[closing bell ringing] cheryl: here we go. the bells are ringing. 10 seconds to go with the stocks closing in on a monday. unfortunately david, we're not getting good numbers at all. david: all the indices are to the downside. our focus has been on the nasdaq and dow which is triple digits in loss. take a look at this, russell 2000. you might have noticed on friday, down significantly even though the market was basically flat. russell 2000 was down 1% on friday. a lot of people are worried about the small and mid-size caps represented in the russell 2000. its down another 1 1/2% daft. of course there is worry about the 50-day average and 200 day average crossing. some people think it is a fatal x crossing. we don't necessarily believe in those rumors but you can't deny a 1 1/2% loss on the small and mid-size caps. keep an eye on that. "after the bell" starts right now.

david: rob stein, astor investment management ceo, will tell us why stocks will head higher and three ways to play the rally. pete lang, lang capital president, says rising interest rates will be a big problem for the fed and for investors. bob iaccino, joining us from the cme. bob, i want to start with you. why all the bad news on this gloomy monday? >> well, i don't know if it is bad news. you've got an overall market feeling really, really heavy. commodities look sort of like the canary in the coal mine, very, very weak. look what is going on with gold, silver. crude oil, is demand story at this point. not necessarily supply outstripping strong demand there. is no demand coming out of europe and china. no perception of future demand. it is weighing on stocks heavily. i still think this is going to be the dip that you buy. you talk about the russell. russell entered correction territory. recovered a little bit.

turned around pretty heavily. that will lead rest of the indices down. this is place to put your money. still a bull market. looking back for the correct level. i think that level is coming in a day or two. cheryl: rob stein, you're bullish. overall you think barring any fundamental problems with i guess assuming the economy, you think that we are going to have positive numbers out of stocks for the next couple of quarters but what about employment? what about a hit to gdp? is there anything that you think could derail these numbers that we've had over the last few sessions? >> yeah. i mean i think if you get, an awful gdp reading in q3 after, a phenomenal reading in the second quarter and you get employment trend to not be as robust, we've added several hundred thousand jobs per average per month for a long time. if that starts to dip below 100,000 and get gdp back in that 1% range, not continuing the 4% number we had or something close to that, you might see the economy stall and that would be reflective in stocks.

right now we think risk of owning stocks, there is risk in owning stocks, is worth the return you will have a few quarters out. david: lang, i want to talk about alibaba for a second because you wrote something interesting that the fed's money is going to china as a result of the alibaba ipo. what did you mean by that? >> what we've all got to remember we're in a global economy. so when you take a look at alibaba taking in 20 or $25 billion after the table, we have to look back what the fed has done since 2008 and they have injected 10 trilliondollars into our economy. unfortunately most of that money didn't find its way into the consumers hand. in fact, about 2/3 of it or 6 to $7 billions likely went into longer term investments or stocks. when i say maybe some of our money went over to china, it's a tongue-in-cheek analogy that our fed is supporting essentially a private market. and a lot of that money is

flowing out into public companies for example. >> we'll be talking about alibaba. yahoo! coming up in the next portion of the show. i do want to ask you, bob, we did see a move into bond today. a piece of that seems to be the existing home sales we got this morning which was fairly negative. what did you see? >> well, we see yields rising here. we'll continue to see that since the last fed meeting. the fed sort of bumped up their hawkish tone in terms of prediction on rates. the fed don't stick to their predictions. they're not very good what will come out of the economy. they haven't been. this is the first really real adjustment, real hawkish adjustment out of janet yellen. treasurys are playing that out. one of the things people struggle with, they will see they can lose money in bond funds. some of that money i think will shift back into equities. i don't think it will be bad for equities because i think it has been orderly and i think it will continue to be orderly. david: bob, you're bullish but the thought of deflation keeps

you up at night. explain. >> if you had one thing to worry about, not geopolitical events, not the alibaba ipo, the inability of the fed to reinflate economy. right now the velocity how much time the dollar circulates through the economy is at very, very low levels. the fed's balance sheet as you point out is ballooned, but those are not getting into money supply. that is a recipe for deflationary environment. that could be a big, big problem. we saw what happened over japan next decade. you ask me we're in that position for a lot longer than we like. david: if we are, how do we get out of it? that is tough one. a complicated thing. not like inflation where you raise interest rates or you, slowing economy where you just flood the economy with money. getting out of deflair nary spiral is a lot of different moving parts to it. wages need to adjust on downside, something very, very hard to do. and borrowing needs to be handled in a different way.

