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tv   Markets Now  FOX Business  September 5, 2013 11:00am-1:01pm EDT

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we will read some tomorrow. here is dagen. dagen: i want to know what comes first, sex or money? stuart: out of time, and dagen. dagen: president obama and russian president putin together shaking hands at the g20 summit. who drew the red line? president obama said that he did not. donald rumsfeld says that he absolutely did. senator john mccain kaup playing a game on his iphone. he said worst of all, he lost. the real winner in all of this, the company behind that game. finally, it begins. the nfl season kicking off.
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we take you behind the scenes at one company that makes the protection for all of those professional players. all of that and so much more on this hour of markets now. ♪ dagen: good morning, everybody. good day, where ever you are. the service sector reading was -- the market not so much. nicole: yesterday, we gained almost 100 points. we have mostly of arrows in the last five trading days. the dow right now up four points. virtually flat. you have the private businesses.
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you have the jobless claims. the dollar is very strong. there is a lot going on. dagen: the debate over syria. rich edson is in washington, d.c. with the very latest. rich: good morning. president obama has arrived at the g20. the president canceled his one on one meeting with vladimir putin. that does not mean that they will not see each other. they both managed to smile.
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>> we will have a conversation about the situation in syria. the use of chemical weapons in syria is not only a tragedy, but also a violation of international law that must be addressed. rich: a senate briefing is underway. administration officials will offer another briefing. reuters is now reporting that the syrian prime minister will travel to moscow.
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dagen: if you look at the vote count, it looks like it could go the other way in the house. rich: the house is not counting votes yet. lawmakers are not back yet. there really is no accurate vote count. it is way too early to tell if this will be defeated or not. dagen: thank you. we will see you tomorrow. let's bring in chuck nash. good to see you. can we build international support for this? would that be a better way to
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go? >> well, this is like a house that is on fire and the alarm bells ring. what does it really mean? the political side of this is probably the only thing which is protecting the region and protecting the various players interests in that region.
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i think what has to be understood by the world community that has been reluctant so far to get involved , at this point, politics, it is too difficult in the g20s setting to even try to bring this up. i am very surprised that the president said he expects to have extensive talks with putin. dagen: what are the chances that, let's say congress does not approve a strike, what are the chances that the president would go ahead on his own and use his executive power.
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>> total responsibility for all of the unintended consequences that may follow. there is a huge political calculation going on in this. this is a military problem that is going to demand either one side we were soundly receded. there has to be a resounding victory. the new deal with the fallout politically. i just do not see it being in
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the cards at all. dagen: so many viewpoints, so many opinions that were not necessarily based politically. it is astonishing. thank you for your viewpoints. it was great to see you. dagen: but take a look at how the markets are doing. up, barely. do we go, do we not go? why has there not be a rush to safety? the ten year yield right now is dangerously close.
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>> if people were afraid of war in syria, you would see a rush to safety in recent days. treasuries are not the safe haven that they used to be. the biggest threat that we may be facing is economic growth. treasuries are plummeting. if indeed the crisis in syria is heating up, where are people flocking to? again lost its status as a safe haven over the years. the same thing can happen to the dollar. dagen: gold is down about $20 an ounce at the moment.
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let's say interest rates keep moving up and stocks are at a standstill. that is not necessarily a bad thing. >> we have been conditioned to buy stocks. what if somebody dares to take a profit? october is coming up. we had portfolio insurance. it is very dangerous. we see asset flows into the stock market. we get very concerned. we decide to step on the sidelines.
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>> the fed has no course. what we need is fresh blood. what is a bad number? what is the fed going to do differently? we need fresh blood to provide a vision. now we just know that they do not know what they are doing. everyone is on the sideline. volatility will exist in the bond market. people think they can seek refuge in the stock market. it is a sign that we have a bubble. volatility is likely to pick up. dagen: new blood is on its way.
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you may want to be careful what you wish for. thank you. good to see you, as always. blackberry looking for a buyer and fast. shares jumping on the news. is this opening the door to the unionization of the country's largest private employer? donald rumsfeld on syria. go big or do nothing. it is up over $108 a barrel. ♪ [ male announcer] surprise -- you're having triplets.
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who wants to buy blackberry? microsoft is probably out with their deal with nokia. they had talked down speculation that they may be involved. in the meantime, just talk that blackberry is eager to do some sort of deal by november is enough to give this gusv.3%. sas he bn st f the ackbry seven and black. ten. dagen: thank you so much. it is time to make money with charles payne. i will pose the question.
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charles: money, power and sex. dagen: if you are ugly, but have a lot of coins in the bank, you are good to go. [laughter] charles: absolutely. let's go to something extremely boring. here is the thing, we have this big thing with the nasdaq. we are in a bandwidth crisis. they had earnings out yesterday. phenomenal numbers. people should start looking back. they beat the streets in the last few quarters. this is a classic momentum strike.
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dagen: the ten year yield is almost at 3%. charles: i think that will happen. we are okay with that. dagen: we will see what happens with the jobs report tomorrow. thank you, charles. i will see you later. walmart workers following in the steps of last week's fast food protesters. what does it mean for the potential unionization of this company? former secretary of state says
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he did not draw the red line. take a look out world currencies are holding up against the dollar today. lower on the euro. ♪ ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today.
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>> 23 minutes past the hour right now. egypt minister who is in charge of the police force says its convoy was targeted by a large explosive device in cairo. stunning car pileup. they continued for ten minutes. crews needed hydraulic equipment to rescue those trapped in the rack. a people seriously injured. they have figured it out. it is a girl.
