on pins and needles. as the market tenses up.... how traders are playing out the shortened trading week. in today's cover story....what's in store as the wirless market shrinks.. plus.... why some lottery losers are actually winners.. and.... who wants to be a millionaire? stick around for the secrets of the rich... first business starts now! good morning! it's wednesday, september 4th. i'm angela miles. in today's first look: rattled and rising. stocks gained ground tuesday even as worries build about what's next with syria. gold and oil also rallied- but mostly out of fear. apple is sending out invitations to the media

for its big event september 10th at its headquarters in cupertino, california. it's widely expected the tech company will unveil its next iphone kodak is expected to emerge from bankruptcy. the iconic company has been in chapter 11 for 20 months. kodak will continue as a smaller digital imaging company. investors holding old shares will be able to write it off as a tax loss. larry shover of sfg alternatives joins us now. larry, is this a high risk market? > >it is a high risk market but the good thing is when you talk about syria, and you talk about the summers appointment, the budget deficit, the fiscal cliff. these things have been known risks for about a month now so the market has had time to digest them so the reaction might not be as big as if it

just came out of left field. > >oil has been trending higher. will that trend continue? > >i'm afraid the oil trend will continue to be higher. supplies have been really tight even before we had these problems persisting in the middle east. the truth of the matter is if it does persist--- if we see $155-120 barrel of oil---it could really undo our stock market or have a severe correction. > >the big g-20 meeting takes place on thursday. what do traders think about that? what is the market saying about that meeting if anything at all? > >the g-20 meeting is a big meeting. there's a lot of moving pieces. a lot to dissect but the bottom line is what the investor needs to know is the market continues to think that central banks around the world are going to keep rates nice and low for a long time. > >thank you larry. > >you're welcome. the showdown with syria will overshadow the g-20 summit thursday. president obama took off yesterday, for a 3 day overseas trip to sweden and then russia where the summit will be held. the president is

urging lawmakers to support his plan to punish syria for what secretary of state kerry says is evidence of a chemical weapons attack by syria's government on its civilians. house speaker john boehner and democratic leader nancy pelosi agree with the president. however, the russian president vladimir putin who is hosting the summit is at odds with mr. obama. the house and and senate are expected to vote next week on authorizing an air strike against syria. a major shareholder of smithfield foods is going on the record to oppose the sale of the company to a chinese firm. the virginia-based smithfield is the world's largest pork producer. the company struck a deal last may to sell it's business china's shuanghui international for $7.1 billion. starboard value l-p owns nearly 6% of smithfield common stock and says shareholders are being shortchanged with the per- share price of $34. instead the company should be worth between $44 and $55. the number of wireless aquisitions recently--including microsoft's purchase of nokia,

are aimed at one thing--the wireless future. our cover story look at who gains and who pays as companies position for what's next. microsoft's purchase of handset- maker nokia helps the software giant transition into a gadget and services company. it also lines up nokia's ceo stephen elop to return to microsoft and succeed steve ballmer who's stepping down. "he has mobile experience, ceo experience and worked at microsoft before and knows what to fix." initial reaction from consumers was favorable. "i think microsoft and nokia are great companies and can leverage their know-how and expertise." analysts say the aquisition reminds them of how apple is constructed. "they see how apple owns everything from soup to nuts. it's os to hardware." it has been a busy time for wireless mergers and aquisitions. take sprint's deal to buy us cellular. and verizon, the largest u-s

cellphone service provider with nearly a hundred million subscribers' purchase of british telecom vodafone's wireless business jointly owned by both companies. some consumers are wary of so much consolidation. "i hate to see them joining into one and giving us fewer choices." "with sprint, if you were a penny short, they disconnected your phone but with us cellular, if you were short, they'd give you an opportunity to pay your bill." for now, analysts believe there's enough players in the wireless marketplace to provide competitive pricing. "i don't think we're not at that point. there are still two dominent players in the smartphone industry." "as long as there are folks like samsung and apple and microsoft remain separate, competition will remain in place." as recently as 2007, nokia had 40-percent of the handset market. but it faltered in smartphones--even now has only 3-percent of the market. the offical launch of samsung's

