minutes from now. dagen: there have been some technical problems. now, can the government fix these troubles? our money man wants to know if you would trust washington with your 401(k). china crying foul. all of that and so much more on this hour of "market now." ♪ connell: a new week. come on, starbucks. dagen: they love their coffee. connell: bottom of the hour, the president will speak. another busy week of earnings.

let's start at the new york stock exchange. nicole: good morning. thank you, sir. i appreciate it. let's talk about what we are seeing here on wall street. the dow jones industrials are down 28 points. we see the nasdaq is managing to squeeze out a game. johnson & johnson, walmart, boeing, procter and gamble are weighed on the dow. we are also keeping an eye on mcdonald's. they came out with quarterly numbers. the comp sales abroad were weaker. mcdonald's has a down arrow right now. back to you. connell: thank you very much. dagen: president obama expected to speak about 25 minutes from

now. connell: rejected is that the white house today. rich: the president should be speaking about a half hour right now. they will not say how many people have actually signed up and got them through and been successful with this. we are not sure what ramifications will become of this. now that the government shutdown is over, the issue of these online marketplaces are back at the forefront. >> the transparency or lack thereof is very concerning. 400 or 500,000 people have somehow gone on the website and

left some information. >> there is much that needs to be done to correct the situation. rich: there are some calling for people to be fired over this. the administration says there is a scheduling conflict. she needs to explain what has gone wrong here. dagen: thank you very much for that. we have the former director of the office of health insurance exchanges with us. good to see you. do you think that people will or should lose their jobs? >> i am not sure about that.

your station does a good job harboring on the bad news. somebody should probably be held accountable for that. the interest in these exchanges is higher than anybody expected. that is still the most important variable here. there is much good news with the state exchanges. the 16 states have proven that they can be well-designed and can work. i feel like a little bit like the drivers sitting in traffic, and road construction. will this be a ten minute delay or a two hour delay? i think the president should explain how long these delays will be. dagen: they had so long to get

this right. there were so many warnings. should they have just delayed the rollout of these exchanges? >> i do not think a delay would have been well advised. there are many states that are getting this right. they are anxious. i think the law needs to meet the timetable in the federal case. there probably should have been more transparency from the beginning. they really need to move this forward. a delay would have been not while received dagen: i believe it is federal

and state. they did not wake up how many was for the federal exchanges. do you worry, and i know that you do, that some of these people that try to sign up for insurance and cannot will not sign up again. >> there certainly is an issue there. the people who are a little more younger, healthier and do not need the coverage right away, they will be a little more impatient. i do not think anything has really been lost yet. they really want to shop and browse. people can do what they need to do today. they can get a sense of their options. most people do not want to move

straight to purchase. i do not expect when enrollment numbers come out they will be significant. i think that enrollment has misplaced focus. the focus should be on giving people the opportunity to get in and shop and browse. dagen: the follow-ups on these exchanges are so that people could not even do that initially. >> i agree. it was not a good situation. that is like being stuck in traffic and not knowing how long you will be stuck. ultimately, getting to your destination is what this is about. there is a window here. not a long window. if it does not get corrected,

there will tough decisions to make. the federal government has had a little bit of a problem here. dagen: how many people will just turn around and go home. [laughter] dagen: thank you very much. great conversation, as always. connell: we will see what the president has to say a little later in the hour. we have alan greenspan talking about the relationship between washington and wall street. >> it is the worst that i have ever seen it. i have been in and out of washington since the 1950s. the whole system is based on trust. you break trust down and the system implodes.

>> so we are playing with fire? >> i think that we are. connell: let's bring in david. >> i am nodding my head in agreement. he has summarized the whole thing. it is awful. to restore trust, it will take a lot of work. i do not think that they are even up to the task. both houses, both parties. connell: okay. we keep setting records in the stock market. if nobody trusts anybody else, what is going on there? >> we have other forces at work besides the house of representatives, united state senate and the white house. the federal reserve wallpaper very slowly, gradualism, we

organizing with new leadership and we will try to communicate that policy with more clarity. we have other institutions. there are positive institutional forces in america and they dominate wall street and the markets much better than our elected politicians. connell: i am glad that you brought those back to our favorite word, tapering. where are we on that? >> well, i hope that we get some clarity at the next meeting which is coming up in a couple of weeks. the september meeting was a pre-shock for the federal reserve. you know, when you have a

screenshot in the basketball game, you take it. they did not take it. now they have to correct the policy. connell: do you think that rates are going higher? 3% on a ten year note. that is when you know that stocks are in trouble. >> i do not think 3% on a ten year is trouble for the stock market. if the u.s. economy grows at two, 2.5%, 3% is fine. it is a higher inflation rate that creates trouble. we have very low short-term interest rates for several more years. that is my guess.

connell: thank you, sir. >> thank you. dagen: president obama says they are bringing in some top technology minds to fix the obamacare website. why now? the president speaks near the bottom of the hour. connell: china not happy. the government accusing starbucks of hiking prices. dagen: the new york stock exchange ready to put in some hours over the weekend to make sure that the twitter ipo goes better than facebook did at the nasdaq. double local when we made our commitment to the gulf, bp had two big goals:

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dagen: apple is gearing up to launch the new ipad tomorrow. connell: i have a big crack in my ipad. i should probably think about one. dagen: shares are higher today. nicole: no fun having a cracked ipad or iphone. taking a look at apple. today, looking at $11.85 a share. that is a gain of about 2.4%. tomorrow is the big day. the newest ipad will be released. a quick look at netflix which has been soaring. they have a lot of optimism ahead of their earnings.

of 260% plus this year. connell: take you, nicole. china feeling burned. they had a 20 minute broadcast. the chinese claim starbucks charge 50% more on some of its products in china comparing to selling them in the united states, the uk and india. varying costs add to the higher cost in china. charge them higher prices. take a look at starbucks today. 79.89. dagen: if you do not like it, do not go there. do not drink starbucks then. suck it up. 6 million young adults in this country are neither in school or

working. the opportunity nation's coal listen suggests missed opportunities will lead to a drag on the economy in years to come. vermont, minnesota and north dakota have the highest population of striving young adults. nevada, new mexico and mississippi came at the bottom. you know they are at home living with mom and pop driving them crazy. connell: health care on the minds of many people today. we will have the president coming out to speak about it. he says he will get these online exchanges fixed. he will be in the rose garden.

dagen: the new york stock exchange trying to avoid the problem that the nasdaq had with the facebook ipo. take a look at how the dollar is holding up against world currencies today. ♪ [ bagpipes and drums playing over ] [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity.

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♪ >> 23 minutes past the hour. the southern pacific coast of mexico will get another dose of very wet weather. the category three hurricane has authorities considering evacuating low-lying areas. commuters starting the week looking for ways to get to work. highways have been gridlocked. it was an emotional homecoming for peyton manning last night in indianapolis.

the colts beat the broncos 39- 39-33. those are your news headlines on the fox business network. dagen: thank you, lauren. connell: time to make some money with charles payne. charles: i did see that jet when. dagen: we can wait for the giants to join. charles: five below. it is retail that sells things from one dollar to five dollars. it has been public for just about a year.

the company is on a roll. here is your problem. traditional valuation metrics, the pe at 51. that is kind of high. twenty-one insider sales. it is still having room for a trade. it is not your normal retailer. dagen: it do you shop and dollar stores? [laughter] charles: when you need batteries and things like that when a storm is coming, but other than that, no. as big as that thing is --

connell: you look like a clown holding it. charles: i look important. [laughter] dagen: let's get out of here so we can get back in time. the president expected to speak any moment now addressing the problems with the website for the healthcare exchanges. of course, he will talk about all the good stuff happening with obamacare. connell: the decision by the new york stock exchange to work over the weekend. that is ahead. more of the markets coming up on "markets now." let's take a look at some of the winners on the s&p 500. ♪ ♪

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connell: working the weekend at the new york stock exchange. getting set for the twitter ipo. charlie gasparino had some tough questions about how much cuban really knew. how that went. no relief at all for chocolate lovers. dagen: we have nicole petallides

on the new york stock exchange. nicole: we are looking at caesars today. in the meantime, it may be good news for when as they are interested in the same license. they are actually hitting a new high of 173.54. in the meantime, there has been a briefing. we will see whether or not the proposal continues to move forward and actually gets to regulatory approval that it would need to do this.

connell: running a twitter ipo dry run. the question is, will all systems go if it comes after this weekend be enough to offer a flawless outcome? >> the president any second may speak from the rose garden. we have been waiting for this event on healthcare. working the weekend. >> there will be a huge flood of traffic and act vividly.

everything at the exchange needs to bring these quotes on other stocks that change in the united states will have to be coming in. with the facebook ipo and every day trading, they try to simulate everything that will be happening. these are not robots that you are hurting. this is like herding cats. it is pretty tough to do. connell: i can honestly say i have never tried doing that. [laughter] we are about to hear from the president talking about these

healthcare exchanges and all the glitches. this is your job. i know there is crazy volume and everything else. what are they not doing that they could? do not answer that. the president is coming out. >> thank you, everybody. thank you, janice. thank you everyone who is here. welcome to the white house. about three weeks ago, the federal government shut down. we have now gotten the government back open for the american people and today i want to talk about how we will get the marketplaces running out. as well. i am joined by folks that have either benefited already or who are helping their fellow citizens learn about what this

law means for them and how they can get covered. of course, you have probably heard that healthcare .gov has not worked as smoothly as it was supposed to work. the number of people who have visited the site has been overwhelming which has aggravated some of these problems. despite all of that, thousands of people are signing up and saving money as we speak. many americans with a pre-existing condition are discovering that they can finally get health insurance like everybody else. today, i want to speak to every american who is looking to get affordable health insurance. i want you to know what is available to you and why it may be a good deal for you.