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the panda cub in washington is female. though, appears to be in good health, but does not yet have a name. they sure are cute. those are the headlines. back to you. dagen: puppies and pandas. thank you, jamie. workers and supporters are planning a walkout in about 15 cities out walmarts. elizabeth macdonald has the bottom line. >> these other cities where protests are being staged today
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this is one of the biggest walmart protest since the black friday protest staged against walmart. the union groups and activist groups and workers are saying walmart should pay an annual $25,000 in salary to workers. walmart is saying, listen, we give pay plus benefits. reinstate the workers who allegedly were fired after they protested in earlier actions against walmart. they are also saying reverse the 80 disciplinary actions against
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these workers. they are saying they filed 100 actions against walmart. we will be tracking this story throughout the day. dagen: unions try to boost their membership. thank you so much for that. president obama saying he did not set a red line when it comes to syria. the world did. donald rumsfeld does not agree. >> this president has tried to find a way to blame everybody or anybody for everything. leadership requires that you stand up, take a position, provide clarity and take responsibility. i cannot imagine him saying that
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he did not draw the red line. he did draw the red line. secretary rumsfeld joins us next. ♪ [ male announcer ] how do you get your boce?
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♪ dagen: time to let change your dinner plans. mcdonald's is testing a new dollar menu to include items that cost -- well, can you call it a dollar menu if it costs more than a dollar, nicole?
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>> reporter: looks like it is going to be called dollar minuend more because you're going to have to pay more than a dollar. so the original idea was the dollar menu. now it seems that the products on the dollar menu and more value menu will be tested in markets ranging in price from about $1 up to $5. so-called share rubble items, such as a 20-piece box of nuggets. you may be paying more than $1, however, a 20 piece box of nine is may be feeding more than one person. that is the idea behind it. so this is something they have been testing, struggling to keep up sales. they're going to relaunch a revised dollar menu. it could come later this year. over at mcdonald's. did your dollar and more ready. dagen: thank you so much. my next guest has perspective on
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syria that most cannot. the former secretary of defense, donald rumsfeld. it is great to speak with you today. you were in the defense department in vietnam. you were and the defense department during the iraqi war. let's get syria. the parallels with those conflicts, the differences right now. >> if you look at the middle east, it seems to me that one has to conclude that the strategic interest of the united states is probably first and foremost egypt and its relationship with israel, which has contributed to a somewhat reasonably stable time for much of the last several decades. thanks to on more said not who was later killed, of course, by the muslim brotherhood. the other strategic interest, i think, is the situation in iran.
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developing a nuclear weapon, which if they get a nuclear weapon, it very well may lead to proliferation of there weapons in that part of the world because other countries will feel that the genie is out of the bottle. syria is less important. it is important because it is so closely allied with iran, and they are engaging in terrorist acts around the world and supporting a number of terrorist organizations. but i think the vote in congress is going to be a tough one for members of the house and senate because it is a close call. dagen: if congress votes against action in syria, does the president then need to take action as the leader of the country? >> i think the reason that there is tactically no coalition support, unlike with president bush in afghanistan and iraq and the global war on terror, he had a large coalitions with dozens
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of countries. i think the reason that there is not that sense of unity in the congress is because the leadership has been so lacking clarity and ambivalent about what he is going to do. he has mostly said what he is not going to do. he has left no clear impression anwar sadat will still be standing when it's over, which tells of the syrian people if they'd better be careful if they try to death row him out. i mean -- i mean, assad out. they could run the risk of being killed or have their families killed. so it is either way, if the congress -- legally the president can go right dead if the congress votes no. the credibility of the united states if the congress votes no is damaged and our influence is
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weekend. by the same token, it seems to me, that if the president goes forward with the uncertainty about what he is going to do and why he is going to do it, i think our credibility also is weekend and into the lens is weekend. our enemies in syria and iran and elsewhere will be emboldened it. dagen: one of those outcomes has to be worse than the other, does it not? >> well, my book, at the top, there are no easy choices. all are between evil. the consequences of which are hard to judge. i think they are hard to judge, and i do not envy the president wrestling with these tough problems, and i do not envy the members of congress because i think they are faced with -- the country has been driven down into a cul-de-sac where to get out you're going to have to probably backtrack. in any event it is not going to be attractive to.
