number with respect to the stock market, but not good for anybody looking for a good paying job. most of these were leisure and hospitality, retail, low paying jobs maybe $12 an hour. the stock market may like it even though the futures have come down. if you're out there looking for a good paying job, not good news. >> it's good news for right now and i think the issue is the types of jobs that are created, but i think for people who are looking for the fed to continue stimulus to support the socket as it continues that uptick and being in sync with the balance sheet from the fed. it's not too good, not too bad. charles: we shot up 170, ab the dow is showing 82. so wall street grappling with what it means to the federal reserve? >> right, the thing is you want the goldilocks number not too hot, not too gold and i'm not getting to the layer of it's the not the right jobs. the worst recovery, from the worst recession when it should

have been the fastest best recovery. i'll take any job growth i can get for now. i like the private sector 202,000. but you need 350,000 to truly grow the economy and get 14 million back. charles: seems like a pipe dream. what about this number, 322,000 people working part-time for economic reasons. i'd put an asterisk next to that, that's huge. that means people, you're back into the job market, but golly, working part-time. and by the way, this dove tails right after the decision by the white house with obama care, precisely because of this it feels like employers are hiring, but they're saying, no, i'm going to bring you back part-time. we look at this-- >> a 30-hour cap where obama regulators just decided that no longer the 40 hours is full-time, 30 hours counts as full-time. and you've got part-timers that look like full-timers to the obama regulation. >> and another thing, companies are hesitant to necesssrily bring on more employees right now. a lot of times, wall street

about -- you saw wal-mart reinvest in its condition and buy back stock and not hiring, doing a safer bet-- >> wait a minute, companies do not, oh we're not going to hire guys we need to make stuff and buy back stock. we're buying back stock because they don't have enough demand-- >> exactly. charles: to a degree you're saying they hire on the assumption or belief that the economy gets better. a chicken and egg. >> they've got to see demand first. >> so they're-- >> and demand may never materialize, the other side of that. >> no, no, hiring never drives demand. if you did that you had he have the monopoly a million people at at&t. you've got to wait for demand and then you hire more people to make it. charles: what about the notion traditionally they say when we come out of these sort of ruts, when we see part-time exploding the way it did last month, it

could be a good sign. at first we bring them on part-time and then after you bring them on part-time, things are okay and make them full-time. >> the ultimate internship. charles: i think there's a new paradigm. you come on part-time and you'll be lucky to stay part-time. what do you think. >> i think it's hard for companies to transition into full-time work. you look at business models and the way they do, they can get enough out of you for 30 hours or less. it's a problem, but better than potential structural unemployment we were seeing earlier. it's a marginal number that beat expectations however, not obviously as much as everyone wants. charles: it's interesting we're having this debate and grappling what it means and then obama ruling, if i'm going to hire and keep them part-time, i've got to pay $2,000 fine for not giving insurance. are they part-time because there's not enough demand in

the economy? >> and with the obama administration deciding, no penalties on employers until 2015, probably there will be an extra on employers to decide how many to bring on. charles: some people are saying, part-time is better than no job at all. particularly if you're looking for a good paying job. the fed and the europeans the same thing promise to keep printing. in fact, it sparked a huge global rally and it might to do the same thing. markets are looking higher now that the june jobs report is out. the bell is next.

>> all right. guys, we're a couple meant away from the opening bell. ap joining the company from chicago, scott shelldy. the european banks and bank of england said everything right and the markets surged. what does it mean for us and what does it mean for the feds? >> it's going to be supportive for us, just because. number two, i still take the words, data dependent is probably the most important thing right now which means jobs and inflation, those are the two things the feds are looking at and if those are the two things the fed is looking at. it's not tapered tantrums. it's the taper caper.

right now we'll continue to see the fed print in the u.s. here, well in the next year. i don't think it's going to change because i can't see that unemployment number coming down fast enough. >> listen, we spiked to the upside immediately after the number and came down and gave up almost 100 points pre-market here and we're all over the place. i mean, is this number enough to move the fed toward tapering? >> i don't think so. bah us we're looking at inflation or the unemployment rate and that is 7 1/2%. they're looking at 6 1/2%, we have more of a chance of deflation in this country than inflation and i think that while europe is having a lot of problems and going to print and saying is overtly. we're going to print covertly and there isn't anything else we can do. and the market can't sustain itself, because it doesn't have the numbers enough to float on their own. what today in your mind will make it a successful session. do we need a triple digit day, and the fed has your theory and

you should stay long and be long and just go with it? >> yeah, if we could finish higher than we were before, ben spoke the last time around, i think it will make it a good day, as of yesterday, 20, 25 points. if could finish above where we started, thanks for that prompts. have a great trading day right now. guys, the opening bell is ringing and the first tick up, and of' got to go more than that. it's going to be a very, very exciting day and you cannot go -- if you have to eat, order in, that's all i can tell you. we're talking more money printing, and better jobs numbers and nicole, we've got to start out with winners. nicole: the majority of names are well into the green. watching them as they're opening, one at a time. j.p. morgan, bank of america, you're watching these names, obviously the financials are leading the way. and the drug index, and all up

