>> we do want to get you up to speed on the market. nicole petallides. nicole: auto stocks are doing well today. here is a look at the dow jones industrials. the nasdaq also a winner. one third of 1%. it is on track for a sixth consecutive game. we have not seen that did november 2012. financials are really leading the way. >> you talked about the automakers. was wall street surprised that we were on pace? nicole: well, the stock will

tell you that. stellar sales numbers in the trucks, in particular, 13% growth overall. it certainly shows you that is a very strong segment of the automaker. >> nicole petallides. thank you. it is the business of autos all our right here on the fox business network. let's just say that business is good. jeff flock starts us off. jeff: you picked a great day for this. june's sales numbers. a tremendously good month. ford, as nicole points out, with a great month. toyota up more than expected. the other u.s. automakers did good as well.

gm was a surprising 6%. we are test driving today a ford fiesta. the story, though, is the bigger ones. it is a big story and it continues on autos leading the way. >> we will put you in the drivers seat. lori: sounds good to me. jeff is in the drivers seat. you will be in the drivers seat later this hour. cannot wait for that. is another sign the auto industry is back on track? we have our all-star panel. >> they will get better. the economy will pick up. right now we expect to get away

from the a cluster. volume will pick up even more so today. that is why this month is so important. >> let me bring in michelle krebs. we are talking about flirting with a 16 million unit year. could things slow down? >> we are flirting with 15 million seasonable adjusted rate in june. we have not seen that level since november 2007. pickup trucks have been really strong the first half. they typically are not that strong in the first half. second half is there time to

play. lori: if you look at the overall growth rate, alec gutierrez, sub 2%, if even that, car sales are gaining traction. that is impressive. >> i agree. ultimately, sales are up 6%. things look to be even better in the second half of the year. that is certainly great news. the strength in that is certainly great news for the industry and the economy overall. >> jean jennings, you are our expert. did it detroit get in trouble when it rely too heavily on pickup trucks for its profitability?orays

of the future. they are over that. these are brand-new vehicles. lots of equipment. it is not just pickup trucks that are bringing the money in. just like a perfect storm of fabulousness. there is money for everyone out there to get cars. between stock prices being off, construction being up, gas prices being stable and a little bit down, in addition to that there has never been older vehicles on the road. people need cars. they are buying cars. they are buying trucks. the u.s. market share is going up. lori: who is the best of the best right now?

overall, give me the global landscape here. >> globally, gm has done very well globally. gm, obviously, was the big surprise this month beard ford has been doing it all along. you have vw. the board manufacturers. this is sustainable. the auto business is alive and well. it is really good news for us. >> we have much more. incentives dropping, interest rates rising. is now the best time to buy your next car? we will ask our all-star panel. lori: a look how to invest in classic cars ahead of next month they miss petal auction.

>> plus how you can get your hands on this lamborghini for the fraction of the price. lori: gorgeous. ♪ [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪

>> welcome back to the business of autos. our hour-long look at the industry. can the moment to keep up this space? the average sales price rose nearly 1% in june last year. >> we expect to see new vehicle transaction prices to continue to rise. we also see the cost of entry increase. this is a trend that will likely

continue. luckily for consumers, interest rates are as low as they ever have been. great lease rates out there. you can get 199 a month on a number of electric vehicles out there. prices will continue to rise in the low cost the money will continue to keep that affordable. in 2014, it is anyone's guess. lori: the availability of credit. interest rates are creeping up ever so slightly. what is your outlook? >> i am looking at the cars. i am a car person. lori: is it the product or the financing available? >> the fact that the cars are so old. people have not been in the market for a long time. when they get in the market, they are finding cars that are

unbelievably loaded and unbelievably fabulous. people are coming down from bigger cars getting smaller cars that are more luxurious, more loaded with equipment. people are finding a technology that was only found on luxurious cars before. if you do not really need a new car, you have to while one. the cars that are coming on stream out and that drugs are extremely desirable. they are beautiful and they are loaded. >> concerns that the manufacturers were concerned that they there were too many incentives. a 60 day supply now is much less than it was in the financial collapse.

>> we are seeing extreme discipline in terms of keeping incentives low and making sure that their production, they are not overproducing beyond what the demand is. they have been amazingly disciplined. you bring in new or used cars, you will get a nice price for that on a trade-in. that will help you with buying a car. lori: george, it seems recently there have been a lot of government recalls or requests for recalls. do you see that as a risk? >> ever since the toyota recall, all the manufacturers are very intuitive. every time something happens, the cars have to be recalled. >> they offered a government a

fix. they offered to recall most of the vehicles. they cut a deal. this was cost effective for them >> will be get into this discussion of recalls and issues that may keep buyers out of the incentives now, isn't there aany danger that buyers will wait for the sale that they used to be expecting. >> yes. as we know, consumers spend anywhere from six-eight months in the shopping process. the biggest investment they will make besides purchasing a new home. >> real quick, if i do not buy this month, am i missing the best month to buy? >> definitely not. i think if you want to get the best possible deal and you do

not necessarily want to have ultimate selection available, you will find the best deals in the month of november and december. >> the bottom line on that is the deals will still be out there. you do not feel pressured to buy. thanks a lot. we have a lot more coming up. lori: putting your wheels to work for you. renting cars out. >> investing in classic cars. on the auction block. lori: what was your first car? we want to know. tweet us. check out the specs of the most famous first car of them all. ♪

>> stocks are volatile. gold is dropping. antique car auctions continues to set records. vintage cars are a good investment for a savvy collector.

>> you can participate in it at nearly any monetary level. there are cars that you can buy and enjoy and drive. on the other end of the scale, there are cars that are well over 10 million that are appreciating on their own scale. there really is something for everyone. >> the value of a vintage car is determined by its authenticity, rarity and performance. they set a world auction record. $16.3 million. another significant sale, this rare 1936 von krieger roadster. the car was found in pristine condition and eight greenwich garage and sold for $7 million

at auction. the people competing for them can afford to own them, see the value in them and generally, they are adding them to existing large collections. >> if you have ferrari fever and a couple million to spare, gooding and company is featuring two models this august. they make it a great racing car. >> it is almost universally understood to be one of the most beautiful automotive designs of all time. beautiful slope back here. it is just stunning. >> the 500 superfast, one of 36 models ever built.