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dagen: in terms of backtracking, there was the comment about the red line. could you just read that as an effort to build international support for any move that we might make? >> i don't know what his motive was, but clearly the words left the impression accurately or and accurately, that he wanted to be able to blame someone other than himself. he is being accused of trying a red line and then not living up to it. i mean, this figure of speech that we will fire a shot across their belt, no one fires a shot across someone's bound unless they are willing to back it up, unless they're willing to fire one at the ship if, in fact, the ship does not stop doing what it was doing. that is why you fire a shot across the bows. you don't fire it for practice. the idea that he wants to be able to blame other people, the congress in this case and his
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political operatives put out a tweet saying, in effect, now the congress is like the dog that caught the bus or something to that effect. how could he say, i did not draw the red line, when his words were exactly that? now, you may be right. maybe he was trying to say, gee, the international community drew their red line, and all of you should climb in this boat with me. i don't think you do it that way. leaders don't do it that way. leaders provide vision and clarity and call people to a cause, in mission, and not try to share blame and assign blame. dagen: mr. secretary, great to speak with you. thank you for being here. former secretary of defense donald rumsfeld. senator john mccain has been in the center of this decision of whether to go into syria are not or strike syria. he got caught red-handed playing a poker game on his iphone during a hearing about that very
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of its furloughed pilots. the airline says it will bring back nearly 600 pilots to address future staffing needs. united has more than 12,000 pilots, and none will remain on furlough after this recall. this will run through the end of the year. the is and survey of purchasing managers showed the index is climbing. any reading above 50 indicates expansion. that pace of growth is near an 8-year high. weekly jobless claims fell by 9,000 last week to 323,000, nearly a 5-year low. prior week revised higher. that is the latest from the fox business network, giving you the power to prosper. ♪
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♪ dagen: senator john mccain is iphone game of choice appears to
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be vip poker, and it gave the company a boost. this is after a photo surfaced of the senator playing the game during a heated debate on syria on tuesday. the honor tells tmz that down lows of the mobile applications have soared by 30%. so it looks like distractions to pay off. i am not a dime and scalp. but if you are, you definitely need to pay attention to this. monica crowley sitting here. some -- sotheby's is set test sell off the biggest perfect diamond ever to hit the auction block. showing off the 118-carat diamond which will be auctioned off in hong kong this october. expected to fetch our record high price of 28-$35 million. it is about the size of the neck. the current record was set back in 2012, just last year.
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almost 100 to carry rock. who wants that? you cannot wear it around. well, maybe you can. so congress is honing in on the situation about syria. let's talk about all of the other battles that are on deck. we have won over the budget, the debt ceiling, immigration, the health care exchanges go into effect on october the first which could be not it. joining me now, radio talk show host and a fox news contributor. how does serious impact on of those things? >> first of all, on that diamond, the fact that you said who would buy that, who would wear that, you need to turn in your girl card. dagen: men are so stupid for buying one and diamond rings to get married because if you get married and divorced the woman gets to keep the ring anyway, and it is the worst investments ever.
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if you buy it, getting gates, and get the ring back, you will probably get $0.10 on the dollar. >> i'll take that time and any day. on syria, the more important note, you're absolutely right. all of these agenda items that were already on the agenda and schedule for congress to deal with, the continuing resolution, funding the government, finding obamacare, the debt ceiling, all kinds of budget battles. of course, immigration which the congress expected to try to deal with in september and october. a lot of these things, especially immigration, may be pushed off a little bit. in the timeline of the budget battle, the time line will stay the way that it is right now and less that syria intervention, assuming it happens, it goes really off the rails in which case it will blow apart anything that congress has plans. dagen: can we assume that happens? people can talk about the votes, how they're going.
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>> nobody knows. it could go either way. this is a president double run congress and the c many times anyway. even if congress denies him approval to hysteria, he could go ahead and do what he wants anyway. the smart money is probably on some sort of limited strike right now. then again, you have unintended consequences. that always happens with a military strike. even if you try to contain it and keep a narrow, it has a tendency of blowing up in directions that you don't anticipate. dagen: it has been a long time since i have seen so many different opinions and perspectives on an issue that does not seem to fall along party lines. you have conservatives and republicans who do not think we should do anything without an international coalition. he feels that way. need to do more, some republicans think. and then the democrats are falling in line with the white
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house in no way that you would not normally expect. >> some of them are, but there are a lot of democrats and liberals who are anti-war and oppose this anyway. conservatives, liberals. all kind of in the same boat. the president will have a tough time. but we are on the fox business network. this is a money-oriented show. there was a headline coming out of the republican caucus. the chairman of the house armed services committee may want said use any kind of scary action to make an argument for removing this sequester limits on defense spending. you can anticipate that if they're going to make that argument, let's restore defense spending, let's restore the sequester, at least on defense, that the democrats will come back and say if you're going to do that, then restore domestic spending cuts. there is going to be another layer to the budget battle fight going in to the fall because of syria.
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dagen: always a budget angle. thank you so much. jobless claims near a 5-year low. investors looking toward tomorrow's jobs report. this great number on the service sector from the ism. joining us from the new york stock exchange. a market that is not doing anything. the yield on the 10-year going of. it seems to be anticipating the fed pulling back tomorrow. >> like you just mentioned, the is in number, of better than expected. it's still a good number. we are looking for that 170- 176000 of. that is enough that we think that the feds will say, okay, we will start tapering. a good number for main street. could be a bad number for wall street. dagen: good to see you. thank you so much. when the baltimore ravens take on the denver broncos in tonight's first regular-season
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football game every player on the field will be wearing the required pads for the first time since the early 90's. jeff flock is at the company which is cashing in on this new rule. explained the new rule. i love it when you are in a factory somewhere. >> i do, too. particularly this one. if i end kneepads and protection. take a look at this. it looks like -- i don't know what it looks like. this is the name of the company. fascinating company. this is what you call hecks technology. tell me why they love the some much. >> a lot of players, not only the nfl, but hundreds of individual foam pads eliminated permanently to compression fabric. it allows it to breathe, conform to move with your body, very comfortable, very light weight and protective. >> reporter: this is their proprietary technology.
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maybe you can see how this gets done. these are cat with a laser. maybe you see it doing its work there. it gets laminated to the fabric. players now being required to wear some of these paths just love this. this is what it looks like when it comes out. it is stuck to of this fabric. this stuff moves with you, and that is what they love about it. your company has expanded every year. your during the nba. >> oh, yeah. the nba found out about this originally from the nfl teams. >> reporter: they wear it on their elbows. >> elbows, shans, knees, reds, you know, any place that they could get hit. if. >> reporter: take a look as some of the other sports companies that you could be without there. it has been a tough year for some of them. your company has expanded every year since you were found it. >> every year actually but one. >> reporter: interesting.