arrows. two things that grabbed my attention, charles, obviously, the report and the dollar is flying. treasuries, the 10-year, 2.68%. >> i know, that's absolutely amazing, and the market is up. i don't know that all three of those things can co-exist, we'll watch and see, dollar strong, beyond yield soaring. thanks, nicole. >> right now we have the jobs report and i want to bring in paul conway, the secretary staff under george w. bush. and i know we're in the era of celebrating mediocrity. can we say that this is a good number? >> i think it's going in the right direction, charles, but i think the asterisks, you have he appointed out important here. one to part-time jobs, it's important to look at what's dreefg driving that, in terms of the labor participation rate we're at the lowest model

overall since 1979. we're not growing enough jobs to employ more and more people to bring down the unemployment number. >> and then of course there's the quality of the jobs. before we talk about that, what do you make of 322,000 people working part-time for economic reasons? that's a gigantic spike. >> it's a major spike. i actually think it's very troubling because the issue here is whether or not businesses are picking up people because of part-time needs due to the health care reform and other issues, or if they're just taking a look and testing people out. what you want is full-time job creation and when you see a spike like that, you need to look at it the next three or four months and see if it sustains or people convert into full-time jobs. it's a worrisome number we celebrate people going back to work in any capacity, what it means long-term, we need to keep a careful watch on it. >> listen, no one expects an overnight epiphany for the white house, if they just put one phone call, it you could sneak in there disguised as a

union organizer, what would you tell the white house? >> i think there is space for unions and employers to work together. i think the big number here is to look at this. two out of three jobs are created by small business, and represents 50% of the gross domestic product. the question for the white house, what is impacting job creation and what is impacting that small business? if you listen to them and you listen to small business owners they will tell you unfortunate in the marketplace and unfortunate with what they are going to be required to do, largely under health care. . charles: having said that, this decision earlier in the week to delay the penalty for employers with respect to the obama care, let's say the white house said, okay, you know what? we'll make that permanent. do you think that will trigger some sort of mass job creation and also change the dynamics of employment from all of these big-- all of these part-timers to more full-timers? >> i think it will be a positive signal, but a couple of things the past 60 days to keep in mind. one you have a health secretary

who says she's surprised they have to implement. and two the gao coming out, as far as the exchanges they have little confidence that the states and the federal government will be able to stand those up and also the modifications in april where the small businesses were told that employees go with the plan that they select as opposed to small business employees picking what they want. so, you have a succession of things going on with the overall health care implementation that are problematic, one laser shot on the fix list will not fix it. you've got to look at the whole law. >> paul connolly, have a great weekend and we'll talk to you for sure. >> happy independence day. >> thanks. a beg -- a big name, lululemon, what's going on there? >> it's interesting because the chairman has been sharing off shares. the chairman recently sold 50 million worth of stock, it was a scheduled pre-arranged trading move when the christine

day, when that was announced. now, cutting down on his holdings and looking for $220 million pay day. so, this will be about 3.4 million shares and reduces his overall holdings to 25% from 28%. we know lulu has been struggling this year. charles: crossing the wires, reports that egyptian troops have opened fire on pro morsi protesters. at least one person seriously wounded. joining us frederick stanton, producer of "uprising", your film dealt with the 2011 protests. what is the same and different this time around? >> i think there are important similarities to what happened in 2011. most significantly, what really happened was the crowds in the streets put pressure on the security forces to ease out morsi. what is different this team

around, much more quickly and took four days here. while there was violence, there was a great deal more bloodshed, and because the forces went quickly to the side of the protesters. charles: a lot of us are confused, mob rules, you had a democratically elected leader and you turned on the guy in a few months. >> while morsi was democratically elected, he abdicated his credentials through steps he took. he issued an edict claiming that his rules were above judicial review. he reime -- re-imposed the emergency law and in addition to the fact that the economy has tanked in egypt, the desire to return to the original demand for the revolution. charles: a true democracy. >> correct. >> you in your film talked to

so many different diplomates and experts on the ground. have you still been talking to them now during this period of time? what have they been saying? can you talk about the economic situation on the ground among local businesses? >> yeah, absolutely. the young liberal activists have been incredibly frustrated by morsi's rule. they put a great deal of currency and effort and shed blood to get rid of mubarak and they were disappointed to see this take of theocratic dimension. the economy, as i said, tanked, and egyptians living on less than $2 a day risen from 40% to 50%. infla -- inflation has skyrocketed so the economy is a huge reason that so many people came out on the streets this time as well. in addition to morsi encroaching beyond his political power. >> i'm not sure i can ever remember a more public display of a debate within the muslim

population between people who feel leike, yes, that's my religion, i don't want it running my government and people who feel like, i want this running my government as well. is egypt alone or could the clashes spread through the middle east as well. >> i think it's important. what we're seeing is repudiation of the muslim brotherhood and islamic theocratic rule. we've had millions come into the street and state power reject overwhelmingly the muslim brotherhood's attempt to turn egypt potentially into something along the lines of a theocracy and i think that will have implications far beyond egypt's border. >> by the way in the update. three people now have been killed in egypt with the counter protest. frederick stanton, the documentary is called uprising. thanks a lot. >> thank you. >> new at 10:00, governor mike huckabee is going to join the

company. prime minister seems to be losing his mojo, but as the second term agenda slows down. moderates versus conservatives, we had a great conversation last time and we'll pick it up at 10:00. right now i have the honor of trying to find stocks moving up. >> apple, considered a letdown for all smart phones, but apple was edging a little hiefrment and a company that's amazing, the former coo of chipotle started that company. and an upgrade. it was reiterated a buy and target was raised to 69 and they say the company would buy back a lot. take a look the deep water driller, from buy to neutral, huge resistance going back to 2012 and a close above the giant breakout. asml. they missed the street the last three quarters and earnings trending lower and yet the stocks continue to move higher and i think wall street had faith in the future.