>> the original interior. we expect the bidding to go past 2 million because you just cannot go get another one like it. >> at $2 million, would you want to? lori, back to you. lori: that was great. turning your car into a moneymaker. our next guest has built a business of that. andre haddad. hello. >> hello. lori: your business really catching on. renters can save a couple hundred dollars by avoiding a traditional car. >> correct. we have thousands of folks that have signed up across the nation. they have listed their vehicles. they are making an average of $250. and lots of them are making up to $1000 a month.

lori: i have to ask you, obviously, relay rides in many states, pointing out liabilities. relay rides do not really look at insurance. how are you working with new york state to appease them? >> we are working with new york state. we believe we have an incredibly safe marketplace. we screen all of our drivers based on their driving record. we have built a marketplace that is actually much safer. we screen up to 20% of all of our drivers because they may have a major or minor violation and their driving history. we also offer, on top of that, you know, faith driver community insurance that protects both the owners and renters. we have a insurance that owners

of $21 million liabilities which is up to the state minimum liability coverage that is required. lori: has new york work -- new york state responded to you? look forward to an update on that front. new york state must be a huge market for you. i know you are trying to get involved in the airport industry. you are really breaking into that market. how is that going? >> it is going really well. annr last month. the airport rental industry is huge. the rental market is 30 billion. airport rentals is half of that. what we decided to do is enable our community to connect at the

airports. previously, we did not make that easy. until just recently, one of our owners e-mailed me and said, well, i would like to be able to rent my car at the airport. i got a parking spot. i would love to be able to connect with the renters that are traveling at the airport. he really was our inspiration. we launched a future beach or just a month ago. we are available just shortly after our launch in 150 airports. we have 1000 cars available at these airports. the rental reservations are growing rapidly. the average rental is now $300 for each one of those rentals. lori: andre haddad, thank you so much for sharing your business with us. sorry for cutting you off here.

thanks again for your time. >> you keep 75%. not a bad deal. if you are wanting to rent something sexier, how you can get behind the wheel of one of these hot rods. lori: buckle up. we are back with the inside scoop. ♪ with the spark miles card from capital one, bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles

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lori: time for stocks now. as we do every 15 minutes let's

head to the floor of the new york stock exchange to chick in with nicole petallides. the dow is fading. what is happening today? >> we've seen back and forth action. look at up volume and down volume, virtually even, 145 to 147. there is push and pull happening. nearly volume number of 300 million shares is light day on wall street. it is worth noting we have up airarrows but we've come off the highs. one thing traders are watching very carefully the u.s. dollar, dxy. as we see strength in the dollar, tough news out of europe. that put pressure on the markets. started with a softer opening. as dollar gains we pull back. there is that relationship happening as well. still holding on to very slight gains. back to you. adam: nicole, thank you very much. the cars of the future are here today. but they are not flying off the ground but offering new ways to keep your family safe while behind the wheel. fox's mike tobin got behind the

wheel at ford's test track. >> this starts with ford's simulator. with average people testing reaction to typical but dangerous problems. >> this is a focus group. we're not only getting their opinion but also their performance. >> tests distract the driver. >> 2935. >> ford looks to see what kind of alert, sound, visual, even a vibrating wheel get their eyes back on the road and prevent a crash. years of that testing have arrived at the forward collision warning, a sound and head's up flash when a collision is imminent. it is still the driver's job to brake. >> we're trying to assist the driver. trying to make sure they're paying attention to the road ahead. the driver, we always say driver in control, driver in the loop are most important things. >> lane keeping system is camera warn pointed at the road to warn a driver drifting lanes and gently nudge the car back between the lines. >> it is drifting and driving back. >> if you're driftings over and

going across the lane line, we'll warn you that is about to happen. >> we're not talking about cars that drive themselves. the autonomous vehicle is still a way's off. we're talking about cars that alert the drivers to pay attention to the task at hand, particularly when there's trouble. at the ford test track, mike tobin, fox news. adam: we thought we were doing well when the car said lights are on. that dates me. lori: is the connected car the next big innovation for the auto industry? let's bring back our expert panel. you were so excited about all these new whistles and bells coming to market that the cars are incorporating. what impresses you the most about the extras? >> you can not believe what's out there. you can't believe it. between sonar radar cameras, gps systems, the autonomous car is able to be on the road right now, right now. i just drove a rolls-royce last week. i know, i'm so lucky. and it actually has

satellite-aided transmission which means the satellite can read the terrain and it will actually put the car in the right gear. it won't gear up or down if it senses the terrain changing in a certain way. there are, there is also technology where if you're going into a turn, really fast and your cruise control is on and the turn gets tighter, it knows it and it actually turns more and straiggtens the car out without you ever doing anything. adam: michelle is there anything that has caught your eye on the market right now? ford has, i think ford sync. i was impressed with earlier version. i had trouble with full screen. they will go back to dials but microsoft interface, right? >> infotainment are the new thing. my favorite, cars that park themselves. lori: me and you. >> i hate parallel parking. so there are cars that will actually do that. volvo actually showed a car

recently, that you get out of and it goes off and parks itself. we are very, very close to the driverless car. adam: we call that the husband. lori: hey now. >> that is ridiculous. that was ridiculous. we're not going to put up with that. lori: i agree. you tell him so. we were talking recently. i can't recall who is doing this, self-driving cars. adam: autonomous car? lori: yes. adam: self-driving car. google is looking at it too, right? lori: but are we coming to an era where the car is doing everything? adam: alec, why don't you take a shot at at this. >> technology is quickly approaching level to see cars that drive themselves google has been able to do it. they have logged 300,000 miles without incident. granted way laws are sitting today there has to be someone in the drivers seat. you can't kick up your feet in the back seat and relax. once we've cleared right