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>> it is just sticking to it and developing new products all the time, new technologies. it has been a challenge, but it has been fined. >> reporter: was calling to say, it seems to be paying off. we will show you more of the process next hour and talk to your partner, founded in his basement how many years ago? >> oh, gosh. thirty-four, 35, 1984. >> reporter: make david, take a look at them. interesting company. it will be on the field tonight. we watch the super bowl champs defend their title. dagen: a lot cooler than anything aluminum makes. will say that for sure. thank you so much. >> reporter: if i could see you in one of those, that would be nice. dagen: i will take football pads over those any day of the week. thank you, sir. a morgan stanley making a bullish call on the s&p 500, but tomorrow's employment numbers
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derail that. winners today on the nasdaq. ♪ ♪ nascar is about excitement. but tracking all the action and hearing everytng from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles
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♪ dagen: morgan stanley making some bullish calls on the s&p 500, expecting major growth. sandra smith has more on that from the pits of the cme. >> reporter: really bullish forecasts. we are hearing a lot more of these coming from the big investment firms.
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right now we are at 16 -- 1657. one year from now. that's about 11% increase from where we are today. that is a very deep rally that they're calling for. basically been in some economic growth picking up in developed countries. also the emerging markets, they are saying that they will stabilize over the next year, and that will add to the bullish sentiment. by the way, 2327 on the s&p 500. time to home health care, technology plan industrial names so a bold call, but one that we are hearing more and more of. the unemployment report that comes out tomorrow. dagen: thank you. from chicago. coming up next, mr. ashley webster. the fabulous voice. he takes you back to d.c. to get
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the latest on syria and president obama in russia. also, walmart and the walkouts nationwide. how many people are really not on the job today and what does it mean for the union movement? stay with us. ♪ hout history, folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. [ male announcer ] one pill each morning 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 copd maintenance treatment that helps open my obstructed airways for a full 24 hours.
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♪ >> well, welcome back, everybody. i'm ashley webster. a friendly handshake but tense relationship. face-to-face just one day after he accused the secretary of state to live -- of lying to congress. walmart workers holding up massive nationwide strike. the forefront of this, wage hikes. and it is finally here. are you ready for some football? picking up tonight in denver.
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we will take you behind the scenes to one company that helps provide protection against all of those hard hits. the top of the hour. stocks now every 15 minutes nicole petallides on the floor of the new york stock exchange. we are on the upside or maximum much to take a look at. i am excited about that. the dow jones industrials, nice winning streak. three days in a row. twenty points, 14950. all those folks who are hoping for 15,000, not quite there yet, but we have changed the trend. four straight down leaks. however, things have been changing. let's take a look at some of the other things that i am watching in particular. a very strong u.s. dollar. will the fed tapir and dwayne? syria, oil, and the 10-year treasury. aid is so key as we approach 3%.
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at the moment just under three. that is something that everybody is watching closely as well, and there are plenty of winners on wall street. dennis: but that the 10-year yield getting a lot of attention. still pretty low is directly. well, when superpower's collide. president obama, russian president putin maybe not the best of friends, exchanging an awkward greeting earlier today. awkward is probably the best terms. the two nations at odds over the situation and syria as pressure remains a staunch ally. just hours before obama's arrival putin slam secretary of state john kerry over is statement of the civil war. [speaking in native tongue] >> translator: i watch the situation in congress. people ask, is there al qaeda?
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he says, no. the main combat unit, they know about this. it is not pleasant for me to see this. while we communicate with this and assume they are decent people, he lives openly, and he knows that he lies. this is sad. dennis: those are fighting words. rich edson joins us with more from washington. >> reporter: a response from the state department, the secretary of state before congress says the syrian opposition has increasingly become more defined by moderation. russian president putin disputes that as is the operation is extreme and calls secretary john kerry a liar. they say, this is certainly not the first time we have seen of this role approach from president putin. this is say, secretary gates to testify truthfully and accurately to congress. with that they g27 begins. he restored to a having a conversation, trying to win international support for a
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serious strike. meanwhile, the continue briefing lawmakers on the administration's plans, and many remain skeptical. >> i am also very wary of the united states becoming entangled more and more deeply in what is a civil war. >> reporter: senate foreign relations committee has advanced a resolution granting theent lio attack syria. under this plan president obama could have up to 90 days to conduct military operations. the full senate considers that plan next week when both houses of congress return on monday. back to you. dennis: all right. thank you. for more on this, let's bring in dan from washington, doing a great deal of reporting and the crisis. i guess we should not be surprised. but what is the president does not get congressional approval? to see go ahead anyway?
