you are making $9000 a year. it is a step up. stuart: you have it. dagen, it is yours. dagen: thank you, stuart. on a day like this, stocks are still cheap. microsoft stock at a 52 week high. the first handset maker to build a complete phone right here in the good old united states of america. a fish oil shocker. new research now links fish oil to a big increase in prostate cancer risk. all of that and more coming up on markets now. ♪

dagen: i am moving slowly and gingerly. you know what is coming up later? darius rucker. connell: that will be great. the market is way up. first, nicole petallides on not microsoft story. nicole: good morning. taking a look at microsoft. some of the details have been put out there. we can see shake up there. basically, they will be focusing on what they think the consumer needs.

devices will be anything from telephones to tv attachments and, of course, tablets and pcs. let's take a look at the big board right now. the dow jones industrials up 136 points right now. moving closer to intraday highs. back to you. connell: we keep hearing over and over how the fed stimulus program is what is keeping our economy afloat. brian wesbury is a bowl. i apologize for her. it is not the fed. that is what is driving the

market. you have been able for a long time. >> when i go back to 2009, connell, there are lots of people who believe this quantitative easing. people call it a sugar high. it is all just sort of a fake rally. if you look at price to earnings ratios in the stock market, that would be the price of the stock relative to its earnings. they are no higher today. they are lower today than they were before quantitative easing started. connell: you would make the case

that stocks are cheap. i saw some writing that you use a model doing that. it would be 4.5% when you model. work it. >> we want to own a company because it will make money. what is a dollars worth of profit? we have always believed, and i believe still, that the bond market is in a bubble. when we run our stock models, here is what earnings will be and we will discount them with a much higher ten year treasury

yield. we are putting in 4.5%. it is telling us that the market is 35% undervalued today. interest rates can go up, but it will not change our view. connell: you are saying that it may happen? it may be a correction. it will not happen at all? >> if we just go back over the last six weeks, bernanke came out and said we may taper quantitative easing. stocks. drop. there is no dow that traders and investors get scared when they hear these kinds of things.

all of a sudden, stocks started coming back again. yes, sure there was a knee-jerk reaction. it is not the real fear that they should have. profits are high. when i go back to 2009, i do not believe that quantitative easing or tarp or government spending is what saved the economy. i believe that it was the entrepreneur. we will be energy independent in america in the next three-eight years. i know that the economy is not

great, but that is what has allowed us to grow. it is not all based on a sugar high. connell: thank you a lot. >> thank you, connell. connell: a new poll out. there is 35%. dagen: what does this mean for immigration reform? it seems like people are a little bit more, well, they want to be not as against it. >> that is a really wide open question that the gallup asks.

connell: we always look out the economics of things. they are conservatives that have come in. i am thinking about art laffer. economically, you could make a conservative call. >> this monstrous comprehensive bill coming out of their -- load everything in at one time. they are doing legalization first. they are doing a pathway to citizenship and then doing order security.

connell: would that be better than what we have? would it be a good economic bill? >> not necessarily. it is doing the legalization first. we should be doing really smart immigration reform. it needs to advance the economic interests of the united states. dagen: what are the chances, if you look over in the house, what they are trying to do is piece by piece, john boehner according to reports today testing the waters to see what they would get on board with. does that have a better shot?

>> i think so. you guys talk a lot about obamacare. that comprehensive bill, the total disaster. why do we want to go down that road again with something as critical as immigration? let's see if we can get some democratic body in. this bill is dead in the house of representatives. connell: thank you, monica. >> always a pleasure. dagen: good to see you, monica. motorola is rolling out its smart phone later this summer. it is giving the economy a boost. it will be fully designed and assembled right here in the u.s.

connell: we are live in dallas. >> 130 million of thhse smart phones at use in america. not a single one is put together here. it will roll off the assembly line right here in north texas later this summer. they are hiring thousands. >> everything that you can imagine. you have production supervisors. production management.

>> a wide variety of jobs. these are certainly a new american jobs being added. we do not hear about that happening too often. dagen: what about other companies possibly following motorola's lead? >> that is the hope. of course, the accusation, though poor working conditions in apple's plans there. they are now changing the economy in china. it could send more jobs back here to home.