legislative hurdles and technology gets there and comfort level with average consumer. lori: you love to drive though. you love to drive. adam: people like me love to drive. george, i'm curious if you invest in a car company, whether gm. honda, ford, based upon technological innovation, anyone come to mind who you like? >> not really. the whole industry is up on technology. i have to be honest, i agree with everybody else. the autonomous car is technology is ahead of the legislation, ahead of the driver, ahead of the consumer and ahead of the insurance companies. lori: people are not ready to pay for. >> government is not ready. government is not ready to let that happen either. lori: bringing up the government, jean, what are your thoughts, if you want to weigh in on the fact as taxpayers we own a portion of gm? is that an issue at all. >> i'm not weighing in on that. not really. lori: too much of a political

issue we're tear you canning about cars. we're having fun. we don't want to bring the day down. who is designing best cars right now? is there any one carmaker ahead purely fashion design? >> audi has been studying the bar for a long, long time. everybody looks at audi as that but, those audi designers have been going forth and multiplying. the guy who runs kia design came from audi, suddenly out of the blue, the kias are hot as can be. mazda is also, minivans that have some swoop and shape. adam: what about the front end of the ford fusion? don't you find that odd? kind of reminds me of an aston-martin. >> well, they did own as ton, didn't they? and jag. the f-type caused jag to have its best sales month in its history. adam: all right. >> thanks, guys. great conversation.

please stick around. we'll save viewers money on their next purchase. adam: also the best-selling used car on the road and how to know if you're getting the best bang for your buck. deal or no deal auto style next. lori: ditching the family sedan. we want to know what is your dream car. tweet us, aj shape and@lori rothman. we'll talk about your responses later in the show. ♪

>> i'm jo ling kent with your fox business brief. hess is putting its gas station chain up for sale according to "the wall street journal" the oil company hired goldman saks. more than 90% of the gas stations are company operated include convenience stores. credit suisse estimates the chain's value at $3.4 billion. capital one announces a one billion dollar stock repurchase subject to the closing of the sale of its best buy private label credit card portfolio. the federal reserve approved the buyback program contingent on the best buy sale. small businesses increased their borrowing for the second straight month in may, a sign of economic growth ahead. that is according to the latest small business lending index from pay net which measures the overall volume of financing for

small companies in the u.s. that is the latest from the fox business network, giving you the power to prosper.

adam: the used vehicle market share last year was 72% versus 28% for knew vehicles. with that in mind we want to play a round of deal or no deal with our panel. first up a top-selling 2012 honda accord. current price on ebay, 14, $950. buyers here are looking for long term reliability, right? is that a deal or not a deal. >> it's a great deal. new accord is redesigned for 2013. that will put pressure on outgoing generation. talking 6, 7,000 savings off a new model d you will get very comparable fuel economy.

car will last forever. can put 150, 200,000 miles on the odometer. great buy. can't miss on accord. lori: can't get better than a reference on that. michelle, luxury, bmw 3 series, on this white 2012, low mileage, over 28,000. deal or no deal? >> take that deal and take it fast. it is priced really well. it is a thousand dollars below what we list our, what your neighbors are paying kind of price. it looks to be in great condition. shockingly low mileage. that car appears to have been babied. i say take that deal and take it fast, alec, last one, for you, ford f150 going for a hair under $36,000. how much value will you get tinted windows and custom wheels. deal or no deal on the f150. >> to be honest that soundsiced. i think you could get a better

deal if you scrounging. custom wheels, tinted windows will be unique per buyer. perhaps the previous owner had a thing for the wheels but average guy on the street may not be looking for it. i would pass and look for another deal. adam: gotcha. lori: george, i know you live in brooklyn. you don't own a car as auto analyst. if you were to be searching for a car what properties would you look for? >> now that is really hard. depend on what you really want to do with it, okay? lori: you know you want a splashy car. adam: would you go used or new? >> i go new. adam: why would you go new? >> i like the new cars that are coming out. for me it is basic transportation. i would go more into the luxury end. adam: jean, i will bring up an issue. i love hunting for a used cars. i think best deals are on used cars. you're in detroit. you see all the beautiful new vehicles up there but you can get them cheaper a few years after they're introduced. what would you prefer, new or used? >> it is funny. i have always had new cars but i

bought a lot of used cars in the past. i always recommend that you look at used cars. especially if they haven't been changed in a year or so. because the minute you drive them out of a dealership they have lost quite a bit of value. lori: yeah. >> why pay for that? why pay for that at all. lori: interesting. alex, are gas prices a factor for buyers? you were quoted pointing out younger buyers, new graduates are buying smaller cars to save on gas costs. is that a factor? how much so making a decision whether you're going instead of new or used, bigger or smaller? >> yeah, i think gas prices are playing a pretty critical role in the purchase process at the moment. although they're about equal what we've seen last couple years from a historical perspective, gas prices are still very, very high. here in california and on the coast we're paying $4 or more. that is influencing younger buyers to buy small cars. the latest subcompacts, fiesta, chevy sonic.

these are great products. not from what you expect from a subcompact in previous years. looking new in subcompact or slightly used compact like civic or corolla. lori: good stuff. thanks guys. adam: a lot more with panel and a lot more for you too. lori: once you got your license in your hand didn't matter what you were driving, right? check out adam's first set of wheels. adam: it mattered. that is my first set of wheels. if you see the front of that. some see that as a mitsubishi. that is hyundai excel. the 1990's are calling for those glasses. lori: the clark kent frame is back in fashion. adam: '87 hyundai. radio, i took out a four year loan. >> i told you what happened to my first car. adam: lasted an hour. lori: i passed my drivers test in california. 16 years old. my brown mazda, 323, ran a red light and crashed. no one was hurt, thank goodness. adam: here i wish my first car.

