[closing bell ringing]. no dow 17,000 today, folks. david: no 17,000. we got kind of a mixed decision. nasdaq which was in the red still in the red. looks like it might pull out of it as things settle. we do have a split decision. just barely down on the nasdaq. that is at 1 phone 27. might even float to the float to the upside. the dow jones industrial posting a win nd the s&p as well. "after the bell" -- the ball and the bell, starts right now david: following the bouncing ball as we follow the bell. i would figure i bring them all together. the dow is up solidly up 20 points. let's get to today's market action.

we have brian sossi. he is cautioning investors that this earning season may be a disappointment. we'll find out why when we talk to him in a moment. larry rosenthal, rosenthal wealth management president will tell us how much higher he thinks the market will climb. todd horowitz joining us from cme. todd, the naysayer, always so yet the market keeps climbing. you say look at utilities and discretionary stocks for an indication of the bad news to come. how so? >> hi, david, hi, cheryl. you know what? when money is flowing out of higher risk stocks into utilities, utilities are considered safe havens, right? dividend-paying stocks more like putting money in the bank, coming out of discretionary, higher phase retailers, a lot of stuff we don't have money to spend because we're paying too much for gas and too much for food. the money is flowing into a lot of safer asset classes. saying to me, the top may not be

here today but somewhere around the corner. i don't know when it will be. certainly i'm on the sidelines neutral here. i think and i believe we're going to go much lower soon but again i'm not going to fight the tape. we do up every day. nobody cares. the fed is in charge. that is the way it goes. cheryl: there you go, larry. we heard again from yell yell this morning -- janet yellen this morning. you see weaknesses in the economy and gdp and she is confident in what the fed is doing and markets continue to hit higher and higher numbers all the time. are we fooling ourselves here? are we settings ourselves up for a fall? >> thanks, cheryl, for having me again and hello, david, as well. i don't think so. there is old adage on wall street, don't fight the fed. as long as the fed has very accommodating monetary policy the market is the only game in town. if you look at what we need to start really paying attention to is earnings. by july 21st, we will have 170 companies to report. that will give us good

indication. earnings for the last quarter were forecast lower about they have been meeting expectations for most part. we're in a slow growth economy and keep track buying equities as market climbs higher because really that is only game in town. david: brian, you've got great ears on the ground and you're hearing things about the earnings season coming up. what are you hearing? >> you have to continue to ride the market because it continues to shrug off batched news, data miss, earning misses. david: are we going to hear bad news in the earnings season. >> you will hear bad news. general mills saying hey, their restructuring program is not enough to offset inflation. weaker sales in like of target and walmart that. absolutely disturbs. i'm worried about package good companies and consumer goods that throw up on the board with margins. cheryl: we want to stay with you. we're coming up with at least world cup fever in the u.s. and there are any names that will get a full-blown pop.

>> nike, cheryl, world cup. i had a quick chat with nike, what they're seeing in terms of social engagement is crucial. i don't think reflected in the stock. world cup fever will hit nike next two quarters and i don't think market realizes it. david: larry, i have to ask you about biotech, todd pointed out people are going away from high beta and risky stocks. you say time to get into biotech. why? >> biotech is taking a little bit of a breather the first part of this year. when you look at demographic play not only in america but around the world, we have 10,000 people a day turning 65. that will continue to happen next 16 years here in the country. when you look at genomics and biotechnology and advancements of health care i just see a lot of money from the government level as well as industry moving in this area. so we think long term, biotech's a nice play to be in this space. cheryl: todd, down at cme, is

there anything we're not discussing here that is kind of a fear on the floor right now, something that we're not aware of we need to kind of watch? >> i don't think there is any real fear. i think what you're really see something lack of interest, a real lack of participation. traders, you can see behind me. there is not a lot of action in the pits. pits are very quiet. volume is extremely low. volatility is in the tank. we're approaching 2004 volatility again which means there is no interest. right now nobody cares. everybody knows the market can only go up. they know janet yellen is there to take care of them. they have the yellen put and bernanke put. we're so complacent everybody knows that the market will go up. why bother, why do i have to sell? what will happen eventually here we'll see a change and a shift. the market is not going to announce itself say it is time to go down now. at some point this low growth, lousy job environment, even if numbers is good, look where jobbings are coming from, the service industry. those are not high paying jobs.

