lori: washington's inability to get things done a major factor in the fomc decision not to tip which is 11 days until the government shutdown. we are live in washington with the latest on budget boondoggle. adam: the keystone pipeline off the stove. american petroleum institute's ceo with the decisions for the obama administration. what is now five year delay. lori: jpmorgan whales case, the cost of banking giant big, nearly $1 billion in fines. adam: we will head to the floor of the new york stock exchange to check in with nicole petallides and the s&p in uncharted territory. nicole: the s&p and the dow moving to record highs, into the red. not far off of the unchanged line and the main point of the

story is the moves by the fed saying they will not keeper moves, the markets to record highs after the dow and diaz and the all-time record highs and the nasdaq on highs we have not seen in 13 years. the market has been meeting beautifully and gold is out there. and other economic news jobless can lames' better than expected but they did rise week over a week and some computer glitches the revealing with and home sales and watch the move to a 6 year high and keeping a close eye on disney as it was cut over at morgan stanley to an equally overweight and disney pushed back a few films they plan on releasing as well. lori: species easy money they keep pumping into the system as inflation concerns on the rise of gold is jumping 5%, will it rally, would be short-lived? sandra smith has the trade from the pits of the cme.

sandra: bowlen sale, fires around the globe scooping up the precious metal because u.s. dollars are so cheap. a more money the fed brings the more bond buying they do, currency devalued and makes commodity like gold, silver, platinum cheap, a huge rally across the board, fast tracking on the big call heading into this announcement. they put out a note in response to their bearish call earlier in the week saying of the fed's decision leaves risks to gold prices as feud to the upside in the near-term. especially saying that gold could rally based on the fed monetary policies. the section of this morning by jeff kerri, head quality strategist, he dipped in his forecast for gold to fall to $1,050 an ounce. by an end of 2014, he believes there will be enough u.s. gross to warrant those prices and less accommodative fed monetary

policy. gold today unbelievable, up $65. silver prices up on a percentage basis even more, about 7% right now. people are buying anything they can precious-metals related. very weak u.s. dollar right now. webmac the recipe for inflation or deflation with analysts coming on to talk about that trend. thank you very much. adam: the fed shocked markets and investors by minting of a piece of monthly bond purchases but if they don't start keeping al, when will the the beginning? joining us to and it is the chief economist for first trust advisers and you stand december at the very earliest. why would you say at the earliest? a lot of people say not until 2014. >> that is good point. i was shocked yesterday, just shocked after three months of

allowing the world to believe capering was coming, the fed statement was the most beloved -- the most dovish statement talking about holding interest rates down low forever, to buy bonds and do quantitative easing, it was an amazing thing but then i look at the data today initial jobless claims love, philadelphia fed's survey, and very high levels, existing home sales do very well, and the economy will be stronger, and back sooner than most people think. lori: do you think quantitative easing in extraordinary monetary policy in place for years have been effective? >> i do not believe it has been effective at all. the powder reserve blocked

bonds, traded money, cash for bonds and put the cash in the system and typically the banking system would lend the money out but the banking system has not. the money supply, a measure of all deposits in the banks around the country has been growing at a 6% rate which is exactly in the 1990s. it was completely ineffective. it has driven the economy or stock market or all these things people believe it has. adam: i will quote your last book, it next to the 7 coming of christ and the chicago cubs winning the world series the end of capitalism may be the most predicted and expected event of humankind. that after tapering. with this stock are they out of control for the fed? do they have any control over what they're doing or has q e not worked as they expected it toward what they have to do to

stop it? >> great statement. they don't know how to stop it because what happens is when they talk about stopping it people get scared, market goes down, all those things happen and the fed reacts to the market's reaction by going oh know, are we going to hurt the economy? i think the fed really believes q e has helped the economy and a cascade to take away but all the evidence paquette says you see hasn't done anything to help us. all it has done is balloon the fed's balance sheet. banking system itself, what milton friedman told us to watch, the growth rate was 6% from 1995 through 2008 and it has been 6% since 2008. no matter what the fed has done in boosting its monetary base it hasn't translated into an increase in the money supply. lori: ridiculous tomb recommend ripping off the band-aid?

>> i think that is what we should do. i was so happy when they said they might taper, i couldn't believe when they did it. we should just stop quantitative easing, i think we should unwind it, give the bank back all their bonds, take all the cash we printed, run it through the shredder and end this experiment in monetary policy. i don't think it was necessary. i.t. don't think it is necessary in the future, zero% interest rates are more than enough stimulus to keep the economy going. adam: does it worry the it the banks are not as strong as we need them to be? >> isn't that interesting? we always worry what the fed knows that we don't. roll back the clock to 2007-2008 and what does it say? everything will be fine. they don't know anything more

than you know or your viewers or i do, they are guessing like anybody else, they addressed it all up with academic, mathematical formulas but in the end they are shooting spaghetti at the wall and seeing what sticks and it is more about politics with them than it is about really understanding how the economy works. if you are going to print 25% more money every year which they have done for five years you should expect the economy and inflation to be going through the roof and it is not so i would argue that is proof that q e doesn't work. adam: i am sure we will have the back as we approach december and see what the fed is throwing at us than. >> look forward to being with you. lori: they of reckoning for jpmorgan chase, its london whales fiasco. and the financial institution

having to pay $920 million fine and even had to admit wrongdoing $46 billion trading debacle. liz macdonald, you know what we're talking about. liz: good to be with you. $920 million split between four major regulators. look at the fines, office of comptroller currency gets the biggest, $300 million and the federal reserve, the sec and the u.k. regulator and financial conduct authority, second-biggest line ever by the u.k. authority. let's talk about what the sac had to say, caustic in its wording slapping jpmorgan chase in the fine statement today, essentials saying jpmorgan agreed to admit to wrongdoing, there were agreed to breakdowns in controls and governance that misled investors. also senior management broke a

cardinal rule that call into question the truth of what you disclosed to investors so misleading investors and regulators and the board audit committee, this scandal ramps up after jamie dimon and the fateful april of 2012 conference call, 10% and it campus in a teapot and we are full be transparent, comfortable with the trade and the senate committee came in and said after our program, jpmorgan chase was deceptive. this is also cost the bank in another big way. two former traders indicted, senior managers shoved out the door. $50 billion loss in market value, jamie dimon hit with a a cut, other breaking news, consumer financial protection bureau slapped jpmorgan chase with a fine of $309 million saying the bank misled credit-card customers into signing up for credit card

monitoring services they never gave written agreement to. now the bank has to fork back over that $309 million to its credit card customers, 2.1 million credit-card customers here. latest developments we will stay on this throughout the day. adam: sales of existing homes hitting a six month high as buyers rushed to cash in before interest-rate increase. august sought 1.7% increase to 5.5 million contracts being signed beating wall street's expectations but the national association of realtors caution buyer traffic dropped significantly in august meaning sales could slow in the months ahead. lori: a second jump in the largest drugstore chain, earnings of $0.03 a share in the second quarter by wall street estimates of $0.04 a share, checking shares of rite-aid up $0.72, expects fiscal year's

sales to eclipse $25 billion. adam: eight hundred million was the newest addition to the grand theft auto ceres, blowing past activevision's call of duty which held the record $500 million in sales, grand theft auto would have to sell twenty-eight million copies to take the title of best-selling video game of all time, a title held by activevision's first column do the game, and over 1.5%. >> nintendo passed away today. i will get more information on that because i note that it is quite a loss for the video game industry. follow upon that. problems with the iowa 7, some users are i rate in the software. adam: a shocking number of americans who will never retire.

lori: reaction to the fed complex metal bold silver copper, we head to break. my mantra? always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and meditions.