lamborghini or ferrari or ma claire ren. i'm headed outside for a look at some of the most expensive cars on the road that you can drive a lot cheaper than buying. we'll tell you how to get behind the wheel. ♪ clients are always learning more to make their money do more. (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 like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies."

lori: sexy cars. we're about to get a closer look at some of those gorgeous luxury cars parked right outside our

building. before that, want to kick it around with our panel about their first cars. guys, close to the junk lot or valley booth? what was your first car. tell me all about it? >> it was a 1961 chevy belleair. i bought it when it was 10 years old for $600. i took out a loan by the way. interesting, i remember the car. i do not remember my interest rate. oh, i wish i still had the can today, i live three blocks from woodward avenue. we have the big woodward dream cruise here. that would be the perfect car for it. lori: good memories, you have those, nonetheless. you bought the car yourself. good for you. alec, weigh in? >> yeah you're making me teary-eyed as i think about my first car. 1990 ford mustang, gt. burgundy, with red interior. super low mileage. i think i paid $5,000 for it back in the late, earlythousand. i want to say maybe 50,000 miles or some t was automatic. i want ad stick. sometimes looking for a used car you have to make sacrifices.

can't always find what you're looking for. fantastic car. 5.0 engine. it was a lot of fun. lori: had no problem getting a date i'm sure with that car. jean, can't at that wait to hear your first story of a car. what did you buy? >> my first car i didn't buy was given to me. 1957 chevy belleair that ran on three out of six cylinders. you could see the ground going by at your feet through the floorboard. the holes in the floorboard like a flintstone mobile. i gave it a tune-up. i got two of the cylinders that weren't working, working. the police followed me and pulled me over and said they had been following the smoke for a mile before they could see the car. adam: you're kidding? >> i was pointed toward home so they let me go. lori: that is wonderful visual. that is great story. thanks, jean. george, i understand it was a cab? >> basically taxicabs. but the family car, first one was a '91, '92 escort wagon which we got rid of when the city towed it away and

violations were worth more than the car at that point in time. lori: i hear you on that. thanks for weighing in. a big, big thank you to to everyone on the expert panel. edmunds.com's michelle krebbs. kelly blue back alex gutierrez. jean jennings and ihs principal economist, george magliano. time for fun. send it out to adam. adam: if you don't have $250 million to buy the car how about renting it? -- $250,000. ferrari. how much would this rent for in the day or mid different week? >> during the week it goes for $2250. adam: on a weekend? >> 49.50 but who is renting that. adam: a bargain. who is renting that? >> we have a range of customers from 21 to 70. adam: if you had a 19-year-old can they come in to rent the

car. >> have to make it 21. adam: a little bit of experience. lamborghini, 22.50 for the day in the middle of week. >> 17.50. a bargain at 3950 for the weekend. adam: describe, someone rent for the weekend to impress girlfriend or boyfriend? >> mainly guys renting cars. about 30% of it, rentals are women renting for men. so very thoughtful gift. adam: you have these guys not only in new york but have them in miami and los angeles. >> right. adam: what is back here? how fast is this? >> the new mclaren. it goes 207 miles an hour. which is not really usable. adam: great on six of this avenue in new york but great in l.a. >> great on sixth avenue. adam: this is how much a day? >> this is 2250 a day. adam: on the weekend? >> 4950. adam: where did you get the idea for this? i will let you get in the lomb bore genie and where was the idea thaw started from this? >> my business partner graduated mit. went to rent a car to celebrate.

looked up ferrari rental in new york and nothing really came up. there has to be demand. he did a little searching. found out about 75 people a day searched for ferrari rental in new york and start ad business there. adam: give me a quick rev up. what else do you have in the barn besides these cars? >> so i mean we have cars anywhere from mercedes, porsche, bmw, maserati, aston-martin, bentley, rolls-royce. we have 40 cars in the fleet. adam: robert, wish you all the best. these are beautiful cars. as i get ready to throw it back to lori. lori, bottom line, if you have a couple thousand dollars you can have one of these cars for the day. better than not having one at all. i will throw it back to you. robert from got that many rental cars, miami, washington, new york or los angeles. you would look good in the orange lamborghini. lori: nice crowd gathering around you, adam, thanks.

lori: we asked you on twitter what is your dream car. you would be surprised. not just about expensive luxury cars although we got a few of those. this response who replied, dream car is 2013 ferrari. many of our performers, dream cars are actually classics, for example, at big block buick says if you can only pick one, take a 197 chef develop 396, 4-speed. if you can it classic, he says, dream car is datsun 280zx, black and gold, 10th anniversary edition. not all classic models. some replied with simple requests, who just wants a jeep grand cherokee laredo. for the most sensible one is the one that was at unemployed. dream car is one he already owns, paid for, 2005 diesel chevy pickup truck. fun. thank you so much for writing in. there is so much more to come on

fox business. stocks turning negative. plus an early predictor of the housing crash says don't be fooled by housing a's so-called recovery. joshua rosier in joins ashley webster and i next. stay with us. [ male announcer ] eligible for medicare?

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purchase eraser? it's the easy way to erase any rent travel expense. i just pick a charge, like my flight with a few taps, it's taken care of. impressive baldwin. does it work for hotels? absolutely thank goodness. mrs. villain and i are planning our... you scare me. and i like it. let's go what's in your wallet? lori: brand new hour of markets now. i'm back. i'm lori rothman. ashley: ashley: i'm ashley webster. a tuesday rally is gone on wall street. stocks turning negative. the dow is now off about 13 points, just off slightly. had been up nearly 75 points at session highs. the nasdaq's five-day winning streak is also in jeopardy. lori: this interesting at least to me. the federal reserve putting big banks on notice. tighter capital rules are coming. is it enough to stop another financial crisis? financial expert, josh rosner,