we're making less money than 10 years ago but paying twice as much for fuel and twices as much for energy. it has to work out. david: brian, it is true this market is climbing wall after wall of worry. however, as prices go up at supper market, people, plain ol' households have less money to go out and purchase things on a retail level. has the market priced that concern into current value? >> absolutely not. i go back to what i said earlier. david: hold on a second. you speak so fast. you said absolutely not, correct. >> absolutely not. market earnings season to the top point, july 21st, companies will come out beat very strongly. dupont didn't tell us that. general mills didn't tell us at that going back further, look what owens-corning did. they are roofing maker. their business is absolutely slowed. they got hammered. david: hold on a second, you recommend nike and best buy, starbucks, three stocks that depend on people digging into their pockets and finding extra

cash which as we just mentioned, they don't necessarily have? >> almost got me there, dave. here is what i got. two specific catalysts. one i think starbucks is upgrade coming into next earnings report. higher food attachment rates and move into cold pressed juices. best buy yesterday, they have 300 sony and samsung shops in their stores and driving higher profits. stock is up 19% in the past month. cheryl: larry i'm curious i ask what you think of what he said with bullishness in the consumer. >> we like to go where the money flows and see demand and we're seeing demand consistently in technology, biotech and emerging market areas. we call the river of flow of money in these different areas. when you take a look at consumer discretionary stocks, they will go up and down. when you see higher prices at pump and higher prices at a grocery store, that is really deflationary effect in consumer discretionary spending.

that is win reason we like technology and biotech areas. that is really changing the way you and i and business-to-business receive and send information. david: okay. >> you know, throughout the economy. david: hold on a second. hold on a second. everybody has got rose-colored glasses on. >> no, no. david: except todd. except todd. todd before we get caught up with this optimism what about most americans believe we are still in a recession right now! most, by the way, 74% of americans thought we were in recession back in january when all so-called experts were saying we were growing? guess what? the american people were caught. we were in contraction in the first quarter, a 3% contraction. so who has it right, the experts that say we're growing and everything is rosy, or the american people? >> well, i think the american people have it right, but there's a difference of the american people is one group, wall street is another group, and guys having money putting it in, central banks around the world and fed, big money,

they're buying market. they don't care what is happening with the average american. the average american is right and knows. they can't spend money because they don't have it to spend. you have to go to the grocery store. you have to go to bank to borrow money to buy a piece of meat. it is very tough out there. cheryl: brian, last word to you, is there a retail name you don't like right now? you. >> don't want to be in specialty names, aeropostale and abercrombie & fitch. who has it right? dow transports. that index lagged. s&p 100 i would be concerned. david: brian, larry, thank you very much, gentlemen. todd we'll come back to you when the s&p futures close. cheryl: i'm not wearing my rose-colored glasses this 4th of july. david: todd is definitely not wearing rose-colored glasses. >> i'm wearing black today. david: thank you, gentlemen. >> that is going dark. jcpenney's stock is up more than 3% today, continuing a big comeback that surprised many retailer's critics. does the rally still have legs?

we'll talk to adjacent jays watcher who right here on this show exactly predicted the stock's big run-up. he is coming up. david: 30%. he got it, nailed it! what does he say about the future. this guy, you know him, billionaire carl icahn. a colossus in the world of activist investors. fear not you too could win by following similar investing strategies. we have a fund manager who uses the same tactics that icahn and other activists do. he puts together fund of 30 or 40 activist stocks. he tells you what they are. cheryl: tomorrow's big jobs report less than 24 hours away, we want to know your predictions. will it beat or miss the 212,000 new jobs estimate for june. tweet us @fbnatb. your answers coming up later in the show. ♪ [ male announcer ] once, there was a man

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cheryl: shares of motorcycle maker harley-davidson falling today following an analyst downgrade. david: let's head back to nicole petallides on the floor of the nyse. don't diss my motorcycle stock. >> you have to love hog, harley-davidson, an american icon of a company. today the stock was down 3.6%. 67.80 where it closed.

downgrade from raymond james. concerns about slower sales, lower than expectations. dealers have too much inventory building up. that is why they downgraded from outperform to market perform over at raymond james. the other thing worth noting that harley-davidson is trying to work away from getting and relying on aging baby boomer male, and trying to move on and get more after younger consumer in with women and minorities and expand what they offer. a lot of their touring bikes are too large or too heavy to handle. get smaller bikes known as 750, the 500. they're smaller and easier to handle to try to appeal to a broader audience. don't forget the electric bike, that is something else they're working on. for today, the stock is down 3%. if you look at long chart back in 2009, this is lower than 10 bucks. shareholders have to be happy. it was climbing higher. david: thank you, nicole.

