adam shapiro on the floor of nyse for us following all of this morning, adam. >> not showing signs of slowing down. we're heading towards 4:00. look at some in correction territory may reverse that. apple leading the dow. it is up tremendously. caterpillar is up today. part of that has to do with expected stimulus coming out of china, ashley. because their economy seems to be in some problems over there. boeing up today. intel up today. even exxonmobil is up today. part of that is rebound in oil prices. want to point out real quick, alcoa is not dow component. they're up 6%. part of that has to do with buffett and berkshire hathaway is buying. need aluminum to make metal parts that go into all the things they are making. one stock to watch. equinox, pharmaceuticals. you hear about them? they announced friday they had a bladder drug that they're developing decreasing pain in patients with problems. that stock is up tremendously. explain this one to me, lucy. up 132% today. $55 and change and do you smell a takeover. it is up almost 1500%. ashley: trying to get lucy on the phone trying

deirdre: all right, adam shapiro, thank you so much. from stocks that were stand out fallers as you heard adam talk about to my colleague gerri willis what individual investors need to know. gerri, as a first and foremost observation, money market funds have taken in 18 billion dollars, b as in boy, over the past few weeks as people begin to want liquidity, liquidity, liquidity, right? >> interesting point, what we see when we have major market moves is people look for safety. treasuries, money market funds to move and do whatever they want whenever they want. let me put this in perspective. 3% today on the dow, what you've been talking about. look back to 2008, the start of the great recession. what happened then? stocks were off 50% during that time. what did individual investors do? moved half percent of the stock for that year. did not move in great numbers because they're in for the long term. these are iras, 401(k)s, people don't want to move dramatically, they want to be in for a while. deirdre: and to your point, thinking of blac

fox business's adam shapiro. so adam, we know dow, that key index, 7% from the may peak. what did floor traders tell you about the selloff? >> a lot had to do with negative sentiment from oil and energy. also global selloff starting in china. the chinese economy is in the doldrums. we can talk about federal reserve. people were nervous. buyers were not present. the dow down 358 points. this was the lowest close, we've seen below 17,000 first time since october 30th of 2014. s&p 500, lowest close since february 2nd. we were the, low for the s&p 500 was 2040 as of march 11th this is low we haven't seen since like i said, february 2nd. the nasdaq down 141 points, off almost 3% today. a lot of it had to do with stocks you think will be strong but aren't. take a look what happened to alibaba. they hit a new low of $70.03. they're down 3.8%. closed at $70.32. not to be outdone by twitter. twitter remember ipod, $26 in november of 2013 that was offering price of the guess what are they closed today? 2bucks. at one point they broke below that, $25.92. so twitter is down almost 28

nicole: adam shapiro will be giving us all the updates.secretary jack treasury secretary jack lew says the federal government won't bail out the island and this is not greece in the eurozone. it's a different situation. lauren: a territory with the death of new york and the population of connecticut. dagen: and take responsibility for it. watching the price of oil after it tumbled 4% in new york yesterday to $45 a barrel, biggest drop in a month down to the lowest level we've seen since march. oil prices edging upside yet the moment. some analysts warning it is not over due in part to record production in the u.s. and also signs on the demand side of the global economy might not go fast enough to absorb the oil out there. sku caught up in global markets. in europe we've had mixed markets so far still the case. gains in england and germany. u.s. stock market futures look like this. a little bit of losses but barely so stability after yesterday's selloff. an asian market finishing mixed with the details we the details because of business rep

fox business's adam shapiro. so adam, we know dow, that key index, 7% from the may peak.tell you about the selloff? >> a lot had to do with negative

fox business correspondent adam shapiro standing by. reaction to the selloff today, adam?off. you're talking to ben willis at the top of the hour, cheryl. the s&p is hitting a low it hasn't seen since march of this year, march 11th. we closed at 2040. we're there again. this is not good news. some stocks selling off today, alibaba hit a new all-time low, $70.03. it is down 33%, 32% year-to-date. twitter hit a new low. this is below its ipo price. offering price of 26 bucks. it hit $25.92. a lot of social media was selling off. can't ignore twitter is down tremendously since everyone went ga today -- gaga with them in september of 2013. not good news and as ben was telling you at top of the hour, buyers are not here today. they're taking a vacation. >> i don't know, adam. ben and i disagree about that one. adam shapiro thank you very much. obviously you're standing by as the bells about to ring on wall street. we have a few minutes to go before the close, about seven minutes. the dow is down. we're mentioning down -- 2% and hitting session lows. the numbers settle even afte

