tv Markets Now FOX Business June 25, 2013 12:00pm-1:01pm EDT
to bring your, co-founder dean simmons putting its money where its mouth is. his new restaurant chain venture rock and blues. dennis: stocks now every 15 minutes. a triple digit rise. consumer confidence. cheryl: nicole standing by. a busy day with energy. capitalism pitts were with his take on what is going on. the star with a goal. >> reporter: five america, but american. become part of the market's year earlier highs. however, we are. the dozens of vessels are rolling on to some summer games.
the numbers and what we a scene and the china. that certainly happened. north suriname, as far as economic news, it has been good. twenty-eight of the 30. a broad based rally underway. that is the environment. some names on the move and some under pressure like netflix and also bonds and nobles. however, there are plenty of winners to speak up today in the bank stocks. so that is the action we are watching here adelle. right now checking on the game's about three-quarters of 1%. that is the latest zeroth floor of the new york stock exchange. now a chicago with mr. phil flynn. >> reporter: on notes on watching the gold market are wimbledon. the goal started out with a big rally. some concerns. there will inject some money into the system, but that all went away when the dollar started to go up.
why? consumer confidence, 5-year high. oil prices on the run. of course that brought the dollar back up. that broadened to the dollar. of course gold went back down, we're coming up again. the other big news from every time copper went below $3 it cannot stay there. definitely helping the copper market. as well as the u.s. durable goods number. a double win the non copper. zero other people saying maybe we hit the bottom today. we will have to wait and see what happens. oil prices quickly of 28 feet from a back up a little bit on the dollar. back to you. cheryl: oil dropping with all the economic data coming out. now back up. days that is wallets' aisle. we have heard the endless fear mongering about our federal reserve and the money being pumped into our economy and what happens when the cast of slowing. maybe we are seeing it played out in china.
bank of china governor is ben bernanke's counterpart in china. keeping efforts to try and shake loose from stimulus. a big red flag her for investors. the chief investment officer. at the burro we have seen could be your future. a very aggressive stimulus at the 2008 collapse and now we have a new regime which appears to have different plans. trying to rein in. so there are certain parallels that are intriguing. cheryl: a bigger story line, and it is the concern. these banks have been sending construction in china for years with no consumers to move into them.
now we could be seeing the halifax, their own housing crash, there are economic collapse. comparisons to lehmann of 2008. do e need to be that concerned are is this an overblown fear in europe. -- opinion? >> it is hard to know exactly how much excess of housing has been created. no, it seems that with the seven to 10 percent growth rate in gdp is pretty -- and nt city over five to ten years. verses a gdp growing only had two or three. it will take a long time. depends on growth rate. cheryl: and sorry to interrupt an endowment to be rude, but what is real? although we can do is just the data that we get from the chinese, but a lot of this kind of -- i have heard it called a black box, black hole if you will. all the we can just as with the tell us. these are state owned businesses , state owned banks that are funding this expansion and this has been going on for almost a decade.
>> very, very much opaque. you have to try to look at the absolute volumes of commodities that being imported. you have to look at, you know, what the export volumes are, not just a nominal numbers that come from the government. i agree. very opaque and hard to know what the absolute numbers are, but broadly among pre 2008 with such an% annual growth. members your hearing today are in the 7% range. it seems to me that the economy is growing and seven should not have a lot of problems. cheryl: while i have you here i want to bring your attention back to the u.s. markets. that was one problem yesterday. back when you were on the show in january, your target was 1500. you are actually bumping that up to 1550. you mentioned that earlier. you thought about it at the time and now you're doing it. is that the last jumper will see? >> it depends. we have already seen a second
quarter pre announcement leaning toward the negative side. if we see another push up and earnings we get into the 109 range. s&p earnings. we might push our target of. we don't really see any reason to push it up from their until we see much better earnings. cheryl: before i let you go i'm at a time of want to let our viewers know that you picked boeing. the stock is up 32% suspected. wants to give you a shot of. >> and we still like it. cheryl: there you go. dennis: numbers were terrific. the person is selling really well. cheryl: all right. a nice pick. thank you. >> thank you. dennis: a bipartisan backlash. lawmakers on both sides of the aisle the leasing discomfort over the proposed sale of smithfield foods to china's she won quay international. leading the charge, the chairman of the senate committee on agriculture, nutrition, and forestry. she joins us now from capitol hill. i hope i have that right.