first wearable device is today-- but images of its new galaxy gear watch appeared all over the internet yesterday. the device will reportedly have a touchscreen display and 4 megapixel camera. aimed at young trendsetters who are also health conscious -- the device is more about tracking foot steps and heart rate than telling time. images of many earlier samsung products have also been leaked on the internet. bank of america is selling its remaining stake in a china bank. b of a is the last u.s. bank to wind down a position in a chinese bank. several years ago wall street bankers wanted a part of the chinese banking system to get an edge in china. now there are questions about the asset quality of banks in china. the wall street journal reports bank of america will sell its entire stake in china construction bank for $1.5 billion dollars. economist slash playboy, nouriel roubini has been told to remove a hot tub from his new york city penthouse. roubini has gained international acclaim and the nickname "dr doom" for his

prediction of the financial crisis. he is also known for his wild parties on his roof top terrace. new york city officials say his hot tub is in violation of zoning laws and must be removed. the new york posts reports a $600 fine has been paid. a shift is happening in the auto market. more banks are giving loans to subprime borrowers, a sign that banks are loosening up on lending. reuters reports: 36% of loans went to borrowers with shaky credit in 2013, inching up from 34% last year. " lenders are alot more comfortable, taking that extra risk, lending to a riskier borrower because of the fact that the collateral is solid and its easily repossessed. i mean right now there are millions of people around the country living in houses they haven't made a payment on in years. and nobody can get them out. but if you miss more than one payment on the car. it won't be in the driveway in the morning." that was greg mcbride of bankrate dot com. many see this as a positive sign for automakers, consumers and especially banks, as customer demand for auto loans

provide banks with opportunities to increase assets, which have been limited following the recession. drivers in maine are paying more for gas than most of the nation. according to gas buddy the average gallon of unleaded in maine is $3.73. up 6 cents this week. and 12 cents per gallon more than the national average. " where maine is concerned i think one of the key issues right now is that you're looking at higher prices for brent crude oil. in the northeastern united states there's a much greater reliance on brent crude than there is on west texas crude, or other types of crude that could be available elsewhere." political tension in egypt and now syria are driving up oil prices. brent crude which is used on the east cost is trading around $115 per barrel while west texas crude futures are around $108 per barrel. the japanese government is reportedly poised to take control of the increasingly perilous situation at the hobbled fukushima nuclear power plant. the plant's private

operator -- tokyo electric power, admitted last month that hundreds of tons of contaminated water was flowing into the ocean from the plant every day. the government's plan, unveiled yesterday, proposes two possible solutions. one involves circling the plant with subterranean ice. the other calls for construction of a processing plant that will filter the contaminated water. sequester budget cuts are triggering layoffs of hundreds of scientists and medical researchers. cnn money reports their jobs are being cut as labs shut down at several universities. many of the researchers are study critical data in diseases such as cancer and hiv. the director of the national institutes of health predicted months ago sequester will spell the end of jobs for 20,000 researchers and lab technicians. jeff bezos is dropping hints about how he will run the washington post. the amazon founder continues a two day visit to the post's offices today. the ceo and founder of amazon plans to operate the

newspapers in a similar strategy used 18 years ago with his tech company. the strategy back then: put the customer first, invest, and be patient. bezos will financially support the post, as it attempts to revamp its revenue stream. bezos raised eyebrows when he paid 250 million dollars for the post last month. the deal is expected to close in october. it's a move amazon kindle users says should have been made ages ago -- allowing them to buy both a digital and print version of a book at the same time -- at a discount. enter kindle match books. amazon unveiled the new program yesterday. kindle users will be able to buy digital versions of books they purchased as far back as 1995. the kindle versions will also come at a steep discount from the typical digital price tag . the country's largest scented candle company is being sold for $1.7 billion. yankee candles will be acquired by the jarden corporation in a cash deal. the candle-maker has been on the block since early this year but potential buyers balked

