the market is down. stuart: let's see what dagen and connell think about this. dagen: i'm back with connell mcshane. i don't know what to do with myself. connell: stuart, thank you very much. have a good one. dagen: i'm dagen mcdowell. connell: i'm connell mcshane. are you better off than you were four years ago? democrats on the defensive on this very question on the first day of their convention in charlotte. mitt romney is making it a theme to his campaign now. and karl rove is going to be here, saying the democrats cannot win on that key issue. dagen: while the democrats gather in charlotte, our national debt is about to hit, watch it, 16 trillion dollars. can the republicans capitalize on this even though their get-together is over and done with? connell: plus a big thumbs down for facebook. look at this, shares hitting yet another all time low. dagen: it's the top of the hour, stocks now and every 15 minutes. nicole petallides on the floor of the new york stock exchange

watching facebook. nicole: we talked about the ipo on may 18th, 38 bucks. here it is right now in the 17 handle. we were watching it hold the $18 mark, only to see it break down below that to 17.58. i mean look at that intraday chart. so shareholders become disappointed once again and so you do have some of the analysts out trying to talk positively. jpmorgan for example cut their price target to $30 from $45, but remain upbeat, talking about ad revenue that will reaccelerate into the back half of 2012 to 2013. facebook shareholders had hoped to see it at $38 and see it go higher. we will see whether or not jpmorgan is on call here with this one. but for today, a new all time low for facebook. back to you. dagen: thank you for that. connell: we're going to talk about facebook here before we get to the politics here. mike santoli, associate editor for barron's starts us off.

is it fair to say whose fault is this since the ipo? >> there's plenty of fault to go around. one thing that never gets mentioned and i have been saying from the beginning we have been bearish on facebook. i think a lot of people have correctly been since it became public. almost waited a year too long to go public. because it was almost too mature and too much of a real business, when you are just nothing but hopes and dreams, like very early stage companies are, you don't have to worry about really showing it right away. and they do. so i do think it was the fault of wall street getting this 100 billion dollars market cap figure in their head and the company. you know, i know there's a lot of talk about the cfo, instrumental in all of this. look, too much stock, too high of a price, hit a market that was not willing to believe all the hype. dagen: should the company even be public? we know the reasons why companies go public, to let their early investors cash out, which they have done, which was another warning sign the number of shares being sold just on the offering and in the weeks after. >> i honestly think at this

scale it would be unusual for a company of facebook's size not to be public just because you really almost need that potential liquidity for employees that you are hiring, giving them stock, and basically as a benchmark of kind of what your achievement is. they could have waited even in longer. they don't need the capital obviously, but i do think it makes sense for them to be public. it's at what value and what price. this's something i think the market hasn't figured out. >> sometimes when you have these conversations that go on and on, you think this company must be going out of business, but obviously facebook is not. is the business okay even though the ipo was just a disaster in terms of pricing? >> the business is okay. i mean, look, it is making money. it is obviously -- you know, a lot of companies that are public less than a year aren't close to making money. it's making money. the problem is it saturated? can they figure out a new way for new revenue streams? and at some level the stock makes sense as well. dagen: at what level does --

>> i think not too far below here. when you get toward $15, if it gets there, i think you will see a lot of people -- [inaudible]. right now it is in this weird zone where growth investors are not happy with the growth outlook yet it's not cheap enough on paper for value investored to get involved. linkedin is only one third of the market value of facebook. are you telling me it is worth one third theoretically? dagen: really quickly though does it hurt morale, does it hurt hiring, does it hurt the company's growth because the employees have to sit there and watch the stock? all the ceos always act like it is not a big deal. >> it is a big deal. it's overhang on psychology. i don't know p it's instrumental -- i don't know if it's instrumental for the future, but it doesn't help when you see apple going higher every day. dagen: mike, thank you. connell: as the republicans keep asking the americans this question, are we better off than we were four years ago? the democrats today are preparing to make their case

re-electing the president, their convention gets away. dagen: peter barnes is live from that convention in charlotte north carolina with more. peter: that's right. republicans are taking this fight to the democrats here in north carolina. paul ryan coming to north carolina yesterday to try to capitalize on this emerging theme for this campaign, take a listen. >> the president has no record to run on. in fact, every president since the great depression who asked americans to send them into a second term could say that you are better off today than you were four years ago except for jimmy carter and for president barack obama. [applause] peter: and the democrats trying to get their footing on this issue. joe biden yesterday telling a crowd of auto workers, you want to know whether we're better off, i've got a little bumper sticker for you, bin laden is

dead and general motors is alive. connell: thank you very much peter. our next guest is from the convention hall today. michelle obama is really the headliner speaker tonight. julian castro will be the keynote speaker tonight. let me ask you governor the key question that everyone seems to be talking about the last few days. are we better off than we were four years ago? >> i can only speak for north carolina and what's happened here. a little more than four years ago we were in charlotte watching wachovia collapse, a major financial institution in america. we saw tens of thousands of jobs lost because of the worst recession since the great depression. right now granted there are a lot of people in my state unemployed and i understand how hard it is for those families, but at the end of the day, after 29 months of consecutive job growth, we appear to be coming

out and that puts us in a better place philosophically so we're on our way out and i think all of us in america have to remain optimistic and focused on job creation. connell: if things are getting better and if they are getting better in your state which the president won last time around and it's gone to be very close it looks -- and it's going to be very close it looks like this time. why aren't you running for reelection? >> i'm not running because i'm going to focus on educational technology which i choose to do as my life which i think is the most transformational thing to happen to colleges and universities probably more than a century. that's where my energy and expertise is going to be. north carolina is one of eight triple a bond rated states in the country. we have created 100,000 jobs, locations here in the last three years. 16 billion dollars worth of investment. our biotech is red hot. granted we're going to continue to focus on workforce training and reemployment issues and try to find jobs for all of our underemployed and unemployed folks. connell: most of the people look at what would have been a

