gas. let's get you updated on the markets as we do every 15 minutes. nicole petallides. nicole: the lowest point of the day was 15,086. there are traders on wall street taking those opportunities to pull back as buying opportunities. the vix, the fear index, is up about 5% today. the bank of japan not doing much. that really turned the eyes back on the u.s. right now the dow is down one tenth of 1%. down 24%. we are seeing the blue chip

split between the winners and the losers. disney shares on the rise after their price target was raised. lori: interesting. that was turn around for a while. thank you. >> the price of oil is sliding for a second straight day. phil flynn from price futures group is in the pits of the cme. we have members of opec raising production. are they worried about losing some money? >> absolutely. they are worried about losing market share. it is a battle for market share in a world of oversupply. that is not easy to find.

especially when we are lowering demand expectations all over the globe. demand for oil will be weaker pick the good news is they are looking for a major drop in gasoline prices. maybe 15-$0.18. the other thing that is taking the entire complex is stimulus. that has been the riding factor for the oil market. and that of disappointment with japan and these numbers. >> we will take a drop in gas prices. thank you, phil. >> thank you, buddy. lori: the latest on that nsa lake. edward snowden admitted to releasing information.

let's go to rich edson live in washington, d.c. rich. the 18 something edward snowden is a traitor. in response to these concerns, a spokesperson says the program protects privacy rights and in a statement says that continued publication of these allegations about highly classified information and other issues taken out of context makes it impossible to conduct a reasonable discussion about the merits of these programs. one analyst says the court system will as well. >> this will create a new set of

things for the secret court to think about. those are article three judges. they have lifetime standing. if they see that the constitution is not being followed or the rules are not being followed, their job is to step in. rich: authorities are looking for snowden. russia would consider granting snow -- snowden asylum if he asked for it. back to you. lori: thank you very much. we will be joined live this hour by the aclu. >> we will turn our attention from that scandal to an issue that can help you invest your money in the future. more u.s. employers plan to hire

next quarter than in any period since the recession came to an end. the companies chairman and ceo joins me now to discuss this. 22% of employers plan to hire in the third quarter. that is the highest level from small business employers sent 2009. should we be screaming from the mountain tops or is this kind of a tepid thing at this point? >> i think it indicates how volatile some of the thinking can be. it has a lot of validity to it. are you going to hire? are you going to decrease? our confidence is growing. at the same time, what we have seen is that companies are

willing to take that hyperactive indexer and press stop as soon as there is some troubling news. uncertainty will still be the name of the game. >> let me ask you, i saw one reporter refer to these numbers as a moderate this. the net survey results would have been 20%-25%. that is correct. it would be moving into the increase. an awful lot of no change in the survey. companies are hunkering down and looking at the landscape of the future. it is more positive than the other direction. i just want to be cautious that the companies can move so much more quickly than they could

before. stack as we continue this, i want to give the viewers a queue. the biggest gains will be leisure and hospitality, 30%. let me ask you a specific question about construction. we saw in the employment numbers released on friday, not as big of an increase in construction as we would have thought. where should we make the determination? the real question is, how much that have we seen out of housing it takes a while.

we are all coming in to the months where you will see a lot of that kind of labor. i think that there are some positive trends coming on in the housing market. >> the best and worst places. >> des moines, iowa. i want to ask you very quickly. small business owners, 24% say taxes are the greatest impediment to their going forward. do you see that replicated in your survey of hiring? >> we are seeing a very lumpy comeback. some states have jobs, others do not. people have to be mobile. they will not be mobile unless we get so more confidence into the marketplace. >> thank you for joining us.

all the best to you. lori: we do have a news alert for you. riot police in turkey firing tear gas and water cannons at protesters. the prime minister is fighting back words is demonstrations saying that they are legal. >> we are also watching some other top headlines. google announced it is buying the gps application. the terms were not disclosed. gold wassabout to pay $1 billion for the company. it will remain in israel and operate independently for now. david murdoch, who is 90 years old, is offering $12 a share.

he hopes to close by the end of the month. small business owners are feeling better about the economy. optimism hit a one-year high in may. 94.4. also the second highest reading since the recession began. keep it here on fox business at 2:00 p.m. eastern. i will talk with bill dunkelberg. he is not as bullish as that report indicates. 24% of small-business owners say taxes are keeping them from breaking out in this economy. lori: that is nothing new. health care. all these things coming down the pike. obamacare, rather. let's talk about detroit. from motown to note down. >> only paying for the cable channels that you want.

lori: sleeping on the job. one banker realizing the real cost of catching a few z's at work. must be nice. [ laughter ] ♪ ♪ it's a brand new start.

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♪ lori: it is time to make money with charles payne. charles, you recommended this one back to us in march. charles: the stock has done extraordinarily well. i watch the market very closely. the stock was downgraded in may. lori: is that a head and shoulders chart, charles? charles: that is something i

have never seen before. the 52 week low is $55. yesterday, it was downgraded again by wells fargo. last time they reported, gross margins increased. with these technology companies, even though pricing is down, volume is up significantly. i look for margins to continue to expand. it is a huge move. lori: we are in this technological cycle. we are getting some of these gadgets and whatnot. charles: they have made a series of acquisitions. they are mobile. they have more access to flash.

>> only 21% saturation worldwide. the only place to go is up. >> i am looking for something big. charles: it works. especially, if you are a trader. lori: good stuff but charles. thank you. >> we do this every 15 minutes because your money is important. nicole petallides on floor of the new york stock exchange. nicole: etf's are a really important way to do rating. here is a one-year chart. you have seen a vix at 12. now it is at 16.5%.

those folks have been making some money. with volatility on the rise, they have posted big gains. this is up about 8% right now. how about that. >> thank you very much, nicole. you can't flip a coin on detroit. the city has a chance of bankruptcy of 50 / 50. he offered little detail of his plan to negotiate wwth detroit's creditors, public employees or retirees. lori: 50 / 50. he is really going out on a limb with that prediction. >> let us know what you think.

we will read some of these at the end of the hour. now it is the time to act. those are the words of president obama as he is pushing for immigration reform. lori: lou dobbs is on his way in. we have a quick commercial break. the dollar is weaker across the board. ♪ everybody has different investment objectives, ideas, goals, aptite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. 're all totally different. ishares core. etf building blocks for your personalized portfolio.