one. first to predict housing's crash, he is our special guest this hour. ashley: egypt is on the brink of civil war. hundred of thousands of people are protesting for and against its embattled president. it is sending prices higher yet again. we'll have the latest from cairo. markets are turning slightly negative on this, well, light volume week. there is lots to trade on as far as economic data. nicole petallides down at the new york stock exchange. >> i'm chatting. sometimes you're catching me while introducing me. i am still talking to traders. i was talking to ubs head floor trader, art cashin talking about the dollar. you see markets turning into negative territory. the dow jones is down about 222 points here. -- 22 points. nasdaq is snapping its winning streak. we were about to say on the track for its sixth consecutive gain. we haven't seen that. six gains for the nasdaq is still possible for the closing bell. we haven't seen that since

november of 2012. we'll see whether that comes to light later in the day. something traders are watch something the u.s. dollar. the dollar was strong. we had a soft the dollar pulled back. we gained. now the dollar is seeing strength. seeing inverse relationship what is driving the dollar leaves some question. i want to take a look here at capital one financial, a name we're following closely. that is because it is jumping. the financial board authorized a buyback of up to one billion dollars in shares. this comes after the bank recently boosted its dividend. right now it is up 3/4 of 1%. you saw it up early in the morning but still holding on gains. key for capital one financial. ashley: nicole, thank you very much. lori: american automakers revved up, reporting strongest monthly sales since before the recession, how about that? jeff flock is a in ford track in napier, illinois, testing out some of the most popular models. in the driver's seat where you

belong, jeff. >> i like it. this is a ford escape i'm in this hour. this one of the fastest growing vehicles for ford. one of the best-selling ones. i want to take you right to the numbers. this was a great hour on fox business thaw put together on the industry. a perfect day to do it. take a look. ford is our focus today and ford is on top of the sales numbers for june. 13% up for the month. chrysler is up 8% for the month and gm a surprising up 6% for the month. other automakers did pretty well too. subaru had a great month. toyota was up more than anybody thought. it has been great. in the back seat is jeremy bloom who has been selling fords for three years now. you really feel like we're starting to get momentum now? >> absolutely. i think the market turned around. people are coming out and spending more money. with manufacturers like ford putting out a better and better product, people are really starting to buy cars again. >> we said that many times.

there are really no bad cars out there today. look at the best of the best, the ford cars. these are the ones that grew the most in the last month. the fiesta, the small one, that is one that really took off, doubled in sales in the past month. the edge, that we tested last hour, two hours ago, up 32% for the month. the van has done very well. trucks, trucks are big. if we look at the best-sellers for ford, obviously the truck, the f-series truck, nothing is better than that, right, jeremy? >> absolutely. >> but this escape is feign gaining fast as we run over the rocks on the test track here. whoa. okay. >> that's why we're bouncing around. >> this one is doing well too. >> great suspension on it. a little bit of a suv feel. a crossover feel. get a smoother ride on the highway and handle bigger bumps a we saw. >> i drive a ford too. my first car by the way for your information, lori, in case you

wanted to know. lori: i do. >> is a six at this five dodge coronet. lori: do you have a picture? is it a sexy car? did you get a lot of dates with it? >> it was owned by the fellow that was truant officer for my high school. lori: there you go. >> my dad bought it from him. anytime i drove down the road wit, kid would scatter around run and go in the woods. it was kind of crazy. lori: more important question why did your dad know the truant officer so well? ashley: make your own assumption. >> my dad was a bartender. the gentleman spent time visiting with my dad periodically after school. lori: i'm impressed. conducting interview, keep you are ire hands on 10:00 and 2:00. rolling over the pumps. going over the road. >> uh-oh. a little bit of dramamine. lori: jeff flock. ashley: as always, jeff. lori rothman measuring every vehicle by how many dates. i guess that really matters.

>> well. ashley: i'm not criticizing. i'm saying absolutely. >> a trip back to memory lane. now i measure every vehicle of how many car seats i can fit in it. ashley: my first vehicle was number 27 bus. took me to school every day. it's true. after today's better than expected factory auto sales and the a final sign that the economy is doing better. our next guest says many risks for 2013 have played out and he is overweight for equities next year. he is the ubs equity strategist for wealth management research. jeremy, thank you for being with us. if you look at the macro view, do you really feel the economy is getting on solid ground now? >> yeah i do. thanks for having me. i think in the second half we'll see a modest acceleration of growth relative to the first half of the year. some of the fiscal drag will start to wane in the second half of the year. we're seeing payroll growth grow

modestly from the second half of 2012. business confidence and consumer confidence continues to improve you will get the second leg of capital expendituring spending that has been the missing leg from economic growth. ashley: it is all about the fed, we hear that every day. we have a big jobs number out on friday. if that is disappointing does that give a boost to the market because it means the fed may have to delay their tapering of the bond purchasing? >> it's a good question but i don't think that disappointing growth can be sustainable market driver. ultimately the growth will be needed and required to drive earnings and ultimately the market follows the path and trajectory of earnings. the reason we're optimistic on equities isn't because we have a fed and accommodative policy at our back. we do think the economic growth will support reasonably strong earnings growth even in the first quarter where we have fiscal drag, higher tax rates. earnings grew 4.5% year-over-year. that quarter or this quarter is

likely to be the trout in earnings growth and we're looking for better earnings growth on the back of better economic momentum in the second half of the year. ashley: that earnings growth is getting downplayed, isn't it? it is not forecast to be that great. we had that same conversation yesterday as suggesting that these companies sandbagging the market so they can actually surprise when they release those earnings growth. >> earnings expectations are running for about 3%. first quarter, it was similar two to 3% expectation going into the quarter and then earnings beat. it ended up being closer to 5%. i think we're really looking at a situation where second quarter earnings season will look a lot like the first quarter. reasonably low expectations. you end up with mid single-digit earnings growth. in the first half of the year when gdp was growing 2.5%. prospect of earnings to accelerate in the second half will be what earnings are focused on. i think prospects are pretty constructive. ashley: assuming volatility will be with us through the short term as we get through this

