leave to be the iphone 5. melissa and lori, take it away. lori: we will see if apple can maintain its leadership status in this area. apple's big event kicking off in moments. we're expecting a new iphone, your screen, faster service, new connector. joining us from the unofficial apple weblog. apple is the largest holding of all stocks in this client portfolio. speak to a lot of people use pandora internet radio on the iphone but competition is getting tougher. reports apple could be moving in. talking to the cofounder later this hour. melissa: serious news, the middle east unstable as ever.

a shocking attack in libya, an attack that claimed the lives of ambassador chris stevens and three members. melissa: time for stocks first every 15 minutes onl on the flof the new york stock exchange or nicole petallides as always is standing by. nicole: the euro moving to the four-month highs. the top court ruling in germany basically says they will back the euro zone, will be there for the emergency fund. protected for more money, so that is basically the understanding. our market here at home, an up arrow across the board. up fractionally a quarter of a percent in the major averages, the s&p up a quarter of a

percent right now. a stellar september. the dow and s&p gaining 2%, that is a good move for september. back to you. lori: apple getting set to unveil its latest product, the iphone 5. robert gray with the details, what will we hear, robert? speak of the biggest products in the biggest company in the world. we're expected to hear from apple, a bigger screen, a thinner screen format. a lot of expectations on this phone. expect it to be on the lte network making it more compatible in more markets overseas. investors waiting to hear will they or won't announce some deal with china mobile.

that is what folks want to hear about in terms of expansion overseas, faster processor expected to be inside, improved camera with higher resolution, a new operating system, ios6. a new navigation system, turn by turn navigation, that is the key to look at stocks like every verse in the iphone has sold total combined amount of the previous version. that is a pretty tall order coming into play. a lot of expectations built into the new iphone 5. lori: thank you. the stock up about a half a percent. melissa: apples event is now underway. here to adjust all things apple, we also have roger and mike.

pretty amazing everybody gets worked up, but they do, why is that? >> people love the company. for us, we love the stock. it is an amazing thing, the following, so much more room to go. they keep innovating. melissa: some people wonder about that new point especially with leadership. >> the space, the emerging market, 42% of the smart phone market in asia, 27% in the united states. more people that can afford it but wanted, second thing is apple has five stores in all of china.

china telecom is not on it. there are only 250 service providers out there in the world that has the iphone, so there is a lot of room to go. they just started, really. lori: a lot of room to go. when the iphone debuted five years ago it was a crowded space for the iphone, are you confident they will hold onto their dominance? >> sharing that dominance with google and samsung, samsung outsold apple recently but apple could retake the crown with iphone 5. a lot of anticipation, lots of apple fans have held off doing this phone is coming and likely to be a tsunami of purchases right after the launch. apple may in fact become very dominant again. people just love this phone and

the ecosystem that goes around it, althoug all the services and software that goes with it. melissa: what is the must-have software that must be included? >> it has to be lte. the market for smart phones and the carriers pushing higher-speed standard, so much so that at&t in the u.s. change the branding on the iphone4s indicated was 4g. the high-speed data so important to these users demanding streaming video, downloading a lot of content and apple already owns the best screen, the best voice integrating, turn by turn directions with the next version of ios 6. this has to be the fastest iphone ever, it has to be a lte phone to call back at android. lori: i want to go back to your outlook on the stock price.

looking at the price today, $664 change, do you expect i a stock split? >> it is not the price, not the dollars. apple trading 12 and a half times this year's earnings, and actually trading as a cheap stock, one that has a 20 to 30 to 40% growth rate. forgetting about the dollar price, it is just a cheap stock from a pe ratio. lori: a lot of concerns with tim cook at the helm, there may not be the next great thing to keep this revenue trajectory going for the medium term. three, five, 10 years out. >> we have been long-term holders in stock and have never trimmed it. right now we are pretty clear,

they don't own the market, they share the market with samsung, but their ipad sales or 2% of the market. they have a lot of room to go on the ipad, emerging with some sort of ipad versus pc. they're in good shape, but like any stock you watch day today, make decisions and we see the coast is clear for the next two to three years. melissa: more from our all-star panel throughout the hour as new details emerged. lori: much more from that event and the panel. robert gray standing by, our cameras are rolling. melissa: we turn our attention to the deadly attack in libya, the white house with more of the very latest. as we go out to break, you can see gold, silver and copper trading lower, we will be right back. we asked over 3,000 doctors to review 5-hour energy

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and it's used over nine million times a week. is 5-hour energy right for you? ask your doctor. we already asked 3,000. melissalori: tensions in the mie east building. commission police have fired tear gas and rubber bullets at protesters near the u.s. embassy. we have a story out of libya, president obama condemning the attack that killed u.s. ambassador to libya and three other americans last night. rich edson has a very latest. all of this sparked by this movie very critical of mohammed and really we are seeing a ripple effect now.

>> we are. as reported, as reuters is reporting, for reaction to the white house today, they're getting prepared to lower the flag here at half-staff after the murder of four american. the president will continue with his campaign event at 2:00 will fly out lowering the flag actually right now live at half-staff. president leaving at 2:00 to go to a campaign event in las vegas talking and condemning the attacks in libya. criticizing the white house. >> make no mistake, we will work with the libyan government to bring to justice the killers who attacked our people. >> the attacks in libya and egypt underscore the world remains a dangerous place and that american leadership is still sorely needed.