i want to head down to adam shapiro on the floor as we look at the market really nowhere to hide adamems as though consumer discretionary is taking it on the chin. >> all of that is taking on the chin but when you talk about the dow we set a new interday low just about two minutes ago, and we still have a little over an hour left in the trading session. but as you said people are worried that vicks is up. quite a bit almost like 16% today. you take a look at the jump in the price of gold that is up over $24 that is biggest jump per ounce in almost five weeks an part of what you hear investors saying it is slowdown happening in china but now it is spreading as people want to get their money off the table. and just park that money wait until after a september you were talking just a minute ago trish about the federal reserve. what are they going to do an will they raise rates? if we're in the middle of an economic slowdown that could put the united states they may want to hold off on that some of our analysts have been saying on fox business network. trish. >> a.d. a dam shapiro thank y

adam shapiro thank you very much. adam shapiro with us there from the floor of the new york stock exchange, on the dow breaking its seven-session losing streak. the -- with more on google and reorganization, the tech editor at mashable. pete, you were reading this report right along with me here. >> yes. >> essentially seems google is synonymous with internet product. >> right. deirdre: it will have its own business head and we understand google will be called alphabet. >> i'm kind of interested in this as a branding exercise i think. like the google brand, some of their crazier ventures has not always served the company that well. think about google glass or google wing, sometimes it might be. gives impression of people like a bunch of engineers don't know what they're doing or not knowing anything about business, trying crazy things. that served to undermine them in the past that sort of fixes that. deirdre: for public investors how could they be working on that and taking my search seriously. this seems to clean up

my colleague, adam shapiro has been following the action all day. he is with me now. which stocks logged the biggest losses? >> yeah. who got by the hardest by stock nato? and that would be -- are you ready for this? jp morgan chase, that was the big losers percent-wise down 5.2% and they hit a new 52-week low, now, of course they did come up off of that to end the day. and they were the losers today. and united health care, cisco was also down today about 4.8%, that's call it 5. and then let's talk about oil. you had a terrific interview about oil and what's going on with global economic growth. well, chevron and exxon mobile both got hit hard by what's going on in oil. and first in the case of chevron, they had a new 52-week low, $69.58, exxon mobile, they also had a new 52-week low, $66.55, if you want to call them winners, there were some winners if you look at it this way. ford motor company, at one point they had a 52-week low of $10.44, but they shot up to 26% higher than that. so this was a rough day for a lot of stocks but most of them that hit the 52-week low

adam shapiro is there with green on the screen

adam shapiro with me from the floor of new york stock exchange. adam, i'm looking disney, viacom, cbs, 21st century fox, the parent of this panel, all declined. are they related to what viacom said about ad revenue or something else going on? >> it comes down to revenue. if you're not hitting your revenue numbers you saw results we saw today. the iceberg to which the media titanic has struck is cord cutting. people can watch television without having to bundle everything through cable. a lot of revenue comes from cable. it was disney that ignited this iceberg of titanic proportions you might say with their earnings report. their revenue was up. their earnings were up but their outlook was a problem. and they warned about the fact that people are cutting from espn. that subscribers growth is now going negative. if you see something as popular as espn you have to see what is happening. viacom is having trouble. jon stewart calling it quit at daily show. people are worried about viacom revenue picture. hit new 52-week low. shares were down 14% today.

adam shapiro, you're standing outside. adam, who got booed the most? >> truck went buy, dagen. couldn't hear the question you were asking me. there is really important, i one, never want to be in your courtroom. god help miss kardashian. with regards to tom brady what happens today, they're in chambers with the judge. they're trying to work out a settlement. this is a civil case. the judge is trying to get them towards settlement. let's do it step by step. first we had arrivals this morning this is notorious for roger goodell, as he got out of the suv, there were football fans in the video calling him liar, liar. they were booing him. because he as commissioner acted to suspend mr. brady under the authority as commissioner to protect the integrity of game of football. mr. brady arrived in his suv, very quiet, somber, walked into the courthouse. they went into a private meeting in chambers with the judge to try to work out some kind of a settlement, to lay the groundwork. they all wound up inside of courtroom. let me show you sketches inside of the courtroom. here the judge was

that depends on your age according to adam shapiro with fox business. >> if you are in your 40s knows what, sid this outcome we should market. in your 30s you are lucky you will be buying in some blows as opposed to what was higher. in your 50s you will ride this out. >> if you are 60 or older, you should be speaking with a financial planner. >> if you haven't had a discussion and you are 60 or over it is time to have the discussion because you are approaching retirement and you don't want to have the majority of your retirement portfolio in stocks. it is that simple. >> a drop in crude oil prices is also a factor which could mean a further drop for the s&p 500 and many energy company stocks but the current situation isn't all bad news for consumers. >> the price of gasoline is going to come down. $2 a gallon by christmas probably and a big drop coming in three weeks. >> take a look at the numbers yesterday. you can see how much this changed in the ready for the dow, the nasdaq and the s&p, but we are hearing things are looking good for future so that is a good sign. ben: people start