for those who have had some problems with the website, i want to tell you what we are doing to make it work better and how you can sign up to get covered in other ways. before i do that, let me remind everybody that the affordable care act is not just a website. it is much more. for the vast majority of americans, 485% of americans who are ready have health insurance or your employer or medicare or medicaid, you do not need to sign up for coverage at all. what the affordable care act does for you is provide you with new benefits and protections that have been in place for some time. you may not know it, but you are already benefiting from these provisions in the law. young people like jasmine jennings, all of whom are here today, they have been able to

stay on their parents plans until they are 26 years old. millions of young people are currently benefiting from that part of the law. [applause] >> another part is providing seniors with deeper discounts on their prescription medicines. billions of dollars have been saved by seniors already. that is part of the law. it is already in place. it is happening right now. preventative care like mammograms and birth control are free through your employers. that is part of this law. [applause] >> there is a wide range of consumer protections and benefits that you already have if you have health insurance. you may not have noticed them, but you have them. they are not going anywhere. they are not dependent on a website. in states where governments and

legislators have wisely allowed it, it allows americans to get covered under medicaid for the first time. in oregon, for example, that help cut the number of uninsured people by 10% just in the last three weeks. think about that. 56,000 more americans who now have healthcare. [applause] >> that does not depend on a website. now, if you are one of the 15% of americans who do not have health insurance, either because you cannot afford it or because your employer does not offer it or because you are a small business person, you have to go out on the individual market and buy it on your own, october 1 was an important date.

that is when we opened the new marketplaces where people without health insurance or cannot afford health insurance or are not part of a group plan can finally start getting affordable coverage. the idea is simple. by enrolling in what we are calling these marketplaces, you become part of a big group plan. it is as if you are working for a big employer. a statewide group plan that spreads risk between sick people and healthy people, between young and old and then bargains on your behalf for the best deal on healthcare. what we have done is essentially creative competition where there was not competition before. now, insurers are really interested in getting your business. insurers have created new

healthcare plans with more choices to be made available through these marketplaces. as a result, prices have come down. when you add the new tax credits, the prices come down even further. one study shows that there are new options created by the affordable care act, nearly six in ten uninsured americans will find that they can get covered for less than $100 a month. think about that. [applause] >> through the marketplaces, you can get health insurance for what may be the equivalent of your cell phone bill or your cable bill. that is a good deal. the fact is, the product of the affordable care act for people

without health insurance is quality health insurance that is affordable. that product is working. it is really good. it turns out that there is a massive demand for it. so far healthcare.gov has been visited 20 million times. 20 million times. [applause] >> there is great demand at the state level as well. there are a bunch of states that are running their own marketplaces. we know that nearly one third of the people applying in connecticut and maryland, for example, are under dirty five years old. they understand they can get a good deal at low cost and this is not just for old folks like me. it is for everybody.

more than half a million consumers across the country have successfully submitted applications through federal and state marketplaces. even more people are looking to potentially take advantage of the high quality affordable insurance that is provided to the affordable care act. let me just recap here. the product is good. the health insurance that is being provided is good. it is high quality and it is affordable. people can save money. significant money. they can do this by getting insurance that is being provided through these marketplaces. we know that the demand is there. people are rushing to see what is available.

those who have already had a chance to enroll are thrilled thrilled with the results. everyday people who were stuck with sky high premiums because of pre-existing conditions are getting affordable insurance for the first time or finding that they are saving a lot of money. every day women are finally buying coverage that does not charge them higher premiums than men for the same care. [applause] connell: president obama today in the rose garden speaking about the rollout of his healthcare law. talking about the demand on the website, among other things. dagen: the gist of it is the affordable care act is not just the website. guess what, those exchanges are the gateway for millions of people, potentially to get health insurance that do not have it. connell: rich edson is with us.

rich: you talk about millions. we still do not have an answer from the white house of comedy people have enrolled. he only says that thousands are signing up. the only thing he discusses about this is the website has not worked as smoothly as it should have. he goes on to say that the law is already doing great things. not making all of that much no to the problems in the marketplaces. president still speaking. we have not heard all that much of what his administration is doing to try to correct this problem. dagen: with the administration, the president, be better served

if they would fess up to a greater extent of the problems plaguing the website? the "wall street journal" reporting last week that the information being sent was inaccurate. >> that is the problem. do you acknowledge the extent of the problems? everyone thinks it could be worse than it actually is. we are left to think that, perhaps, this is a real mess. we are not sure how much time, money and manpower it will take to actually fix that. connell: more to come on this throughout the day. rich edson at the white house.

dagen: how many of them were journalists just trying to get onto the website? getting back to the basics. markets leaving politics behind. we have the jobs report for last month out tomorrow morning. connell: happy to hear about tapering again. sandra smith has more in the trade today. sandra. sandra: we will start to hear a lot more about the tapering. the bats on futures have been pricing in. we will see the tapering happening much further out. if you look at oil prices today,

oil dipped below $100 a barrel. right now it is just above there. actually, it is reaching that level for the first time since july 3. if we do not see a fed that tapers well into next year, you are looking at a continued weak u.s. dollar. it raises uncertainty levels. this is a crucial time where everybody is starting to talk more about what the fed's next move will. dagen: thank you so much, sandra customers complaining about the new windows operating system. the company will place the

update with an apology. let's take a look at shares of microsoft. connell: i hear that healthcare.gov is having problems. mark cuban. did he know what he was doing? dagen: charlie gasparino talk with the bill and i are. he is joining us next. ♪ peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next.