>> condemning this film that came out of california, not a government film, the u.s. government, the administration says we didn't approve this statement, they took it down but sending mixed messages you did back to you. lori: breaking news, continue to follow this twitch on apple. tim cook has taken the stage at the event in san francisco announcing the iphone 5. we will get analysis through the hour. melissa: you can see how oil is moving right now. phil flynn in the energy tips at the cme. what is moving oil today? >> oil inventory, the bearish report from the international energy agency. to be honest with you, the market has been preparing for

some time. it seems not to be rattled as much by what is going on at least at this point. this will be of limited scope. it won't take many more headlines for people to start to get nervous. melissa: thanks so much. lori: a check of the market. nicole monitoring before the new york stock exchange watching analyst upgrades with stock as a wholly little higher. nicole: it has been a leader in the s&p 500. up nearly 6% on the day. $17 from $13. a four year-2008.

certainly a stellar performer. just talking with the fact stable sales for kohl's. also a good outlook. they talk about a good balance sheet being a cheap valuation. lori: the new iphone 5, robert, exciting stuff seems to be made of glass and aluminum. >> tim cook, on stage just inside behind me announcing the thinnest iphone i have ever made, calling it an absolute jewel is what he said the most beautiful product they have made, bar none. again, it was made of glass and aluminum, so we continue to get the details. the new iphone 5 has been

unveiled, started out talking about the ipad but switched gears talking about the iphon iphone 5 as widely expected. the thinnest iphone ever made for glass and aluminum, very important for apple taking 43% of all of their sales. melissa: if you have the old iphone, you'll pretty much be shamed into buying the new one. lori: charlie gasparino, but first check the dollar. instability in the middle east. look at the euro, flirting with the 129 versus the dollar level.

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>> going to have to toss it back to the anchors because we don't have anything on the prompter. melissa: president obama says justice will be done following the attack in libya that killed u.s. ambassador chris stephens and three other americans. hundreds of protesters stormed the u.s. consulate to protest a new film for islam and the prophet mohammed. killed when he and others tried to evacuate as the building came under attack. revealing a new contract proposal from the school board as the strike continues for a third day.

teachers say they don't have great expectations they will reach an agreement anytime soon. new teacher evaluation system and rehire laid-off constructors. next week mcdonald's will start counting something else besides the number of hamburge hamburgers. adding calorie counts on menu's in restaurants ahead of a new regulation requiring the information. those are your headlines on the fox business network. lori: they are actually. melissa: they do that in europe all over the place. lori: a lot of news going on, also, the iphone 5 debuted, and we have pictures. tim cook, the ceo of apple, says this is the most beautiful product ever made, bar none. made of glass-aluminum. 4 inches screen, 20% lighter than the previous iphone

models. the 4g speed, compatible with other phones out there, and the iphoniphone 5 adding another rof icons. speak to the world's thinnest phone. lori: this is where apple does a lot of their debuting events. we will continue to bring you the latest developments in faux and announcements. melissa: and more pictures. he does not plan a hedge fund anytime soon. >> have been talking to friends, here's what they say. it is kind of interesting, some people addicted to love, jon

corzine is addicted to trading. no doubt, i am not kidding. this is what his friends say. he is communicating this to his friends, one person removed, three people removed, one person, one layer. friends say jon corzine say he will not start a hedge fund anytime soon. he stays busy trading his own money. sure you have a few million left over, all failed run for congress and everything, but that money is what he does. says what are you doing? says i am trading, he trades off his blackberry. no hedge fund, he trades a lot.

this is where the rubber meets the road. jon corzine faces massive civil liabilities. we face a criminal charges against them. what he does face very serious civil charges on two counts. a lot of lawsuits coming around the bend coming very soon and the bankruptcy trustee wrote a scathing report joining to recoup some of that money going after the money and if needed they will go after individuals. civil predatory charges are very much still in the cards.

this is highly mismanaged firm. a firm almost to the level of negligence. melissa: are you going to trade either of those things in foreign iphone 5? >> no, i'm addicted to my blackberry. it is a cell phone. melissa: charlie gasparino, thank you very much. lori: much more from our panel of apple when we return. melissa: later on, liz claman will talk to the founder of pandora. posing some fierce competition of the future. but first a look at the winners and losers on the s&p 500 as we

head out to break.

melissa: time for stocks now. reaction to the announcement by apple of the iphone 5. nicole: it is pretty exciting to hear about the new iphone 5. if you have been waiting for it, look at the intraday chart, a pop and it didn't drop. $10 range. looks like it close at 4:00 p.m.

anyhow, i can tell you how the $10 range, it had it did run up ahead of the announcement. a big drop down, more about the battery life and such as robert will give us all the intricate details. looking at shares of zynga, up arrows. selling off down to where you see it right now. most $41. giving a growth outlook for the search. first time since the ipo. back to you. melissa: more details on apple's new iphone. robert gray, one of the biggest things coming out of this is the new chip looks like it'll be a

lot faster. >> absolutely. waiting for things to load, graphics, music slowing you down using multiple apps at one time. this aims to care that's twice as fast. look at the specs of the iphone 5. here it is: made of aluminum and glass, the senior vice president of worldwide marketing at this stage to unveil its saying the thinnest iphone ever in the most beautiful product made bar none. apple going out and pushing the form on this. a larger screen running on 4g lte network on all three networks, at&t, verizon and sprint and may run faster. a look at the iphone, mention tim cook says in a post-pc world, talk about ipad desales

outselling the pc, talked about expansion in the apple stores, averaging about a million customers per day in the apple stores. we will have to wait and see. somebody from ea sports out there demoing a new app for a racing game. back to you. melissa: thank you so much. lori: let's bring back our all-star panel joining us to weigh in on the news. the iphone 5, lighter, faster, prettier. will it enhance the experience? a recent replace your old iphone 4s? >> it is thinner and lighter than the old phone. apple is going with the larger

format that's the 4 inches screen to get faster and forward on the diversity of phone levels out there. apple wants to make the case is often the most premium experience. the lte network you mentioned, to bit will be much faster. better life always a concern, apple is claiming eight hours of talk time or browsing time on that cellular network, which is huge. cannot get through the day under battery if you do not conserve it. and talking about the gaming performance, cpu, camera improve. melissa: getting more information about the camera. panorama eight megapixels, what is the reaction you're hearing from the phone.