i don't like aging baby boomer. i never like that, i'm a baby boomer but i'm getting younger. s&p futures are closing. let's go back to todd horowitz a man who is forever young in the pits of the cme, todd? >> we'll close right near the highs. everyone is focusing on the jobs number tomorrow. i don't think that number is important. we have to watch interest rate market. we have a nice bump up in rates today. if that continues that could affect markets. have a great 4th of july. i will bring my rose-colored glasses next week. david: thanks, man. good to see you, todd horowitz. cheryl: jcpenney is on the rebound. shares are up more than 3% today, about 30% since the retailer's april low. who knew. david: now we have someone who did know. he made the bullish call in march. how did he get it exactly right? is jcpenney's rally just beginning? he said so. we have j.c. paretz, eagle bay

capital. told you your favorite stock symbol. j.c. paretz. jcpenney. is that why you love the stock? you have the same initials. >> reality one day i hope that no longer exists so i steal ticker symbol for myself. david: let me get serious for a second on that point. stuff is happening with the company itself. for example they pushed back on this lawsuit that martha stewart had filed against it. some people say that is why the stock -- you say forget, that is just noise. forget all that stuff, that is just noise. look at chart. does that noise amount to anything? >> it may or may not. i'm not a journalist or analyst. i don't have time to worry about that stuff. we put money to work. we focus on supply and demand components. four months tomorrow i was on the show and we expect ad 30% rally. the biggest reason was because of short interest, remember? half the float was short. at the time the short ratio was about four days. if you take amount of shares short and average daily volume

for all the shorts to cover it would have taken four days. so it is interesting this new phenomenon that we're watching is that although the short interest is actually diminished to just 80 million shares the amount of volume on daily basis has shrunk to a third of what it was. short interest diminished but the short ratio is up to seven and we're more bullish with seven months to go. cheryl: year-over-year it is still down 45%. year-over-year. granted we had this recent rally. what do you say now going forward? >> because the short ratio is almost twice as it was last time i was here as the great philosopher yogi berra once said, it is like deja vu all over again. i think we go up another 30% from here. exact same reasons, the short interest. david: jc, the street ratings team, i don't say that they get everything right all the time but they say about jcpenney, the following, it is a sell, a hard sell. the company's weakness, i'm quoting them here can be seen in

multiple areas, generally high debt management risk, disappointing return on equity, poor profit margins, generally disappointing historical performance in the stock itself and deteriorating net income. when you look at that slew of factors against it, how do you stand up? >> david, four months ago liz told me exact same thing, my answer is same it is today. that is not a secret. if we're here talking about all these things it is not anything new. it is already priced into the stock. there is reason why there are so many shorts in this name. i would like to take the other side of that especially if that is the consensus sort of agreement. cheryl: talk about the business. i mean this is a bricks and mortar business and criticism of jcpenney, the stores were getting old, the product selection was getting old. forget the martha stewart debacle. you have macy's still winning in that category training i le. how do you speak to the consumer out there that doesn't believe in the jcpenney story? >> i am not a story teller. >> i'm trying to make awe storyteller. >> i don't have time to be telling stories. i can't worry about that stuff.

i worry where the buyers and sellers are. there is solid risk/reward f we break down below the 9-dollar level, all bets are off temporarily. 30% rally towards 12 1/2, former support, great risk and reward. i told liz last time we know fixed level of risk and have a target that is all -- david: jc, when you are wrong, it happens to everybody, don't tell me you're never wrong, when you are wrong is it because you're focusing too much on the charts and missing something fundamental going on. >> david, i'm wrong all the time. i'm proud of that because it doesn't matter if you're wrong as long as you're disciplined and defining your risk. that is the most important thing. there is no egos here. it is not about being right. it is about making money. david: is there ever a case fundamental thing about stock, ceo gets sick or something like that is that the reason why you're wrong when you're wrong? >> reason doesn't matter, if it breaks below a certain level, you are disciplined and get out. the reason is completely

irrelevant. cheryl: you're most unflap ab. david: you're great and he is reasonable. j.c. paretz, he was absolutely right the first time. let's see if it goes up another 30%. j.c. paretz who has same symbols for stock name for jcpenney. cheryl: coincidence, i think not. david: if you want to invest like activist investors like carl icahn or bill ackman you definitely want to stick around for our next guest. his fund uses those very same strategy that billionaires use. it is handily beating s&p 500. great average. cheryl: another day, another car recall, but it is not gm this time. one of asia's biggest auto makers is trying to drive into the fast line. we'll have details when we come back. ♪