thank you so much for being with us. this is one of the first times ever i heard the other white meat, pork, characterized as an issue of national security. can you please explain that to us? >> first of all, good afternoon. it's great to be with you. think the issue is in a global economy when we have certain strategic assets that creates strength for our economy and for our security, how are we going to address those? food security certainly his national security. we don't go to war over lack of food like other countries do. we have the safest and most affordable food supply in the world and the question is now, china is strategically looking at buying assets, buying various technologies, going in strategically to buy pieces of our food system. how do we address that? we have passed in a bipartisan basis 15 members of the senate to have the review the treasury does, including the fda.
or looking in a smart way at how we proceed. in the short run this looks like a good idea for the industry. we are heavily export dependant, but the question that i have is, why can't we just export? smithfield would not be allowed to do that, but in the long run our largest export market is japan. what happens, we get the technology, we give all of the public investments we have made in are indeed a china. they turn around and take on markets, so i am concerned about the implications long-term. dennis: it seems to me that china, we must export far more stuff to china than we do to japan. i mean, it's a far larger market, but one thing i don't understand, when the belgian firm came in to buy anheuser-busch. now i don't remember anyone raising issues of national security. is this really basically a big leap for being anti-japanese
because we are terrified of them beating us competitively, buying a treasury bonds, and if they don't really care as an economy? >> actually, the senator from missouri at the time raise a lot of concerns about that particular deal. i would say once you're getting into the basic someone of meat and other parts of the food supply as we go forward in a global economy, this is very legitimate to raise the issues of where we will draw the line in terms of how we are operating with other countries. the reality is i ask why don't we just sell to them. re-export dependent. biggest trade surplus is agriculture. it's a strength. let's just sell. what are the implications of them coming in and buying 20 years of technology. our industry has put together working with the public sector. dennis: we are talking about
slaughtering hogs. we are talking about fiscal routers that used in the internet to route, you know, sensitive data. readjust talking about pigs and pork. i just don't understand. is your fear that china is unsafe food practices will be adopted by american workers here ? windy to instead be it the safe food practices of america one out be shipped over to china and help the population? >> hopefully that's the case. hopefully they are adopting. one of the questions i asked the ceo is in terms of their brand because they have had a very. right ow before the standards are high enough, let me talk to the broader issue. we can make fun and said this is just about pork, but what if it's scary, beef, fruits and vegetables. all of the food industry.
at what point does the fact that another country owns our food technology and food supply becoming a national security issue? i don't know. it's a question worth asking if we are asking the question. dennis: you guys say in your letter that we have now reached a conclusion, but doesn't the very fact you're asking for the fda to get involved in the agricultural department as well, doesn't that mean that you guys have reached a conclusion and you're against the steel? >> absolutely not. dollars against the deal would be on the show telling you i am against the deal. i do think that if we only look company by company, every are only looking a recorder, let the company, then we are not doing our job as public officials which is a much broader view and strategic interests of our country. china looks and hundreds and thousands of years. dennis: you stop by nice deep
pockets from coming in, but thank you for being with us. good day. >> thank you. cheryl: that big sell-off in gold stocks yesterday can be tied directly to the white house. the president was going to talk about climate control. here is what it did to stocks in the sector that have already been crushed. so far this year the president will deliver his speech for georgetown university. 155 eastern time. regulating greenhouse gases. analysts say the strategy will force many of these plans he's
doing it for his ego. tweet your response. cheryl: well, live in illinois where one of these coal plants is coming under heavy scrutiny because the president's new climate control plan. he will talk with us. operators say they're concerned. dennis: and just how serious corporate america is taking the cyber threat. dell computer strikes a deal with love the big securities firms. cheryl: and jean simmons, legendary guitarist is back with us with a new business venture. but what gives them the right to back and start up in this economy? ♪ she's still the one for you -
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today up 109 points. let's bring in nicole petallides from the floor of the nyse-listed. homebuilder's, the data coming up on sales. it was great. >> reporter: and it's great news here for the home builders. ultimately seeing a group here with up arrows. all right. toll brothers up 1%. the best of the bunch, up nearly 4%. the group is very volatile out by nature. recede and selling off recently. concerns about higher mortgage rates and also the fact that some people were heading in buying some existing homes rather than turning to build new ones of their own. so this group really has been all over the place with a lot of volatility. today's news really has propelled them to the upside. new-home sales came in with the best numbers from 2008 coupled with this case chillon numbers that showed home prices on the rise, particularly in the west coast like san francisco you are seeing that they're doing very well. cheryl: we will be talking about that at the bottom of the hour.