at the $2 billion price tag. jarden is known for its mister coffee products and crock-pot slow cookers. the street likes the idea -- jarden shares closed yesterday up almost 10.5%. plans to build the trump national golf club appear to be off course for now in north carolina. this concept for the golf course appears at charlottesville tomorrow.dot com. according to the website county officials in albermarle determined donald trump's application to build the course is incompelte and not ready to process. the deadline is september 5th. trump officials did not offer a response. rosh hoshannah celebrations begin at sunset and with the jewish holiday coming early this year retailers are already wondering: what will happen with consumer spending with hanukkah falling "on" thanksgiving this year. the day is being dubbed by some: "thanksgivingukkah." reports say some retailers are worried it may weaken sales-- others are bracing for sales to spike ahead of black friday. an analyst on marketwatch.com says having

"two" black friday's this year may not be out of the question. still to come: how part time workers are becoming the back bone of small businesses... plus... why you shouldn't be too quick to toss out your losing lotto ticket... and, the little things millionaires do-- that you should do to.. find out after this in the know message.

who says corporate america is full of greed? the ceo of pc company lenovo is splitting his $3 and a quarter million dollar bonus with 10 thousand staff members in 20 countries. it breaks down to about 300 dollars a person, the ceo says in a memo he has a responsibility to ensure all employees understand the impact they have on building lenovo. one author is sharing her knowledge of how to become the next millionaire. heather wagenhals has written the book yes you can and is skyping with us this morning. thanks for coming on the show. > >thanks for having me. > >so what are the traits of millionaires? > >the first and foremost is that millionaires are consistent. and they do the same thing over and over where we can tend to fall off here and there. we hit the snooze bar when we say we want to be up at

5 or 6. we whack it just one more time hoping that we'll get that extra edge for the day when we're actually eroding our day because we're not being consistent with what we committed to do. > >consistency is important. what else? > >one of the things that they do is that they are always on time. they are punctual. or they arrive late or leave early because they know that the opportunities to network with other individuals that are motivated will be just like them and will be available at those times before and after events. another thing that millionaires like to do is they focus on their strengths. they know the difference betwen busy work and productive work and they focus on their talents and they delegate the rest. > >can anyone become a millionaire? > >absolutely. in my new book, cracking your money code, that will be coming out in the next month we talk specifically about that. we all have the same capacity. it's whether or not we're coding ourselves for success. if you want to code yourself, first you have to see what is working for you and do more of it. and find those

moments where you're not being consistent and you're not being punctual and ask yourself why? what am i doing to sabotage my own success? and understand that one of the things that millionaires do is they have a great ability to keep their passions in perspective. they're really excited about making money and creating new relationships and making a difference in the world. but they're more reserved when it comes to spending money and investing in riskier, unwise propositions. > >so you find it's true that wealthy people don't tend to spend a lot of money? > >absolutely. most people that are millionaires are pretty conservative. and they live beneath their means. while they may enjoy luxury brands, they're not putting it on plastic. they're paying for it because they know that they could be earning interest instead of paying it. > >thank you again and best of success to you. > >you too. to your prosperity. a new study finds many players throw out tickets if they don't win the jackpot....but uncollected winnings are really adding up. unclaimed lottery prizes in wisconsin alone total 50 million dollars dating back

to 1997. an illinois lottery representative tells us nearly a million and a half goes unclaimed per month in the land of lincoln. coming up.... the case for the contractor. why small businesses are having a hard time committing to full time employees. thats next. traders have alot on their plate to consider this week.. is the market setting up for freaky friday....thats later on in chart talk.