much, much, david, different problem than inflation or slowing economy. cheryl: pete, let's talk about some of your picks. think they're actually interesting, while strong consumer names, at&t you like that one, waste management, paychex. start with at&t. does this have anything to do with the launch of the newism phone? >> absolutely not but i would like to step back and look at this. when you look at economy overall, we could have significant pressure in upcoming months. first of all, we've got quantitative easing coming to an end next month. i think the fed's hiding the ball a little bit right now, talking about interest rates so much. cheryl: let's talk about your picks though. let's talk about your picks. spin the positive. go with at&t. why do you like it? >> i love at&t. if you look at beta, or how the stock performs in downward spiraling market it has a beta of 25, very, very low. paying a phenomenal dividend of about 5% this is the kind of

equity that you want to be in if you see a little tension or a little bit of market volatility come negotiate future. david: and rob, as we look at oil prices going back down to 89 mark, it is 91.40. that is how it ended the day, looks like there is a downward draft continuing there is it time to buy into energy stocks? >> i like the energy sector. i do think there will still be demand for energy. i also think profit margins are expanding right there. we like to play that through various etfs. we also like the technology sector and the health care sector. also play through etfs. david: rob stein, pete lang, thanks, gentlemen. bob iaccino, we'll see you in couple men's when the s&p futures close. thanks a lot. cheryl: try to turn this positive. dow and s&p 500 steepest losses since august fifth. david: not a good day. but there are bright spots to be looked at. cheryl: i'm trying. taking a look at yahoo!, here we

go, another negative story. the stock falling for second day after big ipo of alibaba. are investors starting to worry about its worth without alibaba in the long-term future. could yahoo!'s assets be worth zero? debate coming up. david: gold's luster has faded if you've been watching that fall as well as stocks. it is hitting the lowest level in eight months as investors see a rate hike on the horizon. will the slide continue? or are investors wrong? we have a very strong bull for all you gold nuts out there and a very strong bear for the folks who think gold will continue to fall. cheryl: can't imagine who the bull is. let me take a guess. we've seen driverless cars. what about driverless trucks? we have an exclusive look at one of the first driverless trucks being tested out there. david: my goodness. scary. cheryl: great, right? could this be preventing accidents by overworked drivers. how about a stretch or little yoga. david: david: facebook question. do you think it will tumble

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david: we have breaking news here. shares of herbalife falling heavily into the close. cheryl: let's head back to nicole petallides on the floor of the new york stock exchange. >> look what happened to herbalife. herbalife was a big loser, down 10%. it has been down more so going into the closing bell. moving to new lows of $38.63 a share. the reports are, and one cites another one, basically saying that carl icahn may have dumped out of his stake in the multilevel marketer. when you talk about herbalife, it has been such a controversial company overall. ackman saying the whole company is a ponzi scheme t only works by getting new sellers to sell products and that is how the whole thing works. other people were big believers in herbalife. the stock was down 50% this year. hit a high of $83 in january. doug kass one person who tweeted this zero hedge, open oy crier. another one attributed to this.

fly on the wall, everybody seems to be writing this. so this is one of the reasons. it has been a weak player all day long. going into the close you saw the plunge. under pressure to be a big story tomorrow as well for herbalife. back to you. cheryl: 52-week low, david. david: 52-week low. we should mention it is popping a little bit, in after-hours trading but not too much, not to make up for its loss. cheryl: we'll see when mr. gasparino says about herbalife. david: right. and mr. icahn. cheryl: s&p futures closing. let's head back to bob iaccino in pits of cme. bob? >> the closing in here is very, very quiet. oddly quiet. we have minute 1/2 until futures close. we're not hearing or seeing normal order that come in. david you and i talked about this a couple weeks back, these are kind of days, or two days, where the market is subs sentable at these highs. the economic picture is mixed when you talk about numbers and fed speak coming out. we talked about the fact i think

this is bull market. u.s. is place to be. fourth quarter earnings i believe will be strong. guidance has been pushed down a little bit. the bar has been lowered. i think these will end up being dips to buy. i think you will see weakness into tomorrow morning until we get big news. david: this is quiet. never heard it that quiet at close of cme, bob, thank you. the stock hit hard in days following alibaba's ipo. there is talk about yahoo!'s core business, whether they could be actually worth nothing without alibaba. could they be? cheryl: that's a great question. should yahoo! be split up? should it be sold? joining us brian frank, frank value fund portfolio manager, and scott kessler, s&p capital iq equity analyst. scott, to you first. you've always been bullish on yahoo! but these are very real questions about a yahoo! valuation without alibaba. what do you say? >> well, cheryl, i don't know if we've always been bullish on yahoo! but which definitely look

