gains of the day. [closing bell ringing]. gain of 7 1/2%. word they will spin off the paypal unit, which has been way better of a performer than ebay itself. david: indeed it has. we've been all over it from the beginning since charlie, you, everybody at fox business talking to mr. carl icahn, telling them he would force them to do just that. of look how all indices are looking. as i mentioned 10 men's ago, the dow jones had a plus sign next to it. now it has a negative sign. not a significant downward turn. again, exemplifies the up and down roller coaster quality of the day. the thing to focus on beside oil, is russell 2000. we're looking at small and mid-sized caps, talking how they are going down much further than the rest of the market. today is a perfect indicator of that down, almost 1 1/2%. a lot to talk about. we have robert hiller, nobel prize-winning economist to talk about housing in a moment. "after the bell" starts right

now. liz: if you don't have whiplash, stay with us. we break down today's back and forth action. robert kiefer from jensen investment. he is here to tell us why he thinks the market is in state of transition. we'll ask him, what happens after the state of transition? schaefer's research, joe bell, to talk about hurdles and short term hurdles, why they are not keeping him out of the market. larry shover in pits of cme. dying to know what you thought of today's market action and where flows take direction. >> that is a good question. >> we have a stock market trapped in broad volatile trading range. it can't make up its mind. the u.s. dollar continues to do what it has been doing all quarter, making new highs against the majors. oil was down almost 3 1/2%. hallelujah to the pony express

coming a month early. if you didn't see this, wheat making four year lows and corn making five-year lows. so beyond the stock market, there is a lot of headlines and a lot of action going on here on the floor. david: joe bell, start with energy. because as we just heard it got crushed today. but you are looking at oil service stocks right now, why? >> that is exactly right. the story with energy is definitely tied to the strength of the u.s. dollar. it has been catapulting higher, past several months. really this whole quarter. so, we have seen incredibly strong inverse relationship between those two. but i think perhaps u.s. dollar has gone too far too fast, when a lot of people were extremely pessimistic about the dollar back in may, june, july. now we're seeing a lot of bullish sentiment. energy stocks making a tradeable bottom here. i think there is too much pessimism. when you take a step back, feeling incredibly strong uptrend. i would look for more cash to flow back into the sector in the

fourth quarter. liz: joe is doing contrarian thing, when things look scary, go in. that is very buffettesque. let me bring in rob. you mentioned the market in a state of transition. how much does it have to do, i don't know with pictures of hong kong. when you have a protest of that size, in one of the world's financial centers, and it is 4:00 a.m. right now in hong kong, and people aren't moving, is that working part of this transition and moving it along? >> i think certainly the markets reaction is past the broader picture here, liz. for the last four or five years we've enjoyed a very strong bull market. essentially subsidized by the federal reserve with low interest rates and three rounds of quantitative easing programs. liz: sure. >> that is going to start to, the quantitative easing is ending next month of the fed is expected to increase interest rates either later this year or early next. and the market is really going to focus on risk and gee owe political risk, whether in

hong kong, russia, or the middle east. it will be a lot more influential in the short-term market movements. david: larry, the market well have to focus on economic realities here at home. and one of those will be revealed to us on friday, when we get those job numbers. what is your best guess for the job numbers, that we get on friday? >> looking for -- david: that is for larry. go ahead, larry. >> sorry. looking for aounceback of 215 after what we saw last month. we have to keep in mind the numbers have been anticlimactic even when they are really good or really bad. this might be different. it is coming on the heels of draghi and dominoes of day before. thing i'm looking at the most is wage growth. that is the thing we need in economy. we're not seeing it. all eyes are on wagings. liz: rob, you wanted to get in there. what do you expect? will this number be more important than the pictures we're seeing on the screen from hong kong? too i think it is all part of that bigger picture, liz. we have an could economy growing

in fits and starts. federal interest rates likely to go up, qe going down. therefore investors would be well advised to be discerning and discriminating in their investments and particularly cautious of small cap cyclical companies. we think there opportunity for investors long term but in higher quality companies. david: joe, talk about financials for a moment because there is a lot of question about what happens when rates go up and how the traits go up. a good piece by john hills send racket about -- jon hilsenrath about how the fed will unwind the position it got itself into. whether they continue to give banks money for holding their reserves. they give just a quarter of a percentage point but they can make billions on this quarter of a percentage point over time. >> absolutely. the story with financials is interesting, just because from an expectational standpoint we're about ready to start the quarter earnings season.

