washington sinking in. stock losses are holding even as we learn the president has summoned congressional leaders in an attempt to steal the shutdown. adam: no stopping the federal reserve this hour. exclusive interview with eric rosengrin, the shutdown delaying key economic reports. lori: wednesday is the new friday. today's payrolls report maybe the only jobs data, and the play of it. and let's head to the floor of the stock exchange and nicole petallides. markets may be rethinking matters. >> it seems that way, we are having some selling but i was reading a note, also the jpmorgan note today, it seems that the traders feel there's

not much conviction in the moves we are seeing so yesterday we moved higher, today we are selling off but the volume is certainly not that impressive. it just shows we are bouncing around, bouncing around, not too far off of the unchanged line. that means uncertainty in china playing middle of the road. the fear index is to the upside once again but you do see the dow down 71 points. most of the names on the dow have down arrows and a lot of consumer type names like mcdonald's and coca-cola also with down arrows, technologies trying to give it a go with headlines on blackberry spiking so we will follow that news and drug stocks, we will have some news today and amazon the new high. there is a lot going on but the big picture in front and center is what happens in washington and we are watching jpmorgan as well with jamie dimon over

there. connell: adam: president obama is meeting with wall street ceos sanders word he will meet in 5 hours with congressional leaders in an attempt to break the shutdown stalemate. rich edson joins us from the white house with a lot of moving parts and the latest is harry reid might be offering a discussion with john boehner? what is going on? >> a lot of discussions on capitol hill. right now ceos at the white house meeting with president obama, that meeting wrapping up, they will come out and the stakeout cameras in front of the west wing. we caught the ceos on the way in. the debt ceiling the number one topic to white house refuses to negotiate, house republicans want s to federal spending and policies. if they increase the debt ceiling we ask the ceos what their messages worse and here's what jamie dimon said. >> a the president negotiate on the debt ceiling? >> i would love to see resolution, solution the good for america, good for jobs and good for growth and everyone

says the same thing. paula what you want. i'm not a politician. i just want to see america grow so people have jobs. >> ceos will head to capitol hill to meet with a number of republicans so the fresher for the ceos is to convince lawmakers and folks at the white house to sign on with the debt ceiling compromise and there doesn't seem to be one with october 17th the deadline. more bipartisan discussion at the white house, congressional leaders coming jon corzine:30 to talk about a government shutdown where there is also no end insight. back to you. adam: when the ceos come out we will take that live if the u.s. statement are any of them letting on as to direct message they might have had for the president regarding the debt ceiling? >> that is the question i want to know. are they telling the president to negotiate. and has done so in private and some executives in the business

community. pushing the white house, start dealing with this. and taking a hard-line stance and pushing the administration to negotiate. adam: thank you very much. lori: investors turned to today's adp and lemon report, and 166,000 jobs added to 180,000 analysts anticipated. the dow is down 69 points. and to buy into the equity market, joining me is wells fargo advisor sr. equity strategist, always great to have you joining us. let's begin with the adb rrport compounded by the fact we may not get a government jobs report at the end of the week because of the shutdown. what does it say to you about the pace of job growth and how the markets react not having a as grown the each month?

>> we can live without a jobs report for several weeks. the adp report even though i don't rely on itsn't seem to me to have a big tie-in with the non-farm payrolls number but it gives us some idea and basically what it is telling us is the labor market continues to slowly improve. the market is very convinced. unless we would get and adp numbers that was 275 or something that was 75 i don't think the market is going to really reacts too much to that. you mention we could be trading down a little bit on that but the amount we are down right now is back and forth with the uncertainty over what is happening in washington with a little bit weaker adp report but the market is convinced, the labor market is improving very

slowly. adam: good to see you. your opinion on to a price target for the s&p range of 1850 to 1900 by 2014 despite what is going on in washington. at an end of the day you do not believe this country would never default, that the president would do something if he had to like an executive order ordering treasury to borrow more money, pay the bills or something else? >> the treasury would do that, treasury has the ability to prioritize payments, and hundreds of billions of dollars coming in, plenty coming in in order to pay the interest on the death. i guess you could say the probability that the debt ceiling is not going to be raised and the u.s. will default on its debt is not zero but it is so close to zero that it is as close as you can't get. absolutely the debt ceiling is

going to be raised, the u.s. is not going to default on its debt to. this is just a political on both sides, political ploy to try to incite a little panic, although fear into the public to put pressure on their congressman but rest assured the u.s. is not going to default on its debt to. lori: what do you think of the market's reaction to the shutdown? would it be better if equity markets reacted in one direction or the other up or down versus bouncing around this manic fit, you have been telling clients to buy and on every desk. can you do that in this climate? >> i think you can. i am a little disappointed we had such a subdued reaction. lori: we have breaking news, the ceos are speaking at the white house. >> anything that hurts this

recovery that is a little bit shallow and not very well-established and quite vulnerable and shutdown of the government particularly as a failure of the debt ceiling to complicate that. and our group as a group, is butpolitical and individual members represent every point on the political spectrum. the one thing they have in common, these policy issues in a political forum but they shouldn't use the threat to fail on its obligations to repay its debt. >> to really hurt the economy? >> the seriousness of the u.s. not paying its debt, small-business loans or whenever all the way of to the treasury bills, the most serious thing we

have. to slow down the economy and facing that again. everybody understands it. the question is what is the path to get that, the political question, we spend the meeting talking about what we see in the economy and serious repercussions. >> there is precedent for government shutdown, no precedent for default. the most important economy in the world with the reserve currency in the world, payment happens to people with money doesn't flow in and money doesn't flawed and i, and i'm not anxious to be part of the process witnesses are in. >> does it as you to do anything? >> the point is to make it clear we represent american households and represent lots of companies making clear people understand the seriousness of the situation and what we need to do, to make a political process work and make sure people understand the

seriousness. >> this wasn't a conversation about the issues underlying the political debate. it was an issue on process and the democratic process anyway and whether or not this particular resort was an appropriate resort. this particular threat. we are here as representatives of the financial system and so we are repositioned to really know early what the consequences are and it is unprecedented that this was the conversation that we listened but we also contributed exactly how bad it would be. >> there is a fight going on on different grounds, republicans would not be holding the country hostage but 2 change? >> we would like to see the fight not be on this ground and

it is not a question of agreeing with the president for agreeing with republicans. you can look at the membership of the group and find people on all points of the political spectrum. making sure we don't understand the consequences of long-term consequences of the shutdown, we are in the short-term consequences of the shutdown but certainly the consequences of the debt ceiling and we all agree those are extremely adverse but we haven't witness the extent of it yet and people wanted to tell us and in our meetings we are also meeting with leaders of the republican party, not just leaders of the democratic party. thank you very much. lori: and that was -- adam: lloyd blankfein. lori: and brian moynihan of bank of america after meeting with the president. interesting statements from lloyd blankfein, no precedent for the fall, there was

precedent for government shutdown. the issue was about the democratic process, not politics, they were listening so we continue to cover the story again, the biggest institutions in our country meeting with the president this morning, got a little glimpse what the conversation entailed. dennis: the stock of blackberry reversing earlier losses in the last few minutes. dow jones reports the company is getting some interest from distressed investors including servers. dow jones says one of the company founders is examining a bid for the troubled smart phonemaker after blackberry revised structure in charges from second quarter earnings report which was released last week. the company expects to incur charges of a $400 million up from $100 million for the rest of this fiscal year. can the government shutdown derail twitter's idea? charlie gasparino discusses details on the much-anticipated stop.

lori: the stock that just can't quit. sending netflix shares to an all-time high, check that out. adam: microsoft investors looking for the last word, dissension in their ranks and whether or not bill gates is getting pushed out. [ male announcer ] need help keeping your digestive balance in sync?

