over right now. cheryl: stuart varney. thank you very much. sales of the iphone 5 disappointing some analysts. apple shares are taking a hit. mitt romney fighting back against critics who say he didn't pay his fair share of taxes. we will ask grover norquist, president of americans for tax reform about that very issue in a big interview last night. and union problems are forcing american airlines to cancel over 300 flights over the weekend with more cancellations expected. we have an analyst coming up during this hour of markets now. and it is the top of the hour right now. stocks of course now and every 15 minutes with nicole petallides on the floor of the new york stock exchange. let's talk more and more about apple here. nicole: what's really interesting is what did they actually do? they sold over 5 million iphone 5s this weekend. right? and now they are running out and

there are shortages and tim cook is saying being patient. we will get them out as fast as we can. the stock is lower right now. some of the analysts were thinking 8 million would be sold. despite the fact it was more than 5 million, that was a record for apple but didn't meet expectations. over in asia they had to shut down a plant that makes iphones. not sure when they will open that. that could be factoring in also. back to you. cheryl: thank you nicole. joining us for more on apple, associate editor at barron's, mike santoli. you were telling me a few minutes ago that the analysts are having a tough time putting a true valuation on the company because they are doing so many things they have never done before. >> this iphone launch for example is staged over the course of, you know, nine countries then another 20 in a week. by the end of the year,

something like 100. so all the estimates didn't capture the same things. and also there's a little bit of noise in there because, you know, apple's quarter ends september. right? the fiscal year, i believe also ends september. therefore it may be some deliveries are going to happen in october. maybe they won't have all the sales count in september. that to me is short-term noise. did it blow away estimates? no. is a 1% decline in the stock after opening weekend a major disappointment? no. i think if sales were disappointing, the stock would be down 8%, not 1%. cheryl: we are at 692 and change for the shares right now. you are saying don't worry about that right now. >> don't worry about today's move and don't worry about whether the iphone launch is really meeting expectations. i believe it will meet expectations. a stock that went from 400 to almost 700 in almost a straight

line, still have much value in it. i think it is fairly valued at it. when you get to the market value that apple has, that has been a zone where the biggest stock in the market has kind of stalled out in the past, whether it was microsoft in 99, exxon in 08 and 09. i feel as if it is going to take another act to get buyers really excited about the stock. cheryl: what you are saying here is cannibalization, that's been one of the biggest concerns of apple. steve jobs didn't want to see a mini ipad and yet it looks like it will get one. do you worry the company is losing focus of vision of steve jobs and there might be some missteps? >> that's a step too far. i'm not talking about cannibalization. i'm talking about having a product that maybe not as distinguishable from other good enough products out there and the product itself is trading at a higher price, the iphone or ipad. if you get to the zone where the non-apple product is good enough and you have some kind of

comparebility there, you don't have to own the apple one, i think that's a long-term issue. once you become the incumbent as apple is in these products then it is more what you can lose versus what you can gain from the rest of the the market. cheryl: you can't discount the power of the bloggers out there, technology bloggers. they are hitting them on ios 6, that the update for current iphone users for the ipad for macs, besides the maps issue, we talked about that last week, also the fact there wasn't a lot of new developments in the upgrade and it is not worth it considering the amount of space it takes up on the iphone. what do you make of that? >> i do agree it is all pointing out the vulnerables of being the -- vulnerabilities of being the big guy, so you can pick at it. all that being considered they are still going to hit sales target and people are excited to buying the new one, even though the shortcomings have been pointed out. it is a fairly valued stock. the market has figured out this is going to be a big deal but what's next.

that's the question what's next. cheryl: nice to be number one but hard to hold on to that spot sometimes. mike, thank you very much. good to see you again. mitt romney is getting slammed for only paying 14% on federal taxes last year and in an interview with 60 minutes last night, the former massachusetts governor saying he believes it was fair. >> it is a low rate. one of the reasons why the capital gains tax rate is lower is because capital has already been taxed once at the corporate level, as high as 35%. >> so you think it is fair? >> yeah, i think it's the right way to encourage economic growth. to get people to invest, to start businesses, to put people to work. cheryl: grover norquist, president of americans for tax reform joins me now from washington. grover, he was very -- he really left a message last night on 60 minutes interview. his effective tax rate over 20 years was 20%. that's what he says that he wants to impose on all of

america. where's the issue with 2011 here? >> well, look, obama has said i'm going to tax rich people and implying he's not going to tax you. in fact, he passed tax increases on average income americans many many times during his presidency. there are 20 different taxes in obama care that we will all be paying. in addition to that, of course obama's new promise that he won't tax rich people, he's got a new term limit on it, 12 months. only next year, after that we could have a vat or other things. so if you are obama and you intend to allow the bush tax cuts to lapse, so there's a 500 billion dollars tax increase on low income people, middle income people, all americans, you want to talk about anything other than the tax increases that you have scheduled. i mean he's running up trillions of dollars of debt over the next deca decade, according to his budgets. the only way he pays for them since he's not cutting spending is to raise taxes on everyone.

what do they want to do? oh gee what did romney pay in taxes four or five years ago? that has nothing to do with anything. we ought to be reducing taxes on all americans. that's romney's position. that's the position to have economic growth. cutting the capital gains tax is not to help romney, it is to help people who don't have jobs. and there are 10 million americans today unemployed who would have jobs if obama had followed reagan's path and his recovery rather than obama's weak recovery, so there are 10 million people paying the penalty for obama's approach towards higher taxes and more spending rather than reagan's low tax approach because this recovery is so much worse than reagan's. cheryl: grover, if i'm hearing you correctly, then this could be a game changer in the election because if you look at recent polling based on the issue of taxes in particular, which we will hear much more over the next two weeks. if you look at the polling out

there right now, voters, age 18 to 29 favor tax cuts for everyone by a wide margin. do you think that we're going to be voting now on taxes instead of voting number one on the economy when we go to the polls? >> i think taxes are going to become increasingly important as we get close to the election. the reason is we have never before in american history had an election where as soon as the election was over, you knew two months later there was a 500 billion dollars tax increase, the per child tax credit, the marriage penalty tax disappears, the death tax goes to 55%, the alternative minimum tax, which people like obama put in to hit 115 people, now hits 4 million, and in january, hits 31 million families, 31 million families will be hit by the alternative minimum tax because the patch disappears. that's an automatic tax increase on all americans, if obama wins.