>> reduction costs in china have risen very rapidly. labor costs have been growing much faster in china than it has in the united states. >> apple has now said it will build some of them in austin texas. it seems to be a popular place. connell: thank you. dagen: when you hold up a blackberry, you cannot call it a smart phone. no. i will say something that will get me fired. [ laughter ] connell: thank you. much more still to come. dagen: smokers could actually be getting a break because of another, you got it, glitch.

connell: fish oil pills. new research shows the pills may be linked to a higher risk of prostate cancer. we will have back coming up. dagen: darius, he is doing good with some wine. he will tell you all about it coming up. crude oil. what is it doing today? ♪ [ male announcer ] at his current pace,

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dagen: hey, nicole. nicole: so much of this starts with the fed. what we are seeing here is that

the idea that the fed is not tapering any time soon. the dollar is weaker. commodities, gold in particular, is taking off. gold, of course, everyone was so hot on it. now they are just sort of hoping for gold 1300. connell: thank you. dagen: is charles payne a bowl? connell: charles is going to make you some money on chips. charles: absolutely.

they use this thing called gallium nitrate. it has a lot of advantage over silicone. it is all about power management. these guys have been doing very well. it is trying to break out. they said they could be as high as 30%. they have a product moving in big-time. dagen: when you start talking like that -- charles: you can never get too

cocky with the markets. connell: take a look at these returns. regional banks have been on a run. elizabeth macdonald will be here to tell us why. dagen: fish oil pills and prostate cancer. astonishing results. take a look at world currencies and how they are doing against the greenback today. ♪

>> 24 minutes past the hour. i have your fox news minute. the muslim brotherhood is vowing to keep it peaceful resistance. a u.s. official told reuters there is no change in the plans to deliver for more fighter jets next month. the pilot of the flight that crashed in san francisco is now claiming that he was temporarily blinded by a bright light shining into his eyes. there is no confirmation on that yet. boston marathon bombing suspect

fled not guilty to 30 charges, including the use of a weapon of mass distraction. he could face the death penalty if convicted of carrying out the april 15 bombings. those are your latest headlines here on fox. back to dig in and connell. have a good show. dagen: back to earning season. one thing stands out. regional banks are outshining the pack. connell: elizabeth macdonald in the newsroom. >> the regional banks are soaring. look at how they are rising year over year. these are the smaller players. all the way up to the super regionals. we have think of the ozarks reporting later today.

that stock is up 37% year to date. this third also of 34%. they are making money basically via loans. a lot of these guys hhve money made off the floating notes of very low rates. the one caveat, of course, for all of these players is the new d.c. rules, whether or not the security portfolios will take a hit. these guys tend to make money the old-fashioned way. the numbers could be jumpy because they really hit a wall, of course, during the financial collapse. back to you guys. connell: thank you. dagen: a very candid interview.

dennis kneale is coming up. connell: smokers catching a break from the president's health care law. we have the cancer linked to fish oil pills. we have a doctor coming on to explain that study for us. a rally mode in the markets. here are some of the winners on the s&p 500. ♪ any last requests mr. baldwin?

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speed. about 150 points here at the bottom of the hour. looking at some of the movers today. nicole: celgene and the drug

round of 70% this year. hitting an all-time high today. they will be moving forward with a new drug. gas is reporting after the bell. reporting with a new hi there. up about 1%. tesla motors has done incredibly well this year. up 1.5%. a possible takeover target for the electric cars. back to you. dagen: thank you so much, nicole. smokers, you could be catching a break. you could get relief from the penalties that will be applied to tobacco use that should result in higher premium for smokers.

wayne rodgers joining us now from los angeles. it is basically a computer system problem. i think overall, this just speaks to what a disaster this health care law is. >> you are right. it is a mental problem. you have morons trying to design a plan that is impossible to design good you have over 20,000 pages of regulation. it is a nightmare. the congress does not know what they are doing. they did not read the law. it is not a computer problem. the computer problem is a minor part of the fact of you have idiots trying to devise a program that does not work. dagen: how do you think this shakes out, big picture, wayne?

you have the delay for one year of the employer mandate. they are still pushing ahead with the individual mandate. they do have the health exchanges that are being put in place that are supposed to go live october 1. there is no indication that the government has itself together to take care of that. [ laughter ] >> you have enormous confusion is what you have. you cannot devise a system is complicated. the federal government should not even be in this business. it is outrageous. listen, we have hired over 130,000 people in the federal government, on the federal payroll since obama was elected. what do they do? we know that they go to parties and may spend money at the irs. they do not do anything.

they have some mental capacity and they are trying to devise a system that is way above their head and they cannot do it. by the way, 2000 exceptions that they granted to various corporations so they do not have to comply with the "healthcare." it is just a disaster. they should just start all over. dagen: at a can do that though. >> why not? dagen: you have democrats going to throw in the towel on this. >> maybe they should be thrown out of office. maybe that is what should happen. maybe the public should get intelligent enough to throw out people that are not worthy of

it. they are not representing the people. they are representing themselves. they spend money without knowing what they are doing. they do not understand the law. well, it is outrageous. you cannot run it that way. dagen: i smell an audit coming your way. good luck with that. [ laughter ] >> by the way, i have been audited before. i live according to the law. the law is fine. the people that the government gives breaks to, that is the problem. not everyone is equal. when the president stands up and says people should pay their fair share, who is he to know what is fair? why should you be coerced to

take out of your pocket money to give, for example, an automobile worker in cleveland? what is right about that? there is nothing fair about any of this. the pretense of it just bothers me. dagen: good to see you, wayne. i love you dearly. [ laughter ] >> good to see you all. connell: we have this fish oil shocker we have been talking about. a lot of people that wash us, i would think, take these pills. dagen: a 52 week high a lot of people that watch us, i for the stock of microsoft. connell: a front man for hootie and the blowfish back in the day, darius rucker, he is with us. ♪