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david: time for a quick speed read of some of the day's other headlines, five stories, one minute. first up american energy giant exxonmobil investing more than a billion dollars in a belgium refinery to meet diesel demand. the company is considering several other invests in the region as well. automaker hyundai is recalling 58,000 elantra touring vehicles across north america due to defect connected to the deployment of side curtain airbags. the recall involving cars from the model years 2010 to 122012. regulators look into huge facebook psychology experiments whether the social media company violated protection laws. a new study found electronic device usage during flights has not increases despite a new rule that allows devised to stay powered on.

increase of use was less than a percent. first woman to become a four-star admiral. howard served in the navy 32 years. congratulations, admiral. cheryl: love that. david: that is today's "speed read." cheryl? cheryl: fed chair janet yellen, first female fed chair hinted she is reluctant to raise interest rates to fight financial risk. her comments coming at an event at the international mon fairy fund. david: has the option been ruled out and how will the fed deal with risks on the horizon? rich edson is in washington. rich, they are running out of ammunition, aren't they. >> they are, david. fed chair janet yellen says regulation and enforcement and capital standards should be the promarry standards against systemic threats. they should set monetary policy considering price stability, considering those measures separate from keeping financial system stable. there are pockets of risk-taking across the financial system specifically in corporate and

junk bonds where she says investors may underappreciate the risks involved. though she says chichis so systemic threat in left reininged lending. yellen focused much of her remarks on defense of low interest rates claiming the fed's monetary policy is responsible for economic and job growth and says as regulator the fed remains vigilant identifying new dangers to economic stability. >> what are the new threats? and you know, we're trying to look for those and to be attentive to them and you know, particularly to look at the regular threats are emerging but this is a real challenge i think for all of us. >> yellen also defended the fed's monetary policy in lead-up to the financial crisis and against those criticizing the central bank for creating the easy money that inflated the housing bubble. yellen downplayed those charges and said higher rates last decade would have led to slower job growth and less household wealth. david and cheryl. back to you. >> rich edson out in washington.

thank you, rich. david: thanks, rich. the big monthly jobs report is out tomorrow with the june unemployment rate expected to remain at 6.3%. the one trend that remains a big concern is the pretty low labor participation rate. in fact historically low levels. next we talked to the author of redistribution recession on why current policies are actually making matters worse. cheryl: that will -- probably be correct. exciting finish to team usa's world cup run last night. soccer fever is sweeping the nays. how big of a ratings night was it for espn? we have got those numbers for you coming up next. ♪

cheryl: time for a look at today's market drivers. the dow and s&p inch higher while the nasdaq dropped from its 14-year high. telecom led today's gains. payroll processor adp reported that employers added 281,000 jobs. that ask biggest gain in two years. they reported that employers would add 205,000 additions. crude fell at 86 cents to settle at $104.86 per barrel. dave. david: the june jobs report comes out tomorrow. there is slow improvement in overall unemployment number it

has come at a bitter cost. a record number of people dropping out of the workforce. our next guest said government policies meant to alleviate hardships of unemployed may keep them unemployed. he is university of economics professor casey mulligan who last week received the manhattan institute's hayak prize. author of a new book entitled, "redistribution recession." if he looks familiar you saw him other day on and the president rudely interrupted the professor in mid-sentence. only for the president, professor would we interrupt you. we had to have you back. let's talk about tomorrow. what do you think will happen with the unemployment number? >> well, it is tough to know on a month to month basis. i have noticed that the headline payroll number in general has been a little exaggerated. it doesn't include self-employed people. what we know about self-employed, their employment rates are coming down a lot.