connell: a big market discussion on friday about mark cuban. was he surprised when his actions prompted a civil suit

for insider trading? dagen: charlie gasparino had a long talk with cuban over the weekend. go, charlie. charlie: as you can imagine, he was a little perturbed. i thought, listen, i clearly stated that what he did was not illegal. i did not like the way he did it. he got a phone call from a company executive. something is discussed and they do blow your shares. it is a very prominent -- that is how we get involved in this company.

he got involved in a company that was run by people that turned out not to be as reputable as he thought they were. they were under investigation. they were facing multiple probes. when he got a phone call, this is where it gets tricky. nobody knows what was said during that phone call. he decided to sell the shares. allegedly, he heard, the person who called him told him there would be a secondary offer. he sold before that was announced. he never thought the timing was that imminent. that is where we are. listen, i have known mark for years. he said guy.

i offered him to go off the record. he did not care. he said he was going on the record. very critical of the sec. i think the crime is, and it is a good thing that it is somewhat sag legible. talking about a broken windows policy. he is very critical. he will probably mount a broader campaign about this whole

obsession. this guy had some very critical comments. i think he will keep going. that is his side of the story. he said if he got one more call from someone at oracle, he would not have sold his shares. i think it was kind of, in his view, when they called him that this is not a company he wanted to be involved in. that is his side. i still stick around this. dagen: get to work. >> i got stuck on a train. dagen: metro-north. loving it. connell: mr. gasparino. thank you.

dagen: cuban loves to talk. will obamacare be successful? michael leavitt coming up in the next hour of market now. connell: netflix of over 400 since last year. is it too late to get in? keep it here. ♪

sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >> you probably heard that healthcare.gov, the new website where people can apply for health insurance and browse and buy affordable plans in most states hasn't worked as smoothly as it was supposed to work. the number of people who visited the site has been overwhelming, which is aggravated some of these underlying problems. dennis: president obama addressing the botched launch of the affordable health care website. i'm dennis kneale with lori rothman take you through the next hour of "markets now."

president saying only thousands actually signed up on the website. when all said and done will obamacare be successful? former governor and health and human services secretary michael leavitt will join us to discuss. millenials, lost or just lazy? new study show 15% aren't in school and aren't working. what do you think? tweet us. netflix is set it surpass hbo subscriptions in 2014. we tell you whether you should buy, sell or hold the earnings. all of this next hour on markets now. dennis: hello, lori rothman. happy monday. lori: dennis kneale, thanks so much. republicans lost a budget battle but sent the message with obamacare, with the president first thing out defending the policy. dennis: did he make the sale? we'll hear from a former governor who says the states ought to step in and do more. top of the hour.

every 15 minutes, nicole petraeus on the floor of the new york stock exchange. nicole, stocks are timid. >> dennis and lori. dennis: timid is a good word. it is not even .1 of a 1% loss. nasdaq composite up 7 points at 3921. we are seeing a mixed bag what we're watching on wall street. some retailers, forks have up arrows. some banks and drugs are pulling back. we have a lot of story stocks and things on the move. we'll get into vf corp has north face and wrangler, less than a winner, hasbro also. names pulling back like mcdonald's weighing on the dow. we'll delve into some. stocks in particular. apple with a new ipad coming out this weekend. google at a record high. we're kicking off with a lot of news and jobs report as well. back to you. dennis: thank you, nicole. lori: president obama is saying the affordable care act is much more than a website to many americans as he addresses the problems of the program's rollout. even as the administration vows

to fix the problems is obamacare plagued from the start? let's bring in our roundtable this monday morning. charles payne on set. rich edson in d.c. and sandra smith in the pits of the cme. rich, your first. what were key in president's comments. >> thousands of people. 19 million unique visitors have gone to the website. we're still waiting to see from the administration what number they peg on how many people signed up, successfully gone through the website. they will need millions to make this work, millions of young, healthy people to pay insurance premiums and not use that many services. that is basis for thethis is soe to get on. even though the president selling all other things, all other benefits cost money. they need young people to pay ream h premiums for this. we don't know the number yet. lori: young people, sandra. what is the word on that? what is your word how well the president did defending

obamacare in the rollout thus far? >> well, unfortunately, the actual opening of the obamacare website has been the first time that the average american or consumer, if you will has been able to get in front of it and actually access it themselves. up until that point the pundits and commentaries have been able to pick and poke fun at obamacare, finally the consumer got to sit down and judge this for themselves. for one they couldn't log on. applications were sent to the wrong places. there were glitches all over the place. the feedback we've seen so far has not been good. so, lori, if one thing caught my ear from the president in his speech, he was saying demand is good. as rich said he didn't provide a numbers didn't see what is great. he said people are rushing to see what is available and didn't say people are rushing to sign up. has it been plagued since the begining? one might say so. lori: let's move on. no secret, d.c. has a spending problem but should they use it

