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tv   Markets Now  FOX Business  July 5, 2013 11:00am-1:01pm EDT

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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. ♪
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dagen: i am glad to be back. kind of glad i am not seeing colin mcshane this morning. do not tell him i said that. the dow is way off of its highs for the day. nicole petallides can tell you all about it. nicole: good friday morning. the markets were closed yesterday. today we got an all-important monthly jobs report. you see more jobs added in what was expected. the underemployment number still continues to the upside. how will people interpret this number? we have seen some dramatic moves. gold has pulled back. 2.67%.
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the u.s. dollar, the currency wars between here and abroad have been intense. our last trading day, we went over the unchanged line 17 times. it is not unusual to have this market trying to figure out which way it will go. dagen: the unemployment number did not do that off. peter barnes is outside the white house with more. peter: that is right. the expectation was $165,000.
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the unemployment rate remaining unchanged. we did get the significant upward revisions for the preliminary numbers that came out in april and may. together, an additional 70,000 jobs. it is averaging 200,000 a month for the last six months. another thing is any impact of the sequester. it started budget cuts. it started march 1. so far it has not been a big impact. this month, one thing that analysts are looking at is 322,000 increase. people who work part-time for economic reasons. that said there's a wider measure of the health of the labor market up to, which includes the part-timers and
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discourage workers and others, up to 14.3% from 13.8% in may. the administration says some of these part-time workers are federal government workers on furlough. take a listen. >> we saw a big jump in the number of workers who said they were part-time, but wanted to work full-time. that resulted in federal employees on for lowe's. peter: also like to look at the labor force participation rate. the percentage of people who are eligible to work. you are working. that was up to, excuse me, percentage of people eligible to work rose to 63.5%. dagen: thank you so much for that. peter barnes at the white house. let's bring in senior economist at wells fargo.
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mark, if people look at this, the federal reserve will definitely start tapering off its bond buying program earlier than we expected. do you believe that we are reading too much into this? you could make that assumption based on one report? >> i think that the employment data has given an exaggerated sense to how much improvement has taken place in the economy. i think they are leading in the direction to beginning to taper at some point in 2013. i do not think that this changes the timetable. i think people just do not want to be too long going into the weekend. dagen: you are seeing treasury selloff today. again, that is what people are starting to think.
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if you are a buyer of treasuries at this point, you are hoping that they will just stand there and take them off hands. do you think that looking at these numbers, the economy is in a position where it can begin to function on its own? >> the fed seems to think if they pull the right lever, the growth will magically ran back up to the way it was before the financial crisis. that is not likely to happen. a lot of the growth was driven by the unsustainable use of debt. that simply will not happen in the very near future. they do not have all of the answers. we will have to deal with slow growth. at least slow by historical standards. dagen: we may have a white house
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making things worse. >> the white house did not talk about it. i think it is very clear. leisure and hospitality, home healthcare and temporary staffing has accounted for just over 50% of the jobs added during the first six months of this year. employers have to have their workforce in place. june is the month that the affordable care act will look at it. a lot of businesses have been hiring more workers in reducing the birth week for their workers below 30 hours a week.
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the influence ends in june. for the second half of the year, i would not be surprised to see hiring there. dagen: mark, great insight. thank you for being here. have a great weekend. >> let's stay on the affordable care act. coming up, the white house decision to delay the mandate for another year. could we see more hiring or will this kill even more jobs? let's talk about this. the reason to do it. the white house clearly thinks it will help job creation. >> what incentive would the people who were infected by the mandate have to hire people going forward since the
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uncertainty certainly get tossed forward. they have no better idea now then they will a year from now what their relationship will be to this law. dagen: a total misunderstanding about the way private business works. >> yes. i think more than any previous democratic administration, this one is utterly oblivious to the private sector. and finally smacked them in the face. we have been talking about this for months. about the difficulties that pass food restaurants were having. there was no mystery. there was no secret about that. finally, the administration wakes up and realizes this will not work. they decide to toss it into the future. dagen: this is only one of the
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issues. it is astonishing at how poorly this is. >> i think that the irs told them we simply are not ready. we simply do not have the software in place. we cannot create the software quickly enough. anyone who has read the details of the law and the mandates know that this is extremely complicated. dagen: let's stay on that. can you do that legally and if it is illegal, will anybody challenge it? >> what they have done is illegal. this has to begin at midnight december 31, 2013. they are simply waiting and saying we do not have to comply
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with that. this is kind of at peace with the obama administrations general tendency towards lawlessness. they are still handing out rules despite the fact that two appeals court said they do not have a for him. now, this. dagen: how do delay the employer mandate and how do not delay the other? >> i think probably what the republicans should do is immediately move in congress to delight the original mandate and a year and then work next year to try to waive some of these things.
