that is on the fox business network. now, if you do not get fox business -- >> demand it! : it is the network billionaires' trust an average folks trust. that is a big swath. -- the network billionaires trust and average folks trust. let's look at the big board. is the seventh in a row, the highest the dow has been this year -- it is the seventh in a row. we are getting better than expected economic news, and this is fostering a debate that if the economy seems to be improving, new home sales are picking up, do we need to be going full throttle with all of this government spending, and do we need to compound the error? you know, the checks going out to convicts and the checks going out to dead people? i know this bothers some people in washington. i may offend them, but my intention is to help you. . . . . (announcer) we understand. you need to save money.

. >> nicole petallides from the "fox business network" joins us live this sunday morning.nice it see you. >> nice to see you guys as well. >> we're seeing these high numbers, the highest in 2009, stock market up 1%. this sounds great, fantastic news from the stock market. is it being reflected though on main street? are jobs created as a result of this boom suddenly? >> the wall street part of it does sound great. you have stocks high 2009, nine months high in the dow. everything on the move to the up side. the confidence, hording cash, wall street, great. main street? not so great. because main street has a whole another issue. they are not able to get loans. when they have to buy a home for example, 5% down, used to be 10% down. not able to get the loans. credit not loosening. no loans for the small businesses. and even the credit card fees are going up. everybody having to use cash. in comes personal income stress, eight months in a row. just got our last report this week. eight months in a row. annual year over year incomes, the worst on record. where are we supposed t

joining me now, fox business network reporter rich edison. good morning to you. >> reporter: good morning. >> jamie: and the reason i wanted to talk to you, is with all of this cash for clunkers, another $2 billion for clunkers, what about college? what are the the deals are out there right now and is the obama administration making good on the promise that every american student will get a world class education? >> it is beginning to. and its pledging billions of dollars to try to help folk get into especially community colleges, there are three ways out there the federal government can help you, the first is a loan, you can borrow from the federal government, for most kids, actually up to a point where it pays for your entire education, but, of course when it comes to loans you have to pay that back. there are grants that mostly go to low income student but also can be based on merit, if you do well in high school, and then the third, is the obama administration's tax credit, it gives up to $2500 back for some families and some students, de

he has his big radio show, and he is part of the powerful earl fox business network and mina. - and he is a part of the powerful fox business network lineup. neil: some more and balances on pay off periods, and they cannot jump in and start doing things. what do you make of it? >> it is a washington attempt to fix something out of control. washington does not have the ability to stop up all of the holes have because the lobbyists are too powerful. now, you cannot get one under 21 without a co-signer, so the only people with a credit card under 21 are those with stupid parents, so the other option, they pickedç on the universal çdefault provision and have tan that away or at least a neutered in a little bit, so it is not bad, but if it gives you, the allusion that you are protected by washington, then this is bad. -- the illusion. neil: you are more comfortable carrying balances, and you are more comfortable carrying credit card balances, right? >> yes, you can trust them- because washington took the fangs out of the snake. absolutely not. it is still buyer beware, and the bes

fox business network correspondent peter barns is here to tell us how few distressed homeowners are really being helped. >> less than 10% of what the administration promised. as you recall, this was the $75 billion foreclosure prevention plan that the administration announced back in february and said it could help up to $3 -- up to 3 to 4 million struggling homeowners. now we have this report card from the treasury department. it said that 2.7 million homeowners are eligible for modifications to reduce monthly payments and said banks and mortgage servicers have offered to modify 400,000 of those, 15% in total, but only 235,000 of those have been approved for trial modifications, just 9%. the administration and the companies agree it took time to ramp this program up, and more needs to be done and more will be done, they said. bret: we have getting details of a private meeting with treasury secretary tim geithner last week with bank regulators t seems like the treasury secretary got a little hot under the collar. what happened? >> our colleagues at "the wall street journal" reported on a b