at the stock as pretty attractive right now especially given the recent selloff. i point you to a couple of points, right? so, number one, is the fact that they still own 16% of alibaba. so they're going to participate in whatever upside there is to the stock. secondly, they just got over $8 billion in proceeds from the sale, related to the ipo. and then third, there are a number of alternatives they could pursue to reduce the taxes associated with that sale and any potential upcoming sale. so, if you look at it on the sum of the parts basis which we, and i think a lot of others do. we see a valuation as appropriate of around $50 a share. david: all right. well, brian, let's take the large picture. first of all, i love yahoo! i happen to use the search engine. i have a couple of yahoo! accounts and everything but frankly a lot of people say it is not a first-rate tech company. it is not even a second.

a lot of people say it's a third-rate tech company. it has a $40 billion market cap. is it worth that big of a size? >> no, i don't think it is worth that big of a size, definitely not a large piece of that 40 billion is alibaba and yahoo! japan. stripping that out, doing sum of the parts now that we have publicly-traded company on alibaba and yahoo! japan, the sub i don't think is worth 8 billion or so. david: what do you think it is worth? >> i think it is, it could potentially be 50% cheaper than this before i get interested. but what i would do, i look at earnings streams an look at operating income and operating income has plummeted. i don't think the earnings quality is very high. they're spending a lot on stock comp. certainly increased amount of engineers working on things. i'm with you. i love the service. i use yahoo! finance every day. i don't think it's a big moneymaker at least to the valuation the market is putting on it. cheryl: what can marisa mayer do

to turn the company around in your opinion. >> i'm a business guy. i look at the business behind the stock price like warren buffett and benjamin graham say to do and one of the things warren buffett always said always stuck with me, when a good manager are meets a bad business, usually the business wins. marisa mayer is superstar. i don't think she can do much with yahoo! david: scott, when i look at yahoo!, i see part of what brian is saying, wonder if somebody like carl icahn, we mentioned him in the previous segment, bill ackman looking at it, gee an activist shareholder could do a lot with this company. do you sense somebody like one of those or somebody like them to get into the game? >> i don't any reason to get in the case. carl icahn was involved years ago when microsoft was pursuing acquisition of yahoo! and david einhorn was a coupled involved couple years ago. short answer we don't necessarily see that. i honestly don't answer people don't see the fact if you look

at the value of publicly-traded shares held of alibaba and yahoo! japan and add the cash you're really almost getting the entire yahoo! business for free. and so that provide a lot of optionality we think. you know what? if the stock remains undervalued as we think it is currently -- cheryl: so sorry, scott, i need to interrupt for a moment. sorry, got breaking news on herbalife. i want to bring it to viewers attention. getting breaking news from charlie gasparino, our very other than reporter here at fox business. people close to carl icahn, according to those people carl icahn has not sold a single share of herbalife. what is interesting about, if you look at the stock as it fell into the close, sort of ticked back a little bit in after-hours trading. charlie gasparino is reporting that he has not sold anything. that is according to sources close to mr. icahn. he does not have a options stake either as well. wanted to bring that breaking news. scott, so sorry, please continue to your thought.

i wanted to bring the breaking news to our viewers. >> i'm sorry. basically what i was saying is, if yahoo! remains undervalued as we think it is, then we could see the potential for other interested parties to get involved in this situation. and to be honest with you, when you look at likes of a alibaba or a softbank, both of the people responsible for running those businesses last week said that they wouldn't rule out looking at yahoo!. so, look, i mean we don't think that is the premise for which someone should invest in, or stay in yahoo! but, we think that is another reason that could very well support the shares. oh, by the way, with the proceeds at least half of the proceeds, yahoo! already said they will repurchase stock. that will support the shares as well we think for some time to come. david: brian, given the best circumstance, you already credited melissa for being a terrific ceo, but what could she do the company is not doing?