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connell: a news alert on a story a lot of people are talking about today. there is a real concern that you

could have an increased risk of cancer because of a new study out. fish oil supplements, associated with a 71% increase in high grade prostate cancers. if you look at the business side of this, a big bat in the market. thank you for coming on, doctor. >> it is important that this study came out. not recommending fish oil one day as the perfect alternative medication and the next day walk away from it. you always take the risk.

the reason is because people are not getting enough from their diet. that is the time that we should be taking these vitamins. you absolutely do not need to add all of these vitamins. mind you that this study was not designed to look at the relationship between fish oil and prostate cancer. connell: for some people, it is almost like fish oil has become, i do not know if trendy is the

right word when you talk about medicine, but there have been big companies getting of files and buying these. >> you should speak to your doctor and make sure you are taking enough. for now i would say just hold off. what i usually do, do not take a lot of vitamins unless you absolutely need to.

you have fruits and vegetables. you do not need to take bottles and bottles of vitamins. connell: that is good to hear from you on that. dagen: at the biggest names in media. connell: dennis kneale is right in the middle of the whole thing. he joins us now. dennis: disney ceo looking fit and trim. meg whitman not talking to us. bill gates walking tour at a time where microsoft is in the middle of that. then came barry diller and his wife. i first interviewed him in 1987.

he did talk to us. i asked him about apple's big loss. >> i do not know enough about it to tell you truthfully. if you feel strong about stuff, you go to court and take chances. dennis: his network that sued in boston yesterday. we will know what he has to say about that case. back to you.

connell: the management shakeup that microsoft. >> to me it is very bullish. these companies are in the business of making other companies efficient. now they will work on making each other in efficient. it will definitely make them more competitive. connell: thank you, jason. we will get back to that. appreciate it, as always. dagen: look at who is here. darius rucker. connell: hey there, darius. we are very excited to have him in the studio. we will talk about his music and a little bit about his new business as well. ♪

♪ connell: it is either nascar or country music that makes dagen excited. dagen: that song was on someone's boombox and they carried it over and put it next to my chair.

connell: the country music star, known for some big-time hits over the years. now some big-time business that we will talk about. good to have him here with us today. dagen: darius rucker. member of the grand old opry. is this where you want it to be? >> i have been a country fan for years. i always said one day i would make a country record and try to play country music. it is really great that it works. i get to make one record. now i have a career and it is just going great. connell: i wondered what would be a better business to be in. pop music or country music. you are doing it because you love it. >> yes. the fans are so loyal. nashville is a family.

dagen: diehard old-school country fans. contemporary country is pop music. there is no difference. >> a lot of people say that. i think country is the new rock and roll. country music has evolved so much. you have so many different styles of country. i think it'd still all be country music. dagen: what does the country look like right now? >> we sold out most.

people come out and they just want to have a good time. connell: speaking of making money, we talked to a lot of artists about that over the last few years. >> we promote our records. dagen: do you attempt to go back to the studio with him? the 20 year anniversary is coming up. >> yes. next year. dagen: i am here to make you look old. [ laughter ]

>> it is really great. we have been able to said 35 kids to school. it is great. a place for them to go and learn and get physical therapy. dagen: before we go, what are you listening to right now? >> i love brad paisley, carrie underwood, eric church is my god. i cannot get enough of him. florida georgia line. dagen: i hate eric church. full disclosure.

i don't hate him as a human being. >> i love florida georgia line. i think they will be superstars. connell: justin bieber. >> yeah. going through restaurant doing crazy things. [ laughter ] >> what not to do. exactly. dagen: wagonwheel taken from a sketch by bob dylan. have you given them enough credit? >> every time i talk about wagonwheel, i say they do. a beautiful song that they did. so much that we felt like -- i give them all the credit in the world for coming up with a great song. connell: thank you so much. are you into the market much?

>> i have money in it, but i am not into it. dagen: make sure you come back. >> i would love to. dagen: making the company more aggressive against apple, google, samsung. connell: do not count out aol. cheryl will have more on that. keep it here on markets now on fox business. ♪ i want to make things more secure.