you, david, and i want to thank you, anana, ani want to remind you, if you do not get the fox business network, you should demand it. poorly chosen words? the democratic congressman of california. congressman, you are a smart man. -- a democratic congressman of california. there is no way those lasted two guests are mob like. >> there are places where they have been mobbed like. there are places where they are not. -- where they have been mobbed like -- mob like. when you see the threats to the safety of the family of our colleagues, when you see the hanging in effigy of one of your colleagues, then you have to understand that there are places in this country where there is an attempt to intimidate members of congress. there are attempts to stop civic discussion and to prevent town halls from going forward on an orderly basis, and that is because the opponents of this plan simply have no good ideas, but they can always screaming, and they can always threatened. -- they can always scream and they can always threaten. neil: the people being questioned know little or anything -- they get upset, b

money for breakfast, of course, on the very popular business travel, fox business network. [captioning made p

neil: when we did this story on fox business network, which if you don't get you really should demandthe white house immediately called me. not someone prominent. it was the white house chef. that's as far as i go. but this guy was saying hello, these are policemen, these are firemen, these were highway workers, these weren't some bureaucrats sitting behind a desk. that was their defense. >> yeah, but here was the promise to ben's point. this is actually promised to generate millions of jobs. we're talking unemployment rate wasn't going to go -- neil: stay or create. >> this was to create. this one was going to create millions of jobs. unemployment would stop at maybe 8.5%. obviously we're well above all of that. but here's the thing. government is getting bigger and bigger. all of it controlled by the executive branch while main street gets smaller and smaller. i really want people out there -- no, the person out there who makes like $35,000 a year and donated $200 or $300 to the obama administration, i wish any of those people could tell me if anything has happened to them so far, i

denali is reporting from the fox business network. -- jenna lee is reporting from the fox business network. >> on the manufacturing side, we have durable-goods orders for july. these are items that will last you a couple of years. this is important for the manufacturing sector because if these orders are up, you can produce more items. it was up at the highest we have seen in two years. good news for the manufacturing sector. however, year over year, they are still down, but we are looking better as we approached the second half of 2009. new-home sales also better than expected today. we are seeing people go out and go shopping. new-home sales only make up to 50% of the market, so we have to keep that in mind. there is also a thought that homeland could slow down when the tax credit expires. definitely some questions whether this data is sustainable. jon: jenna lee. thank you. jane: we are watching firefighters struggling to get an upper hand on wildfires in southern california. we will update you. jon: and we will continue to look back at the life of late -- of the late senator ted kenned

he is a star of a radio show and also a part of the prime-time lineup on the fox business network. you still get stuck. what is the deal? >> no, you did not practice everything on the show, because we talked about and getting rid of them, because if they are gone, i do not get any fees at all. the opportunity to write me off on my credit card is zero, because i do not have any -- their opportunity to rip me off on my credit card is zero. this is pretty gutsy charging for no use. some of these are going to write clients off for life. i am talking about people are really angry about the way they are being treated by collection departments and the way they are being treated when they do not owe the bank anything. it is absurd. they have completely lost touch with their client base. it is amazing. neil: i know you are against credit cards and all of that, but a lot of people keep them, dave, just in case, just in case, so a lot of people have seen their credit cards cut down even when they have no problems and being charged for no balances. the furnace goes, and, yes, they have some sa

bill: you are the boss of the fox business network. have you crunched the numbers? >> i have, there is no way that you can pay off this or get savings from it from what i've seen from the house measures. bill: that is the 1000 page bill. >> this is the largest bill we have seen. they think that taking deductions for people like you will pay the balance. that cannot be done. bill: the congressional officbut office agrees with you. you say to your audience, president obama is misguided, does he not miss -- does heat misunderstand or is he intending to deceive? >> i don't think that he is intending to deceive. he thinks that this will give us savings. there will be an argument about the public auction are not, that is mumbo jumbo. that is when to keep the private insurance companies in check. -- that is going to keep the private insurance companies in check. this has never happened in american history, we have never seen the government do it on this type of skill. the fact that this will be more efficient what we have when we are just layering what we have -- bill: you