are you elated, disappointed, as expected? >> they met expectation is probably exceeded its just a bit. everybody expected all of this to be upgraded, and they were. you can say it is about fashion. one thing you can do is give the user a little bit more real estate, highly usable real estate they can use to enhance their experience. i feel as if apple has done just about the right things, battery life is very important. the new subsystems, radio could be demanding, the processor can be demanding, optimizing all that. you may not need an extra battery case to get you through the day. you can show people you're beautiful, thin phone as opposed to have it hidden in a case.

a lot of things they have done right. melissa: any word on the price? any dollar figures on this? you have samsung and google with the high-speed ability, set for the strategy comes in? >> i don't think price is going to be an issue. >> i think the ideas that this is the premium market they will stay in the premium market for now, maybe going to the lesser market for the ipad. i think it is more about have a strong market presence, in the

expanding market and doing a great job. lori: i was with somebody yesterday that showed me their samsung android phone, going to the store to get an iphone but smaller, thinner, cheaper and thought it was at least as good and a lot less money. somebody who is supposed to be an iphone customer, is more that coming? speak a lot of interesting dynamics in the retail market for the cell phone. the carrier output sometimes pushing phones that get them more revenue. the iphone is a challenge for carriers because they are essentially paying $600 for what consumers get in the end for $200. there is so much pent up demand, don't know about my fellow panelists but every conversation i have had has begun with when is the iphone 5 coming out? melissa: they're just announcing a new connector they're calling

"lightning." the big question was if they'ree going to be a new connector because that would be tough for those who have a different connector, so it sounds like there will be a new connector. lori: will we lose the 30 pin connector? at least cheap. melissa: adaptive interface, reversible so it's easy to use, 80% smaller, that is what we are hearing about the new connector. a big part of this announcement we were looking for. lori: all the details as you can hear as they emerge from the big event coming from the iphone 5, keep it here. melissa: coming up, liz claman talk to the pandora cofounder for growth on the billion

dollars company. lori: the bid to cover in quite a long time. interest rates going up. the fed tomorrow, and stability in the middle east. interest rates are shooting up today, more after this. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks.

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>> i'm liz macdonald with your fox business brief. prices under pressure following a report from the usda. their cultural department lowered their forecasts less than a percent, traders expect a cut of 4%. fewer homeowners are underwater in the mortgages during the second quarter. according to core logic, dropping 2.23. major pain at the pump. in protest of what this is the unjustified pricing policies. dealers have the charging more because they pay up to $0.20 more than competitors. giving you the power to prosper.

melissa: as we do every 15 minutes, let's check the markets. watching texas instruments. nicole: take a close look at texas instruments coming out with their quarterly outlook and what they expect to see. the truth is they're narrowing the third quarter yield. up one-tenth of 1%. selling off at 10:00 p.m. certainly does not bode well. coming in a little short. melissa: thank you so much. one of the things fox business has always tried to do is spot small businesses that one day may become big. for five years straight now three days in the valley coverage picks real winners. liz claman focus on the internet radio company. today in a fox business

exclusive live with the cofounder of pandora publicly traded $1 billion company. they have more competition these days, don't they? >> your idea from years ago is validated when apple may be wanting to copy you. let's go to the founder and now chief strategy officer at pandora. the discussion that apple may get an internet business treat. >> radio is going from a transition from broadcast and personalized internet radio. as a company, we have learned we don't get distracted by that, we doubled on what we have been doing with a focus. >> sent the news down because when you got to 54 million active users, 400 million

itunes accounts, and what kind of threat would that be if itunes, apple, say wait a minute, look at what we're doing. >> apple has been a huge partner for us. our growth has kept accelerating. for us to look at these things and say we have to keep doing what we are doing. were the best in the world at that and we'll keep on going better and better. >> what we do is very hard, we have been at this for 12 years starting with the music genome project, enormous effort with musical analysis, very detailed, and now we have immense amount of listener feedback and 20 billion some listeners becoming part of the big personalization engine.

liz: you look at the numbers and say you have an idea that is really working, the mobile ad revenue booking mobile ad revenue at a pretty good pace but at a discount, what can you do to add a little bit more the dollar signs back? >> just a matter of doubling down. really, reaching the scale as today, not only a large national radio station but the largest radio station in 18 of the top 25 markets, interesting to a lot of advertisers. keep at it, keep inventing new products and investing. liz: you have more than 70% of the market share. again, don't mean to harp on apple but if they jumped in, could that be eclipsed?

the target people within the company, what is the strategy to make sure you keep your trajectory very strong? >> over the years as competition has come and gone, we repeated that mantra to ourselves. part of pandora genius i it is easy to use, but incredibly easy to do. liz: any patents you can say wait, this is our idea, you can protect it? >> it is about pleasing consumers and execution. if you build the best service, tracked listeners and advertisers like we are, we'll have a happy ending. liz: chief strategy officer. good to see you, beat up the

apple guys. robert gray over at apple, we will go back to him in a few minutes but coming up in the next hour, we have the body metrics. mapping your body, hundreds and hundreds of different aspects. you may never have to return close again. and the ceo and president of intel of a fox business exclusive. we'll ask about the intel announcement, we will ask them about what they're coming out with now that can really change the game. back to you guys. lori: one final take from our panel coming up. melissa: the winners and losers as we head out to break. we will be right back.

lori: the iphone 5 announced. melissa: there it is. lori: back with more insight. the first time is being updated. would this be a problem? >> they needed to give this some time, now everybody will buy a new adapter. and an adapter for the adapter. if they can sell it and get away

with it, fine. maybe a technical reason for that, i will leave that up to the other guys, but will smell l more. melissa: that is the new smaller one, listing a few seconds ago to the old one, just a fraction of the size 80% smaller. and one has to device charging in one spot, do you sell a device with a new connector, a problem or a revenue stream? >> apple has used the ipod dock, has been a long time on one connector. smaller, digital, need a smaller connector because they have a thinner device now.