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♪ >> 22 minutes past the hour. i have your fox news minute. princeton university is being evacuated as police respond to a phoned in bomb threat to multiple buildings. in afghanistan, at least 14 people are dead and 30 wounded after a homicide bomber in an suv struck outside.

no group is yet claiming responsibility. greek austerity measures are having greek media. they will temporarily shut down tv and radio broadcasts of the state broadcasting corporation. 2500 jobs will be suspended starting early today. >> the immigration debate is back on the front burner. the president shifted attention away from the recent political scandals and controversies highlighted what he calls the importance of immigration reform. >> it truly deals with this issue and congress needs to act. that moment is now.

>> john beyer remains confident. the speaker said it could be signed into law by the end of this year. you think he is right? lou dobbs joins us now. lou: i would have to say it could be. then again, it could not be. what i got a kick out of, though, the president with his props, this has become the standard approach, he puts various people behind him. you never know what he is going to do. that somehow adds zest into the minds of some.

he did not make a single statement of anything other than happy to be with you. lori: break down this legislation for us. they are looking to legalize it before they troubleshoot. lou: a great signal, if you will. all of this is senator marco rubio. he just yesterday reversed himself. he said there ould have to be border security before legalization. he said yesterday you have to have legalization and citizenship before you get to the border security. lori: is it divided the republican party? gerri: i think that the republican party is already divided.

think about this, we still do not have answers to questions we were asking six years ago. back in 2007. we do not know what the number of illegal immigrants will be. the number has been around for a long time. no one believes it. >> how do you deal with the issue? i thinn that the house will have a hearing on this issue tomorrow. we have all that these people coming in to get these advanced degrees and then they leave. don't we need to address that? how do we do that? can we do it separately? lou: no one is talking about it. the reality is that right now this country, 25% of its graduate students are from out

of the country. we want to educate our own citizens, bring them up through k-12 and into our colleges and drive opportunity in this country. yes, we want all of that. we do not have a president who seems to give a dam. we continue to see the false reports created by state department of education. meanwhill, we have a land bridge. that land bridge is deciding the u.s. immigration program and policies. not our senate. not our house. not our president. we are going to have a land bridge that is wide open under this legislation.

if that is the choice of the people, so be it. where are we going to find the minds and the talent and the gifted to move this country's vision forward, that is not students are dropping out ofwn school, we are failing as of late with education did we are about to fail miserably. lori: thank you so much. lou: great to be with you. >> more on immigration with lou dobbs tonight at 7:00 p.m. and 10:00 p.m. eastern. lori: putting in and to what people are calling secret law governing. learning how the government was able to acquire american phone records on mock.

>> one person sleeping on the job. causing a really, really full-time million-dollar whoops. lori: the dow is up 58 points. most issues are in the red right now. hewlett-packard down 26 points. procter and gamble and pfizer leading the dow at this moment. we are back with more right after this. ♪ my mantra?

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as uneected signs of puberty in chiren or changes in bodyair or increased acn in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enla or painful breasts; problems breathing while sleeping; d blood clots in the legs. comm side effects include skin redness or irritation where applied, creased red blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about e only underarm low t treatment, axiron. adam: just a reminder to tweet us at either lore,@lori rothman or@ajshap. lori: only nice informative commentary. adam: this is about detroit. do you think detroit can save itself. tweet us and lori will reed

responses later on. we have to check at the new york stock exchange. nicole petallides, what are you watching? lululemon? >> lululemon is selling off. there are some issues surrounding lululemon as a real niche. it is yoga pants. they made it a staple. they have thethe see-through pa. they were off the market for three months, those particular pants. they restocked them. the story over the last 24 hours has been the ceo's departure. christine day said she is going to leave the company. she is the ceo people have been hot on. we're watching lululemon. she will stay on board until they replace her. but it brings uncertainty to the company. year-to-date it is a loser and today selling off. back to you. adam: thank you, nicole. lori: well the fallout from the nsa seizure of phone records continues. the american civil liberties union filing a motion seeking release of secret court opinions which allowed those records to be

acquired. the group's washington legislative director laura murphy joins us now. welcome, laura. >> hi. lori: if successful winning this motion when do you expect the opinions from the fisa secret court will say? >> we expect they will turn over their legal rationale for granting such broad search powers to the government to spy on american citizens and businesses. lori: what would satisfy you in terms of the legal justification the fisa secret court was using for >> i don't think there is any satisfaction to be had. lori: okay. >> we believe the court should use the probable cause standard, a probable cause that is a person is engaged in terrorism or criminal activity, that once you weaken that standard, you leave the door open to fishing expeditions and no one in congress that i have talked to envisionsed that the patriot act would be

used in this broad of a fashion. there is a great deal of uproar in congress and you will be seeing press conferences and maybe even litigation from congress as well as the aclu. lori: so, i'm going to counter you here. the argument in favor of the fisa secret court is, that it would use its jurisdiction to protect everyday americans so that government could zero in, nsa could zero in on terrorist networks. >> okay. so let me give you an example. suppose the only person in the courtroom in a criminal prosecution was the prosecutor? suppose there was no defense attorney? prosecutors would assert what they needed and what they thought the person deserved and there would be no one to attest to the person's innocence or to say that the charges are too broad. that's the case in the fisa court. it is not an adversarial proceeding. and so you don't have someone in there

representing the public interest and it is our fear that the fisa court is too often rubberstamping the requests of federal law enforcement and surveillance agencies. nsa is a defense department agency. people are being spied upon by the military. lori: the other defense of this process, michael mukasey did an op-ed in the "wall street journal", you may have seen it, basically pointing out when you expose the way terrorists communicate, it causes them to new, probably higher tech ways to communicate and thereby forcing government and investigators to take giant steps backward in the process to get rid of terrorism. >> sure. i mean the question is who we are as a society. if we force everyone to have glass houses so we could make sure that no terrorists activity took place in those houses, you know, that not be acceptable to the public. so we have the expectation of privacy under the fourth

amendment to our constitution and bill of rights, and we need to have that expectation of privacy extended. now, if you have probable cause that there is terrorism or criminal activity going onings, of course a court is going to grant you the ability to collect phone conversations, not just the met at that data. lori: we have the issue. tension is growing ever so thick between this need for our freedoms, our civil liberty abouts, of course, to balance that with the search and destruction of terrorism are. so where are we now in that, laura? >> i think the public really doesn't know the extent of violations that the government may be engaged in. i think glenn greenwald and watch out, there's more tong, come. i think the president's answer to this we're not looking at your e-mail is