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adam: the dollar is down, and you are watching groupon. >> it is down 35 points after a stellar day yesterday setting a new record over the last 24 hours. setting new records, hitting a new high of $12.70 a share of the.7%, 1255 again of a dollar attributed at least in part to stifle nicholas this morning, made a great call from groupon, $15 price target raised to a buy rating from a hold and the reason we are doing this is talking about mobile commerce, continuing to see that growing, the transactions in north america today, groupon will that a beneficiary of this and as growth continues to accelerate, that will continue to contribute

to groupon's local business in the u.s. and disability in most european markets as well they continue to thing groupon will benefit and as a result they give a call of a buy rating for a new high and 1270 was the high today, their price target is $16 and heading higher. webmac time to make money with charles payne, talking polymer profits. charles: profits -- the graduate. dino you are too young to remember plastic in this case resin. i like this company because it is not a high flier stuff usually come up with, we are at $10 but it is one of these things where i think if you are going to play a gradual industrial global industrial recovery in a company that looks like it is getting its act together this might be a good

name for you. a whole lot of non-core businesses. the businesses they aaron, revenue of peer over year, operating margins looking pretty good and the stock is trading two times despite the enormous move. lori: would you use polymorphic? charles: use in any thing plastic based. and on the web site. and eastman chemical, the chemical companies, it is the core of everything that holds everything together. we are sitting on when you get in your car anything like that, they sell the actual product to the guys like dupont for eastman chemical, like the corps at the beginning, not as exciting or sexy but it is everywhere.

adam: there will be demand for the core ingredients. >> the core market is north america, asia, and those are two good places to be. it is not ait is a good one. lori: if it makes money -- adam: he is on top of that. lori: apple's new mobile operating system is getting rave reviews but only from those who are able to download it. a lot of iphone and ipad users were not able to download it or it took an exceptionally long time. adam shapiro is raising his hand. overwhelming the company's server. you have to expect that to happen to get this latest update and as developers simultaneously releasing their own updates for the new operating system causing many of us to have to wait hours. adam: even if you have wi-fi, someone took a screen shot, the verizon, sue byrdfast, and new

operating system. webmac oppose your e-mail backlog for years and years. charles: my employee showed me hers and it took three hours but once she added it was amazing. are they down today? they are down 2%. lori: the group users, much backlash because the whole world pounced on the update so -- mike charles: michael jordan scored 20 points. it would be the best in the world. there you go. lori: ever get your update? adam: no. i will try in a week. i rent my screen up 2%. oracle ceo larry ellison rocking the boat. what gets him from his company's earnings conference call after hearing the results you may not blame him. lori: road to nowhere leads to

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>> 24 minutes past the hour your fox news minute. at texas appeals court has overturned the money-laundering conviction of former house majority leader tom delay insufficient evidence. he was convicted in 2010 for illegally funneling corporate money via the republican national committee tell but republicans to the texas legislature. the ruling overturns a five year prison sentence for money laundering. the washington navy yard reopened three days after the mass shooting which a gunman killed 12 people. it is the regular day except for building 197 where the shootings occurred. they're still trying to determine why former reservist aaron alexis gunned down those people before being killed by police. hurricane man well soaked the northwest coast with heavy rain prompting evacuation this and rising the threat of more flash floods. 81 people have died so far from

those forms but another 58 still missing. those are your news headlines on the fox business network, get you back to lori and adam. lori: the countdown to a possible government shutdown marches on as house republicans plan to tie funding the government with defunding obamacare. to rich edson with the latest. rich: we have to figure this out in 10 or 11 days and we have an impact here as you look at what democrats and republicans are doing. tomorrow the house of representatives will likely pass a bill that funds the government through the middle of december and also defund the president's health care law. senate majority leader harry reid says any effort to defund the president's health-care law is dead on arrival so they will work out that part. looking into what happens with the impasse if the government shut down does happen on october 1st.

take a look at what is not shutdown, national defense is still funded, the maintenance of money and banking system and air traffic control and food and drug inspections, protecting federal property, guarding prisons, all that is actually funded even though the government is shutdown but there are certain things that are actually shutdown, doesn't happen that often but if you look at the mid-1990s you had 20 to 30,000 applications held up, 2 did thousand passport applications, millions of visitors to parks and museums all closed, federal contract were not gold out of a veterans' services like health, finance and travel was curtailed and clinical research was also helped. congress is working through that. another deadline coming up, the debt ceiling in the middle of next month. republicans say they want to attach a 1-year delay of obamacare to that proposal when looking at another impasse.

>> republicans have no interest in defaulting on our debt. none. we just want to find a way to pay off. >> republicans are determined to hold the full faith and credit of the united states of america hostage to their radical agenda. >> two major deadlines, no way forward quite yet. >> good times. thank you so much. dennis: larry ellison's votes were sailing, oracle revenues seemed were docked, larry ellison was too busy with his america's boat race and not the oracle second quarter earnings call. the company turned down 2% revenue but that was lower than analysts expected. oracle also forecast a weaker than expected outlook for the quarter ahead but they did well in cloud computing. that was up more than analysts were counting on. webmac latest and greatest in cloud computing.

larry ellison committed to his boat. that is a huge investment. dennis: he was number 3. dates, but, allison, good to be the king, he can do what he wants. lori: the fed challenge to bond traders, new forecast whether 10 or 30 year yields will land, looks like jordan. dennis: five years and no action, american petroleum institute ceo jack girard on the keystone pipeline hold of the washington d.c. and what it is going to take to get the project and running. ♪ let ♪ let my customers can shop around--

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minutes. let's go back to the floor of the with nicole. nicole, what are you watching? >> the fed decided not to taper after this latest policy meeting. we're seeing the dow back into the red once again because of what we've been seeing with jpmorgan under pressure today having to pay out some fines. so that is what we're watching very carefully. we're also watching dow component boeing because that is a different picture, guys. this one has an up arrow and hitting a new high, all-time high for boeing. right now it is up about 1% at 119 and change but when you look at boeing, you got to remember here, big news here that they are getting more and more orders. they did have air lease which finalized an order for 33 dreamliners. also the fact that lufthansa announced an order for 59 airbus and boeing body jets. that is worth $19 billion. we've seen as a result boeing moving to $119.38 a share.

great for shareholders. they love to see new highs. back to you. adam: nicole petallides, thank you very much. it has been five years since transcanada filed with the state department to extend the keystone pipeline and after four governmental reviews found keystone to be environmentally safe the obama administration still balks at approving the pipeline. joining us today to discuss this american petroleum institute president and ceo, jack girard and more on the keystone pipeline and what it can mean for the u.s. economy. when you read articles there are a lot on both sides but one thing they agree it would create jobs. for how many, how long, and how much? what is the dollar figure that would be commensurate with those jobs? >> adam, when you look at it overall. we though it is thousands of jobs. some estimates high as 340,000 for construction of the pipeline and -- 40,000. and added multipliers. others are around 20,000 range. the point leading to the story is the most important one. we all agree it's a job creator.