now that they have extra cash from alibaba, what do you think she will do, what do you think she will buy that might make somebody like you, a naysayer, interested in the company? >> she bought tumblr for a billion dollars, and that certainly doesn't produce a significant amount of operating income. so i'm not so sure that silicon valley way of doing things works on an older company. i understand google purchasing youtube back in the day. they managed to scale it significantly. maybe mark zuckerberg is doing the same thing with whatsapp, but yahoo! is an older asset. they have to create something from nothing. they have to be a startup again. maybe that is why she hired all these engineers. they're coming out with a interesting way to attack mobile because that's really where i think they could get a foothold. cheryl: interesting, you guys have differing opinions on this story. brian, frank, thanks very much, appreciate it. >> thanks very much. take care. david: gold is losing its shine with some investors but is the precious metal slump temporary or part of a long-term trend?

a bull and a bear are here to duke it out. with permabull peter schiff and james cordier for the bears. >> not just gm those are recalling cars and suvs. another carmaker announcing a big recall today. could you be affected? we'll have the numbers coming up. david: speaking of the auto industry, jeff flock has exclusive first look at the what could be future of the trucking industry, no hands. jeff? >> that is a live picture. look at that, a live picture of a truck on interstate 80 outside of chicago. today, daimler benz debuting new technology that could make it possible for truckers like him to take their hand off the wheel, watch a movie, maybe even take a little nap. could help the trucker shortage. full details just a moment. ♪

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david: time for a quick speed read of some of the day's other headlines, five stories in one minute of the first up, chrysler recalling 230,000 jeep grand cherokees and dodge durango suvs due to a problem with the fume pumps. this recall affects 2011 mod early year vehicles. spirit airlines raising fees by two bucks. higher fees for flights booked after august 19th for trips between december 11th and january 5th, the holidays. baltimore ravens spending six figures letting fans trade in official jerseys with ray rice's name and number. 7,000 people went to the stadium friday and saturday to take part in the exchange. microsoft delaying the launch of xbox one in china.

originally scheduled for release tomorrow. microsoft did not give a reason for the delay but said the console will be released by end of the year. icloud hacker release more nude photos of celebrities. the fbi investigated after personal apple accounts were leaked september first. new set of pictures reportedly contain photos of kim kardashian, marry kate olsen and u.s. soccer star hope solo. ran out of time but had to have the naked celebrities. cheryl: important story. one auto giant is working on driverless trucks. david: i can't believe it when i saw it for the first time. jeff flock with first exclusive look at daimler-benz truck. jeff is on the road. jeff? >> here's the deal. you know you spend time out on the road like this, as we have all day today, you see a lot of distracted driving. people already taking their eyes off the road, maybe taking their hands off the wheel. truckers spend a lot of time out

there, take a look at these exclusive pictures made available to us at fox business for the folks at daimlerchrysler which by the way owns the u.s. big truck maker, freightliner. they are developing technology that would enable a trucker to essentially back away from the wheel, take his hand off of it, maybe write emails, surf the internet, watch a movie, which we know actually a lot of truckers do now. look at truck stop, you see them buying movies, dvds to play in portable player. they're spending eight, nine hours out on the road every day, gets kind of move not news. this technology a lot of people think than the current way things operate now where you have a lot of people in very distracted fashion. obviously autonomous drive something that a lot of people are working on, specifically for cars. in fact this weekend on our across america program, 10:00 p.m. eastern on saturday nights, we do a segment on autonomous cars, autonomous parking as well as the trucker

shortage out there. cheryl and i were talking about this last hour. there is a real shortage of truckers out there, david, because a lot of people don't want that lifestyle. but can you imagine, if you enabled people to be able to spend their time doing other things as well as drive, maybe that would, you know, take the pressure off a little bit? it is interesting technology. debuting today at the international truck show in hand oafer, germany. here on fox business. david: can you imagine going by a trucker without using his hand to see him looking at movie on ipad that. would freak you out if you saw a driver like this, wouldn't you, jeff. >> we're driving right up alongside the truck. tim, switch to the other camera outside. he has his hand on the wheel. that is good solid american trucker. with his hand and eyes on the road and on the wheel. but a lot of guys we come up and observed, they're fooling with things, moving stuff around, looking at something else. so you know, maybe the truck

drives better than people sometimes. david: jeff flock, thank you very much. cheryl: thank you, jeff. david: it is being called the airbnb for businesses. letting consumers rent work spaces rather than housing could save business travelers thousands of dollars a year. we talk to the ceo of peer space a great idea, straight ahead. cheryl: global warming activists flooding wall street as climate change made center stage at the you know. we'll take you live to the protests as the it has begun, crowds are growing this hour. david: apple set as new record for iphone sales. blackberry tries to make headlines and announcing pricing and details for the new phone. what does it look like? we have details straight ahead.