thank you very much. nicole petallides. dennis: as we told you, president obama taking aim at a coal-fired power plants in his speech on climate change this afternoon. jeff flock is live from a coal plant in joliet eleanor with more. >> reporter: this is one of those that is in the cross hairs. take a look at the perspective. you see the big coal a news. not much care. a lot of people don't care for him, but i tell you, if our's a lot of electricity around the country. on by midwest generation, a company that is already in bankruptcy. it can't afford to change to the current standards. they're going to have to shut down. take a look at the coal stocks. you mentioned they have been addressed since the beginning of this year. there really been crest of the past six years as president obama took office. david is not a big surprise. if elected a company like ours
coal, and lost three-quarters of its value. natural resources, 70 percent down. these companies are taking a big hit. you talk about the impact of the closure of these kinds of plants. there are about 1100 of the nationwide. take a look it justice generating station. about 250 people work here with apparel $27 million. this has to go way figure to be heavy regulation. about a million dollars each year. early view with the hot board of the parent company. the parent company. a lot of them have diversified, not just tentacle, but other means as well. this could be in the cross hairs. the president's speech this afternoon and we will all be listening.
cheryl: signing on to help protect customers. corporate america and the cyber threat coming up. dennis: an interview on that one and all ppices jumped to an &. on record for monthly gain and a strong report for those who think housing is going to help our economy starts to grow better. fray night, buddy.
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♪ >> reporter: just about 25 minutes past the hour, patsy and brown with your fox business minutes. the supreme court says that the provision of the brunt -- voting rights act cannot be enforced until congress can come up with a new way of determining which states and localities require fl monitoring elections. the justices said the law relies on 40-year-old data that does not reflect racial progress in changes in society. president obama calls the ruling deeply disappointing. national security leaker has made a stop at the moscow airport and the russian president says he will not be extradited to the u.s. he says that he has not crossed the russian border, is free to go anywhere, and he hopes a stopover does not affect bilateral ties. and they are celebrating in chicago after the black hawks arrived on carrying the stanley cup. chicago beat the boston bruins and last night's game six going
to goals in the game's final minute to win a championship. those are your news headlines on the fox business network. back to you. dennis: thank you very much. and el is wrapping up its cyber defenses. the computer giant rolling out a number of new security features. among those, noon hour protection solutions as the company partners with tech security firm in valencia. of the next 12 months that will rollout 12 million machines with the anti technology already embedded. this ceo, thank you for being with us. congratulations on your deal. in terms of you and the company, is this the biggest single deal you have done with the big pc maker? >> we are pleased to be on here and it's a big deal. we have been selling spray successfully.