potential race for you even though you say you are not running it would have been a tough go, for president obama this time around, even though he won last time, looking at the polls right now, i was just looking before we were talking and it is romney up, again very close, but leading more towards romney than obama. what does president obama need to say about north carolina? >> we're here to energize and excite our base and talk about our issues. we are ready on the ground. we have registered thousands and thousands of people all over north carolina. at the end of the day, folks in north carolina have a clear choice as they do in the country. you can either go forward or go backwards. you can go back to what got us into this fiscal mess in the first place and with the the former administration or you can go forward and continue to invest in the future and -- [inaudible]. >> is that the theme, hey we really inherited a mess from president bush, in other words continue to blame president bush

this week, or is the tone of the convention going to be different than that? >> i don't believe the tone of the convention is about blaming anybody. i believe the tone of the convention and all of us here is one of really acknowledgment of how tough it is in america and how tough it's still been, but this is the greatest country in the world, that's why we're called americans, that's why we're so proud and we all believe that better days are there for us if we work hard and get an education and go to work. connell: governor perdue of north carolina, the state that's hosting the democrats this week. thank you, governor. >> thank you. dagen: karl rove is coming up. he will tell you why he thinks the democrats cannot win on the question are you better off now than you were four years ago? connell: plus, we're going to be live in louisiana, there's still evacuation centers for plenty of people following hurricane isaac last week. hundreds of thousands still without power. dagen: we will show you tiger woods nine figure record. that's right. nine figures.

but first let's take a look at how oil is trading today.

connell: time to make a little

money with our friend charles payne. dagen: look at that man always decked out. charles: thank you very much. the market getting hammered a little bit scary here this week. i'm looking at this company, recently they had their first bump in the road, reported earnings report that came in below street expectations. the stock got hammered pretty good. but they have some good news beneath the surface. they had deferred revenues up 21%. they have a cloud play with google. another cloud play platform. they are buying back stock, and this morning i thought it was pretty interesting because they got two upgrades. i'm not sure why, what they said, but they got overweight and outalso an outperform -- and also an outperform. it looks like you might get a pretty good trade here. connell: from 33 up to something or other? charles: you know, a little bit of resistance at 35. from 33 your next big move is to 40. connell: i was going to ask you quick question, not to take attention from this stock, but about the general market, your first comment you quickly said kind of scary here. what do you mean? charles: we're breaking down

pretty good. you know, technically we're starting to break down a little bit. everyone is back. if wall street is not happy with what they see this week, or let's say we get money printing on both sides of atlantic, that doesn't work, we get inconsequential jobs report, we could give back the summer's gains. it is dicey. this is make it or break it week i think. it establishes a lot of things in politics, the economy, the stock market. i think before the week is over, we'll -- dagen: make it or break it month for the year. charles: absolutely. connell: thank you charles. speaking of the market, let's go back to nicole for stocks now. a lot of red certainly on the screen so far. nicole: that's right. when you look at the 13,000 mark, we have gone below that this morning, 12,994 with the dow down almost a full 100 points right now. loss of about three quarters of 1%. much like the nasdaq. s&p 500 is best of the bunch, down about half percent but below that 1400 mark so that's

something people watch. sort of psychological levels, technically. but all right now let's take a look here at a mover. looking at both netflix and amazon. that is because netflix used to have a deal with a company. that deal ended. they are working on a deal with amazon. right now amazon is pulling back. but amazon has been a clear winner investing hundreds of millions of dollars into content. in the meantime netflix is down about 8%. as one beefs up the content, the other one suffers some. back to you. connell: all right, nicole. dagen: is our country in worse shape today than it was four years ago? we're going to talk to former deputy chief of staff under george bush, karl rove. connell: also go live to louisiana. estimated 50,000 residents still without power after isaac tore through that area. all that is still ahead. first a look at some of the world's currencies on how they are faring today against the dollar. [ male announcer ] it's simple physics...

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>> at 20 minute past the hour, i have your fox news minute.

syrian activists say roughly 5,000 people were killed in august as a result of the uprising there. while u.n. officials say 100,000 people fled the country. lawyers in the peters murder trial will make their closing arguments today. -- peterson trial. the 2004 death was treated as an accident until peterson's fourth wife vanished in 07. and buying organic may not be that much better for you. a study out from stanford university finding organic produce and meat, typically isn't any better for you than conventional food when it comes to vitamins and nutrient content. it does generally however reduce exposure to pesticides and antibiotic resistant bacteria. those are your news headlines on the fox business network. back to dagen. dagen: thank you, julie.

there's still 7% pesticides on the organic food which was crazy. >> it is more expensive but it makes you feel healthier for some reason when you eat it. i don't know. dagen: that's true. you need income? you are not going to get it from bonds, certainly not treasuries. where do you go? in the stock market. senior portfolio manager at tcw. your specialty is dividend paying stocks. are there any certain groups you like right now? >> we like -- we're definitely overweighted in energy, industrials is very important, and consumer discretionaries. surprisingly you can get nice dividend payers from those groups. dagen: how nice and how expensive are many of these dividend-paying stocks compared to where they have been historically? >> you have be wary of utilities and real estate investment trusts. they have been the go-to place for so long that they are really above historical highs. dagen: convince me though because so many people owned

financials and you were supposed to get some sort of down side cushion from the dividend payment and the financials four years ago blew up in peoples' faces so it is not just that, but it's been essentially a 12-year bear market that's driven people out of the stock market. you have to convince me -- and you see it -- people would rather have very expensive treasuries and get paid nothing to own them than own dividend-paying stocks right now. >> luckily the tcw funds have been seeing inflowing on the dividend focus funds and our equity products. i think there's a client bull market going on. you have to be very careful. you have to be select. financials have disappointed. a lot of deleveraging going on. don't forget we are about two years ahead of europe. european banks will take a long long time. end of 2013 the u.s. banks should be deleveraged and get to where they need to be in terms of leverage. dagen: what area of the stock market are you seeing the biggest dividend increases?