period, where do we put the money? where do you tell clients is the best place for investment right now? >> want equity markets, cyclical sectors, that benefit from the pickup in economic growth momentum are likely to outperform the second half of the year. defensive sectors are trading at pretty expensive valuations. we've seen some of the expensive valuations come in a bit as interest rates start to rise taking shine out of high yielding defensive areas like utilities and telecom. both of those areas look expensive to me. i much prefer technology and industrials. pockets of consumer discretionary like media and consumer durables that will benefit from an ongoing sustainable housing market recovery. those look like the most attractive opportunities both from cyclical perspective and valuation perspective. ashley: great information as always. thank you so much, jeremy. ubs wealth management. we appreciate you joining us. >> thanks for having me. ashley: well, much more to come this hour. it is an american institution that could be taken over by

china. it is getting a lot of play. smithfield foods facing backlash over its proposed buyout. we're live from smithfield, virginia, next. lori: tighter capital rules for big banks, are they the answer to too big to fail? josh rosner weighs in ahead. as we do every day at this time let's take a look how oil is trading.

lori: doing any barbecuing in holiday weekend? ashley: planning on doing it last week. lori: you're english. do you plan to celebrate the 4th of july? do they ask you often? ashley: they do. i say we do same thing on the 4th as we do on the 3rd. lori: chinese company propose take over of smithfield foods, causing controversy in its hometown and all over america. rich edson in smithfield, virginia. >> can't imagine 4th of july is big in england. that is sore spot, ashley.

ashley: we gave up the colonies. what can you say? >> gave up. absolutely. look, i am, i am on main street usa. it is actually, this is main street in smithfield, virginia, and this is where smithfield foods is, largest pork company in the country. there is a major deal upcoming right now. take a look at details of the deal. a chinese company is buying them over. they're talking about it an awful lot here. $34 a share as part after $47.4 billion deal. the company is looking at 37 billion-dollar deal. it is a 31% stock premium and expected to be closed this year. one says there will be challenges to this union. >> in terms of business variety, in terms of effectiveness of rule of law, china still, it is many years, decade behind the us. we have one of the best rule of law, free market and regulation

and nothing, the u.s. is not perfect but one of the best. china started only a couple decade law from communism. but now, you look at any international industries, rule of law is very low. corruption is very highh that is their current environment. >> now overall he does say this will be a positive deal for the united states and for smithfield because of the massive pork market in china, the largest in the world. that local producers here will sell awful lot more pork to such a large market but there are concerns especially in this community. we talk about the unknowns, especially when you've got an american company now at least if this goes through the committee process, the treasury process, to be owned by a chinese company. take a look what the senate ag committee is being look at. they're holding a hearing next week on the entire process. they want to know what measures should be considered so a company will maintain operations to comply with stringent

american food safety standard and biosecurityndards. what measures should be considered to taxpayer supported research and development and any resulting intellectual property are safeguarded. should trends in foreign acquisitions be monitored to insure ongoing integrity of key components of the american food supply. bigger questions in the united states. this will be the biggest deal, a chinese company taking over an american company that we've seen before. if it does go through, what does it mean for the future? awful lot of folks out there seem to believe this is the just a start of more chinese investment in the united states. here in mithfield virginia, a little bit of excitement and nervousness. they don't know how this will all play out. as for smithfield the company, they refused to participate in our story. back to you. lori: rich, interesting. thank you. we're not done with meat this hour. coming up we'll meet the ceo of a nationwide butcher shop that plans to more than quadruple the locations in the next year.

meat house ceo join us, a veritable t-bone of information. lori: stocks are fading fast. ashley: yes, they are. they are diving in the last few minutes, maybe surmise with the banks bassal three rules. we'll ask nicole, what they can find out? >> they're still watching the dollar very closely. the bxy moves above plus 40 much like we saw earlier in the day it pressures stocks around here. at least some of the traders think so. the dow at 14, 900. pulling back half of 1% -- 14,900. that is another indicator people are watching as a sell signal. look at some casual dining stocks. we got chipolte mexican grill got an upgrade at deutsche bank. noodles keeps on running. 2 broke through 51. that was an eight taken dollar

ipo a few days ago. -- $18 ipo. ashley: market was up 75, now down 75. big swing. lori: basaliii rules. we'll talk to josh rosner. about the housing finance before the collapse. knows about the banking industry. what he thinks about so-called housing recovery indus now and basaliii. we'll get to that with josh next. , like how the u.s. dollar is moving. as nicole pointed out a stronger dollar sort past reason we're seeing the market is down. we're seeing the market, as far as currencies go, all of these currencies moving lower begins the u.s. dollar. we'll be right back. [ male announcer] surprise -- you're having triplets.

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>> at 21 minutes past the hour i'm arthel neville with your fox news minute. nsa leaker edward snowedden is still looking for a country willing to offer him asylum. new venezuelan president nicholas maduro wouldn't say if his country would but meeting with russian president putin,

maduro said, snowden deserved the world' protection. president obama and former president george w. bush honored those killed in the u.s. embassy bombing there 15 years ago. al qaeda terrorist attack killed 10 and injured more than 85 people. president bush was attending a summit on african women. president obama is returning from his week-long africa visit. in russia an umanned rocket carrying 3 1/2 mitigation satellites crashed just 17 seconds after liftoff. russian officials say the accident was caused by an emergency shutoff of the rocket's engines. no one was injured but the three satellites worth $200 million were destroyed. those are the headlines. i'm arthel neville. get you back to ashley. ashley, arthel, thank you very much. we appreciate that. december car sales numbers and factory orders. all that is going out the window. we're at session lows. the dow is off 73, 74 points

right now. it is red across the board on the s&p, slightly lower and nasdaq as well. we will keep an eye on this as we have a shortened week for trading though we have a lost important economic news coming out. we'll keep an eye on this throughout the rest of the day. lori: let's get some collar -- color on the markets after the fed adopting new capital rules for banks under a new global agreement known as basal iii. they are working on tougher standards for the biggest eight banks that are still considered systematically important. joining us what this means for our financial system, josh rosner, from graham fisher. why did the market sank? is this because of any market rules? >> i don't. this is expected. everyone knew it was coming for the past three years. what we really have we've got the fed finalizing their -- lori: what are the rules? what does it mean for the banks? >> it actually doesn't mean very much for our banks right now because what it is, it's a