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dagen: it is a 30 hour workweek. normally, a full-time employee is 35 hours. .com again, is one of the things they are grappling with.
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dagen: relief for some 100,000 commuters in the san francisco bay area. deciding to keep things where they are. ending this week's strike. threatening to take the iphone off the market. protests, these are the scenes from bolivia where they are upset with the united states for the ban on this guy's european airspace. talking about edward snowden. take a look at the oil market. $102.05 a barrel. we will be right back. ♪ ♪
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news. they are battling with two analyst upgrades. you have seen the stock of about 1.5%. sitting at roughly four dollars a share. the s&p did downgrade the debt rating. s&p sites that as negative overall. on the other hand, you have raymond james and deutsche bank. that is what you have. a little push and pull. dagen: thank you so much. commuters and san francisco breathing a sigh of relief, for now, at least. they will resume service at 3:00 o'clock pacific time. it left 400,000 commuters scrambling to find another way to work.
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the current labor contract now extends for one month while both parties continued negotiations. boston university looking to take a bite out of apple. asking a court to stop the sale of the iphone5, ipad and macbook air. they say that they infringe on a patent filed from one of the professors back in 1977. the school was asking for a cut of all profits. apple made on those devices, plus interest, of course. boston university has filed similar lawsuits with both amazon and samsung in the last year over the same patent. advertisers, listen to this story, advertisers are clearly trying to get in your head. they are said to broadcast
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advertisers directly into consumer's heads. they are using a tag eight called bone conduction technology with transmit sound into the inner ear. they tested or ten -- south american leaders have apologies from several american companies. disney may be apologizing to shareholders after the lone ranger has already, can we say it, bombed at the box office. ♪ [ male announcer] surprise -- you're having triplets.
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♪ dagen: south american leaders are demanding apologies from several european americans. the plane was thought that nsa leader edward snowden was on board. they demand an apology and
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explanation over the incident. the u.s. was not mentioned in that statement. bolivia's president has threatened to close the u.s. embassy and not country. bolivians have protested outside of the embassy pending protest slogans on the doors and burning american flags even. recent national security agencies snooping. more internet users are turning to alternative search engines to keep their identities private while they are on the internet. we have -- >> i have never been invited to the studio. dagen: you are welcome back anytime. >> anyone with a computer will inevitably search the web.
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as we now know, you do not really clear your slate. there are many search websites that are methodically tracking your usage. they share the information with advertisers. sometimes the government peeks in, too. there are some search engines that do offer privacy and they say they are seeing a spike in business, as you may imagine. some do not share the information. >> we always knew that people did not want to be tracked. the problem is, they really do not know what to do about it. now, people are hearing that they can switch and get great results and great privacy.
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>> some critics say that the price in use is temporary. doc doc go may handle 3 million users a day. google handles more than a billion every single day. dagen: you are never really protected. >> you would like to think you were, but you are not. every electronic keystroke is a footprint. >> five or ten years ago, i probably through my bank statements in the trash and expected them to be burned. now i shred them before i throw them in the trash. the same kind of thought process needs to go into cyberspace. >> shred your computers. [ laughter ] >> it is like when you use your cell phone. pretend like you are on a crowded elevator with every call. it is basically the same thing when you are on the internet.
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whatever you do on there, someone may eventually see it or track you buy it or something. you just have to do something. dagen: i will look at a pair of hideous leather shorts once and every webpage i go to i am still seeing the same advertisement from the same clothing company. >> that is why there are these sites now that say they do not track your usage and do not share that information with other websites. it may be worth looking into if you do not want to get ads for hot leather shorts all the time, which i do not get caught by the way. dagen: i do not believe that. [ laughter ] good to see you. thank you very much. some workers who are thinking about a new job, but are afraid
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dagen: we have a half hour left. here is what is coming out. the power struggle continues in egypt. protesting the ouster of mohammed morsi as president. nice job numbers. many folks who have a job are still afraid to look for something new and better. big banks set to report earnings next week. jpmorgan and wells fargo are among those. right now stocks now. lulu limited founder reducing his stake in the company. nicole: he recent reduced his stake in the company when the ceo said she was stepping down. that was scheduled. we are talking a payday. we are talking about the chairman. about 3.5 million shares.
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right now, you can see that the stock is down 2.3%. there will still be a huge stake. you want to hear that they are buying up more shares rather than giving them back. here is a look at lulu lemon over the last several months. you certainly see that selloff. the ceo said she was stepping down and prior to that the see-through pants which they had to fix. back to you. dagen: thank you very much. yes, they had to fix them, much to the dismay of men who take yoga. supporters have ousted egyptian president mohammed morsi. with more on the unrest there and what these events could mean for the global economy, we bring in rich absent from washington. >> good morning.
