Skip to main content

tv   Markets Now  FOX Business  September 28, 2012 11:00am-1:00pm EDT

11:00 am
john thain denies it the gullible reporter or not. he wants to sell cit, and this is why you watched fox business because they giv we give you tht up-to-date stories. there's not that he is trying to sell or that he wants to sell, but that he cannot sell it right now. he has a huge problem on his hands. very difficult for cit to grow organically and by acquisition because it is on the fed watch list. still fell into bankruptcy, never paid back the government essentially stiffed the taxpayers. john thain came in afterwards and ran it. since then he is trying to rebuild it. doing a fairly decent job, but he can't really grow it because they're on this watch list. apparently he cannot sell it. all the banks he wanted to sell to, the u.s. banks, the big
11:01 am
banks woul which you want to uss the ability to get in and run one of these institutions, they cannot write it because the bank regulators don't want these too big to fail banks to get even bigger and more systemically important and risky. that is one of the problems he has right now. right now he has a problem with selling it. citigroup cannot buy it right now. basically sold by regulators. that is the problem he has. and what kind of record this gentleman has. think about how he leads the market. back in 2008 i remember several times went out and said head of
11:02 am
merrill lynch that did not need new capital. you don't actively say one thing when the opposite is real. it was funny, when h what he woy that they would raise more capital, sell their stake, do other things to raise capital. bank of america buys it, they approve a deal, merrill lynch discloses, that is what this lawsuit is related to, or $15 billion loss the shareholders didn't know about. they approve a deal, the stock is cratered, guess what john thain does in the middle of that. tries to get a $10 million bonus essentially funneling taxpayer money.
11:03 am
they needed to bail out of bank of america after those losses became disclosed using the taxpayer money and put it in there. trying to explain just trying to see how much i could push regulators in a post-bailout environments to do something like that. it really is absurd stuff. the latest is his trying to dispel the notion. you are an investor, think about it. it does not want to look desperate in this market. they see blood in the market and he can never sell for the premium he is seeking. i would take everything, but to our viewers, take what john thain says with a grain of salt. he is never right in the past. dagen: what about the possibility mentioned of how the banks are out of the picture in
11:04 am
terms, do you think it ended up getting sold it would end up in the private hands? >> i don't know. people talk about canadian banks. another reason the canadian banks are in good shape is because the regulators are little tougher, but we should point out they are smaller. i don't know if they're regulators will allow a purchase. not an insignificant firm right now. people say which was sold for at least $10 billion, but you have to assume it has debts. it could be a fairly substantial sale. that is big enough to hit the radar screen of a lot of regulators. the uk regulators following the scandal, i don't think alike the universal model. they're not looking to buy u.s. risks so to speak.
11:05 am
that is why he is coming out right now. that was yesterday's story. try to come back from three days ago, two days ago. dagen: charlie gasparino. connell: down a little bit today to talk about the presidential election into detail including some new polling. but the prime minister taking center stage and he called for a clear red line on iran's nuclear program, take a listen. >> lady an lady and gentleman, e relevant question is not when iran will get the bomb, the relevant question is at what stage can we know longer stop iran from getting the bomb. the redline must be drawn on iran's nuclear enrichment program because these enrichment facilities are the only nuclear institutions that we can definitely see an incredibly
11:06 am
target. connell: we're joined by israel's former ambassador to the united nations. thank you for coming in, we appreciate it. the redline comments that prime minister benjamin netanyahu just articulated, it appears that he pulled back a little bit from the imminent threat dialogue that have been taking place before that and push off this threat maybe next summer as opposed to the next few months. i bring that up because all this is happening in the midst of our own presidential election, what did you make of it yesterday? >> i'm here with the prime minister, and i think he drilled the message home in a very clear way. probably the most accurate way as far as they're concerned, and also made people understand where iran is, how imminent danger it is, how this may be. i think that pointing out there is still this, given the
11:07 am
international community and the president of the united states, whoever it may be after november, a second chance, possibly a very clear timetable saying time is running out, our clocks are ticking. israel's clock is ticking much faster. we feel very threatened. the president of iran talking the day before, basically pledged to wipe israel off the face of the map. we have threatens civilization as we know it was certain civilizations threatened as well, so what the prime minister tried to make clear was he will not allow iran to acquire nuclear weapons, but he expects international community led by the united states to do it rather than have israel do it.
11:08 am
connell: does that take the possibility of an israeli military strike against iranian nuclear institutions, whatever they may be, does it take it off the table before the end of the year or before the u.s. presidential election? >> i think it does. whabut he has basically said wae are allowing you more time to try and use diplomacy, to try and use of sanctions. we expect you to act. i think it creates more certainty, and in fact i think the redline were the prime minister drew very visual yesterday could eventually, when things crystallize, create lots of green screens when you report the market whenever that happens. connell: why do you say that? >> last few weeks or the last month we have worked with a lot
11:09 am
of uncertainty and apprehension about this happening any day now. and the market don't like it. i think now there is at least six months for everybody to take stock and get ready for it, but i also think contrary to what many believe, if iran is dealt with, that too will eventually lead to the green screen because the main perpetrator, financier of terror around the world, bc libya, syria, our region, other places, once iran is taken care of, we will be living in a much better world and that will be good for business. connell: the market is down. one final question before we let you go, how much do you think from what you know of all the parties involved, how much our personal relationships between netanyahu, president obama,
11:10 am
netanyahu, mitt romney, how much is that playing into what we'ree hearing about this and other issues? >> i don't think what the prime minister did yesterday had any, but i think people seem to discard the importance of personal relations. in a politics and international relations or even national affairs, not love affairs and not all about rumors. at the same time personal relations come and all you have to do to have this brought home to you is remember the very bad relations between president roosevelt in the second world war, a very great extent america's decision to enter the war, to help the united kingdom because of the disdain and distrust between those two leaders. i believe personal relationships to count and i hope whoever the next resident i
11:11 am
is, relations between him and the prime minister of israel will be as they always were. warm, trustful, genuine and ones of great strategic alliance. connell: thank you very much for coming into the studio today. appreciate it. thanks. dagen: vast majority of americans believe everyone should pay some federal income tax, but is a fix for that a sure loser on the campaign trail? connell: how about this for those of you watching the market, don't buy gold, why that might be the case. u.s. gold. first, let's take a look at the oil market. we will be right back with more "markets now." we asked over 3,000 doctors to review 5-hour energy
11:12 am
11:13 am
11:14 am
and what they said is amazing. over 73 percent who reviewed 5-hour energy said they would recommend
11:15 am
a low calorie energy supplement to their healthy patients who use energy supplements. seventy-three percent. 5-hour energy has four calories and it's used over nine million times a week. is 5-hour energy right for you? ask your doctor. we already asked 3,000. dagen: a quarter past the hour. or almost. every 15 minutes, stocks now, apologizing today, i love this story. nicole: tim cook and the apple team doing a big "i'm sorry." what you're seeing is apple stock reflecting the frustration of users with the new maps and
11:16 am
their own software they promised they are working to develop better. but in their own maps, that has been the one bonus with the new apple iphone 5. right now $6.72. nowhere near 705. doing whatever they can to make it better. more users, the better it will become. connell: thank you for that. some breaking news coming in from washington, d.c., the federal reserve release new information on the traffic discount window. going back to third quarter 2010. look at these numbers when they come out because yo you'll find something you didn't know about that explains the way things are or jus gives an idea about the s or whatever the case may be. rich edson, the information just came out, had a chance to look it over, what have we done?
