lori: is there such a thing as too much transparency? >> the victory for gay marriage. the supreme court strikes down the denial of federal benefits to legally married same-sex couples. time now for stocks. nicole petallides. we are still in triple digit gains. nicole: they think they are on the way, at the moment. you see triple digit gains. we have pulled back some. we are up about 104 points right now. it actually is the same for the nasdaq and the s&p 500. we are seeing winners across the board. i heard you note gold at the top

of the show. that has been very weak. take a look at boeing. of about 2%. microsoft unveiling the new 8.1, windows 8.1. dupont, coca-cola, some of the names leading the way. it is interesting, also, as you watch different stories. names like blackberry with a top. china relief rally. gdp numbers, that is what we are talking about. >> samuel adams and buffalo wild wings up almost 3% today. thank you very much. see you in 15 minutes. lori: let's talk about gold. the price of the pressures meddle humbling for the first time. let's talk to phil flynn.

>> it is sentiment on what the feds do. it is concerns about china and the fed pulling back here and how far will it fall? $1200 is what traders look at. with his drop in gold down to 1250, this is probably the closest we have been to the nominal cost of production in over a decade. this is a very critical area. it will be interesting to see if this 1200 holds their key area. lori: does it mean in this cycle? give me a time frame. >> they are saying it will

happen in a matter of onths. you are seeing all of the big banks jump out of this market. 1200 is probably the numbers of people in the industry is looking at. that is why it is really critical fundamentally. lori: canoe had oil for me? >> oil right now. rbob gasoline. 1992. midwest, though, cannot get a break. another refinery went down because of a storm. lori: phil flynn of price futures group. >> gdp grew at an annualized rate of 1.8%. could today's revisions force

investors to rethink their expectations of when the federal reserve may start to taper off? brian jacobson is the chief portfolios at wells fargo. i want to ask you about how it affects stocks. just yesterday, we had a consumer confidence reading which was at its highest in eight years. >> we do have a conflict, but you can reconcile. the consumer confidence numbers were from a little bit more timely last month. there was a slowdown in the economy. it is an acceleration from the fourth quarter of 2012. consumer confidence is beginning to pick up, but that is why we are hoping to see a little bit more rapid growth in the third

and fourth quarter. >> as an investor, you may want to digest all of this. the fed cut its projections. i believe you told one of our researchers that more growth to hit expectations, that would require some iraqi list improvement in economic activity. >> that is correct. that is my expectation. when chairman bernanke was at his press conference, he said if our projections are correct, we will begin tapering by this year. the keyword is it. they are nowhere close to being correct with their projections. investors should expect the fed to wait a little bit longer before they begin to taper. >> the dow right now off of its

peak of 4%. still, the figure, we are up almost 12%. end-of-the-year, where do expect us to be? >> by the end of the year, under the indices that i like to follow is the s&p 500. it is a fairly decent game. it is probably still better than what you can get on a ten year treasury. i think that we do have some upside here. you should be looking at doing more of the stock selection or start their selection. >> disc to addiction and consumer confidence, consumer spending was down in the first quarter. you are expecting it to go up? >> i would not be looking at a lot of the consumer stocks.

what consumers say and what they do are two completely different things. what we could see is consumer confidence increased. we could see what people are willing to pay for the market. i would be looking at more information technology and industrials. those are the areas that from a valuation perspective, you can get the most bang for your box in this type of environment. >> you so much. best of luck. lori: peter barnes is in washington, d.c. with all the details. any clues on future monetary policy today? >> i am afraid not. we were watching this hearing

closely because they are both hawks who have opposed recent easy money policces over at the fed. they are both hawks on banks that are too big to fail. that is what they were testifying about at a hearing that just wrapped up. they both believe that dodd-frank financial form does not and too big to fail. lacquers is, in fact, the law may box regulators in. >> i think that depression traps policymakers in a crisis. expectations build up that they may use that discretion to rescue quitters and let them out, let them escape losses. policymakers feel compelled to fulfill the expectation in order to avoid the disruption. peter: the former head was left

to defend it. she said the agency's ability to take over a big bank and too big to fail. lori: thank you. >> two days a week bp reading. good news for bond investors. snapping the longest run of the client in more than a year. lori: student loan rates set to double. >> nassau is looking for your help tracking asteroids. we have details on how you can get in on this one. it is not just a videogame. coming up. ♪ i turned 65 last week.

the math of retirement is different today. money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfs. low cost and diversified. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objecves, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.

♪ >> we want to take some time to make some money with charles payne. a follow-up on canadian solar. charles: a lot of people bought first solar.

i did this one on june 17. it is looking really good. look at the chart. breaking the 52 week high. it is making a really nice move here. the deal with samsung up in london, ontario. they have two big deals out there already. 255 in the united states. 125 in japan. the u.s. is sort of obvious with the direction the president is going in. japan, because they have sworn off nuclear. the residential market there is pretty huge. upon this breakout, let's call it a close above $11.10. i think it will really take off. >> doubling renewable energy. i imagine some of your taxpayer money will go to buy this stuff.

what i like about this company is they double in globally shipments. they are doing everything right. lori: what is your overall take or advice? charles: this is when you separate your ideology from the ability for a chance to make a lot of money. i am not a big subsidies type of guy. i think they will press hard around the world for the next few years. if you cannot beat them, join them. i still think first solar and the other ones. these kind of companies tend to be more volatile.

it is not true organic growth to justify the stock price. lori: charles payne. charles: you look fantastic. what did you do different? lori: it is though black. it is that out on the town black. thank you. let's get another market check. watching apollo group and looking smashing herself. nicole: thank you. apollo group is a different story. down about 9%. some accelerated selling. just off of its lows for the day. number one enrollment. they have had weaker enrollment. that does not do well for them. they saw their quarterly profit shrank.