adam shapiro will be reporting from san juan and get you an inside look.ve you confidence dates on what's going on there. now you talk about default. prioritize what they pay and get it over there. a lot of people not on the job. one of the major problems. transfer them courage to go to school because they can't get jobs. dagen: europe now stocks have a mixed picture of the ftse 100 ever so slightly. here in the u.s. can make it enough to that of a rocky start. to begin august and on this monday you have losses across the board. 16-point loss they are coming off a winning week in winning month. asian markets falling overnight. details from business reporter tracey chang hua's life beijing. reporter: asian markets seem asian markets seem to see a threat today. then make a composite fell more than 1% after the country's newest manufacturer came in lower than market expectations showing the number attaching a two-year low. the immense weakness spilled over to hong kong for the hang seng down 1% as well as investors get worried about the fate of the chinese ec

joining me now is adam shapiro from fox business network. it is a business day for you. >> it is a busy day. down 1,085 at 9:05, five minutes after trading and then we recovered. what do you do when your 401(k) is down 10% and on a day like this and the very simple sanes nothing. if you are -- >> don't panic. >> don't panic and ignore the news reports and literally if you're 0 years old, boy, are you lucky because you're going to, if you're funding a 401(k), you're going to be buying in at cheaper levels. if you're 40 or 50, you have plenty of time to recover from a downturn in the market. >> and what if you're older than that and you don't have that time to play with it. >> as you approach 60 have a discussion with your financial adviser and that can either be your wife or husband or actual financial adviser about minimizing your exposure to stocks. when you're in 60 and 60 and over you should not have the majority of money tied up in stocks precisely because bego through these swings and you don't want to be this exposed to them. >> that's

adam shapiro's in pebble beach, california, surrounded by what, adam, catalytic converters in very fancyughter] >> reporter: we are talking about some of the best cars in the world. and when you talk about the best, the pinnacle of luxury and superb quality is rolls royce. e want you to meet in this fox exclusive the ceo. he's joining us now to talk about not only the tremendous, what, four, five years of record sales, but you've just delivered this car behind us. this is the phantom extended wheel base. it is a stunning automobile. tell me about this. >> yeah, right. good morning, first. [laughter] we have delivered that beautiful car this morning to a customer. >> reporter: can you show me -- >> i can show you a little bit. from the interior, it's a truly customer-driven color, so that's his own special color, not only the exterior, but also the interior. so truly built for him. >> reporter: we should point out that every rolls royce is hand crafted, you don't make them, it's commissioned. and the artist determines what different, unique qualities will be included. >> exactly. you are

adam shapiro's life in san juan, puerto rico, breaking news, adam. >> liz, when you ask that questionhe millions of americans who might knowingly or unknowingly hold puerto rican bonds, this is the first of what some people believe is a strategically timed default. that official statement, they go on to say that this was a decision that reflects the serious concerns about the commonwealth easley quiddity in combination with the balance of obligation to our creditors and the equally-important obligations to the people of puerto rico to insure the essential services they deserve are maintained. in english, they are decideing what they can afford to pay. so bonds will be paid in the future, the question is which bonds. and they also intend to maintain services for the citizens of puerto rico. we have been speaking with different people, we just finished an interview with a member of the house of representatives, mr. ramos, who was saying there has on the a restructuring of wept -- has to be a restructuring of debt, and they will have a liquidity crunch come november 1st. they're going to

call it insider trading with adam shapiro down at new york stock exchange following that story. hey, adam. >> two words that start with c what happened here. hoots spa and criminal. these were not only able to steal information from business newswires, market wire out of toronto. you have pr newswire in new york and business wire in san francisco but they were then over windows sometimes would be three hours, sometimes be three days, use that information on earnings reports to trade to their advantage. for instance, in 2011, according to the inindictments they made $600,000 trading on non-public information with caterpillar when caterpillar was going to report profits up 27%. in 2013 they made about $1.4 million ought of align technology when it was reporting profits. who are these nine people? two of them are computer hackers in ukraine. they're ukrainian. six are stock traders here in the united states. one is a real estate developer here in the united states. there are you havely, when you add them all together 32 people charged by sec singsly with insider trading. charges, se

our very own adam shapiro was there. he joins us with details. adam? >> reporter: that's right.all of five minutes for judge richard berman to say there is no settlement. he is urging both sides to reach a settlement. he said he will issue his decision on tuesday or wednesday. tomorrow or wednesday. the goal is to have this decision out by friday the 4th. because tom brady would like to play football on september 10th, thursday the season opener, pittsburgh steelers versus patriots. what happens at this point? well, first we have to get a decision. both sides can appeal. it isn't guarranty no matter what the out come is that brady will get to play or not. we'll see what happens with that there was big effort to get a settlement and avoid the judge getting involved. here's what union rep had to say about it. >> we tried our best to reach a settlement which we did not reach but i think it, for us it reinforces the desire and need for an independent arbitrator in these matters of personal conduct but we understand tom's position, and i think the pros he is will work itself out. >>

