lori: though wait for two new iphones stretching for blocks. check that out. adam: clear channel chairman joins us in a for on fox business interview. his latest gamble starting today from las vegas. the retail shakeup in california's nordstrom cut the ribbon at a new location. guess what, it is just around the corner from the other location. adam: right now we want to find out why the dow is down this hour. we will go to nicole petallides for that. nicole: we have had a nice run.

also, we did start to the upside. we have since pulled back. we have had a 100-point swing from top to bottom. we have oil and gold on there for you as well. the dollar has gained. this will also be a busy day going into the close. volume is likely to be very heavy and can sometimes be a real milestone. we have some names that are hitting some new highs. tesla, netflix, amazon. there may be some red arrows across the board. we have plenty of winners for

you. back to you. lori: thank you. we will see you in a couple of minutes. will washington get its act together in time? welcome back to the show. the center made a very interesting statement, i thought, earlier. costly steps were taken to prepare for the taper. was not tapering a waste and is that an issue that bernanke and company considered when making a decision earlier not to taper? >> over the next week they will decide whether or not the government will shut down at the end of the month.

we could run into the debt ceiling issue once again. that also makes it unlikely that they will paper in october. i think that the fed probably sits back and waits to absorb some of the data that is due out over the next couple weeks. lori: to esther george's statement, the job owning that went on around may prepared the markets. everybody expected this to happen. now we are hearing this orchestrate, if you will, orchestrated release. do you think that they will be listened to and given as much credit to as we gave bernanke

and company the last time around? >> they kind of take those comments with a grain of salt. the comments about the fed preparing the markets for tapering and then not tapering, that is an issue we raised. the market has trusted the fed and the fed will begin to -- we do not think that the fact that the market has lost a little bit of trust right now matters very much. when the fed begins to unwind all of this stimulus, the fed will really need the markets trust and i think it has been damaged, somewhat. here we stand. lori: let's talk about the market mechanics.

do you think it is as much of a risk to stock market performance? >> you probably do see the rate rises that we have seen since may and here. it probably does not go a lot lower from here. normally rates have to get well above four, 4.5, 5%. right now, the stock market is sort of caught the bond market, excuse me, is working in the stock markets favored here. lori: thank you for your time. >> thank you. adam: another iphone frenzy. what can we expect for sales?

i love ios seven. i downloaded it last night. >> i have not gotten it. it would not download for me. another morning of long lines. they lined up all across the country. tim cook even made an appearance at a store in california. we quickly learned that there is one color that is rising above the rest. >> gold. i want the gold one. >> the gold is so popular that it appears to be sold out at least all mine until october right now. the 5s will not ship until

october. we are expecting a healthy increase on sales for this once. last year, the iphone5 sold 5 million opening weekend. this weekend cantor fitzgerald is expecting six-6.5 million iphones to be sold. questions of sales worth noting here. taking a quick note at the stock. adam: it is shiny. thank you very much. cheryl: shares of darden restaurants shrinking. what happened? first of all, $0.53 per share lower than the street estimates. darden owns red lobster and olive garden restaurants.

the change announcing plans. adam: faster than a speeding bullet. closer to a reality. the vision of tesla and elon musk. after viewing a computerized model based on his plans for the hyper loop, engineers were impressed. a company that builds software simulations created a model based on details of mosques proposals. they see some modifications necessary. lori: it reminds me of the old

bank tellers. back in 2004, tj maxx tried a shopping website, but it only lasted a year. shares of t.j. maxx parent company in the red today. they had a 14 week high yesterday. my monitor is this big. it is hard to zero in on that. adam: a fight without compromise. refunding obamacare with just ten days to go. lori: no guarantees for chancellor engelbert goals

coalition. adam: i heart radio hoping to make up some ground with its third annual gigantic music festival in las vegas. we will get the first ever business exclusive. ♪ 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 can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights

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adam: the competition for your ears is heating up. pandora shares continue to hit all-time highs. our next guest is trying to get to the heart of the younger audience. 2013 i heart music festival kicks off in las vegas today. before we get into the nitty-gritty of the competition, this festival is huge. you have paul mccartney, justin timberlake, katy perry, keith urban, miley cyrus has a chance at redemption. this is a huge concert.

how much does it cost you to do this? >> well, you know, we do not announce cost. i think there is nothing to demonstrate better. it has all john rose of music. it is extraordinary. for us, it is a major opportunity. also, for our advertisers, it is a wonderful sponsorship opportunity. >> last year, we had 17 million viewers and listeners. it set records on yahoo!, on xbox live, we had a billion social expressions, we had 50 million text entries.

by every metric, it was a smashing success. we expect this year to be even bigger. adam: you face stiff competition . the launch of itunes radio. they have 575 million credit cards in itunes right now. you have 34 million on i heart radio. you have a long way to catch up. >> we have 34 million registrations. that is a fraction of what it is. by the way, we are the fastest service on the internet. we are second fastest to hit 30 million. the service has enormous momentum. the active users is almost 70 million.

