our greatest line of defense against that terrorism is and -- intelligence. rich: 790,000 government workers
12:07 pm
have clearance. nearly 1 million a half can be a secret government documents. back to you. dennis: this leak causing a fear on capitol hill. how damaging are these intel leaks to national security? thank you for being with us, brian. >> it is a little bit about. these programs have been going on for years. when these details come out, particularly who the government
12:08 pm
is working with, now terrorist can know that certain modes of communication are in fact compromise. they are giving away methodologies to targets. they are not necessarily at the cream of the crop. they want to do something bad and will come up with a way to develop a pressure cooker bomb. they want the sophisticated. they realize if they bought a disposable cell phone they can do these things.
12:09 pm
there are lots of folks there can be easily tripped up this way. dennis: the guy who did the leaking, they say they are shocked. >> top-secret clearance takes a long time. as you know, once these people get access to this information, did you get how is the information controlled? dennis: ric. if this big fishing expedition
12:10 pm
-- how is it that we managed to miss the boston bombers. >> there are lots of thoughts out there. we are big dog of our own success at this point. now we are getting down. what really worries me is we are not necessarily this privacy is a huge component. companies. dennis: got to run.
12:11 pm
thank you for being with us today. cheryl: that brings us to our twitter question of the day. give us your answer. we will read the answers coming up later on the show. dennis: we will kick off our new ideas. take a look at oil as we do every day at this time. ♪ ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor...
12:12 pm
[ indistinct shouting, bell dinng ]'llust your brain box. ♪ all onhinkorswim from td ameritrade. ♪
12:13 pm
12:14 pm
cheryl: i want to show you the dow on this monday. you have walt disney and hewlett-packard.
12:15 pm
really, i want to show you something else. we actually had a very interesting and very volatile week. why am i bringing this up? why am i telling you about this? because last week we gained .88%. the dow has really been on a tear. nicole petallides is standing by at the new york stock exchange. nicole: i am indeed. they are the company, edward -- he has stepped forward as the person who leaked information about secret government surveillance programs.
12:16 pm
who is alan hamilton? he has clients with the government. they are saying that these news reports are shocking and the fact that they will take action and such. this has been a top story on all the news media this morning. cheryl: thank you very much. this story just continues. we will see you soon. dennis: the markets reacting positively. with more on that we have elizabeth macdonald. liz: breathe easy. there will only be a one in three chance that we will downgrade the u.s. in future years. also, more headlines coming out from the s&p.
12:17 pm
the dollar is going to keep its reserve status going forward they also upgraded the outlook for the federal reserve. basically, that could mean more bonds by the fed in the future. that outlook gives the fed reading room to do that. they also said that inflation is not an issue right now and that the fiscal cliff deal really did help. they still cite inciting in washington, d.c. as a problem. they are also saying that this fight coming up, you will see more fights about that. we have not heard from moody's and fits yet. those two rating agencies have the u.s. credit on a negative outlook. we will be watching that one and giving you the headlines as they come out. dennis: thank you very much, live. cheryl: let's take a look at
12:18 pm
pandora. apple, in the next hour will unveil iradio. dennis: manhattan milkman. rethinking an old approach. ♪ she knows you like no one else. and you wouldn't have it any other way.
12:19 pm
but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the on daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoidong-term injury, seek immediate medical help for an erection lasting more than ur hours. if you he any sudden decrease or loss in heang or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, ngue or throat, or dficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30-tablet free trial [ whirring ]
12:20 pm
[ dog barks ] i want to treat mo dog ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t he the security you need to get you there. call us. we can show you how at&tolutions can helyou do what you do... even better. ♪ canwhen you do what i do,... iyou think about risk.. i don't like the ups and downs of the market, but can't just sit on my cash. i want to be ppared for the long haul. ishares minimum volatility etfs. investments designed for a smoother ride. find out why 9 out of 10 large professional investors choose isharesor their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. rearisk iludes possible carloss of principal.i
12:21 pm
12:22 pm
♪ >> i am lauren green with your father news minute. palestinian insurgents attacked. they used grenades and assault rifles. in a separate attack, alabama fighters reportedly beheaded two boys, ages ten and 16. floodwaters from the elbow river forced people to evacuate. in florida, jury selection is underway in george zimmerman's trial.