if romney wins, with the republican house and senate, they've already said clearly all those tax breaks continue for a year, and then they do tax reform that will be revenue neutral. no tax increase period. cheryl: all right. grover norquist it is going to be a fascinating couple of weeks in particular on the tax issue which of course is your specialty. grover, thank you very much. >> good to be with you. thank you. cheryl: well, there is a saying that nothing in life is free. well, so-called free checking accounts are costing more than ever. as regulations are squeezing bank revenues. the average monthly fee of non-interest checking accounts, rising 23% in the past year to getting hit with a monthly fee, bank customers must keep a minimum amount in their checking account, this according to to a recent survey by bank rate. nine days to go until the first presidential debate and who else is coming on the show? neil cavuto, he is going to be

here with his take on all of it. and the pilots union taking on american airlines, but the flying public is the big loser. hundreds of flights were cancelled over the weekend as a result. we will talk about that as well. but first, as we go to break, let's take a look at how oil is trading. we are down again, 91.67, down $1.21. we will be right back. ♪

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cheryl: it is time to make money with charles payne this hour. he has a stock that could be bringing you the next sports car an electric sports car no doubt. charles: this is sort of counterintuitive too. you had two things today, you had toyota saying they are going to kind of give up on electric cars. forget it, they are going to bring out 20 hybrids. this is a quote from toyota, that these electrics do not meet society's needs. they said that the distance on the charge is not enough. they cost too much. and the time to charge the batteries takes too long. you know what? i think that all bodes well for tesla motors. you say sort of counterintuitive, maybe it is maybe it is not. this is market where it is not probably the market for mass production. but it is a niche market for a company like this that has done it right. they have the model s.

you get the 0 to 60 in about 5 1/2 seconds. 300 miles on a charge. of course the roadster already going to be sold out for this year. then they have got an suv that will probably come out 2014. this thing is beautiful, got falcon wings. cheryl: all electric. i can understand the resistance in the united states. if we're talking about other countries, fair enough. and that's been its niche market. charles: it is a niche market but big enough market for an individual company like tesla where if you are trying to ram them down everybody's throats ala the volt. i think anybody who buys the roadster isn't going to be worried about the distance on the charge, the cost. when you have 100 grand to blow on a car, those are things that you aren't really --. i think the stock goes to 38.

cheryl: thank you very much, charles. we will see you next hour. it is quarter past the hour right now. stocks now and every 15 minutes. nicole: this stock is doing really well today, take a look at the shares are faring right now. tivo has come to an agreement with verizon. it said that verizon actually agreed to pay over 250 million dollars to settle pending patent litigation over video services. considered great news for tivo, up about 5% today. let's take a look at major market averages right now. the dow jones industrial average down 25 points. the s&p 500 down a quarter of 1%. and tech heavy nasdaq the worst of the bunch down over a half a percent right now. of course apple weighs on the nasdaq and you can take a look here and the s&p, but down

arrows as we kick off a new week. back to you. cheryl: thank you very much nicole. see you in 14 minutes. president obama is set to speak tomorrow to the u.n. security council. we're going to ask former u.s. ambassador to the united nations john bolton what he wants to hear from the president, what the president should say when he addresses the council, but first as we go to break, take a look at how the world currencies are faring against the u.s. dollar, in particular the euro is holding its own on this monday. [ male announcer ] let's say you need to take care of legal matters. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old

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>> at 21 minute past the hour i'm lauren green with your fox news minute. rescue crews are searching for other climbers lost after their camp was hit early yesterday morning, more than two dozen climbers were still sleeping in their tents when an avalanche took place. a global alert has been issued for a new virus in the same family as the one that caused the sars outbreak a decade ago. the virus has been confirmed in two people including a man from saudi arabia who died. officials say it is too soon to

say whether the virus poses any public health threat. ahmadinejad gave a speech at the united nations which said the u.s. u.k. and france violated the basic rights and freedoms of other nations. those are your news headlines on the fox business network. i'm lauren green. now back to cheryl. cheryl: thank you very much. president obama will speak in front of the united nations tomorrow, lingering tensions in iran syria and the middle east overall just a few of the big international issues that are facing this president. let's bring in ambassador john bolton. let's talk about tomorrow. the president's got some very serious issues, critics including governor romney coming out and saying that his foreign policy is ineffective. >> well i think the president is

going to take the opportunity during this speech which is a great forum with the whole world watching to defend his foreign policy, and it is going to be very interesting to see how he handles issues like his failure to stop iran's nuclear weapons program, the killing of our ambassador in libya, the penetration of embassy security and other embassies in the region. there's a lot on the line for the president. i think he's more vulnerable on the foreign policy issue than a lot of his political advisors. cheryl: how willing do you think tomorrow he's going to be to address the issue of iran and israel in particular. because of the criticism that he's not willing to get to really call israel the true ally that people say he needs to do, he's not doing enough for israel, what do you say to that? >> i think there will be a lot of rhetoric about the importance of israel security and living in peace and stability, but i think there will be a lot as well about his june 09 speech in cairo and his relations with the muslim world because he's