buffalo wild wings had an upgrade. and miller tabak. the new seller, and tesla spiked, and their orders in hong kong spiked and doubled the amount of cars and that stock looking fantastic this morning. and let's check the big boards. a lot of this may not have anything to do with the fed at all. we could have been well over up 100, this could have been due to egypt, but both headlines are dominating the market. a markee selloff, a little bit. we're headed to the second half of the year in trading and bernanke saying we're still printing. what's going to happen with your money next. (announcer) at scottrade, our clients trade and invest

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>> checking the big board, the markets, listen up 77, but we thought we could have been up 200 points although this could be a wild session and you never know by the end of the day. let's check on the price of oil, again, up in part. you have to believe part is connected to egypt. 101.66. look at gold, someone earlier in the show talked about deflation. gold down this much argues maybe this is the crisis for the federal reserve hammered again. right now i want to stay on the market and bring in john layfield. and the market had an un-- run the first half of the year. what do you think, a big second half? >> i don't think we'll see a big second half, but a good second half. i think that the market was spooked by what bernanke said, but the market is still the only place safe in the world to

put money and get really good yield. the fed talked about they're going to raise interest rates and that spooked the market along with the stock buying back program. and they're going to raise interest rates when the unemployment rate gets down to 6 1/2%. we have the lowest labor participation rate in over 30 years. once people see the economy is doing better they'll join the labor force and keep the unemployment rate higher than it normally would be with people just needing jobs. so i think it's going to be quite a while before you see a raise in interest rates and i think the market is the place to be. >> so the audience understands what you're saying, we had 177,000 people come into the labor force and yet, it moved the needle small on participation rates. and that gives buying room. people are worried still. the feds, ben bernanke opened his mouth and despite we know that 6 1/2 is the target. people think it could happen

sooner than that. >> and i think what you said, the denominator changes. people drop out of the labor force. they have been unemployed so long and this is not built for high unemployment. and the interest rates, helps in a cyclical down turn, we have a structural jobs problem and once you have the people dropping out of the work force, it looks like the rate is coming lower, when in fact, it's really not. and i think that's why we see a lot of people not touting this unemployment rate because the labor force is not growing significantly. and has not for some time. >> let's talk about the market. let's talk about specific ideas here because a lot of people, they're saying okay, missed the first half and the last four years and second half is going to be good. what are a couple of names that people look at. >> i love yahoo! and the reason i love yahoo! marissa mayer. she's doing a wonderful job. you have a tech ceo and these are smart people. and the best thing to do with

your money is give it back in a dividend. you're not creative. she's going out and shows google about making acquisitions and google is a good company, but yahoo! is my favorite tech play. the company with the cash hoards, the big tech companies, yahoo! is one of the ones at the forefront. charles: she's obviously become a superstar almost immediately and the street likes what they see and getting the wrap and want the audience to know you like devon energy because web texas shell. and in bermuda, try to have a good day. >> happy fourth. i'm waiting for you to visit me ei know you don't celebrate it there, but i'll come down for halloween. middlebury college of vermont long time supporter . and what this university president is pushing for.

it's amaze willing after this.

>> fracking is banned in the state of vermont and there's a moratorium in the state of new york right now, but middlebury college is now supporting a pipeline that would actually carry fracked natural gas. middlebury country an

epicenter. so that's a big surprise. >> it's a big surprise, but not a big surprise, they went carbon neutral in 2007 ap trying to sustain that goal. if you look at the website they're talking about the mission to be sustainable. here is the deal if they need to transport the biomethane to the campus, and switching from cow manure to the biomethane on the campus in order to keep that going at a rate high enough to keep the campus sustainable. that's why they need this. obviously the community and the entire region is quite anti-fracking. >> the bottom line-- it's a money investment. 2 million already in the program. charles: and what it says, there is a path between where we are now with fossil fuels and to cleaner energy and a logical part of that path is through natural gas. the idea that we would leapfrog everything that we're doing now straight into wind mills and solar panels isn't realistic. >> nat gas gets us off the

carbon emitting, and early 2012 we saw the carbon emissions in the u.s. drop to a level not seen since 1992 and nat gas was so cheap that the u.s. utilities stop burning coal which is dirtier and that helped. i think that middlebury college, a greeny crusader when it endorses fracking, how will they separate out cow gas from nat gas on the pipeline is beyond me. what it says, fracking is not dangerous. while the green movie has been trying to scare people, fracking, fracking, the bad chemicals come out in the earth and you can find a way to fix that and wall street journal consistently say they don't have any research that it's truly dangerous, it's a fear that might go wrong. >> you have a water table here and the fracking going done down here, 7 or 8 empire state