last earnings season during the second quarter, financials claim, only group analysts expected negative growth rate. expectations were really low and exceeded those hand had pretty nice summer. outperformance on the financial names even during rising rate environment which we haven't experienced quite yet. if we experience that in 2015 i don't think that is necessarily negative for the financials. i like outperformance and i like the fact that analysts continue to doubt that sector. let's not forget a plot of those write-downs hampering that sector during first part of 2014 a lot are off the books and banks can soak us on primary business. overall i think we'll see continued improvement in the fourth quarter and into 2015. liz: i agree. i have to say, and let me throw this to larry then, can the economy, this is rhetorical, because i think it can, with stand a teeny, teeny interest rate tightening? aren't we in, at least the point, at the point where we can put on our big boy pants and start to do this? >> yeah, absolutely.

and that is assuming that we're raising rates for the right reasons. it seems like most asset classes other than the stock market are pricey and assuming that we'll have some sort of a rate hike mid-year next year. the stock market is maybe desperately hoping for that. but, yes we can definitely, definitely survive as an economy. we can thrive. can we leave the engine economically with three of the four global economies not doing well? probably not. but we do have a rate hike, yeah of course, we will survive and do quite well. david: we'll have one. the question how big it is. rob, the other question i mentioned at beginning of hour, smaller companies getting creamed. russell 2000 down over 1 1/2% when the market was basically flat, the rest of the market. is that a concern? >> i think investors heavy into small cap companies need to be march cautious. as you as you know, small cap, lower quality, more cyclical interest rate type of companies

have taken lead of this latest stage of bull market. naturally follows that an interest rate rise, whether small orer rise will importantly stop price returns. small caps you need to be more cautious than i think in recent months. liz: wonderful to have you all. rob, joe bell, larry, we'll check back in with you in a few minutes when s&p futures close. david: thanks, gentlemen. home prices hitting the brakes across the u.s. with the s&p case-shiller index posting its smallest annual gain, it is still a gain, but smallest one in a year-and-a-half. is this a sign of a bigger slowdown ahead? liz: nobel prize winner robert schiller, cocreator of the s&p case-shiller home price index is joining us live. musician garth brooks, he decided to launch a competitor. is called ghost tunes. we have big names like coldplay, iggy and arianna drowned day joining the site.

ceo of ghost tunes joins us exclusively. david: ariana grande. i am afraid i haven't heard of her but i'm sure. ebay and palo alto filing for divorce. announcing they will split into two public companies s ebay a buy or will it fall flat without 6 billion in revenue from paypal? we'll tell you what the great is day saying coming up. ♪ many of my patients still clean their dentures with toothpaste. but they have to use special care in keeping the denture clean. dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can multiply. polident is designed to clean dentures daily. its unique micro-clean formula kills 99.99% of odor causing bacteria

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liz: avis budget rent a car slips into the red after managements warns of higher fleet costs. david: nicole petallides on the floor of nyse. give us details. >> at a deutsche bank conference the ceo was speaking. his comments pushed the stock to the downside. you see dramatic drop after lunchtime, down about 7% at the closing bell. so that obviously is a pretty big move. talking about a few things, cost in particular. mentioned fleet costs and that fleet costs would be higher than it predicts right? ha is not great news. coupled with the fact also talking about forward earnings and those two would be challenging to meet the earlier levels that they had put out there. so overall, just basically said look, things are going to be a little bit weaker than we anticipated. the stock reacted quite dramatically. it is up 35% for the year 2014 but today a big drop, down over four bucks.

that's a big move. back to you. liz: as you see on the intraday. thank you, nicole. david: s&p futures are about to close. let's head back to larry shover in pits of cme. larry as we go into the close of the dow we saw the market going down. is it continuing in that direction? >> yeah, seems like it is. it is depond dent. sentiment is very fragile. what we're not talking about is the big question, the overarching question, traders have, is can the u.s. economy go at it alone? and what we mean by that is, can we thrive alone like we did in 1991, '95, '98? the bigger question, the bigger mystery, can we continue to pull the economic engine the train? we're doing it now but with three out of four economies out of the word sputtering can we continue to pull the train and that is what is keeping sentiment so fragile. that is what keeps us contained in these trading ranges we're seeing like today. david: good stuff. thank you very much, larry shover. appreciate night you're welcome.