there is a steady trend over last several years. if you see say 200,000 number, probably more like 100,000 or so. david: the bottom line, professor, that overall figure doesn't really tell the whole story, particularly when it comes to payroll participation, the number of people who have actually pulled out of the workforce all together. >> that's right. we have had a lot of public programs to assist people out of work but they have changed their character. a few years ago you had to say you were looking for work to get that assistance. that would be unemployment benefits. so you got a lot of people saying, yeah, yeah, i'm looking. now that obamacare assistance is different character. you don't have to say you're looking for work. the more important thing you're out of work, for whatever reason, retired, taking a break or unemployed. so you're getting more of these people who are out of work saying that they're not looking and they're just not working. david: the question is, whether some of our policies meant to help the unemployed are actually

hurting them by giving them incentives to stay unemployed? you say you talked to job recruiters. i have too, by the way, they see applicants who come in, with no intention of actually getting a job. they only come in so they can continue to receive their unemployment benefits, right? >> yeah. i've heard that from recruiters. economics predicted that would happen and it does happen. although it is a two-sided market. part of what is happening employers don't care to bid enough to outcompete the unemployment benefits. the end result we're paying people for not working and that is what we're getting, people not working. david: what is the most harmful government policy in terms of incentivizing the wrong kind of behavior? >> i have to name one? have to be obamacare. it is one law, that is full of lots of bad incentives. does a lot of economic damage as a big law. david: well, and it also does something, we're always focusing on a worker.

sometimes some of these policies actually make it easier for companies to fire workers because it takes some of the onus off of them to provide benefits after they fire the workers, correct? >> that's right. a lot of employers have an arrangement with their employees to make a transition smooth after a layoff or even retirement. and, employers have to consider that. if they say good-bye, the expenses aren't done. they're going to still get health bills from that employee and so on. that is how it worked for many years. now with obamacare, it's a new regime. somebody leaves your office. you don't have to pay their health anymore. the taxpayer is paying for it. david: all right, ronald reagan, the most free market president in my lifetime, even ronald reagan believed in a safety net, something to help people that are falling down and really can't get up by themselves. how do we get back to the idea of a genuine safety net as opposed to sort of a jobs

substitute lifestyle? >> well, there is always a tradeoff. the more you help people, that is the good part. the bad part the economy will be smaller. people do less to help themselves. i want people to recognize that we've changed that tradeoff. we've gone more in the direction of help. as you said, we always had help. under ronald reagan, we had help for people but it was less help than we have now. people should be aware of that. if that's what they want, they want to be more european in their help, guess what, you will be more european in your economic performance. david: i think one of the key things, correct me if i'm wrong, you studied this more than i have, in the whole welfare reform program in the mid-'90s, it was bipartisan, a democratic president, a republican congress put it together, they made sure people, if they corks they had to work for their benefits. if they could find jobs, they would be off of the welfare. i mean there was, right now, it is so easy to get on, you don't have to prove that you're

actually trying to get a job in order to get the benefits, correct? >> well, you're right. under gingrich and clinton, a couple of big programs. welfare narrowly defined, also food stamps. they had work requirement they put in there. it was really amazing how many people were able to find jobs. so-called experts said they will never find a job. there aren't jobs for them. when we said you have to goat a job, they got a job. under the obama administration those requirements are eliminated. under food stamps now you don't have to demonstrate that you have a job or even trying to get one. david: sometimes in fact, having a job is seen as a negative because you lose some of your benefits. casey mulligan, leave it at that. university of chicago and economics professor and author of, "redistribution recession." thank you. chairman? cheryl: bill ackman, carl icahn, do you feel left behind by these investment superstars?

coming up we'll tell you about a fund that gives you the chance to invest like a activist without being a billionaire. the u.s. soccer team may have ended its world cup journey yesterday, but the u.s. goalkeeper had one of the best performances in world cup history. we'll have highlights coming up next. ♪ [ male announcer ] some come here to build something smarter. ♪ some come here to build something stronger. others come to build something faster... something safer... something greener. something the whole world can share. people come to boeing to do many different things. but it's always about the very thing we do best. ♪

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david: even for a non-soccer fan like me, it was a nail-biting and action-packed game. the u.s. world cup, the run ended in heart break yesterday with a 2-1 loss to belgium. the espn broadcast of the game, scored the network its highest overnight rating ever for a world cup match cord to nielsen. the telecast averaged 9.6 overnight rating. the star of the show was u.s. goalkeeper tim howard. he had, despite their loss, the best performance, one of the best performances in world cup history. let's say the best. he had record 16 safes! that helped push the game into extra time. what can fans expect from the team now? here is what tim howard had to say? >> as heartbroken we are, saddened by the loss today, the future is bright. this team is young and exciting. we have so much talent. and guys are not even close to

being in their prime. so, the next four years will be really something to behold and it is exciting, really, really exciting. these guys are hungry for success. david: by the way we did not have time to put in his shoutout to cheryl casone but he had a shautout to cheryl. cheryl: huge fan of mine. we'll meet soon i'm sure. what if you could invest like billionaires carl icahn and bill ackman? there is a mutual fund that offers investors exposure to shareholder activism as its primary investment strategy. the fund, get this, returned more than 11% outperforming s&p 500 year-to-date. david: wow, that is good stuff. how can you get in? joining us, ken squire, 13-d moner to and activists fund investor. your name, 13d file something somebody who owns 5% or more of a stock. not all of those people are activist investors. you have to go through a list of what, 5,000 13 d filings if.