12:23 pm
that is your fox news minute. cheryl: new ideas. looking at people and companies making money through innovation. you may not remember this depending on how old you are. milkman are back. >> i saw an opportunity for busy new yorkers to get what they want. a lot of families wanting
12:24 pm
perishable items to their door without dealing with the long lines at the end of the day. we really are one-on-one with our clientele. cheryl: you have celebrities clientele. >> we have a few. cheryl: obviously, this is not just now. it is eggs and juice. perishable items. all organic. >> we shopped what is in the local community. we use farms upstate new york.
12:25 pm
it has a cream on top which a lot of people like. we are not only, you know, delivering that. we are giving a grave threat to our clientele. cheryl: minimum delivery is $15. you have been approached to go public. you are being chased by venture capitalists. talk aboot that. >> it is flattering. the exercises are great to go through. it is definitely, you know, it is very flattering to learn that.
12:26 pm
we just want to make sure that if we take that next step, it is comfortable for us. >> i know that you would love to expand. history may be behind you. thank you very much. >> thank you. cheryl: you do have a partner and you guys are doing pretty well. >> thank you very much. dennis: coming up on new ideas. our weeklong innovation. challenging the big guys with inexpensive razors and blades. new ideals all week. 12:00 p.m. eastern. cheryl: men love that. anyway. dennis: it is a razor. they are kind of all alike. cheryl: we are live at the apple developers conference ahead. there are reports that apple is about to come out with a new
12:27 pm
ipad. dennis: is bernanke about to ruin the party? how that is playing with commodities and treasuries. take a look at some of the s&p winners and losers. ♪ it's monday.
12:28 pm
a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do jt that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is mor reliable - secure - agile. and with responsive, dedicated support, we help you shine every day the wee
12:29 pm
if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copdaintenance treatment that helps open my obstructed airways for a full 24 urs. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems suddepassing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helpme breathe better. does breathing with copd weigh you down?
12:30 pm
don't wait to ask your doctor about spiriva. how olis the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ cheryl: bernanke's next move. the fed action could change market direction. how it is playing with commodities and treasuries today. apple shares are higher about a half hour before it's developers conference. they may develop a new ipad
12:31 pm
and iradio. edward snowden. hero or criminal? tweet us your answer to our twitter question of the day. we will read the answers coming up later on in the show. it is the bottom of the hour. stocks now and every 15 minutes. nicole: it is exciting to take a look at some names on the street. they are working at a new soybean. they are saying that they are waiting for chinese approval. chinese approval will be key. on saturday, china actually approved three new strains of genetically modified soybeans. genetically, this will boost
12:32 pm
trade. facebook was an upgrade today. also, mcdonald's. dennis: thank you very much, though call. is the end in sight for the cheap money party. the news moving treasuries and commodities this morning. joining me now from orlando is gary and the filth -- phil flynn from the pits of the cme. the fed can maintain asset buying.
12:33 pm
>> by 3:00 o'clock in other fed had another thing. they are really starting to confuse the markets. interest rates are starting to back up. it will be interesting if yields continue to back up the way they have. >> bond prices went down. please explain how that is. why that is. >> we call it the taper tap dance. you have that inverse relationship with the bond market. i think what is most important is, forget what the market said.
12:34 pm
it is that lack of inflation. that is confusing the fed right now. with all of the money printing that is going on, where is the inflation. the reason we are not having it is we are still in a deflationary environment. what he is basically saying is if we do not see the data perk up, if we do not see gold or silver rally, we will have to keep the foot on the accelerator dennis: is there no inflation or are we missing it? >> they tend to have inflation with food and energy. right now, gold is down. commodity prices are down. the problem is, we have evidence, 100 years of history of what happened when countries print money. eventually, it shows up. when it does show up, it usually shows up out of control.
