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 dead.

lauren: time for stocks as we do every 15 minutes. the dow is up now. up big-time. our traders even there? how is the volume? the 20 plenty of people that showed up. this is the day of the monthly jobs report. we do have fairly decent volume for this type of a holiday. it is sandwiched between a fourth of july holiday. the dow jones industrials are up 92 points now. they dipped into negative territory briefly. we will clock in a winning week. we have not had two back-to-back winning weeks.

we have had a couple of reasons sold off. it will really be a nice standing to have two weeks back-to-back. ingersoll brand, one of the best performers on the s&p 500. petroleum, that is among the worst. back to you. lauren: thank you, nicole. let's also get a check at the bond market. the ten year treasury yield hitting the highest since 2011. yields have increased by more than a full percentage point since early may. it will reduce demand for bonds. thus sending yields higher.

adam: what did you think about jobs report? it was good, not great. positive news can be found in the may revisions with more non-foreign private payrolls and less manufacturing jobs lost. it is good to see you again, scott. can you explain to me why we saw that they drop on the dow? what is going on? >> i think that volume is light. what was bad was good. in other words, bad economic data means the fed will probably not taper. i think right now the market is

battling. the number, as you mentioned, was good, not great. i think the market is going back and forth between a really good employment number. adam: you think, a lot of people called both of us are over this word paper. you do not think they will do anything regardless of numbers. >> that has been my view. when you have falling inflation and you have an economy that is growing, those are not the types of numbers right thing the fed

would take their foot off the accelerator. certainly, they will paper. do they do it in the fall or do they do it at the first or second meeting in 2014? >> are we seeing an inappropriate rise on the ten year treasury? >> i am and equity guy. i think that the treasury selloff is over done here. in my mind, treasuries are over done here. i think that the economic fundamentals do not warrant a total normalization of rates. who knows, this european process may come to bite us in the near term. lauren: no dow about it, you are bullish.

>> i think that topol of the games are are in for this year. i think we will probably in a little bit higher. i think you want to be in the cyclical sectors. as you mentioned, that is 15, 16, 17% higher than where we are right now. we want to get our clients invested in this market expecting that kind of return over the next 18 months. adam: be well. >> thank you. lauren: tensions high in egypt. egypt has closed off its borders with the gaza strip and announced a state of emergency.

the managing director at chicago-based -- joins us now. reportedly having normal operations. that is not enough to call traders where you are at the cme. egypt does not produce that much oil. they do control. if it is constructive, the oil tankers have to go around the southern tip of africa. time is money. how much of a concern is out for you? we have really been watching some of the spreads. as an example, the september, october spread which has been around 22-$0.30 is up to $1.19.

it has more than quadrupled. i think the moment of their shows that is tremendous demand. there is some type of anticipation between either demand or disruption. lauren: i do not want to let you go without asking you about medals completely tanking after this mornings jobs report. what do you make of that? >> i think it is extremely relevant to the dollar. it is really important in the market right now. the divergence between one presses metal, we have seen a lot of allocations come out of

one and into another. they have really missed the move in crude oil. i think that is really the story we are looking at here. well within the last four weeks. lauren: thank you so much. have a great holiday weekend. >> thank you. adam: samsung is warning second quarter earnings will miss expectations. analysts are already making comparisons to apple saying the company is facing saturated markets and shrinking margins. samsung shares -- the voter is coming up and twooweeks.

it is warning of substantial downside risks. americans love ballpark food and that has one company looking to cash in. reportedly looking to return to the market in an ipo. lauren: egyptian troops opening fire as pro- morsi protesters take to the street. a live report on the ground from cairo coming up. adam: should the united states cut financial aid? the debate that is surfacing in washington. we will be right back to answer that question. ♪

lauren: revolution in egypt. mohammed morsi supporters take to the street. at least three members have been killed by the egyptian army. thank you for being with us connor. he is in cairo.

>> we have seen some dramatic changes. we have seen a lot of military vehicles start to surround the area. we are hearing that members of the muslim brotherhood are now marching towards this square. we are also hearing reports of clashes between the egyptian military. at least three people have been killed. hundreds more have been injured. we are also hearing from the head of the muslim brotherhood. the muslim brotherhood would not welcome any concessions unless morsi is reinstated. otherwise he is saying they will continue to fight.

even going as far as to say that they will lay down their lives for president morsi. the situation is beginning to intensify. the situation is intensifying. it appears it may be going from very bad to very worst here in the near future. lauren: thank you very much. adam: that challenges the country's new government will face. rich: good afternoon. for now, continued protests. for some, continued optimism. estimate the project slowed. debt to gdp has surged beyond

90%. the average person now spend nearly half of its income on food. potential lenders are watching the economy and the leadership transition. it is the keystone to the region. >> when everyone wants egypt to succeed. everyone wants the economy to grow. i think other countries will be likely to want to see a transition to proper elections. rich: still unclear who will replace morsi in the long term. back to you. lauren: a lot riding on this.

thank you very much, sir. egypt's gdp is better than ours. as we do every 15 minutes, let check the markets. nicole petallides on the floor of the new york stock exchange. nicole: a name that we have spoke so closely on. it continues to soar and continues to gain in popularity. this is on news of some new orders over in hong kong. doubling the number of electric cars on the roads there in hong kong. this is a time for them to be celebrating. it is close to $70,000. the other vehicle that they have is $109,000. it continues to gain in popularity.

also, the consumer report, today the stock is up. back to you. adam: my brother is getting a tesla. he will be happy to hear that. they are beautiful cars. it is a good thing. that is a martha stewart tagline. we are not sure if that is what she is thinking about. lauren: when dr. oz sneezes, does twitter catch a cold? scammers get very creative. adam: stocks are climbing. we will search for a bottom. next. ♪

♪ adam: that all prices are tanking on the back of today's jobs report. that is more bad news for gold bugs. where do you see a bottom? we have vice president at markets here and now. we were having a discussion as we were getting ready to introduce you. >> it is really an awful lot. the cost of electricity in south africa is sky high. they were having a problem. adam: let's pull up gold. it falls below then you have to stop mining it.