>> the big surprise is technology. you know, this growth industry in the past has been all about saving their ammo for acquisitions and new products. you know what? they are at a point in their life cycle where they need to start paying out their cash flow. you saw it with computer associates, cisco are names that we own that have very nice dividend and they're increasing. dagen: you mentioned consumer december krigs -- you mentioned consumer discretionary, are there any particular ones? >> across the board. you can get it comcast 2% dividend yield. home depot, 2% dividend yield. dagen: it's astonishing to think that's what you can get on the dividend yield given what people are willing to take from the federal government and remember you are loaning money to the federal government when you buy treasury bonds. good to see you. thank you very much. come back very soon. connell. connell: is the economy worse off today than it was four years ago? that's one version of the question of the day or the

question of the week. a new poll out says yeah, it is worse. we're going to be live at the democratic national convention in charlotte. karl rove will join us coming up on that question. stay tuned for that. much more still ahead as markets now continues. here are some of the winners today in the down market in the s&p 500.

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publicans at winning strategy by asking are you better off than you were four years ago. the next bailout funded by your tax money. kc mcfarland will tell us if that is the right thing to do. and how tiger woods became the first golfer ever to win $100 billion on the lpga tour. dagen: in facebook stock, remember this company that went public at $30 a share? 1771 day. the low, remember this company since the spring. $17.58 a share. connell: down by 90 points on the dow jones industrial average.

nicole petallides is back. >> mcdonald's in india, 50% vegetarian base because of a big mac. vegetarian restaurant in the world for mcdonald's doing it in india. look at how stock is fairing. it is down 1/2% but basically trying to tailor the menu to suit the local peace which means no beef to avoid offending hindus as well as folks that are going there as well. so consumption of pork is prohibited so a new venture trying to localize and hit the local region. this is what they're doing first-ever for mcdonald's. they talk about taco bell trying to beef up their breakfast menu to take on mcdonald's globally. coming up with a new breakfast,

supreme rap they are doing. very unhealthy and trying to steal breakfast folks from mcdonald's. dagen: it is crunchy and fried. that is all i have got to do. a new poll putting president obama's campaign in a tough spot. is the u.s. in better shape now than four years ago? 54% say things were worse and only 31% said things are better. fox news contributor karl rove joining us from north carolina. good to see you. if that is the case what the polls show why are president obama and mitt romney in a dead heat if you look at all the polls put together. >> president obama is the

incumbent and the nation is divided. the interesting thing is the president has not been able to get above 47%. it is unlikely the undecideds will break that way. unemployment was higher and long-term unemployment higher. it is also that the economy is below what the president told us it would be. economic growth will be half of what the administration forecast. unemployment is 40% higher than they told us if we pass the stimulus bill. unemployment is higher than the administration forecast if we did nothing and didn't pass the stimulus bill. it is understanding you see the numbers as you see in the hills or other pills that show two of three americans think the president's economic policies have not help or have hurt the economy. dagen: talk about policies and

unemployment and promises that were made. in terms of all the economic numbers people can look at, gas prices over labor day weekend, north of $3.80 nationwide. the highest ever for this time of year but you look at the stock market the stock market says inauguration day the dow up 60% under president obama's leadership. the best first term performance since dwight eisenhower. what do people look at? some good numbers out there. >> there are good numbers. the stock market is the biggest one but the biggest number people may not be able to quantify but the biggest number that has an impact is personal income and median family income in a recovery has dropped from $55,000 per family of four to $51,000. that has a huge depressing impact on people who are employed and it has to be about the unemployment number.

if you at 8.3% unemployment even if you are employed if you are making less than your family income is not keeping up then you feel even higher degree so those two numbers more than outweigh the good numbers in the stock market. dagen: did republicans do a good job last week convincing people, convincing americans? mitt romney get much of a bounce according to the gallup poll. did they do a good enough job saying here's what the future's going to look like? look at that in four years? >> the convention is one of many and they did a good job. i quibble little bit about the bounce. this is only the second modern -- second time in modern american politics where the conventions have been back to back. normally we take full weaker two in advance of the convention and named a vice presidential nominee and have the convention and the week afterwards the american people have time to digest the convention and then have holes. we had no break between these

conventions. a better way of looking at this is what were the politics average before romney picked ryan and was 4% down for romney and where were we at the end of the republican convention? dead even. that is an indication what bounce there was but it is difficult to measure a bounce for either party because the convention by back-to-back. only the second time i can find in modern american politics where that happened. dagen: i raise this with you. voter on we across the board weather you are right or left or somewhere in the middle. >> if there is the president is not going to want that to happen because the people who are fired up and ready to go as the old expression he used in 2008 are the republicans and conservatives and knocked obama out voters. all the enthusiasm shows a big gap between the president's supporters and his opponents because his opponents are more enthusiastic as more likely to vote and we're likely to see

that play out in the next couple weeks. i'm writing my column for the wall street journal about an important critical to the president's election last time around, young people who gave him a big margin last time but are not going to give him as the margin this time and are not as likely to turn out to vote thereby costing millions of votes. dagen: great to see you. can't wait to read that when you're down there in charlotte. red and white sauce. thank you. karl rove joining us from charlotte, north carolina. connell: one more note in addition to the menu advice. mitt romney had a good month fund-raising. the romney campaign raising $100 billion in the month of august. that is from politico and the campaign likely to officially release the august fund-raising totals in the next few days but if this stays true it would be their third straight month that romney has raised $100 million. dagen: speaking of money the

u.s. freeing up money for each of to the tune of a billion dollars. is each of the country we should be paying even more attention to? absolutely. she is here to explain. connell: tiger woods making pga tour history. his new financial milestone and more market coverage. here's a look at treasury today. yield back down above 1.5%, ten year note. want to try to crack it? yeah, that's the way to do it!