liz: according to the latest s&p case-shiller home price index, home prices fell .5 of a percent in july on seasonally adjusted basis. by the way, folks, that is the third consecutive month of declines. as for annualized growth, july marked the slowest rate of growth since november of 2012? david: is this a sign of weakening in the housing market? joining us nobel prize-winning economist, robert schiller, case-shiller foe cofounder and yale professor of economics. thanks for coming in. appreciate night my pleasure. david: the slowdown, and it's a slowdown, a slowdown in the pace of overall, continuing to go up but the pace is slower. is it consistent with the overall economic slowdown that the economy is experiencing or something steeper in the housing sector? >> well there are other confirming pieces of evidence. we saw pending home sales down. consumer confidence was down. so, yeah, i think that, i tend

to think maybe these things are a little bit related to the, you know, the islamic state and ukraine and other things that are bothering people. but it is really kind of too soon to tell for sure. liz: too soon to tell. let's dig into the weeds of the actual report. i saw a couple of things. number one, new york up about 1%, month over month. >> yeah. liz: miami saw price gains from june but san francisco, saw its first price decline in over, i guess a year? talk about that one. because those price have been so high. maybe it is saturation point here? >> yeah. i think that, it may be about time for san francisco. they were the biggest deappreciating, you know they went up over 65% since 2009? this is, this is our, weak economy. what is going on in san francisco? it looks bubbly to me. when i visited there, i had a feeling, i shouldn't talk about feelings but i'm a behavioral economist. liz: then you should.

>> yeah. it's speculative enthusiasm. now new york was different. new york has been weak and so they're just reversing now. it sound right to me that new york is due for a pickup. and san francisco is overextended. david: well, you had a feeling the last time we talked that there were signs of some kind of an investment bubble going on in the housing market t wasn't just a feeling. you had certain static statistics to back you up on that. >> yeah. david: do you still see that or do you think that's gone away for the moment? >> well i do questionnaire surveys, not extremely up-to-date so my surveys are annual surveys and over most of this period we haven't seen signs of really bubbly thinking over the period since 2009. people's expectation or home price increases have been sagging. so be, it is a little bit hard

to explain. these things are always hard to explain. maybe it is partly institutional investors coming in, foreign investors. in someplaces there is bubble thinking but, i wish i had a better science of all this. liz: okay. but your gut feeling was enough. all of your work to win you a nobel prize, so you're doing great, professor. get to the viewers right now who are either sellers or buyers. is it a seller's market or buyers market as you look across the entire region that your case-shiller price home index looks at? >> well, actually, home prices are going down in seasonally adjusted terms in most places. if someone is trying to buy or sell, it is not an urgent time to buy at this point. liz: you mean give it some time

and prices continue to moderate and go down further? >> i think it is still ambiguous. what i learned about forecasting home prices you have to see a trend established for a year. we've had three months of decline and, i, i think that most, best advice for most people, buying or selling is, don't rush, you know. either side. take your time and think about what you're doing. because, we don't have a clear outlook now you have the cape ratio. cyclically adjusted stock market ratio, if the stock market is overvalued or where it is historically compared to other periods. right now it is very, very high. you notice one spike around 1929. you notice another spike around 2000. you're getting up to those levels right now. what is your feeling about the stock market right now?

>> on top of that i also do surveys of investors. we're finding that investors are starting to worry that it is overpriced, not just indexes. it is out there, it is a time of worry. it doesn't predict disaster. the cape ratio is high but not at its record high. it is around 26. it has been up over 45. that was 2000, in the year 2000. so, it is not at a record high. it suggests to me that that the stock market won't be great performer overall in the next five or 10 years even. >> oh okay. this is highly priced. but it won't be, i don't have any reason to to forecast a disaster either. liz: just not a great poem that. may be one of the most important nuggets we got from you, dr. schiller. thank you so much. david: good talking to you,

professor. we appreciate it. liz: music superstar garth brookses is back, a different kind of rock store than dr. schiller. not only does garth have sellout converts but he is unveiling a digital music service to target itunes which he reilly doesn't like. we're talking to the ceo of garth brooks ghost tunes service. this is a fox business exclusive. david: big coal, as you know, big coal is drowning in a sea of red tape right now. can the industry stay afloat? we'll ask the ceo of alpha natural resources, one of the top u.s. coal producers. liz: 4:20 a.m. in hong kong and the showdown continues. you're looking at a live picture of one of the world's top financial centers, clogged and choked with protesters. will police crack down on pro-democracy protesters tomorrow which is china's national day holiday? david: back to coal what do you think about coal? can the domestic coal industry survive? send us a message at