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15,409. stock picks, fed fears and more and kenny parish coming up and take a look at microsoft, the stock in a 52 week high, steve ballmer reorganize the company to better compete against apple, google and samsung and we will discuss it and my colleague dennis kneale live from sun valley, stereo tv making some waves. don't count out a o l, the stock is outperforming the nasdaq. just initiating coverage on the stock and double the one on one with the chairman of a o l, ken armstrong in sun valley. top of the hour, good day to go to nicole petallides on the floor of the stock exchange with stocks hitting fresh new highs. the question is can we close with a new record? nicole: if we close right here right now this would be a record all time closing high for the dow jones industrial average. stocks, great news for the bulls, everybody remembers when we were at 6500 during the

financial crisis, they are loving 15,434. you see the dow up 132 points, people are not worried about the fed cutting back, gains across the board, dow component microsoft, continue restructuring in order to focus on what the customers want and innovate more quickly and we have broken down and breaking down into four divisions and doing management shuffle and changes and it is a big deal and obviously a dramatic change from microsoft. cheryl: more on microsoft with roger case giving his take on the reorganization which we were expecting and there are some ifs ands or whys. big reason for the rally at 140 points, fed chairman ben bernanke, he was speaking last night and said the dual mandate of the fed's objectives have not been met. >> we are not there on the maximum employment part of the

mandate. on price stability, inflation is 1% which is below our 2% objective. both sides of the mandate, the employment side and the inflation side are saying we need to be more accommodating. cheryl: you heard it. more accommodating the deron next guest says and don't get too caught up in the fed. is all talk and no action. ted barrett, director of investment, you say all we are hearing is wordplay but words are moving the markets. look what is happening today, took the market down on the twenty-second of may, his words taking the market today, how can we not listen and depend on the fed for market direction? >> you got to listen to him of course, but the fed like my granddad said, when you have your hand in the mouth of a lion you have to take it out real slow, can't just check it out and that is the situation they are in, trying to posture and get the market psychologically

prepared for an eventual decrease in asset purchases and the eventual increase in rates. until we see that it is all word play. cheryl: which is happening. you have analysts calling him mr. bubble and if you look it interest rates, housing, this accommodative, great for the housing -- but several analysts told me this economy is not strong enough. they can't pull back or tapir and seems even the fed chairman himself is backing off of that. that tells me the market will have a nice second half of the year. >> the market will have a nice second year because as you look a little further out, 2014, earnings estimates we are seeing are calling for isn't the earnings growth of double digits and you have to think there are a lot of things included in those including the health care

bill coming will affect and spending cuts. earnings cycle is going to pick back up and hopefully at that point you will see the fed finally stopped purchasing bonds and even indicate when they will raise -- cheryl: let me ask about bonds. remember what happened in the ten year, adjusting the yield when last time the fed met we got the decision in the press conference by ben bernanke, what about the bond market? a lot of people have gotten burned and are frustrated with bonds. >> for the last five years we have not been buying long-term bonds. we have pretty plain bond strategy, we ladder out 10 years and keep it short. ever since its april 30th we have seen a noticeable rise in rates and we are waiting for rates to get to level where we can buy for the class and get a pretty good yields. haven't seen that yet but it is encouraging to see the rates go up a little bit.

cheryl: thank you very much. >> thanks for having me. cheryl: dennis kneale is at the allen and co. media conference in idaho where the bidding for media streaming site hulu is down to two players. what are you hearing? share dennis: is one of the big topic of conversation, time warner chief joking i don't know who will buy it, maybe has broken toy maker, ceo michael eisner said what you buy and when you buy the site? it comes down to these two guys, direct tv ceo michael white and peter, the former fox chief who has is an investment firm and teamed up with at&t. what you bind if you get hulu. $1 billion. this is a site owned by disney, abc, cbs and nbc universal which has no say because they have been ruled out by the fcc to win approval of their comcast deal.

the problem is hulu, this great rerun site for network shows or netflix a site and a division of that and what played out yesterday, if mike white of directv gets this company what will the three network donors do in terms of programming rates with hulu? take it out and sell it to the market? what are you buying here? we will see what happens. if they get this this goes against what at&t's chief told me, randal stevenson, which is at&t does not need to be in the content business but i don't see how you pay $1 billion for hulu unless you turn it into a netflix competitor and a site rather than simply running network reruns free of charge. cheryl: a lot is happening in sun valley. we will see you to give more details what is going on, thank you so much. anna sigga-nicolazzi 3 -- hulu

could be looking to revamp its own brand, a o l holding of an audition for acres in manhattan as they focus on new live content calling it a 0 l y. jobs are banked on this. earlier i had a chance to speak with chairman and ceo tim armstrong about that and the mood in sun valley this year. >> the mood in general is people are cautiously optimistic on the economy side overall and on the deals side and what you see in the media landscape you are seeing the separation of conglomerate between tv and newspapers and those things happening and separately you are seeing a real push into digital with the traditional media people going more into digital and more holistic combination of how digital will serve consumers and advertisers and subscriptions subscribers. the mood here generally is a lot