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cheryl: okay. we all saw videos of apple fans standing in line to get the new iphone waiting for days, even weeks to get their hands on the new devices. according to apple the company sold more than 10 million iphone 6 and plus during the first days of availability. last year, iphone 5 sold 5 million. it is not only smartphone maker unveiling new devices. look at the blackberry set to launch a new phone this wednesday. that is is it, passport. has a square queen. still with the blackberry phone.

will cost $599 without carrier subsidies, which is cheaper than other high-end phones. >> how do you hold it? i don't understand. we all know how to hold gold. some of us love it. i love gold. it started year rising 13% from january to mid-march, since then, gold as you know plummeted, falling to its lowest level in eight months. so maybe now is the time to buy. or is gold set for another selloff? time for a street fight with the bulls. peter schiff, europacific capital ceo, and for the bears, james cordier, option sellers.com founder. gentlemen, thank you very much for coming. peter, to you, most traders tell you as the dollar strengthens and as the fed gets prepared to raise race, the price of -- rates, the price of gold will continue to sink which you say what? >> i don't think the fed is going to raise rates. i agree there are a lot of people who believe that a rate hike is coming but i think before that considerable period of time comes to an end, the fed

is actually going to launch another round of qe that is even bigger than the one they just tapered because i think that the fed is misjudged the strength of the u.s. economy and i think we're going to be back in recession before the fed begins to hike rate. david: before you go into the recession, peter, just let me ask you. this is news -- hold on a second, peter. this is news to a lot of people, that the fed is actually contemplating a new qe that is more intensive than the ones we've seen in the past. do you have any information or is this just a guess on your part? >> well, remember, every time the fed has done qe, whether it was the first qe, qe2, every time they have launched qe, they always followed it by another name. they never claimed they are growing to do it. everybody thought well, they will do qe and economy will recover and be able to raise rates. they have never followed qe with a rate hike. they always followed it with a bigger doze because it doesn't work. the more you stimulate a economy

with qe the more addicted it becomes to it. when you take away you get withdrawal the fed comes right back with more. remember janet yellen said it is all data dependent. if the economy rolls over she is back in the q e-business and rate hikes are off the table. david: james, have you heard anything? because i haven't, about this new qe peter thinks is going to happen? >> that would be actually news to me and probably just about every other investor. quantitative easing as far as we know will end in the next month or two. interest rates will bump up ever so lightly next year and european union contemplating lower interest rates there that should continue a strong dollar and make a very difficult landscape for gold going forward. david: james, we also have the problem, that you alluded to of the weakening of both europe and we haven't talked about china. it does appear, and we just had new information out today, strengthening the notion that china is weakening a little. won't that also increase the

upward pressure of the dollar and therefore the lowered price pressure on gold? >> right now it is perfect storm against gold. we have, weakening chinese economy as well as european economy. so demand is certainly slowing because of that. as they weaken the u.s. economy and its dollar strengthens versus those two economies, causing a gold and in real terms to be more expensive. of that is why you don't see chinese buying coming in at these buying just a little over 1200 in real terms. in real terms, gold is 1250, 1257 for these companies. that's why you don't see a bargain of them coming into the market. david: to which peter says what? >> i think from the dollar price perspective there is a lot of support around this 1200 level. i think there will be a lot of buying down here and you usually get a lot of bearishness when the gold gets aroundhe 1200 level. i don't know how you can be, if

you're so bearish on global economy and believe the fed is going to tighten and ultimately shrink its balance sheet which is something the fed never done really in its history, the balance sheet always expands, we'll have a tight monetary policy and weak global economy, how is the u.s. economy in isolation going to with stand this? david: that is a fair question. and it take as while for peter to hear me, but james, how would you answer that question. how will the u.s. economy strengthen in light of weakness from china and europe? >> everything is relative when it comes to the value of currencies. if the united states con me is this much stronger than everyone else, the u.s. currency continues to strengthen. as long as that happens, it doesn't matter if the world economy is strengthening as a whole or united states just slightly. the green back continues to be strong. demand for gold is calm at that point and as long as that environment aches place, it is a