that's why we're disappointed. today is the fifth anniversary. there is no cause for celebration because we still don't have a approval with one simple yes on the part of the president, we would be about creating thousands of new jobs. making us more energy secure. we hope the president will take action. there is bipartisan support for it. it is good for the country. it is over an $8 billion investment. it is the largest infrastructure project in the country today. adam: jack, let me ask you this. i'm going to quote from those who are opposed to keystone because you used kind of red flags for that camp. one, energy security. and, good for the country. it doesn't really make us energy secure because the oil would be refined down in louisiana on the gulf but then shipped to china and to south america. it wouldn't be gasoline or petro products in united states. i'm not sure how that plays into energy security for the united states. but then when we also talk about good for the country, the environmentalists would say

there have been some leaks. there are existing sections of keystone in operation now. some articles talk about how well they have functioned without any problems but there have been some leaks in the southern extension of it. so what do you say to those people who raise those issues in opposition to it? >> well my first reaction, adam, that is red herring argument. let me tell you why. the first one as it rights to job creation and economic activity. think about it, today we're 40% dependent on outside sources for our oil. that is down from 60% just a few years ago. so the more we import from canada, the less we rely on outside, more volatile parts of the world. that is the first point. adam: but jack -- critics would say what you just said, that canadian oil will not be used in the united states. it is going to create jobs in the united states. the refinery of that oil but that final product gets shipped to the china, gets shipped to south america. that is what is intended right now for that oil. >> let me dispute that as well.

adam: okay. >> that is fundamentally not true. because our capability, our refineries in the united states today are the best in the world. state of the art in the world. i think the more fundamental discussion that is important to focus on, this oil in canada is going to be produced. we see it today. it is coming in by railcar. adam: right. >> for hose who are critical of green house gas emissions it is estimated bringing it here by railcar increases green house gas emissions by at least 8%. so if we're serious and we're honest in our conversation about science, it is going to be produced. it is produced most efficiently, most effectively and most environmentally and in a safe way right here in the united states. the majority of that, as other experts have already testified, will be used in the united states. why would you import a product, create it here, refine it here, and not use it here, if you're still dependent for 40% of that product from other countries? adam: i think they would answer

because they don't refine it in canada because the cost is prohibitive and it is cheaper to refine it here. >> cheaper -- adam: no one disagrees this would create thousands upon thousands of jobs here in the states. >> that's right. it is creating thousands of jobs right here but again back to your other point, it makes us more energy secure as we expand that relationship with the canadians as opposed to that going elsewhere in the world and the fundamental laws of supply and demand, as much as our critics like to talk about, the more supply we bring to the marketplace, the more downward pressure it puts on the price. that's what we need to focus on as a benefits all consumers at the same time, creating thousands of jobs. adam: that and the fact that the administration is ignoring its own administration's recommendation for approval and now five years of delay. jagger regard, thank you very much for joining us. >> good to talk to you. adam: good to talk to you, sir. with more on the five years of

delay for the keystone pipeline don't miss with melissa francis interview with the transcanada's president of oil and energy pipelines. she has got him and you can watch it at 5:00 p.m. eastern right here on fox business. the fed is standing pat but the treasury market doing anything but. wild swings for the 10-year treasury which is backing off after rallying the most since 2011. lori: jeremy hill is next on how much this will limit the upside on yields next. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fiy thousand dollars. congratulations you are our one millionth customer. nobody likes to miss out. that's why ally treats all their customers the same. whether you're the first or the millionth. if your bank doesn't think you're special anymore, you need an ally. ally bank. your money needs an ally.

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viagra. talk to your doctor. >> i'm cheryl casone with your fox business brief. mortgage rates declined for a second week in a row with the 30-year pulling back to 4.66% from last week's 4.71. as recently as may 1st the average 30-year fixed-rate was more than a full point less at 3.5%. colt will hire about 353,000 associates this holiday season. that is the about the same number the department store chain hired last year, average of 40 jobs at each store. they will hire this month and fill most jobs by mid-november. jobless claims rose to 309,000, from the previous week's revised count of 349,000. this week was below the estimate of 330 but expect revisions next week since california and nevada report a backlog of claims due to computer issues. that is the latest from the fox business network, giving you the power to prosper.

adam: latest headline for you. we're learning about reports after magnitude 5.8 earthquake which shook the fukushima prefecture. that is in japan and the site of the nuclear disaster not after a tsunami. there are no tsunami warnings as of right now. no confirmation from the u.s. geological survey but we are hearing from the japanese sources that there was a magnitude 5.8 earthquake. lori: shifting back to the markets now treasurys leveling off in today's session after rallying the most in almost two years after the fed, as you know by now, unexpectedly surprising everybody and maintained pace of monthly bond purchases. so what should we expect from the bond market as taper talk continues? let's turn to jeremy hill, managing partner, fp market advisors. jeremy, thank you for joining

us. >> pleasure. lori: your comments this was more dovish fed event than you even thought could have ever happened. pick it up there. >> the fed almost took us back to anti-deaf louvreian times and loaded noah's arc and it didn't happen. i don't think it is seen in today's action. we had a big selloff in the 10-year yesterday. now we're seeing a little bit of ratcheting back up, that notwithstanding the fact that they fomc was extraordinarily did you havish, taper will probably still happen in october or a little bit further out. adam: you wrote in the note qe is not working the way it was intended and may be deflationary rather than inflationary. i think people hear that kind of thing are worried about the value of their homes and 401(k) investments. does the fed have control over the situation or is it now out of control? >> well i think it depends who you ask.

certainly the bond vigilantees played a role recently and that is not always a comfortable scenario for the fed but if we look what is happening to the real economy versus what's happening to wall street, certainly the thing i think the fed focused us in on yesterday in a way that they hadn't done previously was the fact that higher rates are definitely a danger for things like housing, for banks, et cetera, et cetera and i think when we bring it back to their kind of calculus on when to stop non-traditional monetary policy, they're thinking to the only about just abstract numbers but also how it affects main street. chairman bernanke demonstrated thats over and over again. lori: you talk about the bond vigilantees this rest the people who bought rates, sold treasurys so treasurys would rise to 10-year benchmark of 3%, the time the last housing report, i'm sorry employment report came in stronger than expect,

correct? >> that's right. lori: what about with bernanke saying all the jawboning it will not be qe infiniti, it will stop at some point and we will raise rates down the road? so do you think that the vigilantees will step in before the actual taper happens? >> well i am not certain that's the vigilante trade. i think more that just, your run of the mill buy and sell side banks, brokerage firms, hedge funds, they will position themselves still for a taper. so we're seeing again the 10-year up a little bit today. we're probably range-bound until we get a little more thinking, a little bit more digestion what happened yesterday. adam: you broke your own rule. you just said taper. i know you won't use that word in the future. very quickly, so if we're already watching the yield on the 10-year treasury go up, seems if you're looking at a mortgage now's the time to lock if but if you wanted to make money on this where? bonds, oth? >> we really think high yield

can benefit in the short term right now. high yield has basically an average duration of about five years. the five-year point in the treasury curve is, what we think is a little bit of a sweeter spot right now. and some of the high yield bonds, they might really benefit from, just a more risk-on market not to mention perhaps some lbo activity and also, you know, you have to remember high yield bonds tend to be idiosyncratic in nature. lori: thank you so much, jeremy hill. talking vigilantes, leveraged buyouts, all kinds of fun stuff. we'll have you back soon. >> we won't use the "t" word, jeremy. we'll talk markets and do that with jason weisberg on the floor of the new york stock exchange. jason is there anything that's catching your eye today that we might be ignoring? we're all talking about apple but is there anything else out there? >> a lot of downtrodden social media stocks seem to get traction here. that is one area that sticks