bill: stuart varney, fox business network, with us live. 94 taking with us -- taking this with us one at a time. >> the writing is on low wall and it has been for some time. it's as this, middle america is going to have to -- and it says this, middle america is going to have to pay for this with taxes. just for confirmation, let's take another look at timothy geithner's interview. >> roger altman said that it is no longer a matter of whether tax revenues must increase, but how. is he right? >> george is absolutely right. it is important for everyone to understand, we will not get this country back on track unless we can convince the american people that we have the will to bring things down once recovery is firmly established. >> you have a right there, quite clear. absolutely right, we have got to raise more tax money. it is widely acknowledged that the rich cannot pay for it all. coming down the food chain means middle american taxes are going to go up. my guess is that they will be taxing the stocks that we buy, the consumption tax. that is the only way to bring in the revenue we a

sandra smith is from the fox business network. what is the deal with this?es have come down so far, so fast, you have probably noticed this at the grocery store. we will see this go up as the economy recovers. eggs and milk are a good example. stable items have gone up 20%. those are the ones that will rebound. shepard: what else is going up? >> where we have seen prices rising, some kinds of fruit. those saw great declines. grapefruit is up 6.6%. beef is starting to go up. also spaghetti has seen in a little bit of a pickup. it is that the drop in food that we saw what was the biggest, we will see those prices,. shepard: coupons are your friend. a retired state employee comes forward to claim $260 million in a power ball jackpot. what does he do? our lead across america. south carolina, solomon jackson jr. will not say whether he is taking his payments in a lump sum or over many years. either way, he said that the fortune one not change him. >> i am already retired. god has blessed me. shepard: he had the only winning ticket from a power ball drawing. a fam

sandra smith from the fox business network is with us. you know, who can blame them? >> yeah, bernie madoff scared a lot of people, period. so what happens happening now is we are seeing a loft investors large and small, they are going out and hiring private investigators, trying to get them to help them do the due diligence before they turn cash over to be invested with the fun manager. private investigators, they are being asked to get referrals out to people who know the fund managers and looking for red flags. many cases they are asking for private investors to look more into the personal lives of these fund managers. just trying to look for any red flags. shepard: who are the people hiring these investigators? >> investors large and small it started out with mainly the bigger investors in eastern europe. now spread domestically and smaller investors. wealthy families, endowments, charities, foundations and even individual investors. more help looking at either who i'm going to choose to invest with or, in some cases i talked to some private investigative firms wh

joining me with reaction to this story is our friend from the fox business network. you. warren buffett, obama supporter. what does this mean? >> this is a warning to president obama. watch out. you cannot continue to spend, borrow, and print money the way you are. if you do, you will turn us into a banana republic. this is important because it is warren buffett. this is the man that has a great reputation. he is -- he was an ardent supporter of the president during the campaign. now, he says, wait a minute. you have got to think about retreating from all of the spending. sean: how does this impact? two bits of news came out today that scared me. max baucus says social security could face default within two years. we have hundreds of dealers dumping the cash for clunkers program. they are not been paid. how does it impact it? >> i do not know how it directly impact social security or cash for clunkers. this is a call to start retreating from the spending. my position would be, he cannot retreat. this administration cannot retreat from what is already in place. you ca

the host of a show of the fox business network joins us. going on with facebook. >> the irony is he started the company about 30 years ago. if he had positions what he had put in "the journal" when we were not considering health care, this would have been considered radical reform. here are eight ideas asç a including toward reform, -- he are eight ideas -- here are eight ideas that might be successful that i have, including tort reform. there is a boycott webpage set up, and they are calling this, get this, greta, a right-wing zealot. greta: this is ceo of whole foods, in 2007, he said he had enough money to live comfortably, so in 2007, he cut his salary down to $1 a year, and he donated all of the proceeds from his stock option to charity. it does not sound like this is a person to stick it to the poor. >> he is a self-described libertarian. i do not know if that was anchoring people. not only was he taking $1, but he pushed through a need-based fund for wholefoods worker. q24, this has been considered a relatively progressive company.