playing for several different audiences here, the international audience, but also the audience of his at home that wanted to get out of iraq, that looks forward to getting out of afghanistan and welcomes a declining american position in the middle east and globally. cheryl: you brought up egypt. i want to ask you about the muslim brotherhood. there's a feeling now that mohammed is much more aggressive than many analysts had expected him to be. do you think this is a concern that mr. obama needs to address tomorrow? >> it should be because what morsi has said i want more support for a palestinian state and yet it was president obama in that famous cairo speech in 09 that said i will pay more respect to the muslim world and do more for palestinians. when you see weakness in a weak leader and he makes concessions it doesn't satisfy you, it simply feeds the desire for more concessions. i think that's what morsi's

statement yesterday means. cheryl: one of the things with the general assembly this week is this president is really going to be attacked on all sides frankly by dignitaries that will be coming to new york talking to the press and they will all say that this president is not doing enough in the middle east and he's not aligning himself with the right people in the middle east. do you think that's a fair criticism or does it go too far? >> the foreign leaders will be very critical -- >> palestinians, the israelis, even the egyptians. >> -- about coming after obama because the alternative is romney which does represent a return to reaganesque foreign policy if he's elected. they will be careful not to criticize obama.

president obama said last night that israel was one of our closest allies in the middle east, which are the other ones that are as close as israel? by distancing himself from israel, the president is showing that he does not really -- is not really as concerned as israel is about iran's nuclear weapons program. that's a huge mistake. this is a threat to israel. but not just israel's problem, it is our problem first and foremost. cheryl: ahmadinejad today coming out and making some very -- again the rhetoric will always be very intense from ahmadinejad. at the same time he ease using the platform -- he's using the platform to saying that this nation, this president is basically allowing sacrilege for islam. harsh words from him. >> what we have seen from the

administration, not just the president but secretary of state clinton and others is in effect apologizing for the film that's being used as a pretext for many people for the violence. the more you apologize the more you are inviting demands for more apologies and the more you will get the ahmadinejad response. cheryl: john bolton, thank you very much, ambassador good to see you again. >> thank you. cheryl: 43 days until the election and just over a week away from the first of three presidential debates. neil cavuto will be here with his thoughts on all of that. first as we take a look at the winners and losers on the s&p, couple of names stand out right now, international paper a big winner. we will be right back. [ engine revving ]

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together we'll go far. cheryl: a rare stumble for apple disappointing iphone 5 sales hitting that stock today. just over a week until the presidential debates, neil cavuto is here to handicap it all for you. plus a delay of game penalty being called on nfl replacement refs while fans of the tv network don't like it. stocks now with nicole. you are watching united airlines and boeing, big announcement coming out. nicole: that's right the press release is hitting the tape right now. it says that united airlines now confirms a delivery of the first 787 dreamliner. so take a look at the stocks, how they are faring. united airlines up about 3 quarters of 1%. boeing pulling back a little bit, but this is big news; right? the 787 dreamliner everybody has been waiting for it and here it is finally coming to fruition.

let's take a look at another name that we all know very well and that is kellogg. we're talking frosted flakes. here's the stock, it's at 51.58. new joint venture as they try to expand in the breakfast and snack market over in china. so what they are doing is they are agreeing now to work with frosted flakes, that's in my house. now expanding with china. back to you. cheryl: all right. thank you very much, nicole petallides. breaking news right now, europe's markets are closing. ashley webster standing by with breaking details on those markets. not really a great day for these guys. ashley? ashley: not really cheryl. european markets are moving lower on concerns over greece, what's new there, and reported differences among eu leaders on

developing a banking union. let's take a look at the closing numbers for you. the bell just ringing a few minutes ago. the ftse off about quarter of a percent, down about 1% all day on the cac in paris. the dax also off about 1/2%. german chancellor merkel rejecting french president's appeal to activate oversight of the banking union quote the earlier the better. it is considered a key building block in resolving the region's debt crisis. but chancellor merkel says you know what? it has to be done right and it cannot be rushed. this comes as business optimism in germany fell for the fifth month in a row. the latest index falling to its lowest level in 2 1/2 years as german businesses worry about german exports and a faltering economy. today's news may be bleak in the euro zone, but it won't bother the greeks that's because the country is being hit with new blackout as the journalists are on strike to protest austerity measures. 24 hour walk-out mean nothing

radio or tv news programs today and newspapers won't be printed tomorrow. comes ahead of wednesday when most services across greece will come to stand still as the two largest labor unions have a general strike. expected to close schools disrupt hospital services and stop the trains and the ferries. and the battle goes on and on. let's not forget cheryl spain will be releasing its economic reform plan thursday. in a stress test on spanish banks on friday. a lot of eyes on spain later on in the week. cheryl: not if but when is what you and i said last week, ashley; right? ashley: absolutely right. cheryl: ashley webster we will see you next hour. over one week away until president obama and republican nominee mitt romney go head-to-head in a first debate. neil cavuto senior vice president managing editor of fox business is here. think the tax return issue is going the come up next week, neil? >> it probably will. i dare say if romney would

release every tax return since his first tax return, it would always come up. he's a wealthy guy. he's the richest guy that has ever run as a party nominee. he is going to run in to a lot of second guessing how he got that wealth, whether he's paid enough taxes on that wealth. he's going to be open season on that. but i think at best it will be a deflection from some of the issues i'm sure romney is going to want to bring us back to, that is the economy. but i think it is fair to say, these returns and whether he's paid enough, whether he's done enough, it's going to be out there. cheryl: you know one of the things -- if you look at recent polling, it shows that most americans, whether it's an 18-year-old or a 50-year-old believe that we should -- that taxes should not be raised in any way shape or form. maybe that's the argument mitt romney can make against president obama. neil: i think what he has said is that the issue isn't my taxes. it is your taxes. the issue isn't what i'm paying.