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they need help and it is unclear where they will get it. to stabilize the egyptian economy, potential lenders understand they are investing in a country that has spent over half of its hard country reserves sent 2011. food prices increased 8% last year. the currency has fallen more than 10% this year. the national debt is approaching the size of its national economic output. one analyst says that the change in leadership may help stabilize the economy and attract capital. >> the economy was not functioning at the basics of governing. i think the military has expressed in interest in installing a technocratic cabinet under the new interim
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president. i think that will help turn the economy around. lori: it is still unclear who will replace morsi. the protest to continue in egypt. especially among those backing the ousted president. dagen: thank you so much for that. joining us now with more is a lieutenant colonel. good to see you this morning. in the terms of the aid that u.s. said egypt, is it more critical than ever to continue to send that? >> yes, it will be. the islam is and the muslim brotherhood found out that memorizing the quran does not help you run a modern
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economy. now you will see an increase in terrorism in egypt. that does one immediate thing. it keeps detouring tourists. i think you will see turmoil ahead. the military stepped in trying to referee this. trying to get morsi to alter the government of two alternative views. the muslim government was intent. the army moved in. dagen, we should be celebrating.
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this is what we said we wanted. we want middle eastern muslims to reject radical islam. now, the obama administration is sort of scratching its warhead and other bodyyparts and wondering what to do. you support the people of egypt against islamic extremists, for god sake. dagen: should we be careful about pushing for elections? we always look at it like elections our democracy. they are part of democracy. there are other parts that need to come first, are there not? >> we are so obsessed with elections right now. let's have elections really fast. that got us -- what happened was
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we push for early elections. after six decades, the only organized group was the underground muslim brotherhood. we push for early elections. the muslim brotherhood is only people with a party machine. their interpretation is how we can turn egypt into an islamic dictatorship. elections are a tool of democracy. first, you need rule of law. you need guaranteed constitutional toleration of minorities. you also need a spirit of compromise. we could use a little bit more of that. all of that need to come first before we can hold truly free and fair elections.
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right now, dagen, we would be wise to get behind this transitional regime in egypt that is trying to get true democracy to the people in the future. dagen: great to see you. terrific insight. i hope you have a great weekend. >> thank you. dagen: workers thinking about getting new jobs, but they are afraid to look. jamie dimon set to report financial earnings next week. the lone ranger, a loser. bruno returns for the film. dennis diehl has more for you coming up. take a look at the treasury markets. look at the yield on the ten-year and how much it has gone up today. lugers there for sure without better than expected jobs
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♪ >> i am jo ling kent with your fox business brief.
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ready to discuss strengthening cyber security. the event in washington will mark the first gathering of u.s. china cyber security group. a small but growing number of closing retailers are bringing some production back to the u.s. 800,000 jobs have moved to foreign clothing factories. the dark knight returns number two comic book cover will be up for sale next month in dallas. the cover created by writer artist frank miller is expected to go for more than $500,000. that is the latest from the fox business network. giving you the power to prosper. ♪
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before despite the stronger than expected job numbers out, there
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is still a big fear among workers currently employed to go out there and look for a new job. jeff flock is in illinois with more. jeff: i am at a place called apex plastic. a lot of workers do not want to be first in, or lasting, first out. you have a lot of temporary workers. >> get rid of some of the uncertainty about obamacare and the taxes so i know exactly what is going to happen. not knowing what they are going to do next is making it a bit problem for us. jeff: this is the way people get back into the job market.
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you find employers hiring temporary. >> that is right. they need the workers. they are not quite ready to make the full-time commitment. jeff: take a look at the staffing stocks. you have people who have put temporary workers on and they have not four years. >> they do a great job. they do have that opportunity. as the uncertainty continues, they may leave them on as temporary employees for months and years. jeff: or clarity out there. something to make them a little more confident. we will continue to listen out here in places like this. dagen: that is right. thank you very much. jeff flock.