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>> i am adam shapiro. bank index of these frank for the third month in august as new orders, production and employment all fell. the institute for supply management index fell short of estimates with a reading of 49.6. the index's employment component dropped to its lowest level since november of 2009. construction spending fell in july from june by the largest amount in a year. according to the commerce department spending slipped 0.9%. you as automakers with strong sales in august. sales for general motors of 10% on year over year basis. ford rebounded with sales up 13% compared to year ago. chrysler topped estimates as sales rose 14% from last year marking that company's best august sales in five years. that is the latest from the fox business network giving you the

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serve >> will be a big week for europe. market's closing up and ashley webster has the details. >> it promises to be critical. and the policy meeting on thursday. threat of a credit downgrade. week manufacturing numbers in the u.s. and this is what you got today. the ftse off 1.5%. and the back in frankfurt down more than 1%. and the outlook on the regions are negative for more than at downgrade could be possible. and the bond buying plan by fears they may be at a policy meeting and may cut interest

rates. and buying short-term sovereign debt reach e.u. roles. and short-term spanish and italian bonds. we see bond yields in both countries fall today as the euro hovered near a eight week high just down from 126 to $125.62. leading german bankers not happy with plans to give the ec beet supervisory powers. the go far from deutsche bank said oversight would work only if it cover a wide range of banks. not just europe's biggest but the german government and smaller banks. supervision should focus only on those banks considered systemically relevant. the u.s. reportedly close to finalizing $1 billion bailout to save egypt's battered economy. egypt facing a $25 billion budget shortfall and the u.s. doesn't want to longtime ally looking to countries for help

such as iran. more on that as we continue to follow potential bailout of egypt's economy. they're giving helped elsewhere in the region. cutter kicking and $2 billion as egypt grapples with its struggling economy. indy connell: did some great reporting. dagen: staying with egypt our next guest says no one is doing enough attention to what is going on in that country and that is very dangerous. connell: how dangerous is egypt? let's talk to casey mcfarland, fox news contributor. how about billion dollars in debt forgiveness? >> a drop in the bucket. egypt has the largest importer of wheat. to do that it needs foreign research and is winning out of foreign reserves. chances are it has enough money left to buy a month's worth of wheat. the saudis were going to bail egypt out but they don't want to do that anymore because egypt is in and of the muslim brotherhood.

saudis fear that is a political movement that would come to them. three things to worry about. the muslim brotherhood is slowly but surely getting control of all elements of power in egypt. egypt is running out of food. they have economic chaos. two years ago people went into the streets because they didn't have jobs. imagine what they will do without food. up. thing is egypt is moving its military into the sinai peninsula, the peninsula desert zone between israel and egypt which for 40 years has kept the peace between the two countries. what happens if egypt in an economic political unrest have troops on the border with israel? easy to blame somebody else for your problems. dagen: how does this go? is it still possible based on what we have seen out of the leadership there that egypt is turkey rather than tehran to use your example? >> that is the right way of thinking about it. egypt is writing a constitution and will begin at momentarily. will they write a constitution

that is a secular country which allows free e elections and protection of individual rights and economic freedom or will they go the other direction and be like iran which is in the clutches of the religious extremists? that is the worry that they are now amassing enough power. who is writing the constitution? the muslim brotherhood. connell: one last question. same as domestic politics. would each of to be better off with hosni mubarak? >> under hosni mubarak who had to go but there was economic growth. considerable economic growth. 8% economic growth. that is not the case now. what will happen next? just don't know. as a goes egypt so goes the region. dagen: thank you very much. connell: back to the markets. quarter until the hour as nicole petallides joins us from the stock exchange with movers.

nicole: we talked about netflix and amazon and mcdonald's. we have more here that we are following. campbell's soup for example which came out with quarterly numbers and actors they beat the street with earnings per share the stock jumped to a new high a new see it is virtually flat looking at profits but we did see it jumped up and game stop is the clear winner as well. analysts have been talking about this and goldman sachs with the mutual talking about having great opportunities going into the back half of 2012-2013 new games coming down the pipeline. morgan stanley with an upgrade and there's a look at j.c. penney which has been beaten down 25% to the downside. there were positive comments that may rebound to $28 if ceo ron johnson turned around with in six months. everyone is hoping for that and we will see if it happens. it is down 1-1/4%. dagen: september will be a major month for technology.

starting tomorrow nokia is out to announce its new phone and will include a new version of windows phone, tomorrow motorola pointed the showcase. verizon's latest bullet razor. amazon will unveil the new edition of its kindled fire cabinet and all of this ahead of apple's expect iphone 5 announcement which should come middle of next week. connell: tiger woods the first golfer to tee off more than $100 million on the p g-84. dagen: here are some of today's winners. those are the ones on the nasdaq.

dagen: nearly a week after hurricane isaac pound of the gulf coast power outages and flood threats still plagued the region. connell: in louisiana, kc. >> imus: a fema center, one of the areas that was the hardest hit trickling in and out of here all day signing up for federal assistance in hotels and

shelters. look at this video, just across the mississippi river. communities under water. the only way people can get to their homes is by boat but all the mandatory evacuation orders in the region have been lifted so folks are slowly starting to trickle back in and pull her through their belongings to see what is left and the sad reality is for some people it is not much. i want to talk about the energy numbers because it has been one week since isaac slammed ashore and a lot of people still without power. 95% of the states according to the energy company here 95% has been restored but if you are in that 5% you don't have power in your home which means no air-conditioning. it is so hot and humid from the flood and rain waters that have fallen on a region they are working hard to get people turned back on. another important thing here is

talking about oil production in the golf. it came to a grinding halt as it does any time a hurricane or tropical disturbance threatens all of the platforms and rigs out there have to be evacuated meaning we see an increase in gas prices all around the country. the initial numbers coming into a 58% of the gulf oil supply is still at a standstill as of today. that is the latest in new orleans. back to you guys. connell: thank you. a few quick sports headlines on markets now and tiger woods, first goal for with $100 million in career earnings after the third place finish at the deutsche bank 36 years old. five hundred forty-four thousand yesterday. two shots behind rory mcilroy who won so tiger has collected $100,400,000 in prize money.