sustained rally back to 1350 or 1375 is very unlikely. >> but interest rates are rising. the u.s. economy can't be strong. if the interest rates will rise here we'll be in bear market in stocks, bear market in real estate, consumers will be crushed underneath mountain of debt. u.s. government will have huge debt service payment with much higher taxes or big cuts to government spending. i don't see how the bubble economy we've inflated so dependent on cheap money, how does it survive the removal of that cheap money? david: james, i will have to i have but the first word next time we have you guys on because we have literally run out of time. i'm so sorry. we could continue this for a while. peter schiff, james cordier, thank you very much, gentlemen. we want to hear from you folks. will the gold selloff continue or is now the time to buy? send us a message, facebook.com/afterthebell. your answers coming up. cheryl: peter schiff, i'll tell you, tough guy.

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cheryl: it is the airbnb of commercial property. it rents out short term creative spaces for hour or days at a time. this let's companies change regular work surrounding. a lot of time they can eliminate to sign three-year office leases which are big bucks. david: i love this idea. he joins us to discuss his company's recent $1.5 million round ever seed funding. i'm not only person who thinks it's a great idea. thanks very much for coming in. i'm curious off the bat whether there are some people who don't really have an office, who maybe have a p.o. box and work out of their home, but just want to give the illusion of grandeur so they come to you, and say, let me have a office space to entertain really nice one, to entertain clients and make them thing that my business is more than it really is? >> well, yeah, that is exactly right. today about 1/3 of the world's

workforce is mobile and, that means that they don't want to have, be tied down to long-term leases some they need a service like pure space to get short term access to really wonderful spaces. cheryl: you got a lot of money in funding, 1 1/2 million dollars. how do you plan to spend the money? what is next for you? >> we'll go with two-ways we'll use it. number one on the development side, we announced we hired our cto, jeanine johnson. she will buildout a wonderful development team. on the business side we'll use funds to expand and grow into new markets and new cities. david: i take it, you sort of do background checks of people who might want to rent out for hour or day or couple weeks ago, is that right? do you have some liability to make sure, do you take on some liability to make sure, you know, these are not crazy people that will tear the place up? >> well, our platform has a built-in review system and so, we pride ourselves being transparent so that anytime a host receives a request from a

guest, they can see that person's review and make sure that they're a reputable source within the community. david: do you vouch it yourself? do you take on any liability yourself in case the guy's a crook? >> all of the transactions that take place on peerspace are covered by general liability coverage. yes we do make sure everything works perfectly and smoothly on the marketplace. cheryl: ronnie, linkedin has used your service, your app, correct? >> that's right. linkedin, a company with a wonderful office of their own but every once in a while it is really great for teams and individuals to get outside of the office and be inspired in a different location. so on peerspace they reserved a photography studio not being used that day. the studio which has beautiful thank you light and really inspiring space. they had about 20 people there for an all day team off-site. david: airbnb, i'm sure you have

seen the press. here in new york and some other cities has taken a lot of heat from some regulators saying that, you know, we don't like the idea of strangers coming in and out of our apartment building. is there a similar problem for you guys or? >> actually, we don't have that problem because our host spaces are zoned for commercial use. and thus it is perfectly within the right to license their space for short-term use in this manner. >> ron, really quick, we looked at some of your competitors. are you worried though somebody like an air b in b could say, what a great idea and start the same process with you? they are a bigger name than you. is that a concern for you at all? >> well, we certainly respect airbnb. they're a trailblazer in the sharing economy. but they're really in the business of trips and travel. peerspace is in the business of allowing companies and individuals to be inspired by offering them short term access to truly one-of-a-kind spaces.

we feel like that is completely different business. cheryl: rony, great idea. best of luck. david: thanks for coming on. cheryl: oh, no. cheryl: what happens to an iphone 6 when cooked in a microwave. david: what? cheryl: you want to know that, don't you? one man did that in the aim of art. it wasn't any iphone 6. stay tuned for this video of this. david: if you want to know how china's richest man, jack ma, celebrated alibaba's giant ipo on friday, we have the inside scoop because our business reporter jo ling kent was there, at the party, yes, she gets paid to do this kind of work. cheryl: did she stay awake for the party? david: how long was she at the party? we'll find out. ♪