their revenue missed the analyst estimates. did boost their full-year expectations. put that all together. it puts it under pressure. of course, apollo operates university of phoenix. they have been under scrutiny because there have been talks about people who graduate and then are inundated with that. lori: great point. see you in 15 minutes. >> a deal on student loan debt is not looking likely before congress leaves for the july 4 holiday this friday. a spokesperson for harry reid says there is no deal on student loans that can pass the senate. the interest rate on a stafford loan will double to 6.8% from 3.4%.

the change will not affect existing loans, but will impact 7 million students. it is a cap to protect students in kay's rates spike. tracy will spark with luke metzger who is in favor of this. this will be a big hurdle for them. lori: i think they should just let the rate rise. >> let's have this discussion again when your oldest is 17. lori: there is a huge bubble, a lot of people would argue with student debt.

>> engineers as opposed to librarians. lori: i think it is fine to fix it. i think it will send a message to students. maybe they will be a little more particular about making a decision whether or not to accept it and be burdened with that dad. >> you cannot burden people under the age of 22. >> we will drink over it. lori: you are buying. slow economic growth sending investors back today. >> windows eight redo. microsoft looking for a fresh start. also, taking a look at how the dollar is doing today. ♪

>> it is 22 minutes past the hour. the tight end was arrested earlier today and taken from his home in handcuffs. that is hernandes.

and cleveland, a judge has ordered a court appointed psychiatrist to validate ariel castro. he was charged with kidnapping three girls and holding them captive in his house for three years. it could take months to decide if his country will grant asylum to edward snowden. putin says snowden is in the moscow airport. he is still refusing to extradite snowden to the united states. those are your headlines. back to lori and adam. lori: thank you, heather. the third quarter reading coming in lower than expected beard much lower, actually. worries about slow economic

growth are sending investors back into bonds. >> hello. how are you doing? lori: doing well. thank you. what is happening today your eyes? >> well, the bond market, of course, has gotten a bit of a shellacking over the last six-eight weeks. they have introduced new information into the market, along the lines of the expectations that have existed for a long-standing continuation of qe and zero rates. it is not really clear to me that a single update predicated on what you pointed out, a relatively significant downward revision to q1 gdp is enough to really change the picture.

connell: it is a volatile market in fixed income, really in the last month. we heard from to that speakers today. do you expect the volatility and bonds to continue? where will rates stabilize at this point? in the near future? >> of course, probably if we knew the answer to that, we would probably have to quit our day jobs. in the near-term, of course, the markets operate like voting machines, they operate like weighing machines. i think it is a matter of guesswork. i think we can say this. the belief that the fed would be forever easy or using intel 2013, that is done. do not think that the genie goes back into the bottle.

lori: i want to come in here and get your take on what is driving the bond market is it solely the fed? what is going on with interest rates? can you say at all that it is a proper reflection of where the economy is headed or is it just a referendum on the fed and people's expectations of bernanke. >> it is mostly a referendum on the fed. i think it represents a reconsideration or reappraisal of the fed's idea that just because growth is slow and inflation is low that we get qe4 a long time. lori: i think we have a delay in our connection. i apologize to our viewers for this seemingly awkward conversation.

>> the places to look at that i think have become interesting are the high-yield markets. it is not yielding about 7%. given the low level of the book in that class, that has become interesting. the emerging markets have taken a considerable down trade as well. short duration bonds and floating-rate intranets are also very interesting. lori: excellent. thank you so much for sharing your outlook with us. >> a review of windows 8.1. attempting to fix several problems consumers had with windows eight. those updates will allow users to start in desktop mode automatic way.

take a look at shares of microsoft right now. up 26% year to date. people do not seem to mind that the start button went away and now it has come back. you have your cell phone and swiping. have you ever caught yourself? lori: fox business exclusive tonight. john mcafee joins neil cavuto. he will get answers on his escape from bullies. edward snowden. fox business tonight. the last day of the term it is a big one. lou dobbs here next as the court rules to allow federal beeefits to allow same-sex couples. >> talking about your investments. we are up 136 points.

we will go to the new york stock exchange when we come back. ♪ you make a great team.

it's been that way since e day you t. but your erectile dysfunction - itld be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you cabe more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if yr heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause unsafe drop in blood pressure. not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immedte medical hel for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives,

swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a 30ablet free trial. (announcer) at scottrade, our clto make their money do more.re (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning

every step of the way. because they know i don't trade. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." ♪ lori: and the stock market skipping ahead to see the dow up 138 points despite a weaker fifth quarter gdp coming in at just under 2%. the expectations. ben bernanke and france, we will keep their foot on the gas. and current month -- monetary policy. let's get an update on the markets in detail and it check in with nicole. near session highs. a big gap in alaska but minutes. >> reporter: first and foremost, the dow, nasdaq, and s&p.