a technical necessity. user will have to buy adapters if they have old stuff. many people will. they will be a lot of aftermarket sales and devices to help the ecosystem around apple. melissa: is this a home run or will they face stiff competition with the smart phone deals? >> early in the presentation tim cook said there are 400 million ios devices in the wild right now. this is the next generation of iphonecome it will do extremely well. the new connector will make some consumers say i have a lot of stuff, do i really want that many adapters but most people will be very happy with it. lori: but siri will answer sports questions now, how nice is that.

melissa: thank you for bringing us your insight. and a big guest on "money." company chief operator, ceo of the mortgage bank, fixing unemployment, mr. fix it at jpmorgan. he gets frank to fix it. that is tonight at 5:00 p.m. eastern on fox business. lori: coming up on "fox business," much more on the deadly attacks on our embassy in libya. and the strong crops despite the drought. we will tell you with ashley and tracy on their way in right here. [ male announcer ] what if you had thermal night-vision goggles, like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep,

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>> so much apple news this hour. >> brighter, softer,

prettier. story of my life. >> wondering where you were going with that. i thought you were talking about tracy. ashley: there you go. put it on your business card. thank you, ladies. tracy: lori rothman. we love here. i'm tracy byrnes. ashley: i'm ashley webster. apple calling iphone 5 the most beautiful product it ever made that is. highly anticipated new phone, yes, thinner, lighter, more beautiful and has a bigger screen than the 4s. will it deliver on astronomical kaels sales expectations? we'll have a independent analyst and retailer this hour. tracy: different connector. will that be a problem for people going forward? u.s. embassies on high alert after libyan ambassador chris stevens and three others were killed by a mob with guns and rocket-propelled grenades. separate attack targeted the

u.s. embassy in cairo as well. we'll bring you the very latest on the fast-developing story. ashley: decision time for the federal reserve. what will chairman bernanke and company decide is the best move after qe1 and 2? how will markets react. we're looking at all the options ahead. tracy: on this iphone 5 day. time for stocks as we do every 15 minutes, we head down to nicole petallides on the floor of the new york stock exchange. dow is up 25 points, nicole? >> dow and s&p both up 2% so far for the month of september which traditionally can be a tough one. both those indices hitting multiyear highs. we have up arrows across the board for all major average, all gaining roughly a quarter of 1%. a lot comes on the heels of what we heard out of germany and more amenable to supporting the eurozone. obviously there are contingencies. the truth is they're on board so the euro has been

gaining and that's why we're seeing some strength. look at apple. the iphone in particular is something we're taking a look at. when you look at an intraday chart you saw a pop and a drop. what with we saw here at 662. it lost some of the earlier momentum but all the details coming out from the battery life to the price range will which be much of the same. obviously big news here on the iphone 5 day for apple. back to you. tracy: see you in 15 minutes, nicole. ashley: nicole, thank you very much. germany's highest court is giving the green light for germany's role in europe's permanent bailout fund. the court's ruling paving way for the creation of the esm, european stability mechanism. germany will contribute 190 billion euros to the $500 billion bill euro rescue fund. following the court's decision german chancellor angela merkel said quote to the parliament in berlin today, this is a good day for germany and it is a good

day for europe. in effect we now have two bazookas in place as a backstop to the european debt crisis. bailout fund by the ecb to buy unlimited short-term bond issued by struggling countries. european markets posting modest gains on the news. basically flat in london but modest gains in paris and frankfurt. the euro hitting a near five-month high against the u.s. dollar. there it stands exactly at 129. here in the u.s. it is day one of the fed's highly anticipated policy meeting. investors are expecting chairman bernanke to announce more stimulus tomorrow the we shall see. my next guest says a third bond buying program could cause a selloff in stocks. joining me is oliver portia, president of gary goldberg financial services. oliver, thanks so much for being here. do you expect some sort of stimulus out of mr. bernanke,

qe3? >> we expect some sort of stimulus, most likely qe3 but there are other tools they have available and we expect a small pop initially as a result of that but likely will be short-lived in our expectation. ashley: you're expecting a selloff. is that selling off on the news? >> the market priced in qe3, that is where the rally over last couple months have come from. we rallied significantly since the june 4th lows. one thing investors seem to have forgot, underprice risk and underestimate risk you get into trouble. that is where we find people are pricing in qe3 and pricing political action. we're loom we have fiscal cliff looming. we're getting ahead of ourselves. be careful. take risk off the table. option prices in terms of hedging your portfolio are relatively cheap because the vix is so low. so it is an opportunity to investors to avoid the mistakes of the past. ashley: would you agree based on that the market is

in dire need after correction? >> i don't loo to use the word dire that is too gloom and doom for me but i do expect a correction to come. i think we hit the highs of the year or certainly very near them. ashley: yeah. >> for the rest of the calendar year more likely to see more market volatility and potential downside risk than upside risk especially for equities. ashley: what about the qe. hits dollar. >> positive for commodities. grain reports today, not as bad as some expected but still something very positive. gold, silver are rallying. so technicals are improving there. you're still seeing heavy central bank buying especially in asia on the precious metals. we think commodities are well-poised. from an insulation perspective you by the megacaps, large quality dividend-paying stocks. you also have pretty food opportunities in some of the very large u.s., european multinationals.

ashley: you like european blue-chips, don't you?. >> i do. compare exxon to total for example, you buy both of them on the new york stock exchange. both are in similar businesses similar size. total is paying 1% more in dividend and lower valuation in terms of pe and price to book. that is attractive to us. ashley: good point. we're out of time. oliver, thank you for being here. >> appreciate it. tracy: got to get back to the iphone 5, ash. apple unveiling the newest version of the popular phone in media event in san francisco. starts like 11 99 like the old oness. -- 199. delivery fried the 21st. that is week later. ashley joins us outside with all the detail. robert between the cameras, connector, a lot of stuff upgraded and different? >> that's right, addresssy. good afternoon. a lot of folks say every other iteration and newer version of the iphone is a leap forward. analysts expecting this one to be it.