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>> well, i think that is an open question. a lot of people point to the president's, president clinton and the cause of crisis. he asked for approval back in and did not get it and went ahead. i think president obama has indicated that he is willing to go forward fan sees it as a necessary step. his decision to go to congress was a surprise. i don't think we know what he is going to do, but at this point i would say that the odds are he would go forward, even if he cannot get approval from congress. dennis: the irony is, whenever damage they do in these limited air strikes, russians could very well provide new versions of that to the assad regime. >> certainly russia plays an important role. they have people on the ground, they're going to be a key player. you know, the tensions that we are seeing play out are going to play into this as president obama tries to find a way to
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navigate through this difficult crisis. ashley: the two main concerns on both sides of this is that a limited military strike would drag the u.s. into this murky civil war. on the other side of that, a limited strike does not go far enough some say. what is the balance to this attack? what can the u.s. to to make it effective? >> well, you have hit at the crux of it here. that is the question that i think is hanging of people in congress. as you know, senator mccain wants this to go forward. he succeeded yesterday in getting language but in that said the intent of the u.s. is to change the momentum on the battlefield in favor of the rebels. how do you do that? if you're just doing a limited strike that is meant to degrade the ability of assad to use chemical weapons, you have said to more than just hit military headquarters, intelligence headquarters. other people argue that if you are hitting his helicopters used
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to put troops on the ground, hitting missiles, you are going forward. secretary of state john kerry argued this yesterday. he said that we will be doing more than just sending a message, but he does not want to go as far as taking a side in the civil war. a very difficult path to go down. i don't think they know exactly where they want to go. the pentagon is expanding its firepower. they do want to use long-range bombers. president assad is hardening his targets there. so there is going to be more targets to hit which is already spending beyond what they said just last week. ashley: and to president putin point, how do we know what the makeup of the rebel forces? john kerry says maybe 15 to 25 percent could be considered extremists, but it all seems rather vague. >> i don't think that a lot of people have a good handle on exactly how many of the rebel
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forces would be considered extremist. people have to consider the fact that even if it is 45%. they are effective fighters. at this point they are more effective than the ones with the u.s. of backing in a lot of areas and have the ability to expand. the u.s. is trying to find a way to imply that more pro american forces, but that effort has been slow going. they still need to do a lot more to empower people on the ground so that they can tip the balance of power, even among the rebel forces. ashley: definitely a complicated act. thank you for joining us. we appreciated markets should continue to grind higher supported by improving economic conditions. director of investment joining us now. you say, for investors to lower long-term minded syria should be looked at simply as a buying
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opportunity. >> well, that is obviously operating on the assumption that the near term issue does not disrupt the global economy in a long lasting late, which is typically the case for the majority of the interventions that we have seen in the middle east, other wartime efforts. eventually the problems dissipate and we get back to more normal operating environments. that is the case, long-term minded investors should simply look at the earnings power of the company they are investing in, recognize that the valuations are now are relatively fair. take any decrease in valuation as an opportunity to get things cheaper than they would otherwise. the operating assumption is that markets would back off on that news. basically a reflection that some investors somewhere will need extra liquidity terry knows the near term times and will put pressure on the market just for a temporary time.
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ashley: with that in mind, we not only have syria, the fed tapering, congressional budget battles and so on as well as global economic -- at least a slow economic economy. how do you position your portfolio? >> we think that investors need to be optimistic. they need to be constructive, but not overly aggressive. that means not necessarily hiding in cash and treasuries, buying equities for a portion of your asset allocation, but be thoughtful as to what you are doing. don't just go chasing after the highest yielding more fastest-growing. right now is a particularly good time and opportunity to invest in companies with high profit margins and large free cash flow in yield, basically getting a valuation discount and large profit margin. that is available in companies that have dividends, the ability
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to pay and grow on a long-term basis. we find particular opportunities for that in technology, industrials, as well as health care. ashley: you also like microsoft. they just spent $7 billion on nokia. what did you like the stock? are you concerned? >> first of all, microsoft is meant to be example of that idea of the high free cash flow, low profit margin company within the technology space that is attractive. eleven times earnings, free cash flow and operating profit margin machine. putting aside concerns for the transition. when things are happening like that, a major acquisition announcement, their thoughts on the company itself, as they always do when you have any major changes. the valuation opportunity is still there. there is an underlying operating assumption that the company will
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deploy its cash correctly. ashley: very good. great information. thank you for joining yesterday. >> thank-you. ashley: all right. blackberry looking for a buyer. take a look at shares popping on that news. nearly two and a half%, up top 11 box. meanwhile, could a strong jobs report cement fed tapering? details ahead. first, as we head to the break, here is a look at the oil market rebounding today. $108.26 per barrel. we will be right back. ♪
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deal road show, reintroducing themselves to wall street. maybe you guys have the story wrong. the senior network committee we did have the story wrong. really they said the company has cost controls. under way. some pricing power. they also call their product the best quality in north america. we should make the distinction, and is under the police assault. global climate change. we will see. energy poverty, emerging nations and sank a listen, we are just getting in the game. don't make us stop now. ashley: to they export a lot of products? >> a lot. over the last decade the big market. i think we're at the bottom.
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looking for some nice movement. right now it's about 150. it a tremendous amount to the upside. i am glad there on it. i am in it already. we are getting waxed pretty good. above 15i think the stock will attract more buyers and upgrades ashley: keeping the faith. stirring to. thank you. all right. time for stocks. let's send it down to nicole petallides at the nyse. >> reporter: we continue to follow the blackberry story. it used to be a behemoth. more than half of the u.s.a., the you're looking at the web or doing any mail. since then the competition has been so intense. they tried to turn it around. now looking, the stock is
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reflecting that. we will see him maystadt been. will it be a computer maker, tech companies, smart phone companies. it microsoft is likely to be out. ashley: thank you very much. initial claims hovering near 5-year lows. will tomorrow's all important monthly jobs report bring more good news for the labor sector? meantime, walmart employees walking off the job. mounting strikes in 15 cities. we will have the very latest on that. as we head to the break, let's take a look at how the world currencies are fearing against the dollar. the euro, the pound, the yen. all moving lower. we will be right back. ♪ clients are always learning more
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♪ >> reporter: 21 minutes past the hour right now. hi, everybody. i'm jamie colby, and this is your fox business minute. if egypt interior minister says his convoy was started by a large explosive device in eastern cairo. he escaped unscathed saying for other cars in the convoy were damaged and 22 people wounded. another sign of easing tensions between north and south korea. the two sides agreeing to restore a hot line used to coordinate across the border travel. an industrial park scheduled to reopen. north korea cut the line in march when the country turns to launch nuclear strikes. and my angelou is this year's recipients of the literary and award. it is all about an honorary award from the national book foundation.