>> there are another 4,000 amendments. we renew all of those filings. from those we take the situations we think are the best activist situations. >> ken, explain to me, if you can, give me your elevator pitch, why we should be investing like an activist investor? because we see these billionaires fighting it out in front of the media and on the shows. >> right. cheryl: seems like it is a lot of just arguments. it is not value investing. more -- >> it is value investing. activism is strategy historically outperformed the markets. these are guys that are finding undervalued positions. they are value investors. they're not waiting for a catalyst to happen. they're not waiting for markets to realize value. they're going out there to actually be a catalyst to close gap between price and value. so that is, that is one of the main tenets of activism. thirdly these guys are not only putting capital on the line but putting reputations on the line with each situation. they tend to devote a lot of

resources, honestly even before i knew about your firm i've been asking other people if there was a firm like yours. it seems so logical. in fact your track record shows you are beating the s&p anyway. one of your biggest holdings is howard hughes. i guess it is about 5% or more of your portfolio. why so much in one company? >> well, we, our positions are very tightly ranged, not equally weighted but very closely. david: why did you heavily weight howard hughes? >> this one got there from appreciation. we started buying at 40. it is over 160 now. we find the best activist situations. our situations where a good activist gets on board of a good company and sits there you have bill ackman not only on the board, chairman of the board. if he is devoting lot of time to this company he obviously sees a lot of upside. cheryl: transactional investing is and strategic activism. what is the difference? >> there are different types of

activism. that is the situation of corporate governance type of activism, howard hughes. transactional when a activist comes in tries to get a company sold. strategic is type of transactional activism. maybe they're advocating to sell a subsidiary, buy a company, do a roll-up? cheryl: what about change in management? carl icahn told shareholders to get rid of tom done owe hoe to get rid of him as worst chairman of all time. >> that is he wanted to spin off paypal. there is operational activism, trying to cut cost, get robert marr begins, replacement meant, thanks like that. >> doesn't always work. darden restaurants has kind of a rough go of it at various times. that is one of your holdings. >> nothing always works. darden is way early in the situation. the jury is still out on it. activist situations like darden could be j curve, with where you have to come in and fix things

before you start to get better there is a board meeting in the september or november. starboard will try to replace majority of the board. we're very confident they will accomplish that. cheryl: what do you see for the second half of this year? we got a lot of surprises from people you're following and investing like icahn, ackman, people like that. do you think activism continues for second half of the year? >> money being poured into activism from pension funds and allocators is just incredible. hundreds of billions of dollars in activism. the other key thing is, the large mutual fund, institutional investors, big shareholders are have a much larger respect for activism than they ever did and supporting activists than they ever had in the past. it will just i think get a lot bigger. david: takes real details person in order to boil all the information down. 13d activist fund. you're so detail oriented, is it true you're kept out of casinoses because you're a card counter? is that true. >> there are some casinos in

vegas i'm not welcome at. david: a card counter, proud of it. a perfect person to run 13d activist found and monitor. ken squire, great to have you back. appreciate it. >> thank you. david: one of these amazon innovations plummeted on the company's best-seller list and not even shipping yet. we'll tell you which one it is coming next. cheryl: there it is. between creating tennis shoes and iphone cases, 3d print something transforming -day life. we'll tell you about the latest and greatest 3d printing breakthrough when we take you "off the desk." ♪ i had no idea i had shingles.