it is what you are paying. the issue isn't, you know, whether the tax law that we have is too complicated for words for me, it's whether it's too complicated for you. i think he has to sort of turn it back to that. as you have reported, he's had a time doing that on a host of other issues -- issues. it remains to be seen whether he can get this back to what he thinks is the real bread and butter issue, the economy. and the fact back to 47% thing that was getting him in trouble last week, leaving aside that, how did we as a country get to that point? i think these are some of the things that he wants to bring back front and center, we will see. cheryl: the president is also heavily campaigning in the battleground states. president obama now is going after mitt romney in ohio.

what do you think of the campaign strategy, ad strategy he's doing in ohio? >> no accident they are focusing on the 7 or 8 battleground states. the one thing i have noticed about these polls as you have too cheryl is the wide disparities week o week we get in them. -- week to week well get in them. couple of weeks ago they were all within a point. now some of them 5 points or more. that represents swings that are typical for september, but we forget it is september. and things could change. at this point in 80 jimmy carter was leading. there was a brief point in this month in 88 michael dukakis was leading. we run to some conclusions that could be concluded incorrect. the swing in the swing states is beyond the norm to me. i'm looking at national numbers that show near dead even range and i find it out of the logical sequence of events for these swing states to be so

disproportionate, but we will see. cheryl: before i let you go, next week do you think that mitt romney can effectively -- has he moved on for some call the gaffe and some say honesty he showed in the behind the scenes video? neil: i do notice that romney is treated very differently than is the president. in other words, mitt romney can be talked about for saying the president was politicizing events in the middle east but not the president for commenting mitt romney was politicizing that while on air force one for a fund-raiser in vegas. it is what it is. i understand the political equation here. but i think it is going to be incumbent on romney in that debate to reframe it back to the economy, to reframe it back to what he thinks he can bring. all easier said than done. and then the media will it will fairly portray the results of

that. we will see. cheryl: neil thank you. good to see you. neil: same here. cheryl: bright red tie here on monday. cheryl: thank you. neil is going to be covering all the presidential debates for fox business. that first one is going to be next wednesday, october 3rd, and neil will be there for you. call it the blame game, more trouble for bankrupt carrier american airlines. cut 300 flights last week due to the union problems. mike boyd president of the boyd group will be joining me to talk about that. first as we go to break, take a look at the treasury markets. nothing from ben bernanke over the weekend. not sure to tell you about the treasury market on this monday.

>> i'm lori rothman with your fox business brief. world wrestling entertainment is teaming up with hulu in one of the largest streaming deals to date. starting today hulu subscribers will have access to wrestling shows the day after they air on cable. with oil prices continuing to drop, drivers are starting to see some relief at the pump.

according to triple a, the price per gallon of regular gas is down 6 cents from a week ago to $3.80. and that's the latest from the fox business network, giving you the power to prosper.

cheryl: amid growing pressure for facebook to prove the value of its advertising, the social networking site is using new ways to track data. dennis neal is covering that story and he is here now. dennis, hello. >> cheryl, you know, looks like facebook is bent on violating our digital privacy yet again as it struggles to prove its ads do work. so data logic is going to look at whether facebook users bought something after an ad popped up on facebook. so far they look at 45 campaigns and found that in like 75% of

cases for every dollar spent on facebook, 3 dollars in sales resulted. so facebook under pressure from wall street to prove itself. that stock is still way below the $38 offering price, like 21 now. privacy protectors are upset. facebook says look individual user identity is never revealed. new study just numbers and percentages. when you post the most intimate details of your likes dislikes and histories and hobbies on facebook for thousands of people to see, is there any presumption of privacy? cheryl: i don't think everyone does that. i don't do that. don't you think though that the american internet user has just kind of become used to the fact this they are going to be monitored, maybe not their name or bank accounts but look what you are surfing on the web is going to be open season for advertisers? >> and these loyalty shoppers who use a frequent flier thing and they get points when they

shop, they know their habits are being tracked. they have already bought in and already agreed. it is one thing for american express to know every purchase i make with american express. i'm not sure i want am-ex knowing every purchase i make with visa. cheryl: you have a big interview coming up in markets now, i will see you in 16 minutes. you will be back. dennis will be talking to judge andrew napolitano. he will get the take from him on whether facebook is selling you out. that's about half hour. the judge versus dennis, that will not be boring. now stocks and every 15 minutes. nicole? nicole: there are a lot of movers and names that are hitting new highs. let's take a look at some names that we have selected for you to focus on. looking at the homebuilder lennar came out with their numbers talking about demand for houses. we are seeing lennar on the move. it did hit a new high, since pulled back. down 1.7 right now, though.

there's a look at gm, 24.36. also international paper top performer in the s&p 500, new high there. google, new high as well. we're talking 52 week highs, but, you know, if i charted them, i'm sure they would be multiyear highs as well. and facebook which over the weekend barron's said is looking more like 15 dollars than 38 dollars the ipo price. we have seen facebook selling off, 7.7% lower right now. back to you. cheryl: all right, nicole see you at the top of the hour. more problems for american airlines after it cancelled over 300 flights last week. according to a spokesman, only 55% of american airline flights arrived within 14 minutes of their scheduled time on saturday. mike boyd, the president of boyd group international, he is here from denver. mike, i tell you, i don't think i've ever seen so much directed at american airlines, whether it's from the consumer base, the

business community, the pilot union. what's going on here? what's going to happen to american, do you think? >> well, american senior vp of network planning spoke at our forecast conference last week and their revenue numbers look good. they have moved the right direction. when it comes to labor relations i think they have taken a sledgehammer approach and that isn't going to work real well. i think they are listening to the wrong people trying to get out of bankruptcy. cheryl: you mean with the pilots, the pilots are being accused of basically coming up with silly maintenance issues, there's a screw loose on the right wing therefore the plane can't fly. but they have the power to do this, they are in their right to do this, but do you think that the pilots are going to actually suffer backlash because of their actions and frankly the bad pr that we are seeing against american? >> well, the reality is the pilots have not had a raise in ten years and ten years ago they took a cut to get where they are today. now the company is in