11:17 am
>> this is the first time we've gotten this information have not had to go to court for it. the release from the fed under the freedom of information act and found tens of billions of dollars in revolving credit, many of them to foreign banks. this time talking third-quarter, mandated by the dodd-frank law, the senate will keep doing this for now on. first time they have done so. third quarter of 2010, july 22, it really is returned to normalcy, so to speak at the discount window. the biggest transaction is not tens of billions of dollars anymore, really the worst being $70 million transaction on august 6, 2010. some other banks in the tens of millions of dollars, but that is about it. the discount window giving a return to normalcy.
11:18 am
connell: rich edson therefore imac therefore us in washington, d.c. i told him, never mind. dagen: an inside thing between you two dorks. the latest fox news poll showing president obama leading republican nominee mitt romney, but who do americans trust to better manage their taxes? connell: and already guaranteed a recession. says you have to buy gold. wait a minute, faber coming up. and look at the currencies everywhere against the dollar, we will be right back on "markets now." look, if you have copd like me,
11:19 am
11:20 am
you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. 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 passing urine. other side effects include dry mouth and constipation.
11:21 am
nothing can reverse copd spiriva helps me breathe better. (blowing sou) ask your doctor about spiriva.
11:22 am
>> 23 minutes past the hour, this is your fox news minute. officials say the body of missing northwesteramissing nory student has been found near the school's campus outside of chicago. 18-year-old was last seen leaving a party over the
11:23 am
weekend. police do not suspect foul play. the man behind the anti-islam film sparking protest around the world is behind bars for violating his probation. officials say is part of his release from prison for bank fraud, he was told he cannot use an alias or access the internet without the permission of his probation officer. and the mars rover has made another groundbreaking discovery on the red planet. the rover has found evidence a stream once ran rampant around the planet. those are your headlines on the fox business network. now back to dagen and connell. connell: thanks. dagen: thank you. connell: latest fox news poll for the race between president obama and mitt romney.
11:24 am
president obama up five, and another part of that poll shows the vast majority of americans believe everyone should pay some sort of the federal income tax. dagen: isn't there some disconnect between these two poles? forced to explain this. there is a disconnect because if mitt romney is in part running on the 47% comments and everybody needs to share in the burden that the president is leading, there is a disconnect. >> part of it has to do with the way mitt romney segues in an part of it has to do with how the electorate sees mitt romney. bottom line, the way governor romney praised his concern of those who don't pay income tax it is a needlessly divisive comment that forgot the fact
11:25 am
many low income people pay social security and payroll taxes and are contributing. it was unfortunate statement that hurt them in the polls recently. there is an argument, think your comments were going in this direction, if you said i want everybody to pay lower rates for all, eliminate deductions, but have a fair tax 20, 23%, that is a very good argument and people would buy it. dagen: if you pay no federal income tax you don't pay a penny for the federal defense. you do not pay a dime to men and women risking their lives to protect our freedom and i think there are plenty of good arguments being made to rationalize the tax code making everybody pay at least a tiny bit of money. >> for their own reasons divided the country.
11:26 am
dagen: we have been talking about that. go ahead. connell: your profession has come under attack. what is going on? what is going on right now? >> obama is ahead, that much is clear. many oversampling democrats, part of that is potentially bad polling but some of it is also people when they're voting for a candidate can't identify with that candidates party. there is also, i believe, a reservoir of people who don't like governor romney and don't like president obama and ultimately will come back and support governor romney suggesting the fox news poll is probably right. dagen: some people on the right, some people who back mitt romney are upset even if the polling is
11:27 am
skewed some more than others, but is it detrimental to voters if they see these polls and they think mr. obama is gaining steam, does it drive potential voters away? >> there is bad polling, overly optimistic polling, but there's a mainstream media narrative that the election is over, governor romney has lost in the swing stays are close to double-digit. but it doesn't help our democratic system especially when they have the race somewhat closer than cnbc does. i looked at them, that is my vision. the only way to change the dynamic. dagen: is the time? >> there is time, but it is running out quickly.