out. your previous guest mentioned people are trying to digest yesterday's shocking news. there is a lot of that going on as well. i think, basically people are trying to position themselves and trying to figure out, you know, people that have been hedging against the equity market are trying to figure out how they are going to chase, you know, yield between now and the end of the year. it will be tougher and tougher. will it be a violent chase upward to get some yield because indexes are outperforming most people that have been on the sidelines. adam: jason, facebook hit a new high, pulled back a bit but doesn't sound like facebook investors are not getting intoday guess shun as they digest the fed's latest decision, does it? >> but to be fair, patience those who wait and people that held on are being paid very nicely right now. adam: jason weisberg. thank you very much. lori: as we mentioned earlier or i should say my stream of consciousness mentioned. here is sad details in the world

of gaming. the man who led anyone tend do i for 50 years has passed away. he was 58 years old. he oversaw the japanese company's transition from a playing card-maker all the way to a videogame giant and helped develop the first gameboy, remember that? the former nintendo chief was also famous in major league baseball circles, seattle mariners before selling it to the nintendo unit back in 2004. adam: burned by regulation the fallout from obamacare and new calls for raising the minimum wage. we'll talk to the ceo of california pizza kitchen about all that. lori: also in the nasdaq it is still in the green. the tech-heavy index take out or check out rather the big winners. ♪ nascar is about excitement. but tracking all the action and hearing everything from our marketing partners, the media and millions of fans on social media

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lori: major headwinds facing mid-sized american companies as they try to navigate everything from obamacare to rising minimum wage. these are the issues facing mid-market companies are the focus of ge capital road show for growth which next week will stop in san diego to meet with california pizza kitchen. the kept's ceo, dj heart joins us now. so wonderful to have you joining us. >> thank you for having mee. lori: there have been as you know so much focus on luring high-end consumer, correct? why are companies like yours, cpk, looking for more business from the middle class? >> well, listen, the middle class is a big important part of the economy and there our guests as well as the high-income folks, yes, sir. yes, ma'am. lori: all right. sounds like we might have a little bit after audio glitch. can you hear mee clearly,

mr. hart? lori: i can hear you fine. let me follow up what is going on in washington specifically with the health care laws the obamacare situation. looks like there is so much debate whether or not there is good thing for our country, that for consumers that it could lead to ultimate government shut down. that said, where does cpk stand on this? is this good for your employees? >> for our employees we want to do the right thing and provide insurance for those that need it. obamacare is a program we think will increase some of our costs but we'll adapt accordingly. and we're, we're making plans for that now. lori: what does that mean adapt accordingly? have you had to lower headcount, employment roles? have you had to shorten shifts? >> listen, we're all about taking cpk currently and bringing it relevant, what we call taking recipe for reimagination which is bringing the best of cpk forward to 2013 and beyond and giving our guest what is they want and experience

that is phenomenal. we're doing that through our people. so no, we're not cutting people. in fact we're hiring people. and in through this whole process we're very exciting about where we are. and our first two models of this, one in florida, one in california, are doing very well. lori: so obviously jobs and wages are also front and center in this nation's discussion right now. so how did you feel about the fast-food workers asking for a bump up in minimum wage or just to their wages? how would you caringize the wages that you pay cpk workers? >> well we obviously comply with minimum wage laws where they are. we have tip credit state, non-tip credit states and we adjust accordingly. at the end of the day it is the overall experience. we're in the food and hospitality business. we have a full-service concept. so people are at the center of what we do and we need to make sure we keep them happy and create a culture where they want to be a part of this organization and very different than fast-food where, you know, it is, you come in and get out

quickly. we create a whole experience and, and so for us it is making sure we keep our people happy. lori: on a personal note, gj, the best thing about cpk, i can bring the kids in, they can be rowdy and they can color and i can have a glass of wine too. >> amen to that. lori: thank you so much. adam: turning our attention to your investments, what to do with your portfolio after the fed's no-taper surprise? blackrock chief strategist ross cost risch shares his -- russ koesterich, shares his tips next. this will help you change the future. from capital one, bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card. [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call.

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mid-size price. (aaron) purrrft. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. ashley: with welcome back to "markets now", i'm ashley webster. tracy: i'm tracy byrnes. stocks drifting after surging to record highs on the fed's taper delay.

blackrock's russ koesterich says that is the third bullet the markets dodged this month. how is he playing the market? we'll find out. ashley: the london whale bill jumping another billion dollars for jpmorgan. but settlement could lead to even bigger changes at the bank. he will be along in just a minute. tracy: house speaker boehner pushing victory to defund the government by defunding obamacare. georgia congressman tom graves is our special guest. ashley: as you look at government shutdown clock. look at stocks after an amazing run yesterday. drifting lower today. let's get down to the new york stock exchange. nicole petallides, with stocks, takeing a bit of a breather, i guess you could say. >> indeed. no one wants to hear about debt ceilings, government shutdowns. what we're talking about the equity market, been a great, great run hire, up about 20% this year, for the major averages, give or take and the

dow and s&p and nasdaq all have down arrows at the moment. but they have hit record highs this week. even nasdaq and s&p and making new highs as worth noting. s&p all-time high. stellar run from the heels on the fed. they are not tapering and some of the dow components that hit some highs on their own, right? we're talking about boeing, which has been looking good and getting more and more orders, just most recently. 48 new orders for the week of september 17th. there is buying at 118, one analyst, cowan puting a 140 price target. united technology jumping after not doing a deal with rolls-royce. 3m at highs but pulling back a little bit. back to you. ashley: nicole, thank you. gold prices surging on the fed move to keep easy money flowing. we'll look at gold. it is up significantly the last couple days. how about 56 bucks? 1363 a troy ounce. a lot of people called out by the fed decision yesterday on the wrong side of this deal.

oil moving in the opposite direction as you can see. crude down to $106.54 a barrel. tracy: september has been long known as the worst month for stocks. but this year, it is anything but. so throw out the history books. the s&p 500 is up more than 5% so far this month. so with the fed decision or, pretty much lack thereof, hyped us, is there anything in wall street's way to stop this market from keeping going? blackrock chief investment strategist, russ koesterich with us now. russ, i think most people agree that the fed missed its opportunity to taper without a market pullback. if they go taper in the future, are we going to see a big pullback before the end of the year? >> i don't think so. i think what we had yesterday is not just a delay in the inevitable, but also a pretty clear signal that the fed will take their time. they were very clear about this. they're still concerned about the pace of recovery.