vijay singh is second in career earnings. phil mickelson is around $65 million. dagen: the biggest chunk of that age. connell: michael strain and is adding a new job is resume as co-host of live with kelly. the seat has been filled by 59 guests and co-host's since regis' retired or left last november. michael stray and and -- kelly rep. dagen: every morning about 5:00 in the morning. he runs at me and there is confetti and balloons. even a little bit -- connell: nfl season kicks tomorrow. [talking over each other] dagen: i am not so much ready

for you. connell: andrew will be on the show tomorrow. the no. one pick of the draft. we will talk about the new season and the goal the has ford and everything else. dagen: how about winning a few games. a handful. commodities out performing bonds and stocks for two straight month. the longest streak in the year. connell: sandra smith at the cme. sandra: in fact not only are commodities being stocks and bonds but u.s. dollar and what we are seeing as we start the month of september is blocking riskier assets. you will see traders in chicago returning from holiday weekend. busy day on the floor. look at top commodity performers so far this year. this tells the story. we have the midwest drought and soybean prices up double digits. soybean prices gaining 50% so far this year. a bit of a suite with the best

performer the personal performing commodity in august a year to date up 15% and no surprise gasoline prices up 12% on the year. will discontinue? the back to today's prices and look at the top performing commodities in today's session. natural-gas and silver and koren not only seeing energy prices going up but grain prices going back again as well. in the next hour i will have a look at where big commodity areas including goldman sachs are going not only this month but the rest of the year. connell: markets roll along with more on the drought we're seeing on wall street and more up-to-the-minute coverage from the democratic national convention. dagen: dennis and tracy byrnes talk to senior financial services round table. he is coming up as they try to convince skeptical democrats to lower corporate taxes.

connell: markets below 13,000. rough economic data but a lot going on. [talking over each other] >> kelly rep but jumping into michael strand and's are miss -- didn't even say hello morning. [talking over each other] dagen: i don't know about that. [talking over each other] tracy: i am tracy byrnes. dennis: i am dennis kneale. are you better off now than you were four years ago? democrats on the defense of on the first day of their convention over the question romney is making a central theme of his campaign. the financial service roundtable

lines us from charlotte. tracy: timing is everything. elitist jobs report is due out after the morning president obama accepts his party's nomination. will the jobs report overshadowed the convention? dennis: facebook shares hitting a lower low. will the bloodletting ever stop? top of the hour. stocks every 15 minutes. nicole petallides on the floor of the stock exchange. nicole: traders talking about whether the giants game, whether it might overshadow the convention. i wanted to take a look at the dow sitting right on that 13,000 mark. we have improved some but we are down covering triple digit mark. we have a lot of dow losers. the market under pressure. the dollar's strong rand gold gaining on the idea we might get more stimulus and look at dow losers and caterpillar at united technologies and intel with the new price target of 32 that came down from 35. those of the dow names that are

pressuring the major index. looking at some other movers take a look at tivo and apple, the new target at $8.85 on avalanche tivo getting upgraded at j. p. morgan. tivo basically positive comments soviet c-net up 2.2%. one of the key reasons they gave it. tracy: the giants game was supposed to be thursday but they overshadowed the president's the moved to wednesday. [talking over each other] tracy: giants will overshadow everything. are you better off now than you were four years ago? democrats seem to be united on the answer to that question. mitt romney making this the key to his campaign and peter barnes joining us. no one can answer the question properly over the weekend.

peter: the democrats are finding their footing on answering that question which is reminiscent of ronald reagan's question of jimmy carter in the 1980 campaign but republicans feel they found a hammer here they can use against democrats particularly during convention week but we are going to hear this all the way up until election day. we heard it from vice-presidential candidate republican paul ryan yesterday and a response from joe biden. take a listen. >> we will hear a lot of words from charlotte this week. but here's the kind of word we are not going to hear. we are not going to hear evidence and facts about how people are better off. the president cannot run on this record. >> you want to know better off? usama bin laden is dead and general motors is alive. >> we can expect to hear this back-and-forth through the convention week.

we will hear it again from paul ryan when he speaks in ohio later today. tracy: the ongoing question in this convention. peter barnes and charlotte, north carolina. dennis: joining us from the democratic convention is scott talbot leave personal financial services round table. you are there to start lobbying for corporate tax reform. do the republicans and democrats have the same thing in mind when they say that phrase? >> they are a little bit apart. everyone is shaping up what corporate tax reform will look like. we need to do corporate tax reform to bring down the deficit. both parties are talking. simpson bowles is the most the agreed upon concept. all the mummy in the coming months and quarters will come to an agreement what we need to do. >> mitt romney wants to cut the tax rate to 25%. democrats talking actual corporate tax rate cut or just

want to find a way to make corporations pay more? >> at this point they are seeking producing the corporate tax rate as well as eliminating reductions. what you have to be talking about is not the stated corporate tax rate that the effective corporate tax rate. that is the key. dennis: tell me what you think the two or three key things need to be done that both parties agree on to help corporate tax reform. >> got to lower the corporate tax rate. the united states have highest corporate tax rate in the industrialized world making us less competitive. we need to bring down the corporate tax rate to attract investors and different corporations as well. we have to simplify the corporate tax code. a lot of extra provisions that can be reduced to simplify and make corporate taxes and individual taxes easier. reducing the rate and simplifying the deductions is the key winning formula.