adam shapiro, again, we're watching a market that is up about 220 points right now.e're also talking about a lot of politics. you've got six months of -- well, outrage from hillary clinton and now suddenly she changes her tone. what's going on? why is hillary clinton now backpedaling on her personal e-mail server? we'll explain technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. trish: after nearly six months of denials and outrage and a recent attempt at a stand-up comedy routine -- >> by the way, you may have seen that i recently launched a snapchat account. [cheers and applause] >> i love it. i love it. those messages disappear all by themselves. [laughter] . trish: she may want

fox business's adam shapiro is in san juan. how are they handling the default right now? how are they handling it? >> reporter: people in puerto rico, business as usual. the party goes on at resorts. life is difficult for a lot of people especially when you get away from the coast. unemployment is very high. they're in 10th year of recession which crippled economist. hundreds of thousands of people have left. we spoke to a member of the puerto rican house of representatives, they do intend to pay the debts. they just won't pay all of them. but his exact words were, we'll not weasel out. they want to restructure. they will pay the debts, not all of them. we spoke with a respected lawyer, a man named john mudd, a expert here in puerto rico in federal law and common law. the government he says is not only misleading its own people and misleading investors. they have the money to make the payments. they don't want to lose their own political jobs. listen to what he told me. >> if you look at budget, there is $20 billion in the budget. there is money. government decided better

there he is leaving the court in manhattan, and adam shapiro's been at the court the talk about this. guess it'll take a while longer until we know what happens with mr. brady, right, adam? >> right. and even once we know what's going to happen, it's still not a final decision. let's show tom brady leaving court again, he had no comment. inside the courtroom things were very fast morning. five minutes, tops. judge richard berman said there has been no settlement and that he will make a decision by tuesday or wednesday. now, remember, he's not deciding whether brady did what he's accused of doing and knowing and taking part in the de-flategate. all he's being asked to decide is if commissioner goodell overstepped his bounds as defined in the collective bargaining agreement, the contract with the players' union, if goodell overstepped his authority and that needs to be set aside, the four-game suspension. if he upholds the suspension, well, it's expected that the players' association or brady could appeal to a higher court. so as for being able to play on september 10th, we still don't

prices, adam shapiro joins us now with the story of the low gas prices.s good to see you and that video of that man celebrating, my producer off camera here is doing the jig as i'm talking to you. but here's the deal. gas prices in new jersey are as you can see $1.89 a gallon, if you pay credit, $1.97. and expected to hit $2.15 nationwide by december. last year it was $3 a gallon. right now the price is 2.53, it was 3.43. and walmart and target. why will they benefit from the drop in the price of gasoline? i will now answer the question. here's it's simple. consumers are going to put 60 to $80 billion back in their pockets in 2015. because gas prices have actually been coming down all year long. that extra money is going to show up in aspect according to county and company at restaurants and retail outlets like walmart and target. in fact, they expect in the fourth quarter that consumers will spend an extra 1.8 to $2.4 billion to closing because of cheap gas. so to the jig video, dancing the jig, having a great time. celebrating. $2 and less gasoline in n

trish: thank you very much, adam shapiro there.e fight for stricter voting laws, it is being struck down, everyone in texas. really? is it that difficult to obtain an i.d. to vote in this country? the i.d. is for everything else, right? you can't even get into a building in new york city without some kind of i.d. we're going to debate this with a top democratic strategist. >>> plus legionnaires' is proving deadly, already claiming the lives of eight people here in new york city. what are the risk is. are we doing anything to stop this? stay with my. i'm back in two. ♪ technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. >> if you send more money t

adam shapiro has a look at what's ahead for the markets today. >> reporter: a rocky start to the week for stocks around the world. all eyesin' u.s. markets after last week's heavy selling. the dow jones industrial average fell more than 1,000 points in the first 15 minutes of trading on monday. on friday, the s&p 500 and nasdaq suffered losses and they fell at the start of trading on monday as well. >> this could end later today. this could end tomorrow. you have to keep your head at a time like this. as you know, these stocks, they move around all over the place. >> , blame china. it's economic troubles are causing problems. the main index fell 8.5% 0 on monday. it's the biggest drop since february of 2007. >> they provide half of the global economic growth. that's what they've been doing for years now. now that is in question and now we're seeing the reaction in markets. >> reporter: a drop in crude oil prices is also a factor the markets are digesting. risking a further drop for the s&p 500 home to many energy company stocks. but the current situation isn't all bad news for consume