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staying on the jobs report. our next guest things there is still headwind coming from d.c. backer plate into the market for the second half of the year. we have a chief investment strategist with us now. >> it started when the chatter of the tapering of qe began in early may and continued on. obviously, today's jobless rates have pushed it a little bit further. there still is a very low number by historical standards. i am more worried about the government intervention and
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regulation and uncertainty with regard to the fiscal situation. dagen: writes. what about the obama administration deciding to delay the employer mandate on obamacare for at least one year? you can argue that we have already talked about both sides. >> unfortunately, exactly. the lack of pertinent to that decision. one that has moved from this year to probably the middle of next year. in the meantime, that was a source of concern for small businesses as they worried what to do. all of those things were delaying hiring decisions. as a consequence, though, we think this will at least bring some of the hiring back into the
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small business economy. just for that decision, it should be sometime in 2014. lou: they are not worried about treasury yields right now. what will make you worried? >> it is funny yoo say that. something with a handle on it that i think would be a little disconcerting. it becomes very competitive with what you can earn. i think those investors who finally began to wake in the notion that they invest -- now suddenly it is competition. i worry about that.
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we have a ways to go there yet. dagen: good to see you. thank you so much. we will see you soon. stocks now. earnings season just around the corner. alcoa kicks things off on monday. happy fourth of july to you. >> thank you. happy fourth of july to you. the big banks will be the potential market movers next week. most of them are coming in at one in the morning and one in the afternoon. the consensus really is that they will do better. people are expecting the industry overall to report better over the next quarter. i think that is what they will be looking at. we have yum brands on wednesday and family dollar. they are expected to be a little bit lower. maybe that will be a reflection on the consumer spending.
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we will see what happens going forward. i think that they will have a very mixed week next week. dagen: just talking about oil. one of these restaurant stocks have been hitting new all-time highs. a whole long list of them from cheesecake factory, texas roadhouse, i mean, would you be worried with oil where it is in gasoline surely going to go higher? >> earnings are backwards. once you see these numbers, everyone will be focusing on the fact that oil is as high as it is. dagen: thank you so much. have a great weekend. the masked man better put a bag over his head and go hide. disney, the mega- million-dollar movie, "the loan ranger" that it
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is a dud. dennis kneale tells us what he thinks this means for disney shareholders. ♪ can i get the smith contract, ease? thank you. that's three new paper shredders. [ boris ] put 'em on my spark card. [ garth ] boris' small business earns 2% cash back on every pchase every day. great businesses deserve unlimited rewards. read back the chicken's testimony, please. "buk, buk, bukka!" [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose 2% cash back or double miles on every purchase every day. told you i'd get half. what's in your walle
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♪ dagen: johnny depp is still smoking hot. he could not say this movie. disney disaster. what will happen to the prophets at the date movie studio because of the, well, "lone ranger." this is a bomb. dennis: this could be the most monumental flop of the entire summer.
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now comes this movie which was said to cost a quarter of a billion dollars to make. it brings in less than $10 million. "despicable me" bringing in $34 million. for disney, i mean, some people think that disney could be looking at a charge against earnings on par with "john carter." when they did the "john carter" movie, they did not have a movie offsetting that. you have to wonder what it
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means. "despicable me" was a sequel. this one is 80 years old. dagen: i cannot wait for "pacific rim." dennis: you were thinking about the guy and i was thinking about the big machines. dagen: exactly. thank you, dennis. dennis is not going anywhere. cheryl is coming onset. the jobs numbers, why we need to do better in this country. to money managers squaring off for the topics. markets now. more after this. ♪ n investor be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office.
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dennis: it is high noon. happy friday. i am dennis kneale. cheryl: i am cheryl casone. dennis: the summertime showdown. some of our top stock picks bring their place to the markets right now. cheryl: morsi supporters called out to the streets. what this means for the united states. dennis: the top spots to retire in the united states. it is top of the hour. stocks now and every 15 minutes. the dow is reviving a bit. nicole: it really is. about a half of 1% on both the s&p and the dow. the tech heavy nasdaq the best of the bunch.
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the jobs number came in better than expected. financials are doing well. bank of america, jpmorgan have been winners. i am also watching drug stocks doing well here today. we did dip into negative territory at one point today. the back half looking good for gold. cheryl: thank you very much. now to the latest on the jobs report. u.s. employers adding 195,000 jobs in the month of june. peter barnes is outside the white house with more on the numbers. peter: that is right. it was above expectations.
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the in employment -- the unemployment number remains the same. the white house is looking and points out that there may be some good news here about consumer spending going forward. so much of the economy is consumer driven. look at these sectors that have continued to add jobs in recent months. retailing up 77,000. construction of 13,000. the president chief economist saying that this, perhaps, bodes well for the health of the consumer going forward. take a listen. >> those industries have grown strongly over the last couple months. the economy has been healing
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from the very deep wounds that were caused by the recession back in 2008. peter: as far as how much progress needs to be made, the economic policy institute was out with a research note on wednesday, before today's jobs report. they pointed out we are still down 2.5 billion jobs from the peak and that had the economy stayed healthy, it would have created 6.1 million jobs. the shortfall is a .5 million jobs. that, as of wednesday, it would take until 2022 create that many jobs. cheryl: a lot of these jobs that are growing are lower paying jobs. peter barnes, thank you very much for that. dennis: you could be in for a
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big disappointment. chief economist joins us now. thank you for joining us, mike. what do you think of the number today? >> the number was good. it was above the 137 that we predicted last month. we have had the numbers in a row between 190 and 200,000. that is good momentum. when we look at the revisions, that leads us to believe that the economy has a little bit less common, then some people may be hoping. people that expect an immediate steady diet starting right now maybe a little disappointed in the next four months. dennis: now we get to the reverse wall street reaction to this idea.