insufficient because if we can find out, if the government can find out where you are, when you make a phone call and who you call, they get a lot of information and i think business needs to be especially concerned about this because you can find out in advance whether a merger is taking place. you can find out whether a businessman is calling his oncologist or, a businesswoman. lori: right. >> or calling her divorce lawyer. that could, that information could be leaked and it could be very harmful. lori: right. >> so we don't want to live in that society where the government knows so much about us and this meta data that they are collecting tells a great deal about every individual and every business. lori: it's an important discussion to continue having. laura, we sure thank you for your time this afternoon. >> thank you for having me. adam: now for this next story you may want to grab an expresso. lori: sure. adam: bank employee at a bank in germany fell asleep on the job and accidentally transferred 220 million

euros or almost $300 million from one bank account belonging to a retiree. the man supposedly fell asleep for an instant while pushing the number two on his keyboard, converting a transfer of 62 euros into one worth million. the bank was fortunately able to correct the error. it sounds to me a little suspicious. i mean, how do you fall asleep pushing that key? this person who has 22 -- 200 something million euros in that account, to be that person. lori: what comes to mind? the rear end calling. adam: this is called butt conversations hearing conversation you're not supposed to hear and hearing people saying bad things. lori: this guy was a victim of bad luck with all the money transfers at least the bank caught it in time. adam: yeah. lori: her qaed mocumentary got big ratings for "animal planet" but what did the

discovery communications president really think when he was first pitched it? liz claman is live next. treasurys here, interest rates out the curve. 30-year holding above 3% even though we're down a couple basis points. treasurys are selling off. that is pushing yields, i'm sorry, they're rising today. so pushing yields lower. 3.34%. we're back after this. to hidden fees. thankfully e-trade has low cost investments and no hidden fees. but, you know, if you're still bent on blowing this fat stack of cash, there's a couple of ways you could do it. ♪ ♪ or just go to e-trade and save it. boom. ♪ we kgiven way to sleeping. tossing and turning have or just go to e-trade and save it. boom. where sleepless nights yield to restf sleep,

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your fox business brief. boeing is increasing its global jet demand forecast for the next 20 years. the world's largest plane maker is projecting demand for more than 35,000 new aircraft. valued at $4.8 billion. that sup 8% from last year's estimate. they are releasing current market outlook in the global demand for the jet market in the upcoming two decades. first flight for the airbus a350 may come as early as friday morning that is according to a report from "the wall street journal" if the final testing is compaay will likely confirm friday's plans. stocks under pressure after the bank of japan disappointed investors by holding a policy study. federal reserve considering tapers its stimulus program is weighing on the market. that's the latest from fox business, giving you the power to prosper.

lori: all right. direct your attention to the dow. getting a certain amount of volatility here. wild day for the markets. moving lower again after climbing back from a 145-point deficit at the start of the session. climbing back to a deficit of about 15, 20 points. back down to a 90, 95-point decline. right now down 89 points. all this in reaction however traders are interpreting what the fed's next move will be. more breaking news. the white house will temporarily halt a top civil service bonus program. a senior officiaa telling our partners at "the wall street journal", the presidential rank award have been given to senior officials since the 1970s but put on hold amid budget constraints. from monsters to her maids the military channel to buddy the cupcake maven, there is at least one show on discovery's many channels you might be addicted to. how does discovery communications plan to continue its blockbuster

growth? liz claman is just the right person to ask. she is live at the 2013 ncta cable show. hi, liz. >> listen everybody is talking about her maids. we'll get to the her maids in a mower maids. they have so many channels. there isn't enoughhroom on there, and not to mention the screen behind me. they have the oprah winfrey network, "animal planet", tlc, 3-net, which is a 3-d channel. they're coming up with something called test tube which they hope will launch, brand new, hyper, hyper, hyper popular programing. launching it all the president and ceo of discovery communication. thank you for joining us. let's put this behind you. this is very impressive with all the channels. to look at all of them, david, to see not only fill them with content that people definitely want to see but at the same time, have a stock price that is

up 48% year-over-year and 200% since you took over. what is the number one thing you feel you've done right over the past two years to really keep discovery communication at the helm of non-fiction broadcasting? >> when i took over discovery a little over seven years ago, there was no question it was the number one platform media company in the world. we had 14 channels here in the u.s. and between six and 15 channels in 220 countries. even though we had 14 channels here in the u.s. we had only one great channel. that was discovery. our market share viewing on cable was a little less than 4%. 14 channels and only 4% of the viewing. we were investing $500 million in content. so the one thing we've done is, really invest in great creative people and a lot more money in content. so today we're spending well over a billion dollars on content and we have a great creative team and our market share in the u.s. is now over 10%. and so, investing in content,

making each one of these channels better, having people spend more time with id, with science, with "animal planet", with oprah winfrey network, as long as we continue to that we'll grow. >> how hard is it to launch to "animal planet", discovery, what is ratio of rejection to green light? >> it is pretty high. also the failure rate in this business is quite high. you put shows on you love with ircaers people hope will resonate. at least 50% of the time those shows don't work. that is the busier we're in. you have to have great creative people but they have to be resilient. with own, we did a lot wrong before we started doing a lot right. last year own was the number 35 channel in america. today oprah's network is the number 12 network in america. >> you've come a long way. we stood here a year ago it would be profitable at end of this year. any update on that? >> we'll be profitable this

year. doing much better than we thought. we're the number one network for african-american women. oprah is working really hard but found a great way to connect with viewers. they're spending a lot of time with the channel. >> you found a great way to connect with the mermaid mocumentary. 32 people watched that. >> up to "animal planet". >> when they came to you with the idea of the mermaid show, what you did think. >> you never know. when i heard about honey boo-boo i didn't know. certain things in tv. work hard to tell a great story with great characters. every once in a while you hit the culture. did it with john and kate. with gold rush and beat broadcasters and honey boo-boo and long island medium. mermaids speaks to another issue, social media. the reason mermaids became so huge they started to watch it, went on twitter and facebook. are you seeing this, can you believe it? and it grew. >> speaking of growing, i want to talk about what

we're talking about. brand new ad digs to playbook. that is to add new programing. you have the show called, "this land is your land.". >> north america. >> north america, "this land is your land" and test tube. what do you hope to get out of test tube when it comes to brand new programing? >> test tube is really what it says. it's a test. >> okay. >> we bought a streaming video company, revision 3. >> yeah. >> when we bought them two years ago they were doing 150 million streams a month. they're now doing over 300 million. >> okay. >> they're the number one nonfiction screaming business. our view is, our core business is cable and those channels you saw, everyone of those brands. we need to stay contrary. if people go on youtube to view content it is not the same content we put on our channels but we need to produce content for youtube. we need to create brands on youtube as well. >> doing it on youtube. doing it on cable. david zaslov, discovery communications. >> thank you, liz. great to see you. thank you so much.