okay adam shapiro is breaking down averages and tell us what is the most.y is weak today, on fallen oil prices. technology is also another incredibly weak sector. >> all of us are taking hits today even if you don't own individual stocks. because they own some of these stock. let's look at the big losers on the dow as of right now. apple is down, it is biggest leading the dow down that as far as the set losses it is down .57%. microsoft down 6.6%. nike is down as well 4.5 a. goldman sachs trading down today an chevron is trading down today. we were talking earlier about exxonmobil with a 52-week low below 42 a barrel. there is one stock that despite it all a seem to be doing okay. i want to make sure they're still trading in positive territory, and yes they are. hewlett-packard is still in positive territory they did a new low. 52 week low today but they have shot back up. better than expected earnings report and reaffirmed that they're feeling positive about this positive. meg will split into two companies and they see some optimism for seconds largest mak

that depends on your age according to adam shapiro with fox business. >> if you're in your 40s, you shouldn't even be watching the stock market. if you're in your 30s, boy, are you lucky you're going to be buying in at lows as opposed to when it was higher. if you're in your 50s, you're going to ride this out. shapiro says you should be planner. >> if you haven't had that discussion, it's time, because you're approaching retirement, and you don't want to have the majority of your retirement portfolio in stock. it's that simple. >> a drop in crude oil prices is also a factor which could mean a further drop for the s&p 500, stocks. but the current situation isn't all bad news for consumers. >> the price of gasoline is going to come way, way down. >> how low will it go? >> $2 a gallon by christmas, and a big drop coming in about three weeks. >> so the futures are ripping higher. the dow and the s&p, so that is a good sign as we head into the market opening in just a couple of hours. you can bet all eyes will be on wall street. greg and rosanna, back upstairs to you. >> i've always wongderred abo

adam shapiro, where is he?tails fly from san juan and how to get the assignment next. ♪ now there's a smart new way to protect and manage your home. at&t digital life home security and automation. digital life gives you round-the-clock monitored home security for your family's peace of mind... plus with the easy-to-use app, you can access your system remotely from your smartphone, tablet or pc... ...and it's easy to set up text or email alerts so you'll know right away if something happens at home. call now to get started with at&t digital life smart security for as low as $39.99 a month. but digital life isn't just about security. it's about control too. with home automation options... ...you can keep an eye on your home while you're away... ...lock and unlock doors remotely or even control your garage door... ...and help save energy with thermostat and lighting controls. with digital life, you're in control. so call now to get started with at&t digital life smart security for as low as $39.99 a month. don't w

joining me now is adam shapiro from fox business network.is a business day for you. >> it is a busy day. down 1,085 at

. >> as gas prices continue to fall adam shapiro heads to new jersey where one gas station is retailing gasoline for an especially low price. >> the price of oil went up, but the price of gas has fallen. it is part of the trend all year long. you can see in ramsey, ramsey,ramsey, new jersey. if you fill up with cash a dollar 89 a gallon. nationwide analysts are saying it is costing people on average $2.53 a gallon for as a year ago was $3 a gallon. by decemberby december of this year one group of analysts say the average cost will be $2.15 nationwide whereas a year ago it was over $3. there is definitely a depreciation in the price of gas which spells good news for consumers. this drop is putting anywhere from 60 to $80 billion in 2015 back into the pockets of consumers. and they will spend that money going to restaurants, at retail places like target and walmart. in the words of elwood blues , don't fail me now, now,now, the kind of accelerator for the economy, lower gas prices that could boost stocks. keep an eye on target and walmart. back to you. >> thank you very much. oil did move

adam shapiro is here to break it down for us. adam? the things at stake is ability for one company to hire another company to perform work when they don't need full-time employees. let's go through some. numbers. the international franchise association is saying this is political decision. three democrats, versus two republicans on nlrb, allowing rules to change on what is referred to as joint employment. we go by the numbers. 780,000 franchise businesses in the united states affected. 300 different business categories. think of mcdonald's. that is one of the business categories, burger king. legal franchisees could be affected by this. merry maids, that is franchise operation. they could be affected. $890 billion worth of economic output at stake. essentially what the nlrb has done is cleared the way for unions to drag, this is the hypothetical, just so we can understand, mcdonald's is the brand but the mcdonald's across the street isn't owned by the corporate mcdonald's. it is owned by man or woman who owns the franchise. so if a uni

joining me chad morganlander and fox business's adam shapiro.le's expectations that the fed might move come september? >> i think that is part of it but not entirely it. expectations in the futures market they wilt go in september. the generally speaking fed will