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liz: time for a quick speed read of some of the day's other headlines, five stories, one minute first up news corporation agrees to buy move. this real estate listing site for $950 million in cash. under the terms of the deal news corp will pay 2a share in a tender offer for move's stock. u.s. oil imports rose to the highest level in 57 years. we're swimming in it. the price went down because of it. according to eia, average 401,000 barrels a day were shipped. apple's new iphone 6 goes on sale in china

october 17th. they won final approval of regulators who scrutinized the features, amid rising concerns about privacy. toyota recalled 100,000 tacoma pickup trucks to fix a problem in the year suspension. it involves tacoma four-by-fours and tacoma prerunner pickup trucks. netflix says the first original film, crouching tiger, will be first original movie. david: will split off paypal division into publicly-traded company next year. liz: that may be a win for billionaire investor carl icahn who months ago pushed precisely for the move. that is not a clear-cut victory for ebay shareholders. jo ling kent joins us. mixed reaction from the street but with the stock it was thumbs up. >> you're both right. analysts are digesting the

split. some like it much more than others. the key question, does epay have a bright future without the fast growing paypal arm? can that core is downgrading ebay from a hold to a hold from a buy. they believe the operating environment for ebay remains challenging. we see limited stock upside in the near term. flip over to rbc. they are loving the split and the spin off unlocks value. we agree with the share price reaction and would expect further appreciation. other ratings agencies weighed in. moody's put ebay on the move for multinotch downgrade. it will be a smaller company next year. they're concerned about a weaker credit profile. s&p placed a a corporate credit rating on ebay with potential negative implications. so investors they loved it. it was crystal clear for them. the stock was up 7 1/2% today. liz? liz: good stuff. thank you, jo. david: thank you, jo.

liz: country superstar garth brooks taking aim at apple, launching his own music service, ghost tunes. can you believe it? names like iggy, coldplay, shakira, already on board. in fact jumping on board. we've got the ceo joining us exclusively on taking on apple. david: meanwhile the war on coal has never been hotter but midterm elections could change a lot of. that will the u.s. start warming up to coal? we'll be talking to a leader in the industry, alpha natural resources ceo coming up right next. liz: fourth quarter kicking off tomorrow. investors should be filing. we'll tell you why next. opportunities aren't always obvious.

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>> heading to day three. hong kong looking another day of massive protests. tens of thousands of prodemocracy activists filled the street. david: a lot of demonstrators fear police may crack down on protests on wednesday. china's national day. it is very important day. fox news's david piper joining us from bangkok, thailand with the latest. david? >> hi, david. there is real concerns at the moment here in asia what happens next. there are tens of thousands of people remaining on the streets of hong kong late into the night and they continue to block major areas around the city center. now the government and protesters seem to have hardened their positions over the last 24 hours. the embattled chief executive of

hong kong, cjloon, urged protest es to leave. they told him they would in things got out of control which he believes they have. but they have again refused. and once again calls for him to resign. hong kong's chief executive faced mounting calls for him to resign following the decision to try to remove protesters sunday by use of tear gas and pepper spray by riot police. the protests have been overwhelmingly peaceful so far though, in fact they have been so belle based, they have even been cleaning up their own garbage. they are a mix of students, pro-democracy activists and supporters from the local population. they're on the streets over what they describe as china's meddling in the political system which they say is undermining democracy there. the protesters want to free vote for the city's next leader while the government says it plans to keep to china's plan which will allow beijing to effectively choose who will be the candidates. >> what i feel is, i really feel