they're concerned about the effect of higher rates on the housing market and because of this, they're not going to be in a rush to withdraw a combination. even when they do this later this year or early 2014 it is probably going to be a very measured pace. so i think for the time-being at least fears of the fed are less of an issue than they were 24 hours ago. tracy: okay. and you make a great point we dodged, in your words three bullets. syria, summers's nomination and of course the fed tapering. what is the next bullet coming down the pike that you're worried about? >> it would be nice if there were none but unfortunately we have to go back and think about washington. rather than focus on the fed turn attention to two miles in a different direction on capitol hill. obviously the next hurd dill for the market will be in congress. two questions, one, can we pass a continuing resolution to fund the government? the existing one expires on september 30th. we have less than two weeks. then after that, arguably a even

bigger battle which is the fight to raise the debt ceiling without which we're going to see pretty significant market reaction. tracy: does any of this change your investment strategy going foreward though, or do you still stay the course? >> i think we generally stay the course. there are a couple of things that i think would shift. generally we were surprised the fed didn't yesterday but basically it is consistent with our view of rates remaining in a relatively range-bound market for the rest of the year and a slow recovery. i still think that favors equities. it favors some equities outside of the u.s. like emerging market s which surged yesterday. defensive stocks and gold, that we expected to come unpressure they will probably do better for the short term as investors are less worried about rising rates. tracy: let's go back to the emerging markets point. emerging market etfs up 4% alone yesterday, big move yesterday, right? >> big move.

tracy: tapering, helps the emerging markets going forward. how do you play the emerging markets up until the tapering? >> well look, the key with the change in expectations is that the emerging some near-term pressures. there is still a very interesting long-term fundamental story and they're still good value but i think what is important for em equities, if we're in environment where rates rise more slowly and not by as much that takes near term pressure off em currencies and probably gives them breathing room. we like em as a long-term story. you will see better performance near term to the extent we see less pressure from the fed. tracy: you say em. let people know that is emerging market. do you play the whole sector as a whole and buy an etf and play the whole thing or do you pick countries? >> there are a couple of ways to play this. obviously having broad exposure makes sense for most investors. two other thoughts on a regional basis. we do like parts of asia with

china who we think look inexpensive right now. then we think about emerging markets. we see very good opportunities in dividends. you know, many of the dividend opportunities in the u.s. are a bit expensive. we see better opportunity in dividend stocks outside of the united states, in places like europe, developed asia and emerging markets where you can get a dollar of yield for a much lower price. tracy: i like that. i also like technology and energy. russ koesterich, blackrock chief investment strategist, that is good stuff. thank you, sir. >> thank you. ashley: well another clock ticking down to a possible government shutdown. house republicans are pushing forward with a bill that ties funding with the government with defunding obamacare. rich edson on capitol hill following every twist an turn on this story. rich? >> good afternoon, ashley. tomorrow the house very likely passes a bill that funds the government through the middle of december but also defund the president's health care law. that's something democrats say they oppose. so you if you listen to the

rhetoric of both parties, government it seems is going to shut down on october 1st. that rhetoric shows us it looks like we're headed that way. >> we'll deliver a big victory in the house tomorrow. then this fight will move over to the senate where it belongs. i expect my senate colleagues to be up for the battle. >> i want to be absolutely crystal clear. any bill that defund obamacare is dead, dead. >> in all likelihood reid and senate democrats will strip out that obamacare defunding language, perhaps, return to the house a bill that just fund the government through december 15th. and house speaker john boehner would have to have the decision whether or not he wants to have a vote on just that bill or, allow the government to shut down. that is something that speaker boehner says, well, let's see what the senate does. possibly an opening there. we'll see how this plays out. if the government does shut down on october 1st, there are plenty of government services and options that continue to remain open. social security checks, for example, will continue to go out. law enforcement, excuse mee, the

banking and monetary systems, the maintenance of that will continue. tax filing and collections will continue. guarding of prisons, criminal investigations, power distribution, things like that will all continue. however there is plenty that shuts down like law enforcement recruitment, bankruptcy case work, parks museum and monuments, federal contracts and visa, passport applications would shut down. that is the experience in the 1990s. we still have what, 10, 11 days? back to you. ashley: we do but time goes quickly. rich edson, in d.c. tax collecting. thank you, rich. >> i think that's a funny. don't go to europe during that time because you can't get a passport or visa. ashley: that's true. tracy: we have follow up with the story. we have gop congressman tom graves. he is one of the first to tie the shutdown with obamacare. he is our special guest next. ashley: jpmorgan paying another $900 million in the fallout from the "london whale" but finance expert josh rosner says today's

settlement is different from all the others. he will explain next. but as we head to the break let's take another check of the oils and metals. as we have shown you oil down today 1.25% to 106.73 a barrel. we'll be right back. [ male announcer ] sheets or bar? how do you get your bounce?

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ashley: hasn't been a great day for jpmorgan. paying nearly $1 billion in fines, in fact more than that all told. we have the "london whale" trading fiasco. my next guest says look, the trouble isn't over yet for the bank or its chairman and ceo, jamie dimon. let's bring in josh rosner, managing director analyst at graham fisher. josh, we were saying 920 million in fines to four different regulators both here and in the u.k. where the london whale trade happened. they also settled we understand again on some credit card issues for over 300 million. that is 1.2 billion. that's a lot of money. >> right. that's a lot of money and again it has been racking up fines, paid out between 2009 and 2012 they paid out 12% of earnings in fines and north of 20% in litigation expense.

those numbers just keep rising. this one's different though. ashley: yeah, because in the "london whale" case they admit wrongdoing. how significant is that. >> well, i'm not a lawyer. don't play one on tv. i would expect it is fairly significant. it opens them up to whole another round of prosecutions, both private action and potentially government action. ashley: in that case we have not heard the end of the "london whale" disaster? >> i don't think we've heard the end the "london whale" disaster. this company has a lot of dust kicked up over internal controls. dimon is really starting to try to address those head on but it will cause significant increase in g and a, general administrative expenses and a lot more in settlements i suspect. ashley: you mentioned jamie dimon. what does his future hold you think? >> i have no idea. i can't imagine why he would stick around for the long term here. ashley: yeah. >> you've got a company, first of all has very little top-line growth. most of the growth has been

coming from besides trading is cutting reserves. it has been from cost cutting. costs are starting to go up. still not a lost top line opportunity. not a lost loan demand in the economy. i'm not sure why anyone would want to oversee that and law of large numbers. you have a company 1/9 the size of the entire u.s. economy. ashley: yeah. >> to expect it to grow at significantly higher rates than the economy without leverage becomes tough. ashley: so you think he could be retiring maybe in the next year or so is it possible once we get through this period. >> it would be an absolute guess but i would not imagine to choose to in 18 months. ashley: has he lost a bit of his credibility? he was one of the most outspoken critics of regulation and tempest in a teapot conversation about comment about the "london whale" situation. has he lost a bit of cachet? >> not with the stock price. with all the problems coming up. that said in washington i get a very strong sense the answer is yes. where he was really was seen as the voice of the systematically

risky, too big to fail banks, that is now being downplayed. that is opening the field a little bit to hose to are calling for end to anticompetitive too-big-to-fail banks to walk in even more. ashley: what are the chances the jpmorgan being broken up? >> i don't think the chances of anything being broken up are anything we need to worry about soon. we'll watch them by choice move to much more focus on core business. getting rid of non-core business. that said, pressures are rising for regulators, fed specificallytoring put in place title one of dodd-frank and title one says, we need a living will that would show how these institutions could be put through bankruptcy. we haven't completed that process. at the point which we do and it many about really apparent which parts can and can not be put through bankruptcy. then we may see a press to break off those businesses.