if we were to cross 14,900, that would be the new hyatt today. you are seeing gains across the board. i want to show you gold, something we have been following. not good news. here it is coming down $43. 1231 a troy ounce. obviously getting hit hard. gold for this quarter is down about 20%. the steepest -- weakest performance that we have seen in gold since it started trading back in the 70's. here's a look at newmont mining down 5% sitting at 2747. many of the names in the group are hitting multi year lows. 52-week lows. you can see all down arrows for this group. while we are seeing so many of the other sectors with up arrows, precious-metals and materials with down arrows today. lori: thank you very much. adam: some people like to live in a bubble, but we don't. there are headlines, a victory

for gay marriages the supreme court strikes down a federal provision denying benefits to legally married gay couples and issuing a separate ruling that paves the way for same-sex marriages to resume in california. it is time now for lou dobbs. i imagined a lot of people are talking about this. >> it is interesting. my reaction to all of this has been good. now we can move on to something of greater substance and merit. about 95 percent of americans. i have been for gay marriage throughout. i see no point in excluding anyone from the constitutional right and also, you know, the primary defense of marriage folks can get back to doing just that, defending traditional marriage rather than attacking gay marriage. it would be exhilarating if we could hear from the evangelical

conservatives talking about what makes marriage such a great institution, talking about why it's so important rather than attacking the beliefs and the means and desires of others. adam: this will also -- the constitution. >> it will also be very good to you all the folks able to take a rest and just enjoy their rights. adam: the other thing, for instance, the woman about the, you know, the case regarding the defense a marriage act, she will not inherit what was legally hers. now, the benefits, the security benefits him. >> is pretty straightforward. equal rights. let's all agree on one thing. the founders meant that. we should in every aspect of our lives. lori: the tax savings. >> tax savings, everything else. the great thing is we move forward instead of being locked into this silly fight, and i mean that. and i'm sorry if i offend

someone, but the fact is it has been a silly fight because it has been a transparent and obvious inclusion and a result that should be reached and it was by this court. adam: because of the ruling as i am understand it, if you're new york you get federal benefits. [inaudible conversations] >> i have a question for you. adam: go for it. >> why is it important now? is done. adam: does not what i'm asking about. >> and not talking about what you're asking about. adam: let's say you have on the sexual couple that lives in the state the does not recognize gay marriage. [inaudible conversations] >> let them enjoy their lives and they're rights. adam: i'm saying that. do you think we would see people move to states like new york? >> i have no idea. lori: let me take it to another news story unless you want to continue the debate. they're asking me to talk about the latest on the nsa leader. of course this is edward

snowden. we have russia at ignoring the u.s. calls to extradite him. so this puts an even greater strain on already tenuous relationship with russia. why you think that russia is not cooperating with the u.s. with regard to the situation? >> it could have something to do with our state department and this president demanding his return to the united states rather than asking an international partner. that would be my reasoning and reaction where i the russian president. the second part of this, a country that is in desperate need of a president's it is focused on issues at hand. he is talking about climate change when shortly what he wants to do is change the subject mired in scandal. fiasco and international relations and foreign policy. this is a man who is shedding regard and respect for the united states at an alarming rate to the point, why should china, why should rush to pay attention to him? lori: you think it's our fault

that we have not gotten our hands on them yet? >> i think that in these things we should not be so sure that things are not playing in a way that has already been decided. lori: what do you mean? >> this is now i great game. i think that you will see consequences that, perhaps the russian president and chinese president did not anticipate because now engaged is the united states, and we have not had a very good record and just turning the other cheek when affronted. the problem is we have a president who makes all of that problematic. but i believe in our intelligence services and those who represent our interests across this government. i will assure that some respect, some measure of respect and regard is regained. adam: all right. you can see him every night right here on the fox business network at seven and ten and tonight you can catch alabama attorney general in south carolina attorney general

discussing voter rights and the future in light of yesterday's historic supreme court decision all on the lou dobbs tonight. thank you for being here quicker to be with you. lori: see you soon. >> you talk too much. lori: me? adam: no, that's me. lori: he's feisty. the case against palin. charlie gasparino is next as that government scrambles. adam: still feeling the hangover from the u.s. draft. and up close look and concern over the genetically modified seeds. ♪ [ male announcer ] if you suffer from a dry mouth

then you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliv can also lead to tooth decay and bad breath? [ exhales deeply ] [ male announcer ] well there is biotene. specially formulated with moisturizers and lubricants, biotene can provide soothing relief and it helps keep your mouth healthy, too. [ applause ] biotene -- for people who suffer from dry mouth. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] ithouldn't be this hd. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com.

♪ >> reporter: i'm at -- jo ling kent with your fox business brief. stocks soaring despite a disappointing report on the u.s. economy. right now the dow is up 137 points. ruling out a program that helps employers cut health care costs. the new option lets employers pay only a set amount for medical service. workers will select more expensive care and baited difference. the new option will be available for coverage in january. contested by a number of large employers and will not be offered to any client with at least 100 employees. legendary commodities trader marc rich died in switzerland today. he fled the u.s. in 1983 after being indicted for tax evasion, racketeering, and sanctions withdrawn. he was 70 years old.

does the latest from the fox business network, giving you the power to prosper. ♪

♪ lori: as the government races against the clock to convict steve cohen, the continued to scramble to build evidence against former sec capital employee matthew march. will the fed be able to convince him to flip and oust his former boss? the plot thickens. here is fox business senior correspondent charlie gasparino. >> reporter:, have to rewrite the end of my book. it is possible if they get this guy to flip. what we do know is this, they're trying to get additional charges. a pretty big story. trying to get additional witnesses to flip. and in that sense try to put the pressure on him to flip. in their view he is the best way to get him. forget about rico.