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david: well after a long-awaited launch, amazon's new fire phone looks like it could be in danger of being a big flop. interest in the 32 gigabyte version has plunged since it was unveiled two weeks ago. cheryl: fox business's jo ling kent as more on the fire phone's woes. jo? >> cheryl, dave, the amazon fire phone hasn't officially gone on sale yet and looks like interest is waning. the phone fallen number one on debut day to number 68 on amazon best-seller list this afternoon. just behind a certified

refurbished kindle white device of the 64 gig version doesn't place in the top 100 at all. some reasons why, we've been talking to analysts about this. the $199 price point for 32 gig is just as high as 16 gig iphone 5s and samsung galaxy s5. the phone doesn't have support for google play store may counter balance the benefits of the year of prime that you get with the fire phone. but, speaking of other phones, the fire phone does farewell against some of its competition on amazon.com. number two in the contract phone category after the galaxy s5. we're watching amazon's stock. closes higher on fighting ftc demands that it pay penalty for policies of purchases made by kids on smartphones and applications. that is according to reuters. david: i didn't know you got a year of prime. that is 70 bucks. that's a good deal. >> not bad. david: i might get one. cheryl: thank you, jo. >> thanks. cheryl: there is tinder for

dating and yelp for restaurants but what about an app that allows you to rate coworkers come on! oh, come on! cheryl: thank you. "off the desk"! coming up. david: i want to hear how that works. what happens when 3d printing meets operating room. the answer sill have your heart pounding. that is coming up next. ♪ you've reached the age where you've learned a thing or two. this is the age of knowing what you're made of. so why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have.

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david: it is time to go "off the desk." this is extraordinary. we've seen 3d printers printing everything from springs to homes but now researchers have discovered a way to print blood vessels. i am serious. i'm absolutely serious. this could be critical. >> i don't want to see that. >> researchers at university of cydey, harvard, stanford, mit, all joined forces, that is how the internet works, to make

first 3d printed blood vessel skeleton. they will grow human cells around the skelton and transplant them in the human body. when they are finish growing the 3d material disservice. this will allow researchers to build networks of capillaries in a lab, possibly leading to full organ regeneration. this is extraordinary. this could change everything. >> okay. also "off the desk" -- david: okay. you're psyched about this one. >> i love this story. if your job wasn't stressful enough, already there is a new app called knosen, that allows you to anonymously rate your coworkers personalities. david: this is sick. this is sick. >> what would i say about david asman? i don't know. david: oh. >> he is awesome. the app -- david: yeah, right. >> two images together and asks the user to rate the two, items who is more likely to leave early for a date. not me. david: this is nasty.

>> or more likely to buy cookies from a girl scout. david: like in cuba, they have this thing. tattletales. >> once the vote is cast, users see howp colleagues selected same candidate which is mean. perhaps more nerve-wracking, your colleagues rating each time you're rated, you're notified. that's kind of mean. anyway the app is intended as self-surveillance system for employees that they can use to adjust behaviors when necessary. i mean -- david: self-surveilance. it is snooping. it is snooping. tattletaling. however you want to do it. >> what do you think they would say about you on the app? david: austin what do you think people would say? >> uh -- david: he is just thinking. you can see his mind working right now. we asked you on facebook and twitter whether you thought we would see a bit or miss on 212,000 jobs estimate for june. that comes out tomorrow. craig on twitter says, he thinks the number will come in below estimates. if that happens, we'll see what happens with the market.

>> we'll see tomorrow. time for top two things to watch tomorrow. number two is the june ism non-manufacturing index. the rating expected to remain flat at 56.3. david: of course we've been talking about this a long time. number one thing to watch will be june jobs report set to be released at 8:30 a.m. eastern. economists expect non-farm payrolls to rise by 200,000. the unemployment rate is expected to remain flat at 6.3%. the thing is, there is this sweet spot. if it comes in too low, people will start really worrying about the economy and maybe people not buying as much. if it comes in too high, i shouldn't say high, we have a big jobs report. that means that the fed might pull back and raise rates sooner. >> if the wage issue that can't get over right now. we've seen this huge shift in wages. low-income jobs are prevalent in this country. high wage jobs are not happening. we can talk about percentages all we want but at end of the day, economy is not growing.

wages are not growing. rents are going higher. david: i think you're absolutely. gerri, t-mobile is looked at adding hundreds of millions of dollars to subscribers bills. how does that work out? >> cheryl, dave, thank you. that's right, t-mobile in trouble with regulators for cramming unauthorized fees on consumer bills. coming up on today's show. a veterans's widow joins with letter she received from the va. she says it left her feeling like she was in the twilight zone. also jamie dimon's throat cancer. important information for everyone concerning your health. don't buy chicken at kfc or a burger at mcdonald's? goer forget it. "consumer reports" is here with the annual list of best and worst fast-food restaurants in america. our maybe fat foods. "willis report where consumers are our business, starts right now.