11:28 am
connell: don't keep it here, that is what dr. marc faber will be saying when he comes on in a few minutes. dagen: and amazon getting into that business, we will have details coming up. here are some of the winners on the s&p 500. tdd#: 1-800-345-2550 when i'm trading, i'm so into it,
11:29 am
11:30 am
tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that kind of focus... tdd#: 1-800-345-2550 that's what i have when i trade. tdd#: 1-800-345-2550
11:31 am
tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 ...helps me keep an eye on what's really important to me. tdd#: 1-800-345-2550 it's packed with tools that help me work my strategies, tdd#: 1-800-345-2550 spot patterns and find opportunities more easily. tdd#: 1-800-345-2550 then, when i'm ready... act decisively. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 with the exact same tools, the exact same way. tdd#: 1-800-345-2550 and the reality is, with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime... tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 ...until i choose to focus on something else. tdd#: 1-800-345-2550 trade at schwab for $8.95 a trade. tdd#: 1-800-345-2550 open an account and trade tdd#: 1-800-345-2550 up to 6 months commission-free online equity trading tdd#: 1-800-345-2550 with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-800-653-0240 tdd#: 1-800-345-2550 and a trading specialist tdd#: 1-800-345-2550 will help you get started today. connell: technical a acid every5 minutes for stocks now. bank of america, how is the stock doing?
11:32 am
nicole: here is bank of america down $0.13, obviously shareholders have been fighting with bank of america ever since the merger with merrill lynch and all the costs that came with that. now they have settled, the largest ever amount paid to shareholders under a law for this kind of misleading statements in connection with a merger. $2.43 billion. bank of america had a couple of takeovers and mergers we're talking about. another one that came under a lot of scrutiny. take a look at this one, coming up off of the lows of the day, but we have seen some red on the screen for the dow, nasdaq will continue. that is what we're looking at this friday afternoon. back to you. dagen: europe's market closing right now, and less than half an hour from now ashley webster, we
11:33 am
will get the stress test results on the spanish banks. >> and moody's doing a review, so lots to move the market for the european market losing ground today as investors wait to hear the stress test on the spanish banks being held back until after the close, so we should know very soon. here are the numbers going into the weekend really into the weekend up half a percent, in germany down close to 1%. spain's 10-year government bond creeping above 6% just one day after the government unveiled the 2013 budget, a spending plan called for increased spending cuts but not taxes. it could set the scene for spain to formally ask for a full-blown bailout. conditions coming under fire from italian prime minister who says conditions not be imposed and the imf shouldn't have an
11:34 am
oversight role. conditions of making countries like italy and spain very reluctant to ask for help. the french president touting his 2013 spending plans today calling it a fighting budget helping growth, and includes 75% tax on those earning over a million euro, 45% tax on people earning 150,000 euro. critics are saying this sends a message france does not like the rich, is not open for business. it should be pointed out it is purely symbolic 75% tax rate because anybody with that kind of money affected already has their money out of the country. connell: some breaking news, coming out of the deutsche bank offices in germany evacuated because of a suspicious package found in the country, deutsche bank office evacuated.
11:35 am
we will follow that if anything develops but our next guest should have interesting things to say about these developments with dr. doom, the u.s. 100% chance of entering another recession, and also says owen gold, just don't keep it here. marc faber joins us. he is on the phone today from thailand. pick up on that if you can about gold in your thoughts. >> it has a huge rally from around the low. we are now over 1700, think we need the correction here. in fact, i am now. pretty much all assets near term. we're entering a correction time where there will be the stock
11:36 am
market can easily drop 20%. connell: i want you to expand upon it a little bit, what is the near term, and how does this develop and when does that change? obviously not just sitting in cash. >> i'm not 100% in cash, but in general people that have heavy exposure, that equity for gold or other commodities i think they will have some profit taking here. connell: and 100% chance the u.s. enters another recession. in issuing the question of timing and how that develops, what do you say?
11:37 am
>> some people in the u.s. already said the u.s. is in recession. because we have to consider the following, and economy is a very large vessel, the different sector and some sectors are improving like housing in the u.s. is improving. the problem with improvements in housing is stocks have already gone up substantially more than tripled from their low. the greek stock market up more than 60%. connell: would like that you call in on a friday. thank you. marc faber. >> it is my pleasure. bye-bye. dagen: talking about everyday
11:38 am
cars going faster and faster and more and more powerful. you think i would be the one asking that question? it depends on who is driving it. dagen: amazoconnell: amazon wite wine business. we'll look at one asset class, and that would be 10-year treasury note, 1.6% today. here is your yield.
11:39 am
11:40 am
>> i'm lori rothman with your "fox business minute." consumers are not as optimistic as we did earlier. the final rating for the university of michigan index was revised lower following shy expectations. americans driven to open their wallets more in august by higher gas prices. personal spending rose one half a percent mark in the biggest jump since february. wages grew slowly which means you had to dip into your savin savings. t-mobile's on the rights roughly 7200 cell towers. crown capital will have exclusive rights to lease and operate those towers for 28 years. dow down 88 points right now. the latest look from the fox business network giving you the power to prosper. want to try to crack it? yeah, that's the way to do it!
11:41 am
now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of, you can spend more time sharing your passions. wow. [ giggles ] [ male announcer ] with the people who matter most. i love you grandpa! i love you grandma! now you're a real fishman.
11:42 am
[ male announcer ] humana. dagen: if you have a need to go real fast, you're in luck. more cars are hitting the road, american cars that are blowing the doors off of the barn. talking 2013 ford mustang over 200 miles per hour. gary, what is going on? you can talk about this one, but it seems like some of the cars american makers are coming up with are more powerful and go much faster than something that even seen in recent years. >> more than what you have seen the topline. really incredible. had they become more efficient with fuel efficiency, you can
11:43 am
get more power out of them. they had 88-horsepower mustang, so as you become more efficient -- dagen: he admitted he drove that. that was the ford borough as we would call it. >> i'm probably alive today because i had that car at 17. dagen: recently did a review. do these cars sell a great number? i see a lot of people driving cars around and they are not great drivers, too much horsepower and too much speed in these cars for the ability of the will behind the wheel. >> the rain, not the best car in the world, but not like the old supercars of the old days.
11:44 am
a very advanced active suspension system and kind of comfortable driving around the city, can handle itself very well. you can adjust the suspension and make a little bit softer around town. i think of the older models as they came out in recent years and it was fast, but a little chunky. >> muscle cars like this used to be about strength. it goes zero to 60 in three and halanda half seconds from first. it is insane that will handle well on the road and racetrack as well. dagen: do you think these are halo cars that they helped shine up the brand a little bit and people start associating with speed and power and performance back with gm, ford and dodge?