a story in the journal today about ignorance of bad stuff happening. forget about that. this is the case, the clearest case. and as of right now they do not have a case. we should point out we put calls into his lawyer, no comment as of now, but i will tell you, this is a very difficult case for the feds because if you don't get him to flip, and he is the guy that share the allegedly inside information about the trials on drug stocks back in 2008, he allegedly shared the information. and upon sharing that information they reversed a major trade. something like $800 million trade. they really believe that he ordered that knowing what was on the phone call was inside information. they don't know exactly what was said because they did not have a phone tab. they do believe that he is guilty of inside information because they have an operator

against him, one of the child doctors involved in those two stocks. lori: can i come in here really quickly just to repeat a little bit? does the entire government case reston and flipping? >> that's a great question, and it is hard to tell. what i know based upon what i know, they are trying other avenues. we were the first to report a possible rico case. there are other avenues. i'm not saying that h guilty i am a civil libertarian. i have written columns on this. he deserves the presumption of innocence. the government to my belief, thinks he is guilty. adam: you are following behind the scenes. this late in the game, if they have not built the case, is this a setback? >> that's a great point. the former mayor and u.s. attorney back in the 80's, no. when after white-collar crime, one of the major prosecutors. he believed that if he had the case he would bring a by now.

a judge this. leno is there are witnesses that they're trying to turnoff. >> trying to put pressure on him. now, if they are doing that, okay, i can tell you that the case against him involving colin is pretty, you would think. for all i no -- >> i'm happy to be wrong if i am. >> based upon this bit of evidence, and here's the one thing i will tell you. awesome stuff goes on every record that i will tell you that people at the justice department say is 100 percent wrong or 50 percent wrong or not calibrated right. i will tell you what my sources are telling me. they're trying to flip these outside witnesses to get more stuff to bring more charges. i can only tell you that the surmises that they don't have the case yet. lori: meantime, is it business as usual?

what is it like working there right now? >> they would say it is. i would say, a source that knows about the trading, the activity has been cut back fairly dramatically. so depending upon who you talk to, they say it's okay. a fairly decent source on the outside says it is not. they are not trading. there rollback. we should point out that the deadline on charges regarding that is july 28. my book comes out july 1. it publicity starts july 8. i will throw all that in together. adam: a lot of people will want to read this book. >> it's up today today. adam: charlie gasparino. lori: thank you. adam: every 15 minutes, right now the dow is up over 140 points. we will check in on the floor of the new york stock exchange. as we came on the air, we have actually seen it trend even higher. what is behind this? >> the market was due for a

rebound. 1560. we called it an oversold market and have seen it in the rally back. i think pirates to what we were seeing, just normal movement, but i want to crack that the fed had a five-year bill auction. priced out of the highest yield that it has been for several years. the bid to cover was not terrific. we have given the great on that option to be some money flowing back into equities. the economic data today and that gdp standpoints was not very good. gives people comfort that the fed will stand in there. there will keep equis and slated for a while. adam: all right. inflated equities to some people sounds good. lori: reporting a 3% drop. that is better than wall street expectations. higher costs and weaker demand.

more detail force. >> reporter: of field of non genetically modified week. this was not sold to you by monsanto. they have control. the soybean, genetically modified soybean and corn market. they did okay today on their earnings. >> that is what you mentioned. i did not notice. >> reporter: he spent a lot of time with the products. they have taken some heat because of genetically modified we turned up on a farm in oregon . asian countries have blocked imports of u.s. wheat. does that worry you? >> it does not really. i think it is an isolated incident. it is -- the white we market is not a huge market for what we do in this area especially. >> reporter: clearly not heavily impacted. this is soft winter we, which is not affected, not genetically modified. so if you have concerns about that go ahead and heated up.

lori: is that back to us? adam: it sounds like it is. a little tustin better is always good. between a rock and a hard place, and it wants your help. how you can help save planet earth from a deadly asteroid. it sounds like a movie. lori: oh, yes. the former queen of daytime tv is back on top. ♪

♪ adam: she may have been down, but she was never out. oprah winfrey has landed in the top spot once again on the

forbes list of most powerful celebrities after spending the last two years in second place and seeing her earnings fall by $88 million last year. ober is still a force in hollywood. forbes is not just down earnings and net worth. her strong internet presence and reliability with american consumers has landed her in first place again for the fifth3 time rounding out the top five. pop singer lady gaga. steven spielberg, beyonce. lori: that's too funny. nasa looking for good advice. maybe you have the answer. they are looking for academic scientists, regular folks from all over the world to offer their advice on how to deal with potentially dangerous asteroids. the agency wants to hear your suggestions on the best way to protect -- detect * how to use a spacecraft to change their orbit

the best year to wear when landing on said asteroid. it is an unpaid day. the deadline to get your idea in august 13th. adam: i'm not joking. someone designed this. it is ridiculous, of course, but they will take any idea. lori: coming up. adam: a quick programming reminder. right here at 1:00, tuesday, july 2nd at 1:00 p.m. eastern the hour of fd and will take a special look at the business of autos. monthly sales data which has been one bright spot in an otherwise sluggish economy. lori: we love your responses. george mason university finance professor usually comes on to comment about the housing industry. he said his first car was stolen one. he was kidding. adam: keep that tweets coming

about your first car or favorite car experiences. lori: come on. you won't share some of your best experiences from your teenage car? adam: that drink to argue over. lori: down. adam: we will take you through the next hour of trading. coming up, deutsche bank economist tells us the best and worst sides he sees in today's gdp report. keep it right here to keep an eye on your money. ♪ money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to do it. ishares incomes etfslow cost an. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes

investment o objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible ss of principal.

adam: welcome back to markets now. i'm adam shapiro. tracy: and i'm tracy byrnes. collet another bad news rally because stocks are a big on the news that the economy was weaker than we first thought. hoping the fed will keep the money prrnting going. despite gdp news, deutsche bank

economist says that the fed actually my stop the printing presses even sooner than it thinks. adam: also, gold is tumbling for a third straight day. on track for its worst quarter in history. how much lower can it go? how should you adjust your portfolio? one big money manager joe will weigh in. tracy: congress is running out of time to stop student loan rates from dublin. republican congressman is urging both sides to broker a deal. it is the top of the hour in time for stocks. the dow is moving up 144 points. nicole petallides on the floor of the exchange. >> reporter: we are breaking through highs of the day. the data on industrial average 14,900 mark. up 146 points right now. stocks are to the upside. the exception of gold, precious-metals.