certainly a lot of changes coming forward. a fastestout ever with the preorders on sales on friday. what apple execs call the most beautiful product they have made bar none. the thinnest iphone ever. made of glass and aluminum. features a four-inch screen, bigger than previous iphones though smaller than the competition. 18% thinner than the 4s which was last year's newer version. 20% lighter than that model. a fifth row of icons and you can see more apps and calendars on your screen at once. will run on lte or 4g networks for carriers in the states and should open up markets overseas. made changes to the camera. more megapixels and panorama view. been available in other models. they try to enhance using of the phone with noise reduction possibilities as well, capabilities in there as well. that's been one criticism

from some folks out there does everything great except for the actual phone function. ios 6 the operating system up clouded with icloud tab. you can see your phone to see what is open on your mac at home of everything being in the cloud. they have a vip where all of your friend messages grouped together in a passbook to keep everything from concert tickets, tracy, to airline tickets all in one area on the phone. if you have get so many apps on there it can be hard to keep up. back over to you. tracy: it is amazing. it is amazing. as a mother the panoramic thing might be coolest. ashley: could be very cool. robert, thank you. tracy: whole team in one picture. ashley: all of them. right across. we have much more on the new iphone ahead this hour including reaction from one of the country's largest independent apple retailers. tracy: countries around the world condemning the attack that killed the u.s. ambassador to libya. we'll tell you how the united states is responding next. first as we do every day at

this time of day, check out how oil is moving right now based on that news out of libya. not moving much at all. down 11 cents. $97.11 a barrel. before copd...

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ask your doctor about symbicort. i got my first prescription free. or click to learn more. [ male announcer ] if you can't afford your medication, astrazeneca may be able to help. [ male announcer ] if you can't afford your medication, you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. ashley: the u.s. ambassador

to libya and three other americans are killed in the attack on consulate in benghazi last night. rich edson following the developing story from the white house. rich? >> ashley, fox news's ed henry reports that senior administration official telling him and although it is early and they haven't made determinations yet there are early signs this was a planned attack, they urge we're still in the early stages figuring out exactly what has gone on. this after the president spent the morning at white house and state department meeting with folks and making promises that the u.s. will seek justice for the four murders in libya of folks in the u.s. state department. meanwhile positive romney saying much is a result of the u.s., the white house, excuse me is sending mixed signals on foreign policy. >> we will not waver in our commitment to see that justice is done for this terrible act. make no mistake, justice will be done. >> as i have watched over the past 3 1/2 years the

president has had some successes. he has had some failures. it is a hit or miss approach but it has not been based upon sound foreign policy. >> there was some discussion perhaps of the white house delaying the president's trip to nevada. he is leaving here in a few minutes to head to andrews air force base to fly out on out to nevada for a campaign event this evening. back to you. ashley: rich edson in d.c., thank you. >> thanks. tracy: as we do every 15 minutes get a check on the markets. nicole petallides on the floor of the new york stock exchange. all the homebuilders having a good data good day today, huh? >> they have had a good day. some are up 50, 60, 80%. new multiyear high for pulte group here today. a big winner, up six 1/2% as we speak. it got an upgrade from one of analysts, williams financial group to a buy from a hold. target was $17 from $13.

they have to do that when it surpasses the previous price target. they have a new price target, of $17. they're encouraged what they're seeing out of pulte homes over the last couple quarters. talking about their strategies. they're changing some of their product. they have done more cost savings and actually coming to fruition now. that is why you're seeing them so up. other names are hitting new highs. that would include, lennar, d.r. horton and to brother as well. so a winning group. back to you. tracy: we'll take any winning group today, nicole. see you in 15 minutes. on deck the new iphone 5 available for preorder this friday. i can't even believe what people are thinking. you can get your hands on it next friday. can it live up to the sky-high expectations for sales? we have an independent apple retailer. he will share his take on that whole story. ashley: very interesting. first look how the dollar is moving right now ends guess some of these foreign currencies. down against the euro and pound.

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you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than christopher columbus with speedboats. that's happy! get happy. get geico. fifteen minutes could save you fifteen percent or more. and waiting in line. i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com, you can print real u.s. postage for all your letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no.

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in embassy. ambassador chris stevens and three other americans were killed as they tried to evacuate staff while protesters attacked their compound angry over a film that hurt islam. egyptian protesters climbed the walls of the u.s. embassy in cairo, pulling down the american flag and replacing it with a islamic banner. two countries that border libya are warning about other protests. americans are warned to avoid crowded places that gatherings intended to be peaceful could be confrontationtational. i'm juliet huddy. back to ashley and tracy. tracy: glad it worked out this time, juliet. apple unveiling highly anticipated iphone 5 in the last hour. what will it mean for the company and its competitors. joining us now, kevin heart, ceo of tech serve, an independent apple store here in new york city. you guys are all things

apple. you've been around forever now. >> 25 years. tracy: is that a make-or-break product? are you going to have lines around the block? >> we will have lines but i don't know if i call it a make-or-break product. apple described it as being a jewel, first time it used that word. i think that is pretty powerful. there are lot of exciting features built into the phone, new design, but bigger, thinner and newer and lighter. battery life is equal to the lte. features of ios 6, the list goes on and on and on. over 200 things associated with the phone. ashley: seems a lot of pent up demand for the iphone 5 more so than the previous iphones. is that true and why is that? >> that is actually very true. a lot of folks right now due for upgrades have been waiting for this phone. a lot of people using other phones and other devices have been waiting for the iphone 5. i think it is timing. numbers have grown with the ios devices out there, iphone leading that. there are a lot of folks waiting for the next version