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so we can all produce energy more safely. our commitment has never been stronger. lori: as we do every 15 minutes check the market, stocks drifting lower and nicole peer at covering the action from the stock exchange. 91 to focus on netflix which is having another record day. nicole: it is hard to believe and some people took profits but another all-time high, 3:33:60. have to look and make sure. another great day, talk about subscriber growth, we have seen exponentially her netflix and carl icahn purchased 5.5 million shares of $58 and that was one point at, of three $30 level

house of cards, orange is the new black and it is nice to bring new all-time highs. adam: investors are trying to oust the biggest name in the company, bill gates. according to reuters, dennis kneale has more on the details. dennis: three institutional holders among the top 20, person thought we actually need these guys and say we went gates out, as they own 5%, gates owns 5% and they say the chairman being there or the new ceo won't be able to make big changes in the company, the big bold moves. gates has been cutting ties and selling stocks for a decade and in july of 2003 he owned a over a billion shares and by 2012 and $440 million, is below that 378 and look at the steak, cut from 11% a decade ago down to less than 5%. these three holders together own 5%, a bigger stake.

got to wonder, gates is one of the tech visionaries of our time. we think microsoft will be better off without him? lori: he is scaling back involvement on his own. >> if you want to find blame for missing out on the ice pad, the ipod, the iphone, he got they today in 2008. i talked to a guy today, who talked to inside executives who insisted gates is still meddling, second-guessing decisions so he is a very big presence and on the other hand the new ceo grows and grapefruit and decide i am doing what i want, a report to the board, not to you. lori: handcuffed by the government shutdown, the federal reserve said it would peg action to data. what if there is none? looking side the fed's decisionmaking process with eric

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lori: time to make money with charles payne and it is all about jobs, jobs, jobs. the private sector gained only 166,000 jobs last month. about lower than expectations. you are tweeting about this, of was reading those tweets. charles: you log one. lori: you have thousands of followers. why did this strike a chord with you? charles: we don't get any more from the bureau of labor statistics. we have to focus on this more. there was a guest earlier with you guys who said he doesn't look at it much but june, july, august, unfortunately for america, adp's number was higher than the belabored -- bureau of labor statistics and i think they are starting to get more of a correlation, more in sync. there's only a 9% difference, 4% difference in august.

good news for some people long tapering with the federal reserve. 166,000, even if it was 180,000 which was the estimate considering the dropout rate, quality of jobs, i don't see where the fed has any room. they might have missed their moment to make any changes. adam: mark zande reinvented the formula, used to be really far off but it has been more in line and a stronger correlation with the actual number we would usually get but won't this week. charles: the flip side has been when they have been wrong, when they underestimated come out with a number that is usually significantly higher, in february it was 40% higher, april 23rd% higher, if there is a mistake and it is hired is higher by a big margin. of is a mistake in adp there's a correlation but here's the thing. lori: some making money despite not adding to the payroll. charles: that is part of the

reason they're making money. not to digress but we hear the federal government is going to have 800,000, quote, non-essential workers out of 2.9 million you see it is a little bloated. that would not be any company public or private, even non-profit organizations wouldn't have that much nonessential people working. dennis: we have a hundred thousand nonessential, if they are not essential why are they there. charles: quickly, large companies fastest pace of hiring, might be a good sign in this jobs number, construction of 16,000, that was a good sign. overall in the absence of that number, part of a greater trend and the shenanigans in washington, almost jobless recovery. lori: thanks for fleshing this out. adam: the latest in mark cuban's insider-trading trial, they did not pull any punches in response to the fcc's opening statement

saying the dallas mavericks' owner, quote, has done nothing wrong, evidence shows cuban ever made any agreement to keep information about stock confidential. his lawyers also made a point to undermine the fcc's lead witness saying former ceo of guy far has changed his story several times and cannot be trusted. lori: a big day for ipos, 3 big companies making their debut. what will cause to take shares of the empire state building and burlington coat factory. nice range. adam: twitter's debut as most investors talking. charlie gasparino is here with the scoop coming them next. the latest on twitter's timing, listing exchange and if the government shutdown will change things. [ tires screech ]

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adam: it is 1:30. we want to head back to the floor of the new york stock exchange and check in with nicole petallides who has some newcomers tonight. hello, nicole. >> hi, adam. very busy day on wall street with ipos. we're bringing you right here to re/max. you can see up 23% right now. certainly has been a very busy one here. when you talk about real estate brokers we actually had the ceo on earlier today. how about burlington. you think of burlington coat factory. they compete in the discount world against tj maxx and ross stores. what a great ipo that is, up 46%. since we're showing up arrows, how about this one? empire state realty trust, another winner on wall street. they include obviously manhattan's empire state building and raising big bucks in that ipo three ipos. all three with up arrows. back to you. >> thank you so much, nicole.

so the government shutdown may be impacting a number of government workers at national parks but it is not slowing down twitter and their plans to move swiftly towards an ipo. charlie gasparino has a special guest. the founder after company that provides financial data for privately held companies like twitter. here is charlie. >> i hate when people mispronounce my name. >> good to see you, charlie. >> i heard a lot about you. tell me about the your company real quick and the twitter ipo. your guy is plugged in. >> we are essentially a bloomberg for private companies. we provide financial data on private companies and includes their deals. ipos, take privates, lbos, private equity transactions. >> if i want to know something about twitter i can turn to you guys? >> we have a good sense of the financials no one else has. has a lot of secrets. alibaba coming up. we have all the financials. they haven't filed for ipo.