>> there are a lot of producers that may stop mining. recently, we have had a move in open interest. it was 395,000 just not long ago. down from 492,000 last october when money left and went to stocks. now it is back up to 415,000. even today, shanghai opened up a nice session in futures to coincide with ours. they traded 150,000 contracts. adam: you are going down the road that gold will come back. >> yes. i think gold will eventually catch up with inflation. right now, there is no inflation.

adam: the open interest numbers that you were just siding tell me this is where you would want to get in. >> well, just last week people were asking themselves did they missed opportunity below 1200? we did get as low as 1179. it has also been the low for open interest. adam: okay. you actually see a potential for $1000 an ounce. >> the price of gold is a barometer of the well-being of the world. for the most part, now, gold has not been so important because of the strength in the stock markets. a lot of the people bought gold

etf and they were latecomers. it seems that they are pretty well out of it. adam: would you say son, daughter, gold get back in? >> at least 5% of your portfolio. you have car insurance and you hope you never have used it. adam: even if we were to flirt with that $7000 bottom, it could not stay there. >> it may well quickly because of the cost of production. adam: we do not have time right now to discuss silver. it would be great to bring you

back and talk about that. >> look at the chinese. last night was the first night they had a nice session. trading 150,000 contracts of gold. adam: thank you very much. all the best to you. lauren: unbelievable. not quite a good thing. martha stewart is taking a pay cut of $200,000. both are base pay and extended policy have been trimmed. might i add, when you are near 72 years old, you want the wardrobe and duty allowances. shares of her company are down nearly 30% in the last year

alone. that was quite a chart. adam: i think a lot of people would take that. we will get the view from the corner office. we will have a glimpse at how the executive level unemployment picture is actually shaping up. lauren: do gold -- the case for physical gold. michael haynes. adam: take a look at who is up and who is down on the dow. ♪ announcer: where can an investor

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adam: we're watching the news from cairo. a live look at tahrir square where hundreds of islamist supporters backing former president mohammed morsi, are marching on the banks of the nile in central cairo, marching to the national broadcasting television center. we'll stay on this for you here at fox business network. lauren: gone from bad to worse. time now for as we do every 15 minutes, 15 minutes already, let's go to the floor of the nyse with nicole petallides. look act markets an financials? >> names like jpmorgan and bank of america continue to do well. options can give you indication how strong the market is or is not. for example when we dipped into negative territory earlier today the banks actually held green arrows. they are doing pretty well today, considering back and forth we had recently. jpmorgan is up 1.7%. the other dow component, bank of america is holding on nicely. wells fargo, a couple banks are

reporting quarterly numbers next week. jpmorgan, wells fargo are among the financials that will kick it off. alcoa will be the dow component kicking it off but in the financial industry jpmorgan will certainly be highlighted next week. you're seeing names doing well. among the best performers for the week as we're clocking in a win being week on wall street overall for the dow jones industrials. back to you. adam: nicole, thank you very much. despite stronger than expected job numbers out this morning there are still fear among workers actively employed to seek out new jobs. jeff flock is in bensonville, illinois. jeff what is going on? >> you're watching here pieces of automobiles. that will be the piece of a hand rest or arm rest on a door made at apex plastics. a lack of faith from the job market, pat tolan express, temporary firm, makes people not want to leave the current job, right? that is one of the canaries in

the coal mine, correct? >> that's correct. the recovery has been tepid. i think there is a sense a bird in the hand is worth two in the bush. if you have a current opportunity you stay there until things i will prove a little bit and give you more empowered feeling to test around. >> apex plastics, that is pete's company, you use temporary workers now, partly because you're not confident enough in this recovery? >> well, that's true. we have a lot of temporaries working for us that have been with us several years but we're just not quite ready to bring them on full-time on our payroll. >> that really says something. if we look at some of the machines and stuff you do here. that is a lot of automotive. that has come back pretty strong. >> it has come back real strong over the last few years, especially some of the transplant markets, toyota, mitsubishi, some of the companies that came to our country o build cars.

>> last word real quick, pat. what do you see going forward? what is hot right now? >> we're seeing great demand in the c and c machinists and welders in logistic type positions and i.t. area is getting red hot at this point. >> we'll talk with pat next hour what he is doing. he is trying to get people to think about leaving their job. people as he said at the outset don't really want to. searching social media for candidates, i'm not looking for a job right now but if you will give me a good offer, i williesen. >> we'll be watching next hour, jeff. lauren. lauren: my next guest says we're facing a reality of slow jobs growth and ceos are still holding back on hiring. so joining me now, the ceo of korn/ferry international, a leading executive search firm. so you have the view from the top up here and the simple but most important question is, are companies hiring?