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doesn't it make it harder for the fed to start pulling back and tapering on it loose money policies like it says it wants to do? >> yes. it would make it a little tougher. if you look at the previous runs of quantitative easing, they have not necessarily been going full bore. i think it is part of the reason why they started all of this talk about tapering. also, the fed, i think that was a little concerned in may. i think their concern was it was a little too low. dennis: a lot of people worrying about the quality of jobs.
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>> we certainly wanted growth. we are very constructive on our outlook for longer-term. there is concern about the underemployment problem. that will take even longer to address than the unemployment rate itself. the unemployment rate will probably fall very slowly. we think that the fed will be on hold for a rate hike well into 2015. dennis: okay. all right. thank you very much for that outlook. appreciate you being here. >> thank you. cheryl: protests in egypt continue. similar scenes in bolivia. that president is threatening to close the u.s. embassy. stories like these make investors wonder if international and emerging
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markets are still worth their money. we have a portfolio manager here with us. robert, let's start with you on this topic. you say that the key find a burgeoning market. how do you say, how should we stay in emerging markets when there is so much risk out there? >> you have to look at that outlook for the emerging markets. these are countries in some cases that are running account surpluses. they have a young and growing population right now. looking at long-term, this is where global growth is shifting.
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the vast majority of the growth is coming from these countries. if you have more than a two or three month per spec if, they are growing three times as fast, that is where you want to start shifting some of your money right now. cheryl: okay. i get it. that, you are on the other side of this. you say it is a risk. >> sure. i think when you look at egypt, you see they can have ripples throughout the marketplace. i think roberts points are very long-term. you need to be selective. i would not be a buyer in egypt today. i think investors need to have a very long-term view approach. they need to be very select this.
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you have a little bit more currency risk resolved. asset plays are something i would use as a very small part of my portfolio plan. you can cause a lot of volatility in your portfolio. cheryl: it is down about 21% in the last six months. there is extra pressure. let's go back to the u.s. here for a second. you like tech knowledge he. one of the top performing sectors, is there still room to get into technology or should we wait to see what happens with apple, samsung and microsoft? >> sure. i think when you look at technology, you see stuff like
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microsoft doing exceptionally well. cisco is another example. these are companies before that were not dividend growers that are now. i think they have the ability to grow their earnings and their dividend. i think there will be a lot of opportunity to grow worldwide. most importantly, the payout ratios are very low. cheryl: you guys agree on this. we will get to the showdown later on. robert, what elsdes technology? >> i think energies and financials are really interesting. it does not give us a whole lot of room here. there are a lot of sectors that are not trading at a discount right now. if you look at tech financials,
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those are areas where you can find good relative value. you can have the ability to increase dividend yield. some will still be searching for yield. cheryl: all right. gentlemen, we will leave it there for now. you guys are coming back in a little bit armed with your latest stocks picks. we will see you in a little bit. dennis: disney's quarter billion dollar disaster. the movie giant, where it went wrong. that is coming up. cheryl: is there money to be made in solar? charles payne says yes. he will be joining us on set. as we go to break, let's take a look at the energy sec there. we will be right back.
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cheryl: unemployment still at 7.6%. 195,000 jobs added. the dow is up 85 points. hewlett-packard leading the way. really quick come up i do want to show you something. we do have a decent day today. this is where, you see the volatile days. do not worry about it. let's bring in nicole petallides. nicole: i have a couple of names. two names that are on the move today. let's start off with charles swab. up about 3%. 3.1% at the moment. you do have a buy rating from the street. they see strength in the company in multiple areas. as a result, that is a one-year
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chart there, i have a year to date number for you, up 54% year to date. we have seen ford really bringing in those numbers, doing well with the small cars. the trucks, for example, really outpaced numbers. that stock hitting a 52 week high. the all-american truck and car maker doing really well. back to you..3 cheryl: thank you. ♪ dennis: time to make money with charles payne. talking about the oxymoron, solar profits. [ laughter ] charles: a chinese company. very intense discussions between the eu and china. they implemented some serious tariffs on solar panels. they are 88% under cost.