to pack their pockets. "60 minutes,", one thing we saw campaign reform back in 1989, yet another loophole with the pacs. >> so many loopholes. there was a big deal about all the junkets they were going on. now political action committees. i watched part of that. you say, gollly, you know what? it is not something i think we should accept as the american public. you know, i don't think they should go there to enrich themselves or their buddies or practice any sort of, you know, obviously, it is looting the treasury, but it is an interesting thing that, maybe that "60 minutes" put light on it but i doubt, these guys will give that up without a serious uprising in this country. lori: even when you put the pieces together, right, dennis, john edwards, running for president, found out he paid his mistress $114,000 to put together a campaign video. that absurd. dennis: this is leadership pacs

which are campaign contributions are regulated but leadership pacs even though not leaders in congress are unregulated. they can take all kinds of money and do it anything you want. ordinarily as free market guy, any way they want to enhance their income, let them, but given how much we believe congress is failing, how bad a job they do, they don't deserve any extra pay at all that. is problem why this leadership r leadership pac. >> draw the line between free markets and idea that washington they should be down there doing a different job. lori: that is absolutely imperative point thaw both raise but the fact is, total dysfunction. it is one budget battle after another. i don't have to tell you guys. we've been up to the eyeballs in the latest round of negotiations and because these pacs are subsidy more for a life-style and a campaign and a platform it makes you wonder, right, sandra, something has to be changed here? >> yeah. no, i think at the end of the day everybody is asking themselves, what is going to come up with all this going

forward? today was a little bit of a glimpse into that. i think uncertainty level is raised right now. i think for individuals, i think for employees, for employers in this country. i think we're still left with a lot of question marks at end of the day. lori: rich, any buzz where you are there? obviously you are in d.c., morning after this report? >> well, you know, congress is out today. the reason they're outlikely to fund raise back in their district. there is not all that. of a buzz. congress coming in to work a little bit. when you look, especially house guys, lawmakers in the house, representatives are up for re-election every two years. only in session half the year. a lot of that time is devoted to fund-raising. there is so much more money, especially, post-citizens united coming into the political system, just to stay in the game, you have to keep raising money. it has become such a large portion of washington, has been for some time but recently especially. lori: does this -- come in here. >> to his point, the more money you have to raise the more beholden you are to people outside. even if you took someone with

greatest of intentions, if they stay in d.c. too long and have greater ambitions, to rich's point they have to raise more money and more money. you owe that person a favor and this person a favor. at some point you lose your soul. you lose your religion. we've evenly see a very few amount of people go through the system and that not happen. people -- lori: campaign finance reform again. >> people talk about term limits. if someone is not spending 30 years, how do you go into congress, at a young age come out a millionaire? so the bottom line is, i think that we should probably have more citizen lawmakers, people go down there for one or two terms. lori: that is another great point. you guys are chockful of them. why can't we get people better suited? maybe i'm makeing a gross generalization. >> when they get down there it is all-absorbing. it is amazing. lori: sandra, weigh in. >> people don't want the job. they see how difficult it is.

they're highly criticized for their jobs on a daily basis. the game changes on a daily basis. unfortunately that keeps some of the best and brightest for wanting to be in the seat in first place. lori: in new york we came off eliot spitzer and anthony weiner respective campaigns. that was humiliating as a new yorker. would be more humiliating if they won. at least we can give ourselves a pat on the back. arrogance to think they could be reelected says how much little they think of the american public. lori: well-said. one more topic to run around with you all. congress may be padding its pockets but seems millenials are simply doing nothing. new report about it opportunity nation coalition revealing 15% of folks, kid, really 16 to 24 not in school or working. is the environment too difficult or are they just lazy? sandra, how do you feel if you and your young family move back in with mom and dad? rather, how would mom and dad feel about that.

>> unfortunately a lot of people are raining on the millennial parade saying that they're entitled and they have a sense of entitlement and they're not working hard enough but i think that is the easy approach just to pick on them. i think we need to prop them up. something needs to be done because this is very cyclical thing. if they continue to not make as much money as previous generation, they continue to sit at home, not work, their skill levels decrease, earning power goes down, then looking forward they will create an community and environment where the next generation is not going to thrive. so something needs to be done. i don't think anybody has a quick and easy answer yet. lori: what do you think? is it the economy? dennis: i think the economy too much is being done, okay? too much is handed to them. a lot of 20-somethings feel self-entitled and waiting for everyone to give to them instead of doing for themselves. a study came out in the journal on extended unemployment benefit and extend unemployment to 99 weeks. factors show in counties right