11:45 am
>> absolutely. these still do very well. they brought the 580-horsepower camaro the l.a. auto show last year. ford showed up, this has 662, you could see the people on chevy were like how did this happen? dagen: good to see you, next time you do a drive, take me. nicole at the nyse looking at another winning month for the dow. nicole: you could say that, worth noting, 13,090 in august, so these levels 13,400, we have seen a gain. i want to look at the week over week, some losers on the dow jones industrials.
11:46 am
the dollar is stronger which has pressure from the multinational, mcdonald's got a downgrade and caterpillar one of those names this week that cut their outlook. also a look at nike, the quarterly numbers talk about slower growth in china, nike coming under some pressure. the dow, nasdaq and s&p, where are they? down over half a percent. connell: thank you. talking about prescription drugs. the fda has a big warning for you if you buy them on the internet. coming up. back to the market, some of the winners on a down day over at the nasdaq. [ female announcer ] the power to become a better investor has gone mobile.
11:47 am
11:48 am
with features like scanning a barcode to get detailed stock quotes to voice recognition. e-trade leads the way in wherever, whenever investing. download the ultimate in mobile investing apps, free, at e-trade.
11:49 am
11:50 am
connell: let's get to that amazon story, uncorking wine sales. this could be big, looking to get into the wine business and do it quite soon. and something together alliance of wineries. sometime in the next month they pay about $40 monthly fee, 50% %
11:51 am
of the sales to amazon which is a reason they would be broken down. not the first time they have thought about getting the wine business. three years ago it abandoned such plans, but this time around looks like it might move forward. down $2.52. dagen: the food and drug administration warning the public about fraudulent internet policies. the agency conducted a survey revealing nearly one in four internet shoppers have bought prescription drugs online. this is alarming because most do not realize only about 3% of online pharmacies are licensed and following the law. in response from the fda has launched a national campaign to alert the public to the danger. buying your drugs online is not fine. connell: corn prices, usda with
11:52 am
an unexpected drop in corn supply. dagen: sanderson has today's "the trade." >> you guys are coming down to the floor of the chicago mercantile exchange at a very opportune time. as i talked to todd, i wonder if you can shift to corn feed a little bit behind me because this is where the action is at. corn prices limit up. if you see that happen in the stock market, that is crazy, that is happening right now. >> we had bullish news this morning caught everybody a little bit short, a tremendous sell off since the august highs, and the low sevens, so now we're getting a spring back rally. some of the guys got caught short. >> what does this mean for food prices?
11:53 am
this is historic. >> emad of product that goes into a box of cereal is very minimal. it will create a little hysteria at the checkout lines for the real actual price is not that big of deal. we are nowhere out of line and it should not create a dramatic race. >> these stocks move on days like this, the big question, as we have seen prices come off the record highs, here we are, the rally is coming back, what do you do? >> i am looking to short the market, the action is monday and tuesday, once become off limits i will look for a good level to sell. >> says to sell the rally because it is still limit up.
11:54 am
a dramatic day on the floor. i have to remind everybody 10, 15 years ago car prices were $2, $2.50 per bushel. it is a crazy time for the market. connell: whitmire your enthusiasm. sandra smith in chicago. you can hear that place going nuts. a couple of quick notes, nfl regular officials back to work, that is the big thing everybody is talking about at the game last night after they struck a tentative deal with the league ending the lockout, they get a standing ovation, they think they are rock stars. it will not last very long but it was a big deal, winning the game 23-16 over the browns. this is actually a funny story, reports say the nba overall
11:55 am
flopping by the players, basketball players pretend they're playing soccer now work on finalizing procedures to trick the referees into calling fouls even though nobody hits them. soccer is ridiculous. the thing they're thinking about is a procedure that would probably be a postgame review of the play by the league office rather than calling it during the game. taking a flop. connell: all right. dagen: forget the fed. connell: dennis and cheryl will talk to the former u.s. ambassador john bolton about all of this.
11:56 am
the call with the israeli prime minister today, big speech yesterday, lots going on here and overseas. "markets now" continues in a moment. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence. so when the conversation turns to your financial goals... turn to us. if you need anything else, let me know. [ female announcer ] wells fargo. together we'll go far.
11:57 am
>> announceryou never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost my credit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells
11:58 am
you after the fact, sometimes as much as 30 days later. with lifelock, as soon as our network spots a threat to your identity, you'll get a proactive risk alert, protecting you before you become a victim. >> identity theft was a huge, huge problem for me and it's gone away because of lifelock. >> announcer: while no one can stop all identity theft, if criminals do steal your information, lifelock will help fix it, with our $1 million service guarantee. don't wait until you become the next victim. you have so much to protect and nothing to lose when you call lifelock now to get two full months of identity theft protection risk free. that's right, 60 days risk-free. use promo code: gethelp. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 llar value, free. get protected now. call the number on your screen or go to to try lifelock protection risk free for a full 60 days. use promo code: gethelp.
11:59 am
plus get this document shredder free-- but only if you act right now. call the number on your screen now! cheryl: i am cheryl casone. dennis: i am dennis kneale. the impending fiscal cliff. the biggest near-term threat to the global economy. we have an economist who says washington better fix it or else. cheryl: israel's prime minister draws a red line to stop iran but his timing has changed. former ambassador john bolton is here. dennis: apple and ceo writing a letter apologizing for a rare slip up. tim cook is extremely sorry. nicole petallides is dodging a
12:00 pm
parasol on the stock exchange. nicole: we are seeing the dow down 70 points. nasdaq and the s&p also lower. we are posting an up arrow but a majority of the dow components are coming under pressure on a day when the dollar is strong and commodities are selling off as well. i want to look at one mover who hit a 52 week high but has sold off since earlier and that is walgreen's. they came of the fourth quarter numbers earning 55% and made a mix of what they have been facing and pharmacy manager benefits company. that caused millions of its prescriptions to go elsewhere and they're coming back and they're seeing customers coming back doing particularly well with this loyalty program that people are getting with these rewards and people are signing up. i go to joined reid and look
12:01 pm
what i got. [talking over each other] cheryl: i was confused when i got my card. is working anyway. thank you very much. if you live in new york -- israeli prime minister benjamin netanyahu warning the united nations that iran is close to producing a nuclear bomb and the international community needs to go when to say when. >> these are the facts. if these are the facts, and they are, where should a red line be drawn? a red line should be drawn right here. before. before iran completes the second stage of nuclear enrichment necessary to make a bomb. cheryl: despite the perceived imminent threat from iran benjamin netanyahu suggest action can wait as late as next spring after the u.s. election.