adam shapiro in the newsroom. >>> next, we head to the cme to check on oil and gasoline prices and goodews out of indiana. stay with us. technology empowers us to achieve more. it pushes us to go further. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. . dagen: not everything is up today. metal prices falling as stocks rally. gold and silver both down about 1, 1.5%. you can see that glittering gold there. silver off .75%. below the $40 a barrel mark, but a rebound we have. jeff flock at the cme with more, hey, jeff. >> big gains but stuck where we are, between $1 and $1.25. i don't think we're going to get above 40 today. good news on gas prices, want to get to that in a second. the reason there is good news on gas prices, the refinery in whiting, that bp refinery

adam shapiro is following the story. am. >> mary jo white was talking about 32 individuals on civil side. the criminal issue, that is the press conference she was speaking. we heard from the u.s. attorneys in newark and eastern district of new york but let's get to the nuts and bolts what went on here. on the criminal side, nine people were charged. two of them ukrainian hackers according to authorities. six stock traders and one real estate developer. they're charged with a $30 million scheme which they were able to hack into computer systems of newswire services, that report things like earnings reports. those companies being market trend out of toronto, pr newswire, out of new york and business wire in san francisco. those companies, by the way, were not charged. they appear to be victims of this hacking. now prosecutors allege this all started back in 2010. and that they were charges these peoples with computer fraud, conspiracy, to commit money laundering. listen to what mary jo white had to say. >> hacking becomes m

fox business correspondent adam shapiro, this is a $200,000 stock because it's never split, but this'll to watch. >> especially when you consider that berkshire hathaway has invested, what, $6 billion into burlington northern at a time when a lot of regards are seeing their shipments, the volume actually fall. but let's talk about burlington northern, expecting earnings per share about $3,038 on revenue of $a 52.9 billion in the second quarter. burlington accounts for about one-tenth of berkshire hathaway revenues, so he calls it one of his powerhouse five non-insurance companies. listen, liz, you're bffs with warn buffett. you know about geico, premiums up 17%. cheap gas, more people driving, guess what? more accidents. we're going to have the earnings report sometime after the closing bell. liz: yeah. the stock over the past five years up 77% but down 5% -- >> 5%. liz: -- year to date, right. >> i don't think people who own that stock whether it's class a or b are upset. liz: they're in for the long term. fox business will get you those numbers. >>> u.s. employers added 215,000 jobs i

latest from shape happen who is right -- adam shapiro, outside of the courthouse in lower manhattan ofdam. >> that's right. we're waiting for tom brady and lawyers for mr. brady as well as players association, the union and nfl leave. you can see a live shot from another camera. there is a mob of reporters and football fans who want to see mr. brady come out. whether they reach ad set meant, no word yet. this is all about a settlement conference. this morning when they went in, a bit of a different story. tom brady went in. quiet, went in, stoically, no emotion. but when roger goodell went in they were yelling liar and booing the commissioner because he suspended brady for four games. this is essentially a civil case but it was about, you guys have to settle. he is trying to make them to make their own decision, settle this case as opposed to a four-game suspension, come up with some other compromise. he had pointed questions that showed weakness in both sides arguments. in other words the judge asked the lawyer for the nfl about the authority for commissioner to do with the suspension

joining us right now former nfl player jackson, fox sports one and adam shapiro who is outside o the se for us. adam, are we getting any indication here on how the judge might actually rule in about 24 hours? >> no indication. but he was very hard in the previous two settlement conferences during the public hearing portion he was very hard on the nfl. now, the only issue he has to determine is whether roger goodell overstepped his authority as commissioner under the the guidelines of the collective barren gaing agreement, the contract with the players union if the judge says yes goodell did violate terms of the cba then he could throw out the four game suspension in which case nfl could appeal. on the other hand there's a supreme court ruling which says we saw brady leave court earlier today in court for five minutes, if he rule it is in favor of the nfl, it is because there was a previous supreme court ruling which says even when the evidence has been mistaken, and arbitrator's decision has to be followed. we got one statement from jay who is a member of the nfl players association e

joining me now from pebble beach, fox business adam shapiro. >> well, we decided we would show you aboute collectibles and you can't do that without talking about lamborghini, and i want you to meet the ceo of lamborghini, steven, he joins us now live on fox business for an exclusively interview about a car that has just been introduced, which is almost sold out. congratulations, it is selling -- only 500 of these and they're selling for over $530,000. why are these such hot sellers? what's attracting the buyer? >> i think it's the car itself. it's something that is unique, also in the world of super cars. and people always want something which is very limited. and this is the light version with more horsepower with a better aerodynamics. >> this is the aventador, and the coupe sold out, you already have orders to delivery 300 cars and now you're taking orders on this but selling out. how does someone get in to place their order with only a few left? >> last year we had a record year with 2,500 cars. this year thanks to the u.s., which is by far our biggest market, we will do even better