each month we take the temperature of the american small business, a huge influence on the economy. surepayroll samples it's 10's of thousands of clients to compile the small business scorecard. michael alter is the ceo and president of surepayroll. and michael, more and more i'm hearing it's becoming the story of the contractor and your

numbers point to that too. > >absolutely. we've really seen a shift over the last few years in the use of independent contractors by small businesses. and in fact at this point, one in five small business owners say if they hire another person it's likely to be a contractor. > >now is that because of the pressure being put on these businesses by the economy. they want to be sure they have flexibility. hire somebody...i want to be sure that i can fire them if my business doesn't pick up. > >clearly that is a key piece of it. but i think there's been a fundamental shift in how small businesses use independent contractors. the same way you think about an accountant or lawyer. i can use the same for someone that helps me with my technology, for somebody that might do advertising or pr for me. the technology that's out there today allows me to find and work with those people anywhere in the world very cost effectively. > >so this is not necessarily all related to the economy right now. this could be a real shift. > >it's a real shift in efficiency that is somewhat driven by the economy. and what it's allowing small business

owners to do is to become a little more profitable and more stable. the challenge is they aren't hiring as many full time workers which reduces the overall growth in our economy because those folks don't have money on main street. > >give me some of the other numbers you looked at with hiring and payroll. > >the hiring number we saw fall 0.2%. and the actual number of the average paycheck rose 0.2%. which really means that small business owners are doing more with their existing workforce. they're paying a little bit more instead of adding that next employee. > >again, they're holding back, waiting to see and its the contractors you see that many of them will be hiring when they do hire someone. you also look at optimism. i thought this was interesting compared to where things were a year ago. it's sort of holding steady in the low 70s. > >right. so 3 in 4 small business owners are optimistic about the future. that is in contrast to almost 1 in 2 or even less than that at this same point last year. and a lot of that again has to do with the stability in small businesses. they're seeing a bit of revenue growth. they've been able to be more productive so they don't need to hire more workers to handle that revenue. which allows them to make a little more money, maybe strengthen there cash flows, cash reserves

a little bit---feel a bit more comfortable about the future. > >michael alter of surepayroll we'll see you next month. thank so much. > >thanks for having me. bill the conversation doesn't stop there about the labor market. up next-- why the market has a case of the jitters ahead of the jobs numbers out friday. chart talk is next.

traders are feeling unsettled about this market. joining us now is james remali of keeneonthemarket.com. i'm sure a lot of this has to do with syria but there's some other issues lurking out there such as the jobs number that comes out

on friday. what are you seeing james? > >right, so the jobs number comes out on friday and it looked like we were gonna have an all in long week here when the trading week started on tuesday with s &p futures up over 16 points. then they gave back all of those gains and then rallied into the close--a very, very choppy session. so there definitely is some uncertainty out there. a lot of it has to do with syria like you said, but a lot of it has to do with the jons number here and how that's going to play into the possibility of the fed taper sooner than the market expects. we didn't really see a bid up in the vix as the market sold off. the vix is my first warning that something is going on here. and we didn't see that so i really think that the move through friday that the options market is implying which is around 20 pts---which is on the high side. the average is around 17-20 and even with the short week they're implying 20 pts. i think that move is overestimated here and i really think we're going to see a pretty muted reaction on the jobs number on friday. > >is this becoming a great market for traders?

> >absolutely. volatility is back. tuesday was a perfect example of this. we saw huge swings in the s &p and in single stocks. volatility creates opportunities for traders like myself for both longs and shorts. going through this week here as far as the s &p goes. i do think i'll be trying to play this market flat. i don't think we're going to get a huge reaction on the number. but after that once we get some more fed info about the taper i think it's gonna be some really good trading opportunities. > >james, enjoy your trading day. thank you. > >thank you. that's a wrap for today... coming up tomorrow in movies & money- the butler and the oprah effect. how oprah's golden touch is playing a role in the latest hollywood hit. we hope you will join us for that on thursday. from all of us at first business.. have a great day!

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