what this really does is puts it up there on a much larger footprint. tens of millions of machines being state of the art and time now where prevention technology that here to four other companies just have not had access to. dennis: i go home and get on the internet with my kids. how machines. at a site to call abort female. unmasking is can you really, truly sequester work computers from the virus threat? amin, if the threat serve your out there, how are you supposed to protect? >> i understand what you're saying. the reality is any machine is a risk. by putting our anti a mal where prevention solution on every commercial desktop we're g you a way to view contrasted internet content and a secure way, so this is a type of technology that the securities
industry has long been looking for. it is not based on signatures. there is no signature up to it every day. we protect you against unknown threats. real finally getting to market, a very, very big way. bringing this technology to people who can benefit from it. dennis: we always see the familiar brand names and have peace offer, whenever, how is your stock different? will it be in addition to? >> a great question, our software is embedded on the desktop. it is promoted. it will be shipping to all commercial customers. it is they give in addition to. anti prevention tool. adelle and the commercial space. copies, they can layer on
additional security mechanisms in addition. dennis: and if they get hacked we will be coming after you to ask for an explanation. >> my pleasure. cheryl: so, new at capital co-founder and president recommending wells fargo on markets now one year ago. >> is one of those banks. obviously they are all in businesses, but this is the purest bank play from the portfolio position. cheryl: if you were taking his advice back then you would be doing pretty well right now. take a look. the stock is up 24%. let's hope the stock-picking street continues. he joins us for that fox business summertime showdown. every friday going head-to-head in a month-long competition. dishing it out with rob morgan of fulcrum securities right here. housing on fire.
then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva can also lead to tooth decay and bad breath? [ exhales deeply ] [ male announcer ] well there is biotene. specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene -- feople who suffer from dry mou. dennis: stocks now. we have nicole petallides looking out barnes & noble. nicole: they want to shield their eyes today. the dow is up over 100 points. look at what is happening with
barnes & noble. down 18%, as we speak. their quarterly net loss more than doubled. sales in the business overall not doing well. the losses that they saw last year, they are trying to contain those losses and work with a partnership in order to produce and market these tablets. cheryl: that is quite a punch on that one. a slew of data coming in. home prices in 20 major cities jumped 2.5%. prices up over 12% year over year. sales coming in at the highest
level since july 2008. as the recovery picks up steam, there are fears of a housing bubble. i want to thank both of you for coming in here. scott, i do not know. what do you say? >> mortgage rates are back up about 4%. we had a very aggressive and move up quick. i am a little concerned. could we lose a little bit of momentum? melissa: this is different than the housing bubble that we had back in 2007. more americans are working. this looks like to be investment money. that is where the bubble is coming from. >> yes. i think you are right.
20% of the market are cash investors. i think there is starting to be a little bit of tension. it is hard and it is expensive. i think that the likelihood that they will see a quick exit for the first entrance is going to happen. it will cause some pressure. melissa: one of the big fears is it going up. that could drive up the financing market. that is one of the things that the banks has been profiting off of. >> no dow. banks have been struggling to find a key income.
they are doing anything they can to make money in the mortgage market has been a safe haven, for sure, for banks. the margins have been, it ghetto, historically higher than anyone has ever experienced. we are in a housing recovery. it is very fragile. i think over the summer, we will lose a little bit of momentum. melissa: there is no sign that it will obey any time soon. what do you say from the average
investor? is the fear truly warranted at this time? >> no. i think that we have a lot of room to run. there are markets that are still off of their highs. you are seeing demand outpace supply at a historic basis. it is a third of the historical average. really about a third of where we need to satisfy the current demand. interest rates are going up. it will take 2% for them to go up sufficiently just to catch up. a lot of room to run here. melissa: you both are telling me you are not that concerned about the bubble, but there are some variable concerns we will have to keep our eye on.
gentlemen, thank you very much. appreciate it. dennis: you know him as the front man and cofounder of his. gene simmons is here. putting his money where his mouth is in this tough economy. ♪ change makes people rvous. but i see a world bursting with opportunity, with ideas, with ambition. 'm thinking about china, brazil, india. the world's a big place. i want to be a part of it. ishares international etfs. erging markets and single countries. findut why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.