adam shapiro of fox business calls it an overreaction. >> reporter: if you live and breathe these markets on a daily basis, you're giving yourself anxiety you need not give yourself. >> within hours, the worst stock drop since 2008 roared back. but the collapse in chinese stocks will be a lasting concern. now the world's second largest economy, many u.s. companies, including apple and gm, do a lot of business in china. if their consumers hit hard times, they'll stop buying u.s. products. investors seem to be listening to those who say we are fine, from the ceo of apple to the white house spokesman. >> whether job creation or the unemployment rate or broader measures of economic growth, people can feel confident. >> reporter: this is what you need to know. it's not about how much you have to invest but where you are in life. even if you don't invest, you should be paying attention to where your 401(k) or pension is going. if you're this your 30s or 40s, you can take chances, meaning invest. if you're in 50s, you can ride it out. soon after your retirement should be less reliant on stocks.

from the audience's right, adam shapiro, c.e.o. of adam shapiro, ublic relations. pat mcgrath, former national correspondent for wttg-tv. and a former national press club oard member. bill lovelace, energy columnist for "usa today." dr. karen desalvo, acting assistant secretary for health in the u.s. department of health and human services and a former health commissioner for the city f new orleans. she is a guest of our speaker. marilyn g. wax, senior business editor for national public radio and a national prep club board member. donna brazyll, a political strategist and syndicated columnist, a guest of the speaker and a new orleans native, and she served on the louisiana recovery authority. tommy burr, a reporter for the salt lake tribune and vice president of the national press club. skipping over our speaker for a moment, rod cuke row, a reporter with energy wire and a member of the club speakers committee who organized today's lunch. we thank you, rod. i also want to mention that rod kukrow organized the national press club's katrina rebuilding trip in 2008.

from the audience's right, adam shapiro, ceo of adam shapiro public relations. mcgrath, former national correspondent for wttg-tv and a former national press club board member. . . >> and she served on the louisiana recovery authority. a reporter for the salt lake tribune and vice president of the national press club. skipping over our speaker for a moment. we have ron who is a reporter with energy wire who is the club speaker committee that organized today's lunch and we thank you. and washington editor and a new orleans native, peter harden is, the founder and publisher emeritus of governing magazine and a member of the press freedom committee. [applause] and i also want to welcome our public radio audiences. you can follow today's launch on twitter and use the hash tag #npclive. hurricane katrina was the costliest natural disaster in the history of the united states. it forced the evacuation of nearly 90% of the residents of new orleans and nearly 1500 of them lost their lives and 15 feet of water covered many neighborhoods. five years later the city's recove

here to sort it out for us, boy, is that quite a task, adam shapiro with his eyes on the big movers of the day. hey, adam. >> some of the biggest losers, talk about names like jpmorgan chase, down 5%, hitting new 52-week low. they hit that at $50.07. cisco system down 4.8%. they did not hit a 52-week low. they will get back up there today. exxonmobil, drop in price of oil connell really hit them hard, down 4.7%. they hit a new 52-week low. $66.55 and change. chevron also down today, a new 52-week low. $69.58. men lastly go back and forth with these two, united healthcare was down, what very got here? they were down 5% and mcdonald's, mcdonald's hit a 52-week low, $87.50. they closed above it. it was not a good day for just about all of them. connell: man, thank you, adam. oil settling below 39 bucks a barrel. first time we've seen that since 2009 as the price fell. so the oil price declining that much. that is another big part of the headlines today. mark sebastian is with us from the cme. we'll get mark's perspective. 3822, man, what a headline, down 5 1/2%. your thoughts on sub-$40 o

adam shapiro and charlie gasparino is with us. we have big crew as we watch a rally, 240 points. liz ann, a lot of people are nervous. should they be? >> sure. when you see market action like this is very disconcerting investors. i'm not sure people should play short-term trading game. extremes of today don't tell the fundamental story and extremes today either. we have macro forces that have been with us for some time. what happened you saw a lot of internal deterioration in the market. you had breadth deteriorating. a lot of money gone into smaller and smaller asset classes. you're seeing some unwinding of that. it is tough environment. trish: ashley webster on floor of stock exchange. what are traders telling you whether or not they think worst is behind us? can we all breathe a sigh of relief. saying the market is paring some losses from yesterday? >> that is the biggs question. certainly a lot quieter than it was yesterday. yes we're rallying 250 points. it doesn't really feel like it. not very reassured some traders are saying. this rally is somewhat unconvincing. futures a