12:02 pm
joining me with the romney campaign's john bolton. what do you make of the fact that he seems to be backing off on the timing? they think he is going to get four more years of president obama? >> he sent a slight signal but an important one to the president that there will not be an attack before the election and a signal to governor romney that there won't be an attack before inauguration day on january 20th next year but it is not a huge shift. if you take spring as beginning at the vernal equinoxes that is not much beyond what it was talking about before. cheryl: do you think they're serious about a strike against iran? we have heard these threats years. the rhetoric has stepped up a little bit especially with the red line that egypt drew. these think it is possible? >> twice before in its history israel has struck adversaries
12:03 pm
with nuclear-weapons the precedent is there. israel would prefer to have the united states do it because our capabilities and greater but they recognize under obama up until the election or if he wins a second term it won't happen and that is why -- cheryl: can we expect any policy shifts between now and the election? the middle east has become a ticking time bomb for all of the countries in the region. not just iran. for israel the palestinians or libyan this. does anything change out of washington? >> not in the united states although events in the region are moving very rapidly. [talking over each other] >> i don't think it will happen before the election. the president has his game plan. he indicated in this famous comment about bumps in the road
12:04 pm
losing americans killed in libya and the riots sweeping of the region he is not going to pay attention. he wants to get past november 6th. cheryl: is susan rice going to make it past november? more talk about her being the next secretary of state. because of what has been supported by the administration did know that was a terrorist attack. >> she needs to explain that. my theory is she was told by the white house congratulations you have drawn the short straw and you are going on a sunday talk shows. otherwise i can't explain why hillary clinton was and they guessed that sunday. she is secretary of state and has the responsibility and yet she was completely invisible. cheryl: a big question here. if it wasn't susan rice as secretary of state who would be? >> i am not sure there are any good candidate in obama's administration but the next most likely candidate is john kerry of the senate foreign relations committee. obama knows him from his time in the senate.
12:05 pm
he thought he would get it before hillary and it is likely to be one of those two. cheryl: before i let you go, syria. the situation continues to head downhill. will we get any more involvement? the russians are very involved. >> the russians are propping up the assad regime and are prepared to shed a lot of blood before it goes down. i don't think the president will do anything before november 6th. the rebels are having some success in the past weeks while we have been otherwise occupied the best prescription i have is more fighting and more killing as far as the eye can see. cheryl: thank you very much. great to have you this week. thank you. dennis: the fiscal cliff is the biggest near-term threat to the global economy. so says fitch ratings in a new report. our next guest believes the fiscal cliff will hurt the u.s. economy the rest of the year. jeremy lawson is senior economist. i am sorry to be naive but can i
12:06 pm
just hope that because of the consequences of the fiscal cliff are so bad, they are just going to fix it? >> they may fix it by the end of the year. in the next few months, exactly what will happen. no confidence about tax rates next year and how regulatory policy is going to look next year. this involved increasing capital spending. it is what we see pulling back on the capital expenditure plan and the economy starting to suffer. dennis: fitch in the report to they argue the cliff goes over the cliff, gdp growth in 2013 gets cut in half. does that mean government spending is going to be responsible for half of our gdp growth? >> if you think of the size of the fiscal cliff the timing of fiscal policy next year would be 4% of gdp.
12:07 pm
if everything is legislated to occur actually occurs. if you apply a relatively small multiplier to that, it would reduce growth by 2%. at the moment, probably only growing 1% to 2%. that is enough to generate a recession. at the moment, not directly contributing to growth but if you cut back on spending aggressively particularly if you raise taxes most of the fiscal cliff is tax increases they need to see a slot in growth next year. dennis: which is the bigger bad impact on the economy that -- tax increases or government spending cuts? is that why spending cuts are a good thing? >> depends on how it occurs. in the long term it is necessary for the u.s. to get spending under control. the question is how quickly do you make that progress? what you want to do is make
12:08 pm
moderate progress so fiscal policy is on a more sustainable flooding. you have a sharp correction in a single year. next year the big issue is taxes. you get 3% of gdp and tightening of fiscal policy from the tax increases to occur and that would be bad for the economy. dennis: do you think consumers that the consumer level that the fiscal cliff stuff takes away their confidence or do you think consumers are thinking about their own paycheck and whether their neighbor next door is getting fired? >> at the moment it is not waiting on consumers as much as it is on businesses. we see consumer confidence and consumer spending still progressing not predicate of the rapidly but still increasing. may be as we get closer to the end of the year and it looks like you might be facing a significant increase in taxes you could see a sharp correction. we hope congress can do a deal. dennis: thank you very much.
12:09 pm
appreciate it and love your accent. cheryl: guess who owes the treasury department $14 million in unpaid employment taxes? other federal agencies. the irs needs to take a closer look at the federal government and search for tax problems. treasury department watchdog office says 70 federal agencies and $14 million in unpaid social security and medicare taxes at the end of last year. the offending agencies were not identified but we would like to see them identified. would make a great story to follow. dennis: makes you cranky but members of the government overspending its budget by $1.1 trillion more than it will take in, $14 million -- [talking over each other] dennis: just going to require more budget money from taxpayers to pay the irs. how about give tax amnesty.
12:10 pm
we will tell you about the retail titan on the web and delivers it to your door. cheryl: we are going to tell you why apple's ceo tim cook is apologizing to customers after a rare stumble by the company. [ engine revving ]
12:11 pm
12:12 pm
♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay ale... but feel alive. the new c class is no exception. it's a mercedes-benz through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services.