>> no, it is ceos, doesn't make any difference what you're in, there is a fight for growth and relevancy today. you just don't have this conspicuous consumer. everybody is trying to drive the front line. people are investing in software to does intermediate jobs. lauren: companies are not really hiring. we're running on a treadmill in the same place. a meet owe kerr jobs report after mediocre jobs report. how long do you expect the mediocrity to last. >> it will continue for a while. lauren: what is a while. >> it could continue five years. this is the new normal. last 10, 15 years was artificial. it cost pumped up by incredibly low interest rates. i think it will continue. lauren: you're a public company. how do you maintain your profits in a slow growth environment when companies are not hiring at the pace you would like them to? >> for any ceo there is really three or four levers. you consolidate.

you innovate, or you look to the east. you try to export america. lauren: okay. >> and grow the pie. lauren: yeah, but we've seen some struggle with that recently. china slowing down. europe's slowing down. we have the possibility of a fed taper maybe in september. those are three negatives i threw at you. what are you most concerned about out of those three if. >> you know, look, long-term, two thirds of the middle class will be in asia. america still needs to export america, for sure. lauren: okay. a lot of clothing manufacturers are pulling manufacturing back here. it is cheaper. quality is better. they get the products out faster. we lost over the past 23 years, 800,000 jobs in clothing factory production, overseas. >> right. lauren: we're bringing them back slowly. >> right. lauren: what other industries could do you see coming back here and being sources of growth domestically? >> i think it will be a lot. i lived in china.

the cost of living turnover is 30%. across the board, look at auto manufacturers. look at results. that is really good news for america. lauren: yet the manufacturing sector in the june jobs report shed 6,000 jobs. it wasn't in auto manufacturing. it was in metals and mining sector which makes sense when you see tumbling commodities today. i want to end on a positive note. i think i can find it if you share with us korn/ferry's survey on companies that intend to hire. is there a positive here? there is. >> very positive. and it is substantiallily. lauren: okay. >> when we poll comppnies. about 60% of the ceos are looking to hire over the next 12 months, which is good. lauren: we'll end it there on a summer friday. thank you, gary. thanks for being with us. adam: investors holding their breath for a twitter ipo you will want to listen to hear about this first. a battle between twitter bosses and dr. oz flight. lauren: a twitter-flight.

latest for the solar plane looking to travel across all the way across the u.s. a look at 10 and 30-year treasurys right now. the 10-year at 2.72%. the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly y airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet?

>> i'm jo ling kent with your fox business brief. stocks are in rally mode today following a strong monthly jobs report. right now the dow is up about 90

points. airlines continue to find new ways to raise revenue through in-air services and fees as ticket prices account for only 70% of revenue that is down from 84% back in 2000. fees tacked on checked luggage and reservation change alone rose a record $6.1 billion last year. india's president has approved an estimated $23 billion food subsidy program. the food security program is aimed providing cheap grain to two thirds of the nation's population. critics say the program is a costly political gimmick ahead of next year's national election. the order must be ratified by the country's parliament in six months or it will lapse. that's the latest from the fox business network, giving you the power to prosper.

adam: news out of egypt continues to indicate trouble. look at these live pictures from

tahrir square in cairo. this as we learn that bp is withdrawing nonessential expatriates and contractors from egypt. this according to "dow jones newswires." there is no word on the number of people who will be evacuated out of egypt but for context back in january of 2011, bp evacuated 400 employees, their families and contractors. tensions are rising rapidly in cairo. mass protests have turned violent. supporters of ousted egypt unshun president mohammed morsi are clashing with the egyptian military. the associated press reports that troops opened fire on pro-morsi supporters the muslim brotherhood said three of those supporters were shot dead. lauren: wow! like the old saying goes. where there's a will, there's a way. since spammers find it hard to target you with e-mails they have moved on to using social media and celebrities to get your attention. with more on how spammers are

working virtual communities to push their products is dennis kneale. hi, dennis. >> this time the beloved dr. oz, talk show host, telling people how to stay healthy has been the latest victim of this twitter spamming this is a little different from the other cases where you had a famous person or famous brand like burger king or jeep get hacked with their actual twitter account. in this case it looks spammers were surfing on twitter, followers of dr. mehmet oz on twitter and facebook. the difference when a can instantly respond, go into the very same medium and get ut the truth. this is what he did. dr. oz went on facebook an three million likes and fans. he puts out a statement and goes on twitter with same statement and go to his oz watch and turn in any spam they get from guys saying oz does endorse a diet product when indeed he doesn't. they put out a same, basically,

it ain't me, babe. i don't endorse anything. if you see that with anything attached to his name or likeness it ain't him. remember before he was able to get the word out to defend himself and the producer worked on it, it was retreated 200, 300 times by other followers, bethany frankel, the reality star came out and kind of sniped at oz for endorsing a diet she doesn't go out for diets. and had to do a skin back, owe, i heart dr. oz. we knew it was spam. it was a little embarrassing. overall shows you what happens when twitter, came barely yesterday and out of nowhere becomes a major medium for major breaking news and didn't include enough security to stop stuff like this from happening. lauren: consumers need to be aware. are the products being touted legit? and then investors, potential investors need to be well -- >> would you buy stock in a new company that has, you know, 700 million followers and yet can't keep the back door locked

i don't know. this makes you wonder. we had jeep get hacked. ap send the market down and back up again by $150 billion in value when it got hacked, its twitter account. every new technology comes along. spammers and hackers they find new ways to exploit it. adam: wouldn't a investor take that question, they can't keep the back door locked, oz himself, how many, three million followers? >> facebook is two million, 2.9 million. there is something to be said going for audience and reach. lauren: i wonder when we reach the point it is just like enough of the social media? >> enough? i'm thinking never. i'm thinking never. always be the next big thing. lauren: these stories keep coming up. thank you, dennis. adam: time to check in with markets. see how we're doing from the floor of the new york stock exchange. doreen mogavero is on the floor. doreen, we're watching the dow, everyone is happy. we're up 91 points. can we hold this going into earnings season next week? we'll start to get with reports. >> we start monday with alcoa as