of partnership opportunities and sun valley brings together the best of digital and it is a great opportunity for people to cog question for many in your industry whether it is internet, television, radio, print is what is content distribution going to look like in five years? i you having those discussions in sun valley? >> those discussions are happening every day across the industry and if you think about it, look what has been announced in the last 12 months. content couple of years ago was out of favor. today every major platform has that content strategy about distribution. if you look across facebook and twitter and apple and all of the major distribution companies, google all want to partner with content companies. a o l invested in content and there are a lot of content companies here. opportunities to distribute content and have a broader model in the digital era is tremendous

and only just beginning. cheryl: a couple big things happening for your company. first off city initiated coverage, put a buy on you and if shareholders are patient, a o l is going to reward them over the next year. i noticed content is to go live, is that where you think the growth is going to be? >> we think that the company level inside the industry that content is king and more devices compete, the content is becoming a bigger and bigger place within the industry. our strategy specifically has been going to make the brand areas that serve humans very well so you look at the huntington post or tech crunch or stylist or patch we invested very heavily and specific content areas that are very human driven and what cumins care about. when you think about our strategy the newest piece of the strategy later on from a platform perspective is live and

we believe devices and networks are getting faster and faster. the ability to put content up faster will be really important and we just ran our a o l live opening, huntington closed live last year, at 9,000 guests from 85 countries, thirty-second% of huffington those traffic outside the united states. this is not only an opportunity in this country in the u.s. but a megatrend where content is going to become the centerpiece of the internet and mobile redistribution. cheryl: you initiated a share buyback as well some of accompany and you yourself were confident in the future of a o l. what do you think shareholders need to know about the next 12 months? stock is up 27% so you are outperforming the nasdaq year to date. for the next six months where will you find that one key piece of shareholder benefit if you will?

>> the buyback we just announced is a continuation of what we have done in the past and what we will do in the future and a o l is specific about this. we have been investing heavily in areas where the internet is going and investors see the payoff. the second piece is we have been very shareholder friendly in making sure when we invest in the business we are also investing in what is the huge value for shareholders and a o l's buyback strategy overtime has been a very big asset for shareholders and the buyback we just announced, continued buyback will have enhanced benefits of investors over the next 12 months of look to get operationally better against the strategy and continue to play bold in the content space and add technology space and also just to continue to be very shareholder friendly. cheryl: that is a 27% year to date. thanks to aol ceo kim armstrong for joining us from sun valley.

the shakeup that microsoft. a massive restructuring as ceo steve ballmer tries to make the company a more aggressive competitor against apple, google and samsung. we will analyze the why, the house and the new whiff roger k.. the future of the housing recovery. we will tell you about the latest spike in mortgage rates and possible fallout from what we are seeing with those numbers. we will take a look at the energy sector, will now down below 105, big story was the jump in oil today down $2.11, be right back. my mantra?

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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 us you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet? cheryl: every stock from the dow 30 in the green. visibly in the charred despite the lone ranger. take a look at the dow jones and i will show you what we are seeing over the last year, year chart of the dow. this is what we are all making, year to date for the dow 30 again we are pushing potential new record closes for the dow and the s&p and the nasdaq. here is the nasdaq, year to date, strong performance on the s and p year to date, big

percentage gains. nicole petallides on the floor of the stock exchange has more color on a day like today. traders get excited when we have these new milestones reached. it is nice to see. nicole: why not have newmarket that is running and challenging our highs, taking out our all-time closing high which is something we are doing today. if we were to close right now we would go down in history books right here so it is a monumental day and people are aware of that. at the same time you see these of arrows and looks look at home builders which are leading the way on the s&p 500. names like lennar and told brothers, 5%, 6%, horton is up 7%. some of this may be attributed, we heard from ben bernanke, the head of the fed, they are going to remain highly accommodative at least for the foreseeable future. in the meantime the ten year treasury dropped off the yield and ultimately that in turn could affect mortgage rates to a certain extent and people were

concerned about mortgage rates on the rise, maybe they will drop a little bit and that could help. is intertwined in some way, shape or form and these are leading the way. lenore is the number 2 best performer of the s&p 500. cheryl: god forbid we pay 4% 430 year alone. nicole: our parents paid 18% or something. cheryl: something like 16%. thank you very much, see you in a little bit. there is no stopping charles payne. this hour he is bringing the texas industry. i asked about the market. nice to see. cheryl: it is nice to see. charles: i want people to focus on these names, get away from the noise, earnings season is early but i like what we have seen so far. the narratives that are developing. helen of troy had different