>> chinese internet company. >> haven't filed ipo yet. we have full financials. we're part reporters and technology company. >> spys. >> corporate spys. >> since you put on the spy hat here, let's get to news headlines, we're asked by people what is happening with the twitter ipo. they filed s-1. >> confidentially. a lot of people don't know what that means. >> kind of broke this story with me and a woman who named katy roof. >> i know katy. >> with the ellipsis story we heard from twitter. we asked are you going to do an ipo. they said dot, dot, dot, took it to mean something happens and it did. here's the thing. people are waiting for the expanded s-1, expanded documents. >> it is really the reveal documents because the confidential filing, the only people seeing it are the lawyers, the bankers and twitter management. >> right. >> so right now, the public can not see a thing. >> their financials? >> financials the whole thing. >> right. >> we're about to step into the

u.s. jobs act april of last year. we're about to see for the first time, we'll talk about the timing of that, about to see finally lifting the skirt on twitter's financials. >> when do you think that will come? >> that will come friday is our information. "the back-up plan" is next friday. >> now, why friday? >> friday is traditionally when so far, based on our privco's tracking of confidential ipos through the release they happen on friday. this consistent in road show videos typically come out friday before the monday of. road show. the reason behind it, they get two to three days where guys like you and me don't get to opine, we're on vacation or business press away for the weekend. >> i'll be on vacation, yes. >> "wall street journal" is closed all of that they want two or three days to tell their story without being nitpicked. >> we should point out "wall street journal" now publishes on saturday. much more of a intense media environment. i understand their point. they can control the message better over the weekend.

>> exactly. even with the "wall street journal" skelton staff a lot of life-style saturday. >> right. >> heavy analysts they release after 4:00, five fer 5:30, on friday. they get until monday morning to basically tell their side. >> the notion is to do the ipo very quickly best fed starts to taper obviously next year and do it this year, correct? >> the speed of it is breathtaking this is rushed job there is no question about it. if anyone can do it twitter can. >> give me the timeing. >> basically back in january we predicted based on information that twitter would file in september to two public in january 2014. >> right you. >> actually made that prediction would be 2014. >> yes. >> you're absolutely correct because we know from inside sources that was planned. >> that was initial plan. >> why did it change? fed tapering maybe? honestly the facebook goes from ipo flop to all-time high. >> right. >> when you see blue sky in the ipo market, ipo market window opens and shuts without warning you have to push it.

>> this year sometime before thanks giveing. >> we have more specifics than that. >> let me ask you another question because there is another question burning in people's mind, where do they list? you're saying 99% sure it will be nyse. >> that would be a huge victory for nyse. a huge defeat for nasdaq traditionally -- >> even quicking nasdaq when it is down honestly. >> why do they do that. >> before facebook's ipo, six, seven years, nasdaq had 94% of all tech ipos were on nasdaq. >> right. >> nyse had 6% market share. post-facebook ipo flop everybody is too afraid to do it with -- >> technical problems with the nasdaq. >> had two now. another one since then. not as big but another one since then. >> they were closed down. >> twitter will be a very frothy ipo, similar to facebook in many ways with a lost volume in the opening trades. the risk of it is too great and the fact that the nasdaq market share has gone from 94% to 20%. >> is this, let's be clear here.

this is your surprise or hearing it from inside twiter? >> we, senior sources inside twitter have told is that they're going to do new york stock exchange. >> when will we know that? >> well, you should see it in that public filing. >> if they make it this friday. >> they don't have to say the exchange but unless they're playing games and trying to negotiate a great deal with nasdaq which is what facebook did, most filings come with exchange listed. facebook left it out because they were playing each exchange off each other. they got all sorts of exceptions. nasdaq gave them a two digit ticker, fb, not the four-digit ticker. unless twitter plays honestly at this point twitter is on a very rough schedule. >> they have go to do it. so we have to end it there, we'll say this is sam's prediction, friday. >> privoc -- prief very -- prief co's prediction. >> friday, huge news day, if notified. >> you guys heard it first.

lori: charles, great stuff. adam: friday's jobs report is looking less likely because of the shutdown. that liveleave's adp's report only jobs data for the week. investors are not happy about it. lori: what the government shut down means for the fed's next move. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future...

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>> i'm cheryl casone with your fox business brief. enterprise holdings, the largest u.s. rental car company, plans to hire 11,000 new full-time workers by july of next year. that move could boost the total workforce to 80,000. the privately held company operates enterprise and alamo rent a car and national car rental. dan lobe is calling on sotheby's chairman to quit criticizing him for failing to innovate. third point is sotheby's their largest shareholder. bean by baby's creator pled guilt to a tax evasion charge that could send him to prison in years. he broke down and cried and apologized not paying $5 million in taxes due over 11 years. that's the latest from fox business, giving you the power to prosper.

lori: inside the feted, we are getting our first take since the government shut down. voting fomc member eric rosengren joining our peter barnes exclusively. sinned it over to you, peter. >> lori, thank you. president rosengren, thanks for joining fox business once again. in your speech today you sounded a lot more concerned about the outlook for the economy, including in light of the government shutdown that we're now in day two of. you suggested that that might re to keep policy a accommodative and not start tightening anytime soon until 2016 potentially. explain that. >> so the, at the september meeting we were concerned that there was a risk that we might have a fiscal shutdown and possibly problems with the debt ceiling. now we actually have had the

shutdown. remains to be seen how the discussion is with the debt ceiling. but that does mean that we may have a weaker second half of the year than we were forecasting even at the september meeting. it is not just what's happening with the government spending. it's what happens with businesses and households as they see what is happening in washington. and to the extent we want to get a stronger economy, we shouldn't be removing accommodation until we actually see that in the data. >> so no tapering, no pulling back, dialing down on bond purchases anytime soon as far as you're concerned? >> well, depend on the economy and it would be nice if the economy were able to quickly snap back from what is currently occurring down in washington. it is unclear at this point but unless we do get stronger date that what we are likely to see i would not expect we would be removing the accommodation. >> how hard could the government

shutdown, a, a failure to raise the debt ceiling, how hard could those hit the economy? how bad could it be, do you think? >> so it's hard right now to forecast exactly what's going to happen. there is a difference between continuing resolutions, not getting passed and the shutdown that we currently have and what's happening with the debt ceiling. the debt ceiling has the potential to cause more permanent damage because it would affect the willingness of investors to hold treasury debt not only now but in the future. my hope and expectation there will be some kind of an agreement in washington that the debt ceiling will become less of an issue but it is certainly a concern. >> you would hope for some kind of resolution to the budget situation as well. >> yes. >> but when we saw a, a government shutdown back in 1995, '96 when, we saw the fight over the budget and debt sealing in 2011, we saw economic growth slow down, in some cases significantly. >> so fiscal disruptions have the potential to slow doesn't

economy in an undesirable way. we were expecting we would actually see a pickup in the second half of the year. that was partly driven bit hope that consumption would improve. we had up to now an improving stock market. housing prices have been going up and some increases in payroll employment growth. all those factors would say normally you expect consumption to be improving and we expect the fiscal headwind to abate. that fiscal policy would stop being a headwind. it doesn't look like that will be true and actually fiscal policy is being more disruptive than we would have anticipated. >> you want to make sure the fed keeps all of its options open, particularly on accommodation, continuing quantitative easing, at some high level, the current level or some high level, continuing to keep interest rates low for an extended period? >> so it depends on the data but if the data continues to not show much improvement, then that would be an environment where we should continue the level of accommodation including the