a stronger dollar and commodities law return charts to give the of feel of where we're trading. as i noted, gold and those types of metals are under pressure. the talk of fed tapering still remains. that's why we're seeing in selling off in a live. when we charts. last week was a losing week on wall street. we will see whether or not we can get some gains. last week was a pullback. let's take a look here at microsoft. we are watching microsoft closely on the day of the development conference, the three day conference in san francisco. microsoft windows version 81. users are hot on microsoft, and upgrade on the top of the restructuring. that certainly was noting. tracy: think you. we will see you in 15 minutes. adam: gold and silver are on track for their largest quarterly loss in history.

we will throw it to contributor phil flynn from the price futures group. we are watching all kinds of gold related stocks. gold resource. what is behind the sell-off? >> reporter: everything. obviously what tracy said, the fear that the fed will cut back on tapering. absolutely no doubt that that has been a major factor with gold. quantitative easing, but you mentioned we have the biggest quarterly drop. such a big problem because we have been at record high levels. this incredible sell-off. it's kind of interesting. that $1,200, that's what they call the nominal cost. that fear is that if the price falls, these that are taking a big hit are going to borrow in the talents of producing gold. it will be interesting if it can go, but to tell you this sentiment, the bond market, bad gdp, the bond market, maybe we will be as close to the tapering

gold is off of the momentum. copper is the other one. it showed a little bit better momentum. rolling over into the september contract. below $3 per ounce which could be because china producers are consuming 40 percent of the global supply. putting money into the system, so even though copper is down, we are staying above $3. aalot of traders are saying that that could be the low. let's keep an eye and that one. back to our bought gasoline. we have the report. more supplies of gasoline than we have since 1992. help. another terrible storm flooding, you name it. hitting the refinery. that is down right now. that means less gasoline in the midwest. the midwest, of course, one of the areas that have been plagued with tight supplies. this won't help the market.

bringing our bought gas below. the east coast says we have tight supplies. they are getting better on the east coast, but the only cash market in the world that is up right now for gasoline in chicago. can't get a break. back to you. adam: thank you. tracy: cannot get his breath. that was a lot. all right. well, the government's final redone first quarter gdp is out. the economy grew by a whopping one. surprise downward revision from the previous estimate. despite this week reading our next guest says there are clear signs the economy is picking up steam. joining us now, senior u.s. economists a dutch bank. dexter being with us. you think the tapering is going to taper. >> i think the fed will be on track to taper and that will likely happen.

even though that gdp numbers were much worse than what was initially reported in the very first. the economy definitely is sluggish and both teefor last year and this year. but fortunately the market is forward-looking. maybe we were in first instead of second gear. we do know that things are improving. adam: not only revenue, but where would you put your money. expecting what you're predicting. >> i don't know where to put your money exactly today because the markets are still definitely sensitive after chairman bernanke's comments last week when he opened up the possibility of a tapered. and we went through several days of convulsions, if you will and

the market. finally just the last couple of days things have stabilized. so i think as you look at the markets, the yield will move fire without a doubt as the fed is slowly moving toward this exit process. it is a long way away until we actually see the fed hiking interest rates which means that inflation expectations will pick up and yields will continue to rise. tracy: we have seen interest rates to pump a little bit. housing has been doing so well. it's a major part of the economy. are you worried that will derail any housing improvement going forward? >> i think we have to look into different components of the housing sector. something like mortgage applications, they have been falling. however, it has been a refinancing story that is deteriorating. certainly it's less appealing to refinance a mortgage. on the purchase side, demand is holding up. is not just mortgage rates. pent-up demand for housing. stronger income growth.

the economy improves. as we look at purchase applications that leading indicators of home buying, be a new or existing home sales, those tell us the activity will accelerate considerably further into the back half of the year which will bully economic growth in general. tracy: a big growth. lows for people in need to buy a car. the carmakers will get the numbers next week. expecting pickups even further. >> absolutely. pent-up demand for housing. across the board were seen in increase in interest sensitive spending, things like housing and cars, appliances, other big ticket items. this is reflective of improving confidence. they're willing to open their wallets. it's evidence that finally low interest rates are working. households are really to take out loans at low interest rates

and also banks are willing to extend credit. tracy: quickly, what worries you? we have a debt ceiling debates coming up this summer. is there anything on their that could derail all of this? >> i think the debt ceiling gets pushed off into the fall. the focus has to be on the labour market. the one thing that would worry me is if we had a sustained slowdown in that pace of hiring. i don't think that's the case. i think that the pace of hiring will actually improve. but as goes the labour market will go the broader economy. jobs data, payroll, a weekly jobless claims. all of those labor related metrics that will certainly bear extra careful attention. tracy: we got it all. adam: so much more ahead. industry at greater risk for cyber attack that could lead to a massive infrastructure problems.

liz macdonald is all over the story. tracy: five days and counting until student loan rates doubled. he is here. coming up at first this time to check on oil and metals. gold, of course, near a 3-year low. crude is down about $0.40, $94. we will be right back.