adam: let's bring up act give users. they also talk about listening hours during the month of august. what are the listening hours, just on the digital i heart radio? >> well, for us as a company, that is certainly what we care about. we reached 243 million people every month. adam: on the digital platform, how many listening hours do you have? >> pandora's numbers are apples and oranges.

you just entered into a contract with warner music which will control the cost that you pay in digital royalties. at the end of the day, will you be making money off of this deal? >> absolutely. if you look at radio, by the way, this one is quite different than when we are talking about our cost him radio feature. it really is a play list creator. it has not been encouraged to drive the marketplace for radio. it is just built around her

place. for us, we do not make money on her place. adam: you were quoted for the number one promotional partner. is there a potential that you would give first preference to their music groups? >> for us, what we are doing is, it is all based on what our programmers think our consumers want to hear. we will work very closely to do that. what has happened in the music business is -- we take an ad hoc relationship and turn it into a

structured relationship. i think it is probably good for them and good for us. my hope is we take the entire industry over time. adam: you will ever be fired for making a mistake. it tells me you are not trying anything new. >> with i heart radio, i think it has been an extraordinary success. day in and day out, we made

plenty of mistakes. when it looks like it is not working, we change. you mentioned apple. steve jobs tried many things. if something didn't work, who cares. when you met with steve, he was a guy, there were folks that just had enormous amounts of energy. broadcast radio really is not the climbing. the number of users actually increased. out on is spectacular. people are finding new listening locations.

adam: any chance that we will get dollar figures? >> i think at a certain point. adam: thank you for joining us. details on the government ever under -- lori: nordstrom on its california move. the president of that store is up next. an interview you only see right here on fox business. ♪ [ bagpipes and drums playing over ]

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lori: a big shakeup in the california retail business. nordstrom opening a new americana and glendale, california after being wooed away by a rival. the company's president blake nordstrom joins me now for a fox business exclusive. thank you so much for joining us. >> thank you for having me.

lori: i may or may not have been a part of that culture back in the day. you decided to cut and run. why were you wooed to move to a space that is actually a little bit smaller. >> we opened our first store here in 1983. we were able to relocate this terrific center of americana. we are excited to have our best foot forward for a very loyal customer that supported us over the years. >> these are all mall operators. why is it so important when evaluating the whole brand?

>> i do not know if that is necessarily true. in most cases, the developers that you mentioned, we may on the box, but the developers own it. the more competitive it is, we benefit from that. lori: tell me then how it came about that you did do this move. >> we have been at 30 years from glendale's galleria. we have had some challenges. we were concerned about the future viability. it was a really important customer base. we kept looking for a solution. it did not seem viable to stay

where we were at. we were able to find a location in the center. we really jumped on it. we did all the old location. he now owns that had. we just opened 20 minutes ago. behind me, we had a couple thousand people waiting to get in. we are very excited to get their feedback today. lori: you have had your fair share of criticism. that was specifically sparked by a reader article back in march that pointed out the commission practices of nordstrom. you know where i am going with this question. you are shaking your head. bloomingdale's, a competitor, if you wear it, you own it. is nordstrom changing its return

policy? >> our success is attributable. you mentioned the commission. that policy creates more foot traffic. we are about double the average of our competitors. what do you think about this? >> it certainly is in the luxury sector. these are companies we think

very highly of. they have terrific brand and long-standing reputations. we are just really focused on our strategy and our customer. we think competition is really healthy. we opened our first store in canada and fall of 2014. we think the ultimate beneficiary is the customer. our business is better and certainly the customer wins. lori: absolutely. you are enhancing your brand. i have to leave it there. >> we are really excited about our own strategy. we have a strong e-commerce business that is growing.

we are really excited about the ability. we think we can do that through the purchase we made about 18-24 months ago. we think these four areas of the business enable a customer to shop on their terms. we enable to service them. lori: thank you so much for joining us. pleasure talking to you. adam: we will be live inside the beltway as the house takes action. no chance of getting through the senate. lori: responding to e-mail. do not forget coffee breaks. the desk that will keep you on the go at work. can't wait to see more of this just ahead. ♪

ashley: lists check your investments that had backed the floor of the new york stock exchange. nicole petallides is there with a newcomer to the nasdaq two is making quite a big splash. >> reporter: if you are invested in this one, you are singing and dancing. talk about demand for an ipo. we are talking about -- i'm calling it s.i., but it is and i tea company that obviously protects yourself on the internet, on the web. prevent cyber attacks across the web, e-mail file systems, security platform company who of the pricing of the shares available. not only did they do that, but this was originally going to be a 15-$17 ipo. it was a $20 ipo, and is in the $40 range, up almost 90 percent of the month.