knowing it would be coming out of the i would say right now we're seeing 60 plus percent of the people have an iphone are ready to upgrade when this device companies out. tracy: wow! i love making back aluminum because everybody i know cracked the back at one point, right. >> right. tracy: connector is a big deal. went from 30, all the way down to i don't know. ashley: small. 19 pins. tracy: 30 pin to 19 pin. everyone at home has 30 pin chargers and plugs, things like that. is that a game-changer. >> i don't think so. i think there is going to be people that will be upset with it in terms you will have to pick up this adapter right now in order to use your other devices. if you look what ios 6 does in conjunction with this, and icloud, there are a lot of things you can do --. ashley: because of smaller connection. have to make room for the battery i would imagine. >> that's part of it. tracy: extra row of apps. can't have enough apps. >> average person has over 100 apps on their phone right now. tracy: why my phone is so

slow. have more microphones. a better camera. seems that they have, in many ways listened to customer demand? >> they always do. they always do. they have tremendous feedback in what they listen to the customers. they're always innovating ahead of where the other devices and products are. so i think they really --. ashley: where do they go from here? i know they keep improving and innovating and look at things this phone has makes you wonder. >> when you look at ios 6 and mountain lion whatever they're doing all the devices are becoming one. you can be anywhere at any time in the apple ecosystem, work, professional life, home life, all synchronized as well. tracy: new nano out as well, updating itunes. what is your customers come in the store asking for? mini ipad, apple tv. what are they looking for? >> the halo effect apple describes is very real. if you have one device you're looking for the other

one as you're using them. goes across the spectrum of products. ipod is slower sales. glad they have upgraded that. people have iphone, ipad, a mac, everything. ashley: very good. you love it obviously. >> i do. tracy: have fun. ashley: thank you, sir. enjoy. >> thank you. ashley: thank you. tracy: good stuff. all right, well the national average for a gallon of regular gasoline is about $3.86. that is up three cents from a week ago. 16 cents from a month ago. i know that, trust me. drivers in pennsylvania and my fine state of new jersey could be actually paying over $8 a gallon. this is bananas. here is what is happening. more than 50 lukoil fran cheese owners in the two states are raising prices today to actually protest what they say are unfair pricing practices by lukoil north america. this is according to new jersey gasoline convenes automotive association. that is a tongue twister.

ashley: it is. tracy: lukoil franchises have to pay higher prices for their fuel than competitors. today's protest is aimed at araising consumer awareness from lukoil dealers. in past hour fox business got statement from lukoil north america. we worked hard establishing lukoil as premium brand in the u.s. and we value our network of independent dealers. we deeply reject that the njeca, apparently made public statements and i'll conceived actions which harm consumers. always expensive at lukoil. ashley: that is issue between the franchises and the company. they shouldn't, i know they're doing it as a statement but not the consumers fault. tracy: you know what? if you're that disheartened with lukoil oil, why did you buy the franchise. ashley: that's exactly right. tracy: what do i know? ashley: irs giving a

eye-popping reward to one person convicted of tax fraud himself. who says crime doesn't pay. gerri willis has the story next. tracy: one company is using three detechnology to help shoppers find clothes that fit. i could use that. don't miss it. we'll be right back. [ female announcer ] need help keeping your digestive balance?

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the killers of the u.s. ambassador in libya and three other embassy staff members. embassies around the globe are on high alert after that attack and a separate breach of the embassy in cairo. continuing to follow that story. tracy: yes we will. 35 past the hour. we have to get a check of the markets as we do every 15 minutes. nicole on floor of the new york stock exchange with ben willis. >> tracy, ashley i have ben willis here with me. we often talk about what to expect from the fed. we get closer to findings of policy meeting tomorrow, what do you think? everybody is anticipating something. what do you think we'll hear from the fed? >> i think best-case scenario we'll hear an extension of the 0 interest rate policy as we go forward and i really don't believe they're in a place to do a real quantitative easing. but the fed has had its impact already. they are jawboning put into the market they stand ready in september which traditionally is down month,

we're up 2% basically on dow and s&p. >> that is my next question going to be. we had a basically a nice run-up. you say that is anticipation of decent news from the fed. what do you think about the markets going forward then? >> i think we're in a precarious position because we've had the promise of not only ben bernanke but of draghi and when out of china saying they stand ready if something happens. the market believes something has happened. the economic data we're seeing for the united states is really not weak enough for ben bernanke to justify at least in my opinion. >> all right. we appreciate your opinion as we do often here on the fox business network. thanks, ben. back to you guys. tracy: promises promises nicole. thank ben willis for us. ashley: by now just about everyone of you watching fox business has bought clothes online and guessing you had to return. tracy: just in the last five minutes. >> not supposed to give that away. liz claman live in san francisco for her "3

days in the valley" coverage with a startup which may mean never having to fill out a return form again. >> tracy, are you shopping online in commercial breaks again? i know. we've both done that. we're at intel developers forum. this is really cool. is the mouse dead? this is gesture idea that intel is working on here. if you pan up to the screen you just click on everything that you need to do simply by using hand gestures. that leads us to our next startup company. it involves body mapping, scanning. almost like a nice segue to gestures. i want to introduce you to the cofounder and head of a company called body metrics. hence meaning you won't have to return any clothes now. tell us what body metrics does for the shopping experience. >> you go to a store like bloomingdale's in palo alto

and step into body metrics pod. we scan your body in five seconds. get a whole bunch of measurements from and match you to the jeans that fit you perfectly. >> so no more trying on 11 pairs of jeans, are you kidding me to find a good pair? >> i think we can cut that down to one or two pairs. really, as you said, finding jeans that fit is quite a paneful process. here we really cut that down to the time you spend. >> you're already in the london store called sufficient prages. -- suffrages. you're in bloomingdale's in palo alto. when do you expect a major roleout on this and when do you get customers in the pod naked, underwear, how does this work? >> what happens, you step into the pod and actually you, it is a secure environment and you undress to your underwear because otherwise you won't get the measurements that you want to make sure that the garment fits you.