>> can't wait to see the next installment of the "mermaids" show. >> next year we do another one. we have phillipe damon from viacom. big deal they're doing. content deal with amazon. todd rogers of tivo, yes we will ask him about his spokesperson tim tebow having signed with the patriots. so much news on tivo as% well. see you in a few minutes. lori: thanks so much, liz. this is fascinating stuff. google has asked the u.s. government for permission to publish the secret fisa court orders for user data. so this is all in relation, this is more fallout from the nsa controversy. google is basically saying, yes, they received court orders from this fisa court saying they want surveillance of all these phone and interret usage. google is basically saying, given a letter to attorney general eric holder and fbi director robert mueller saying in essence they did

not provide as much information as the government, the nsa was actually asking for the they want to be totally transparent to their users. we'll continue to follow the breaking developments. interesting stuff. we're starting to hear from companies involved in this nsa surveillance of internet and telephone information. in the meantime, social media detox. americans pulling the plug on facebook, twitter and the like. we're going to find out why next. with fidelity's options platform, we've completely integrated every step of the process, to get aist of equity options... evuate them with our p&l calculator... and execute faster with our more iuitive trade ticket. i'm greg stevens, and i helped create fideli's options ptform. it's one more innovative reason serious investors are choosing fidelity. now ge200 free trades when you open an account.

lori: well sending retweets on twitter and liking photos on facebook is starting to wear you down you may be like many young folks today who are claiming they suffer from social media fatigue. fox news's laura ingle joins me with more. what is it going on with

this trend? first great to see you. >> thanks very much for havinggus on today from the fox news channel side. this new information that we're talking about today is coming out of the pew research center that many are in fact doing this sort of digital detox. the reason some are pulling theeplug vary but mainly people say getting on twitter and facebook is a time suck for them and digital distractions are doing damage to productivity at work and to their lives at home. there are currently over one billion monthly active users on facebook. 200 million users tweeting away on twitter and 190 million on google plus. despite the growing numbers of people stepping away from these networks, researchers and professor, dana boyd, doesn't think this signals the end of socializing online. >> if we were to say social media is on the way out, basically akin to saying socializing with your friends is on the way out. that's not going to happen. >> hard to give up according to a study for the pew research center internet in american life project, 61% of the current facebook

users, one time or another in the past they have taken a facebook vacation. we may see more of that. lori: are people saying they will back away from using social media sites especially in light of what is going on with the political dialogue, the in. sa monitoring? >> right. a lot of people in the research study say privacy was a concern. not this was a concern. many people on the street said they won't change their internet habits knowing there could be extra eyes peering on them. other saying taking social media sabbatical gives them peace of mind in privacy concerns and connect with their friend in the real way. pick up the phone. face-to-face. lori: real passion sounding. >> i know. lori: thanks, laura ingle, fox news. >> thanks for having me. lori: the immigration bill finally getting its day in the senate. "wall street journal's" gerry seib says it could see big changes by the time it leaves congress. she he joins tracy byrnes

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adam: welcome back. i'm adam shapiro. tracy: i'm tracy byrnes. stocks diving again in the last half hour. the dow is down 112 points right now. it had been down more than 150 points earlier today but then recovered a little bit of that loss. we're down again about 112 right now. the biggest movers plus how to play this wild market all coming up. adam: and america's job creators more confident but still not ready to hire. national federation of independent business chief economist bill dunkelberg tells us the biggest issues holding back small business right now. tracy: and the immigration bat begins. this hour the senate finally taking up the "gang of eight"'s reform bill. president obama voicing his support but a feisty debate is expected in the coming days. "the wall street journal"'s gerry seib will tell us who the likely winders and losers are. that is ahead. adam: we'll check with stocks. let's go to nicole petallides on the floor of

the new york stock exchange. any explanation why we took this triple digit nosedive? >> we've gone back and -pforth. some traders buy on the dips and they take some profits. the d accident. y, the dollar, to the downside today. we started off and moved to thedown downside. we recovered the losses only to see a selloff again. we've had a more volatile market of late the last couple of weeks. volatility has returned. that is a big factor here. one thing that kicked us off to the downside was globally, right? the global markets to the downside, bank of japan not extending mop monetary stimulus or monetary policy in order to bring stimulus. that brings us back to our own federal reserve whether or not they will taper the estimate plus. -- stimulus. financials are a group to the downside and not good. you can see goldman sachs and morgan stanley down two and 3% while some telecom, utility, consumer stocks

have been doing a little better, faring better. financials are more economically sensitive and more risky. plenty of people on wall street say this is when you buy them because the trend still remains to the upside. i am not, adam and tracy saying short the market, get out. there is none of that going on here on wall street. i always echo what the traders are feel being and saying. right now they just feel there is volatility. adam: volatility seems to be the name of the game. nicole petallides. thank you. tracy: that's how you make money though. our next guest says volatility shouldn't discourage a investor in it for the long run w very senior senior market strategist from lord abbett. nicole started out how we start the day with bank of japan, basically tokyo saying you know what? this $1.5 trillion stimulus program might be tapering. we talk about tapering here. all the tapering is creating volatility but that is creating opportunity, isn't it? >> well i think the fed is going to have to taper. the bank of japan can't keep

doing this but that's a long-term concern. i think what you have here is the trading community has been so accustomed, and in japan just recently gotten accustomed to this flood of liquidity. they're terrified what might happen if this even slows down a little bit. i think fears are misplaced. but nonetheless you have that set against the value and bouncing back and forth in the market. tracy: goldman sachs is calling for tapering at the end of the year. everybody at this point should know they have to -ptaper, they will taper. why is it still making the market so edgy? because everybody has to be in touch with the fact that the punch bowl has to be pulled away at some point? >> well everybody knows this and everyone, and the fed has admitted to it. the issue here is, whether the fed can do it deftly. if they move too sudden lenly, that could push us back into recession. that is one fear. if they move to slowly, there are inflation risks and bubble risks if the fed does what greenspan did