next to each other, one with extended benefits versus one that didn't have that but in the same economic system, unemployment is far higher in the place where you extend it. i think a lot of 20-somethings have been taken out of the workforce by this kind of largess and stopping them from being hungry and finding new opportunities. lori: too much free stuff, charles? sandra, you want to come in? i hear you. >> i think your point is well-taken. when i say something sneads to be done i'm not insinuating government needs to step in which is what the government thinks they need to do. i'm saying we need more business-friendly environment in this country where college tuition costs are down, when they get out of school people want to hire them. dennis: obamacare is disincentive. obamacare lets a kid stay on mom and dad's insurance until 26. maybe if they had to get off by 22 maybe -- lori: what about overblown college loans? easy to get money and strapped with debts. dennis: strapped with the debts

and you took them on, it is your responsibility. i think they're screwing up the college loan market the government does, like so many things they get into. lori: somebody should study in course because that course will be a bridge to profitable job as opposed to doing something that -- >> government should fund loans to go to engineers, when we are short 200,000 engineers. we need and make only0,000. instead of giveing a loan to somebody who wants to study french poetry. lori: we'll leave it there. charles payne, rich edson, sandra smith. thanks again. dennis: jpmorgan reach as tentative $13 billion settlement with the justice department and that is only the beginning. wait until you hear how much the legal fees will cost. we have the numbers in a fox business exclusive coming up. lori: netflix shares are up 400% from last year. seems like last year this was a dead money stock right, with the prescription increase? should you buy, sell or hold

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dennis: time for stocks now. let's go to the floor of the new york stock exchange and nicole petallides. nicole. , you're watching two big tech names. >> technology is never perfect but let's talk about facebook and microsoft today. if you were hoping to come on and post your kids pumpkin picking on facebook this morning it wasn't so easy. they fixed the problem. they issued a statement from facebook saying earlier this morning performing network maintenance we had an issue with

users posting to facebook for a short period of time. they are sorry for the inconvenience. they solved the issue. that is one technical inconvenience. the other story is microsoft is pulling windows update. they removed the ht-1 update from the windows stores because it caused some customer devices to crash. they're working on that to try to resolve that situation as quickly as well. back to you. dennis: thank you, nicole. lori: so facebook may have been down for a little while this morning but an entire city was closed in china. severe smog crippling a northern chinese city leading to closure of schools, highways and cancellation of heights. pollution levels soared to 40 times what the world health organization deems safe. they are expected to last up to another 24 hours. harbin near the russian border is home to 11 million people. dennis: can the states do it better than the feds? former utah governor and health and human services former

secretary mike leavitt says the answer is yes when it comes to reducing health care costs and he joins us next. lori: tough week for the dollar. why fiscal monetary policy working against the greenback, as we head off to break. dollar and how it is faring against major trading partners. back in a moment. [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not your investment strategy. if you believe in the sheer brilliance of a simple explanation.

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>> welcome back to fox business. 21 minutes past the hour i'm lauren green with your fox minute. it has been another miserable commute in the san francisco bay area with the strike by the b.a.r.t. union now in its fourth day. long lines of vehicles at san francisco-oakland bay bridge to plaza. they are expected to hold a meeting later today. mexican coast bracing for more severe weather. hurricane raymond is category 3 storm packing winds up to 120 miles an hour. the region is still realing from record flooding because of two tropical storm last months. the president a short time ago giving a speech on the breakdowns for the website of

the health care. a woman fainted behind the president. he said he obviously talked too long. woman was helped to her feet and escorted from the podium. that is the fox news minute. dennis: thanks very very much. was the response from the president too little too late. former utah governor and former health and human services secretary michael leavitt. thanks for being with us, governor. did you happen to catch the president's speech this morning and do you think he made the sale? >> i actually saw only part of it, in order to get here to be in time for you. i missed the last part, what i did see, frankly i think the president's done the only thing the president can do at this point. that is to acknowledge this is not going well. they are going to fix it. i think that was the right thing to do. it will be good for a few days, as long as it gets fixed. if there is doesn't, problems will continue. i think he did the right thing by addressing it correctly.

dennis: i'm reading 476,000 americans have applied for new health care coverage since they opened up those exchanges and that thousands have signed up but we need 7 million in the first six months. so we're already running way behind. do you think that the problem could get even worse as more people flood into the sign-up. >> if they don't get the system fixed, the problems are going to get worse. if they do, then obviously they will get some relief. in order to make this system of health care, not just the exchange, not just the technology, to make the economics work, they have to enroll a lot of healthy people. and, without them, the people who are most motivated are those that are not as healthy. and the consequences, as you end up with a pool of people, who are not healthy and hence, everybody pays more. so that is the threat to, to the president's program. >> yes, now the states have far more control over med caved and thousand they spend that money and government money that comes in from that over medicare which

is far more federal control. with the new obamacare measures coming in, are they kind of prostate control or are they kind of more restrictive the way medicare is? >> well, you make a very important point. it is that states have more capacity to affect health care than you might think and when they exercise it they do it more effectively. when we see the first couple of months of the exchanges where there are some state-run exchanges and the federal exchange we're going to find out that the states were able to execute on this problem far nor effect tiffly than the federal bought. that is also true for health care costs. states have a lot of capacity to do good things in their health care system if they will but seize it and frayingly if the federal government will allow them to. dennis: yet, i think, isn't it something like 36 states have refused to open up health care exchanges of their own? the federal government, you device do it. should the states made a