adam shapiro is with us here. why are so many people flying? >> it's cheap fares.and not a pleasant experience fighting the lines. but cheaper fares. i was online looking at american, delta. they're offering deals, just as an example, miami to new york round trip 195 bucks. things are getting competitive. they've got overcapacity with the sits but they're trying to get people to sit on those planes. 14.2 million just over the labor day holiday. 222 million for the entire summer. that's a record number of us who are flying. take a look at the crowds you'll see at the airports because this will not change any time soon. the airlines are able to drop some of their fares because fuel prices have come down, 34% for them. shep, they're posting some pretty good healthy profits. $8.7 billion for the first half of the year. that's double what it was last year. whether it continues is another issue, but get your tickets. >> so it's great for them. >> good for them right now. they're not on baltic air, so they're not enjoying adult beverages. >> how about for us? >> for us a

adam shapiro, of fox business, says answer one who was swet saturdaying this out worried needlessly. market. if you live and breath the markets on a daily basis. are giving yourself anxiety. you need not fife yourself. >> the sell-off was reaction to a potential global economic slowdown starting with china which he is the world's second largest economy. many u.s. companies like apple and dm do a huge a. business in china. at the end of the day. what does this all mean for you? well, if you have a pension oar 401(k), your age determines if you should be concerned about the market plunge. >> well, if you were the 40's. no sweat. you sit this out. you should not be watching the stock market. if you are in the 30's. are lucky you are buying. it is low as opposed to higher. in the 50's, you will be table to ride this out. reporter: however, if you are 60 or older, the retirement should be less reliant on stocks and should be talking to the financial manager about that. if you have noted that discussion, you are 60 or over, it is time to that that discussion, you are approaching retirement

point close in the history of the market, and it is fox's top stepand the fox business network, adam shapiro is live from fox business network's headquarters. nobody has seen anything like this. what happened with the rebound and what is happening now? >> we are as we go into the last hour of trading accelerating back down, and the dow is down 645 points. part of what is going on is the people who made money during the rebound are now getting out, the day traders. the question is what do people with 401(k)s and mule to all fund -- mutual funds do. you do nothing. you ride this out, if you're under 60. the best thing to do is -- it is panic are. when you see this volatility and huge volumes on the exchange today you ride this out and you do nothing or you'll get burned. >> i know a lot of it was computer trading. this thing that happens the last two hours of the session, that's the most important. >> it is. on friday we were muddling along, down, and then picked up that last 45 minutes of trading on friday sent us right over the top and we were down 55. then today you could see that again. di

live from san juan, fox business correspondent adam shapiro has been hitting the ground there and taubinglse who matters. adam? >> reporter: liz, i want to show you the headline from the english-speaking newspaper, the san juan star where they talk about puerto rico defaults on most of its debt payment. 58 million. they said 50 but it was 58. the big question, what will the next default be? there is a $50 million payment due in september. no guaranties it will be made -- 350. government says they have to renegotiate and restructure the 73 billion in debt that outstanding but we interviewed a very respected lawyer here in san juan. a man by the name of john mudd. he is a expert in federal and commonwealth law. he says the government is misleading not only investors but its own people. they have the money to make payments. here is what he told us. >> if you look at the budget, there is $20 billion in the budget. there is money. the problem, the government decided to keep employees in the government and not fire anybody so they can be reelected. >> reporter: so one other headline i i want to

indeed i have heard one of my colleagues adam shapiro call it stock nado. you had stock like the dow jones industrials which americans have and in their portfolios, the apples, duponts, jp morgan plummet. many of them are bear market territory that means they are down 20% from the recent highs. again, you have to keep into perspective that there is nowhere near as bad say, for example, black monday back in 1987 and october where the stock market fell 22%. today, greta, we fell 3.5% by the time all was said and done. but there is also an important point to make that what you didn't see here, i guess what you would call that systemic banking collapse that we saw in8 when ls -- lehman brothers and bear stearns was churning. >> indeed. very rough day. liz, thank you. how did today's market impact you? if you don't own stock yourself does it impact you? for that we turn to gerri willis. you are in my home state of wisconsin. we have two categories. those who have stocks and those who do not. tell me what both those people should be thinking in both those categor

let's head to adam shapiro live now from san juan. adam, what's the latest?llion payment that will be missed, that's the debt servicing on the public finance corporation bonds, and that according to different analysts that we've spoken to is going to be the first of several strategic defaults as they try to put pressure on the different hedge funds and the different muni mutual funds and bring them to the table to work out some kind of negotiation and restructuring. just a few of the numbers for you, the government is operating in this fiscal year with a $706 million deficit. they have a $350 million bond payment coming up september 1st. nobody knows what the next strategic default will be, but already the chief of staff to the governor has said they don't have liquidity to keep operating the government past november 1st, so the pressure is growing. back to you, ashley. >> it certainly is. adam shapiro, thank you very much. hour three of varney is next. stuart: what will president obama's legacy be? what will he leave behind and how will it be judged? i think