what date. lori: he said it. thank you, as always. the house passing a stopgap spending bill stripping out funding for president obama signature lot, the health care law, and it will be taken up by the senate next week. rich edson is on capitol hill trying to make sense of all this for us. >> reporter: good afternoon. a complex game of political ping-pong here. republicans in the house have made the first moved from a passing a bill that funds the government until december 15th and d funds the president's health care law. house republicans are claiming victory. >> armas is to the united states senate is simple, the american people don't want the government shut down, and they do not want obamacare. [applause] >> how about that. the majority leader harry reid in a statement, republicans as simply postponing for a few days the inevitable choice that they must face. pass a clean bill to fund the government will force a shutdown i have said before, but it seems

to bear repeating, the senate will not pass any bill that the funds or delete -- delays and obamacare. the senate comes in next week and will likely stir about the provision and sent back to the house late next week. the house and senate have to get on the same page back to the first. if not, the government shuts down. back to you. lori: that is looking more and more likely. thank you for the report. ashley: ides across the continent are focused on sunday's german election. the german chancellor looks on track to win a third term but faces a battle to preserve for a center-right majority. she fails to do that she could face potentially divisive coalition with the rivals, the center-left social democrats. in a letter earlier today, marble assured german voters there will be in safe hands if she remains in office, and this is a quote, germany has had four good years. we have received a lot together. i also want the next four years to be good. lori: stock alerts.

watch the whole stocks dropped. new regulations by the environmental protection agency. that would severely limit the ability of companies to build the kind of cold-fired plants that account for nearly half the u.s. electricity production. this push from the epa is an attempt to reduce carbon pollution from power plants as part of president obama's claman's action plan. keep it right here on fox business as trustee and ashley will speak exclusively to make adkins, ceo and president of american electric power, what he says about this new rules and what will duke is business. adam: right down the trouble with obamacare. the cleveland clinic aspiring thousand people, and it is not just an ohio problem. what home depot is doing about it. lori: and then the technical glitch that could impact 32 million uninsured americans trying to sign up. details are 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.

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unemployment rate at nine and a half%. north dakota with the lowest jobless rate, adjusted%. target will hire about 20 percent fewer holiday workers. the discount retailer plans to add 70,000, which is down from 88,000 it hired first is an award last year. one-third of last year's temporary workers were hired as full-time employees after the holidays. that is the latest in the fox business network, giving you the power to prosper. ♪

lori: the fox business clinic was touted by president obama as an example of health care that works well. it is now slashing its budget and cutting jobs, blaming health reform. fox news mike coleman is standing by in cleveland with the latest. >> reporter: the given clinic says it will slash its budget for next year by $330 million. a number of contributing factors, but a significant one is the implementation of

obamacare, of the affordable care act. and that will mean layoffs. ceos says it will try and do everything they can before the start laying people off. streamline the operation, leave vacant jobs vacant. also approach some 3,000 employees about early retirement ultimately, people here at northeast ohio's largest employer are going to get the news that they're losing their jobs, and he says that this is a trend that will continue across the nation. >> this is something that is done all across the country. every ceo of von's let's talk to a stock to buy denny's this same thing. >> now, jay carney said yesterday a there was no hard and fast evidence showing that the implementation of obamacare was going to be a directly cause to shed jobs apostles. this ceo says william ultimately have is cost remaining the same as in terms of providing health care, but the reimbursements for medicare, medicaid, even private insurers goes down, and a half

to cut the budget somewhere. lori: thank you. mike tobin. adam: a major glitch in the computer system, the "wall street journal" reporting people in 36 states will have a problem finding a just how much they need to pay to obtain health coverage. our own elizabeth macdonald has more. >> tracking this developing story to read the day, the health and human services administration says douglas will be cleared up by the time -- january 1st, meaning into yemen summit dec. design of these exchange policies. it will iron out hopefully. basically the tax credits, how you calculate that, if for the coverage. now tell you something. they were worried about this glitz, worried their answers would say we need to have consumers in the exchanges. didn't know what the pricing will be, that will scare away consumers. the exchanges to be a problem if you don't have enough people. with what is happening with some people and seers and trader joe's, companies like that shifting workers into the

exchanges, that could take care of the insurers, the concern, they are worried about the failure of the exchanges. but now we see companies like deasy right here. walgreens, the nation's biggest surge in. and trader joe's, it's a big deal. we have an e-mail and there. talking about the fact that that tax credits in these changes make the insurance plans in those exchanges a better deal than what trader joker provide its own employees from the company itself. adam: better deal for the company or better deal for the employee. >> for the employee of seeking to the tax credits and exchanges. is happening is companies are giving the workers of $500 stipend, like trader joe's, $51 per year. yet to go in the gate, you know, your experience on these changes. as a trend that is taking hold, time warner and ibm during the same thing with retirees. we are at the leading edge. this is going to be a wave. more companies will follow the

example that is being said by these companies already. lori: thank you. as we do every 15 minutes, less check the markets. this summer around rear joined by jonathan karp pena on the floor of the new york stock exchange. we have a 110. deficit on the dow right now. i also understand you have all kinds of expiration's. quadruple. passing things. >> we have a lot going on toward the end of the day today. like you said, quadruple. going income of twof the dow, stops going out. small rebounds. small rebound in the s&p in the russell and in the gold index, so we will see a lot of activity, volume, volatility as we get toward the end of the day what we are seeing now is the pressure of the market. i am calling it a delayed reaction from the rally earlier. i was expecting the sell-off yesterday, but we are starting to see short-term profits coming off the table. lori: all kinds of fed speak. you also have all kinds of