hong kong people are so angry and so frustrated. because i can say, hong kong people are quite indifferent to politics but why they come out to occupy the main road here simply because the hong kong government here has never listened to us. that is why we come out. >> china will make the final decision on how this crisis plays out. a foreign minister spokesperson said today, china opposes all kind of illegal acts in hong kong that undermine the rule of law. beijing also warned that it is internal affair and other countries shouldn't get involved. the white house has said though america supports universal sufferage for hong kong. it is national day in china tomorrow. seems likely many more people will join protests in that chinese territory. the leaders of protest are saying as many as 100,000 people may come to join them. back to you, david. david: david piper, thank you very much. liz: thank you. country musicker star garth

brooks is set to release his first new album in 13 years this fall. he took a hiatus for 13 years to raise his kids. now for the first time his music will be digitally available you there his own recently-launched streaming service called goat tunes. while he was sitting out 13 years, he created a alternative for example, i tunes. he is hoping to artists more control over their content through ghost tunes. we thought this was business story, fox business exclusive, ghost tunes ceo, randy perrd that. we love the story, taking on the big guys seeing if you can succeed. you're in the beta testing. as i understand it, randy, people can download music right now? yes, they can, liz. put in the same sentence as those big ones is quite honorable right now just because we've only been around for one month. they are in beta and they have been around for years. we have a long ways to go. we really believe in ghost tunes. liz: why did garth decide to do

this? what problem did he have with itunes? >> doesn't dislike any type of e-commerce site out there. it was more about filling a void. he would do this strictly with his music on his website, where he wanted to be able to offer his fans a package that they couldn't get on any e-commerce site. that was he wanted to offer all eight platinum albums, 2014, his 2015 album as well as his double live and videos. he wanted to offer that all for 29.99 and no one else would do that. he thought, if i do it, he goes, it would give us incredible experience for fans and then other artists said why don't you do this for us. liz: randy you and i look to be around maybe the same age. so we are of the generation that went out and bought albums. i bought captain fantastic and the brown dirt cowboy by elton john. i listened to every song on a-side and b-side. itunes says here is the hit

song and leaves other songs struggling. am i get to the root of the issue? garth wants all the songs available because he has never been on itunes? >> every artist wants their own idea how they want their music sold and labeled. we allow them to do any which way they want. if they prefer to have it sold on singles, they can. if they prefer to have bundles like garth or strictly albums, that is the option of the label and the art it. liz: let's get into some artists already signing up. shakira, ariana grande, kenny chessey, blake shelton. are they going with the song format or bundling too. >> on ghosttunes and besides garth and tricia you can buy singles as well because of our deal with the labels. we literally have thousands of artists and nine mill pieces of content already. liz: how hard was to get them on

board? did you make individual calls? >> actually not. we dealt with the actual labels. all the major labels have some thousands of artists. it was pretty easy for us to bring them all on under ghosttunes. liz: you launch in early november and what are the charges for a single song? are you undercutting itunes and their prices? >> currently right now we're going to be at 99-cent to $1.29 but it will be more about the bundles and how we can provide music to the fan. how the artist and label wants it to be sold to that fan base. that will be the real important part. and also the one-stop shop where, like when you go on garth's page right now on ghost tunes you will be able to see you can buy tickets to his, his live events right now and we'll be rolling out his physicals and merchandise and you will be able to go to his website. all types of elements that you will be able to purchase on feature artists on ghost tunes. liz: different way of doing it.

ghosttunes we'll look for the launch. we're thrilled you came here exclusively. have garth on when he is ready. we would love to see garth and tricia and talk about their passion. >> i sure will. liz: randy bernard. we love those davids taking an goliaths, right? >> good luck to him them we wish them the very best. coal industry slapped around by new regulations by the epa causing costs to skyrocket. how is the coal industry fighting regulations? we talk to the ceo of alpha natural resources kevin crutchfield next. fcc scrapped the blackout rule for the nfl. the nfl could have self-imposed blackouts. we'll explain what that means coming up next. ♪ with universities across the state. for better access to talent, cutting edge research, and state of the art facilities.