12:13 pm
12:14 pm
cheryl: breaking news in the markets. you have seen markets come back a little bit. spanish banks stress test results showing things are not as a bad as some had thought. we were talking about bailout and nicole petallides standing by at the stock exchange. nicole: you look at the capital they have been looking at stress tests more closely we are finding it is not as bad as it could have been and the markets have come off of earlier lows down 44 points at this time. when you look at the spanish fed banks stress test results seven banks have capital and seven do not and that is better than expected. we have seen the dollar coming off of its highs and the euro gained some momentum and the dow jones industrials coming off of the lows like the s&p 500 as well down 1/3%. looking at mcdonald's and yum
12:15 pm
brands. you have too strong of a dollar with multinational companies that something to look at both mcdonald's and yum brands. some of the same store sales numbers and coming in weaker than they thought year over year and september somewhat weak and growth concerns in china. dennis: thank you very much. cheryl: time to make money with charles payne. he joins us to talk about gdp, gross domestic product and its implications. charles: we got the numbers yesterday and they were woeful but digging into the numbers is even more woeful. spanish stress test to me is a joke. the whole thing is a farce. $100 billion bailout and power in the fairbanks. [talking over each other] charles: i am glad the market likes it. cheryl: using spain needs a bailout. you think the banks and spain
12:16 pm
the country will go to the euro zone. charles: they are on the austerity budget yesterday and $100 billion for banks that novel idea they will get more for the people. talk about bank profits. yesterday's gdp numbers. domestic corporate results for domestic financials down $39 billion this quarter and down $12 billion first quarter. everyone talking about how banks of the well and the banking bailout worked. i don't think so. bank of america said they will laugh 16,000 people. this points to scary stuff u.s. banks. here is the other thing that is interesting. money that these corporations are generating is absolutely phenomenal. it is a legitimate reason our stock market is up. $33 billion second quarter. $40 billion first quarter compared to $7 billion in this country. amazing growth. i think the administration will go after that in a second term and that is why corporate america will sit on money and not put it to work.
12:17 pm
cheryl: speaking of corporate america stick around. wants to get your reaction. dennis: we are going to talk about apple's jimmy swaggart style apology. the ceo says he is extremely sorry. we will hear it. extremely sorry. this is from a company that rarely apologizes for anything. he sent that letter to customers for the i phone 5 apologizing for frustration caused by apple's google maps in favor of its. riddled maping software and he writes at apple we strive to make world-class products and give the best experience possible to our customers. with the launch of our new maps last week we fell short on this commitment. we have sinned against you. he says we are sorry for the frustrations this has caused our customers and we are doing everything we can to make maps better. i think what they can do is bring back google maps but they don't plan on that. cheryl: if you want to get an
12:18 pm
apps go to being. [talking over each other] charles: another thing. to your analogy, in the apple universe steve jobs was god and tim cook says i can't be him. maybe i can be a preacher and take a more humble approach to this. he doesn't have the swagger. he has to take the jimmy swaggart approach. [talking over each other] charles: it is a dent in charles: it is a dent in the armor. [talking over each other] [talking over each other] >> free speech advocates crying foul as the maker of that anti muslim film jailed in california. dennis: happy birthday gift from facebook. the first major foray into retail sales online. we will look at how global currencies are faring. the dollar would be up.
12:19 pm
♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade.
12:20 pm
12:21 pm
12:22 pm
>> 23 past the hour your fox news minute. a man behind the anti islamic video that sparked deadly protests in the middle east is
12:23 pm
behind bars in los angeles. he told a judge his remain as martin yusef. he was convicted of check fraud violation. he was a flight risk. following a protest against austerity measures in spain and greece marchers took to the streets in italy causing the closure of the area. two large unions led a march of 30,000 people that clogged streets and snarled traffic during morning rush hour and the real nfl referees went back last night now that the lock over is over. the officials returns to the field for the game between the baltimore ravens and the cleveland browns and were greeted by a standing ovation from plans -- fans. cheryl: halfway through the game they went back to yelling but that is another story. thank you very much. the federal reserve making its first data dumped on discount
12:24 pm
window rending under dodd-frank. rich edson joining us with details. what does it show? rich: a financial crisis no longer in freefall or no longer a full-blown crisis. fox went to court and last year won the right to detail emergency discount loans showing tens of billions of dollars in overnight lending to european banks. the dodd-frank losses the federal reserve has to provide that information and for the first time under the law it has covering the discount window in the third quarter of 2010 a fed official says the activity was mostly normal and the largest loan $70 million to a bank in maine. there were a few smaller banks with eight figure loans. fed official says when these banks requested these loans they knew the information would later become public but nothing like the tens of billions in overnight lending that we had seen a few years earlier. cheryl: a powerful group of regulators are set to make major
12:25 pm
decisions this afternoon. what are we expecting? >> we expect financial stability oversight council, top financial regulators expected to designate a major financial institutions as systemically important meaning the government will subject them to more regulation and higher standards. this is a result of the financial crisis and a dodd-frank law and allows the government to require increased oversight of financial companies expect to get those names later this afternoon. cheryl: thank you very much. dennis: a u.s. appeals court has granted samsung's request to leave it to the trial court to decide whether to lift an apple requested injunction against samsung's galaxy 10.1. samsung got a billion dollar lawsuit in a case apple filed against it and apple seeking to block those from coming into the country with a trillion dollar penalty but samsung winning a rare victory for itself in this
12:26 pm
round. let's talk baseball. a billion people in the online kent and wants to sell them stuff. for the first time yesterday the company letting customers buy real products online. not just the cartoon sheet or vulture will martinis that eyeglasses and sweet and starbucks and stereos. 100 visitors at first will give wall street and early clue to the new revenue stream. facebook gets 80 present of sales from ads and a new face the gifts service if it thrives may -- may be facebook takes on amazon and ebay. cheryl: the dow ending september with negative numbers but it is actually positive. we have a lot more green ahead. dennis: feeling fine. we will tell you about amazon's move back into the online vendor business. tdd#: 1-800-345-2550 you should've seen me today.