purchase program and it is desirable for the economy to have the interest sensitive sectors continue to grow. if you look at the components of gdp that have been improving they have been the interest-sensitive sectors. auto sales have been growing quite strongly. that is partly a function of the fact that interest rates have been quite low. it is important that interest rates stay low enough that the interest rate sectors continue to provide some improvement in the economy over time. >> at the last meeting at the press confess the -- confess the fed chairman flagged issue of a government shutdown and debt ceiling and i asked him at the press conference, what would the fed stand to do additionally to help the economy if you start to see all of this start to hurt economic growth significantly? would it be more accommodation, more increased the level of quantitative easing, right now $85 billion a month? could you adjust your forward

guidance, your guidance for investors and consumers about when you might start to tighten? could you push the date for tightening out? >> so both those options would be options if the economy were not growing as fast as we wanted we could consider. i think we should keep all options on the table until we see what actually happens and how the data cops in but i think the chairman is exactly right, if the economy takes a big hit from what is happening with fiscal policy or some other shock we're not anticipating right now, that monetary policy should remain accommodative and we should use whatever tools we have at our disposal to make sure the interest sensitive sectors at least continue to grow appropriately. >> as you know there is some debate whether or not monetary policy can continues to help, particularly whether quantitative easing continues to be very effective. it might not be very effective as, as might not help the economy as much anymore. what do you think? could it still be a potent tool, a potent stimulus tool for you?

>> the interest sensitive sectors are growing rapidly because interest rates are low. so the fact that while mortgage rates have come up quite a bit, the fact that they're still relatively low by historical standard is it one reason why we're getting roughly 15% growth in residential investment over the last year. one reason that auto sales are so strong, if you go into auto dealership you will find a rate around 2%. that is very low by historical standards. that is cash flow purchase for many people. one reason they can afford the cars they're buying because interest rates are low. interest rates are having impact on the interest rate sensitive sectors. we can't have much influence what is happening with our trading partners. we can't have any influence on fiscal policy and the decisions being made on fiscal policy. we can influence the interest sensitive sectors and they're growing in part because of our actions. >> you talk about keeping eye on the data. you have a problem right now with the government shutdown.

the government is not collecting a lot of economic data it collects for critical reports like the jobs report for friday. the fed could be flying blind. what are the implications of that for, for the fed and for policy? >> so for a data-driven policy you do need data. the government is not the only source of data we get. for example, the auto sales comes from the private sector. we had the adp report today. there are other sources of information we can certainly look to but it does hurt our ability to determine how the economy's growing without having things like gdp, unemployment, payroll employment numbers available so i don't think we're flying blind but we're a little bit impeded if we don't have all the kinds of data that the government's normally produceing. >> in the speech you suggested that without that data you would rather err on the side of of continued accommodation rather than take a chance on tightening or tapering.

could you discuss that. >> we should continue to have accommodation until we see in the date that that the economy is picking up the way we expected in our forecast. to date that hasn't occurred. between june and september we had a weakening in the data. our forecasts for gdp did come down. still growing roughly at 2%. we want to see stronger growth than that we have payroll employment growth continuing. it is not just continuing as fast as i would like to see. we need to see improvement in the data from where we are right now. when we see the improvement in the data, that will be time to remove accommodation. >> what i was saying if you don't have the data to look at, err on the side, continue highly accommodative policy? >> we should look at all available data, not just government data but more than likely i think we would err on the side of waiting until we had good data to be sure we're seeing a pickup. >> boston fed president eric rosengren. thanks for the time here on fox business live, now. lori as we usually do, we are going to take tape some

additional questions with president rosengren and we'll be posting that section of our interview on our website later this afternoon. so look for that. foxbusiness.com. lorely, back to you. >> fascinating interview, peter. thank you for bringing it to us. the taper discussion has really shifted to the backburner all things considered. adam: right. the fact that you have at least one of the members of the federal reserve saying now 2016 we'll have easy money. but they always point out the financial crises we live through take about 10 years to resolve anyway. lori: attack of the swedish fish, no, not the sweet candies punishing your waistline at halloween. these swedish fish. jellyfish swarming and doing some real damage at a power plant in sweden. adam: let's get some candy corn. david versus goliath, 2.0. the unbelievable story and winner over disputed twitter handle at chase. ♪

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lori: breaking news. we are now learning that treasury secretary jack lew will be in attendance at the meeting with the president an members of congress at 5:30 p.m. eastern time. of course in washington, d.c. jack lew pointed out that october 17th is the deadline. that is when the u.s. will bump up against the debt ceiling. adam: as we prepare for the twitter ipo, twitter may be losing touch and risk the loyalty of millions of its users. in a fox business exclusive, one story pit as single user between wall street, twitter and 20,000 bucks. jo ling kent is here with more. who will win on this one, jo? >> looks like twitter has already won, adam. the story of a $20,000 twitter handle, chase giunta owned

sought-after handle@chase and jpmorgan chase appeared to want it he said. a broker offered to buy it from him for $20,000. he said no thanks because it violated twitter policy. he suddenly got a contact from twitter saying his handle after owning it for several years violated their policy. soon after his twitter handle was taken away and jpmorgan chase was tweeting from it. >> i'm obviously not the first one to make a commentary account or fan account or anything like that. i do feel like i was singled out. so twitter could play into the hand of what jpmorgan wanted. >> jpmorgan had no comment on the handle issue and twitter told fox business they don't comment on individual accounts but pointed us toward the parity policy. the profile name should not list the exact name of the subject without distinguishing words as not fake or fan. the complications his first name is chase. one more important detail i would point out.

giunt was retweeting comments from frustrated twit chase customers from the chase handle. he wrote the word chase in signature blue color in avator photo. twitter said that violated the copyright poll sid. he disagrees with this. with the ipo around the corner has no interest in investing in twitter's po. he feels jilted by the company he once loved but he still tweets with his whole name. adam: if you copyright in color, you would be in trouble because bank of america is that color. thank you very much, jo. >> thank you. lori: this is not some sci-fi "b" movie. swarms of jellyfish have shut down the world's largest boiling water reactor. the swedish plant was closed over weekend with a giant cluster of jellyfish that clogged the water intake pipes. the jellyfish entered the pipes 60 feet below c level.

the uninvited guests have been cleared and receipt actor will be reactivated today i love watching jellyfish. they're so calming. adam: watch, don't touch. >> no. adam: the dow and s&p are in the red. tracy byrnes and ashley webster talk with one money manager that a correction is coming soon. find out what is up next and what he is buying.