buildings below the water tables and we hear that the fracking leaks into the water and to your point there has not been proof of that. and we know the economic benefits of it look at pennsylvania alone and north dakota, it's been a godsend for jobs, good paying jobs, u.s. oil imports at a decades low, down, down, down, helping our current account deficit. charles: so what do you think. >> it's a tough situation because i think that vermont is going to become a very important example of how this could go in the rest of the country and i think that you see the local population is really upset about this because it's not in my back yard we don't want this to happen here, the dangers and concerns that everyone has and you have a powerful university and we can't forget that these universities are very influential in the communities and they are the main employers and economic generators saying we want to go ahead with this. interesting to watch that. charles: absolutely. all right, guys, up in the next hour of "varney & company,"

governor mike huckabee is here. and i'm going to ask him about the g.o.p., what can they do in 2014 and even 2016 and has the potential obviously to revolutionize the video game business and i'm segueing with the game called uya, and i think we had one early in the week. can it give xbox and playstation a run for their money. the ceo is on the show and more developments out of egypt. three pro morsi demonstrators have been killed by egyptian security forces. the latest story at the top of the hour. fidelity, we give you the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

word varney. president obama's agenda falling flat. i am calling him the vanishing president. lagging economic recovery, diplomatics channels overseas. can the gop capitalize? governor mike huckabee will be here and we will talk about that and moderates versus conservatives within the gop. look at this gadget. it promises to change the game in home entertainment but does it have a shot to take on microsoft and sony? we will find out? and we can't forget about the ongoing crisis in egypt, muslim brotherhood promising a day of rejection after the military overthrew their guy. three people killed so far by security forces but is president obama doing anything about it? we have major economic news out this morning, 195,000 jobs created last month, that line looks good but it isn't good

enough to get this recovery going. along to your seats, the second half is going to get going, "varney and company" about to begin. take a look at the big board. indications that one point this morning we could have been up 200 points. we are pulling back, may be a combination of reaction to the jobs report, egyptian story playing a role too. let's get to the jobs report, jobless rate remains at 7.6%. private-sector added more than 200,000 jobs, disneyland joline can't hear for the entire hour. want to talk about this jobless rate which we talked about, 30 years. >> one number 7 tract was how many dropped out of the workforce. you know the illusion when the jobless rate goes down you think it is a good thing but turned out because once people stop working for work and give up --

charles: 177,000 people came in but it will -- that is of good thing but keeps the rate down. >> don't we want to say that above 6% so that the fed won't start holding back on easy money and traders have the -- connell: when we stopped talking about the fed. i am looking at 6.5% people coming in to the job market. that will be the ultimate and we are okay. let's go to nicole petallides on the floor. nokia has been inching higher. nicole: two sets of analysts talking positively about nokia. and it improved materially in the second half of the year and that is the new headsets, deutsch of bank raise their price target, acquiring full ownership of the venture with

siemens, that will provide tive. more sales, more stability, more cash, up arrows. charles: joining the company is governor mike huckabee. president obama's agenda seems to be unraveling, the invisible president. i haven't seen him since his second term began. let's talk about that. where is the president? >> he just got back from the $100 million excellent did venture to africa but he is a wall on many issues. he hasn't spoken out about egypt but more importantly there are many things happening not the least of which is the decision to delay obamacare by a year at least on large businesses, look for a delay on individuals before the summer is over.

charles: these delays, there is a political aspect, economically we look to raise its thousand dollars a year from penalties and raise just as much and on individuals. was this all politically motivated for 2014? and a sign of desperation from white house? >> when you do this just because you want to delay after the 2014 elections when it looks like the senate will likely to it to the republicans and the house is not going to go anywhere near the democrats as long as businesses will laid people off and fact is this is going to be a big job blow right to the gut of workers. there's something, they couldn't answer the question regard to immigration reform. if you don't provide obamacare for $11 million who will be declared legal, and fire

workers, and escape obamacare. no one in the democratic party, none of the supporters of the immigration bill, they realize the train wreck was definitely cataclysmic. charles: to fire people or push people to the state exchanges. this segways back to the conversation i thought about lot since then about the gop being able to take advantage of this and the question about whether moderate or conservative can win, you talked about the fact the last two candidates were moderates and they lost and i agree with you but they were moderates, they stumbled trying to be conservative is that certain things from the conservative book of him as if you will was what really hurt them in a general election. >> i think there are a couple factors that will determine whether republicans can win. one is authenticity.

voters don't have to necessarily agree with the candidate they vote for but they have to believe that candidates at least agrees with himself a new end up nominating people who can't seem to decide what they want to believe this morning and every poll changes their convictions. people are sick of that. they want people who's yes is yes and no is no and they know what they are buying. the box is consistent and that is what people are looking for but the second factor i am convinced, republicans have got to speak to the working class people. republicans have done a perfect job of explaining why smaller government and lower taxes actually empire is the guy taking his lunch in a lunch box to the lifting heavy things all day and coming home and having to scrub hard to get the day's work of of his hands. before one word to that, amen brother. thank you very much. appreciate it.

ford is looking interesting. what is going on? nicole: only a few trading days in the month of july, up 8% this month. today gaining 1.6% and breaking out to new heights we haven't seen in a couple years since early 2011 to be specific. it has certainly been a great performer over the last year, up 72% and they recently came out with sales numbers this week, of i know before the july 4th holiday they did very well with small vehicles, small cars, trucks or 20%, continues to drop for them so great news for ford and great for shareholders. charles: the all-american company. should be going up. thanks a lot. islamists in egypt promised today to be a day of rejection following ousting of president morsi. here at home the obama administration has been relatively quiet on the issue.