12:27 pm
12:28 pm
12:29 pm
tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw the trend. tdd#: 1-800-345-2550 it looked really strong. tdd#: 1-800-345-50 and i jumped right on it. tdd#: 1-800-345-2550 since i've switched to charles schwab... tdd#: 1-800-345-2550 ...i've been finding opportunities like this tdd#: 1-800-345-2550 a lot more easily. tdd#: 1-800-345-2550 like today, tdd#: 1-800-345-2550 i was using their streetsmart edge trading platform tdd#: 1-800-345-2550 and i saw a double bottom form. tdd#: 1-800-345-2550 so i called one of their trading specialists tdd#: 1-800-345-2550 and i bounced a few ideas off of him. tdd#: 1-800-345-2550 they're always there for me. tdd#: 1-800-345-2550 and i've got tools that let me customize my charts tdd#: 1-800-345-2550 and search for patterns as th happen. tdd#: 1-800-345-2550 plus webinars, live workshopsresearch. tdd#: 1-800-345-2550 whatever i need. tdd#: 1-800-345-2550 so when that double bottom showed up, tdd#: 1-800-345-2550 i was ready to make my move. tdd#: 1-800-345-2550 all for $8.95 a trade.
12:30 pm
tdd#: 1-800-345-2550 can you believe it? tdd#: 1-800-345-2550 i love it when you talk chart patterns. tdd#: 1-800-345-2550 en an account and trade up to 6 months commission free tdd#: 1-800-345-2550 online equity trading with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-800-284-9850 tdd#: 1-800-345-2550 and a trading specialist will tdd#: 1-800-345-2550 help you get started today. ♪ dennis: 30 minutes past the hour. stuck now. 320 we got the news about spain and their banks. it came in not as bad as it could have been. we are saying that now, s&p and the nasdaq coming off. breaking news. we have seen the dollar has come off of its earlier strength. let's take a look at some movers here. names that grab wall street.
12:31 pm
shareholders who are upset about the acquisition with merrill lynch. that is actually the largest shareholder based on shareholders that were upset. look at facebook. up 7.5%. research in motion, still up after their report. cheryl: thank you very much. we do have a market that is down today, but still we are on track to close the month of september and the third quarter on a positive note. todd shellenberger joins me now. actually a pretty decent performance. >> fantastic. and a lot of it had to do with the bad. everyone was expecting for bernanke to pull the trigger on quantitative easing.
12:32 pm
we can only suspect it is a great time to be bullish on the market. cheryl: let me point you to the s&p. we are pointing back to the 2010 level. our you nervous at all that this bernanke found ? >> not at all. you have this because a stronger dollar, weaker oil prices. sober and oil stocks are getting clobbered today. if you want to see the s&p 500 milf -- cheryl: we were below $90 this week. that does not concern you at all? >> that is actually good for oil companies. chevron, conoco and exxon mobil.
12:33 pm
they are three big winners. we are refining margins. cheryl: i want to go to some of the stock picks you have no. take a look at this one. >> we have a big play on this right now. this is a company that has 244 square feet of mall space right now. 422 shopping malls. this is a great company. rates will do great. cheryl: i do want to show our viewers this chart. huge run-up. >> absolutely. look, the dow jones real estate index, we are bullish on these types right now.
12:34 pm
cheryl: i know you like a bear once and a while. i know you like bud. >> it is national beer day. this is great. they got rid of the money losers. this is great for the company. plus, it is football season. cheryl: and the ref are back. >> here is the thing. this is so easy to trade. the stock has a tendency to drop 5% after a product release. the only exception was ipad two. cheryl: you have had some really good pics. you like nike as well. you have talked about whole foods before. you still like this stock.
12:35 pm
also, target and walmart. >> christmas time. black friday. people will already be lining up. quantitative easing makes you feel wealthier. you want to pay the rent, but you are there to shop. walmart and target are vague, big winners. listen. average seller $55,000 at target. walmart is growing internationally. cheryl: todd, thank you very much. happy beer day, dennis. dennis: still a line, did that geek. amazon has put together a bunch of u.s. wineries.
12:36 pm
vendors would pay a $40 monthly fee plus 15% of sales to amazon. amazon has died this market before only to hold off. let's check amazon stock right now. it is down like the rest of the market, but not by much. cheryl: more good news from spain. ashley webster will update us on that breaking news. how one entrepreneur is making a major flip from tech to the food industry. ♪
12:37 pm
12:38 pm
♪ >> i am tracy byrnes with your fox business brief. wall street coming off session lows. disappointing reports on the u.s. economy had sent stocks plunging. kodak is looking for more time. company submitting an extension until february. more layoffs are on the way for the struggling company. it will further reduce its workforce by 200 more then it said it would cut this month. sony is expected to become all of this is -- olympus
12:39 pm
shareholder. that is the latest from the fox business network. giving you the power to prosper. ♪ ♪ chances are, you're not made of money,
12:40 pm
so don't overpay for motorcycle insurance. geico, see how much you could save. cheryl: we have more on the results of spain bank stress test. what do you make of it? ashley: the reaction has been fairly positive so far. they can access up to 100 billion euros. fourteen banks in spain. they will need the full 100 billion. not the case. let's bring up the chart as we break this down. 59.3 billion euros needed. of the 14 banks, half needed the extra capital, half of the others did not. 49 billion euros needed for the nationalized banks.
12:41 pm
when you break it all down, eu leaders saying they are somewhat confident by these numbers that it was not the full 100 billion. some of these banks will not even need that full amount. the spanish economy dropping 6.5%. cheryl: charles payne was on with us when this crashed the wires. this does not mean anything to him. they do not need new capital. shocker. ashley: it really paves the way for the government itself to ask for a full-blown bailout. they are still concerns about the conditions attached that the ecb outlined. over there books and budget which they do not like. cheryl: before you go, ashley, i
12:42 pm
have to get your pre-action. france, 75% in taxes. ashley: 75%. if you earn over $190,000, your rate will be 45%. it is purely symbolic. it is not going to generate a whole lot of money. anyone earning that kind of money is already moving their money around. it will hurt france because they will not be able to attract the top ceos or business either. cheryl: double-click a huge mistake. ashley, thank you very much. we will see you at 2:00 p.m. eastern time. dennis: in other solar company soaking up tax dollars. dan springer joins us live in portland, oregon.