ashley: not anytime soon is what you're saying? >> not anytime soon. ashley: okay. it is not the only bank in the cross-hairs. there are other banks, maybe not the extent of jpmorgan. >> right. remember, a wells fargo is example, really is pretty much a traditional bank. ashley: yeah. >> doesn't have as many far-flung businesses. ashley: right. >> consumer and commercial bank. if you look at citi, you've got management in there who really has started to change the culture, is starting to really narrow the focus, get rid of non-core businesses proactively. so it is really b-of-a and jpm who are in the process and b-of-a's problems were mostly mortgage and i can guaranty you they are at the peak of that. ashley: josh, we appreciate it. thank you. >> thank you. tracy: as we said a very expensive day. ashley: not a good day. 1.2 and a bit, billion dollars in fines. tracy: i have $5 in my pocket. can't help him. it is a quarter past, time to get a check on the markets with

nicole petallides on the floor of the new york stock exchange. nicole what are you looking at? >> tracy, ashley, major market averages dow and s&p are to the downside and nasdaq composite is gaining. looking at both groupon and apple, let's kick it off first with groupon, up 9%, huge move for groupon. these shares have been jumping. stifel-nicolaus came out and put a new price target of 16 bucks. they love mobile apps and e-commerce with stability in europe. all of this and the trend of the apps for e-commerce bodes well for groupon, a real winner today. and a 52-week high that is worth noting. over the last year, the stock is up 115%. let's move it on over to apple. year ago today was the closing high of apple at 702 and change. today it is at 474 and change. so apple shareholders don't want to hear that in particular. however, they continue to work on new products. the lead designer just did an interview with "usa today" and

said he is working on something new. let's find out what it is. you see shares today up 2%, tomorrow you can go to the stores and get the new iphones if you're interested. tracy: thank you, nicole. we'll check back with you in 15 minutes. did you do your up load? ashley: why? tracy: i'm afraid. ashley: will blow up on you? tracy: who knows. ashley: don't be afraid. be brave. tracy: i will try. looking to take on obamacare. several major hospitals in the northeast are joining forces. this is a sign what is coming across the country? we'll take a look. ashley: look how the u.s. dollar is moving today. as we know it went down big-time against at love currencies when the fed said, tape every not so much. ereuro is moving higher. elsewhere all these other currencies moving lower against the u.s. dollar. we'll be right back.

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>> at 22 minutes past the hour i'm arthel neville with your fox news minute n a fox news exclusive, syrian president bashar al-assad says he is fully committed to the plan to turn over chemical weapons. he said it could cost a billion dollars to do so and it won't happen overnight. >> some say take one year. i didn't say years.

as i heard, it takes about one year, maybe a little bit less, a little bit more. caroline kennedy says she hopes to carry her father's legacy forward if she wins confirmation as the next u.s. ambassador to japan. kennedy faced gentle questioning from both republicans and democrats on the senate foreign relations committee, suggesting she faces no obstacles to confirmation. officials say a $400 million winning ticket in the powerball drawing was sold in central south carolina. it is the largest, the fourth largest jackpot in the game's history with a lump sum cash option worth $233 million. that ought to get your head swimming, huh, tracy and ashley? ashley: the dream is alive. >> it is, it is. ashley: i hope to be related in some way that's for sure. thank you. tracy: arthel neville, thank you etch. could be the start of a new trend in health care.

seven major hospitals in new jersey and pennsylvania are joining forces to take on obamacare. the knew alliance called, all-fire, says the new health care law mark as call to action for changes in the industry. joining us is chairman karen kessler who also chairs the board of new jersey's atlantic health systems. and ronald swinford, of the eai -- lehigh healthnet work in pennsylvania. i'm a lehigh grad as everyone knows because i say it all the time. first start why do this. there are seven excellent hospitals. hackensack university is mine. meridian, wellspan, atlantic, lancaster, who did i miss? reading. >> we're almost 30 hospitals and seven systems so we are a lot and we are almost 350,000 in terms of our employees and their families. tracy: six million people served. >> six million people, yeah. tracy: $10.5 billion in revenue

will come from this. why do this? what was the need for this, doctor? >> well, we've known for a long time that health care expenditures in the united states are way out of line compared to the rest of the world per capita expenditures and we've tried various initiatives in this country. we tried capitationings. we tried managed care. we tried various things the institute for health care improvement issued a edict a few years ago called, the triple aim. our object any of it -- objective in health care to reduce cost and expense, raise the quality of the care around engage the patients more in population health sense. tracy: to educate. >> to educate. anytime you get into a discussion about controlling health care costs someone raises their hand and says, well doesn't the patient have some responsibility here? tracy: quite frankly i agree completely. interestingly enough though, this was not addressed in obamacare at all. we, all we talk about are cutting costs. there was nothing to talk about

teaching people how to take care of themselves. >> in many ways i think we, especially as not-for-profit hospitals are ahead of the curve. we're been talking about how to get our employees healthy. should be role models for the community. we have very big community health initiatives. we're already out there working on those kinds of issues. this will allow us to learn from each other what are the best practice much and what we take from one community to move to another. tracy: how does the patient benefit then? do you have a join something? >> no. our independent, seven systems are still independent, still provide high-quality care as you made the observation earlier, these are all high-quality institutions. so the high-quality care each system will provide will continue but we each have best practices and each have areas of specialization or areas that we are exceptional. we can share those, spread those across the seven systems. help to reduce expenses, help to raise the quality, and, make the health care better.

tracy: so, karen, i guess it was of the top 50 in the nation, hackensack, one of the things they excel at, orthopedics. let's say i am in a hospital and at lehigh and have a orthopedic issue somehow you will connect mee with hackensack? >> no. sometime in the 30 hospitals you have a heart attack you will be treated the same. outcomes will be the say. we'll take what anyone does best and learn it. tracy: all learn. >> exactly. there will be a level of consistent care across these seven ultimately that will be among the highest in the nation. tracy: so that means in this areas you should be can comfortable going to any of these hospitals? >> absolutely. tracy: i think it's a great idea. did this start with obamacare and affordable care act knowing it will not fix the problem? >> anyone in health care, i'm on the board but i'm also a business owner, i see my costs going up. everybody is talking to each other, saying what should we do and what can we do? when we find other kinds of

hospitals with the same kind of quality and commitment, we start talking aren't there ways we work together to come up with solutions? that is where this happened. the group kept going and we're really very proud. we picked our partners very well and we think we have exciting news ahead. tracy: before i let you all go, do you think this is a trend? >> it already has become a trend. there are a lot of systems that combined. georgia put together several hospitals across the entire state. we use some attorneys that help put together the b.j. c out of st. louis, barns christian systems center out of st. louis. they put together a collaborative of three systems. we're more in the middle of it than on the front of it. tracy: just a little bigger. karen, ronald, thank you both for being here. >> thanks for having us. ashley: interesting stuff. he is behind the push behind the government shutdown choking funding for obamacare. republican congressman tom

graves says why the two go hand in hand. he is coming up. tracy: the users guide to education. gerri willis es looks as at if a one-year degree can pay off as much as a four-year degree. before we go to break look at winners on the s&p 500. pitney bowes up almost 5% today. the dow is down 39 points. we'll be right back. um... where's mrs. davis? she took an early spring break thanks to her double miles from the capital one venture card. now what was mrs. davis teaching? spelling. that's not a subject, right? i mean, spell check. that's a program. algebra. okay. persons a and b are flying to the bahamas. how fast will they t there? don't you need distance, rate and... no, all it takes is double miles. [ all ] whoa. yeah. [ male announcer ] get away fast with unlimited double miles