♪ >> i am jo ling kent with your fox business brief. jon corzine could be facing charges. the "new york times" reports the commodity trading commission plans to approve a trading lawsuit as soon as this week. nike shares are running higher after deutsche bank initiated coverage. scandinavian airlines is planning to order 12 new planes from airbus. $3.3 billion.
dennis: gene simmons is not just another pretty face. ♪ i want to rock and roll all night ♪ dennis: he has now gone into the restaurant business. look who is here, none other than gene simmons himself. thank you so much for being with us. >> when i was playing with, i created this thing. i did it when i was holding my pick, i waved my audience. dennis: that is how it happened? >> nonsense. people thought it was the double
side. it actually means i love you in sign language. write that down. dennis: do you own them all out right? >> the answer is yes. i am not here to look for a dime from anybody. rock and -- we ant to make it an experience. dennis: you are making this restaurant with an actual family picture. >> that is right. any rock and brews restaurant
that when you go there, you are surrounded by video screens and large murals and stuff like that. don't come alone. come there with your family. you can even bring your dog. you can even bring your dog. all the rock and brews are very open. dennis: it has almost been looked that, if a rock band had got into some kind of business, it is just a required part of the entire approach. it is the way that stars make money these days. >> they did not understand that the future, well, there you go.
i was doing something that you can close in on. the future has always been today, yesterday and tomorrow. that is business. it is called the music business. there it is, kids. the music business. ww are lucky to be able to do what it is that we are able to do. however, in terms of qualification, highly unqualified. while it -- why would i listen to a moron in a band that has no idea how to run a business? kiss about to celebrate our 40th year.
bigger than ever. the hello kitty thing is huge. roger does not have enough time for me to fill out. dennis: i am so glad to meet you. roger and i are like this. thank you for being with us. gene simmons. rock legend and entrepreneur. melissa: taking a look at how the major averages are doing right now. let's head to the floor of the new york stock exchange. we certainly have turned around. >> it is all good news. the good news is not bad news for the market, which is what we have seen the last few months. the volatility will be breathtaking for the casual investor. there is some enormous trading
opportunities. melissa: you are not concerned about the china issue? >> no, we are worried. that is a bigger issue. they are history has told us thattthey will step in when things get really bad. if they can orchestrate a masterfully, which i think they can, then we will not have any problems. melissa: all right. new york stock exchange. thank you. >> my pleasure. dennis: score one for sony. the playstation has been be enough by microsoft's xbox.
microsoft retreated. now comes sony. sony beating microsoft on pricing. one hundred dollars cheaper than the xbox. that scary stunt by nick wallenda. it also shows how scary it is to run a broadcast network. though shows about four, 4.4 oh yen viewers respectively. barely beating a rerun of fox cartoon "family guy." melissa: one business vans justin bieber for life. dennis: we will get your responses to what is bugging me ahead.
melissa: time for your west coast minute. the minimum wage in alaska may be on the rise. a petition to raise it to dollars to $9.75 an hour. fluoride and water controversy not enough. bad news for oregon residents. 17% of them will not receive proper dental care due to lack of available dentists. justin bieber made quite an impression on one las vegas
business. justin bieber now banned for life from skydiving. he backed out of the pavement arrangement. they agree to post a photo on the instagram account. the post was never done and they do not tip anyone there. nice. no response from justin bieber's posse. that is your west coast minute. dennis. dennis: let's get to what is bugging, well, you. scott said if you cannot get china to hand over snowed in, how do you get them to comply with carbon caps. we have real-world applications of them to work from. steel industry aad eu. chris says everything president obama does is for his ego. mary k says obama's war on cool
is all about skyrocketing electricity. oh, dennis, you did not actually say that, did you? yes, i did. melissa: taxes governor rick perry back from his world wind trip to new york and connecticut trying to lower people to come back to the state. you can see the interview right here with me tomorrow. governor rick perry of texas. a coal industry killer. the new concerns as president obama targets emissions in his speech. adam and lori are next.
lori: would you believe no criminal charges? first, time for stocks now as we do every 15 minutes. checking in with nicole petallides. nicole: the credit crunch has eased slightly over in china. here at home, we have gotten good economic news. confidence was one of the pieces of economic news that we got in. that brings along whether or not the federal paper or cut back on that bondline. it is not unusual to see a little bit of a bounce back year. on the dow jones industrial average, 20 of the 30 names have been in the green. there is buying happening across the board.