years ago, kept yields too low too long. what the markets are afraid of the fed will fail to walk the balance line down the middle. i don't see any reason to doubt them as of yet but of course we haven't seen them do it. in fact it is probably a little early to even begin to test whether they will do it. the end of the year might be even too soon. tracy: right. you think that this market has another 20% left for that exact reason, right? >> for that, the fact with the grains we've seen in the market over the past year-and-a-half, two years, three years, actually, it still represents superb value and that value is one of the reasons why, even when people get scared about the central banks, they get scared about some bad economic news, the market tends to want to rise anyway becaase that value exists. it is one of the reasons the traders are not saying abandon it. tracy: talk about some of the sectors you like now. economically sensitive sectors at that. let's start with tech because tech really, wasn't doing all that great in the beginning. we've seen it come back a

little bit. clearly you think it has room to go? >> well that is where the value is. tech, industrials, consumer discretionary. that is where the value is. so if you're going to try to play this from a long-term point of view which we at lord abbett prefer, that is where you want to go. that is where you get the best buys. you get a better buy if you buy on dips. that is where you get the best buys. that is where the action is going to be in the upside of this market. and i believe up 20% is conservative estimate. tracy: are we looking at old tech or new tech? are we looking at cisco or ibms f the world or facebook or linkedins? >> we're actually looking at both. i would call old tech industrials because that's about what they are. there is opportunity there but also the new tech, i'm not so sure about all the social media because these things live or die in a matter of moments but on a carefully selected basis there is room in the new tech as well. >> milton, quickly before i let you go, is it time to

short gold? >> well, yes, we think it is time to short gold for two reasons. the first is that gold is the quintessential place to hide. if there is value, people will be moving out of hiding. that's at long-term thing. and if the fed does its job and begins to taper off at the right time, then all the inflation fears that are built into gold will start to dissipate and it will suffer from that as well. tracy: that will go down in the history books as the miracle of uncle ben. milton ezrati, thank you very much. adam: we have breaking news. new york city mayor michael bloomberg is announcing a nearly $20 billion plan to protect new york city from storms and global warming. the plan includes removeable flood walls for much of lower manhattan, plus levees, sand dunes and more across the five boroughs. bloomberg's proposal comes after a study that started% after super storm sandy

flooded parts of new york stock exchange. the latest on the nsa leak. edward snowden fired by contracting firm booz allen hamilton for violating the firm's code of ethics this after he admitted he leaked secret information on the government's top surveillance programs. rich edson live in washington, d.c. with the details. >> good afternoon, adam. security officials are about ready to brief members of the senate intelligence committee on the surveillance programs. they will brief house law make this afternoon. as for edward snowden some question whether contractors should have access to top secret information. "the washington post" reports federal investigators are investigating how snowden working for booz allen hamilton in hawaii could access sensitive information. press secretary jay carney says there is little distinction between government workers and those like snowden working for the national security agency through a private company. >> i think it is important to note that individuals who take an oath to protect

classified information are bound by it whether they are government employees or contracted employees. >> the leaks also detail a significant government presence in the servers of top tech companies including google. the company has just released a letter addressed to top law enforcement officials in washington asking the government to release the number and types of information requests it receives from the feds. the letter says, google's numbers would clearly show our compliance with these requests fall short of the claims being made. google has nothing to hide. this is other tech companies try to fight the perception they're willingly handing over their e-mail and phone call information. adam? adam: rich edson in d.c. thank you. tracy: all right. so also going on in washington the senate about to take up immigration reform. kicking off a long-expected battle on amnesty, border security and much more. thankfully "the wall street journal"'s gerry seib is here. he will tell us the likely outcome and impact. that is all ahead. adam: plus we've got liz claman.

she is going to be live from the cable show with viacom ceo phillip dauman. find out about the new exclusive deal with amazon. first it is time to check what's happening with oil. is it still falling? yes it is. it's a brand new start.

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tracy: that time of day. we've got to make money. charles payne is here. this hour he is looking to make profits believe it or not. micro turbine maker. teeny tiny company, right. >> this is tiny company but it us odd, feel more comfortable hanging out in a tiny company than a big one right now with all the pressure on the market. oh the tapering and eventual pullback. capstone has been around for a long time. i think the company, they make the micro turbines. they're starting to come on. they're all over the place. in fact, 666 building there

on 5th avenue? tracy: yeah. >> they have five of them. 1350 avenue of america has 12 of them. they have gotten a giant order from a yacht maker from germany. after they used it for a year, company said it was amazing. better than what they thought. the alternative energy plays you don't hear about. it has been around for a while. in august of 2,000 it was a $9 stock. it has been -- $94 stock. it has been pretty battered and abused but coming on strong. tracy: who do you advise getting in on this. >> i'm not afraid, stock that is dollar that used to be 94 that is inherent there is little extra risk. anyone can get into it. what percentage portfolio. one of these things like anything else. for almost every idea i do subscribers put 5% of portfolio, for the most part. i wouldn't be afraid just like i wouldn't be afraid of owning 5% gold right now as longer term buy hold. this is something i think

will move a lot quicker. tracy: where are you getting out on this one? >> my target is 2. if it popped up to a buck 50 tomorrow believe me i would be out. tracy: charles payne, thank you very much. adam: charles, thank you. as we get ready to throw to nicole on the new york stock exchange we're down considerably from where we were say about 40 minutes ago. some people are saying it is the lunge in the value of the dollar. people worried about the yen carry trade. regardless of that, down is down, nicole, isn't it? >> the yen carry trade has been the topic on wall street over the last 10 days or some we've seen a lot of volatility with the nikkei. japan has been really part of our daily conversation. today is no different. you note the dollar and carry trade of the yen that is something when i talk to traders they talk about. today right now the dollar is lower and stocks are lower. and what we were seeing for a while was the dollar was lower and stocks had moved higher. you would have the inverse relationship. now you're starting to see them move in tandem. they're moving in the same direction. that is reminiscent of the