and then after that you actually have your profile, body metric account you can use to shop in store or actually when you go on line. feedback has been great and people are using it, you know, very, very high rate. >> can you make a direct correlation with sales? are there more sales because people are finding the right fit more quickly? >> absolutely. we've tested this technology and got like a three-year track record in suffrages in london where we have one of the highest sales per square foot. that is the key measure of retail. and we account for about 20% of all the jeans sold there. so now, we're trying to replicate that sort of level of sales increase in bloomingdale's. >> i would imagine for online sales there perhaps would be fewer returns. returns right now are running 20 to 30%. that would save those companies money. do you get paid by the retailer or the customer? >> completely free to the consumer. and actually we're fairly

confident what we do so we share the with retailer. we get paid if the sales increase. and, and absolutely one of the key drivers is to reduce returns because people are fed up with returns. >> so annoying. brooks brothers does in its stores. me eality is in a stores in malls. how did you get widespread adoption. >> people have tried for 10, 15 years to crack this problem. it is a very hard problem. from what we see we have longest running examples of running a very profitable business in this area. so i think we have come to a point we can roll this out. and i think we have better track record than most people. >> if you see the body metrics pod. strip naked, get inside the thing and means never having to say return again. good to see you. he is the chairman and

cofounder of bodymetrics. coming up in the next hour here from the intel developers forum the ceo of intel, paul otellini in a fox business exclusive. listen, they just cut their revenue forecast for q3. what about their smartphone technology ideas? where is their new idea? what are they talking about? they have a brand new chip out getting a lot of buzz here. thousands of people descend on this forum. it is a big story here. intel components in a lot of your portfolios. you have to stay tuned to hear the fox business exclusive with paul otellini. we'll see you here in just a bit. back to you. ashley: thank you, liz. i don't think i want my body scans. says sorry, girl, no clothes in your size. tracy: that girl is eating too much. ashley, let's update everybody on the ipad touch now. we're getting word of that. ipod touch. see, too many products. too confusing. better battery life. 40 hours of music. eight hours of video now.

camera has five megapixels. supports siri, which is really great. better experience for the kids. comes in five colors which kids care about the most. and thinner, lighter, all that kind of stuff too. so the ipod touch getting a big ol' facelift. ashley: wow, interesting. tracy: good stuff. we were talking why would you buy the touch if you have the phone? ashley: true. you're saying probably for the kids. tracy: for the little peanuts who are going up to iphones. ashley: peanuts. we live in an apple world. tracy: don't we though? irs paying a whopping $10 million to a whistle-blower who exposed widespread tax evasion at ubs. as ashley said earlier it kind of pays. ashley: does apparently. tracy: gerri willis here with details. bananas to me. >> no small peanuts and it is bananas. any other food metaphors? a fellow named bradley birkenfeld, already done

time, 2 1/2 years for his role in the tax evasion scheme at ubs. what did he do? he turned around and rolled over on the people he worked with. now the irs is giving him $104 million for blowing the whistle. as you guys say crime does pay. but i got to tell you --. >> what is this based on, gerry. when you get a whistle-blower reward like they argue he has gotten back billions an billions of dollars to the irs that's all they care about. >> they're trying to recoup the taxpayer dollars owed them by, in this case ubs and it raises a very good question i think you're hinting at here. if you offer these, you know, million dollar, multimillion-dollar sellments, doesn't it encourage people to cross the line? maybe it was legal. in this case i think it pretty clear it was but is this going to encourage people to find something they can then turn over to the irs? tracy: payout is a percentage of the money you're snitching, right? ashley: right. tracy: so the notion is, see how much i can, you know,

sammy "the bull" -- >> successful putting together my retirement savings, maybe this is it. ashley: do two years in jail, get 100 million. what a deal. >> it is a financial crime and probably doing crime in a nice prison. ashley: club fed. tracy: will put the 104 million in the swiss bank account. what have you got tonight. >> we'll talk about attacks on embassies. we'll have a lot of information on that and impact on commodity prices especially oil. tracy: watch 6:00, 9:00 p.m. eastern, the will lors report on the fox business network. ashley: fed decision less than 22 hours away if you're keeping account. what will the fed do to help the economy. more importantly will it work? we'll talk about that next. tracy: let's see how the 10 and 30-year treasurys are doing right now. 10-year, 1.77%. the 30-year is up 8 basis points. 2.39%.

big moves we've seen in a long time.

>> i'm adam shapiro with your fox business brief. a former employee of bernie madoff is expected to plead guilty to criminal charges thursday. he worked in madoff's offices as comptroller and previously denied knowledge of the ponzi scheme and fred. he faces up to 10 years in

prison of the his son, another former madoff employee pled guilty to criminal employees charges next year. madoff's brother peter pled to criminal charges and will be charged in october. companies will use part of the money to repay $4 billion in loans and import prices rose in august for the first time in five months by the higher cost of oil. prices climbed .7 of 1% but fell short of wall street expectations. export prices more than doubled wall street estimates with a 9% increase. that's the latest from the fox business, giving you the power to prosper want to try to crack it? yeah, that's the way to do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh!

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the effectiveness. peter barnes has more on the story. peter? >> ashley, that's right. most economist expect the fed to pull the trigger on some kind of easing at this meeting. the betting it will at least extend the period it plans to keep short-term interest rates low into 2015. currently it is to the end of 2014. it might also launch a new round of bond buying, quantitative easing, to push interest rates down on mortgages, business loans and other loans even more. basically printing more money, pushing it out to make it cheaper to borrow. one former fed cop mist says ben bernanke sent a clear signal he is ready to make this move in his speech to bank in jackson hole. >> the fed is missing badlyly on unemployment part of the dual mandate. that was made in the speech at jackson hole where he talked about the grave unemployment situation. that is very grave word for a policymaker to use. i think that was clearly a signal that the fed is going to act at this meeting.