bankruptcy, and whoever the company is listening to is giving them really bad consulting advice because instead of working with the pilots and seeing what they can do, they are trying to hammer them down with a contract that outsources a lot of work. when you work for a company and they say let's all work together and by the way we're going to lay off 11,000 people, you are not going to expect employees to go the extra mile. i think management has to rethink how they are addressing their pilots and the rest of their employees and their long-term plan. in bankruptcy when you are paying a consultant $50,000 a day just to show you how to manage the company, employees can ask legitimate questions of what's going on here. cheryl: but mike, at the same time, you know, the other side would argue that you have a job, you should be happy to have a job, in particular, if you are one of the nation's big airlines right now. but that brings me to people like united, use crossing earlier in the hour about united and the dreamliner. is this just for their competitors to come in and hit american while they're vulnerable, steal customers, steal employees, steal market

share? >> well, not going to steal employees. nobody is hiring, but market share to some degree, yeah, but the stuff about be happy you have a job, well, when you haven't had a raise in ten years and the company is talking about taking that job away, then we have an issue there, but yeah, i mean, american's management of their revenues is outstanding. what they have to do is start to rethink the advice they are getting in terms of how they are dealing directly with their employees. cheryl: well, you know -- you brought up the revenue issue, see how revenues are after these past couple of weeks with this -- whether we call it labor slowdown or not issues with maintenance, mike boyd thank you very much. >> thank you. cheryl: toyota is scrapping plans for widespread sales of its all new electric mini car. we will have details ahead on that. charles payne talking about that a few minutes ago. as we go to break, take a look at some of the winners over on the nasdaq, virgin media, baidu,

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cheryl: we have a stock for you right now. toyota motor corporation dropping its plans for sales of an all new electric car. charles payne was talking about this. it is commenting it misread the market and the battery technology. now only about 100 battery powered vehicles will be sold in the united states and japan in an extremely limited release. take a look at shares of toyota. $80 a share and change. but charles said go for tesla,

just want to remind you all of that. commodities falling across the board as the dollar rises. sandra smith joining us now with the latest from the trade. she is from the pits of the cme. sand sandra? >> really getting the tone of traders ahead of what will be a busy week for the markets. what's going on this morning? silver, copper, food prices, oil, gasoline, everything on the decline this morning along with the stock market, what's going on? >> stronger dollar, it's a stronger dollar play mostly, but a lot of people went into the weekend especially now with all the geopolitical things going on and people are long monday, a lot of profit taking because the commodities have hit recent highs across the board. we have seen profit taking and stronger dollar. sandra: i wonder as we stand in the grain trading room, these

are all indicative of the u.s. and global economy, is this a bigger sign about weakness in the economy that we are seeing the prices come down? >> weakness in economy but also bad numbers come out of china, also had manufacturing come down in germany. we're looking at a global slowdown, but i think the play is stronger dollar. look at the euro to continue to fall against the dollar. sandra: by the way you are mostly watching currencies. we have to leave it here. are you bullish long the u.s. dollar? >> i am not bullish -- i think -- i'm strong yen and weak euro and dollar right now. sandra: there's the trade. chris, thanks for joining us. back to you guys. cheryl: sandra thank you very much. before we go, time for a quick sports headline. a lot of great football games over the weekend. but probably a weekend the philadelphia eagles want to forget. the eagles came into the third week of play against the arizona cardinals as the team with the number one offense in the league. well, that was short lived as

quarterback michael vick was sacked five times in a 27 to 6 route. it was brutal for the eagles. capped their first loss of the year without scoring a touchdown in the entire game. the cardinals did improve to 3-0 for the first time in 38 years. but i know as a cardinals fan not to make any big bets or anything at this point. iphone 5 sales disappointing, time to buy, sell, or hold that stock? one of the best apple analysts in the business is going to be joining me in the next hour. and here comes the judge, judge andrew napolitano's take on whether facebook is selling you out. markets now. we will be right back.

dennis: i am dennis kneale. cheryl: i am cheryl casone. we have one of the top apple

analyst in the business here. dennis: we have an analyst who says time is running out for mitt romney. there may be some things he can do right now to pull it off. cheryl: is facebook selling you out? the judge andrew napolitano is here. dennis: top of the hour, stocks now. nicole petallides on the floor of the new york stock exchange. nicole: last week we lost about 14 points on the dow. today we see the dollar is quite strong. equities are selling off. the tech heavy nasdaq, the worst of the bunch. some accelerated selling. bank stocks, drug stocks, they

do have up arrows there. we have to focus on apple. order your iphone5. the truth of the matter is, they did very well over the weekend. they sold 5 million iphone5. that is the record. it surpasses the iphone for. however, analysts were hoping for 5 million. there were also problems in the china plant. back to you. cheryl: a lot of news on apple. we will stay on top of this. record sales of the iphone5 over the weekend. you heard that this is below a lot of wall street's estimates. the stock is taking a hit for that. right now it is down $9.73. there is a lot of demand for the iphone5. is that enough for shareholders? scott sutherland is here now. this is the most aggressive

apple has ever been when it comes to a rollout of a product, the iphone5, did they maybe get to aggressive this time around? >> what i think will be booked at the aggressive rollout, the initial launch is in a number of countries, to sell more than 25% in the last iphone, i think that is great. analysts had numbers as high as 10 million. when we talk about the aggressive rollout, the face to rollout is one week sooner. the third phase is over 100 countries versus 70. cheryl: we are kind of splitting hairs then. we are really over analyzing.