debate in washington overspending. in that plane into the? >> it plays in a little bit because we're starting to see some of the true colors. without having a debate back-and-forth in having someone else step up and say, with a second, might have been a bad decision, that was to be expected, that is just the normal politics that occur in d.c. lori: thank you. adam: five minutes for fighting into minister taking of your helmet. and at the rate -- an amazing story. an effort to avoid costly lawsuits currently facing the nfl policy is enforcing a new rule that players not take their helmet off before starting a fight, and if you do, that is two extra minutes in the penalty box. two teams found a way or at least a loophole to the rule. in their second fight, new york islanders and new jersey devils decided to take each other's helmets off, and then they went at it. no rule broken, no face covered,

no extra two-minute penalty. lori: can you imagine the conversation? this is what we will do. pick a fight with you, but you grab mind and i grab yours. adam: of take your dentures out first. lori: thomas, then dentures. then -- okay. adam: nothing new for a lot of people, our next guest is pushing it to the limit. adam: the man behind the treadmill desk. fortune 500 companies are signing up nonetheless. ♪ ♪ 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 can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans.

♪ adam: a lot of people sit all day at an office desk suffer from back pain. complain about spread. there is a new trend sweeping fortune 500 companies. exercising while you work. my next guest is cashing in on a new craze, selling a setup that allows you to exercise at your desk. the founding and president of dread desk based in indiana. you step let -- live in indianapolis. where were you -- i was actually sitting in the deaths, but i do have the back pain. did you come up with the idea for this yourself? >> i did back in 2006. i found myself sitting behind a desk staring at a computer for the entire day for the first time in my professional career. prior to that was very active with outside sales. and so at first this was a

welcome change, but after just two or three months i knew that i had to do something different. seven to pick up late. i felt very sluggish. so i bought a treadmill. a built-in desk over the double much about. they're first day i walked but a miles. i never felt better as far as physically, mentally i was much sharper. and so i knew i was on to something here. adam: the treadmill alone is 855 bucks. 1200 to 1400. you sold about 30 of these units , and no use of about 4,000. so far you have sold 4,000. where are you going with this? you going to partner with a large nationwide furniture from? the going to do this around? what is going on with the growth of your business?

>> we have been doing in on our right now. your starting to open a distribution channels through office furniture dealers. so far it has been all in house. we import the treadmill portion from overseas, but we build all the guests in our warehouse here in fishers come indiana. adam: any clients here? can you share with us to matt veatch said -- taylor the combination? >> yes, we do. they come in all different sizes and shapes. and just by pushing a button you can go from a sitting position up to standing up. this was not intended to be a workout by any means. it's all about getting people up and out of the chair and moving while they are continuing to work. adam: we have that gusty pointed out that this standing burns calories. if you're not breaking a sweat, you are still burning calories. >> that is right. and we are right now, america is

setting ourselves to death. we have to make a change. this is one tool that can be used to do that. people are just sitting at their desks and much right now. adam: all right. thank you for joining us. the other thing that is helping us keep weight off. all the best to you. >> thanks. nice to be here. lori: sitting ourselves to death. now i feel guilty. adam: iran workout. >> i do sit a lot as well. i appreciate that. drink yourself to death unless it yourself to death. well, and october -- will and october tapir be a reality? is possible. our own peter barnes says down with st. louis federal reserve president james bullet theory do not want to miss that to. adam: american electric ceo of reacting to new regulations on power plants. will they lead to a spike in your power bill? he is joined -- going to join

jersey and ashley in a fox business exclusive. this is among the you have to see. ♪ ♪ [ male announcer ] now, taking care of things at home is just a tap away. ♪ introducing at&t digital life... ♪ ...personalized home security and automation... [ lock clicks ] ...that lets you loser to home. that's so cool. [ male announcer ] get $100 in instant savings

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[ male announcer ] get away fast with unlimited double miles from the capital one venture card. you're the world's best teacher. this is so unexpected. what's in your wallet? ♪ adam: and welcome back. >> new talk of an october tapir. and the markets don't want to hear anything about it. stocks tumbling after the st. louis fed president said the long-awaited cut could actually come next month. our very own fox business and peter barnes does one-on-one coming up. plus, big money manager weighing in on what the fed makes signals could mean for the markets ahead . ashley: ten days to go and counting. the house passes a fix it that has no chance of becoming law. republican congressman john flemming tells us what happens next and whether today's vote could backfire on his party.