>> but critics say the problems in the economy can not be fixed by the fed gining up its printing press. >> job creation is largely a function of what businesses think the future holds for them and they, then expand their plant and equipment and respond to that vision of the future. that vision of the future is murky right now because of tax increase, meltdown in europe and the probability of a downgrade of u.s. debt. >> bill beach and others worry cheaper money could create more bubbles in housing and other assets and also could sow the seeds for higher inflation. ashley: plenty of risks. we'll see tomorrow. tracy: time for stocks as we do every 15 minutes. back with nicole petallides on the floor of the exchange. you're talking about a teen retailer. they are so fickle, these teenagers. how could you tell what is hot? >> that's right. what is hot. what is not.

american eagle outfitters is hot because we're hearing from an analyst talking about just that, that they're generating a lot of free cash which is good news and they believe they will continue to do so especially with lower cotton prices. on top of this american eagle issue as nice dividend, $1.50 on top of its regular payout. we're seeing strength there. the stock is up 3.3% right now on this move and on this news. so the last thing we'll note is the solid back to school results that we've seen. not only for american eagle outfitters but other retailers as well. the stock today has hit multiyear highs. back to you. tracy: hot for today as she said, nicole. can't tell you what is going to happen tomorrow. a new survey by the kaiser family foundation and health research and educational trust found that u.s. health insurance premiums have actually climbed faster than both wages and inflation this year. believe it or not they're poised to accelerate even

further next year. premiums for employer sponsored health plans which cover 149 million americans grew a modest 4% in 2012 but believe it or not took a bigger bite from the income of middle class employees because their wages only advanced 1.7%. the impact of the economy on insurance premiums also appears to be magnified by employers switching to lower cost, high deductible health plans that increase out-of-pocket expenses for workers. ashley: yeah. the costs are going up but the wages haven't. so you're falling behind by a lot. tracy: inflation as well. so, not good. ashley: on that happy note the feed meting plus europe's crisis plus new violence in north africa will shape the next move for stocks, gold, oil and lots more. sandra smith is on the trade next. tracy: but as we head out to break let's look at some of today's winners and losers on the nasdaq. sears holdings, look at that. up six 1/2% almost.

4g lte has the fastest speeds. so let's talk about coverage. based on this chart, who would you choose ?

wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined.

tracy: let's head back to robert gray in san francisco for more on apple's product announcements. robert, i hear you're missing the foo fighters? >> i can't believe it, you know. they're jamming inside right now. our producer is enjoying it. we have rob enderle from the enderle group. we've been closely following

developments, rob, the thing that stands out to you and me the lack of surprises. >> lack of surprises. they had a hard time keeping these things secret. the end result we're not seeing magic and not seeing the surprise we typically got in steve jobs events. >> you're hearing folks from apple they will toot their own horn. this is the most beautiful product they have made yet, bar none. >> it is. >> is it a big step forward? is it it big up grade cycle we've been hearing a lot about? >> for apple user it is. from the iphone 4 to the iphone 5 there is nice jump. those users see enough of a benefit to move to this phone. for that users not enough to jump the two year contract and anybody coming for another phone. >> i was asking coming from another phone is there enough of an enticement versus android phones up there. playing catch-up to the phones. >> nokia and htc are moving

much more aggressively. to make up for the fact they don't have itunes they have third party services to fill those gaps. competitively apple is falling behind, because it is them against the world much like microsoft. they just shift to a different platform. >> ipod touch and nanos company coming out new colors and features. siri, on iphone touch now? we forget about the ipod changed product? >> still a shame ipod product lead everything else in their segment. they still dominate. they're a pure product. iphone touch with a phone capability is joke it isn't a great phone. ipod touch will be best mp3 player. >> thinner. batter life. none of negatives you get with carriers of any phones. still my favorite. >> what, in terms of the upgrade on the iphone 5, what is the one thing that stands out to you that is a positive that could move the

needle for apple? >> well, lt, the movement to the next generation of network. the only lag to this is the fact carriers have to not put it broadly as we like. that extra bandwidth makes class of phones exciting. apple was late to 4g and hitting 4g with a ven angs. >> we'll he is if there is any disappointment from investors while making inroads to investors in china. back to you in the studio. tracy: robert gray. tough group, aren't we? ashley: still good stuff. tour mill in -- turmoil in the middle east and start of fed meeting and european court ruling on bailout fund is moving markets. how should you be trading all this news? sandra smith looks in today's trade. sandra? >> shockingly, ashley and tracy, most analysts are calling for things like gold to continue to go higher. we've seen a lot of

volatility. most forecast going into the end of the year and the new year are calling for over $1800 and ounce for gold. inflation, uncertainty. deutsche bank is only one that turned sour or negative on that one. crude oil, deutsche bank calling for 75. most analysts are calling for crude oil prices to top $100 by the end of the year and even go higher into 2013. the big question, guys, is the stock market. what will happen here? the s&p 500, a good gauge of that. we're at 1435 today. citigroup just put out a note and they're advising clients to own stocks through all this turmoil, through the elections, into 2013. we're at 1435. they're calling for it to go to 1615 by the end of next year. that is 14% jump from where we are today, guys. to be sure in that citigroup note, take note, this is tobias levcovich the equity analyst at citi. kay atic unraveling european sovereign debt and middle east tensions disrupt oil

supplies and american fiscal deadlock could be seen as a new shocks that would undermined this 2013 view. all these things continue to go higher and investors for once should be owning stocks through it all. ashley: very interesting, sandra. long list of events though, isn't it? liz claman will have more from her three days in the value, including paul otellini, intel's ceo. don't want to miss that. "countdown to the closing bell" is next. ♪

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well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. [ slap! slap! slap! ] [ music, laughter stop ] [ male announcer ] when your favorite foods fight you, fight back fast with tums smoothies. so fast and smooth, you'll forget you had heartburn. ♪ tum tum tum tum tums [ male announcer ] tums smoothies. ♪ >> good afternoon, everybody. i'm liz clayman, and this is "count down to the closing bell" live from san fransisco talking to all the tech heavy weights who came to the center here to talk about what is the new and latest,