narrative, w d 40 had a different narrative. how many people watching the show right now probably have -- never thought of it as an investment? a lot of different narratives are working out. i wouldn't get too, up in ben bernanke noise. that is more wall street and their consumption. we got room to the upside. cheryl: is a psychological argument to be made. you need to follow the market. charles: you can be the role of the stock market are a harbinger of things to come. texas industries. i wanted to come up with a stock that wasn't up today. people are saying i don't want to buy a stock because it is up 100% in the last four years. this one is not up. this is something you can consider long-term. it is based in texas. texas, the economy is starting to spread, shipments up 34%, pricing power in texas, a prices

up 4%, just acquired 42, what they call ready-made cement mixer things. it is not a trading play by any means. i thought i would talk about something people could look at that is not running reckless abandon and may have real good upside potential for someone who wants to buy something and the heat of the dow's all-time highs and hold it for a year or so. cheryl: it relax really good. charles: looks pretty good but inconsistent earnings and things like that. construction has been weak but is turning around. cheryl: ties together, charles payne. charles: sometimes when you don't have the forces. charles: charles payne. cheryl: too bad for charles can't compete in a fox business summertime showdown but you want him, you totally went in. tomorrow we have got another edition of the show down. you have been watching it, eight stock pickers going head to head

in a month-long competition, tomorrow's players are eager to battle it out. scott martin is putting food on the line. won't believe what david trainer is willing to do if he loses. take a listen. >> i am scott martin of united advisers. i will bet david trainer 1 -- no, 2 deep dish chicago style pizzas with any topping he wants, stock picks will outperform his. in fact i might even deliver them myself to ensure they get there safely. see you friday. this is david trainer, ceo of new constructs and i am so confident the diligence my firm does in the footnotes gives us the best date and best models in the company's we cover that i am willing to sink i am a loser baby at the bluebird cafe in nashville if my kicks do not beat scott's. cheryl: david better deliver on that because i will be sending a camera to record that. check out the track record of

the previous, david recommended sandage's, it is up 73%. scott, a consumer staples last july of 15%. since then looking forward to see what they have got tomorrow. all new picks coming out, tune in tomorrow at noon eastern time on fox business. what do you make of this? charles: i like both those guys, they are good guys who do their homework. it is not been brought noise, they drill down and find good quality stuff. can't wait for that. i want to check it out. cheryl: fish oil mornings. many people, official will warnings, many people i taking these pills for their heart but it could be putting you at risk. for prostate cancer. details in a fox news minute. and government paying telecom companies for the ability to tap phone calls in the u.s.. guess who is footing the bill? that would be you. more on those coming up. when we made our commitment to the gulf, bp had two big goals:

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>> this is your fox news minute. in each of the muslim brotherhood vowing to keep its peaceful resistance to the july fair ouster of president mohammad morsi. u.s. officials telling reuters

there's no change in plans to deliver four more f-16 fighter jets next month to egypt's military. the pilot of the airline flight that crashed in san francisco is claiming temporarily blinded, shining his eyes from an altitude of 500 feet when trying to land the plane. no confirmation on that federal investigators continue working to pinpoint a cause of the crash. also a new study out today linking fish oil with prostate cancer. men with high levels of omega 3 fatty acids found in salmon and trout, fresh tuna and fish oil, have a 71% prior risk of high grade prostate cancer according to a new study at seattle's fred had as in cancer research center. those are your it latest headlines. cheryl: appreciate it. the u.s. is wrapping up talks

with china in washington today. the issue of cyberproof remains a point of contention between the two powers. >> cyberenabling fifth of u.s. companies are experiencing now, must be viewed as out of bounds and needs to stop. too much is at stake for us to let our differences get in a way of progress. for the united states this means an economic relationship where firms and workers operate on a level playing field where the rights of those who participate in the global economy including innovators and holders of intellectual property are preserved and protected from government sponsored cyberintrusion. cheryl: those remarks just the latest in what has been not blank the back and forth with top chinese officials over beijing's massive cyberespionage campaign. attorney brian finch, estimates are showing $300 billion a year

being lost because of intellectual property theft. is america turning its eyes away from this. nothing should be coming of these talks in washington. >> america is not turning its eyes away from it. we are focusing on one of the top level issues we are raising with china. the problem is right now china continues to recognize the problem. often when confronted the chinese leadership weather in the military or civilian government denied all these accusations and say we are the victims of hacking, not the american government so don't point fingers at us. cheryl: this comes after a month when president obama and the chinese president met at the resort in california all off the record and friendly. we had these problems with china before whether it was human rights violations or currency manipulation. nothing ever changes because they are of crucial trading partner to the united states and even though businesses are the financial threat of cybersecurity and seems to me