always, right? 1625 is a pretty critical resistance level. we would like to see it break through. it hit a few times up against it. the next time i would like to see it a little bit stronger when it goes through. we have very light volume here. there is not a lot you can put on this action i don't really think. adam: doreen, we appreciate your words of wisdom from the floor. rarely we get to talk about the volume all. that is really key. the volume is light. maybe not as strong as we would like it. >> definitely not as strong as we like it. very quiet friday. i almost said thanksgiving. the day after 4th of july so. adam: feels like the day after christmas. lauren: too many hotdogs. >> happy halloween. yeah, yeah. adam: have a great day. lauren: thanks, doreen. solar impulse, a solar powered plane making an iconic trip across the united states will soon be homeward bound. the plane is set to leave washington as it wraps up the cross-country journey, it will

land here in new york city. it weighs the size after small car and is powered by a small scooter. it is set a step forward for use of green energy for transportation. it is a trial run for a 2015 trip around the world in up graded version of the plane. adam: exits are located in the back of the plane and along the way. i always wanted to do that. teach that in flight attendant school. two fingers as opposed to one finger salute. lauren: don't make me laugh because i have to read this. as gold futures tank, now is the time to buy physical gold. the case for keeping bars in your back pocket. adam: how about keeping a bar? stocked with jack daniels. ♪ [ indistinct shouting ]

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adam: stock alert for you. check out what is happening with ford. the automaker's stock hit a new 52-week high today, $16.74 a share. that is the highest level since january 2011 when ford's stock hit its high point under ceo alan molal hely. that was over $18 a share. that comes after the better than expected june auto sales. ford sales rose 13% year-over-year. the best sales for a month since 2006. lauren: gold has taken a beating lately in a huge market selloff. our next guest is the president of a huge exchange. he says it is time to look at

physical gold as in coins and bars. we have ceo, michael haines. thanks for joining us from california. how are you, sir? >> thanks, lauren. great to see you. lauren: you say people are buying gold and buying it big-time. in fact three of your top 10 selling days were all last week? >> that's right. the ebay, the ebay.com, okay, 60, 70 billion-dollar market cap company formed a special relationship for the@mex bullion center on ebay. on that particular site -- apmex. we had the three top 10 selling days ever. we only sell physical bullion. clearly there is a lot of interest in the physical product as opposed to what is happening in the paper products. lauren: why is that? you provide regular people not immediately connected to the stock market and other markets an opportunity to get into the gold trade. why are they interested right

now? we've been saying all show gold is tanking, down 25% this year, not including today's 4% drop? >> a lot has to do with time frame of your investment. if you're day trading there's a certain time frame or maybe this week or the next three or four months. people who buy physical are particularly interested in the longer term, three to five years. and they look at the u.s. debt, the debt-to-gdp ratio in the united states. they look at the craziness around the world and they're looking for a hedge against the more correlated assets of stocks and bond. they're looking for the non-correlated asset, the one that will perform when these other ones tend not to perform this is long-term asset. with prices falling these people are saying gold's on sale. silver is on sale. and ap-- apmex bullion center provide as way to make those sales easy year i am trying to

find the bottom for gold. i had george gero on earlier. he said if you didn't buy gold at 1179 last week you might have hissed the bottom. your thoughts. >> i know george well and he is a fabulous gentleman. i think the question for buyers today is not really about to i get in 1150, 1250, 1350, whatever, the question is what do you have in your portfolio that will provide a balance for the long term? we have people selling out of the gold etf and buying into physical because they want that physical possession for that longer term three to five years. so what's going to happen today or tomorrow i can't tell you but i can tell you if you want to have balance in the portfolio, gold provide one of those foundational elements. certainly people since 2000 have enjoyed having that as we went through the 2008 and 2009 problems. now we're at a level, in those preareas and it's, gold on sale

for many of these physical buyers. lauren: michael haines, thank you so much. enjoy your weekend. >> thank you. >> gold on sale sound good to a lot of people but coming up, new wild swings for stocks. raymond james chief strategist jeff saut says get used to those swings. find out how he is playing the volatile markets next. tracy byrnes and ashley webster will take us through the next hour of "markets now. this you can't miss. i want to make things more secure.

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tracy: welcome back. i'm tracy byrnes. ashely: i'm ashley webster. the holiday week closing out with a bang on wall street. the dow rising up nearly 100 points, up 96 points at this stage, heading for its second straight winning week, earnings, season, oh, yeah, that is almost here and that could keep investors on edge. raymond james jeff saut will calm in this volatile market and he is coming up.

tracy: american businesses building more jobs than last month and thousands more than april or may. how will that affect the federal reserve's plans to start tapering stimulus? we'll take a look ahead. ashely: whatever happened to tom perez. three months since president obama nominated him as labor secretary. he has not been cleared to actually take the job. "the wall street journal"'s mary kissell will explain. his controversial legal tactics are alive and well at the white house. tracy: apparently not a needed job as our producer pointed out. ashely: it has been for months. tracy: leave it open. nicole petallides on the floor of the new york stock exchange, a good friday for four people that came in today, right, nicole. >> more than you actually think. they actually showed up because it is all important jobs day where we get in the monthly employment numbers. they came in a little better than expected. at least for now the overall picture. when you delve into it is not that great but enough to give this market a boost today.