mistake. should they open up their exchanges to yield more controlled? >> they have time and i predict i will see more states that will elect to have their own exchange. i think they will work better and people will be happier with them in time. dennis: happier with them in time. overall do you think there is enough emphasis in the new health care regulations keeping costs down? i remember if you look back in history, every time we tried to expand coverage to another group we forecast it would cost this much and came in six times as much as that? >> this will be no exception. we're going to find out as more and more people begin to, more and more employers decide that they will opt out of the employer system it will put more and more people on to the roles of those getting a subsidy. i predict that the affordable care act will be substantially more expensive than it was predicted to be. dennis: yeah, i think you will be right about that. anytime you expand coverage and usage, costs go up and not done. kind of antithetical.

thanks for being with us today, we appreciate it, governor michael leavitt. >> thank you. lori: a big stock to watch today of course is netflix, on pace to top hbo? subscribers. with the stock continuing to store is the right stock for your portfolio? acres cocoa shortage could lift the price of your favorite candy right before the holiday season. we'll look at some of today's winners over on the s&p. note ♪ -- ♪ it's a growing trend in business: do more with less with ss energy.hp is help.

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cheryl: jpmorgan reaches a tentative deal with the justice department. weight until you hear how much legal fees well cost shareholder jbm. we have some frightening news ahead of halloween. shelling out more cash for chocolate. stocks now every 15 minutes. nicole: let's take them one by one. they are the maker of north face and wrangler. they are both very popular

brands. you are seeing the stock moved to a new high. the mcdonald's story is they did have improved sales here in the united states. the sales were weaker. hasbro, a similar story, they had strength outside of the u.s. a little push and pull on where people are buying. they are looking forward to spiderman. the dow jones is down. the s&p fractionally lower. the nasdaq is looking nice today. back to you. cheryl: the calm before the

storm. dennis: netflix is soaring. a subscription video service surpassed hbo in subscriber numbers. adding a new record high today. we will take a look at max netflix ipo. you had a $275 price target. it is at almost 350 now. you are a me or hold. >> i have recommended this stock for quite a while. yes, you are right, our target price is $275.

by no means are we negative on this stock at this point. you have to wonder, and a lot of investors that i speak to are a little more concerned. more investors are looking at this stock as a broadband video growth. you could argue that international markets are barely crashing the surface right now. original programming is becoming more and more important. then you talk about, you know, marketing. i think they have been very

creative in this discovery. i think you can see hours continuing to grow from this level. the question is, how long can they continue to monetize that? dennis: hbo earned $1.4 billion in profit in a year. the most recent was $17 million. how do these guys go about making more money? >> that is a great question. i think there is a lot -- i think this company is still in investment mode internationally. you have a dvd business that is eroding very fast.

i think they have to make the transition successfully, domestically from dvd to streaming. the jury is still up in the air on how long it will take them to do that. dennis: they have navigated far better than most. they deserve a lot of credit for that. there is one wrinkle to the program. they spent a lot more. does it worry you at all. >> some of that has to do with accounting estimates.

overall, $3 billion per year in content licensing. i think the business model has to be able to sustain revenue growth above that level. the other catalyst i should mention, if they are able to strike a deal, that could be a potential game changer. dennis: how much you think cable will want to keep? i am thinking they will want at least half. >> i think that is probably a fair observation. all kinds of wrinkles that could derail this kind of deal. if they can pull it off, i think issues about revenue split, etc., i think we will find a way to figure it out. it is very unlikely you will see

it anytime soon. dennis: thank you for being with us today. netflix earnings will be out after the bell. cheryl: the dollar continues to hover near and eight months while. it's all some serious weakness last week. tips on how to position your portfolio. the next budget deal not so far off in the future. dennis: jpmorgan reaching a deal with the justice department. take a look at how much legal fees on top of that will cost shareholders. the bills just keep stacking up. ♪ when does your work end?

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complaints. gasoline prices at the pump are falling. the average price for a gallon of regular gas has dropped two cents. shares of previously owned homes have dropped. the national association of realtors said 5.29 million homes sold last month. that is down from august. that is the latest from the fox business network. giving you the power to prosper. ♪

cheryl: the u.s. dollar is hovering near and eight month low. you have the fat, you have the budget battle. is it time to close the books? what do you think?

where are the best opportunities these days? >> with the dow and the s&p 500 reaching record highs, people are asking me where the players are in the stock market. i think of emerging markets and especially china. if you look at the china spider etf, it is up 20 odd percent said june. about every ten years, we see china dipped when they have a management change in their government. right now they are implementing their new plans which they take very seriously. they are planning on moving people.

cheryl: that is a tremendous economy. my goodness. i think this is an interesting story. a merging market is based on profitability. when we were expecting the taper to come in, everyone was pulling money out of emerging markets. now you are more bullish on emerging markets. it looks like the federal reserve will stay of course. >> that is exactly right. you are also seeing fundamental changes. places like mexico are growing four or five times a year. exports are up in china. product to that he is up.