dennis: as soon as we hear reduce the rate that will make some americans feel they are favoring corporations. do you guys want overall corporate tax revenue to go up to help balance the budget? >> corporations have a role to play in the economy and they should play commensurate with their earnings like everybody should pay in terms of how we are structured. in terms of lowering the corporate tax rate increases jobs and that helps americans. by lowering the corporate tax rate you help the economy and individual americans and that is the key to getting the economy started again. dennis: overall should there be an alternative minimum tax so every business pays a minimum tax every single year? >> alternative minimum tax is a way to keep the effective tax rate high. if you lower the rate and make it simple that helps attract corporate investment and corporations. alternative minimum tax is a backdoor way of making the code

more complex and keeping the effective rate high. we are not for alternative minimum tax at the corporate or individual level. dennis: are you corporate tax reforms that the amount of dollars collected from business goes up in terms of taxes? >> now you get to the nuts and bolts. we have to see what those provisions look like and the impact on individual sectors of the economy but let me say this. in general before lowering the rate we can be eliminating some deductions if done properly and that may result in an increase in corporate tax revenues but you have to balance that out. too much income-tax revenue from corporations and effective rate would be higher than that scenario and corporations will be no better off than they are now and actually see corporations leave the u.s. or make it better than the world economy. dennis: not to mention they will take the higher taxes and recommend to the prices we pay for their products and services. thank you very much. got out of financial service round table. have a good convention. they 6 tracy: is all about jobs.

latest jobs report outside friday morning the day after president obama officially accepts the party nomination. tricky timing for the president. we are joined by john brown of europe pacific capital. timing is everything but we are all really talking about this jobs report friday. what do you expect to hear? >> it will still be bad. it may increase or moderately decrease. who can tell? the basic rate of job creation is far below what is required to get the economy going and jobs are absolutely the key to the economy because consumer demand which is 70% of the economy depends on confidence and the key to confidence is jobs and the key to jobs is planning certainty and we heard the last speaker speaking the great uncertainty over tax rates and regulations and the huge fiscal cliff facing us on january 1st

by a totally irresponsible congress that threatens two million more jobs in the defense industry alone. tracy: we are hearing about lack of confidence for a while and no one has done anything about it and we are coming down to deadlines. the server 30 first is the big one for us and nothing has been done. wrapping these elections right now but do you think the election will make a difference? >> i don't know. there is such uncertainty to control? if ronny wins then i think there's more likelihood that something constructive will be done. at the moment we have an anti business government and small businesses are key to job creation. a government which will not control its spending doesn't even have a budget for the last four years. talk about uncertainty. not even the government knows what it is doing. it spews out tons of cash but all that cash instead of going into jobs is going into bank

accounts of individuals and corporations and banks. there's plenty of cash. what is required is certainty and that certainty comes from clear and firm leadership and greater chance of that happening is the from the win the election. tracy: all about demand at the end of the day. we can all be sitting on cash at this point but until there is a demand for the product that i make i don't have to make it any more. is technology part of the problem with this? >> yes. technology does eat jobs. the fact is if you look at one of the greater technology companies on earth one of the greatest companies on earth is apple. they have been employing more and more people. the problem is 80% of their employment is outside the united states and that is the problem. our education levels are falling. people willing to work hard in

the older generation unfortunately. a company like apple employees one out of five feet in the united states instead of a broad. that is the sad thing. it is much more than that in my view. is a factor of leadership and leadership creates certainty. the certainty will start -- [talking over each other] tracy: hopefully we get that out of this election. thank you for sharing this. dennis: breaking news. apple just invited the media to and event wednesday, sept. 12 in san francisco. could be the debut of a new iphone 54 new smaller ipad. amazon and google all introducing new gadgets to preempt that apple announcement next week. coming up we will show you how tiger woods became the first golfer to tea up over $100 million on the pga tour. tracy: gas prices leading democrats in charlotte. oil analyst john kingston and

have on whether prices are headed lower and by how much. as we do every day at this time let's look at how oil is doing. down right now $1.29, $95.20 a barrel right now. if you have copd like i do,

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news. nicole: whig will continueicole follow apple closely. invitations have been given out for next wednesday. san francisco will be the place and now speculation begins that the iphone 5 -- what we heard from analysts that we hear more about that. speculation is a bigger screen and faster processors and easier to type texts. i should also note that they raise their price target to $8.85 from 800 outperform the. chapel of the again today. dennis: the dow below 13,000 and it is time to make money with charles payne. the markets are asking what is

my motivation? charles: help me out here. what are you going to focus on? the ecb, the fed? the big number on friday? we had a pretty good summer but it was on extraordinarily light volume. volume has been light and light volume is a huge move and extraordinarily light this summer and skepticism and what i'm worried about is remember a couple weeks ago we saw the market and down 13,300, we haven't hit. and in a week, we have 13,268 ran out of gas and we had 12,100 by june 4th. a 50 day moving averages 12,986 were we are. that is pivotal from a technician's point of view. we drift below and the ecb says we will print money and the fed says we print money and it doesn't work and jobs numbers at

120,000 and no big deal. what is going to be the catalyst because it is obvious we have serious resistance and historically when you can't break out you fullback pretty hard at some point sooner or later. dennis: bad news could lead to the fed doing more and loosening up. before we came into the week with that notion. tracy: we see what happens. in terms of all that that money. thank you very much. this is an annoying story. tiger woods has become the first golfer to take out $100 million in career winnings on the pga tour. his third-place finish at the deutsche bank championship. 36-year-old tiger woods received $24,000 yesterday by finishing two shots behind rory mcilroy. he has collected almost $100,400,000 in prize money since turning pro in 1996. vijay singh is second with

sixty-six million dollars. phil mickelson in third place on the pga tour with career earnings of $55 million. at least phil is a nice guy. can't say that about tiger woods. dennis: gas prices soaring to a new seasonal high but john kingston says there's a bigger threat to consumers living in the energy sector. tracy: y voice mail is yesterday's news but first how the world's currencies are faring against the dollar as we head to break. [ owner ] i need to expand to meet the needs of my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen,