tracy: new rules for power plants. the white house says they will cut solutions and utilities say they will lead to higher bills for all americans. how will they do that? ceo of american electric power. he is here in a fox business exclusive ahead. ashley: it is the top of the hour. the dow is down triple digits. that's good to nicole petallides at the nyse. stocks that lows of the day. >> reporter: accelerated selling. i was just checking in to see where we stand. about 130 points from top to bottom. earlier today we were posting some gains, but the sentiment has turned to the negative side, down 502 million versus the of volume of 141 million. anyone who knows and understands volume here on the stock exchange, that is every day, and it will continue to be a heavy day. we have quadrupled, options exploration, rewaging of averages. simply said, we are going to

watch names changing in the dow jones industrial. there will be a lot going on in to the closing bell. that being said, very busy week with the fed decided not to taper this time around. once the market moved to record highs. we lost some of the gains that we obtained earlier in the week. however, we see a major averages holding on to gains with the dow of about 1% and the nasdaq in the s&p outperforming the dow to a certain extent. it still is awaiting week on wall street, and it should not be pushed aside we have had a record this weekend it has been a great week if you are a bull. back to you. ashley: thank you very much. tracy: the house passing the stopgap spending bill, stripping out funding for president obama's south carolina. it will be taken up by the senate next week. rich edson on capitol hill with the latest in my we're wasting our time. >> reporter: good afternoon, and we have some progress. does not solve the government sat down, far from it, but you have some movement. the house has passed a bill to keep the government up until

december 15th. it also defines the president's health care law which is a real problem, as this and says they're basically going to strip that out. but when you look at what republicans asking for, it is starting obamacare. >> i am getting frantic and heartbreaking calls from folks who just received staggering increases in their health premiums, notified that there health plan is being dropped or having their work hours cut back as a result of obamacare. this stops that train wreck. >> reporter: their response saying in a statement that the affordable care act has been the law of the land for three years. democrats stand ready to work with republicans and reasonable people who want to improve it. republican attempts to take an entire loss is simply the repeal the tea party and our guests are outrageous, irresponsible, and few job. so from here the senate will consider the house bill next week very likely stripping out the parts that defund the

president's health care law and send them back to the house of representatives. in order to fund the government house and senate must pass identical bills. the house will have a choice. they can pass the bill as simply bonds the government to december 15th for any other date and does not be fun obamacare or let the government shut down. that is probably a decision that we will come to next week. we are getting ahead of ourselves. the senate still has to act. tracy: thank you. ashley: this bill seems to resonate with people's opinions. the general public, the latest fox business poll finding that 68 percent of people surveyed say that they are concerned about their health care under the new law. 43 percent of those surveyed responded that there are very concerned with their health care. 25 percent are somewhat concerned with how the new law will affect. the majority of respondents who were at least concerned by the weight fell in that under 30 age group. when you ask which would be better on obamacare, 54 percent of those surveyed say they think

the country should go back to the 2009 system, pre obamacare. a 6% increase from february 2011 and only 35 percent agree that the government should leave the new law in place. all right. the latest on the house passing a spending bill that temporarily funds the government through december 15th. and permanently defense of -- present laws affordable care act known as obamacare. we're joined by republican congressman john plumbing from louisiana. congressman, thank you for being here. forty-one times. there has been some sort of effort to defund obamacare. it all but failed. do you think that this is going to be any different? >> actually, i do think so. as previous attempts were actual repeals in part or completely. none that i can recall were ever attached to must pass legislation. however, the cra is must pass legislation, and therefore i think we have a much better

opportunity, especially considering the bad news of roles that

believe that harry reid said in a statement after today's vote, the house bill, that -- you are being held hostage by two party and that -- anarchists who will see nothing but the extremes on any issue ended particular on obamacare if defunded are nothing else? >> actually, this morning before the vote we had a republican conference. it was a tremendous unity, at tremendous energy. right after righetti there in front of the cameras to discuss

the victory of that vote. however, there is a little difference on how best to approach the defunding or delay of obamacare. ideologically whereon the same page all of us voted against obamacare. we get a chance today to vote up and down for obamacare. again, we would all be in unity the vote against obamacare. we are closer together now than probably any time in the last year so. ashley: and nothing about solutions. what do you think this country should do? should we just throw out every aspect of the new health care law and start again? >> well, a lot of people ask, well, why don't you fix obamacare? the problem is that obamacare is a giant rock receive that puts most of your decisions for health care than in the hands of secretary sibelius.

cited giant skyscraper that has a very poor foundation. you have to tear it down and build it back up again. this crazy law was passed with no republican support. two-thirds of americans take this law. the republican study committee and the subcommittee and i am participating in actually launched the last couple of days and new law, at least a bill that would become law actually puts back of patients centered approach that depends upon the marketplace for efficiency and lower cost. you start with the lower cost and then you expand coverage. and then expanded coverage you do nothing to lower-cost. ashley: thank you for joining us. >> take care. tracy: good stuff. the amount of money spent passing it and now -- ashley: everyone is fighting every. tracy: we could fix our debt problem. well, stock stodges a september tapir, but could the fed still take action within weeks?