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ashley: all right, welcome back. breaking news, oil closing down $1.68 today finishing $106.39 a barrel. that, by the way, is a loss of 1.5% on the day as gold has gone up and continues to skyrocket higher. oil has turned in the other direction. tracy: let's get a check on the

markets. 90 minutes til the close, nicole petallides on the floor of the new york stock exchange. >> reporter: hey, guys. things have been looking good this week, we did hit some record highs, however the dow jones industrial average down 44 points at the moment, the s&p 500 hit record all-time highs today, also pulling back, and the nasdaq still holding on to just a slight gain for the moment. want to take a look here at tesla. we can't stop talking about tesla. well, one of the reasons is the stock continues day after day, high after high. year to date, this year, it's up 430%. today we're hearing and seeing -- reading from deutsche bank where they reiterated how much they're hot on tesla, they put a $200 price target, the stock hit a new high as we noted. so they talk about on track for expectations for the margins. don't forget, they're working on an autopilot vehicle as well so you don't even have to drive anymore, back to you.

ashley: that would be good. tracy: imagine, i don't even have to drive anymore. i just can't. ashley: i didn't hit you, the car did. tracy: i would sit in the passenger seat and read and drink coffee. ashley: money and time restraints keep many from getting a four-year college degree, but gerri willis is looking at how you can graduate faster with all the same qualifications in her user's divide to education series. interesting, how much faster are we talking about? >> like a year, imagine that. ashley: four-year degree. >> jay cross called a web site, do it yourself degree.com, and you don't have to always do it the old old-fashioned way whereu go to school for four years, for goodness sakes. what he did is he took tests which he passed for course credit, and that credit applied to a diploma. so you have to find coursework that you can take these tests in, go take the tests and, ultimately, get your degree much

faster. obviously, you have to study for those tests, you have to go to a university. a proctor will administer these tests. this doesn't work in every discipline, but in disciplines it does. tracy: so who's the degree from? >> a local or state regional university. tracy: so it's a legitimate degree? >> it would be recognized for employers, and in some fields of endeavor it might make more sense than others. we were talking about software, if you're in technology everything changes in six months, and cross tells an interesting story about how he was at the university of connecticut, and he was in the middle of the program there, and he had 30 credits left to get, and they told him we're not giving those courses right now. so it's like what do i do? ashley: he was stuck. >> so this is when he started researching this and decided this is the way to go, this is what i'm going to do. we're going to have him on, talk about it. i know parents are looking for shortcuts. what if you could reduce your child's program from four years

to three or two? wouldn't that be great? ashley: and the costs would reduce significantly. >> this is sort of like advance placement, if you guys remember that. we're also going to be lynn o'shaughnessy on talking about some issues to work through, get to, where to find work price calculators not the sticker price but what the real street price will be for you, your income, your child. so lots of details there. ashley: great stuff, as always. thank you, gerri. don't miss "the willis report" tonight at 6 p.m. eastern time right here on fox business. a one-year degree, how about that? tracy: if only. i think i was in school for, like, 50 years. [laughter] coming up, our report small business, big ideas, we're going to meet one chef trying to revolutionize frozen foods. ashley: plus, countdown to a government shutdown. georgia congressman tom graves says we should delay obamacare in order to keep the government running. democrats disagree, of course. he'll be joining us ahead.

but first, it's time to check those 10 and 30-year treasuries. we'll be right back. [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪

♪ ♪ >> i'm jo lin kent with your fox business brief. today marks five years since transcanada applied for u.s.

approval for the keystone xl oil pipeline. the project would carry oil from alberta to the u.s. gulf coast refineries and is still awaiting president obama's decision. and coal's says it will hire about 53,000 associates this holiday, about the same number they hired last year, an average of 40 jobs at each store. cole's says they will fill most of the jobs by mid november. and existing home sells hit a six and a half year high in august. home resales increased is 1.7% in august over july to 5.48 million. that's the highest levels since february 2007, and that's the latest from the fox business network, giving you the power to prosper.

tracy: in 2012 u.s. consumers spent nearly $44 billion on frozen food. i'll be the first to admit i probably spent $20 billion. and in today's small business, big ideas, one company looking to serve up some frozen five-star dishes instead right to your doorstep. master chef ken arnon is the culinary brains, and he joins us now. okay, so there's this fabulous food in front of us right now that everybody here wants to taste because it looks so great. this notion of frozen food, i mean, i'll be the first to tell you that i buy french fries, i mean, i buy everything frozen these days, there's no time. and i don' i give it to my kids, 'cuz it's nasty. so you're coming up with this idea that i can have frozen food too. >> 100%. [laughter] so the concept really stemmed from an initial meeting with my partner, sam metzger, the mastermind behind the chip witch -- tracy: the second frozen thing in my house, by the way.

>> and so i get frequently asked the question where is your restaurant? as a certified master chef, where's your restaurant? and we decided to pursue bringing my restaurant to your kitchen. and so we have this concept of gourmet take-in where we currently have four soups and four entrees and are working on expanding the menu that's direct to consumer. tracy: you've been up and running for five months, you ship to about 150 customers a week now. i presume we're looking to double that, and the best is when you go on the web site, there's all the information you need about the soups including a wine pairing, which is genius, because no one knows how to pair anything with soup. so you offer wine pairings, you offer very few entrees, eight right now -- >> yep. tracy: and how are you going to expand this and get this out there to more people? >> well, in all honesty, it really has been grassroots marketing. you said we started five months ago, and it was a very soft launch. now we're aggressively pursuing expansion. so, for example, we will launch

next tuesday on amazon, and they really came after us because they are expanding their line of gourmet foods. tracy: what does that mean, you're going to launch on amazon? i go to amazon and look for food, you'll come up? >> exactly. right now you can go to dcuisine.com, but that's just another avenue you'll be able to find the product. res there's how do you do this? you have a kitchen somewhere. >> we have a culinary facility and partner that we have been working with, and it took three years to develop and vet out the concept, by the way. but i am physically in the kitchen working with our team to produce these meals in small batches. tracy: they're not cheap, they're not all necessarily low-cal. is it strictly aimed toward an upper class customer? >> our customer is somebody who loves food and appreciates great food. and so, yes, right now some of the items are a bit on the upscale side like the seafood or the braised beef short ribs and red wine, but we're currently rolling out three new items that

will be out in about 60 days that are more along the lines of comfort food. tracy: you know what? i think you're on to something. chef ken arnon, good to have frozen food in my house that i can eat. thank you for being here. >> thank you very much. ashley: so close, yet so far. [laughter] a big senate hearing is looming in d.c. over charges that the big banks are inflating your oil and gas as well as electricity bills, but now wall street fighting back. with more on this story, liz macdonald in emac's bottom line. >> looking at that food, my appetite's inflating right now. [laughter] ashley: i saw it first. >> it's all yours. ashley: all right. let's talk about this. what are the big banks saying about these accusations? >> here's what's happening, the senate banking is going to hold its second hearing on the actual ownership of physical raw commodities by wall street banks, so it may come in early october. here's what they're looking at, the fact that big banks like goldman sachs, morgan stanley --

and, by the way, they are banks, they register with the federal reserve -- and also jpmorgan chase that they own oil tankers, refineries, jet fuel supplies, things like metals warehouses, but wall street is fighting back. wall street funded a report that was put out by ih global, and danielier again is a pulitzer prize-winning guy who's big in energy, and he basically said, hey, do not stop the banks' role in their ownership of physical raw commodities. the banks play an essential role in the smooth liquidity, basically that underpins the economy. if you impair this role, it could be far reaching and negative. so what senate banking is saying, hey, wait a second, we want to take a look. are banks manipulating prices higher in electricity, in oil, in gas to boost their holdings? so i'll tell you something, getting back, you know, this may be the way that goldman sachs and morgan stanley said we don't want to be a bank anymore.