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liz: so the fourth quarter kicks off tomorrow and investors may have a reason to smile. according to bespoke investment group, going back to 1928, the s&p has ave increases of 2.95% in the fourth quarter with gains 72% of the time. the median performance? nearly twice as strong at 4.4%. this year could prove to be even stronger. in midterm election years the s&p gained after an average of 6.47% in the fourth quarter. getting even better, everybody. in the years when it's a midterm election and sitting president is said to be so-called lame duck such as this year, the s&p

average ad gain of 10.5%. david: let's hope. liz: all you just heard what professor schiller said. he doesn't foresee great returns. not horrible returns but great returns for next five-year. david: i don't know if precedent is any rule here. the coal industry has had some really tough times. over past three years the top publicly-traded coal companies seen dramatic losses in share values as skyrocketed because of all crippling regulations. will an american industry who hundreds of thousands americans rely for work survive? joining us kevin crutchfield, chairman and ceo of coal producer alpha natural resources. kevin, i know you're an optimist. you look at those figures it is tough to be. what is the overall impression what is happening to your industry now? >> look it is a challenging environment to be sure but at the end of the day, coal power is 40% of the electricity in the united states and 40% of the power on a global basis. and there are many, many

economies in the world continue to grow and their fuel of choice continues to be coal. sometime next couple years we think coal will overtake oil as the world's dominant energy source. david: but the domestic coal industry is having a hello of time. -- hell of a time. robert murray, has a private coal company, not a public one like yours. he says frankly the domestic coal industry, and i'm quoting, isn't coming back. contrary to some recent coal company statement there is is absolutely nothing on the horizon that makes me think postively about coal demand and prices through 2015 an perhaps beyond. >> yeah. david: it is not coming back he says? >> well, look, who knows. it is hard to predict the future, right? but what we see is, one of the reasons i'm here in new york today is to talk about this new analysis that the industry will release in the next couple weeks that really characterizes the effects of these policies. david: don't you think, don't you think the people already know that all these regulations

are hurting if not killing the coal industry? >> i think they think of it as a coal issue. this is not a coal issue. this is fossil fuels issue and a consumers issues. what we'll see double-digit price increases in 40 states. 20% or more in 13 states. the coal fleet being jeopardized even further. and so you have to project this on to the folks who can least afford it. the common, everyday american. how are they going to pay? a lot of people already, something like a third are on fuel assistance programs which by definition means they can't afford it now. david: but the administration which is responsible for epa actions know this they know all these people are using coal and are going to be hurt by higher coal prices and they're not changing their policies. so what is going to force them to change their policies. >> i think what we're going to do get the facts out to put the facts in front of the american people because when you look at the, what energy touches, it touches every aspect of our economy. it is too big of an issue for a regulatory victim's to decide. it needs to come back before

congress. david: but the supreme court, one of those issues where congress was challenging one of their decisions is about arch coal, one of your, i guess rivals but one of your colleagues as well you could call it. arch coal worked on the mountaintop coal mine for years. they jumped through all the hoops. spent hundreds of millions of dollars. given approval by epa then had it pulled from them. how can you invest in the future when you have no consistency or assurance that your investments are going to pay off? >> it's a great question. to that issue, that is literally breath taking that that occurred in a land where we have rules of law. but the opacity, environment, right now, very hard to look forward to try to understand or predict and plan in this business, very capital intensive business. part of our strategy to get the facts out so that people can be alerted to what is coming our way. trust me, it is not good. david: last question. we have an election coming up. midterm, to what extent will coal be playing a part in this

midterm election? >> i think it will play an issue. i go back to the fact it is not so much about coal as it is about the consumer. not everybody has experienced a recovery in this economy we like to talk about. in a lot of red states it will be a pivotal issue, not so much again coal but a way of life and affordability issue. we're hopeful we'll get this issue back in front of the senate and congress after the midterms. david: kevin, great to see you again. alpha natural resources chairman and ceo. >> thanks for having me. david: good luck to you. liz, back to you. >> another setback for nfl commissioner roger goodell. this time has nothing to do with the scandals involving nf almost players. we go live to washington to find out how a rule change by fcc regulators after 40 years could change the face of football. they may look a bit like buzz lightyear but their mission is very different. coming up we'll tell you how two robots could help educate the next generation of silicon valley coders. you've got to see this. >> hi, everyone, i'm

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liz: we have breaking news coming out of the cdc, the centers for disease control. the first case of ebola here in the united states has been discovered. this is the only bit of information we know. 5:30 p.m. eastern time, the cbc -- cdc will hold a news conference discussing this. remember, ebola, as far as we know comes from contact with blood or bodily fluid of infected animals. it is believed to be fruit bats in west africa have believed to be carrier. two of course patients, doctors who were treating patients in africa acquired the disease and brought to the united states. they were cleared and cured of ebola. we have no details where this latest case first in the united states to be discovered, is. the cdc will, we hope, explain everything. 5:30 p.m. eastern. but in the meantime, we've been on this story. in fact there have been companies that have come up with perhaps vaccines for this.