peter barnes goes one-on-one with st. louis fed president james miller coming up. ashley: plus american power ceo says new epa rules will have a direct impact on customers. joining up exclusively to talk about that next. first, time to take a look at gold continuing to slip down another and a half% to $104.704 a barrel. we will be right back. when does your work end?

does it end after you've expanded your business? after your company's gone public? and the capital's been invested?

or when your company's bought another? is it over after you've given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours. tracy: it is time to make some money. talking. now, don't you love when one of your tweets gets real tweeted to? how about 500. this may lend you behind bars. >> is so funny. i have done these -- tracy: he did not answer questions. >> i only get to. some grandmother. that's nice. wrong the first time. i'm against that. i keep telling you guys. this chinese government wants

this. them gigantic revolution will come to the internet, and there is no way stop it. this is a brand new law. they made it pretty crystal clear. 503 tweeds, 5,000 use. it is not accurate information you can get three years in the joint. the three years. a lot of these stocks, pounding the table. we are still seeing a couple of others. i will ride the wave. that twitter of china. but i think it is inevitable that somehow, you know, everyone says, you know what, we will test the system. a million people. >> skynyrd imagine we talk about

income inequality. i just read this week, the top 50 lawmakers in congress in america and washington have a net worth of almost 2 billion. you want to guess with the top 50 in china have? 95 billion. 95 billion. tracy: it is amazing. their still trying so hard to control. they are still trying so hard. >> in the back of their minds they understand that this is coming. the guy who is on trial there, he wanted to go back to the maoist system. they were smart enough to say, no. his boss did. of course it does not help that his wife killed a british diplomat. but watch that. i don't think it will be good for the stocks initially, but after that, that sort of freedom, i think, it will move the stocks fire. ashley: they can try and keep their robotic, but it is almost impossible. tracy: 500 reach weeks.

>> what do you get for murder or 500 pretreats? ashley: funny but true. >> 500. tracy: thank you. thank you. ashley: all right. it is a quarter past the hour. let's get back to nicole petallides on the floor of the new york stock exchange. tough day for the stocks. companies making there debut on wall street. >> a tough day for the overall market. some of these ipos are soaring. our initial public offering, we have to take a look as some of these names. look at the return that we are talking about. ninety-nine percentage rocket fuel, 92%. club corporation holdings 4%. only bind therapeutics is to the downside. fire i, 15 to 17 bucks. and here it is trading around $40.

talk about that. unbelievable. up 4% at the moment. rocket fuel. really at wonderful and exciting day. ashley: back to you. thank you, and happy birthday, by the way. >> thank you. tracy: yes. ashley: spending in that work, but hate. tracy: at least it's friday and she is to go home. all right. well, american electric power ceo and make aitken's read that -- reacts to new regulations on power plants. will they lead to a spiking your power bill? take a guess. thus, he was in the room when the fed decided not to pull the trigger on the september tapir. one-on-one with peter barnes coming up. ashley: very interesting. plus, define the reputation as one of the worst months for stocks.

one strategist tells us how he is playing this market coming up. first, take a look at how the u.s. dollar is moving against some of these foreign currencies on a day with the dow down 123 points. the dollar, as you can see, stronger. dollar down. dollar up. it marked down. euro, lb, canadian, peso, japanese yen. it. tracy: it is expensive in your homeland. totally. we will be right back. ♪

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♪ tracy: the first major piece of president obama's energy plan. the epa and with a proposal to strictly limit carbon emissions from a new power plant. the coal industry says that these tougher rules require the use of costly and largely unproven technology. american electric power is one of the largest coal consumers in the country. ceo and president make a guess joins us now over the phone. i am sorry that we could not work it out to get to see a pretty face on camera. we still have to talk about this. it is important. last time you were on, you even said that this is done too fast, if the technology is not available which at this point it is still not, those costs are going right to the consume

>> that is correct. the one thing, i mean, we are not entirely surprised by this because it is another bad message from coal coming from the epa. we are also disappointed because it does include carbon capture and storage, the technology that is neither proven at commercial scale, not cost-effective from and it is also a significant burden to the a existing utilities. about a 30% of their acidic the meeting if you put this equipment in place and even if you can do it, it is going to take away 30 percent of the outflow of the plant, and all three of those measures are measures that the epa should be using in their evaluation for these guys of rules. tracy: that is what is interesting. had they come up with the standard? the first coke plans to use this so-called new technology is not even going to open until may. it is not even available for you to do now if you wanted to. >> i think it is a real stretch because they are assuming that kind of technology will work.