12:43 pm
>> one that we try to ask the ceo yesterday at the grand opening here in portland. after talking to all the other reporters, he refused to talk to fox news. they both use the same raw materials. they both use or make lightweight panels that are supposed to go on top of commercial buildings and big industrial buildings. both of them are at a big cost disadvantage to the chinese imports. do not worry, even if this one fails also, it is the price of progress. >> it is a lot of different companies, many of which will fail, but the key ones will succeed. >> solyndra gets all the headlines, dennis. there was another solar panel manufacturer just outside of denver, colorado.
12:44 pm
it also failed last year. next week, they will start selling off all their assets to try to pay back the government loans that they took. dennis: what are the analysts saying over all about this? >> they do not have a very good outlook. they are at a big cost disadvantage. there are a lot of solar panels in the world. prices are plunging so far that there are even attorneys manufacturers that are having a tough time. solar products are less efficient. they will not say how much less efficient than the competition. critics say this is congress and the administration being reckless with money. >> this is a program that should not even risk. it is not a proper function of government to be a venture capital fund.
12:45 pm
>> solo power will start spending that tax money starting at the end of this year. dennis. dennis: think you very much, dan springer. cheryl: it is a quarter till. stocks now. nicole: we are looking at one in particular. we are looking at accenture. it has been a leading on the s&p 500. it is now up seven full percentage point. i look back over 20 years and it looks like an all-time high for accenture. they -- it is a clear winner today. the dow jones down 15 points. it is still up for the month. the dollar is stronger. keep an eye on oil. it has turned around in the last half hour or so. we have seen commodities lower for most of the day.
12:46 pm
the bank, up, drugs, up. back to you. dennis: thank you. my next guest with upgrading the popular flip video camera to a chain of world cheese eateries. joining me now for this small business, big idea is jonathan kaplan founder of "the melt." it must have been quite a culture stock to go from computers into toasted bread and melted cheese. >> it is going really well. i did not know much about video camcorders when we invented the flip. i probably do not know much about how to make a great grilled cheese sandwich. dennis: you sell the flip cam,
12:47 pm
you sold it to this go. i hope you made yourself rich. and you watch this corporate company messed up and fill out entirely. are you hoping to stick with it that no one else comes around and ruined it? >> i have to tell you, right now we are focused on building our 500 locations over the next five years. the first location has done really well. i feel really good about where we are. we are putting together a fleet of buses because we believe this food truck revolution that has been happening around the country and you have seen in new york for quite a wild is really part of the next generation. we bought two get out there and make sure we can bring happiness everywhere. it lets us bring our entire store anywhere in the country. we can do so in a way that is efficient and affordable. unlike a retail store where you
12:48 pm
have to have a great location that works all the time. dennis: it looks like you are opening 506 retail stores. why not just go all with giant lunch trucks? >> our plan is to do 400 retail locations. our goal is to have around 20% of our business t-mobile. we think both will be important. i think if we scrapped everything it would be very difficult for us to really prove to the world that we are a fast casual restaurant chain that people want to come to and a brand that people want to come to. i think if we only did retail, we could not be everywhere that we want to be. the combination, we think, is very important. dennis: i am not sure if i can
12:49 pm
think of any other chains doing the lunch truck type of approach. >> i think it would be great if they thought about the mobile space as well. right now, as i said, we will build our business and we will build it strong. my hope is i can ring the bell someday rather than selling the business. dennis: only a matter of time before the food critic start complaining about you making america fatter with all your cheese. have a good day, sir. cheryl: los angeles getting ready for some football. we will tell you the latest plan to bring an nfl team there in the west coast minute coming up. dennis: corn prices are as high as an elephant ride. sandra smith is at the cme with that story. ♪ [ male announcer ] let's say you need to take care of legal matters.
12:50 pm
wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old and combined it with modern technology. together you get quality services on your terms, with total customer support. legalzoom documents have been accepted in all 50 states, and they're backed by a 100% satisfaction guarantee. so go to today and see for yourself. it's law that just makes sense.
12:51 pm
12:52 pm
12:53 pm
cheryl: it is time for your west coast minute. according to the institute, california needs a trade policy. some of the things milk and says california needs to get better at. los angeles one step closer to getting an nfl team. the city council will vote today on a wide range development package with aeg that will lead to the construction of a brand new stadium. and organ -based talk radio show
12:54 pm
is losing -- they have a million listeners a week. that is your west coast minute. then us. dennis: porn prices popping as the pipe had their lowest level in eight years. sandra: we are the only network in this grain room right now. it is affecting everyone in the stock market right now. meet companies, for instance. their main ingredient down today. agricultural stocks up. they look at higher farm income.
12:55 pm
more equipment and more fertilizers when they get more money. guys, i think we will have to leave it there. that is a live look at the corn fit. back to you guys. cheryl: great stuff, sandra smith. as you just heard, the long hot summer may be over, but the drop is still getting our crops. dennis: melissa francis and lori rothman have more on the trouble down at the farm. ♪
12:56 pm
12:57 pm
12:58 pm
♪ dennis: one optimistic that is even if stocks facedown, they dow closes up for the 11th out of 12 months. if you don't happened since 1959. cheryl: we are down 50 points
12:59 pm
right now. the month of september looking great. lori and melissa, happy national peer day. lori: what are you doing after work today? [laughter] unbelievable stat there. melissa: bottoms up. lori: we get nowhere fast. good afternoon. melissa: stocks coming back off session lows after the spanish bank came in mind with estimates. down by 49 feet eight hiking taxes on the rich to 75% did


info Stream Only

Uploaded by TV Archive on