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the 85-year-old poet and author has been celebrated everywhere from the grammy awards to the white house, but it is our first major literary prize. the award will be presented last month, and those of the news headlines on the fox business network. i'm jamie colby. back to you, ashley. for a minute i thought it was libertarian. ashley: much deserved, absolutely. thank you. well, jobless claims falling to a near 5-year low reinforcing the idea there is a labor market come back. joining us with what we can expect on tomorrow's report, the last before the fed september meeting, the ceo of manpower group. what are we expecting tomorrow? any big surprise, up or down? >> i think it is pretty unlikely. you look at consensus numbers. adp, i as sam. if we're going to get as surprised, it would probably be
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on the upside, but still marginal. when we look at our own business, what is happening, the areas in which we're seeing growth, there is this kind of continual clawing and walking forward of some slight improvement. we expect to see at. ashley: i increasingly here that we are adding more and more part-time workers. the structure of our jobs, economy changing? does that speak to the health of the economy? >> it is clearly an issue. i'm not sure how you get around it because what is happening, companies of all kinds are reacting to what is galling to happen next. i would also like to be clear that there is part-time and temporary. we would expect to see a fair amount of the job growth.
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when you looked at what is happening in the companies themselves, they are not going to be seduced into the bitter labor numbers. they are looking specifically at their book of business, demand, and the forces on their own company. they're not going to hire in anticipation. ashley: who is hiring right now? which sector in particular, and are there enough workers to fill the jobs? >> a great question. you get this conundrum. how can we still have on employment. let's say it comes in at seven and a half. we are seeing sectors hiring. business and professional services. the one that is most interesting , we are starting to see in our book of business this wholesale and logistics' pickup which is a good sign. that is a precursor to possibly some other things. companies are still struggling. part of it is geographic. still confidence in the
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workforce. there will move and find themselves out of work. that is creating the skills gap. technology is playing a role. harder to be an entry-level employees. ashley: we hear a lot about the large number of people that have simply given up looking for work. >> the looking for work apart is still not the part that we are assuming coming back. it needs to be more appetizing. better wage inflation. you need to see more confidence that this will be lasting. that kind of invisible work force if we go all the way back to it greenspan, it is still there. if it does not come back, it will weigh heavily on the cost side of government programs, so we need more demand a more predictable demand before we start to see that newly created
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disgraced / invisible work force come back in and be productive. ashley: great insight. thank you for joining us. we appreciate it. >> thank you. ashley: forget about falling prices. the very latest on walmart employees strikes that could force the change. first, as we take a break us take a look at some of the day's winners on the s&p. still in the green. police here on the upside. we will be right back. ♪ you know throughout history,
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ashley: time to look at stocks, nichols said police standing by on the stock exchange look at the movers. nicole: a lot going on, straight days of gains, forget the web nine points, we haven't seen that since july, lot of names on the move, walgreen's, and grewon, sales numbers really in effect everybody doing well with the pharmacy. in manhattan every three corners, in case you know them, netflix which goes from above 300 is back to this 300 level which rbc put a 330 target on it, that one outperform, yahoo! a new logo but more importantly the chair on wall street, bill ackerman, he is getting out of j.c. penney. is getting into yahoo!? that has been the chatter on wall street all day.
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stock isn't doing much, watch the story everywhere and groupron, morgan stanley raising with a $14 target up from $11 and this has an effect most of the deals of long-term deals, 50% have been long-term deals, haven't seen growth in their mobile so that is good as well, mobil was up 20% from two years ago. ashley: we will be back to you in 15 minutes. keeping an eye on wal-mart stores, part of a growing movement focused on raising wages and improving conditions for some of the country's lowest paid workers. liz macdonald is on the store with developing news. liz: breaking news, making change at wal-mart, the activist group including union members have put out a statement saying the the new york police department has arrested three individuals affiliated with the
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protests in midtown manhattan, trying to bring a petition to co. board member christopher williams who runs an investment company, he is a board member at walmart. this is being treated not as basically firing up the letter is unknown with protesters affiliated with this. walmart coming the crosser business with a statement about the protests today essentially saying it is being orchestrated by handful of unions that the vast majority of workers are not affiliated in any way with the protests and a black friday protests after thanksgiving, just 100 walmart workers out of 1.3 million, those protests, wal-mart is saying this is made up primarily of union members, stores in 15 cities and made of union activists so we are seeing is tracking this story throughout the day from coast to coast protests being waged
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outside wal-mart stores in los angeles, sacramento, you are also going to see boston, chicago, and what they need is a wage increase of $20,000 a year and they also want to essentially get reinstated, 20 workers were allegedly fired because of the black friday protest, disciplinary actions against workers affiliated with the black friday protests, these activists want that reversed and walmart telling fox business of big majority of workers already make $25,000 a year. i will give it back to you, tracking this developing story throughout the day. ashley: walmart workers not the only ones asking higher wages. last week fast-food workers hitting the picket lines asking for more money. if these workers get their way what kind of impact with higher wages and on the economy and the companies they work for?