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david: so alibaba is a little down today in its second day of trading after making history with the biggest ipo ever on friday. cheryl: fox business's jo ling kent attended the e-commerce giant's big ipo debut party friday night. today the green shoe option. >> yes. cheryl: explain what that is? >> essentially more of the major investors including yahoo!, alibaba, itself, the vice chairman, jack ma, the executive

chairman, they sold off more shares to satisfy demand that came in on friday. so certainly a lot of demand which pushed up valuation and number of shares sold. so now it is officially the world's biggest ipo ever, pushing aside agricultural bank of china, another big chinese bank. cheryl: those sales were after the close on friday or actually those happened today? >> they were, the filing came out according to reuters out on friday evening, saturday morning. we heard about it over the weekend. david: let's talk about the party and we do have a picture, i don't know if we show the picture of jo ling kent with the lampshade on her head with her in the made ditch. looks like a center piece. only kidding. >> if i was that cool. david: you told me it was kind after rave party. a lot more subdued than people thought. >> it was at a nice restaurant in new york city and invited press to come along and executives and major institutional investors. david: there is jack ma. >> jack ma went on stage and

gave a nice warm speech what it was like to go to zero to hero in 15 years and what it meant for him to be listed on the new york stock exchange. jpmorgan's guy, leading the alibaba deal, jimmy lee, also gave a speech, very inspired by jack ma. we got to meet some executives. i got a chance to chat with the vice chairman be who was very nice. interesting group of people because it is fundamentally chinese company and yet now they are so global, both in listing and in business. cheryl: can i ask you a question? did they address the fact that a lot of americans still don't know what alibaba is? does that bother them? >> i don't think it does. cheryl: or the fact they each made a few billion dollars each compensate? >> jack ma in our conversation at new york stock exchange last friday morning he really wants to expand. clearly growth in the united states was on his mind during the road show. it has been for a while. i think we expect to see major. >> expansion into the u.s. it may not be under the name of alibaba or more investment with

companies like lyft or shop runner or buying yahoo!. there are a lot of possibilities out there. david: stay with fox business. don't go to alibaba. we need you here. >> no, i'm there to cover alibaba. you got it. david: she does a great job at it. jo ling kent. good to see you. batman usually fights crime alone but this weekend in one city he was joined by hundreds of friend to set a world record. details and video coming up. cheryl: the video is good. what do you do when you stick a new iphone 6 in a microwave and melt it? that art. david: that is art? cheryl: masterpiece, phone matter piece. ♪ "hello. you can go ahead and put your bag right here." "have a nice flight." ♪ music plays

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david: time to go "off the desk." one art test attempting to

capitalize on the iphone 6 in unique way and lack of taste in the art world, melting the new iphone and selling it as collector's piece. kennyey irwin, bought a iphone 6 for $400 and threw it in the microwave. now asking for it on ebay for $7,000. there have been two offers for melted iphone. the posting is a popular. >> you just waste ad lot of your money. congratulations. "off the desk," mixing business with pleasure is not a bad thing. they have broken the record yes, for largest gathering of people dressed as batman. david: doing ymca dance. >> 542 companies put on capes and masks. this was organized to kick off the company's united way campaign, themed for superheroes. david: why is the ymca song seem appropriate. it really does.

asked on facebook or twitter whether you think gold will tumble further or is now a good time to buy? wayne wrote on facebook, anytime is good time to buy gold. it is good insurance to counter fed money printing. >> the tumble will go on. david: joe, on the other hand twitter thinks gold looks like a buy but sell in two months. >> number two thing to watch tomorrow will be the september richmond fed manufacturing index. last month the index rose five points to reading of 12. this survey widely followed as indicator of manufacturing trends. david: the number one thing to watch tomorrow, will be speeches by these three members of the fed, kansas city fed president esther george, jerome powell and st. louis fed president james bullard. they will be speaking at st. louis fed conference. you know how the speeches can spur the markets one way or the other. >> they certainly can. hopefully in new york we'll not watch traffic jammed up.

>> yeah. >> "the willis report" is next. gerri, looking at new warning for consumers regarding alzheimer's. gerri: that's right, cheryl and dave. thanks for that. the price of one of the nation's most popular alzheimer's drugs is going through the roof. we'll have details. coming up on the show, is at&t or verizon better carrier for your new iphone? what about smaller companies that are rivals? we'll have the answer. protesters back on wall street this time complain about climate change but is american big business really the big problem? saving money on soda. can home soft drink machines, yes there are soft drink machines you can use at home, will they save you cash? we'll have the answers. "the willis report" where consumers are our business starts right now. gerri: we begin tonight for good news in the market for consumers looking for a car. prices of used cars are falling