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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 never stop achieving. that's why, at barclays, our ambition is to always realize yours. ashley: welcome back, everybody, i'm ashley webster. tracy: and i'm tracy byrnes. weak jobs numbers and government shutdown realities are tag-teaming to pull down stocks. the dow is tumbling, down about 72 points right now. third loss in four-days on the markets right now. we have got a money manager that will tell us why he is not buying stocks anytime soon. ashley: wall street ceos speak out after a white house meeting on all this fiscal mess. why they are urging action on the debt ceiling deadline now of

course just two weeks away. tracy: stopping the government shutdown, president obama calling congressional leaders to a meeting just over three hours from now. congressman sean duffy will tell us what must happen to break the stalemate. he has his magic eight-ball. ashley: at this stage, anything. first off the top of the show, let's get to the stocks slipping lower. let's get get to nicole petallides on floor of the new york stock exchange. nicole, stocks are off session lows. >> they're off session lows. interesting how they make their way back to the unchanged line, instead of taking out new lows. that shows you uncertainty in the markets. people are in the wait and see mode. vix, fear index is to the upside. adp report came in, that was weaker than expected for private jobs. we'll get weekly claims tomorrow. and over all, you're seeing all sectors to the downside and dow components that have been under pressure such as coca-cola, some of the soda makers are under pressure after jpmorgan looked

at the group and actually cut the estimates for the group. but united technology shares, to the downside on heels of the government shut down whereas the defense department inspectors were sent home. they're slowing the production of black hack helicopters that come to aer. halt. tracy: from the shut down to the debt ceiling and they were pretty vocal. rich edson at the white house with details. hey, rich. >> they're pretty vocal. they end up saying nothing. it is just a lot of words. that is actually how congressional testimony usually

goes. that's right, ceos were here for about an hour meeting with president obama. they're off to capitol hill and many are off to capitol hill to meet with a number of congressional leaders. from here it was real push among those in the professional community to get together to increase the debt ceiling before the deadline on october 17th. we spoke with lloyd blankfein, goldman sachs ceo after the meeting. we asked what side are you taking here? do you want the president to negotiate or not? he said he refuses to get political. >> this wasn't a conversation about the issues that are underlying the political debate. this was an issue on process and, the democratic process in a way and whether or not this particular resort was an appropriate resort. in other words, this particular threat. >> in saying that was slightly political. the white house is pushing congress to simply increase the

debt ceiling without anything attached. white house refuse to negotiate. the republicans will say they will attach some type of a measure to the proposal to increase the debt ceiling. democrats and republicans will be a at the white house 5:30 this evening. they will speak to president obama about the government shutdown. of course as we get close toward debt ceiling appears, slowly these two issues, government funding and the debt ceiling are getting wrapped up into one. back to you. tracy: they sure are. you brought it up. we have got to ask you. what is the latest on the showdown? will it be one presentation to the public and here we fixed it all? >> that is doubtful. i don't think that really happened with this group. the window of opportunity to do that was years ago. i don't think it will happen tonight, tracy, check the box type of meeting with, president obama get as photo-op and meeting congressional leaders and everyone goes back to the camp and retreats to the camps we'll fight this one out and win this one.

republicans continue to pass piecemeal proposals to fund certain parts of the government. that will likely happen at some point this afternoon within the next couple hours. senate democrats are saying no way. you fund the whole government or fund none of it at all. tracy: rich edson, good thing you're down there to keep all this straight for us, sir. get some coffee. i know you've been working a lot, you poor thing. ashley: rich is right. they talk a lot but don't really say anything. tracy: rich edson does. ashley: he does. thank goodness for that. more on the markets. our next guest says forget stocks, they are overvalued. bonds, i said bonds are the place to be. joining us dave wright, management director of sierra management investments. dave, make your case, why bonds, not equities? >> bonds have had a very severe selloff from early may until about six weeks ago when they started sort of a bottoming process. we think that certain kind of bonds, particularly municipals and high-grade corporates --s

got overly punished and we think the episode is over. these bond have 3 to 4% upside in value as well as paying yield. ashley: so do you own any equities at all? >> at present we don't, either in our two mutual fund or in our private accounts. we own zero equities, domestic or foreign. ashley: are you a little concerned you're too exposed to the bond market? >> not really. overall our portfolio is diversified among about six or eight different kinds of bonds. and we're about 90% invested in our portfolios right now. these bond in our view have very little downside and, our shareholders and private clients can tolerate an occasional 2% dip. it is not a great deal on the way to good returns. ashley: so is this predicated, dave, on the belief the fed will not only be tapering in the near term, but maybe, for as long as

six months? do you believe that? >> yeah. yeah, we certainly do. for two reasons. we think the economy is beginning to soften. we actually had a more extended upcycle, recovery cycle since the recession than normal. we see a lot of signs in the data that the economy is in the early stages of a normal cyclical downturn. and that is not in the market. you have corporate executives, 7-1, giving negative foreward guidance. you have a market technically oversold, you have record, margin, and, margin moves up rather rapidly when people get very greedy. this happened in 2,000 and again in the summer of 07 and therefore we think this is a significant topping process. ashley: that's interesting, dave. how do you go about this? you don't get into the etfs. you don't buy the individual

issues. how do you play it? >> well, in our mutual fund we do on occasion use etfs, in addition to unaffiliated, well-managed mutual fund to access the various asset classes. so we are global macro top down. we invest anywhere in the world. we can invest in commodities, we can be long the dollar index, short the dollar index. we invest in reit preferreds, european small cap equities, muni bonds, floating rate. so we have a very broad charter and it's a very good way to diversify against downside risk. ashley: when do you anticipate ever dipping back into the equity market? >> well, number one, when it is undervalued and presently, for example, ned davis, who is very respected long-time independent analyst, blames believes the stock market is about 24, i'm

sorry, 25% above fair value. we think it is maybe a little more. so we're waiting for a really strong, cyclical decline, such as wave had twice already this century. and then we'll load up with both arms. ashley: very good. thank you so much, david wright of sierra investment management. thanks for joining us. >> thank you. ashley: warren buffett said he believes that, it's about, about fairly valued right now. not many folks saying it is still undervalued so. but 25 or more percent? i haven't heard that. tracy: i know. just two people, two opinions. ashley: that's true. tracy: that is why it is confusing these days. the house though also really confused about to vote on more spending bills that won't get past the president's desk. when will the lawmakers find a real solution? congressman sean duffy will weigh in next. ashley: new york state says wells fargo is breaking rules of

the 25 billion-dollar landmark mortgage settlement. liz macdonald with breaks news on that. time to look at oil. after sinking for a while, coming back a little bit today, up $1.77 at 101.83 a barrel.

tracy: so more on this government shut down. president obama will meet with congressional leaders at the white house about three hours from now. meanwhile the debt ceil something looming. treasury secretary jack lew warned that a failure to increase the limit could be catastrophic. aye yi yi. joining us republican congressman sean did you have any. now democratic congressman peter welch was scheduled to join us, he last minute, to attend a cheerleading conference where i call cheerleading session with nancy pelosi. a little rah-rah to keep the stalemate going. everyone is watching right now. they're fed up with all the nonsense. we here we think everyone should get a time out and start over in couple of days. >> tracy, how are you doing? is this for me? tracy: yeah, please.

help us. >> first of all, got to tell you, i would rather be with you than with nancy pelosi. thanks for having me on. listen, our conference, republicans in the house, we're bending over backward, trying to find a deal with democrats. we have, we moved off our position three times trying to find common ground. last night we were trying to open up our malls in washington, d.c. and make sure our vets are covered. they're saying no to everything. we even said, hey, let's open up the government for a week. and, as we negotiate this out. and they said no to that. i think they believe that this is great politics for them. this is really bad for america. we have to sit down and figure this out and they don't want to talk to us. tracy: way bad for america. president is calling this a republican shutdown. it is not. it's a congressional shutdown. it's a pox on both houses because you guys can't come to terms. i get everyone is come together table but the obamacare thing seems to be the biggest sticking point, right? they're not bending on it and you're not bending on defunding it or putting it off.