up 95 points on the dow jones industrials. we're clocking in a winning week. we have two back-to-back up weeks so that's nice for the bulls. you have testing of the s&p 500, 50 day moving average. also a nice sign of the bulls if you can close above that level. financial are leading the way. jpmorgan and bank of america are doing nicely. the vix, the fear index, no fear here. it's pulled back. we're watching that as well. we also want to take a look quickly here at dell. dell has been such a key name we followed. we know there has been a battle for dell. today, there is news there is filing with the securities & exchange commission warning shareholders of quote, substantial downside risk, end quote, to the stock if the buyout deal from michael dell and silver lake is rejected. so obviously that's in favor of michael dell and his gang. we'll see what happens. obviously that is story we followed closely for many months. tracy: thank you, nicole. we'll see you in 15 minutes.

bonds tanked on the jobs report earlier this morning, sending the 10-year treasury yield to the highest level since 2010. right now, it is up 20 basis points at 2.71%. that is your 10-year. look at your 30-year as well. it too is moving, up 16 basis points at 3.66%. with all that you have to take a look how oil and gold are trading. gold is really getting killed earlier today. oil also moving down as well because again, economy is getting better. we'll see what happens. ashely: it is. talking of which the economy added 195,000 jobs last month handily beating expectations but the unemployment rate, well, holding steady at 7.6%. our very own peter barnes is in washington to brake down the latest jobs numbers and what it could mean for fed policy peter. >> ashley, plenty economists say this report gets the fed one step closer to tapering, starting to dial down and

backing off billions of doll quantitative easing bond purchases designed to force down longer term interest rates and part of the reason is because there were significant revisions for april and may, a net of 70,000 additional jobs created in april and may than earlier reported. and this now gets the monthly average for the last six months at about 200,000 a month. why is that number significant? well back in april fed chairman bernanke said a rate of 150,000 to 200,000 jobs a month would allow for a gradual decline, would allow the unemployment rate to decline gradually and so that has folks speculating that the fed could start to taper, pull back some of this stimulus on at least, maybe around september or on, whatever schedule its got. take a listen. >> if you look at the previous round of quantitative easing the economy hasn't necessarily been going full bore when they cut off the quantitative easing programs. i think the fed really wants to

wind up this program in early 2014. i think that is probably the reason why they started all this talk about tape everying. they want to set the stage and set the expectations. >> the fed had said it would keep going right now with qe in part because of concerns about the sequester spending cuts that kicked in on march 1st. have we seen any sign of see questionster in the jobs report? maybe in this one. we saw increase of workers, working part time for economic reasons up 322,000 last month. that has got some folks speculating that in fact some of those, the white house says some of those are in fact federal workers who have been furloughed. and other economists are saying well, maybe that is some folks worried about obamacare, cutting back full-time employees to part time. now we have the employer mandate delayed. we'll see if the part-time number turns around. ashely: or all of the above.

peter barnes in d.c., thank you. >> you bet. tracy: our next guest is bullish on the u.s. economy. says it is doing even better than today's jobs report suggestions. ff saut, chief investment strategist at raymond james joins us now. how so if if they still think people are struggling out there, i still think the consumer not fully back. >> i don't disagree with that. i make the argument though there are a lot of transactions taking place for cash that don't get recorded in the surface figures like credit cards do. tracy: ah. you have the underground economy has been built as many predicted based on tax rates going up, all the rules and regulations. so everything is under the table now? >> no, i won't say everything is under the table. i just make the suggestion that cash transactions are proliferating and that those are not recorded in the official figures. tracy: that's a fair point. let's talk about your outlook on the market which you're looking for meaningful pullback which is

interesting because you don't think this last dip was the pullback we were looking for if. >> no, i have not. i've been very constructive on stocks since you got the 90% up volume days january 1st, january 2nd of this year. back on june 19 and 20, you had reciprocal of that. two down 90% volume days. i don't think that was preconsiders sore to meaningful decline. for months i've been suggesting timing point comes in mid-july, from a quantitative standpoint and the technical standpoint and the news backdrop backs that up. bernanke speaks in mid-month. you will hear jawboning about the sequester starting to bite before congress adjourns for august. tracy: sell in may go away thing should be sell in july? you're building up cash right now, right? you're waiting for this big pullback? >> i don't know if it will be a big pullback. i think it could be somewhere between 10 and 12% but i think

it is for buying because i do think the economy will strengthen as we go into 2014. i think the world is profoundly underinvested in u.s. equities and i think valuations especially with this little pullback we've had i think are pretty compelling. tracy: that is interesting too. you make a great point the rotation is out of non-u.s. equities into u.s. equities not so much into bond, right? if everyone is pouring into u.s. equities where are you finding buying opportunities? >> you have to take them, you know, on a stock by stock or a theme by theme basis. one of the themes that i see, i read a report out of mayo clinic about six, seven, eight months ago now if you smoke in your later years your health care costs go up by additional 20% a year. if you're obese they go up by 50% more a year. and i look at my contemporaries moving into 60s, still eating mcdonald's hamburgers and not walking or exercising and @etting type one diabetes. so i own a lot of diabetes

stocks. tracy: it is morbid but a great play. technology is undervalued as well, isn't it, jeff? >> up until the utilities swoon, utilities were more richly valued than technologies suggesting that utilities would grow faster than tech. i don't think so. tracy: i think at love people parked their money in consumer staples and hoped for the best. they're pretty rich at this point. would you suggest tell selling them, taking money off the table waiting for this 10 to 12% pullback? >> yeah i would. take money out of utilities an consumer discretionary. you build a little cash in accounts. and when we get the pull back and we'll get a pull back whether it's in my timing points. whether we get a pullback that is opportunity to commit capital. tracy: jeff, we'll have to have you back to recap all of this. jeff saut, raymond james. ashely: he is ready, that's for sure. all right. coming up high unemployment in

egypt. many say it is the real reason for this week's coup. we'll tell you why governments around the world are paying very close attention. that's next. tracy: a new company lets car buyers stay clear of those dreaded dealerships. they have high-profile funders. its ceo is here ahead. check out how oil is trading today. the dow is up 103 points. oil is up about $1.76. $103, still over the pivotal 100-dollar mark. we'll be right back. i'm only in my 60's...