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capital management in person to talk about this and the economy in general. this is a real talker right now. thanks for being here. what is the impact of this? we were talking to austin in the studio, these companies make big money, workers don't get a lot of money, what is wrong with giving them a little tight in wages? >> they do make big money but there are two part of the argument, there is the labor force and if you increase wages you reduce the amount of jobs, most economists will tell you that but look at walmart, have done an amazing job developing low-cost products to consumers, same with mcdonald's. if you increase wages the cost of their product goes up. the union's argument is flawed. they are not looking at the whole picture. if you increase in the costs and increase input costs of meat for hamburgers or oil in wal-mart store the prices go up so it is a short-term argument. ashley: stores could close. more jobs would be lost. >> more jobs would be lost, less employment and think of the technology we have today, look
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what happened with the auto industry replaced by automation, you can put kiosks in mcdonald's and less people at the checkout counter. the social argument is it is not a living wage but most of these are part-time entry-level jobs, not meant to be life sustaining jobs and if you want to make more money like all of us try try to move a ladder. ashley: gets you started in your first job, not a career. this, expand a little bit if we can. with the economy in general, drivers of the economy, housing turned around nicely, lately perhaps a little iffy but the automobile sector doing very well the i get the feeling polk of those sectors are slowing down a little bit. what does that do to the economy? >> the housing sector did just a higher interest rates. what we're seeing an interesting statistic, jumbo rate is equivalent to the 30 year fixed so there's confidence the high end buyers are coming in so there is reaction, the ten year pushing 30% today.
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ashley: what is that telling us? >> because of this good economic news, and employment numbers this week, the tapering program could accelerate and we have interest rates potentially going up but that reflects a healthy economy. the housing sector has a lot of legs to, due to the home builders and suppliers, maybe not the financing tycoon's despite higher mortgage rates, we are at lows in some parts of the country and pent-up demand similar to autos a lot of pent-up demand, great competition from ford, ford about to surpass toyota and you're seeing a healthy sector that rationalize with less workers delivering a good product. ashley: you mentioned the fed and the bring and the big jobs report tomorrow not expecting any huge surprises. on the downside we could but could see react and what is going on in washington delay capering in the short term? >> i hope not because you would think the fed is not responding
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to a short-term capital market moves but there are theories that that is not the case anymore and maybe they're reacting to capital markets but short-term volatility when the missile launch did to potential budget battles, this will be a short-term issue, longer term is the economy and earnings are accelerating in many segments, energy out of housing. ashley: as far sector goes do you like tech? may be financials, regulations they have to live by but those are two sectors that show good growth? >> financial grow because of a low bottom. i would prefer technology because there is a lot of lack of visibility in financials, a lot of uncertainty regulatory, enterprise technology, a lot of revolutionary things going on in the cloud, software is a service and also end of demand from companies that held back on capital expenditure due to a slowing economy and we see companies provide software that held vertically integrate core
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petrochemical industry for example making things more productive. we saw productivity numbers go up because american companies in that space make a lot of smart systems, people control things with keyboards, not levers and ranches. ashley: i want to ask about emerging markets taking a beating but there are those who say now there's an opportunity. >> not as a whole. people putting money in the broader aspect clash, different stories in brazil, asia, in eastern asia there will be most of the appeal because they are linked to the u.s. consumer and a lot of ways. ashley: thank you for being here. ok, time warner and cbs finally landing a deal but guess what? two of its tv tie-ins may soon be at war and speaking of the battle gridiron great leasing the and putting on a patch as the nfl season kicks off. we will take you to the companies that is cashing in on their protection as we head to break, let's look at those treasury markets we're talking
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about. end a 3% mark under 8 basis points in the long bond also of 3%. we will be right back. [ male announcer ] imagine this cute blob is metamucil.
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and this pk is the inside of your body. see, the special psyllium fiber in metamucil actually gels. and that gelling hes to lower some cholesterol. metacil. 3 amazing benefits in 1 super fiber. >> jpmorgan chase, the biggest u.s. bank, stop making new private student loans, telling
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fox business it will stop accepting new student loan applications on october 12th. competition from federal government programs limit visibility to grow the student loan business. the i s n survey of purchasing managers showed the service index climbed the 58.6 last month up from 56 in july. any reading above 50 indicates expansion. that pace of growth near 8 year high. boeing sees china's carefully dripping over the next 20 years. according to the annual sales out of china will need 5,580 commercial aircraft worth some $780 billion between now and 2032. that is the latest on the fox business network giving you the power to prosper.