joe biden had a half-hearted approach to this meeting. >> it is difficult, a difficult balance because there's a theory of mutually assured destruction going on with respect to china and the united states government. china is doing a lot of cyberthreats and it is a problem for the united states but at the same time we are so dependent on the economy and vice versa the chinese with their exports to the united states it is like we are sweeping the problem little bit under the rug but i do believe the obama administration and many in congress are concerned about this and are looking to take more positive and possibly punitive actions against the chinese government. cheryl: the ceo of lloyd's of london did is global survey and frankly the number 2 issue that executives are worried about is cybersecurity and number 3 excuse me. executives are not worried enough about cybersecurity. do you agree? >> that is right. we are seeing more people concerned about a.

a number of clients are concerned about it and other surveys that show general counsel, number one risk priority at this point but you are right. a lot of chief executive particularly medium and smaller sized businesses don't understand the problem, can't even fathom that the chinese or iranians or whoever you want to name would come after them for their intellectual property so there has to be a better education campaign and better understanding what they are actually losing when they don't take proper cybersecurity measures. cheryl: complicated relationship made it so much worse this year but money is at stake. thank you for a take on these talks. at least some of the big names in media are talking out in sun valley, idaho. dennis kneale is live from the event with choice words with barry diller on controversial service. dennis: hello, cheryl. a 2 on the mobile watch at the

conference where guys who make millions of dollars in the media are told to shun the media. today we got some nice snags, disney ceo robert eisner came by, and meg whitman won't comment on whether they spin off printers. bill gates walking past the sand microsoft trying to turn the company into something other than slow-growing utility but then came barry diller and his wife and i have known him since 1987 actually gained to talk to us. his service got sued again by the broadcast networks in boston court and some broadcast network executive told me privately that ultimately they are going to lose. i asked about that idea, ultimately losing. give a listen. >> why would we ultimately lose when we already won twice? why would anyone think we would ultimately lose?

that is not our intent, all of this has been overblown because it is nice drama. that is not the case at all. if you are interested in -- what anybody the makes and distributes programming is interested in, should be interested in all we are is a benefit. dennis: basically steals broadcast network signals out of the sky and sells them to cellphone users without paying the network any cut. that is something cable-tv systems are not allowed to do legally. may be violating copyright but what the scheme does, put in hundreds of little antennas. long. hopefully that is thrown out of work. you have to wonder if it can expand its service because they are not free over the year. there is a limited upside profit so i asked at -- and

he was trying to shake up the network i will be back with more and more absurd suggestions. cheryl: thank you very much. we will be right back.

>> i am nicole petallides live on the floor of the to -- new york stock exchange the that the market averages we may set a record for is the height of the dow jones industrial average. 120 points right now. 15,420. you can see there is plenty of green on the screen. even disney with the flop of the lone ranger that was a

disappointment but it is up 4 percent this week so we use the green across the board even with the commodity gold has been out of favor lately but right now it is up $302. said even that has a perrault's for the most part you have plenty of green on the screen with this possible record-setting day on wall street. cheryl: we will see you at the top of the hour. microsoft today announcing a major reorganization of the company to better compete against apple, a google a and samsung in the hardware services business. writer i saw this this morning and i thought if they are rearranging the deck chairs with what seems like a raft move for steve ballmer? >> right.

certainly they have a large task in front of us but arguably they had to do something in this is what they are doing. there has been sitting in the water to extend that metaphor a and they need to get forward momentum so it is designed to do that and whether it will be successful or not we would not know for a long time but having said that i am not a fan of reorganization to begin with it does have a deck chair act. >> why not? he sees problems with the windows operating system aside they cannot break through a and it seems they cannot move fast enough. apple could not even move fast enough lately so they have to do something? >> right. look at the details.

they are putting all the hardware under one roof in you could say they should have done this a long time ago but we know that it is a different beast from windows but they are coming to share more dna with each other and we assume they will be the same thing with the concept is to give the consumer the same experience whether the phone or the tv. is a good start. we will have to see how that goes but it makes sense to do that. you could say that. cheryl: but kevin turner will still we the c00. they move things around with the engineers will still be in charge ballot there is that mass exodus of talent. what about blackberry? >> one of the things that is interesting is there are of

the functional lines that concept is the jury hear it human-resources there and that does make sense people are used to doing business with people in a certain way now it will be different and he did point out those relationships but also the informal relationships that are very important you have to undertake as well. it will be complicated i am not sure will be any better but microsoft will do what achaean to rearrange itself to compete better. cheryl: that is the next question. thank you. >> my pleasure. cheryl: in the era of unprecedented government surveillance what is funded by your tax dollars?