>> i think gold has a place. physical gold and everyone should have won, but the idea that people cashed out of all of their stocks and i loaded up or just do not participate in the market, i worry as we get to this point because i have to be honest, of course at some point is that money printing will have an impact. nothing good has. tracy: the half year mark.

and nice, long weekend. what should they do? >> i am looking -- the easiest thing, but these companies and see. in other words, a department store and never open the three new locations, obviously that will be higher, but same-store sales. pricing power. but the margins. and you make some decisions. the worst thing to do is to sell in a panic. we are really in a no-man's land technically. under 15,000, 14,100. we can keep loading in this area for a while. would not panic over that, but i want to make sure that people understand. i think personally of the fed money printing efforts as far as its impact on the stock market will be revealed until 16,000 or higher. and then tell wages go, until people start buying houses and investors, i don't think that they will pull the plug. tracy: it does not sound like his predecessor is going to live >> that is how you get the gig.

you don't get the gig saying you're going to pull the plug. adam: they have been bought by investors. >> existing home sales, 28 percent for first-time buyers. tracy: this is why we talk about this stuff with you. thanks a lot. adam: we also talk about making money with nicole petallides on the floor of the new york stock exchange. we talked about some many of the stocks being at 52-week lows. >> reporter: let's start off with the markets and now we are fairing. off session highs and still holding onto some sellers. the dow dense industrials up 136 points. the dow with up arrows in the s&p 500 up nearly one full percentage point. i know you talked a lot about gold. it turns out that pawnshops' have a direct correlation to gold and volatility. let's take a look at a couple of names. first cash financial down 11% today on its quarterly report. what happened was that they came out. they cut the full year outlook.

the ggidance is below the analysts' expectations. -volatility in gold and the mexican peso are two reasons as to why we're seeing 1-financial to the downside. down along with it. it is interesting. everything is interrelated. adam: we will see you again in 15 minutes. tracy: stopping the interest rate hike on student loans. indiana, -- indiana congressman says the senate must act now, and he is here. adam: here is how the dollar is moving right now. ♪ iday night, buddy.

you are gonna need a wingman. and my cash back keeps the party going.

but my airline miles take it worldwide. [ male announcer ] it shoul't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com.

six. ♪ >> reporter: it is that 20 minutes past the hour. i'm heather nauert with your fox news minute. striking down the federal defense of marriage act ruling it unconstitutional and a 5-4 vote. they found legally married same-sex couples must receive the same tax, health, and pension benefits as heterosexual couples. twelve states in d.c. legally recognize same-sex marriage. a separate ruling could clear the way for same-sex marriage in the sttte of california possibly

as soon as july. the court ruled the supporters of proposition eight, california's gay marriage ban, cannot appeal lower-court rulings that found that ban unconstitutional. in boston new england patriots has released aaron hernandez from his contract for what the team calls his arrest in the investigation of a homicide. taken from his home in handcuffs earlier today. police have been investigating the death of a 27 year-old man. expected to appear in court later this afternoon. those are your headline. i'm heather nauert. [speaking in native tongue] tracy. tracy: heather nauert, you look so pretty in yellow. thank you very much. interest rates are set to double. the house passed a bill last month. the senate has yet to reach a compromise. immigration. our next guest kodak sponsored the house bill and says the bese government to get out of the business of setting low rates. joining us now, republican congressman luke lesser of

indiana. mecham and that is really the problem, isn't it? , the fact that these kids were able to get cheap money from the get go. my take as much as they can. here we are. >> that's right. i mean, the student loan interest rates right now are set by the mud wrestling match in washington. that is not good for anybody. we need to get to market rates, a permanent solution. we have an opportunity to do that. we just decided to come to the table. tracy: let's give everyone the background. the house passed the bill on may 23rd. right now rates are set to go on the unsubsidized loans from the 34 to 68. >> that is absolutely right. five days to get something done. what is most disappointing, one of the best examples going of the challenges that we now face in washington. both the house and the president

agree we should use market rates. but the house and president agree we should have a long-term solution. right now we just can't get it solved over a few percentage points and what the rates might be. tracy: over 1 million people have laws of over $1,000 partially because of what we just discussed. how do we stop this? and me, maybe letting interest rates go. but then ballooned. then people will think twice about taking a money to a potentially don't need for philosophy. degree >> the democrats a point. we have had hearings on this. so-called experts whether they believe all the loans and grants and money that we pump into higher education have led to inflation of tuition rates. they let me straighten the face and said i don't believe that. my responses we will. ahu carrel understand this influx of money has led to major inflation

and an increase in student loan debt. the real challenge, though, free and people in america today is not just a few percentage points in the interest rates. the obama economy and the fact that, as you mentioned, we have millions of students with tens of thousands of dollars in debt and no job in the marketplace. tracy: private universities can cost you up to $400,000 these days. to your point, you, with no job which is a really hard pill for a parent to swallow. i question it every day. how do we fix this? what is the answer? >> there are two things. we are trying to do something to provide greater transparency for families so that they know the truth in the lending statement in the university said you know how much it will cost and what you're likely jobs are. if you're coming out with a philosophy degree your father should not rack up hundreds of thousands of dollars in loans to be the second thing we have to do is have a growing economy. the real problem right now for young people in america is too

many folks have had to come until the appearance that they cannot find a job. we need to get government spending under control. tax reform that eecourages growth and job of virginities in the marketplace. tracy: we have to fix everything. thank you for taking the time to do with this. tracy: it was an economics degree in there. the endless. adam: he speaks kid. tracy: until you anything you want to know. adam: the new report finds when u.s. and is -- in -- industry is that major risk of a cyber attack. people who might want to invest. >> this report is stunning. the attacks on oil and gas companies, more a expensive than previously understood.