joining us is christian, what exactly is the obama administration doing right? sounds like they have been quiet. >> very good company in washington in not knowing what to do. it is not just obama, basically reached out to the muslim brotherhood and nodded at the resumption of power in egypt but republican, foreign policy like john mccain and lindsey graham, it is unfortunate, we have been on the wrong side of two revolutions, political revolution in egypt and on the wrong side of the egyptian people on the issue. charles: you mentioned we to revolutions. they you think the silence from the white house and urges these protests? gives a green light to these revolutions because it feels like whoever the protesters are then that is to the administration is going to back. >> i don't think we have a political goal in egypt. we ought to. there is one thing the muslim brotherhood has in common with

hezbollah and the government that runs iran and even al qaeda and that is islam is a. the political theory that you should you of on mosque and state and have sharia or islamic law instead of democratically enacted law. the the the people we did trying to make life hard for not nodding when it come to power and we backed the secularists and real democrats in egypt and do things to help them rather than just sit and leave this to chance because what happens in egypt not only affects the world's most populous arab majority state but muslim majority countries around the world. charles: i was thinking may be right on the eve of the whole thing in libya that may be president obama establish the obama doctrine with respect to the middle east when he said we won't let a leader killed or slaughter his own people and then we fast-forward to see real where we are up to 100,000 people killed or slaughtered by their leader. what is the doctrine? what should the doctor in the?

>> the document is whatever is in my in box now and how do we manage it so i don't look too bad in a domestic political sense. the doctrine should be as i answered earlier to make life difficult for islamists ideally by using nonviol means. go back to the cold war. what was the tip of the speaker? the soviet army, the red army. the rest of it was communism. today the tip of the skier is terrorism but the rest of the spear is islamism. trying to find ways to make life difficult, the same types of things we did in the cold war to support reforms we should be support secularists around world. we need to arm them when actually the fight moves from the political realm to the military rralm then so be it but we need a goal and clarity and political correctness is getting in our way. dennis: a question. beyond egypt what country would be next to the hit with this kind of division among the population?

>> hard to say. one that could happen and should happen is here and. that regime which is not very popular, you have these phony elections where only regime blessed candidates could run for office and some sign that the merchant class in tehran is no longer satisfied with this government. good things to come. there was an attempt at a revolution in the obama administration sat on the sidelines. these are things we should be encouraging because they advance u.s. interests. egypt run by and accountable democracy would be good and iranian regime, government that was accountable to its people and not one that supports terrorism and tries to make her life hard for the u.s. would be great for world security. charles: maybe you could argue with iran that we kind of did some of the things you talk about, tried to stoke the animosity within the country, is it politically correct thinking

about politics, can we say that we should nudge of little bit more? should we have the cia and these countries pushing buttons with in the nation's? things we did in the past to topple people, leaders we didn't like, can we go back to those tactics? >> we should be very careful what we do. the cia has basically gotten out of that business, pushed out in the late 70s in the wake of watergate, the church committee in the senate, the pike committee in the house exposed cia success and failure is and out of that business. in the 80s we create the national endowment for democracy to do this but unfortunately the bad guys are wise to what the national endowment for democracy does, taken out of egypt for example, the head who has the ball weight equivalent of tenure, 30 years on the job is one of these people who believes islamists can be brought into the fold to support democracy, that has been tried in lebanon, iraq, egypt, failed every single

time. unfortunately we can't hold the president to complete -- the tools we have to influence events abroad are broken but we should try especially with countries that are causing serious problems in iran is one of them. charles: thank you very much, that was fantastic. by the way the market is up 20 points, we are starting to free-fall little bit. speaking of which the president has lost some of the youth vote last year and it feels like part of the things going wrong is failure to deliver on student loans. we know those loans of donna. will this hurt the democrats's chances in midterm elections next year? we have an answer for you next. i want to make things more secure.

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interest rates and have to expire. joining the company is they banquey. congress let it expire but a lot of people looking at the president wondering why he didn't intervene in this. >> going to africa, $100 million tripped didn't have time to deal with it and tom harkin actually said we haven't had time to deal with this. will too busy, busy doing what? they are barely in d.c. and they are not getting the job done that young people just starting out over half of them are not going to be able to pay their loans but stuck in their parents's basement. chaales: the administration says to young people make sure you get out and vote. and now the young people are probably like okay, we had -- >> hard time feeling sorry for 4 young college students to have to pay an interest rate of 6.8% if it doubles and already congress is going into it retroactively, looking at college as you how paternalistic we have become the idea that anyone who wants to go to college should be allowed to get a free federal guaranteed loan

with no credit check, no background check without even a check to make sure you are enrolled. the government paid the one$.5 billion last year in bogus payments including 34,000 people who were members of -- raise the interest rate because the default rate on student loans is higher than for credit cards charging 20% interest on credit cards and 3% interest, suppose reflect risk and the default rate on credit cards on college loans, 22%, once deferrals run out. they need higher interest rates. charles: we need an educated work force to stay competitive. >> if you can't go to college without a federal interest loan you are not hungry enough and not doing enough your own. i went to college without a low-interest loan. how about pushing back and decided i am going to college no matter what whether there is federal money or not we should not have had a takeover of the college loan market as the next meltdown. >> it is congress not getting the job done. that is a lot, whenever students