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you must be garth's father? hello. mother. mother! traveling is easy witthe venture card because you can fly any airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet? ashely: there is new tension in egypt tonight. hundreds of islamist supporters backing former president mohammed morsi are on the banks of the central nile heading for the we're told the national broadcasting tv center. we'll bring you the very latest as it develops. the question becomes, what does all this mean for the country's fragile economy and stability for the region? that is question being asked on many sides.

rich edson is live in d.c. with more on that part of the story. rich? >> well, ashley, next up a credit downgrade. fitch announced this afternoon it is reassigning the egypt government a lowly b-mine must credit rating there is risk of political and domestic instability and downside for economic out comes and creditworthiness. there is high uncertainty how the risks resulting from the military coup evolve over the short-term and the eventual pathway to a peaceful, political transition. fitch adds this political turmoil makes it more difficult for the company to reform the budget to secure emergency funding from the international monetary fund. others say change in leadership may help egypt's economy that the administration of mohammed morsi poorly managed the government. it has been a difficult year for the egyptian economy under morsi. economic growth of one to 2% is expected this year. unemployment rate is 13.5%. half the country lives off less

than $2 a day. debt-to-gdp ratio surged to 90%. when it comes to possible rescue, one analyst says there is international interest in stablizing egypt's economy. >> traditionally been historically one of the centers of gravity for the arab world and for that reason if egypt successfully make as transition to a successful economy and also to broad based democracy, it will have huge ramifications in other countries as well. >> the first order? political stability which given the view from the streets, seems pretty far off. ashley? ashely: yeah. tower rich, such a huge story for egypt. none of this is helping as well. rich, thank you so much. appreciate it. tracy: back here at home it is time to make some money with charles payne. this hour he is getting profits from your morning cup of coffee. >> listen, i've done green mountain a lot. i still like it. by the way when rich was taking off some of those things, we may

go to be, 13.5% unemployment, one or 2% gdp growth, to make you feel better to have the cup of coffee. apparently people still are. i like the green mountain. the reason i still like it is there is huge short position. first half of the year, a lot of short squeezes, big-time short squeezes. shorts don't give up. there is still a 34% short position. after the last time these guys reported earnings had to be adjusted by wall street but i don't think they adjusted them high enough. ashely: that is interesting. all about the k-cups. >> and joint ventures they have. starbucks said we would make the same thing. stock took a hit on it. starbuck's product was dead on arrival. they intensified their deal with them since then. it recently hit 82..3 pulled back a little bit since then. i look back for a retest of 82. another good jobs report or earnings report from these guys i think this could be a 100-dollar stock.

>> interesting. tracy: charles payne, thank you very much. >> have a good weekend. thanks. ashely: quarter past the hour, time to get down to the nyse. nicole petallides is standing by. nicole. >> moments ago we head session highs with the dow jones industrials. we're still looking good and gaining a percent over the week. so far so good for this holiday week. look at noodles which had its ipo last friday. 2 was supposed to price between 15 and $17. it priced at the higher end. range and sometimes when people get priced at higher end of the range, people get nervous. noodles, went up to 30 bucks, 40 bucks. it pulled up a little bit but pulled back. look at casual dining stocks today because they continue to hit all-type highs after all-time highs surpassing even their own records regularly i should say. these are names to take a look

at and see if you love these places. check them out. cheesecake up 1.3%. back to you. ashely: of course i love those places. thank you very much, nicole. we'll talk to you back at the bought hour. tracy: it is jobs day and the labor department still hasn't had a permanent chief for like six months. "wall street journal's" mary kiss sill here with latest on the controversy over labor nominee tom perez. that is next. ashely: we'll look how the u.s. dollar is moving on this kind of a holiday friday. as you can see the dollar is strong today, up against all of these currencies, the euro, pound and so on. definitely a strong dollar today. we'll be right back. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars...

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ashely: on this jobs day president obama's choice for labor secretary, tom perez, well, seems no closer to being confirmed for that position. a senate panel approving perez's nomination two months ago now but controversy over his legal tactics at the justice department left his nomination stalled in the full senate. "wall street journal's" mary kissel has been reporting on these legal tactics for years and joins us with more. does it feel -- >> it is been years. no one paid attention to the

story until the irs political harrassment scandal. >> now it is a story. >> the same tactics going on in justice. ashely: start with nominations process. he is literally stalled. where will it go from here? >> there is no vote scheduled because he still hasn't such complied with house subpoena his personal e-mail account. why did the house subpoena his e-mail account? the house investigatory committee, that mr. perez struck the legal quick proquote from the city of st. paul to get a case removed from the supreme court. we don't know who he negotiated with. and did it off government e-mail accounts. why his account differs dramatically other people that were involved and gave testimony to congress. there are a lot of questions. that is why there is no vote yes. ashely: this could go on indefinitely? something will have to give, right? >> eventually they will have to schedule a vote on the guy. what i think you see the administration knows you can't really thumb your nose at the

house and a federal subpoena and expect to be. ashely: get away wit. >> expect to ease through the vote. that is very embarrassing. ashely: talk about the legal tactics. let's go back over this because it can get a little bit confusing. disparate impact. explain to me what that is and how it actually works. >> the theory of disparate impact you can not intend to discriminate but if your action results in some group being discriminated against, again this is the administration's theory, you can be sued. so mr. perez at justice went out to big lenders and he said, effectively, you're not giving enough loans to certain minority groups, blacks and hispanics. so we're going to accuse you of racism. if you don't want us to do that, you can pay us tens of millions of dollars then we will not file the lawsuit. then we at justice will take the money and basically give it to people who we want to give it to, to community groups and to others. so this is what was going on at