for april and september of last@ year basically this report found that the oil and gas sector was hit by more cyber attacks than any other sector in the country. 41 percent for the entire year 2012. 41 percent of all attacks were against the energy sector, oil and gas companies this goes from the department of homeland securities. the run. a three yearrtimeframe. does look it up there were doing. is with the reported. cyber attacks and oil and gas that could basically cause energy supply adages for months. this is something you're right. we fiery explosions, loss of human life, shut down pipelines. so this comes on top of the news that we already knew about. the 30,000 computers were hacked into and millions of dollars in

damage which was just a fund drive that someone stuck again and the virus was released. the report is talking about -- companies don't disclose them out of embarrassment and fear that it would create problems in the industry. people know that they have. tracy: are they ending up their internal security? >> they have been. the president has -- he signed a cyber security infrastructure provision to beef up the infrastructure protection. adam: thank you. >> sure. tracy: all right. coming up, stocks are jumping for a second straight day. are we seeing the worst? for now we will talk about that next. adam: take a look in some of today's winners and losers. ♪ [ male announcer ] the mercedes-benz

summer event is here. n get the unmistakable thrill and the incredible rh of the mercedes-benz you've always wanted. ♪

[ tires reech ] but you better get here fast. [ girl ] hey, daddy's here. here you go, honey. thk u. [ male announcer ] because a good thing like this won't last foreve mmm. [ male announcer ] see your authorized dealefor an incredible offeon the exhilarating c250 sport sedan. but hurry. offers end soon. incredible offeon the exhilarating c250 sport sedan. everybody has different ideas, goals, appetite for risk. you can't say 'one size fits all'. it does't. that's crazy. we're all totally differe.

ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 large profsional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for ospectus, which includes investment objectives, risks, chaes and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ >> it is 90 minutes until the close. the dow of 156 points. trading within 100 points of 16,000 right now. nicole petallides at the new york stock exchange. people have to be in a good mood the mayor. nicole: it is summer. here around these session highs.

we do have china really. also, i wanted to take a look at a group of stocks that are on the move to the upside. mgm and the rest of the group. you can see the stock is to the upside. 4.7% here. $14.37 a share. they are all looking good today. ashley: nicole petallides. thank you very much speed and peter barnes is in washington, d.c. peter, did they get anything? peter: maybe from richard fisher. we believe that after the hearing he testified at this

morning, he talked to dow jones which flashed the headlines that he felt it was "too early to assess the effect of recent volatility. that is it. we are chasing back down with his pr people to get more detail. they are hawks on things that are too big to fail. that is what they were in town testified about today. they both believe that dodd-frank financial reform does not and too big to fail. >> any of these bigger pain could threaten to bring the economy down. the too big to fail megabanks are treated differently than the

other 99.8% and differently from other businesses. under dodd-frank, unfortunately, we believe that this has been unwittingly perpetuated. peter: sheila bair was left to defend it. if we get any clarification on fisher's remarks after the hearing on monetary policy, we will be right back on the air with those. tracy: peter barnes. thank you, sir. ashley: more on the fed, the markets and where exactly you may want to consider putting your money right now. let's bring in financial chief analyst. i want to read something that you read the last time you were here with us. at this stage, recovery growth

is more important than inflationary concerns. it does not signal a healthy recovery on the way. >> it has never been a healthy recovery, but it is healing. we see manufacturing data on regional basis start to pick up. we are seeing a little bit of a hole cut in spending. that is good news. it is not great. it is modest. i do believe that this was a concern for them. absolutely. ashley: the fed has historically never wanted to deflate able. essentially, what you just said is that is what they did. they took a little steam out of this equity bubble. >> a little bit.

the word risk started to come out of the fed statements. you have had alan greenspan come out and criticize the fed. you do not see that. there is a etiquette. you do not do that. this is starting to come out. i think they were aware of the distortions. ashley: we all understand. we have watched an incredible selloff in gold. one of our analyst has sent out hr. fifty-two week lows. a lot of people are getting earned because they moved their money into gold and now we are almost at $1200 an ounce. what should i be doing right

now? >> a very small portion of the portfolio. when gold was the leading asset class, client went in and put 100% into gold. then they went into silver. you saw what happened. people are wondering what relationship is to get gold moving back up again. above all else, it is the dollar. when the u.s. dollar gets stronger -- that has been happening. you will see that the dollar started to rise against other currencies when gold started to selloff. watch as data begins to weaken. if they start turning right back down, what you will see is the dollar will weaken on the expectation that the fed tapers the taper talk in the dollar

starts to weaken. every time he said downside risk dissipative. every time he said we are excited about this. we are optimistic. gold went down, the dollar went up. the primary relationship is the u.s. dollar. ashley: thank you so much. >> thank you. tracy: we have some breaking news for you. oil closing up $0.18. today's close higher marks the third straight day of gains for crude. coming up, we have a new insurance program gaining popularity. it could have you shopping around for the best deal on a surgery. ashley: take a look at what is happening with the ten and 30 year treasuries. ♪ you make a great team.

it's been that way since e day you met. but your ectile dysfunction - itld be a question of blood flow. cialis tadalafil for daily use hes you be reade the moment's right. you cabe more confident in your ability to be ready. and the same cial is the only daily ed tablet approved to treat ed and symptoms of bph like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if yo take nitrates for chest pain, as this may cause unsafe drop in blood pressure. do not drink alcolin exces. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immedte medical hel for an erection lasting more than 4 hours. if you have any sudden decrease or loss in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty brthing or swallowing, op taking cialis and get medical help right away. ask your doctor about cialis for dai use and a 30-tablet free trial.