>> this will still easily exceed the iphone for s. any dip in the stock has been a great buying opportunity. cheryl: you would not wait for a pullback? >> i would be buying. cheryl: let's talk about some other things besides the iphone5. we are expecting a mini ipad from apple. you have millions of people now complaining about the maps feature, the consumer is, i mean. does apple need to be concerned about some of these criticisms? >> yes.

i think if you look over the product launches, it has been siri not being everything it has been cracked up to be. i think they will improve their maps. i think they will overcome this. they have enough fans and consumer buying that they will do very well despite the maps. cheryl: more troubles for apple with fox con, what do you make of it? are you worried? >> we are not too worried about this. they are still pretty oldish. we do not see this as a leading factor in the supply chain. cheryl: fair enough to say, as far as the unknot a supply they get caught at the same time,

though, apple is a very er sensitive company. that is something that apple has to consider. something in the list had to consider. >> definitely. tim cook went out there to visit the plant in china. i still think there are a lot of things that they need to work through. when we look at the maps, this is one of many applications. i think it is a nice application, but it is not a core application. cheryl: at this point, they look like they are number one. shareholders want them to stay number one. scott sutherland, thank you.

dennis: remember the old days when he shipped a product that was perfect and ready. [laughter] cheryl: you know how i feel about those maps. dennis: it is six week's into the election. although polls have president obama leading mitt romney by just over three percentage point. greg, is it already over from the electoral college standpoint >> he is just about there in terms of getting to 270 if you add in iowa where he is well ahead and ohio where he is a little bit ahead. two-point what i think romney has to be really concerned. voting has already started and one third of the vote will be done before november 6. even if he does well in the debates, he has to factor that in. an unusually low number of voters are still undecided.

in some polls under 10%. 60% of the undecideds one by romney, that still may not be enough. dennis: does wall street party know this? >> i think so. everyone looks at in trade. i think they have been too extreme. everybody who looks at that 270 number has to conclude the path is easier for obama. i think what wall street is also factoring in is what the republicans will do pretty well in the senate and the house. you will have a checks and balances type of environment. dennis: does it look like romney will loose florida? >> we can go to bed at ten, 11:00 o'clock if he loses florida. i think something every other issue is medicare and a lot of

senior citizens do not realize this would only affect people under the age of 55. dennis: are you astounded that romney is managing to lose this thing given the fact we have a president presiding over the worst recovery in modern history? >> i had a speech last tuesday night in john boehner home district. how could he be losing to this guy? it is a complicated question. i do not think the candidate has been all that great. the campaign has made mistake after mistake. dennis: what about the tax situation now? both of them on "60 minutes." >> it is true. it is really hurting in a state like ohio. you can almost feel ohio starting to slip away. a lot of people who do depend on

government there. i agree that is an issue that should be raised. mitt romney is not the best messenger to raise that issue. dennis: even he last night that it is not a campaign problem, sometimes it is a candidate problem. thank you very much, craig. cheryl: rich edson will be speaking exclusively to date with paul ryan lives in ohio. that will be this afternoon around 3:00 o'clock eastern time. well, take a look at the price of gold. this is profit taking. we will head to chicago and hit the pits. dennis: new privacy concerns for facebook users. wait until you hear who is tracking your account. first, as we do every day at this time, let's take a look at oil. ♪ tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong.

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♪ cheryl: it is time once again to make money with charles payne. you are liking the panera bread. charles: succumbing to the pressure to put calories on their menu. panera was the first company to do that. they are up $100 since then.

i am not too sure mcdonald's has to worry about the impact of putting calories on the menu. mcdonald's is going about 10%. analysts expected to outgrow the industry in the next five years substantially. i have to admit, this is a stock that has gone relatively straight up for a long time. i think it will continue to go up. company stores do better than franchise stores. dennis: inc. back over years, these food chains come and they had and they are hot suddenly. then suddenly something happened and boom. have to figure out when the fad and? charles: i do not think that it is a fad.

they have so much growth potential. to be fair, they have really good salads. cheryl: if i am going to go to mcdonald's versus panera, i will go to panera. charles: it feels healthy and wholesome when you walk in. cheryl: thank you. fifteen past the hour right now. stocks now. nicole: out of all of that, salads, bread, sandwiches, i am in. we are looking at international paper. up nearly 3%. the top performer on the s&p 500.

the highest level since back in 2007. all of these companies are doing really well today. this group has been topping expectations. they have been pushing through a big increase. fifty dollars a ton increase more than credit we have been anticipating. a big move here for these names and some of them are hitting new highs as well. the nasdaq down over .5% and the s&p 500 down one quarter of 1%. dennis: be not afraid, nicole. thank you very much. friday, we talked about gold. the metal is not shining very much today. phil flynn watching it from the cme. >> gold is down $12 today. it got some bad news overnight.

the confidence hit a 2.5 year low. concerned about whether the european union in germany will be able to get together with friends on a bank bailout. technically, gold is hanging in there pretty good. they believe in it so much that they added it to their positions last week. 7.7. if this is a selloff in gold, they are not jumping out just yet. gold is hanging in there under pressure today because of the euro. it has not broke key support yet. i think it will hang in there. i have not given up on this market yet. dennis: thank you very much. cheryl: iran's president further igniting tension. dennis: facebook releases your information to a data collection company and an effort to make money. the judge is here and he is