90s. 1990s that is. it is interesting to watch this correlation in the market that is something that traders on wall street are watching closely. this obviously today is the, something we're watching because of what happened with the bank of japan or better, say what didn't happen with the bank of japan, right? so them not creating monetary stimulus and moving forward with that. instead we're seeing yen move higher and dollar pulling back and our markets pulling back. back to you. adam: nicole petallides. keeping an eye on the dow. we'll see you in 15 minutes. tracy: okay. i'm from jersey, snooki, i can't even utter the words, totally yesterday and totally annoying. today it is all about dora. love dora. she looks like a 9-year-old. but that character is 13. launched on nickelodeon back in 2000. we've been watching her ever since. she is hotter than ever. viacom got amazon to pay big money for dora, spongebob

and a whole host of other content. liz claman at the national cable show with viacom president philipe dauman as well. with you. love, loch dora. >> let me just say something. that deal with amazon came only after netflix allowed its deal with viacom to expire. viacom of course with all the networks behind it, mtv, vh1, b.e.t., you name it, nickelodeon of course. the man who struck the deal with amazon, they're dying to get their foot in the world of streaming content is philipe dauman. ceo and head of viacom. >> his, liz, welcome. >> tracy is all upset. actually she's not. she says snooki was so yesterday and today it is dora. but dora is not necessarily a brand new product and yet amazon wanted it. it wanted that nickelodeon content so much more. talk about that deal with amazon? >> it was a great deal for both sides. we have great content from

nickelodeoo but also from mtv, comedy central, many of our brands. and it's a great additional venue for us. it is very brand-friendly. we sell consumers products. we sell dora toys on amazon, we sell videos. it is a great partner. >> when you say brand friendly, let me jump all over that. will you have deals with amazon prime because that is how it is streamed through. >> yeah. >> will you do consumer tie-ins, product offerings? what is the way that this relationship evolves? >> well, it's primarily a video streaming deal but it is part of the amazon prime subscription which involves delivery of product. amazon of course sells already our spongebob dvd's and a lot of other products and therefore they really like to promote the brand and promote everything that they do. we can drive through our great content, we can drive the future of amazon, we can help them get more

subscribers as we do with all our distribution partners. >> would you ever thought two years ago you would strike a deal with your content for amazon? >> absolutely. absolutely. everyone wants our content. people want entertainment in more and more places. it's a natural. amazon was a big seller of dvds. so they understand entertainment content. they understand video. it's a natural extension for them. and by the way they also are, they have less film outside the u.s. and we have netflix around the world. so the whole category is growing category for us as are many categories. mobile is becoming a bigger and bigger category and will be. the answee is, if you have great content and great brands they're are always new ways to expose them to consumers and to monetize them. >> several hundred million dollars is what i heard. how much did amazon pay for this? >> well, we don't like to disclose -- >> i try.

i did try. >> but, it's fair value for both sides. they get a lot. we get a lot. and it drives both of our businesses. >> we also talk about policy here at the national cable show and of course senator john mccain wants to allow consumers to consumers pick and pay for channels that they want. unbundling. you've been very expressive. you think that's a dumb idea. why should i pay for a channel i don't want when i just want a channel that happens to be run by the same company as viacom. >> well, first of all the whole ecosystem has been very good for consumers. it means you have a lot more choice. you're able to get a discount on a lot of channels and because there's wide distribution of many channels we can invest in content. that's why it is the golden age of television. if it were completely a la carte, it would cost a lot more because you would have to pay a lot more for individual channels. it would actually cost consumers more. it has less choice and that's why, and that's why the system we have today is

really good. >> they're giving me a wrap but i do have to ask you about world war z and china. chinese censors, rejected first cut. world war z, made by your company, are you cutting certain scenes? >> world war z is a great film. audience, around the world will enjoy. >> china too? >> we look forward to people in china as they should enjoy one of the best movies of the year. brad pitt is tremendous in it. >> that is not yet, not yet for china. >> good to see you. >> philipe dauman, head of viacom. coming up next couple hours. in 3:00 p.m. we have matt link of showtime. eight years ago showtime was also ran of b-run movies. who needed that. here they come. they're fighting. they're doing incredibly well. 49 enmies under their belt. we'll talk to him. mike freeze of liberty global. just friday they finished full-time acquisition of virgin media. wait until you hear what this cable operate or, largest in the world on

future of that. 4:00 p.m., tom rogers of tivo. they had a major settlement. big names like cisco and motorola mobility. the stock has not done well in the wake of it but the company and stock have done well year-over-year. the tim tebow question, right? he was signed by the patriots. he is spokesperson of tivo. we'll talk --. tracy: the commercial, i don't know how he does on football field, those commercials with tim tebow are hysterical. liz claman, thank you very much. adam: breaking news. we have live pictures from istanbul, turksy -- turkey between riot police and protesters. there are have been demonstrations for more than a week. protesters are calling for the resignation of turkey's prime minister minister. that is live pictures from istanbul. tracy: identity thieves found a new way to get your personal information and it could have deadly

consequences. adam: here is how the dollar is moving. we told you it was down against the yenn here are the other currencies. [ male announcer] surprise -- you're having triplets. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ osts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can t all the online trading tools you need without t any surprise fees. ♪ it's not rocket science. it's juscommon sense. from td ameritrade.

♪ >> reporter: 25 mess past the hour.

i'm pat brown with 31 minutes. more violence in turkey. riot police fired teargas and christ barricade set up by demonstrators occupying a park in istanbul s3 to you now have live video of what is going on. the anti-government rally started 12 days ago. non-violent protests against a plan to upper treasonous city park for. the unrest has now spread to 78 cities across turkey said. new york city mayor michael bloomberg is announcing a $20 billion plan to deal with climate change efforts after a superstar and sandy. his proposal includes destruction of levees, flood gates, and removable walls to protect york in the event of a future super storm or hurricane. and in new jersey for princeton university has been evacuated following a fund and bomb threats to multiple buildings. graduation was last week, but some programs are in session if. the universities is local, state , and federal law-enforcement are investigating if. those are your headlines. i'm patchy and brown. now back to adam and trace the

sea. >> president obama's of law is aimed to save money by creating a nationwide system of electronic medical record keeping for. could do more harm than good. medical identity theft is a growing problem in this country. we're joined with a look at a company that is trying to protect her medical information online. >> well, it is not so much a company that is try to protect her medical information. but we did was right sidesaddle somebody who showed just how easy it is to steal your reformation. some 94% of health care organizations say they have been breached. information has been stolen. how does that happen? how does it work? we talked to someone but exactly how that happens. >> when an attacker wants to steal electronic medical records, what they can do is they can use a search engine to adjust search for the words law again, password, and help. they will get thousands of sites that are connected to the internet they you can be pretty sure those health care

affirmation is behind that logging screen. tracy: what are researching? researching -- password, again, helped. the three words. >> and a different websites are coming up. endophytes is click on one year, you can see the log in page. >> presumably if i worked at some kind of health care facility this is why would log into everyday. >> exactly. >> so that was of jericho. he held this with that. but he showed us is just how easy it is using government databases to open that door, to get into the systems. about half of doctors' offices are now online. this is what makes it possible. a% of hospitals, as we told you a couple of weeks ago. your medical ever mission is more valuable that your social security numbers these days on the black market. as a result the fbi says that people who typically would have traded drugs, who would have sold drugs are, instead, buying

and selling a medical debt. >> this is craziness, but you're doing this tomorrow night. >> we decided to come on early. tracy: this is good stuff. tracy: what is going on tonight? >> we are talking about this tomorrow, but we're talking tonight about of the privacy issues. in new jersey they are now facing -- they may pass the bill allows the cops to look at yourself, get into your cellphone if you have an accident. so the presumption of guilt is sort of going on. very controversial. people wondering, is it like drinking? damning, how far should we take this issue? adam: and you can watch "tracy and ashley" tonight at six and 9:00 p.m. eastern right here on that fox business network. tracy: all right. will the push for immigration reform gaining momentum and washington, how late could impact the economy and american business all next. adam: right now take a look as some of today's winners and losers. ♪