phone companies are charging wiretapping fees to allow the fed to listen to your phone calls. for each wiretap at&t charges a one time activation fee $325 then $10 a day. for rise in charges $775 for the first month and $500 each month after in the total bill as a taxpayer taxpayer, at&t estimated it collected $24 million of government reimbursement 2007 through 2011. verizon brings between three and 5 million during the same period. amazing. profiting. we have some ideas about the corn crop prices we will be down on the farm with jeff flock in we will tell you

about mortgage rates. it looks like they are moving higher. [ male announcer ] time and sales data. split-second sts. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪

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the pomp as of rising wheel prices with the peak driving season has the perfect storm. but the average price for a gallon of regular is $3.51 although prices in the stock market are higher per gallon than they were in 2008. nokia unveils its new smart phone with the mega pixel cameras at the best of the market. it will be available at at&t july 26. tripp 13. this is the latest from fox business, giving you the power to prosper.

cheryl: a brand new report shows a surprise buildup in the corn crop that is mixed news for the nation's farmers in jeff flock is down on the farm.

>> is always mixed news for farmers but this crop report is surprisingly good. there was a does much cord but more than they thought. >> i cannot believe that. >> but typically this time of the wrestle have some in the bottom of the bid but i heard of the wet spots like northwestern iowa speaking repair for it to be bad but it is in. look at this. is eyeball i. you are not tasseling yet but this is beautiful compared to last year. this is incredible we could have the been busting harvest finally. >> it looks like we will have one. we haven't for a couple of years but this has good color, .

>> all systems go. >> we say in the high by the fourth of july. >> it is not even one week after. the field and 156.5 bushels almost 14 billion bushels that would be a record. stockpiles higher than anticipated. cord is not doing so great was priced at it is great news for the farmers. they would rather raise a crop they had to get crop insurance. cheryl: we were looking at the contracts even if it is higher today. there is a lot going on with commodities. >> that is the july corn. that is what is already in stores. but if you look at the december contract that was down today and there is a

huge disparity between july and december almost $2 difference in anticipation of the big harvest. cheryl: thank you for this story. sticking with commodities looking at metal center move been pretty big from what bernanke had to say last night there is a lot going on today. i don't know where to begin. >> it will be better than that but ben bernanke's back again with his comments in what we saw had traders running into the gold market but it is also a silver we have coppery of platinum and palladium there's a lot of stuff coming on there has been a couple a strikes overnight in south africa.

a copper is a big we're talking tiny stimulus a lot happening with the metals right out. cheryl: watching oil another crazy story. >> the lot is happening with the oil right now with a pipeline and a demand story that could pay for itself. cheryl: we will see you next hour. now go to the new york stock exchange what is is happening? 50,000 -- 15,000, how much are you putting into the new record close? >> i would not bet the farm farm, it is impressive. but not to press the panic button needlessly but komer

heads are prevailing to go higher. it is very healthy after the pullback. but more importantly how was your trading going? cheryl:. [laughter] you read my mind. are you doing it? >> no, no, no. cheryl: my triathlon hero hero, thank you. called this an extreme morning light authorities in death valley national park are pleading with the visitors to stop fighting aches. -- trying aids. in the west coast and a.

cheryl: california public pension fund calpers will benefit names retirements retirements, and monthly pension payments and final compensation addresses and other sensitive information will be omitted by employee rights groups are citing privacy to stop the play and. alaska airlines are raising baggage fees to increase the cost from 20 up at $25 apiece the third bet will cost 75 now it was just a $20. the stock is higher by $0.73. in death valley national park a new warning. please stop frying eggs on the sidewalk.

park officials are getting bombarded with complaints they are constantly cleaning up the eggs on the sidewalks use up ian or tinfoil. isolda video warning on the facebook page by the way also record temperature 134 degrees recorded in death valley five years ago. and by the way, it works. eric is your west coast nipper could you like to buy course with or run? team at fox business is doing all three of those. i have been training all spraying with my colleagues to be in the triathlon this weekend. you know, liz claman and former fox contributor we are team fox business and are competing at this time

we're raising money for building homes for heroes. this is the hudson we will be raising many we have been showing tutorial that note -- videos. getting everybody excited with the great cause for the of mortgage free homes for those veterans returning from afghanistan they are brave men and women. a joyous and donate building homes for heroes. a big hour ahead do not this lou dobbs as they flex their muscles over to hurdles in congress also the latest polling numbers ahead of the state big deadline plus on the day like this bob is the

guy to talk to. stay with us. ♪

>> i m. adam shapiro. >> stocks jumping on them becky's remarks the dow and s&p 500 hovering near the closing high. and why we think the bull market isn't going anywhere fast. >> wheel is catching its breath and not after topping one had $7 a barrel less talk about the of pullback. lori: lou dobbs joins us as the house republican two-step bid on immigration reform