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>> had 21 minute past the hour i have your fox news and it. slammed western powers on the un security council over a growing nuclear showdown with this country. he said the u.s., uk and france violated basic rights and freedoms of nations. many of those countries walked out on the speech. earlier he said his country does not take the attacks seriously, that is prepared to defend itself. searching for climbers lost and in avalanche. many of them were french, german and italian. evacuations remained in effect in southern california workers are fighting to wildfires. one placed riverside county and has been reduced to amber's

beard that is your fox news minute. back to you dennis. dennis: privacy advocates say facebook is violating terms. judge andrew napolitano joins us. are these valid concerns? >> well, they are and they are not. facebook agreed with the sec that it would not pass on information that it learned from its customers even though the information is publicly available to anyone for profit. they also paid a fine that do not have the regulatory authority over it. a very very small fine. they will get the agreement of our people to pass that information on. it is not a concern because all

of this is public. it is posted voluntarily by the people who posted. dennis: it is one thing for facebook to figure out on its own. now they will give these e-mail addresses to gauge data objects. as long as they have already agreed to do that and a sub set of them are facebook users, what is the problem of that exactly? >> in my view, there is not a problem. some of the most lurid and intimate personal information about, they cannot claim they have the right to privacy with that information. people who are members of a class in a class action against facebook, we post it, we don't want it sold, we do not want it to come back to us. once it is out there, once it is

in the public domain, you have no right to bring it back and control who uses that information. who will go after facebook looks back the federal government. dennis: lawyers. >> who is the biggest violator of the right of privacy? we do not know the answer to whether these allegations are true. we do assume that the financial times is truthfully reporting that data logix has some kind of relationship with facebook. facebook has not told any of its gazillion customer and client. that is what the sec settle it says. you can pass on anything that is asked for as long as you inform, not get permission of, informed your client that you will do that. dennis: we are not saying that

john smith bought this at this place, they studied 45 campaigns and found that 75% a dollar spent on facebook's yield three dollars in purchases. we are not think that john jones made this purchase. do not worry about it. i never see people protesting out because they are upset. i see people making a living out of this. >> i am one of those privacy advocates. everything that data logix is getting, the facebook client have already willingly, knowingly, voluntarily revealed. what they want them to do is help those clients. whatever you post here, we will sell for profit. you may get an e-mail.

end of story. dennis: thank you for being with us. judge andrew napolitano. we appreciate it. cheryl: which presidential candidate would be better for small business? and two blue chips that may be a buy right now. first, as we go to break, take a look at some other winners on the s&p. we will be right back. ♪

dennis: 30 minutes past the hour. stocks now every 15 minutes.

a big day for google. stuart: nicole: all-time high for google. even citigroup came out and said today that it surpasses its all-time high in the next 12 months. how about right away on the very same day. i will interrupt myself and take a look at that and your charge. here it is. 747 and change. talking about potential going forward good they have a new price target of $850. that is up from 740. all-time high for google today. cheryl: thank you very much. i was looking at some of the stocks moving right now. i have someone who says you need to be buying stocks right now.

welcome back. you say right now is the perfect opportunity to buy. >> they have had a lot of wills over the last decade. they are starting to clean things up in the capital division. this is probably less of a global company. dennis: here is the one year at ge. many people have been patient. you say stick around even when you look at the five year period >> one of my themes is in the low interest rate environment. franchise leaders, companies that have inflation protection, ge would certainly give you that global basis.

cheryl: let's look at and tell. the five-year chart. you like it right now. >> i do. we believe we will have more technology less technology in the future and that apple is not the only thing in the world. cheryl: apple is not the only thing in the world? [laughter] $700 a share. let's get to some stocks you brought to our attention. let's look at mcdonald's. you like this one. i want to show my viewers what they could have had if they would have bought it. >> stocks that people are looking for in retirement. companies like mcdonald's. they have the ability to raise

prices of burghers showed inflation become an issue. cheryl: up 4.5% since you picked it. this is up 5.6% since you picked it. if viewers would have banked with you, they would have made the money. >> believe that we will have more technology in the future. a big scene getting paid while you are waiting. cheryl: you are not worried about the fiscal cliff, dividend taxes going up? >> i am. i think that is an issue. it is better than getting no percent. cheryl: hopefully our lovely men and women in washington will get it figured out. 9.88% gain for procter and gamble. >> they make things that we use

everyday that we don't even know we are using. the bigger issue is as investors are looking for ways to plate the future. you have to look at getting paid while the company is growing. cheryl: i want to show our viewers how the dollar, nasdaq and s&p are doing right now. do you think the market can sustain the rally into november? >> i think we will get volatility. i think investors, especially retail investors, need to get used to this. six-nine months now it is very likely we will start focusing on the fixes to the fiscal cliff. cheryl: we will talk about ge and intel once again in six

months. dennis: a twitter faux pas at microsoft involving a snippy snipe agent. it started when liberal economist tweeted he was visiting his granddaughter and will be on this week with coulter. i would rather be with my granddaughter. then a tweet from iker sauce on twitter account, it is greater than and coulter. fellows from a microsoft employee. it was deleted and microsoft has taken steps to make sure it will not happen again. cheryl: 42 days until the election, believe it or not. small business owners are still on the fence. they may learn something from our next guest. dennis: european leaders but had when they talk about tackling this crisis. let's take a look at the ten year treasury first.

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this after talks between the streaming service and amd networks broke down. the content could be the biggest loss for netflix since stars inc. disney and sony networks earlier this year. the company will offer 7.7 again and shares with the possibility for additional shares to be available to underwriters. it still falls below the $150 billion it was looking to raise in earlier filings. that is the latest from the fox business network. giving you the power to prosper. ♪ [ 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, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running. so come talk to us to see how we can help. wells fargo. together we'll go far. dennis: christine lagarde giving her take on where the global economy is headed. peter barnes joins us with the latest.