♪ adam: a little less than 90 minutes until the close. you want to take a look at the dow 30. nicole petallides is that the new york stock exchange with an update. >> reporter: there is a lot of red on the screen today. also a lot of volatility. the back-and-forth action. down 150 points, black -- back. now we're down. that is the current environment. if there was some months we were not seen too much volatility. now we have 200. moves. to the whispering about 15083 volatility is the name of the game, at least at the moment to read let's take a look year and a winner. this is one that is green, of

over 8 percent right now for a game stop, -- game stop taking pre orders for the new x box. the new ps four, the police station for. so does the holiday season approaches they're already taking orders for these new game consoles. everybody knows that can stop is really based on the new hardware and new software, new games. so now with two new game consoles out, that's the news. adam: thank you very much. more breaking news. oil closing down $0.39 at $95.30 per barrel. today's close is the second straight day of losses for crude. tracy: we will feel that the pop. well, we have major updates and the feature of immigration reform. the senate is currently voting on whether or not their emigration bill will move forward off. this comes on the heels of president obama pledging support for the bill. meanwhile, the house speaker told abc's good morning america that he thinks there is a real good chance that the bill could be signed into law by the end of

the year. with all this momentum, what road blocks lie ahead? joining us now, wall street journal's washington bureau chief. to me, this should be somewhat simple. yet typical washington dysfunction, a isn't. >> welcome i don't think you should expect anything to be simple and washington. but this is a big bill. this is the first in 20 years that there is best serious attempts to rewrite the immigration laws. it is natural that people take this seriously, and it is contentious. this up is underway in the senate right now about whether to proceed with the bill will almost certainly pass which guarantees a couple of weeks of debate. at the most people think at the end of that couple of weeks that this will pass in time for the fourth of july recess, but it is not certain. there are still a couple of big obstacles. one is an attempt by republicans to toughen up the border security provisions of the bill. they may or may not succeed in doing that. they succeed, it may or may not cause some democrats to follow white.

secondly, there is a broader debate about what the senate is going to put together. that is why the house speaker said this morning, which you just noted, it's important, an indication that he thinks this will be done where the other. adam: is there a way to separate the one issue that allowed people seem to be an agreement upon which is the foreign students who come to the united states to get advanced degrees to then have to leave the united states instead of working here in helping our economy grow. is there a way to pass that separately if the bill doesn't make it? >> there would be. you could get the votes to do that, but this is one of the tricky things. democrats don't want to do that because they are looking for a comprehensive package. their fear is that if you pass measures that allow companies to give more high-tech workers, either by doing it that way or allowing college graduates to state or by bringing in more workers who is skilled worker vises. remove the incentive for a broader immigration reform. so while everybody would be in favor of that, it is how to take this apart because that you have people picking and choosing.

you don't get a comprehensive reform that and democrats in particular are demanding a comprehensive reform. you know, there is more than ample supporr for those measures to get more high-tech workers year. it is just procedurally you're probably going to have to get that loan is part of the comprehensive package. tracy: there are a lot of other things. this notion that we will do this sweeping 11 million illegals are all income everything is okay, not to mention it will cost us billions of dollars to do this. >> to make, but on the other hand, most will tell you it will be worth billions the long run to the economy because you're not only going to get high tech workers to create jobs -- there is a consensus among economists. a long run you give all workers paying -- turning wages and paying taxes to help give for -- pay for some of these medicare as a security benefits and you give more consumers of their legal and above board. some short-term cost and probably a lot of long-term economic gain. one of the fears democrats have on this front is that it is a driving down wages. you can give economic debate

that will go on all day long about that question. tracy: before rerun -- before we run, play this out. >> i think what happens is there is a healthy debate, probably some steps taken in the senate to toughen up border security. i think republicans want this to pass. the mix mcconnell wants it to pass. part of you're seeing now is optics that will make it look like there was a good fight. think it gives them one where the other by the end of the year. i'm with the speaker on that. tracy: good stuff. thank you. >> thanks. tracy: coming up, stocks again trying to make a comeback. down down 71 points right now. nyse trader would give us a play-by-play on today's volatility. adam: american small business is cutting back on its plans to hire. the nfib tells us why just ahead. first, you want to check your chin and 30-year treasury. ♪ you make a great team.

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♪ adam: we want to show you again, live pictures from istanbul. glasses are escalating between riot police and protesters. there have been demonstrations across turkey for more than a week. protesters are calling for the resignation of turkey's prime minister. we will keep an eye on this. between europe and asia. tracy: all right.

well, and what is being called a first for major broadcast network abc has lost an online talent competition in the search of the next overnight star. we have the story. >> reporter: well, remember that prettily all 70's song, you don't have to be a star, baby, to be in my show. tracy: i do. >> reporter: that is what abc -- the network is saying as it launches make ms. stark, an online talent competition for actors and comedians. now, aspiring talents send a nest of by july 12. the public will vote on your entry. or you can enter a separate competition that only abc will judge as facebook. snow, the winner of the public contest system doesn't dollars in the six month development deal with the disney on abc. winner of the private abc competition will do even better, 25,000 a 1-development deal. now, disney's stock up over 40 percent in the past year despite struggles at abc which

has canceled a dozen or more shows this season. and abc is seeking no name talent at a time when other major networks are unveiling new shows with superstar talent. michael j. fox and robin williams and then the san burger saturday night live. on-line, i agree stage for new talent. justin bieber broke first on youtube, and now he's huge. a little help from his mentor, i share. stevie ran started this latino up a character in their own new to video and has parlayed that into tv, a comedy sketch show on vh-1. now imagine there are tv executives to spotted victory in robber of four that viral youtube video. abc execs saw that video when it had only 33,000 used. later went on to get over a billion views on youtube. the make me a star competition is abc's attempts to block of viral talents even before it goes viral. tracy: .