tekmira was one of those names. look at this reaction. tekmira is up some 16% in the after-market close at this moment. ticker symbol tkmr. tekmira pharmaceuticalsry solutf some sort to ebola. cdc discovered the first ebola case here in the united states, 5:30 p.m. time, david. david: tekmira is up as a result of. that we question and wonder and keep you informed what futures are doing because this may have an impact on overall market. liz: let's get to the story of the federal communications commission. it voted to abolish the nfl's blackout rule which blocks local broadcasts if the home team didn't sell out the arena. there is a catch, the ruling does not guaranty the nfl will lift the controversial policy. david: rich edson joins us from washington. how can the nfl still enforce a blackout? >> well, david, the law allows two businesses, a sports league

and television broadcaster to agree to terms for transmitting football games. in this case the national football league said it is encouraging full attendance at football stadiums by blocking local games on tv if the home team fails to sell enough tickets. the federal communications commission issued own rule in the mid-'70s, when football attendance was far less than current performance and super bowl was less than a decade old. the fcc voted to eliminate their rule. since the nfl can block games on its own, the fcc is only left with urging the league to follow the commission's league. >> this is an opportunity, i hope the nfl will seize on this opportunity to repudiate blackouts. just like we're about to repudiate the blackout rule here. >> though the nfl has been defending the blackout policy and it is unlikely to reverse

course, last season the league blocked two games from local tv sets because the home team had too many unsold season tickets. while the nfl has its blackout policy, the fcc move could open the way for cable or satellite stations to transmit blacked out games in local markets. it is unclear how easily cable stations could secure that permission. back to you i don't thank you very much. rich edson. david: by the way, we suggested that there may be some market reaction to the news that there is an ebola case. now here in the united states. again we don't know details. whether it was home-grown. whether this person traveled here. certainly no idea whether it was airborne or not but you can see, i would say, minor effect of the market, it was already going down towards the end of the market day but it is continuing in that direction. this news certainly not helping. liz: okay. of course we will be taking that news conference live at 5 30:00 p.m. eastern. we will be right back with much more. stay tuned.

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>> we want to get back to our breaking news once again. we will know more when the cdc, the center for disease control, david, comes back with a press conference at 5:30 p.m. there has been a case of ebola discovered here in the united states. we already showed you tech mir remarks which is company working on some type of a therapy for, and you see it jumping pretty exponentially here. bio crest is another name and serapta therapeutics, two other names. both are jumping on the news that the cdc confirmed the first ebola case diagnosed in the united states. they tried to hold off the news until about 5:30. a bunch of other networks broke the embargo, we're getting information where this particular outbreak could have been. outbreak is too strong after word. one patient is in isolation. according to a cbs affiliate in dallas, north texas hospital.

north texas presbyterian hospital, they release ad following statement. texas health presbyterian hospital in dallas admit ad patient to strict isolation to be evaluated for potential ebola virus disease and based on patient's symptoms and recent travel history. that assumes that that particular patient had recently been in an area, infected by ebola. the hospital is following all centers for disease control and texas department of health regulations to insure safety of the patients, hospital staff and volunteers. so again, north texas, north texas hospital, apparently is involved in monitoring this patient, who apparently was traveling in a region infected by the virus. liz: charlie gasparino is reporting having conversations with traders that ebola could be a sort after black swan event for the market, sending it down pretty quickly. not saying this is going to happen. we will know when the markets open tomorrow. we can see e-mini futures.

they're down. david: we'll take the announcement 5:30 on fbn. lab reports are not in yet. we hope to get information in. >> stay tuned to fox business. gerri: we start the show tonight with disturbing news. the centers for disease control is reporting the first american case of ebola. the patient is in a dallas hospital. we will have the very latest on this, in a few minutes from atlanta, again, the first case of ebola reported in the u.s., out of dallas. we'll have all of the details we can get you in just a few minutes from the cdc in atlanta. stay with us on that. meantime, what about big drug companies, paying off your doctor? what is going on there? well americans will now have access to a federal database making it easier for patients to find out about ties between doctors and the pharmaceutical industry. how ready was the federal government for this