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that is why they took 80% are good chair in two years. zero. it is -- to your point, the profits are not there. they are moving in the right direction. dennis: this potential trade war. you are betting they come out unscathed. charles: i bet that they come out with a new bill.
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eventually, what they are talking is $0.65. they are making them out $0.48. cheryl: you have talked about some power on the show. we have talked about for solar. charles: we have leveled some pretty heavy terrorists as well. i think it could maybe be neutral. these chinese companies are really very serious. they have gotten some government help. you know, that is another reason these stocks took a hit. germany is sort of coming to the rescue here. dennis: i have never quite understood why our government gets terribly upset when chinese companies ship in these. we will raise the prices so that
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our own companies here do not get cheap energy. charles: will we really disrupt our biggest trading partner over solar panels? now they are having second thoughts. dennis: thank you very much. okay. we are moving on. the protests continue in the streets of egypt. we are live in cairo next. cheryl: we have the summertime showdown coming up. check out these pics from today's competitors. we are going to get a clean slate today for both of them. we will have two new stock picks each. don't miss it. ♪
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any last requests mr. baldwin? do you mind grabbing my phone and opening the capital one purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it a few taps, and...it's taken care of. this is pretty easy, and i see it works on hotels too. you bet. now if you like that, press the red button on top. ♪ how did he not see that coming? what's in your wallet?
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cheryl: egyptian troops opening fire. they protest the new regime. we have rich edson in washington covering this. we also have greg in cairo. >> hello. a lot of action right now. we are watching armored personnel. we have heard gunfire in the past couple hours. we have heard the wail of sirens. violence, violence once again in the heart of cairo leaving several people dead. their deposed president is now being held by the authorities. just a couple days ago, there was what some people are calling a military coup. today, people are fighting. they are angry.
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they are speaking out. we have heard as many as three people have been killed in clashes with authorities. we are seeing protests, rallies and clashes throughout cairo. in fact, all around egypt. one soldier was killed and they will probably get more angry here, at least the pro- morsi people. so far, at least right in here, it is quiet. this is where the anti-morsi people have been gathering. huge numbers in the past couple of days. it is those huge numbers, those huge protest that allow the military to stage what some people call a coup.
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one final note, again, about two years ago, 2011, we got a real taste of the violence here. that led to the toppling of thin egyptian president. we have been back here twice and we have seen elections. all of that has been wiped away. some people very happy seeing the economy go down here and seeing that islam is dominate the government. dennis: thank you very much. stay safe. cheryl: we go to rich edson in washington. rich: the economy is bad. it has gotten worse. now that it is over, there is some sense of optimism that the economy may improve.
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it has been a difficult year. food prices increased 8% last year. half the population lives on less than two dollars a day. the average egyptian family spent half of its food on -- spent half of its money on food. the change in regime will likely help the economy. >> i think that there is a sense that that will help turn the economy around. people who know what they are doing, people who can move the economy forward. retention may be able to help the tourist economy which is part of egypt gdp. rich: it is still unclear who will replace morsi. in the meantime, the demonstrations continue at this those backing the ousted
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president -- cheryl: thank you. dennis: a new startup. cheryl: it is friday. we have a summertime showdown coming up. >> this is matt mccormick. i look forward to taking on robert luna. i am betting a pint of ice cream that i will win. >> this is robert luna. i will buy that a if he beats me on the fox business summertime showdown. ♪
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cheryl: this week's edition of the summertime showdown coming up. putting you on top in the next few months. disney's big-money bust, the return of "the lone ranger" could not bring box office winnings. we will sue a means for shareholders. and resolution for bay area commuters. authorities have decided to leave the current deal for workers in place. good news for 400,000 depending on the transit service. stocks now every 15 minutes. nicole a candidate restaurant stocks and what they are doing. nicole: we are. the casual dining type stocks is they are hitting all-time high
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after all time high repeatedly breaking out beyond their own numbers. let's take a look at names that may be familiar too many at home including chuy holdings, cheesecake factory, texas roadhouse, jack-in-the-box, buffalo wild wings. all doing exceptionally well. it has been viewed very favorably overall. don't forget, "noodles" is in the casual dining price at the high-end about $18 approaching $50 in just one week. it shows you it is flying high. dennis: thank you very much. i don't get the name. it has been dubbed the angie's list for parents. kidwx is an online forum for moms and dads to post reviews
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and read reviews on service providers and key kid friendly fields. the cofounders turning down the offers to keep it close to home. joining us from washington, linda on the left and jamie finch on the right. give us a quick overview of the site you have created. >> kidwx was inspired i jamie and i and basically -- speak of our relationship neighbors and friends and mothers. both working parents, we found it externally difficult to find resources for our children. we were wasting lots of money and lots of time. streamline things and provide a central place for parents to go and find everything they needed in one place. dennis: i noticed you allow the members who, on and can post
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comments anonymously. i keep thinking i would rather get a babysitter sent to me by a person i know then based on comments anonymous at an online sites. what do you say? >> all members have to join. we have a variety of memberships, so parents have to adhere to the strict terms of service we have and so we want to provide a credible website for parents to go to and feel confident the reviews are true and parents have used the service. >> just because the reviews don't post the name of the reviewer does not mean the reviewers were not vetted by kidwx. we have a credible terms of service and substantiating our service. you cannot just go on and post without providing or information first and foremost.