are starting out. is not their fault. they're not getting the job done. the basic fact inflation of college costs have gone up. charles: cheaper than it is now. >> you have to look at -- dennis: how to support that. >> the cost of college far outpaced any -- charles: irresponsible to step in and help me go to college. go to college yourself. find a way to get there. >> certain hurdles, and necessarily that shouldn't exist. if it is possible to continue a 3.4% rate, that should be something they should be able -- dennis: why isn't it up to each

of us to find a way to do it. >> it is not the students's fault. and we have not only that, the economy is so bad, and -- charles: we will see who gets the political frame. getting a wrap, i love that. >> think about the parents. charles: we have to come back to this. quite a lot happening in the market. and the market is cautious for the next six months. that is next. this is greta. she works in quality control.

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charles: check of the markets, we are now down, at one point before the open there was a suggestion we did the 2 points. instead dollars of 15 points falling slowly but certainly falling. what hasn't and falling as shares of noodles. where is it now? nicole: in the markets turned in to the red, noodles but we're featuring this company because ideas obviously have had a tough time recently but this one started price $15 to $17 and prayers to $18 a week ago and

here it is, $44 in change, approaching the $50 mark and pretty unbelievable, casual dining is what they do, pretty unbelievable to watch the stock. charles: the tag line is a world of flavors under one roof. which they hand under my portfolio but i don't hold any. thanks a lot. the market is getting in a little bit. i want to bring in kyle harrington. i know for the most part you are bearish about a lot of things with respect to the economy, politics, you are, but by the same token you have been in the market. i want you to talk about the second half of the year, bearish,. and why. >> i am cautious. don't get me wrong. i love the u.s. equity market. is the only place to be. all i am suggesting is be prudent, be diversified and very vigilant. i think we still have an amazingly sluggish gdp growth at 1.8% for the first quarter of the year, the revised number. i think we have an unemployment

rate that is emerson.5% for a link the period of time. we are on our way to $17 trillion in national debt. this is what i am suggesting, examine your portfolio, examine what your personal risk tolerance is and apply and be vigilant about watching your portfolio, higher trusted adviser or if you are doing it yourself find the names, find the funds, find the edfs you think power undervalued relative to the market and enter into them with an average cost. you don't have to buy all at once. you to identify names that you like and ease your way into the marketplace piece by piece because as we have seen today we thought this was 195,000 new jobs, it is great, market will be at 200. but as you just highlighted it is selling downward. charles: all the things you are saying sound good on paper, be prudent, be diversified but a

lot of people watching the show remember 2008, early 2009 when everything went down and got hammered and is easier said than done, be prudent, how does someone do that. you don't have any faith in the obama administrations of the wheels come of you will thing may be the worst-case scenario is out there. >> you have to again get with research, get with a trusted adviser that you like and be prudent about the fact and -- charles: a lot of people say i can't even get the guy on the phone when the market was rocking 300 points at a time said don't tell me that, i don't want a trusted adviser. i was led down a wrong path. not trying to dis you but the point is the real point is first of all how do you see the second half of the year and your point if the worst-case scenario does play out to people simply use stops or should they ride it out?

>> there are mutual funds out there that you can alone that participate in the upside of the market as well as the downside of the market so of the market place trades down the dow jones, the s&p 500 you can participating gains. you need to search those funds out because i think the market is choppy at best the remainder of the year. the unemployment rate -- charles: does that mean we hit the highs of the year? 0 we could fall for travel? need a real quick answer from you. >> chop the means the market place once but the punch bowl is removed from the party the federal reserve, the marketplace could easily sell down 1,000 points on the dow jones industrial. that is what i mean. you have to own names using car value oriented positions. charles: got to give you an update on a developing story out of egypt. report said egyptian forces

opened fire on demonstrators killing 3, an army spokesperson said troops did not open fire and forces were only using blank rounds along with teargas. we will continue to monitor the situation and bring you the latest as it comes in. have you seen the president lately? to me it seems he has been traveling a lot or just hasn't been around. democratic doug schoen next on the vanishing president.

charles: gun-control after sandy hook is nonexistent so far, the white house has been remiss of ellis island on each of the. joining us is doug schoen. it almost feels like weather is waldo? the president seems to be vanishing before our very eyes. where's the president? >> the president was in africa and we all have to applaud his efforts there. charles: hold on a second. he took a family vacation under attack paradigm and we applaud that? >> fighting al qaeda and trying to bring economic development to a region where we have been absent for a while is a good thing but the larger problem is we are absent in the middle east, we have no discernible impact on egypt, certainly syria we're playing catch-up with arms, john kerry spent the whole

wheat as a dairy states shuttling between the arabs and israelis just to get peace talks going so he is missing and i don't see the trip to africana as of vacation. i think celebrating nelson mandela is a good thing but obviously there are important priorities that are not getting done. charles: with all the scandals in this country certainly with the economy in this country and the president's and agenda -- his own agenda, all the things he didn't do in the first term he promised he would do and the things he said he would kick off in a second term not happening, probably immigration -- aren't democrats a little worried about this, aren't you a little frustrated? >> democrats are worried and that is why obama and his administration felt it was prudent to suspend full implementation as far as the employer mandates on obamacare this week to try to take some of the wind out of the sales of the republicans and immigration and shot past. not clear to me it is a great deal anyway and bottom line