>> tracy, let's be clear what we asked for. we first started off saying we want to defund obamacare. we moved from that to a full-scale delay of obamacare. our position we voted on monday night. we want to have barack obama and jay carney and his administration in obamacare with all of america and with members congress. they shouldn't get their separate health care plan. they should be with all of america if this bill is so great. so we asked for them to be in obamacare, number one. number two, president obama had big, powerful lobbyists, big business come to washington, d.c. and because of that lobby effort he has excluded for one year the employer mandate. we're just saying let's treat middle class families the same way you treat big businesses. give them also a one-year delay as well. the exchanges will still be up. he will still have the subsidies out there. we're going to treat middle class families with only me as lobby it fighting for them the same way as barack obama is treating big business this is really simple. it shouldn't be that difficult. they're saying we don't want to

negotiate. we don't want to find common ground. that is why you see the government shutdown. the door has been slammed in our face. tracy: i don't get that actually. to your point i think that is a reasonable middle ground right now, right? especially because of the audacity of the fact that the congressional leaders aren't going under obamacare right now and to your point, corporate america gets a year by. maybe the rest of us should do. what is the problem with that? why are they pushing back on that? >> listen i have no idea. i think this is more about politics. they want to see a government shutdown because they think it is good for them politically. i think they believe the media will carry water for them and they're going to, knife the republican party. we have, listen, this is an incredibly reasonable position. the president has won. i mean he has obamacare up and running. we just asked for some slight little tweaks to the bill and we'll open this thing back up. tracy: it is not helping your party at you will when you start showing pictures of vets who can't get into museums and tear

jerking and killing us. >> but tracy -- tracy: you're pushing for no pay. if the government is shut down, congress shouldn't get paid. where do we stand on that? >> i sent a letter to the cao, saying withold my pay if this thing is shut down. back to the other point, the president plays small ball politics base. remember all the kid saved up money at bake sales and tried to come to washington, d.c. and tried to get in the white house and he shut them out due to sequester? he did the same thing to veterans this. is open-air memorial. this is not staffed. he put up fences to keep our vets out at who fought against nazi germany. this is playing games with our vets and little kids. tracy: amen, congressman. have a timeout. i think that would be the best answer for everybody. >> i like timeout. that is good. tracy: check out the pelosi cheerleading party. let us know how it goes.

>> i will. thank you, guys. ashley: i thi should be in timeout. tracy:, unfortunately it is round. they need corners. ashley: tell sit them in the corner that will keep them busy for a week. quarter past the hour. let's check these markets. let's go back to nicole petallides down on the new york stock exchange. nicole, several names making their debut by the way on wall street today. >> that's right. the market tone may be to the downside, down about 90 points for the dow but we have three ipos today, familiar names to most folks at home. you can see they are all faring quite nicely, stealing the show. let's break them down one by one. looking at empire state realty trust which is up more than 1%. it is at $13.20 a share. price offering was $13 which was the low end of the range. they have the empire state building among other properties. we're also looking at re/max. this may be a way for people to get into the housing recovery to

a certain extent. that is up about 25%. priced at 22 bucks, just above the high-end of the expected range. as i noted 2.50 dollars basically. there is burlington stores, up right now, $8.05. 25.40, up 50%. what a move here for burlington stores. obviously raising some big bucks. the expected range right now, they priced their offering at 17 bucks. it is 25.40 for this retailer. back to you. ashley: they're all on the positive side. nicole, thanks so much. appreciate it. tracy: wells fargo sued for allegedly break the rules of the landmark mortgage settlement. liz macdonald is going to tell us which bank could be up next for this lawsuit. ashley: first let's take a look how the u.s. dollar is moving today. generally weaker against the currencies. we seen oil move up. we've seen metals move up. dollar down, euro, pound, all of them except for the canadian dollar the loonie. we'll be right back.

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tracy: the man leading the president's task force on mortgage reform went after the country's biggest banks in really big way. here is more on the big story. liz macdonald. who is in the cross-hairs now?

>> wells fargo. the new york attorney general is playing hard ball. take a listen to what eric schneiderman said about wells fargo. >> wells fargo has been if not the, certainly one of the most difficult banks all across america in dealing with homeowners. >> yeah, i'll tell you something. massachusetts attorney general is now saying that she is sending letters to the mortgage settlement overseaver saying that there are recurring issues with lenders. the other bank in the cross-hairs potentially, citigroup. panic attacks happening at the third largest bank in the country over there because of possible mortgage issues. what is happening is this mortgage settlement deal, remember the megadeal, the settlement last year, put 304 new standards on lenders saying listen, tough do betwer the loan modifications. tough notify the borrower five days there is a problem with documents or getting refinancing and three days. one point of contact.

the borrower's concern can work on behalf of borrowers with the banks. what is going on how they find out about the problems. how the attorneys general finding out about the problems. take a look at this, the new york attorney general took 60 million out of the settlement last year to basically deputize this whole network of non-profits with legal service groups and counseling agencies. you see here to track mortgage settlement violations they're using grass roots groups to report back to the new york ag on bank violations. 59 housing counts. agency as 35 legal services groups. this is the big deal. the sticking point with wells fargo came to a standoff, they don't want systemic mortgage servicing errors. that is why they face a lawsuit. this is not end of problems for wells fargo. the ag in new york is saying, 210 violations with 96 borrowers although -- tracy: that sound pretty big. >> sound pretty big.

ashley: all i can say i totally agree with the attorney general. tracy: ashley is doing everything he can to bite his tongue. >> we've done 308,000 loan modifications across the country. we're a leader in preventing -- people are having trouble getting through to wells fargo for the modifications. ashley: they never call back. tracy: and no comment. ashley: no comment. thank you for the timely report. the government may be shut down but cattle prices by the way up and hitting new highs. our jest flock is live from wisconsin with all the details. jeff? >> i have been to a lot of cattle auctions, ashley. i never been to one like this. you are looking at cows that will fetch more money than you've got. take a look where this will take place. it is almost like a beauty contest. i guess it is. a cattle auction on steroid. jason will be conducting the auction. hugely popular. >> absolutely.