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dennis: if i own a nursery and apparent trashes my nursery and says it is unsafe and i come to you wanting some sort of explanation, do you tell me the identity of the poster? i'am i allowed a counter, and? >> they will have an option three spew the ma to respond to negative review. correct the situation. dennis: angie's list makes a big to does not take any advertising or allow any post where a guy who provides a business goesson anonymously posting saying his business is great, how do you stop that and do you take advertising? >> we do not take any advertising money. something we established very early on, we felt it would be a conflict of interest if we were double dipping in advertising from companies and providing
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unfiltered, unbiased reviews. so we definitely do not have any advertising. dennis: good luck with the new site. i bet you parents really love it. thanks a lot, guys. >> thank you. dennis: box office blunder, "the lone ranger" a big flop where disney went wrong coming up in my media minute. cheryl: fox business "sumertime showdown" coming up next. robert luna takes on matt mccormick for stockpicking supremacy. friday night, buddy.
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you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. >> this is your fox business brief. lululemon is under pressure. look introduce his take in the yoga wear retailer. the largest yoga holder. amazon.com has reportedly been cutting back on books, deals for the small press books according to "the new york times" amazon has been lowering discounts or eliminating them entirely. but writers and publishers say
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is affecting sales and some cases pricing them out of the market. paula deen has fired her agent of more than a decade. instrumental lending her the food network show and supplement endorsements that have largely crumbled in the wake of the admission she used racial slurs in the past. that is the latest from the fox business network giving you the power to prosper.
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cheryl: get ready for "the showdown." every friday we are paid into stock pickers against each other with two plays each. we will bring them back to see who is picked the mac pick performed best. matt mccormick taking on robert luna.
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matt, you are up 1st, picking intel. why? >> it has very little debt, little dividend, i think everyone views them only as a chip company in the deal they just did with samsung on the tablet side will be a catalyst for the stock, it looks good technically. you're looking at a company that really has i think low expectations and a lot of momentum and will be a strong player. cheryl: intel up 3% down year-over-year, so we can take two sides on that one. robert, your pick lincoln national. >> full disclosure, i'm a little upset. we had to submit these picks a couple of days ago and the stock has popped 5% this morning. cheryl: you are saying you have already won. >>) lincoln national is hitting
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on all cylinders right now. the stock is very cheap trading seven times next year's earnings, 40% discount to book which historically is very cheap for this stock. technically it has broken out of a three-week base. i am really projecting in the next 12 months from 20 to 25% upside. what matters is the next 30 days. cheryl: it was up 73% and that is factoring in your little gain. this is getting tough. matt, another big cap, procter and gamble. a safety play? >> intel for my upside and proctor for my downside. the catalyst is the new and improved ceo coming out with earnings on august 1, under pressure to unlock shareholder value. i do not know if he will do anything but there's a high
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degree, a chance he could try to do something. some type to move the stock higher. in the meantime a very high dividend yield of three percentage, it is the quintessential consumer staple stock and i think it is from cincinnati i love the stock. cheryl: 40% of revenue comes from walmart. american campus, they build student housing. >> a little contrarian play. down 16% in the last two and a half months lumped in where they see interest rates rising so they're worried about it, but in particular you really have to break those down if you're looking at office space, long-term leases those i am concerned about but student housing tends to be very short term leases. 12 months, six month leases. they can increase the rent.