the specific environment. and then, secondly, the technology itself is just not proven at that commercial scale and is not readily available to everyone in the industry. we have a history of working with carbon capture and stories. we have the only integrated capture and storage project in the world, and we learn from this process that it is very, very detrimental to the operations of the unit, but also the cost is just toss a primitive and will drive up costs for customers. tracy: because you're not working out the kinks. i mean, anyone that buys a new generation carnets that something always goes wrong. it need * don't -- it needs time to work itself out. people will see their utility bills go up. >> the one thing, there is no near-term impact because this is the new unit, but also, it says that you cannot plan for the future in terms of development of these kinds of operations of coal-fire generations. it has been a big benefit to our

country and the consumers in this country, and that think it is important for us to keep that as a part of our portfolio. it does come into effect don't take that away. tracy: they produce 35 percent of the electricity. we need to keep prices down at this point. >> that's right. tracy: you made a great point by pointing out that retiring older plants to sell to reduce emissions. >> absolutely. by retiring generations. by the way, lot more generations that will be retired just because of the epa mercury rules that came out previously. we will be retiring 20-25 percent of the coal freed in this century, and those emissions, by 2015, will already achieved this 17 percent reduction levels that the president must have in place by 2020, and we have already achieved the objectives. to go further is at this point going to be detrimental to the

economy and detrimental to relieve the ability of our great. tracy: it just goes to show you that corporate america can do this on its own. thank you so much for taking the time to be with us. i hope that the fda rethinks everything. or is the epa. is it as the fda? and hungry. ashley: fyi. stocks are down, but still headed for a third straight winning week despite the evidence today. demint next multibillion-dollar money manager, how he is playing the fed, earnings, and so much more straight ahead. fifty-six peter barnes one-on-one with st. louis fed president coming up. first, take a look at some of today's winners and losers. the s&p 500 as we head out to break. look at netflix. everybody is watching tv in one shot on netflix. up 2%. we will be right back. ♪

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tracy: 90 minutes until the close. lots of stuff going on today. nicole: we are trying to avoid all the cupcakes that everyone keeps bringing. i was talking to a guy over at ubs. the idea of tapering in the near future by the feds. he said it does not really correlate to this market action. you do not really see the treasury yields job. he did not like that theory too much. the houseboat and that putting a

damper on things. smithfield foods are down half a percent right now. $4.7 billion buyout. now, they are writing a letter and changing forces on this one. the stock is 3398. working with possible buyers to construct an all-cash proposal. a special meeting that they plan to vote in favor of the deal. we are watching them change their position. they are now backing the deal. it is a big deal for everyone

involved. there is a lot going on in this story. back to you. tracy: you have it all covered. we will see you in a little bit. peter barnes is in midtown manhattan with his interview with the fed president. peter. peter: hey, ashley, thank you. the decision, wednesday, not to taper was a close one. it was borderline. how close was it? >> i think it was a tough decision. the data that came in was more mixed than we would like to see. we had a story that said we were looking for a stronger second half of the year. the data may be was not confirming that quite as nicely as we had hoped.

>> it was a 921 vote. >> we see a lot of votes for the chair. >> there is now some talk today based on your comments here in new york today that the fed may also now taper at the next meeting in october. discuss that and what would it take in terms of the data. what would it take in the data for you to support, to start tapering and not over. >> i think we would have to see some indication that the second half of the year was as strong as we were thinking it would be in june. maybe some revisions to past data. strong jobs report. some indication that gdp was coming in. things like that. i think that could cumulate to decisions to taper.

the committee could make a decision. i am not saying that we are going to. you could argue that there will not be that much information coming in. the normal process for monetary policy is you have a meeting for a reason. you assess the data as it has come in. p21 you also want to make sure that the inflation market is on target as well. you may still wait on tapering. >> you could. i have been emphasizing that. i have been trying to push the committee.

>> and lots of questions about the communications that we have had. is the feds credibility damaged? >> well, i do not think so. we said that this was a data depended decision. i think that there was some residual notion that there was some kind of automatic tracking down of qe that would occur over the next year-nine months. that turned out to be a false idea. we did say it does depend on the data. this was a meeting where the fomc was downgrading its outlook for 2013 and 2014. normally, you would not want to take accommodation off the table. peter: are there any improvements to the communication process that you think that the fed should adopt to help all of us get more clarity?

>> i think that the fed will have to go to a situation where each meeting has a press conference by the chairman so that the chairman is in regular communication with financial markets and the financial markets can understand what he is saying and check on where he is. i think that will be important going forward. the chairman did say he can call a press conference if needed at the up over meeting. eventually, i would like to see all meetings -- we can do so. we can have the spokesperson for the committee go out and explain. peter: realistically giving the numbers, when do you think the market should, realistically start to look towards tapering. we will need a few more months of data.

probably december will be the earliest. what do you say to that? >> i would not want to prejudge where the committee is going to go on all of this. this process is getting closer to what i think would be a normal monetary policy process. i would be telling you it depends on the data. that is a good process. it is small adjustments in monetary policy in response to small accumulations of data and that keeps everyone from being surprised. i think we are getting closer to a situation where we can make small adjustments. peter: thank you for joining us on fox business today. thank you for your time. ashley: peter, thank you very much, indeed. our next ghost is focusing on

growth or lack there of. and a lot of dough. bob, thank you so much for joining us. he said possibly in october taper. that has gotten some play today. i would say all of this has brought uncertainty that to the markets. would you agree? >> absolutely. when asked when do you think that will be, he almost said it is data dependent. they will not tell us which month. they do not know which month. there is a little more uncertainty out there. markets do not like uncertainty. >> it is a little disconcerting

that the fed continues to do this. >> you know, to some degree, i guess that is right. there are a lot of economists in the same boat. i think he also said they would like to see some revisions to activity. these lead indicators are pointing to not a great economy, but a little better. i am hopeful. ashley: let's get down to making business. >> i think the stock market is four years old and has further to go. consolidating now for a bit.