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>> 23 minutes past the hour your fox news minute. crews fighting wildfires in california says that it could burn for more than a week before it is contained. the rough terrain is full effect brush that hasn't burned in years. it is not known what started the blaze in the san gabriel mountains. the united nations says 100,000 syrians fled to neighboring countries in august. the highest monthly total yet. 5,000 people were killed last

month as fighting escalated. the un says the real number of refugees may be double that since tens of thousands may not be officially registered. former football player michael straight and has adding morning tv host to his resume. he was introduced as kelly reps co-host on live with kelly and michael. he is also host of fox nfl sunday picking over the spot led by lisa bowlen who left the show in november. that is your fox news minute. tracy: such a nice guy. the democrats prepared to kick off their convention in charlotte amidst the highest labor day guest on record. the national average is up $0.21 a gallon from last month. joining us is john kingston. i am a driver and the law twice a week and i have seen gas prices go up. interestingly not because of hurricane isaac. >> isaac turned out to be non

event. there will be a loss of ten million barrels in total production which is not nothing but the market's already take that in. there's one refinery that has some issues as a result of isaac but to the market it was a non event. tracy: you are not concerned with the supply of gasoline. >> not concerned with the supply of crude or the supply of gasoline. markets can be krutch led and products lead. this is one of those times when it is products lead and diesel, all of those markets are looking strong relative to gasoline. inventories are very tight. you have some other things that affected the market and changes and shipping standards for the fuel you use in ships. the u.s. northeast is tightening up its specifications so a lot of stuff that could come in the past which may wasn't the cleanest stuff but was cheap is pulling on the diesel market. you really have to watch diesel.

how do they watch that? they can look at that spread. back in 2008 when everyone was screaming about gasoline prices diesel was almost $1 higher which at that point was unprecedented. seems to me diesel leading the market right now. tracy: gasoline wasn't the issue why was there talk about the strategic petroleum reserve? >> the talk was mostly because of politics. i have to think the obama administration is getting worried about this. the consumer confidence index last week was down and i think the consumer confidence index when people see the price of gas going up it takes a lot of confidence. even more so than justified. i think it was politics. some news from this morning. the executive director made a comment in india that the crew the market is well supplied but products are tight and sheet has

taken a little push back to the g-7 statement that hinted at releasing oil from the strategic stocks. if you are going to do that you do it in a coordinad way. for her saying crude stocks are ample is kind of saying i don't think this is a good time for that. she knows that any push to release oil from crude stocks will be politically driven by the obama administration just like in 2000 when the clinton administration released oil. tracy: thanks for sharing your thoughts. >> presidential election, qe 3 and europe's meltdown struggles facing investors in the next three month? scott rand and jeffrey hearst of the stock trader's almanac give us their fourth quarter survival guide coming up. tracy: looking at winners and losers coming on the s&p 500 game stop up top today.

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dennis: the plot thickens. take a look at this invitation from apple to the media. the 12th cast a shadow in the shape of a five. could it be a not so subtle hint that that i -- iphone five is on its way. cheryl: nicole pointed out earlier that they have an $800 price tag on that stock. we had down there every 15

minutes. facebook hitting another new low nicole: we have seen apple hitting new highs over the last month or so. zynga and facebook pulling back. facebook has been under extreme pressure for the quarter. it has only just begun. quarter to date it is down. here it is at 1779. zynga is getting hit. down 71% year to date. both under pressure. just talking, where would they get the revenue? where will they get the growth? the dow down below that 13,000 mark. the s&p 500 down. the nasdaq down a half percent. the dollar is stronger.

back to you. cheryl: see you in 15 minutes. dennis: volatility ahead. those are words of warning from our next guest. jeffrey hirsch is with us. he is author of the little book of stock market cycles. we are also joined by scot wren. scot, let's start with something simple here. will stocks be higher by year end? >> dennis, our year and prediction and has been 1400- 1450. i think we are at the lower end. i am certainly looking for some sort of pull back here. i would love to see a pullback. lou: jeffrey hirsch, higher or lower a year and? >> a little higher by year end. you usually see some turning.

after the third quarter, it is a difficult week. dennis: how do investors play the election? do you have to think romney versus obama wins? >> i do not think so. the post election year is weak across the board no matter who wins, republican or democrat. i think we will rally up until the first quarter. dennis: scot wren, doesn't matter who wins? >> dennis, i think what will happen, in my experience, anyway, if one candidate has a big week here over the course of the next two months going into the election, you can see some fireworks there. whoever wins, the effect will be a two or three week -- what will

they do over the next 12-18 months. whoever wins, it is tough to change the economy quickly. the market will start to focus on the 12th, maybe 18 month time frame. dennis: jeffrey hirsch, first, you like this energy company? >> they are related. they have a nice yield of about 7%. owned partially by cf industries. penny mac has a 2% yield right now. and a nice pe. dennis: scot wren, you like the effect their, consumer

discretionary. based on what? the economy will be stronger or weaker than what it is now? >> dennis, i am looking for a continuation of the globe -- global recovery. not a lot of change. still well below trend. a lot of these economically centered sectors, something like diversified metals and mining, those have been destroyed lately. i think the markets overpricing a slowdown in china and i think we will see some opportunities. for me, i think the market will work its way higher in the next two years. dennis: thank you very much, scot wren and jeffrey hirsch. appreciate you being here. in 1984, i wrote a story for the "wall street journal" about exciting new technology that

would change the way we work. voicemail. today we are talking about how voicemail are going to die. they are replacing voicemail with texting, and set chat, etc. bondage says the number of voicemail messages left fell eight percent. cheryl: hurricane isaac coming down. the roth still being felt in louisiana. we are going live. dennis: we will have the latest from the cme. first, take a look at the ten year treasury. ♪