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the largest owner of student housing right now, 90 to 98% occupancy across the board, i get i like the fact it has pulled back right now. lastly, gold selling off, other precious metals sell off. the move into hard tangible assets, this will be one of the benefactors of that. cheryl: you are going with the larger name, upside down safety plays in a way, and robert going for the smaller, small cap versus large cap's let me ask you this, what d you think aboua large cap name like intel or procter & gamble? >> we own intel, all the points he brought up are good points, great dividend yield, we like that stock going forward, a significant underperformer for the last decade. procter & gamble is a name we
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sold. the valuation got a little stretched for us, a name we are staying away. cheryl: what do you say about the smaller names? interesting pick, would you go for something like that? >> and understand robert's logic. i'm concerned in the rise in rates. if they continue to hit the sector, you need to be very selective. i think it is something that people need to be very selective in this environment, more choppiness overtime and maybe the rates are a great play. it could pop up especially the metrics he is talking about, but i think mine are better. cheryl: of course. you have procter & gamble. to all of our viewers at home,
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tweet me with who you think will come out on top. thank you guys for joining us. we will see you in a month to crown the winter. arizona tocco versus ice cream, this will be fun. thanks. let's check in on the competitors from week one who have reached the halfway point. oliver in the lead with two weeks to go. next week david will duke it out with scott martin. dennis: does after a quarter until. we have doreen, thank you for being with us. why can't the dow make up its mind? >> i think you're going to have a whole summer of that. today we have light volume, obviously an abbreviated week, as i think it is a little overreaction to the downside coming in pretty dramatically we
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saw the u.s. treasury go up. now we're kind of stabilizing where we think we should be due to the good job numbers we have this morning. dennis: i will take that and run with it, thank you very much. in today's media minute, this just in, disney's "the lone ranger" could be the most monumental movie flop of the summer. he first showed up on radio in 1933 reviving him 80 years later cost disney upwards of a quarter of a billion dollars. "the lone ranger" only $9 billion paling into comparison to the $34 million haul then by "despicable me 2" the same day. that film reportedly cost $75 million to make. for disney, "the lone ranger" could force a charge against earnings may be on par with "shawn carter." one of the biggest in film history.
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tnt and usa network's show the top spot for most-watched cable channel second quarter but andy was the big winner. "dr. dynasty" the number one cable series, 16 million viewers, pushing annie to number six overall and top five. duck calls. cheryl: "dr. dynasty" is the overall show? dennis: i bet their salaries are going up. cheryl: the latest on the end of the transit strike in the bay area. dennis: multiple cities with the best place to retire. but which ones? and we have a look at the winners on the nasdaq. ♪
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dennis: breaking news, this just in for the department of better late than never. the tense situation in egypt catching the eyes of wall street. ratings agency downgrading egypt two b. the country uncertain political stability and we continue to monitor the protest in egypt and we will bring you the very latest as we get it. cheryl: time for your "west coast minute." simi valley, california, was the scene of a horrific fireworks accident. 10,000 spectators were sitting in their seats with a platform of fireworks tipped over unexpectedly went off shooting into the crowd injuring 28 people.
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officials are investigating what caused the destination. some good news for bart riders. fans of the up and running as of 3:00 p.m. pacific time. they greet and essentially current contract after mediators intervened. 30,000 writers will have service. oregon is moving a step closer to offering free college tuition. a bill on the governor's desk one of the first of its kind allowing students to study for free but sonic contract with the state working like a credit card. they would have 24 years to pay back their loans in the program going to effect the earliest 2015. that is your "west coast minute." dennis: that is just kind of bizarre. there is no such thing as a fre% college education, the taxpayers will be paying for that free education and the federal
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government has a trillion dollars liability. talking with the best retirement community, but we want to look at investing in retirement. ability track out with the top 15 retirement communities for real estate investing. no surprise six communities in florida made the list of best places for real estate community retirement investing. seal beach, california. sun city, arizona. hot springs village, arkansas. and east hamptons, new york. among others. cheryl: and all of the on housing prices going up, wonder what that will do for terry's. --dash retirees. cheryl: all right, time to retire. not for us, we'll be working the rest of the afternoon. the two of us throughout the day on the fox business network as
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we go to the break another hour coming up. wild moves for stock after the better-than-expected june jobs report. dennis: good news for the economy, bad news for gold. gold's precipitous drop and where he sees the bottom. cheryl: and what is happening in egypt. turning violet as the muslim brotherhood saying three supporters were shot. a live report from cairo coming up in a few minutes. bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ]
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now where's the snooze button?
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>> wall street traders like to say that the markets know everything. you watch the dow today and it is as if they know nothing. cheryl: we have three hours to go. i will see all of you back at 3:00 p.m. eastern time.
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dennis kneale will be back at 4:00 p.m. eastern time. lori: a busy jobs friday. >> i am adam shapiro. good, but not free. that is the june jobs report. wild swings for stocks on that news. jumping triple digits on that news. scott is coming up with the jobs number he is most focused on. lauren: sending precious metals tanking. old laws have come on top of the 25% drop already this year. adam: headlines from egypt. there are now reports that three protesters are

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