my view is the rotation that began away from dependable defensive predictable stocks to things that are a little more cynical. i would be positioning in that direction slowly, but surely. ashley: the emerging markets have been out of play for some time. would you agree? >> there is no question that there is value. emerging markets have a great long-term story. if you believe that story, valuation levels like this, perhaps they argue for some nibbling away. some days it feels like catching a falling knife. in the last month or so, we have seen better action. i think we will see good action.

ashley: 2013 on track to being one of the worst bond market in 40 years. is there anywhere that you would consider as an investment? >> we are obviously in a bit of a rally. i think some can withstand rising rates. there are areas where you think you can have some credit spread narrowing. ashley: do you have a target on the s&p by years end? >> marginally higher than here, at last. it will have been another fantastic year. ashley: very good. thank you so much for joining us.

tracy: we will look at what other cities can learn from this recovery plan. that is coming up. first, take a look at the ten-20 year treasuries. thirty year is also down four basis points. thank you for that non-taper. we will be right back. ♪ ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ 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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lori: i am lori rothman with your fox business brief. according to data from bank of america, merrill lynch, it went into u.s. stock exchange. unemployment rates went up in 18 states last month. twenty states reported job losses. the most since march. nevada has the highest unemployment rate. illinois second. north dakota, the lowest job rate at 3%. that is the latest on the fox business network. giving you the power to prosper. ♪

tracy: it is harder than ever then those newly minted smart college grads to land a job. a closer look at how we can stand out in those pools of resumes. >> a lot of people do not even use resumes anymore. i do not think that is the right way to go. tracy: weight. no one uses resumes? >> no. do you know how they sort through those? with a computer.

tracy: so what do you do? >> you have to meet these people. the only way to get known is to know somebody first. they start with the kids as freshmen. getting them ready to think about how to take the education and make it in the job market. you have to start early. you need experience. even if you are only a college student. come out with a plan with something specific. at least this person knows that you know how to apply what you know.

tracy: that is so stressful to go in as a freshman and think like that. >> that is why i think people are wrong about college. [laughter] tracy: i just think that times have changed so much. this is not a case where people can go to college and it be like summer camp. ashley: it has gone past order of the hour.

let's go back down to the new york stock exchange. uncertainty back in the markets thanks to the fed. >> the market hates uncertainty. we will still be up for the week. we will close out for the day. we are putting goldman and nike inc. today. ashley: thank you so much. tracy: one of america's most solvent cities has a recovery plan. ashley: one airline and submit for its lack of service. we will tell you about the novel new policy right after the break. ♪

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tracy: take no. harrisburg, pennsylvania is settling its that with creditors. for more on how the plan prevented a costly bankruptcy, -- so great to have you here. so encouraging that someone can actually pull this off. nevertheless, you have a plan. you think that this is going to work. >> i think it will work assuming the credit markets give us the continued relief we have seen in the last couple of days.

>> it indicates that we have had a holdback on the the tapering of qe. the credit markets went adverse. tracy: william lynch is the receiver on the job. you guys have come up with this really amazing plan. although, not that brilliant. why is no one else balancing a budget in this day and age. >> we are only balancing the budget by taking some of the infusions from the transactions. hopefully, some of the infusions will have an ability to stimulate the economy further to a point that the revenues will

be able to firm up its tax base. tracy: some of the things you have done, you changed to union contracts. we do not have enough time for you to tell me how you did that. >> we fundamentally reached a conclusion as the receiver's team that this did not have it to withstand additional taxes. i think we will find that will be the situation as well. you have to go into the structure of where are their possible improvements. look at all of the

possibilities. look at possibilities aptly done here. come up with as creative of away as possible to improve the cash flows other than imposing on people that should not have imposition. tracy: i hope all the other cities that are on the brink of bankruptcy are listening to you right now. thank you very much. ashley: europe's largest budget airline is trying something new. the airline has admitted that their reputation for treating passengers poorly has become a problem. mike o'leary told people that they should try to eliminate things that make people not.

not the most, you know -- tracy: that was brainstorming? all right. "countdown to the closing bell" is next. the cleveland clinic announcing it will have to cut thousands of jobs in result to the affordable care act. we have an exclusive interview coming up. do not go anywhere. ♪ my mantra? always go the extra mile. to treat my low testosterone, i did my research.

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♪ >> i'm adam shapiro and for liz claman. it is the last hour of trading, and we are looking at red arrows across the board. investors are paying a lot of attention to what the feds are saying about the taper or lack thereof. four of them, including james ballard speaking analyst data the u.s. economy and the future of the fed on a buying