♪ melissa: i am melissa francis w or fox business brief. shares of new hartford are jumping. hartford also boosted its quarterly dividend 50%. hartford market value is

$13.3 billion. owners to the empire state building have received another unsolicited buyout offer. it is reviewing old beds which are roughly $2 billion each. the building is also set to become the centerpiece of a real estate investment trusts. we have the latest from the fox business network. giving you the power to prosper. ♪

ashley: well point, the nation's second largest health insurer is offering companies a new way to save money. the program is called reference -based pricing. it means you have to shop around for the best deal for your skin

or surgery. gerri: let's be clear who is saving money here. it is the company. they are trying to do cost containment. they would set a price that the employer was willing to pay for whatever it was he or she were getting. if you went somewhere and incurred a higher fee for the difference, you would pay the fee, my friend. all the responsibilities are on my shoulder. that is what i do not like about it. there was very little heavy lifting from the regular consumer. you went and got whatever it was that you needed. things have changed. this well point story is really one of many. tracy: we bargain shop for

dresses that are then we do surgeries. maybe we should be and send it to. then everybody wins at the end of the day. gerri: everyone needs to put a big deal on the front of their hospital and clinic. ashley: this is one of those issues. you cannot shop when you need heart surgery and of urgency surgery for the best deal. what is wrong with giving that responsibility to find the best cost? gerri: what you are saying is way up here in the air makes a lot of sense. the prices are not available. you do not know. your doctor may not be affiliated with the cheapest doctor and hospital.

i think this is great for employers and well point serves people. they will save some dough. will the outcome be best for me, personally? i do not know. tracy: i think that you make a very good point. gerri: we will be talking about this story, as well as, this looming deadline for student loan debt. are we going to double the rates on student loan debt or not? our twitter followers are like aa, aaa. tracy: i think universities will have no choice but to bring tuition in. i think that will help. gerri: everyone gets a loan for whatever they want.

>> i would like to talk about health insurance, but we do not have time. gerri willis, the will is true for tonight. tracy: good stuff. time for stocks. we have to talk about the dow hitting new highs. jason weissberg joins us. what is the first thing you look at when you come in off that comment out of bed in the morning? >> the short term guys are having their way with the indexes. tracy: what do you do? >> you go unaffected eithee way. again, you know, i will point

back to the fed meeting last week where everyone hit the panic button. quite frankly, i do not understand that reaction. i am sure you guys are talking about the same thing. and action that was telegraphed at least our months before hand. tracy: you are one of the guys that took advantage of it. >> i would like to think so. >> breaking news from massachusetts. aaron hernandez has been charged with murder in the death of a semi pro football player. we will turn our attention back to british petroleum. stepping up its legal challenge to some claims filed after the deepwater horizon oil spill in the gulf of mexico three years ago. accusing some trial lawyers and politicians of pushing claims

for losses that did not exist. that advertisement says, and this is a quote, whatever you think about bp, we all think it is wrong for anyone to talk money that they do not deserve. bp says it has paid more than $11 billion to help restore the local economy so far. tracy: anybody playing the violin for vp? >> i do not think there is. i do not think anyone is headed for them. tracy: coming up. the faa is giving jetblue the green light to use ipods in ways they have never been used before. i am thinking angry birds. >> i am thinking angry birds. take a look at some of the winners and losers. ♪

>> in the tv industry, they call it over the top. the threat that viewers will sites of cable and get their shows directly from the internet. now one of the biggest cable channels of all wants to jump on that trend. dennis: it is the discovery channel discovering the internet. discovery communications is at work with a new streaming

service. this new effort would be a big embrace of the net by one of the biggest cable channels in the world. the flagship channel reaches 100 million homes in the u.s. upwards of 400 million homes around the world. this new streaming service could take two years or more to debut. the internet is about two weeks big changes on the tv bid. do you really need to watch a cable channel like this one? yes. selling shows online would pit the discovery channel against its partners such as netflix. profits are elusive.

both are in 29 million homes. hbo on cable earns almost ten times of what netflix earns. cable systems offer only limited on-demand space. hbo go offers 1700 hours of hbo content over the net. then again, hbo gives away its streaming service free of charge as an incentive for cable viewers to stick around. >> don't you think that this will kind of become an all or nothing? you would pay some kind of see in the future where you had a little bit of this and a little bit of that. lori: olla cart. dennis: ultimately, will wipe out dozens, if not hundreds, of tiny channels. channels like espn conair prices

would go up once you have fewer people to advertise. tracy: the little ones will disappear. dennis: i do not think it will happen. tracy: i think you are right, dennis kneale. >> dennis kneale, thank you very much. tracy: jetblue is giving its pilots ipads to use in the cockpit. they are custom equipped tablets. they will give pilot new functions. the airline says they will save on fuel because they will not have to carry around those big bulky manuals anymore. >> they do not weigh that much. tracy: the faa approved this after a successful trial phase. jetblue hopes to implement the apple devices in the next three

months. >> presumably, they will be able to keep the ipad operating even when the cabin door is shut. tracy: that is very true. they will have wireless access and we don't. what is up with that? >> you have go-go, the wi-fi in-flight. tracy: you are taking us in the very wrong direction geared. >> liz claman takes us through the last hour of trading. "countdown to the closing bell" is next. a million-dollar makeover at the world's most famous arena. the ceo and president of madison square garden. hank ratner is coming up next. you can only see it right here on the fox business network. "countdown to the closing bell" is next.

♪

♪ liz: this company is spending a billion dollars to transform a single property. already a championship move. a fox business exclusive. this ceo and president of madison square garden. the knicks and new york cable channels under its wings. we take you inside the transformation of the world's most famous arena and exclusive behind the scenes to work remember this? >> developers, developers, developers. liz: kicking off its developers conference with a sneak peak of its revamped windows a program signing a deal with a major european carrier. does it finally have the group back? and it no longer the quiet american. ceo chips aren't speaking out about being held captive inside his own factory in china and what is limited options