they've been a bank for five years now, both of them, goldman sachs and morgan stanley. there should be a reason why -- ashley: they've had enough. >> we don't want to be a bank anymore, you know, let's pull back that bank shingle because, you know what? ashley: next month. >> coming up in early october. ashley: okay. >> so we'll be taking a look at that and giving you the latest developments. ashley: emac, thank you. tracy: i don't want to be a bank. as we do every 15 minutes, jason weisberg on the floor of the new york stock exchange, i'm sure, waiting to gloat. go ahead. >> well, listen, i was partially wrong. people did care about the fed decision. tracy: yeah, just a little. >> but they like a little more indecision. it doesn't matter how we got there, we're a little wealthier today than yesterday. res there's do you think they made a mistake by not doing it yesterday? they could have avoided a massive selloff, and now who knows? >> you know, tracy, it's an interesting dilemma. i think they have always economic data points in front of

them. a lot of people in the investment community don't count because there's a lot of static within those numbers. i think they didn't want to derail the little progress we're making, although i don't think they're taking into account the efficiencies of corporate america and, quite frankly, international companies have developed since the financial crisis five years ago. so i don't know to base whether they move or not move solely on the unemployment number or the target number that he mentioned yesterday is really realistic, because a lot of those jobs are never coming back. new companies, on the other hand, that are formed and developed can diminish the unemployment numbers long term. tracy: a lot of people, i think, felt duped yesterday, right? they thought it was coming, and it wasn't, and does that play against the transparency of, you know, the fed that's supposed to be a sheet of glass? >> well, you know, listen, i guess, you know, there's no written rule that says they have to be transparent. tracy: yeah. >> i think, however, leading up to yesterday it was all, you

know, like one fed member would say in a conference in some, you know, some city throughout the united states, and they would say, hey, look, we think it's time to stop the -- you know, we want to stop buying. those are the occasions. so the entire street -- me included -- thought that they were going to start to back away from qe yesterday, and they, you know, they surprised everyone. quite frankly, if you look at it long term and if you look back in the rearview mirror, the surprise from the fed made for great trading action yesterday, and i think that's got some people fairly excited. the downside to that, though, is that i think what we're going to see because of it is the no decision yesterday that what you're going to see is people are really going to be forced to chase yields between now and the end of the year, and it could create a really vicious game of leapfrog where people are chasing returns with a very short period of time before they close the books at the end of december. tracy: yeah. could be scary. i was never good at leapfrog.

jason weisberg, see you soon. actually, i could never make it over the person in front of me. ashley: yeah. i'm sure they're thrilled about that. [laughter] all right, this isn't a laughing matter. less than 12 days away from a government shutdown. gop congressman tom graves among those pushing for a fix to actually defund obamacare. he'll explain why that's important, he's our special guest next. tracy: as we head to break, take a look at some of the winners and losers on nasdaq. we'll be right back. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children

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ashley: now in one of our top stories, the house taking up a bill that would stop a government shutdown by defunding obamacare. our next guest was one of the first to tie those two together,

republican congressman tom graves from georgia joining us now to talk about this. congressman, thank you for being here. my question to you is, if is there any division within the gop on this strategy of tying funding and debt ceiling measures to obamacare, is there any division at all, or are you united? >> well, we as a republican house and senate are united around the concept of keeping the government open and protecting our constituents from the harmful effects of obamacare. there is no doubt, no question at all, no gap, no hesitation in that whatsoever. now, this is all about funding the government and protecting our constituents from obamacare through defunding it. no discussion about the debt limit at this point, that's a discussion for another day. but, you know, hey, i see it in the, i guess, the d.c. media and such. there's some intrigue about a lot of different conversations, but i can tell you this, my constituents back home could care less about who's a bff here in washington d.c. [laughter] they are more focused on are we going to protect them from the harm that they're already

feeling? and that's really the derivative of why we have pushed this concept forward and it has so much traction, is because throughout august recess we heard and saw in the eyes of our constituents true hurt and pain and concern and fear and questions. and now is the time to hit the pause button just as the president's done for his friends. ashley: well, congressman p even the biggest advocates of this strategy seem to admit that they just do not have any future in the democratic-controlled senate on this. so assuming it goes true the house -- through the house, goes through the senate, they strip out the tie-in with obamacare funding and send it back to the house, what do you do then? dodo you vote on that bill? >> that's a hypothetical, that's a few steps away -- ashley: but they're very likely steps, wouldn't you agree? enter call me an american romantic, if you will, i believe in the american people rising up and letting their voices be heard to their u.s. senators. i mean, the senate has to take a vote, and really it comes up to harry reid, and he has to look the american people in the eye, and he has to determine, you

know, what is harry going to do? what will he do? will he look them in the eye and say i'm going to continue forcing this bad law on the american people, or i'm going to listen and protect you from this bad law? that's the question that faces harry reid right at this moment. and as soon as we pass it tomorrow in a very strong bipartisan fashion, i expect all america's going to look at harry reid and say, what are you going to do? ashley: well, i think what harry's going to do is strip out the tie-in to obamacare, send it back to you. and i ask you again, in that scenario would you just vote on that bill as it stands? >> it's hard to answer that question because we don't know what they would send back. i just have some sort of, i guess, hope or aspiration that the senate democrats have listened to their constituents. and i encourage their constituents to contact their offices and share the same stories that we have heard in our district and we know democrats are hear anything their states or in their congressional districts. so i just, i p want to wait and see what the senate does, and i'm not one that's giving up on

this fight. we have 11 days before we cross that threshold of october 1st on the implementation, and i'm fearful. once we cross that threshold, we won't come back through. so we've got a little bit of work to do, but today is a great day for the american people, and we're on the eve of a historic vote in the house of representatives. we're going to enjoy this moment for the american people right now, and then we'll move to what will harry do. ashley: all right. congressman tom graves, thanks so much for joining us. appreciate it. >> you bet. thank you. tracy: coming up on count don to the closing bell, the nasdaq is the lone standout today, moving higher. we're going the tell you why investors like these stocks and be whether you still have time to get in them. that and, of course, all the rest of today's market action. dow's down 36 points, don't go anywhere.

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liz: good afternoon, everyone. i am liz claman. one day after the fed notepaper surprise, look at the tech heavy nasdaq. the one holdup among the major indices just under six points after crossing the unchanged line from 28 times so far this trading session. let's talk about what is driving it to this 13 year high. apple is rising. whether you like the new system, still trying to figure it out, still can't get it to download, there is no denying the new system is different and it has been downloaded a heck of a lot. estimated 30% of all iphone and ipad owners have already downloaded it. i am happy to say i was successful thanks to my kids. it took a nine-year-old to help me do it. thank you, ladies and gentlemen.