justice. but disparate impact is a theory that not justice is using. you see consumer financial protection bureau using it. the equal employment opportunity commission is -- ashely: dollar general, bmw, a few others i believe were accused essentially use criminal background checks they said met this disparate impact threshold because essentially it was affecting one group more than others. >> well, again, this is the bureaucracy making up laws. it is perfectly legal for companies today to do criminal checks, credit checks. ashely: of course. >> because if you're a jewelry store you don't want somebody who is a convicted thief working for you. criminals are not a protected class. ashely: no. >> this doesn't change the fact you can't discriminate because of race, age, gender, all hose things. what the equal employment opportunity commission is doing, is saying, oh, no, we don't like that. we're going to try to make new

law through lawsuits. that is where you got bmw and dollar general. ashely: is this headed towards the supreme court? have i read that? is the supreme court will take up this issue? >> the supreme court twice agreed to take up disparate impact under fair housing act. ashely: okay. >> as it relates to housing. the first time mr. perez engineered to have the case pulled from the court. there is second case the court agreed to hear. a town in new jersey, mount holly, new jersey. that case looks like it may be settled. there is a third case out there. even if that second case gets pulled, two cases in a row. ashely: it will have to be eventually. >> it was clear the administration didn't want the supreme court to hear the st. paul case because they could get an adverse ruling. i think that is all you need to

know. ashley: will he get nominated eventually? >> eventually they will have to have a vote. it is important the media and others start to pay attention to these bureaucracies trying to make up the law. ashley: these tactics. all right, mary kissel, "wall street journal" editorial board member. thank you so much for being here. we'll stay on it and continue to follow the developments. >> thanks for having me. tracy: well, it's been a while since we talked about the sequester cuts but they're not over. the national guard's furloughs actually start on monday. thousands of full-time national guard soldiers and airmen will be hit with a whopping 20% pay cut over the next three months. the cuts were only supposed to involve sissel lanes, civilians. recently military technicians were added. now only national guardsmen who are exempt, those on active duty, not the sicilians. they say that will affect their ability to respond to wildfires

and hurricanes. >> what a major development. the sicilians are now involved. tracy: are they involved in everything? ashley: i'm not going to comment. coming up the american jobs and the fed. chief economist john silvia will tell us how today's numbers will affect the fed's taper plan. that is next. tracy: first, let's take a look at some of today's winners and losers. the dow is up 35 points. news corp is doing good, up six points, 7%. we'll be right back.

♪ >> 90 minutes until the close. the dow is at session highs this friday. nicole petallides still on the floor of the new york stock exchange. hey girl. nicole: we are sitting at the session highs of today's trading. right now the dow is that 15,120. a point or two off of the highs for the day. most names on the dow jones industrial average to have of arrows. homebuilders today are a different story. the ten year is that 2.71%. that may, ultimately, we will watch what happens with mortgage rates. you saw a lot of down arrows there. you pick it.

it has a down arrow. back to you. tracy: thank you. ashley: what does today's better than expected jobs report need for the feds plan? it will be a question that will be talked about a lot. our next guest says it is full speed ahead. he does think that the fed will take it's time in terms of tapering. thank you for joining us. >> sure. i think 200,000 may be -- i think it is a enough for the fed to pursue its policy.

the bond market, it means less buying of treasuries by the fed and therefore higher interest rates over time. ashley: is there a concern for you? >> what you see now is we will start to learn how strong the housing market really is. we will learn a little bit about first-time buyers and second time buyers and what the market is exactly for those type of buyers overall. the dollar has strengthened. that will have an impact on our exports as well. a lot of part-time jobs are being created. that to me, is a weakness. peter barnes in washington

earlier in the show said maybe that is the impact of this the cluster being seen. maybe employers do not want those with the new healthcare coming into effect. what are your thoughts on part-time jobs and how many there are being created. >> there are a lot more part-time jobs created. also, when you look at the categories that generate a lot of jobs, retail trade was very strong. hospitality was very strong. just about 100,000 plus jobs were in sectors that were typically higher part-time workers. i think it is a phenomenon of this cycle. it seems to be a growing phenomenon of the u.s. labor market.

ashley: we are also seeing wages rise above inflation levels. that must be encouraging as well. >> very much so. it is good to see the wages translating into real wage gains. we do see an economy continuing to grow. housing, maybe dance a little. ashley: you think that the fed by september will announce some sort of tapering plan. >> yes. it could easily be ten or 20 billion a month dampening, in terms of how much they are fine. i think it will be a while. ashley: the jobs report cannot

come too much of a surprise to the market. >> no. not at all. ashley: thank you very much for joining us. appreciate you taking time on this friday to speak with us. he is a trooper. tracy: today's better than not good enough for many hard-working americans. jeff flock is in illinois with more. hey jeff. jeff: and lot of people behind me. people concerned about leaving the jobs that they have. this is a pacs. a plastic finishing company outside of chicago. they are making pieces for cars, actually. these are full-time workers that are temporary employees because a lot of employers do not have

the confidence to hire full-time workers themselves. >> that is right. there is too much uncertainty for them to add to their permanent payroll. jeff: pete runs this company. you have some temporary workers. >> that is correct. we do not want to hire them on yet because we are not sure how long we can keep them. if we hire them on and then we have to do a layoff, now we have issues with our unemployment. this way, if we do have to let them go because things do drop down, they can take them back and maybe put them to work somewhere else. jeff: a private staffing firm in north america. you are actually beating the bushes for some people that do not wann to leave their job.