global court on what the capital requirements have to be for the banks. lori: so why do it? >> well, so that everyone has a theoretically level playing field. now each country, each country has the ability to implement them as they choose. we in this country will end up implementing tougher rules than basal. lori: you're referring to dodd-frank? >> i'm referring to dodd-frank in part but really i'm referring to the leverage ratio. which if you remember in basal ii the united states had a leverage ratio. it was a basal ii, was a belt but we wanted suspenders also. by the way our leverage ratio, our banks having tougher capital requirements than everyone else, ended up as a big part of the reason our banks fared better than european banks in the crisis. lori: as you know the complaint from the banking industry as well, this is going to tie our hand. we have tougher capital requirements. so we're not going to be able to lend as openly and as freely. are you buying that argument? >> first of all it is not the

banks. a handful of banks are making argument. the smaller banks are disadvantaged to bigger banks have lower cost of fund because they're assumed to be implied government guaranty. lori: even bigger banks say we have to charge you fees for, higher fees for using atm or higher swipe fees if you're using -- >> that has nothing to do with capital requirements here. lori: okay. >> at all. in fact i would argue -- lori: some. banks would say that is exactly why they're charging higher fees. it is an easy excuse. >> it is an easy excuse. i would point out in europe, for the most part the european banks are accepted by the european governments as sovereign risk. we saw this proven in greece, right? and that's part of the reason that they have higher costs of sovereign debt is because there es an implication for the sovereign debt that they have to backstop these giant banks. so in fact, while it may end up being that our biggest banks are less competitive with the biggest european banks, i would argue that that's a benefit to the u.s. treasury.

lori: okay. what's the story with too big to fail? are we improving? are there still systemically risks? >> they're still systematically risky institutions. lori: banking industry compared to 2007, is it healthier? >> absolutely, it is absolutely healthier but we haven't resolved too big to fail. they're absolutely better capitalized but we haven't resolved too big to fail. now there is a growing pressure, growing momentum in washington to do so finally. dodd-frank really didn't complete the fix of too big to fail. it left an unlevel playing field between our largest banks and the 7,000 other community and state chartered banks. and we're starting to take that on, on the hill we saw brown vitter which is legislation left and right coming together to try to address it. while that bill isn't going to go anywhere we're seeing real strong press to force the fed to be tougher on addressing too big to fail. and i think we'll see that leverage ratio. we'll see that through the

buffer capital that has to be required as part of title two resolution. lori: do you fault the industry in this? i know they were outspoken for the small and mid-sized banks. do you think that thwarted things at all? >> the community bankers have got a lot more sympathy on the hill than they have had historically. big banks done themselves no great favors the way they lobbied and thrown their weight around. jpmorgan's whale trade forced most people on the hill to sort of step back a little bit from their public support of the too big to fail institutions. >> josh, great to see you. >> good to see you. lori: my old friend, josh. >> thanks for having me and your expertise. >> thanks for having me. ashley: we're keeping an eye on the middle east. tension in egypt pushing oil prices closer to $100 a barrel. oil expert kent more says they could go a lot higher than that. he will be here to talk about it. lori: show you some winners and leaders in today's trading session with a loss of 83

points. there are still gainers. genuine part, kroger, lowe's, cable systems showing nice gains in the session. we're back after short break. fray night, buddy. you are gonna need a wingman. and my cash back kes the party going. but my airline miles take it worldwide.

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tracy: 90 minutes until "the closing bell." most shares are lower. we do have some winners. jpmorgan, home depot and proctor and gamble all showing some games. let's check back in with nicole petallides. nicole: a couple things that we were talking about.

we talked about the dollar. i mentioned that throughout this show. plus 40 at the moment. that pressures of the market. bank of america president really was a big supporter. economic growth will economically quickened in the year 2014. you know what that means, tapering. quickly, let's get to the automakers. ford up 2.5%. they came out with their sales numbers. we are taking a look at general motors also. those two are not too far off the 52 week highs. ford certainly gaining a lot of

attention. back to you. lori: thank you. ashley: the clock is ticking and cairo. the turmoil driving oil prices to a nine-month high. joining us now is global energy strategist. and, as always, thank you for joining us. it appears in egypt. why does it have an impact on our oil prices. is it because it is part of a big area of oil transit? is this rise in prices justified? >> ashley, number one, egypt is quite correct. the real problem, however, really is not egypt at all. as the instability intensifies in cairo, there are ripples

being felt throughout the entire region. especially as we begin to see the rise or the spike in prices in europe as an almost direct consequence. two things have been taking place over the last couple days. protests have begun again in libya. that actually is curtailing oil production. that has a direct impact on europe. moraine has no oil of any consequence. it is a little island out there in the persian gulf. it is connected to eastern saudi oil rabia. the eastern province and saudia arabia is a majority she ought. for the first time, if that

spills over into saudi production, you have a real problem. ashley: they actually sent their tanks across the causeway. by all accounts, that is what will happen again. do you really expect any problems? >> you are quite correct, ashley. they are probably better than any other nation on the earth. there are two things that are fundamentally different now. number one, the opposition is far better organized and has far better networks outside of the country. number two, it is very clear

that ibm is providing support both to the opposition and to the developing opposition. this is going to be a much more difficult thing to deal with them last time. the uncertainty will be enough to drive up oil prices. ashley: we are almost out of time. how high could they go? >> i put a wti cap of $500 as a short-term trading feeling last week. i am now increasing that to $113. we are seeing the compression of the spread. both of them are going north. ashley: wow. we will keep a very close eye on what is going on there. as always, thank you so much. >> thank you, ashley.