there are no jobs agenda, no economic agenda, no plan to strengthen our economy. dennis: the thing about the obamacare delivery in 2015, could get delayed beyond that. does this end while it helps the democrats in the midterm elections don't have a lot of bad publicity, does it end hurting hillary clinton's run from president? as she is gearing up in 2015-2016 suddenly all these bad headlines about obamacare? >> anything that weakens the democratic party long term artillery. hillary has to hope the democrats's greatest ally, the republicans, are has been kept as they have been in prior elections and that could assist her but bottom line she has to hope against hope that the obama administration does not continue to fail to address our key priorities. charles: the president comes back from africa and has all

these things on his desk what does he tackled first, what does he put everything he has into? >> the first rule of the commander-in-chief is to keep the peace and he has got to try to stabilize the situation in egypt, stabilize egypt and syria but that being said, domestically it is jobs, jobs, jobs and the economy and so far i may have missed it but i haven't heard much from him in recent days or recent months. charles: we at a relatively good jobs report but a part of that, 322,000 people working part-time for economic reasons, still have 4.3 million people who are chronically unemployed, they have been unemployed 27 weeks or longer, some of these things, deep inside the economy i don't think will change anytime soon, with the president's economic policy, the entire business and i success, how does he get away with this and how much longer will the american public accept

these new norms? >> i don't think they will accept indefinitely. if i were him i would be working with the republicans on some sort of plan to do tax reform and deficit reduction along with the inevitable extension of the debt ceiling. bottom line i don't think will happen. i think the president will stand firm based on the climate change initiative, when in doubt, tax -- i'm not optimistic and agree with your premise. charles: we have a meltdown of receipts in the middle east, the syrians made recently but we are going to hear 100,000 real soon and i know our public waited for us to go into these militarily but we see where iraq is beginning to have a gigantic sectarian meltdown. we see in afghanistan another bombing overnight. the series fell year and a place where the president made this focus, started the apology tour in europe in the middle east and

it has gotten worse, not better. i just joan know how he gets away with it for so long and how other democrats don't try to nudge him in some definitive direction. >> the democratic party if nothing else is monolithic in support of him and you are writing your assessment and i would add to other countries, north coriander iran. bottom line, they're both emerging nuclear powers and unless i am missing something we are at square one with both countries and facing potential existence or risks to the world, potentially even our nation. charles: where are you? looks like a pretty good spot. >> i am in south florida and it is nice to be here and we miss you. charles: save the margarita. thank you. we call it the orgy with tech company. we follow a lot of these, we like to be in on the latest trends particularly in the video game industry but here's a

question. there's a hot game out and, we want to know if this game and hot sales and translating to profits. we will ask the ceo next. e, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade.

charles: the participation rate, 63.5 is up slightly from may. the unemployment rate remains

unchanged at 7.6%, private-sector added 200,000 jobs in the month of june so let's take a look at the market, the dow way of today's highs, actually we are vacillating between up and negative. the protests heating up in egypt over the ousting of former presidents morsi. is up 102, hasn't been there and along time. gas, no spike, gas was down a little bit, national average $3.47. coming up revolutionary game system hitting the market, people love it but will they make money? the ceo is here. with the spark miles card from capital one,

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or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button? charles: gold getting hammered. nicole: gold down $40, commodities of sitting at 12-12. we were talking about gold in 2,000, let's look at some stocks and how they're doing, these stocks are hitting new multi-year lows. all large, they are at these lows and it turns out in one case during the financial crisis, these ten year lows you could start to see -- not ten year lows the ten year charts, it does like we saw in 2011 and the blue line, follow that one and you see the spike and this big debt, obviously a ten year low looking at that. tough time. everyone was talking gold, every

commercial on tv was by gold and now look. charles: there is the huge demand for gold coins but the gold itself getting hammered doesn't help the stocks of all. thanks. time for me to try to make you love money. with a company called work day, a hot spot for a while. i have been waiting for a pullback before talking about it. they have a revolutionary software application for a human capital management in that space where oracle does a lot of acquisitions, sort of the head and shoulders formation right now. will go 70 or lot higher. talk about something that has been hot, the newest getting system hit the ground running. creating a whole lot of buzz, the small, simple, cheap consul but looks so cool. we have one here. they went on sale the week ago, retail's like amazon and target sold out immediately, and in companies the ceo julie berman. congratulations on your success, absolutely phenomenal. one of the things is the price

point. my first thought was it is inexpensive, can you make money on it? >> absolutely. you mentioned it right away. it is a $90 game consul where all the games are free to try. we really wanted to make getting accessible to gamer's again. when they were in their living room. absolutely we can make money on it. we try to sell the hardware as extensively as possible. to date is $99 but we make money on software like any other apps platform on the market. charles: you have 17,000 developers, free-lance developer is coming in saying we want to use your platform to create new products. >> i checked this morning, we have 19,000 developers that want to bring their contents in, aaa-developers, you can play sonic the hedgehog and large independent game developers like brian fargo and newcomers and that is the genius because we have built it to be open, any type of developer large or

small, tons of cash or two men now living room can build the game and bring it to the television. charles: i have someone who is younger and hipper than me and has a better question. >> a lot of reviews are out that people are asking about, what is next, you are in talks with netflix and other applications and now there is tune in radio aside from games there being developed by these developers, what is the future? >> the real focus is on bringing great games to the living room, we have over 210 games live today a week after the large -- 50 of those games are exclusive, that is why you will buy. for $99 the opportunity to try these games for free, 50 of them are exclusive to us. moreover as you mentioned we can also have applications so we have tune in and crunchy roll lands which tv so applications are going to grow as well.