>> many of our clients are looking to add full-time positions. many of the best candidates are employed fully. jeff: you are the last one in. ashley: thank you so much. johnny depp losing some of their box office. tracy: i finally saw the commercial. it is scary. ashley: why the media giant could be paying. tracy: i guess so. that is not the sexy johnny depp that i know.

the ten year is up 20 basis points. your 30 year moving as well. of about 18 points now. it has moved since we last reported. we will be right back. ♪ friday night, buddy.

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shapiro with your fox business brief. chrysler is recalling 280,000 minivans because the air brakes can do put on the wrong side in a crash. the recall includes chrysler town and country and ram cargo van model year 2013. they began investigating that issue after a customer complained. there has been one minor injury related to that. holy comic book batman. the dark knight returns number two comic book read will be of for sale next month. it will be sold. it is expected to fetch $500,000. that is the latest from fox business. ♪

tracy: gearing up for the rest of the weekend. the costliest flop for the summer. dennis kneale has more. dennis: a disney debacle. it lassoed only $9 million. you have these yellow little minions, "despicable me" reagan almost four times as much as "alone ranger." the film triggered a $200 million loss. the pain is offset by the nrs

success of "iron man three". the lone ranger should have been a block buster. it had johnny depp. the simple lesson, make a better film, guys. another lesson may be, especially in the summer of sequels, it is risky to introduce a new character and film even when that character turns out to be 80 years old. ashley: at least have a decent storyline.

tracy: i thought despicable me to. i loved it. ashley: oil jumping for the fourth straight session. that is $103.22 a barrel. that is a gain of nearly 2% on the day. it is quarter till. time for stocks, as we do every 15 minutes. what do you expect next week? >> i think that that earnings are anticipated to be pretty good all-around. i think that everyone is looking for a very good week next week.

with all the global news going on and all the turmoil in the middle east, i think we can expect nothing less than a lot of volatility. small business indicators coming out next week. small businesses employ more than 50% of the workforce in this country. ashley: if the fed goes ahead in september, will the market be ready for it? we have been talking about it for a while. i think it will be instrumental at best. it will be small, if anything. i think the market will continue to go higher overall. ashley: very good. thank you for joining us.

have a great weekend. tracy: a new company lets you test drive a new car without actually stepping in the dealership. we will find out how this works next. ashley: first, take a look at some of today's winners and losers. we will be right back. ♪ with the spark miles card from capital one, bjn 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

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tracy: tread which launched just a few weeks ago, lets buyers negotiate a price without actually stepping foot in a dealership. rick wegner is one of its big backers. i am in the process of renegotiating. i love this idea. >> thank you for having me on. it has been a long journey. we have really become convinced that there is a way to approve the process for both sides of the equation. tracy: i have brought the kids to the dealership also.

the next thing you know, you have the worst deal of your life. i get in touch with you and i say i want to test drive these cars. >> yes. >> yukon to our website. you schedule a test drive. you see how your baby feeds and strollers and cargo fits in the car. after that, you get to go walk your dog, play golf and live life. tracy: $19 a test drive. >> yes. the typical experience lasts about an hour. sick that i can have multiple cars sent to my house.

>> yes. you can have more than one car at a time. >> you are test driving this in seattle right now. >> he gave a talk that i was not listening to, i was actually out in the hall. we struck up a phone conversation after that. he offered me an internship and i said no thank you. a year later, he at least said he remembered me. tracy: at least he lied. we spent 11 and a half hours shopping at dillard ships. you are saying that part of my $19, you will organize the price and try to cut down not price for me also.

>> yes. you do not set foot into a showroom until you are very confident about which car you want precisely the car of price. our goal is to get shoppers in and out of the showroom front to finish under 90 minutes. usually closer to 60 minutes. tracy: where are your expansion plans? >> we actually really like new jersey. it is the size of the washington peninsula. right now we have no plans that are set in stone yet. tracy: excellent idea.

ashley: from cars to something we have all been waiting for. the top of the world finally has 4g coverage. it is all thanks to the chinese. they have made it possible for climbers to live stream the view from 17,000 feet above sea level. that mobile service designed to help clean keep climbers safe as well. i cannot get back kind of covered up in westchester county, but you go to the top of a mountain, crystal-clear. >> he has been at the top without service. countdown to "the closing bell" is next. samsung misses its stock.

is it apple game? we will find all of that out next. "countdown to the closing bell" right here. do not go anywhere. ♪ this is greta. she works in quality control. she makes a nifty living sleeping on mattresses pioneered by engineers whose singluar devotion is not stopping until

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♪ >> jobs surprise. employers adding a strong 195,000 workers. praise the timing of the fed tapering program sharply into focus. full market reaction and tell you what it means for your investment. smart phone wars. missing earnings estimate. samsung beginning to fade? ww will break down the changing dynamics of the smart phone market for you. and the lone ranger might be even more lonely today. the disney movie.

after a lackluster box office numbers and some pretty ugly reviews, we look at the july july 4th weekend openers and share some big media companies. "countdown to the closing bell" starts right now. ♪ liz: hello, everyone. it is the last hour of trading. two things are going hand-in-hand today. residents expected jobs picture and the fed. monsoons likely to affect the other. a pretty safe bet that the fed will taper. the market's reacting positively the major indices are all to the upside right now. it has been a very choppy ride today. following the numbers throughout the day. the dow pushing session highs. thirteen and the s&p, 27 on the nasdaq. team coverage of the top headlines, including the latest on the standoff in egypt and how