>> you have to be age 18 or over to enter, but abc was to set up a separate online competition for kids. says stage moms everywhere, get ready. tracy: damning, abc families begin my house. a lot of kids' shows. >> reporter: everyone laughed when they paid too much money for that channel. it's been a huge hit. with an executive who said she discovered before it went viral, what would you have done with that? did she try to do anything with it? >> reporter: she had no idea. that guy is making money hand over fist. i don't know what you do with him, but certainly it to warrant a cameo on a sitcom. tracy: i can't even believe it at 33,000 hits, by the way. >> reporter: even by then, billion, billion used for. tracy: crazy. >> reporter: that is the online platform. tracy: good to the talent they need. all right. small business confidence rising. but the chief economists says a closer look actually shows some

concern. tracy: next. adam: right now take a look at some of the day's winners and losers. the dow is down 82 points.

♪ tracy: down 85 points. we have to check on the markets. nicole petallides standing by for us. what's going on? >> reporter: a lot of names on the move. the story is the volatility that we have been seeing. we took the cue from our global market. the dow is down about half a percent. about 150 points wing.

volatility is back off. this year index is one of the few green index is on the board there, on the big board. it really is the level to be more precise. the victims of over 5%. i'm guessing a lot of this sell-off came because of what we saw over in tokyo. the bank of japan to electing not to take fresh measures for monetary stimulus cents a really obvious to stimulate their economy more which brings our eyes back on our own federal reserve here at home. the dollar has been to the downside, accelerating lower. your seeing that the index equity market is moving with the u.s. dollar, which has not been what we have seen lately. that is a new trend that we are also watching. tracy: thanks. you will see you at the top of the hour. adam: small-business optimism picked up over two points in may to 94 reaching its highhst level since may of last year. but our next guest says it is tough to get excited by a meager growth and an otherwise tepid economy. joining us now, not the chief

economist bill dunkerberg. thank you for being with us. one of the things that stood out from this survey was that 24 percent say that taxes are getting in their wake of expansion. is there anything coming down the pike that is going to help them? >> no. there are more taxes coming down the pipe certainly in the health care bill, so they will see more of that. you are the president asking for more revenue. he connected with higher marginal tax rates was to get it by getting rid of deductions. of course, two-thirds of the small businesses out there are pastor organizations in the wake. it is not a lot of good news, certainly for the small businesses. large businesses are still hoping for a change in the tax rate on corporate profits. of course, most of the small businesses are not incorporated. adam: this is the first time that we have seen flat job creation, at least as reflected in the survey from small-business owners, first time since november of 2012.

as an investor that would trouble me going forward since this is the dynamo of the u.s. economy. these are the people we eventually hire. >> well, that's it. we have to do a lot of hiring still. i think we fired most of the people that lost their job and the recession. we have not hire them all back get. so we are still about 3 million short of where we were in 2007 in terms of total employment in the u.s. hiring plans did fall one.. normally in the recovery, the spanish in, you would see double-digit percentages. we are looking at only five. so it is positive. it is certainly not very strong. and we ask him about actual eire over the prior three months. what we saw after five of sticks in the past five months was a drop to the essentially zero. so they said that they did not add any employees' recently. and that is that good.

adam: this is something that if -- looks really troubling with some of the american side define their next. 81 percent said that they were looking to hire, but there were few or no qualified applicants. we talking about high tech jobs are we talking about pretty basic things your? >> well, you're talking about pretty basic stuff. these are barber shops and little retail outlets. this is not -- these are not high-tech firms, small businesses out there. and, of course, there are many aspects. one is a lot of people can move to where the jobs are, like north dakota. plenty of opportunities to work there. another is a lot of the young people just don't know how to dress for success. bad attitudes, expecting much. they have poor people skills. they're really not interested. that disqualifies hem when they apply for work in the small-business. adam: can i challenge you? and going to put in a good word

that's well say. what you just said, is that legitimate? you hear this every generation. and i was in my 20's they complained about is that having a good work ethic are you truly hearing from small-business owners that the 20 somethings are not prepared for the work force to back. >> well, i it may be that they -- the 16 to 20 somethings, the very young people you want to get into the labour force early and get them trained. we did a special study of the onetime aayear or two ago because people said, how can 19% to you they have a job opening of their having to of filling. we did a special study of the job openings, what can there were and what the problem was. and, of course, we found was an astounding number of complaints about attitude, dressed in a style. so not just the things that would take time to fix the getting a better education, getting math skills, but things that they could fix in the

mirror on the morning before they go on the plight and watching how they talk. things that could be repaired very quickly. it doesn't seem to be done. the same time we're trying to raise the minimum wage. adam: ibm member workforce. adam: yesterday we had on the ceo from deloitte to set some of the best advice to get was to save the big bushy mustache and where opprobrious suit, not the leisure suit. there is some. >> exactly right. tracy: talk about slight cyclical assets. "and accepted 15,000 bottles of wine. collateral from of former high-ranking executive at the bank. that is according to regulatory filing that was obtained by bloomberg. it seems that a former executive apparently needs the money to pay for legal fees tied to a lawsuit filed against him by a

hedge fund manager. winds have outperformed the stock market over the past decade. private banks have been hesitant to accept them as collateral. there has been a lot of counterfeit. china in particular for that. but 15,000 bottles. this is good wine, that could be some serious collateral. adam: it would be nice to collect on that and then have to pop the cork on all of it. tracy: it tasted and make sure is okay. adam: all right. liz claman is joined by two media moguls. the chairman and ceo of showtime network and a michael freeze, the ceo and president of liberty globalize going to discuss the future of cable and whether on-line streaming companies like netflix to present a great challenge. countdown to the closing bell starts in just a few minutes. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and hathem show us. we learned a lot of us have known someone who's livedell into their 90s.

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>> dan gable remain king? this is down with to media moguls. the chairman and ceo of showtime network. the ceo and president of liberty global. japan. now this satellite tv provider scuttle the plans? what does it mean? we will break down. and can blue linen remain? and now a new ceo is needed. the stock is looking stressed. a special edition of "countdown to the closing bell" starts right now. live from the national cable conference in washington d.c. ♪ liz: and here we are live from the cable show 2013, the crowds are here behind me. and what i did doing? they are looking at the next hot thing. is it the