we're looking for great turnout today. we have exciting lineup of cattle and we're excited to see what happens. >> i want to see some of those. walk over to the barn, if you would. we want to put up numbers. the cattle industry is booming right now. if you look live cattle prices feeder prices on cme. these are the top dogs. i guess we call them that. these are milking cows. some of these will fetch literally hundred of thousands of dollars today? >> we're looking for cattle to bring in variety of price ranges today. keep in mind we're in the dairy industry. whether in relation to the beef market. we have a bit after marketplace and relying on milk prices. >> the other thing you rely on is the cost of commodities. and right now compared to last year we put up the corn charts, last year you had 8-dollar corn. now you have a three-year low on corn. that certainly drives it. >> it does. commodity prices in the dairy industry, low commodity prices

lower the cost of input. if we keep the price at milk at reasonable level, it helps dairy farmers maintain margins. >> jason, we appreciate it. we'll hear from him in the 4:00 hours. we'll hear the calls. you do that? >> we'll be certainly underway with a fast-paced auction in just about an hour. >> excellent we'll have it live on the fox business network. booming cattle market. some of these cows 3, $400,000 a ahead. ashley: utterly ridiculous. someone had to say it. tracy: we don't go with auctions ever because we talk with our hands. would i have cattle. hi. all right. anyway. coming up, would microsoft's future be brighter without big ol' bill gates? some top investors reportedly think so. we'll have details next. ashley: how the government shutdown is impacting the federal reserve taper timeline.

peter barnes has more with his exclusive interview with boston fed president eric rosengren. that is coming up next. [ tires screech ] ♪ [ male announcer ] 1.21 gigawatts. today, that's easy. ge is revolutioning power.

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tracy: 90 minutes until the close. the dow down. there is more red and green on the screen. microsoft, holding on, even with all its legal battles. of course on the losing side, mcdonald's, coca-cola, new member, the second all not going so well. nicole petallides and the other hand during fantastic on the floor of the new york stock exchange. >> reporter: we try. getting used to some of those new dow components which recently entered the dow jones industrials. the dow right now is down about 75 points.

talking to the traders, what they are netting is the fact that everyone is in this wait and see mode. a little bit of nervousness. we are not taking out any prior loves gossip cleanup breaking through any high speed sort of in this area where everybody waits to see what is going on in washington. in the meantime take a look. tesla has been a stellar performer. up nearly forward 50% this year. you do have one analyst saying it is priced to perfection. already upgraded five times. at this point now you have bears saying that there will be a mutual, sticking to their target. they don't see a meteoric rise from this level. unless something changes, some sort of long-term process where something interesting such as a significant advance in their battery technology, then it will go ahead and boosted further. for right now it will stick around these levels.

tracy: one of the first negative angles that we heard. everyone. that is tough. this deal and a bit. all right. breaking news on oil, closing up $2.6, $104.10 per barrel. today's gain of over 2 percent snapped a 3-day losing streak for crude. ashley: of 5 percent right now. so a little more volatility. lack of the -- government dated due to the jobs report makes gauging the economy that much tougher. peter barnes is in burlington vermont with more on this exclusive interview with the fed president. >> reporter: that's right. and he told us in the interview, i asked him, does this mean with the government shut down that it will not be collecting data it normally collects? not releasing important economic reports like the jobs report friday, and does that leave the

fed kind of flying blind. and it he did not go that far but he did say that if the fed was going to air, if it does not get that kind of data a share on the side of continuing quantitative easing, continuing to buy $85 billion a month in bond purchases to help keep interest rates down. and he said that now that we have a shutdown in the government that the fed should be prepared to keep up stimulus, to keep up the easy money, keep that going. he said that at the last meeting in september when a lot of folks thought that the fed might start to taper purchases, he was not ready to go there. take a listen. >> it was not as close to call for me as it was for some of my peers for several reasons. the incoming data was not coming in as strong as i've hoped. much stronger than 2%. the labour market statistics were not coming in as strong as

i helped. also, a big increase in interest rates, higher interest rates mean i'm more concerned about whether the sectors will continue to provide stimulus to the economy that they have up to now. finally, there was a concern of all would happen if fiscal policy. the time the meeting that was a risk. unfortunately now is becoming have come. >> reporter: he also pushed back on some criticism that causes its easing really isn't working very much anymore, does not have as big an impact on the economy as a used to. he says, i still think it can help keep interest rates down. as a result they should remain in actual box. that sound bite came from a portion of the interview we did a sicily for our website, foxbusiness.com. it will be editing and posting another five minutes of our conversation later in the day. so much for that as well. ashley: so terrific stuff as always.

thank you. >> reporter: you bet it. tracy: we know steve ballmer is leaving microsoft is ceo in the next year. is it time for bill gates to get -- i said that so wrong. i blew it. ashley: deep breath. tracy: get to the gate. as still said it wrong. i didn't even know. the story and apparently the landau as well. this is why i can't deliver a joke. ashley: the question today, is bill gates bad for microsoft? three of the 20 largest institutional holders. never mind that these bill bashes refused to identify themselves. these institutional holders are to avenue seal might be intimidated. some people say that he still metals a lot, second-guess ballmer and might hinder a move beyond the windows monopoly that

still chairs of over 20 billion in annual profit. cutting ties his company for years to landing the ceo job to steve ballmer in 2000, gave up any day-to-day role five years ago and has taken my christoforous over a billion shares, noun down by two-thirds to fewer than 400 million shares . just before microsoft went public in 1986 bill gates owned 49% of the company. by 2003 that state was down to 11% and is now under 5 percent and falling. he sells 80 million shares per year. in five years' time he could be out of microsoft entirely. then again maybe the presence of bill gates limbs lars over any new ceo no matter what the honor should take. he is one of the most highly regarded tech visionaries of our time. these three dissidents are likely smaller holders. vanguard is the largest microsoft holder. state street capital, black rock, fidelity. the three bell bashers combined

stake of 5%. the big question now is how even the bigger holders will feel about giving bill gates the gate. let's get that. almost nowhere. and he has been chairman the entire time. ashley: as true pity busy doing his philanthropic work. tracy: like you're saying about how he is looking down on the new person. >> chris and courage and decided not care what you have to say. tracy: it is probably due time. >> some people have been calling for gates' to go back and. not innovative enough. you kick up both at once and future lead to clear the way for use changes. busted up, spin off consumer business. we will see. ashley: thank you. tracy: thank you. ashley: obamacare reality sets in for doctors and many fear it could lead to less health care

for all americans. here next. tracy: first, time to check your chin and 30-year treasury as we head out to break. we will be right back. ♪ nice car. sure is. make a deal with me, kid, and you can have the car and everything that goes along with it. [ thunder crashes, tires squeal ] ♪ ♪ so, what do you say? thanks... but i think i got this. ♪ [ male announcer ] the all-new cla. starting at $29,900.