>> the director of the imf is just starting her speech now. she is pushing politicians here and europe to follow promises. we have all of her remarks right here. global growth will likely be a bit weaker than the imf had anticipated event in july. she says the uncertainty is "having very real effects increasing divergence of importance in the euro zone. a tepid recovery in the united states. "more fiscal union to try to control the country's budget and spending and deficits over there. in the meantime, she says they must support euro zone countries including with financing and bailout programs for the economies should be flexible. here in the u.s., current uncertainty over the fiscal

cliff presents a serious threat for the united states. we hope that political clarity emerges soon and with it actions to avoid the fiscal cliff. dennis: thank you, peter. cheryl: the comments that we are just getting from christine lagarde. she made some very interesting remarks. let's bring in ashley webster for more information on this. she made things very clear. markets today -- ashley: there is concern about greece again. christine lagarde also saying, look, you have to get your act together and soon. earlier today a video was released that time is now for action. do not let your guard down. let's listen. >> i see a tendency of losing the sense of urgency.

short-term policies and long term. this must not happen. ashley: it looks like mister earns from "the simpsons." we have to get going. we have to get this banking union in place. angela merkel thanked do not rush it. we need to get it right. spain will be releasing their plan on wednesday. it could pave the way for a bailout. meanwhile, the turmoil in greece is starting to crank up again. cheryl: the journalists now on strike. it is becoming chaos. ashley: the three groups of credit lenders who go into these countries are starting to disagree among themselves on what to do with greece. we just have to wipe the slate clean again.

cheryl: i worry about you as investors. ashley: they should have taken care of that by now. nevertheless, if there is a major headline out of the euro zone, there is an impact on the markets. we have a guest to talk about everything that is going on in the market. he will talk about the currency wars that are brewing right now. in particular, brazil who is very upset with the fed and bernanke. cheryl: i still cannot believe every day when i look at the strength of the euro. it is because, you know, they do

not suck as bad as we do. i know that is a horrible thing to say. ashley, thank you. it is almost a quarter till now. stocks now. nicole, you are watching discover. nicole: i am. getting people on the phone and pushing something. now there is a new settlement here. discover actually agreeing to $200 million over marketing tactics. they will have to refund that consumers this amount. they have ordered discover bank to pay back this money. as a result of this deceptive marketing that i told you about. just getting people to pay for credit card out on products and such. what is interesting about this is discover neither admits nor denies these allegations. there is a look at how the stock is faring. it is up one third of 1%.

the s&p 500 down one third of 1% write-down. dennis: thank you very much. cheryl: a recent poll by george washington university think president obama is more supportive of small business. our next guest says that paul is just flat out wrong. he says that romney is the best choice for the little guy. why do you say that? the poll is showing us right now that small businesses are moving towards the president. >> it is funny, cheryl. there have been a few different polls that have come out. i am sure, as you are seeing, there are polls all over the place saying different things.

we have more than 600 small business clients that we serve. i speak to thousands of business owners all throughout the country all throughout the year. i get a different sense from the business community. a lot of people like president obama, but they feel more favorably disposed to a romney candidacy. he is just more predisposed towards the business environment cheryl: the one thing i don't think either candidate has addressed thoroughly is how do you grow demand, how to grow the economy. if they do not have the demand, no matter what they will not hire. that is the biggest problem. >> you hit it right on the head. what about the business owners are seen from the obama administration are a lot of gimmicks.

how do you create more demand or expect as a business owner myself, i have a 10% company. there is $931 billion sitting in private companies checking account right now. almost a trillion dollars. why is that? cheryl: they are afraid. they come on and say i am not willing to make a hiring decision because i have complete uncertainty. i could go on and on. >> correct. why would they make an investment and risk their own money? what you are looking at the next few years is a lot of races in texas. -- a lot of raises and taxes.

cheryl: most of them gets back on taxes at the end of the year. >> that is not the way to do it. what you are saying to a mind is playing some tax tricks or gimmicks. it gets back to what you just said. how do you create more demand? they are afraid of investing, risking or spending money. right now why hire people and invest when that demand environment is not there. you lower the tax environment. capital gains interest and personal taxes -- 30-35% of my income goes to some type of tax. let me keep more of it so i can invest more. cheryl: we will have to have you back. great interview. thank you very much. dennis: we will be down in the pits for the trade.

cheryl: that will be fun. buying into california. the state is a mess financially, but maybe a good investment. as we go to break, take a look at some of the winners on the nasdaq. ♪

cheryl: it is time for your west coast minute. california -- half the debt has been sold already. a preliminary yield on ten year

securities despite having the s&p's worst grade of any state. they have returned 6.6%. alaska airlines extending one of its -- find my ipod map located the missing tablet in the flight attendants home. she said she never used it and plan to turn it over to the airline. showtimes homeland making history. one of that network's first series emmy. they also had awards and the comedy category. that is your west coast news minute. dennis. dennis: commodities seem red as the dollar rises. sandra smith has the latest at

the pits at the cme's. sandra: one of the big selling point today is in the precious metals department. gold and silver. federal investigators are investigating the peddling of bogus gold bars. 10-ounce gold bars. supposed to be worth $75,000. they were not sold to the public. they were sold to dealers in manhattan. it was basically a worthless metal of tungsten. this is definitely capturing some attention from traders right now. we will have a precious metals trader on later in the hour. with that being said, take a look at silver prices. they are leading the selloff in today's session. the stronger u.s. dollar is putting pressure on the prices. hedge funds are selling in large quantities today. we saw a big run-up.

we are seeing that trade unwind today. a lot of these commodity prices will be back same time next hour. stay tuned. dennis: thank you, sandra. cheryl: apple selling 5 million iphones in just three days. it is falling more in the last few moments. dennis: up next is melissa francis and lori rothman. the price target $600. find out why and moments. ♪ [ engine revving ]

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>> a quick note on apple today. the iphone5 on first day of sales out distanced the 4s by 100%, and by the end of the weekend, 20% up. people are worried. >> it will be interesting. we are mike on in the