you know, we are seeing china going up. also, they are spending more because of these new economic plans on commodities. that will drive commodity rich latin american countries. cheryl: we are seeing the oil barrel come back below $100. gas prices are a little cheaper. the federal reserve likely to stay on hold longer than anticipated. what is your anticipation for the u.s.? most people are very bullish. >> if you look at north america as a total economic zone between canada and mexico and the united states, we are all going to be huge oil producers and oil exporters. i believe long-term prices on

oil will come down because we will be kind of the saudia arabia for the next couple of decades in terms of oil and gas exports. that is bringing manufacturing back to the united states. below in manufacturing is coming back from china into mexico. that was the growth in agricultural exports because of the middle-class boom in china and all throughout asia, the long-term trends look really good here in the united states. cheryl: always appreciate optimism. thank you. we will check in with you soon. dennis: it is time for stocks now. let's get to the floor of the new york stock exchange. >> even though they are reporting earnings and revenue gains, the real reason it is a big loser is because halliburton

reported -- it is probably a good time to take some money off the table. dennis: a flood of delayed data, is wall street going to say it is old. i really should not care about it. >> certainly, the jobs number is old. that has been telegraphed so much. we do not expect too many deviations. plus, we get a fresh number two weeks in. we will probably just shrug that one off and concentrate on earnings. dennis: all right. thank you very much. >> my pleasure. cheryl: a cocoa shortage. meanwhile, oil falling below

$100 under a barrel. >> we have seen the price of cocoa co-op over 26% just in the last month. we have a deficit. they basically came out and said we will be short by 70,000 tons. this is the second time in a year that we have had a shortage. this market has been on fire. we are seeing chocolate though through the roof right now. we closed that about $2700 per ton right now. some people say we are going well above 30. let's take a look at the good news. we will make it back in gasoline and oil. we are down $1.11. the first time since july. remember what catapulted us

above was egypt. geopolitical risk. we have taken it all out of the market. if you are taking the geopolitical risk now, what do you have to focus on? supply. almost 4 million barrels. twice as much what they were looking for. very bullish. back to you. cheryl: thank you. >> thank you. dennis: jpmorgan chase and jamie dimon ready to pay to settle civil charges. you will not believe how much the banks and shareholders are having to spend on legal fees with all of this. we have elizabeth macdonald here now. >> they have steadily risen since the start of 2008.

for the six major banks that are operating in this country, look at this number. $137. getting back to what is happening. they have sued 17 banks in 2011. those lawsuits are still out there. what we are hearing is happening at jpmorgan chase is that the bank did draft an agreement, the bank does not want to admit to any guilt. 80% of jpmorgan's losses are attributed to bear stearns.

whether or not there is a criminal prosecution of anybody at the bank, that would certainly cause the legal costs to rise even further. an admission of guilt would wind the door open to the plaintiff bar. we will be tracking this story throughout the day. dennis: thank you very much. sean colmes, he will be launching a new network. that will be in my media minute. cheryl: take a look at some of the winners on the nasdaq as we send you off to break. ♪ [ female announcer ] who are we? we are the thinkers. the job jugglers. the up all-nighters. and the ones who turn ideas into action.

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dennis: in today's media minute, sean colmes wants a new marker. cable mogul. he says wrobel will be that espn of music tv. it would not exist at all -- the internet journalism. investing big sums to save it. ebay founder reportedly is ready to commit up to a quarter billion dollars.

steve jobs widow has invested in a new start up. facebook is billionaire buying the new republic. also, superstar tech columnist of the "new york times" quitting the times to go over to yahoo!. cheryl: how about this one? talking about china and the booming economy. talking about higher prices for starbucks. the chinese claim that starbucks charges as much as 50% more on its products in china. the company responded saying varying costs add to the higher cost in the country.

take a look at how shares of starbucks are performing this morning. supply and demand. basic economics. brandon james on what he thinks. cheryl: have an old blackberry you do not need anymore? do not throw it away. transforming the old devices into works of art. ♪

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>> i'm dennis kneale. lori: i'm lori rothman. damage control. the president says there is quote, no excuse for the website issues plaguing the obamacare rollout but offering few details what is exactly wrong and what is being done to fix it. >> $13 billion. that is how much jpmorgan may have to fork over to settle u.s. investigations over its mortgage bond sales. charlie gasparino will be here with why jamie dimon has become

enemy number one for the obama administration. also, genie in a bottle, beer bottle that is. brewer mike brenner getting his wish after the 16-day government shutdown paralyzed his business. he is back to tell us how things are going on. lori: the lights are on but nobody is home. blackberry chandelier. check that out! how creative or creepy? this hour we'll introduce you to the designer of this blackberry chandelier. >> time for stocks now as we do every 15 minutes. let's go to the floor of the new york stock exchange and our own nicole petallides. stocks are coming back to even. >> really interesting as we see the market to the designside. we got a note from ubs floor trader art cashin calling it a monday meander. the dow is sitting at 16,400. s&p 500 as well -- 15,400. tech-heavy nasdaq is best of the three up one-third of