...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> reporter: am jo ling kent with your fox business brief. blackberry is getting interest on distressed investors to, this according to the dow jones.

one of the company's founders is still examining a bid for the trouble smart phone maker. blackberry has declined to comment. the private sector gained 166,000 jobs last month coming in below the expected 180,000. still making it the largest payroll increases chin because the august number was revised down. and that beanie babies creator has pled guilty to a tax evasion charges could send him to prison for years. wrote down crying in federal court in chicago and apologized for not paying about $5 million in taxes to over 11 years. as the latest from the fox business network, giving you the power to prosper. ♪

♪ tracy: well, and today's medical dollars obamacare officially

opens. despite computer glitches millions of people are continuing to flood the website which, of course, is still to be determined as it is how this is going to impact the quality of care you kate and whether hospitals are even equipped to handle all of these new patients thankfully joining us, a physician himself and a professor of public health at johns hopkins and the author of unaccountable, how transparency can revolutionize health care. thank you for being with us. based on the title of your book, does obamacare get a closer to transparency in medical care? >> it makes some attempts a transparency. remember, even the authors of the bill said that this leaves a lot of work that has yet to be done. you know, it gets us closer to health care as a human right in this sense that there is some form of universal coverage, but still not everyone is covered with soot is another whole area which is the cost crisis.

tracy: may be a reading that thing. as talk about the stuff that people are concerned about. we mentioned it. on more people going to be flooding hospitals? does that mean less attention to those of us that it there? >> absolutely. a lot of us feel flattered. new patients are walking in the door. when you have a large population that does not go to a primary-care doctor and not have insurance coverage. we all know what the had the doctors will do, but more likely than not commit to paying for something in bang a lot of money it are we going to use it barleys not use the reserve room. >> we are getting hammered with reimbursement spirit is been going on for 20 years. every year the government vows down the reimbursement. it's getting to the pa where doctors are taking a loss. well we don't do this, there are

doctors out there that are saying no to medicare patients. they're just saying, look, for the cy revenue service's the runaround. tracy: three a little sound issue preferred going to have to have you back because we have to keep talking about this. thank you for checking its time. ashley: it's a quarter till. time for stocks. the market has pretty much been held hostage. the i'm back and forth on that lines the not too encouraging. >> we continued as the a lot of volatility in the market. what does telling me and my colleagues is that the uncertainty of what is going on in washington is being clearly reflected in the markets. ( of going to happen. it did occur on the first. where another full day into this.

there are reasons to sell this market now. ashley: the volatility, now up 6%. what about the volume, is that still love? >> volume is low. answers and sometimes adds more volatility but less buying. with the fact we are not going to get an unemployment number on friday as of now, investors don't know antitrade disinformation. never seen this before. we don't know how the market will react. right now i think investors are trying to trade some of blind not being allowed to hang their hat on that all important number that we wait for every month. ashley: understandable. as always, thank you so much. >> you have a great day. ashley: new, souped. tracy: coming out, one ceo linking private funds with new investors. ashley: first, let's take a look at some of today's winners and losers on the nasdaq.

on the upside, sand is cab to and three-quarters percent. google staples up $0.34 which is good for two 1/5% rise. we'll be right back. ♪77 my customers can shop around-- see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my business, and definitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do.

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♪ ashley: had to funds, private equity, and other private funds can advertise freely starting next year, it plans to connect investors with a select group of private funds and at least partially take all of the guesswork out of a venture investment. joining us now, ceo and he joins me now. the company will be up and running early next year, you believe. >> that's right. ashley: what is it you're offering? >> we are offering a set of

private fund investments to a wider audience on line. so essentially if you are an investor who is not necessarily have access to the top private funds before, that the venture funds on private equity, or hedge, you have access to just a few of them that we think of the very best and we hope you understand why you might want to invest in alternatives and all but also why these funds could work for your portfolio. ashley: explain the impact of the jobs act especially on hedge funds in their ability to be able to advertise freely. >> absolutely. the jobs act is huge in concept. we are waiting to see how exactly is going to work in practice. the general solicitation i think is a really driveway to open up communication and transparency between a wider audience of investors who are hungry for alternatives and a great alternative investment managers who are open and willing to

share what they're doing with the wider audience but have not been able to before. really only time will tell what will actually happen. ashley: there are those that are not convinced it will open up the space of funds available. what do you think? >> that it will open up the spigot meaning most funds will be able to do is? ashley: will not attract the kind of interest that perhaps is predicted. >> i think time will tell. my personal opinion based on my have seen is that there are a lot of investors out there who are a bit sick and tired of the current options, traditional stocks and bonds or mutual funds and what not, there are great options out there, but a lot of people would like to get involved with alternatives because they know that the place where people tend to invest money to really know what they're doing are in alternatives. ashley: as a potential investor what do i do? it is very hard if you're looking in some sort of start up the unit want to invest income it is difficult to know which one of the risks involved.

>> absolutely. that is actually where we come and. you are not investing. you are investing in one of the funds. ashley: you are the middle person that helps take my money and invested in to what you believe is the best find to reach my goals? >> s. wright, but we let you choose which one. as a there are ten times on our platform. we have gone out and done the research and met with the manager. this is a fine that could be attractive to you if you fit into x, y, or is the category, we tell you that and if you fit into the category you will say, that is for me on that will not work for me right now, but maybe this other one. we give you the information and let you decide. we are calling a curated way, more of a catalog is opposed to an open platform or anyone can come along. ashley: you're offering a broad range of potential companies. >> it just offering fine system with and not during companies.

it is a range. we are starting only with venture-capital and private equity because we think that in order to really diversify it is some powerful here right now most consumers don't have access to private companies. so if you invest in venture capitol private equity you get access to private companies to go around the rest of your portfolio. over time we will incorporate hedge funds. ashley: opening to the public early next year. how has it gone so far in getting this together? >> so far it has been exciting. it's nice to be in a space like finance with a loss of changing because it is exciting to be able to get yourself out there, understand what is happening. we ever nephew, and letters to the sec, went down and met with the sec. they really want to make change for the better for the investment unity. it's fun to be a part of that. ashley: very good. thank you. ceo. good luck with the venture.

>> thank you for having me. ashley: thank you. tracy: you will like this story, the old dog ate my money story. guess what, the u.s. treasury actually bought it. honestly. a montana man who reassembled five chewed up $100 bills is now the proud owner of a $500 check from the u.s. treasury. after he sent the puzzle-like benjamin's back to the government with the explanation explaining what happened, the visiting his daughter in colorado when golden retriever decided to snack on the bills. he had to go to some extraordinary leisure's to retrieve the belated cash. i can't deliver a judge today. i could not deliver a judge today. ashley: should have taken you to the craps table. coming up on "tracy and ashley",

just guess what they are discussing. i think the video gives it away. a live report from the white house as well as the rest of the day's market action of straight ahead. don't go anywhere. ♪

thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day.

12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. >> good afternoon, everybody. i'm liz claman. it is the last hour of trading on day two of the government shut down. how appropriate that we are fast approaching palin and it is a scary prospect. but blackberry acting a bit like a cat with nine lives. private equity for servers might be interested in scooping up the smart phone maker.