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ashley: cbs went back on the air after a month of black out in a
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fight with time warner cable but the next big cable clash already peer. dennis kneale joins us with the skinny. dennis: one of the most recent times i had the word skinny. the next cable flash in the wall street journal talking about it, espn versus dish network and this could be more bitter and lead to going black even longer than four weeks of cbs so why would that be? you have a dish and charlie, the ceo, cantankerous and recalcitrant. these guys are willing to let channels go dark and say heck with you. last year in a dispute with amc, the walking dead network, they had that channel and its hit shows state of fear four months but espn wants to have a big negotiation and obviously push for a price increase never mind that it is the richest channels so when you have a dish, this
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recalcitrant cry, espn owned by one of the most powerful media companies in the world, disney and another commentator for why this fight could get better, included fees for another network, disney's abc, the big broadcaster, cbs just got this huge fee increase from time warner cable after their bitter fight so if you are a fellow broadcaster like cbs you want to say you got to pay more to our stations sell all of these were coming together to make for a real tough fight and now that i have said it -- ashley: who has the upper hand? >> what we are learning from these recent deals is content creators have the upper hand, more people to sell to. carriers have lots of people to buy from but if you are a big brand like espn it gets $5.71 a month for its package of channels per home permanents, cbs getting $0.88 by comparison
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even though cbs is watched by five times as many viewers so this is a big clash. the only thing that needs to be solved is i predicted the fight will -- really quickly. the contract expired at the end of this month and that is only a couple weeks from now. ashley: putting on the gloves already. stocks, allen bell does standing by, it is the quiet day but we are looking for a third day of gains. what do you think? >> we are treading water but everyone is waiting for the big jobs number. the markets three days in a row, and 1657 all good signs and you will see a good number that may not be exactly what the market wants but we have a strong jobs
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numbers that might indicate capering coming down, you might see a dead tomorrow. ashley: a lot of talk about the yield on the ten year but historically still pretty low. >> without a doubt. 29, it is getting up to that, it is still low but enough to cause jitters down here and you will see movement that the market into those bonds. ashley: thank you for joining us. in the baltimore ravens take on the denver broncos in the first regular-season game every player on the field will be wearing required 5 pad for the first time since the early 90s. jeff flock is cashing in on this new role. jeff: the pad of choice and i will show it to you right here. aaron who is in good shape gives us look at these new fiat had made by company called mcdavid.
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the guy who invented, not invented but actually popularized this technology, what do you call this? >> it is a system of individual cells that are laminated to stretch fabrics that can be molded to any part of the body. >> players love this. this is an elbow pad and actually you have nba players interested too. >> the shin pad is developed for the boston celtics and is worn by every nba team. >> i got to tell you the cool thing about this, follow me down the hall, they also do the manufacturing here for markets in japan and china believe it or not. >> quality believe it or not in those markets is paramount. >> deliver quality that they can't. >> we are able to control the quality to a degree that satisfies those markets. >> look at stocks around
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football season, football season is huge and take a look at this fabric. this is interesting stuff, this is the way it looks, this is what it looks like when you eliminate this to actual fabric. >> we start with a piece of foam and put it through a roller press, agreed the individual pad that we have laminated to the garment and transfer machine and separate them. >> i want to show you what it starts out with an ends up with and the individual foam pad looks like and wanted goes through this process may i interrupt you one second? it gets formed this way and you actually at the fabric to it. >> that is the back end of the fabric. the live elements of the foam we want to have eliminated to the garment itself. >> proprietary technology. >> the most important part of the technology is the foam in itself. we have to be sure that low foam
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has tremendous heat stability because in today's football environment the equipment managers are watching and drawing these pieces, very high temperature. >> these pads required in the nfl for hips fis and knees. before we get away these are nba pads, everybody is looking to be protected these days. these folks are doing well. ashley: i need those for our morning commute at grand central station thanks so much. morgan stanley making a very bullish call on the s&p 500 employment numbers derailing. we head to the pits of the cme for the trade with sandra smith, let's look at the winners on the nasdaq. all the major exchanges up slightly on this holiday day but we are in the green, we will be right back. ♪
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nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.
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ashley: morgan stanley making a case for the s&p falling for a big growth over the next year despite record shattering move as we have already seen. sandra smith has the latest from the pits of the cme. sandra: we are talking about 11% jump, and in morgan stanley, a year from today we are going to see the s&p 500, the high
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percentage chance, 50% chance of that, they are calling for a 23-27, 20% chance of that and to the downside, 20% chance of 1352 for the s and p. whether they looking at this? when the s&p 500, economic growth, stabilization, emerging market, the risk to this possible best case scenario, stronger u.s. dollar, higher oil prices hurt the economy and marginally higher interest rates so there are a few things that could derail the rally, the most likely scenario, the same day next year, back to you. ashley: we will see. thanks so much, appreciate it.
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raising questions about what the fed will do in this critical meeting in two weeks. senior economist michelle ng gerard breaks down next with cheryl casone and dennis kneale. stick around, don't miss it. [ male announcer ] sheets or bar? how do you get your bounce?
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dennis: i am dennis kneale. gerri: i am cheryl casone. president obama in russia at the g 20, the biggest item whether to use military action in syria. a senate committee passes a resolution to attack, and we bring you the latest from washington in moments. dennis: a big week for the economy. jobless rates falling but the big news is out tomorrow, the employment report, expectation in july, fewer than 200,000 jobs created last month will the fed continue the money printing?
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cheryl: a worker walkout at walmart, 15 cities workers demanding a living wage and no surprise, organized labor is behind this. liz macdonald going to break down with the bottom line. time for stocks, to the floor of the stock exchange with nicole petallides and the s&p, pulling back a little bit. diane: we are not off of the line. a third day of gains would be exciting, absolutely right if we were to have three straight days of gains for the dow jones industrials for the s&p 500. we haven't seen that since july so right now the dow was up 13 points, bank stocks doing well and retailers giving a strong u.s. dollar, other names on the move in the tech realms such as blackberry, takeover talks, yahoo! with investment of ackerman and pershing


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