lori: back here at home obamacare was described as providing affordable care for everyone. limited options and massive bills. gerri willis joins us with more. i do not know if a lot of people realize they cannot get long-term care under obamacare. gerri: they backed out because it was too expensive. they cannot do business. they overestimated how many people would be involved in the marketplace. they made severe mistakes. now they are paying the price. you are stuck between medicare and medicaid if you want to pay for long-term care. there is a big gap unless you want to sell off everything to pay for the nursing home. people are desperate for this kind of assistance.

lori: is it wise to lock in your long-term care insurance as long as possible? could that sort of offset the blow? gerri: by it earlier because it is cheaper that you buy it earlier. the reality is that half the players in the marketplace have fallen off. right now we do not know. premiums are 29% higher over the last eight years. buyers have dropped by 48%. they are being forced to raise premiums. let's wait for that shakeout. see if they can make this work and then maybe we can buy in. ashley: it is what it is. they have to make that step.

lori: it is a gamble. it is kind of a risk. what a tough situation. gerri: i think you wait. you do not know who will be around for the next five years. tonight we have something very interesting going on. we will be talking about colleges and universities as we have all week. we will be talking about that. the high default rate on college debt. what can be done here. we will be addressing it tonight. however, there are forgiveness perks. ashley: "the willis report" tonight. thank you. the lou dobbs show tonight. that is at 7:00 p.m. great show last night. you are the hardest working anchor in the business. lori: that is very nice of you.

we have k.t. mcfarland on the turmoil in egypt. also, ed rollins. ashley: that is a great show. coming up, our special report. small business, big ideas. he left wall street to start a butcher shop. meet justin grossberg. he is here with all the meaty details. lori: interest rates are still elevated. a little bit of buying. the 30 year note is yielding 3.46%. back in a moment. ♪ [ dog barks ] i want to treat mo dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business?

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♪ >> i am out of shapiro wiki or business brief. home prices approaching their biggest annual gain in seven years. real estate data provider says prices fell. the justice department says they violated the requirements.

chrysler's jeep speeding to the number one spot as your most patriotic brand in the americas. it surveyed 190 brand names. hershey's and coca-cola they tied for second place. that is the latest from the fox business network. giving you the power to prosper. ♪

lori: small business, big ideas. the meat house. changing what it means to be a neighborhood butcher shop. the company's big expansion plans. joining us now is justin rothberg. welcome to you.

>> thank you so much for having me today. back the neighborhood butcher. >> high quality product and a high touch atmosphere. we really look at ourselves as being in the hospitality industry. we just so happened to have the wonderful position of being able to sell wonderful meets. lori: are they better versus the average grocery store? >> we look at our products and a good, better best category. depending upon where our store is located. some areas are a little more difficult.

we have to go outside into more of the regional and national markets to bring in the quality standards. lori: it must impact your overhead. how are you managing that? >> i think it is twofold. we are staying competitive in the marketplace. we were right in line than our competitors. i think secondly, it is working with the local farms. they have a continuous source of their products at our locations. we get some price stability. lori: ashley, see that picture of stakes? ashley: have not eaten yet. [ laughter ] lori: you are expanding your franchise opportunities. >> our average store size is

between 4,005,000 square feet. we are looking anywhere between 650 and $9000 for buildup. lori: interesting. >> our franchise fees -- it is very competitive. especially with the amount of training. we are very much a hands on organization. lori: the cofounder and ceo of the meat house. thank you for sharing your story with us. >> thank you. ashley: getting so much closer to the $100 a barrel. $99.60 a barrel. the highest level for crude since may of last year. it is a quarter till.

time for stocks as we do every 15 minutes. the dow is still low. then willis joining us now. we were up 75 earlier in the session. what happened? >> a great indication of how fickle this market is. we came in this morning and we were fascinated with a good story out of china. as time went on, we started to get some disappointing numbers out of portugal. grace was also part of the story. the eu is coming back into play. then we had our own mr. dudley of the new york fed make comments. we will be tapering by the end of the year. we will use different matrix and some people think we will use,

but we will be tapering. ashley: very interesting. right on the money. lori: a brazing jewelry heist. it happened right in the middle of the party. we will tell you what the thieves got away with next. ashley: let's take a look at today's winners and losers. we did have some winner on the nasdaq. take a look as we head to break. ♪

lori: you cannot tell the players without a program. the cable industry buzzes.

dennis: gas. the cable industries on multibillion-dollar possibilities. these egos made stop any deal from getting done. the largest cable company in the world and sold it to the old at&t which sold it to comcast. now he wants to shake up the u.s. once again. an industry superstar. he owns 20% of charter. charter is the trojan horse. and another quarter, you have these two guys. time warner cable and his number two. eager to run their own show. if it were to show, he may need to train the number two man.

the calculus goes like this, malone wants them to bid higher. they want to stay independent. they may try to buy cablevision. maybe no deal gets done here at all. someone has to bow and blink first. lori: i need a chart. we have some news on disney. it goes to paramount. it will acquire the rights. disney kind of locking up that

franchise. it paid 115 million for two films. i am sure it is a good deal for disney. ashley: there you go. thank you, dennis. oceans 11, 12, 13, 14, 15. what about a link to city three? all of this while they were in the middle of celebrating their tenth anniversary last night. three men fled the store on foot. $500,000 worth of jewelry and a smash grab. lori: quite a loss.

ashley: they got away with it at least for now. lori: "countdown to the closing bell" is next. coinstar gets a new name. the plans to take on netflix and amazon prime. ♪

♪ liz: hosting the strongest numbers since 2007. we will look at the leaders of the pack. out with coinstar and in with -- the company gets a new name and buys a company that allows you to exchange your old phones and computers for cash. this man once turned down a $6 billion buyout offer.

now he is out of a job and he is composing music. ♪ >> can you guess who he is? can we expect to find his music is counted on groupon. "countdown to the closing bell" starts right now. ♪ liz: that was quite a hint. good afternoon, everyone. it is the last hour of trading. oil is moving much higher right now. what is this about? pretty obvious. massive protests in egypt. and ultimatum by the military.