12:35 pm
that is usually when all hell breaks loose. the dollar was up a little bit and gold seemed to come back down again. i do not know how much credibility though gold market or the dollar market really gives s&p. it did seem to rally the market a little bit. we are seeing weakness in gold and over right now. we all know how this story ends. it is having weakness and commodities. we are not as strong as the fed
12:36 pm
would like to think we are. dennis: do you think that the fed is pulling back right away? >> the last two times they stopped over the last four years, the stock market dropped 17 and 20%, respectively. they have been watching markets for a while. what happens if the market when day wakes up to all of this and gets peeled about what they have been doing. i think they know if they start tapering off that will have an affect on markets overall. it is just a bunch of bs. they really have to go all the way. they have to start raising rates on the short end. dennis: thank you very much for being with us.
12:37 pm
cheryl: so-called tear downs. there is a real estate market picking up. jeff flock is out one of these tear downs. jeff, we missed the beginning, but how is it going out there? look at the progress we have made since last time. they are just about to take down the last piece, well, one of the last pieces of this. this is a single story. maybe you see it. it is being deconstructed right and front of us. you went to a major slowdown and now it is back in a big way. >> this is great. this has been it is really hot ground here.
12:38 pm
jeff: this is a well-heeled suburb of chicago and the north shore. there is a demand. you do not have vacant lots in a town like this, but people want to live here. >> people definitely want to live here. you need to create vacant lots. jeff: i think we have a drawing of what this new home will look like. >> this new home will be a two plus million dollar home. >> correct. jeff: you went through the difficult times. did you ever think we would get back to this where we would be tearing down homes again to belleville? progress came to a halt for a while. jeff: always want to show yould.
12:39 pm
what is really happening on the ground here in the real world. perhaps you can see progress. fascinating to see this. stay tuned. the next few hours we will see the end of this. there goes the chimney. yeah, baby. cheryl: i am loving this. do they have to do a chemical survey? jeff: they have already done that. out. have already put that stuff this is some of the recycling. they recycle all of this stuff. this is a lot of the metal that comes out of here. these villages are very careful about that. they do not want any kind of environmental damage. now, the permits are happening again. it is a really great thing to see.
12:40 pm
cheryl: i hate to say goodbye. jeff, thank you very much. cheryl: you are having a bad day, you just go there and get in a bulldozer and knock it all to pieces. dennis: do you think that intelligence weeks are a problem to security? erika says, i disagree with msa actions, but snowden looked behind the curtains. his burden now is responsible. cheryl: we will have more of your answers coming up later on in the hour. keep tweeting us. let's show you some live pictures from san francisco. the apple developers conference. starting at the top of the hour.
12:41 pm
iradio. maybe a new ipad. we will go out to robert gray. double logo
12:42 pm
,. ♪ >> i have your fox business brief. more than $1 billion. the deal is expected to strengthen after the portfolio
12:43 pm
as it steps up a drive to restock its product pipeline. shares are tumbling after the battery maker filed for chapter 11. the company attributes of filing to a combination of things. safety regulators are investigating minivans because there airbags inflate without a crash. minivans -- that is the latest from the fox business network. giving you the power to prosper. ♪
12:44 pm
cheryl: for americans are embracing tablet computers. 44% now own tablet computers. that is up from 30% just a year
12:45 pm
ago. robert gray is outside the event in san francisco with all of the speculation. this is the most fun part of the whole conference. >> absolutely. the waiting is the hardest part. you are seeing the last in line. these folks -- we will see it started off in 15 minutes. there is lots of speculation. we will almost surely hear about the new operating system. cheryl: are we expecting to see tim cook?
12:46 pm
>> they would not confirm exactly whether he would be the keynote or not. we are expecting that. look for a redesign on the operating system. cheryl: i know that we need to let you go so you can get inside. we are looking forward to your reporting. robert gray out in san francisco. thank you very much. dennis: i want to see what they do with that internet music streaming service. you can go to itunes and buy a song, but what like a playlist like pandora. dennis: that is the company most directly affected.