charles: you don't have angry birds or the more popular games, one thing i was wondering about is already a game developers a right to the playstation 4, or microsoft or android but i can't just take android and put it on your machine, have to modify it to play on your machine. how much of an obstacle is that going to be for you? >> not much of an obstacle and actually really important, that differentiates us. we want you to play the best games on the television that really require accuracy and precision where control is the best way to interface with the game. you may not want to play a reflectives soaring rotunda television because at the end of the day the best is a eight binge phone in your hands but if you want to play an action game or shooter, sports game or racing game you want to play that on the television with the controller so power requirement to developers is it has to be optimized for the television, has to be optimized for the controller, has to be a great

experience for gamers and most importantly it has to be free to try. dennis:-the mobile phone? >> we are not on the mobile phone and the most important thing is things switching to the mobile phone, what the mobile phone has done is make every single person a gamer. we all game with them we are playing candy crush on our phone or call of duty on a x box, we all like to play games and the genius and greatness is you can get all different types of games back on television. don't have to be a aaa publisher and don't have to spend $60 on a game before you know if you like it. if you like the idea of trying something on your mobile phone before you pay for it is the same business model we bring to the television. >> of the guns are as exciting or passionate as you are you guys will continue to be successful. congratulations. do you celebrate our nation's birthday with a movie?

how about despicable me? dominated the holiday box office so far. disney's loan arranger a giant bomb despite the fact the johnny depp was in the lead. we will talk about it next. epor, customizab charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

charles: another animated feature yet again beat out a big budget hollywood movie. this is over the last day. despicable meet 2 earned $34.3 million, above johnny depp's lone ranger look like a big flop, $9.7 million. what does this mean for the industry? >> this is the most monumental flop of the summer. you after earth with will smith, a big flop, and this white house down the cannot week ago, this could have a right out for disney upwards of $200 million for john carter, the film is said to have cost upwards of a quarter of a billion dollars to make and comes in at $9 million, originally having -- charles: how you get that? >> special effects. >> do you say we got johnny depp in the process? >> hours of the caribbean, films or five films, billion dollars, and jerry burke, those guys are

a money machine so you figure you give them a big budget and special effects and revive an 80-year-old character, but western's don't do as well as other things at the movies, the biggest debut for western was cowboys and aliens, $36 million and that at aliens. >> you can integrate technology and get people into the latest version of it and this is a lot harder and despicable me ii looking at a family holiday weekend a lot of parents looking to gather of a heat. charles: isn't johnny depp a hit or miss? could be big? two bonds and row. >> this one and another film before it, the dark shadows, the parity of that. charles: another show, 6-year-old show. someone is going deep into the vaults. >> he is a big draw always been this film wasn't good. it does 2 hours and 28 minutes,

trailers and transports, a three our time slot. charles: that thing on his head, this the $250 billion on a budget that $2 on a taxidermist. you can get something better than that. it looks like he vomited on the street. this is cute. >> it could manage to come back and not be a total -- so far as looking like a huge -- >> what we're learning is these big blockbusters that are so disaster oriented, they are not taking off, too similar, many of them. >> will be the biggest summer of all time but no room at the end, too many. charles: egypt and the jobs report next.

charles: we have two huge stories for you to follow this morning. pro morsi demonstrators, three

of them, were shot and killed. what do you make of this? >> i think it will be very tough. there are two large groups of people demonstrating right now. it will be very interesting to see what the obama administration does. charles: even if the three killings are an accurate report, i am astonished it is not more. they have millions of people protesting in the streets. there has been some restraint. >> the muslim brotherhood is something, it feels like the paper tiger. i want to talk about the jobs report. the headline number was pretty good. reaction by the market is pretty interesting. >> yes. why is that?

private sector create 200,000 jobs. it is not like 200 is a scary number for the private sector. charles: i do not think so either. the jobs report itself, does it give you confidence going into the second half of the year? >> i think we have to look at the market and see how they react. charles: if you want a job not in leisure and not in retail, you are still scratching your head and kind of looking around. thanks a lot guys. we are out of town. dagen is back. dagen: i am glad to be back. i will see you later. thank you so much, charles. in your business headlines, everybody, 11:00 a.m. in the east and 8:00 a.m. in the west. we are all over the jobs market.

looking stout last month. 195,000 jobs created last month. a peer play to save jobs, that decision to delay the employer mandate and obamacare. this move will surely be a job killer. plus, there is serious legal problems that the white house could face with this move. egypt on the edge. the european central bank the clearing it will keep interest rates at record lows for an extended period. our federal reserve will slow the money flow into the economy. all of that and back up to your top story this morning. that is jobs. we have a lot going on this hour of market now. ♪