>> i am lauren simonetti with your fox business brief. u.s. automakers wrapped up sales and august. sales were up 14%. chrysler topped estimates. that marked the company's best august and for years. faster suv overall shrank last

month. the index came in at 49.6 missing expectations. it dropped to its lowest level since november 2009. the commerce department says it fell in july for the largest amount in a year. that is the latest from the fox business network. giving you the power to prosper. ♪ and hurtle us all into space. which would render retirement planning unnecessary. but say the sun rises on december 22nd, and you still need to retire. td ameritrade's investment consultants can help you build a plan that fits your life. we'll even throw in up to $600 when you open a new account or roll over an old 401(k). so who's in control now, mayans?

cheryl: right now to the global markets. european shares sliding. what was pressuring overseas markets today? ashley webster joins us now with some answers. thursday, president obama is speaking. a big day. ashley: certainly a critical week. the ecb meeting on thursday

where mario mario draghi expecto speech. he may wait to actually go into details of a renewed bond buying program until after the german court decide the constitutionality of germany contributing to the bailout fund. the bottom line is mario draghi is most definitely under the gun. what is he going to do to try to reign down the borrowing cost of those that written countries, in particular, spain and italy. it will be interesting to see exactly whether this thursday comes out with what the markets expect. it could have a big impact either way. cheryl: qe3, we get a little lip and then we are done.

you have a big interview. ashley: republican. he ran for president way back when. he is talking about how ronald reagan's recovery did back in the day compared to the recovery of president obama. it should be interesting. cheryl: it should definitely be interesting. and it should be fun. dennis, all you. dennis: tons of people still without power after hurricane isaac hit the gulf coast. >> good to see you. early estimates put isaac's damage at close to $2 billion. there are a lot of assessment teams on the ground. at this fema center where we are and all around the community tried to see how much damage was done when this category one hurricane came ashore one week

ago today. take a look at this video. it is not far from where i am standing. anyone that has been watching isaac coverage over the last week has heard a lot about lockman. it sustained a lot of damage. you can see all of the flood waters. reports of people that had to be rescued from the tops of their roofs because the water came in so quickly. nearly $15 billion of improvements were done to the levee systems in and around the city of new orleans itself after hurricane katrina. the big easy fared quite well with hurricane isaac did it was the lower lying areas. north, south, east and west. we have been all over.

now, of course, we are talking about power. a lot of people still in the dark. the primary energy provider is telling us 95% of power has been restored. if you are in the 5%, it is awfully rough. they are out here trying to make progress as quickly as possible. dennis: thank you very much. cheryl: the rain from isaac, too little too late in many areas of the drought stricken midwest. phil flynn of price futures group and fox news contributor in the pit's of the cme. >> it was too late for most of the crops. it missed some key areas in illinois and other areas. that is why we are seeing the bean market higher by 10.5% today. to think that this drought is

going to go on four some time, the impact it will definitely be felt. we had a new warning today from the un. this is going to be a crisis if they do not do something and they need to act. we will have to keep an eye on these grain markets. back to you. cheryl: phil flynn, thank you for keeping us up to date. it is quarter till the hour. time for stocks now. nicole: tracy, we are looking at valley pharmaceuticals. this is obviously at a premium of -- you can see both of these names jumping. it has become so huge in the u.s. the dermatology market. some of the products they have been getting is a prescription

acne tablet -- everyone knows it is a hot growing market. that is the big deal that we are looking at. $2.6 billion. the dow down 80 now. back to you. dennis: thank you, nicole. one question looming large at the democratic convention. are we any better off than we were four years ago? tracy: one of nickelodeon's stars in trouble over some racy tweets. we will tell you how viacom is responding. first, take a look at some of the winners on the nasdaq. ♪ [ music playing, children laughing ]

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tracy: the democratic national convention beginning in charlotte, north carolina. >> are you better off than you were four years ago? tracy: republicans running again on that question made famous by ronald reagan. elizabeth macdonald is here with her bottom line. >> that question was asked first

in 1982 jamie carter. here is the yes side. yes, you are better off. gdp is up 1.7%. this is a recovery of downward revision. corporate profits are up. average hourly wages are up. look at the negatives. 8.3% jobless rate. that is basically 42%. i would say 2006 when they knock off that 2006 housing credit. the hundred 6000 net job losses.

tracy: as much as they cannot stand corporate america, they have helped corporate america, but they have hurt the little guy. medium income, things like that, that is what is hurting us at home. you have production and things like that up. >> focusing the laser beam on the economy. that will be water cooler debate. it is at 830 year low. those are just some of the numbers to keep a hold of as a collection moves on. tracy: welcome back, girl. dennis: movie stars go, jason biggs has always been willing to take the low road. biggs has gone too far now on twitter. the ultimate 21st century on the medium for foot in the mouth disease. he tweeted some obscene comments

about the wives of paul ryan and mitt romney. it has jason plank one of the teenage mutant ninja turtles. tracy: it is gross. what was he thinking? >> to everyone freaking out about my tweet, i put my link in a pie. tracy: what in the heck do you say to that, though the clerk commodity speeding bonds for the past two months. will the polish continue in the next few months?

>> things like corn and wheat skyrocketed. all of these will continue to go higher. they like soybean prices. soybean prices are calling for a 14% jump over the next several months to $20 a bushel. they are at a record right now at $18 a bushel. those prices of about 50% this year. corn prices are going to go up 13% to a record nine dollars a bushel. core prices are already up 25% year to date. oil prices. goldman sachs says oil prices will go up another 19% before the end of the year.

down today. goldman is making big bets. they will continue to skyrocket all the way through 2012. back to you. tracy: not good news for the grocery bill, sandra smith. we have an interview and talking about repairing our current recovery under president obama. let's just say there is a big difference in people's reliance on the government these days. dennis: melissa francis is back from the middle east. steve moore will be here. ♪ unities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason

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