12:47 pm
it is down almost 2%, even as we speak. >> pandora is so established. dennis: it is natural. billions of songs already purchased from itunes. it is an easy move. it is a little late for them to get into this. we have stocks now and every 15 minutes. the dow has been really volatile this month. where do you think we are going from here? >> it has been an amazing amount of volatility. triple digit gains back and forth. the first five months of this year, we only saw four total days. you know, it still looks like we can push a little bit higher. the dow has been up over 400 points now.
12:48 pm
a couple things of interest. treasury yields now, you look at a tape back over 2%. there is a little bit of weakness. the dollar is already starting to show real positive correlation. over the last ten years, that was actually negative. it reminds a lot of people of the mid- 90s. stocks are moving higher. those are a couple of things to watch. dennis: nicely summarized. thank you. >> my pleasure. cheryl: time for your west coast minute. controversy in san francisco. door theory dogger is still getting paid. she remained on the payroll and additional 19 months.
12:49 pm
therefore cause she boosted her pension benefits for life by about $1000 extra a month. we will keep him out for you. speaking of the bay area, companies about to buy for upwards of $1 billion. we will take a look at google stock. it is up $8.22. that is a gain of almost 1%. if you are going to have a heart attack, seattle is a place to have it. 85% maintained good neurological attention. the rate has doubled in the seattle area since 2002.
12:50 pm
that is your west coast minute. dennis: still time to get in on our dinner talk question of the day. cheryl: tweet us your answer. we will read your answers next. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? if your bank doesn't let you talka real person 24/7, you need an ally. hello? ally bank. you need an ally. your money needs an ly.
12:51 pm
12:52 pm
12:53 pm
dennis: media minute time. critics hated it. the purge won the weekend box office taking in $36.4 billion. twelve times as much money as the entire film cost to make.
12:54 pm
a new study breaks down how many minutes we spend on various screens act committees. forty-two hours a week on screens. we now spend almost four hours 40 minutes a day watching live tv. dvr viewing is up 60% in four years. of almost half a percent on average. doing dvds was -- last night tony award drew viewers. cindy loppers kinky boots winning best musical. sales must be soaring. maybe cheryl will buy some. cheryl: did you see the opening of the tony's?
12:55 pm
neil patrick harris was amazing. it was a great broadcast last night. dennis: i did not see it. we asked you this, what to think about intelligence leaks. are they a threat to national security? it is critical to saving critical liberties. it is a thin line between a threat and national security. you have to use judgment. people kind of being honest today. dennis: i feel like the bad guys already knew that this was going on. cheryl: we are just moments away from apples developer conference. we will have all the breaking
12:56 pm
news. dennis: bald doll on why he thinks the markets are just taking a quick breather. cheryl: deloitte ceo live at the white house. ♪ i get one view of my bank and brokerage accounts with one login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i n't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine.
12:57 pm
12:58 pm
12:59 pm
>> so we heard one guest talk about a new tandem of stocks and bonds going in the same direction. we have a new tandem to talk about. >> we want to welcome adam shapiro and lori rothman anchoring for now on the 1:00 p.m. eastern hour. adam: thank you very much. then where i have been since day one. lori: a brand-new hour. adam: apple's worldwide developers conference kicking off in san francisco. the big reveal at the iphones maker event.
1:00 pm
lori: the u.s. credit rating upgraded. the s&p with the long-term outlook for the u.s. bob dole on which sectors he is setting on for further gains. adam: m&a activity monday. $1.4 billion deal for carfax operator. lori: warren buffett worth one third less? what is the oracle of omaha feeling less profitable. adam: he is still worth billions. lori: you do want to stick around for this story. this hour on the floor of the new york stock exchange. 15, 16 points on the dow. nicole: the fear index is higher, you heard them talking about what we have been seeing which is a stronger dollar and a stronger market. now you can see the market is mixed at the moment


info Stream Only

Uploaded by TV Archive on