let's say good morning to chris cotter with the fox business network in new york with our business beatay we talked about the adp numbers but now we have the big one, the nonfarm payroll numbers. what are we expecting this morning? gentleman for right or wrong reasons, whether it really should have that big of an impact on the market, i think it will. that comes out at 8:30. the monthly report is coming out. it could be bad, it could be bet are than expected. we'll have been an hour's worth of time to die swreft it, to look through it with a fine tooth comb and then bell rings to open up the market. # 0,000 jobs are expected to be lost. unemployment rate is expected to climb from 9.5% to 9. #%. that is much slower a pace -- to 9.6%. that is much slower a pace. if it comes in # 50,000 jobs lost, it might be seen as another one of those green shoots and the markets might go off to the races again. >>> talk about retail sales, we're starting to see some of these numbers coming in as we look towards the fall and back to school shopping season. >> en was nervous yesterday about this jobs rep

she is from the fox business network. >> while the headline number was a disappointment, showing a dropuction during the month of july, take a look. it was weighed down by construction of multifamily dwellings, and that is apartment buildings. you'll see single-family homes actually went higher, and that has been steadily increasing since march, and that is a real sign of stabilization. shepard: whether or not they think the housing market has turned a corner. >> the majority of economists do think the housing market has hit a bottom, but growth in the housing market is not exactly expected to contribute to gdp until next year. why? that is because the housing market hit such a low, and rebounding from that, just to give you a quick scope on that, still single-family housing starts are down over 7% from their peak in 2005, so there is still a long way to go, but there is stabilization. shepard: everybody was building two houses each. thank you. the government's cash for clunkers program -- down 70% fromç their peak in 2005. they say edgy and they are boosting production just to keep up

well, here is charles payne, from the fox business network. hey, charles, how are you? >> great. glenn: also from the c.e.o. of wall street strategies, let's go over this. in common sense, i have another number, because i have future liabilities of $99 trillion. >> right. glenn: this is a conservative estimate. >> that's very conservative right. there i mean, i have seen well over $100 trillion by many different organizations. glenn: so the conservative estimate is everybody, every citizen of the u.s. owes $191,832. >> and this number, as you can see from the clock, keeps moving at a rapid pace. >> how can we ever pay that off? >> you mentioned tax and spend, so that's sort of like being on a diet and having a salad and then having a bowl of ice cream. they can tax us to get the money, and, you know, i think it would have to go up to something like 80% tax rate, something like that, you know, but they can't keep spending, that's for sure. that's the one problem we know washington has always had. glenn: here is the liability per citizen, just for the u.s. unfunded liabilities that

. >>> adam shapiro with the fox business network is joining us live now with our business beat today.hat the global recession is over. for them, the economy is going to be back on track. here at home, not cosure. >> why would they want to leave all this fun? can you imagine that. good morning. the japanese prime minister actually came out and said hooray, the recession is over. my economic policies have worked. however, what he is not actually pointing out to perhaps american view ares at least is that he is in a bitter re-election battle and he is trailing in the polls. so maybe japan hasn't really exited although they are saying the data indicates they left the recession party if you want to call it that in the second quarter. lets asee what happens after the election and if they continue to remain in expansion because they face the same kinds of risks we face, rien up employment and debt problems. japan says they are out of the recession, see you, fellows. have fun. >>> the market was down on friday just over 7 # points. stock futures are down today that. doesn't bode well for wher

trust the foster -- trust the fox business network. it is always there for you.u have any paper money in your pocket, your purse, chances are you are also carrying around some contaminated money. nine of every 10 bills has a trace amount of cocaine on it. researchers say special machines that test the bills are available so that there is no way for you to know for yourself, but we're told that washington, d.c. as the most drug tainted money. today -- you may know jessica. she is the stage manager. she points to things. >> in so much more. shepard: we have been here on stage for many years. now she is going away to have a baby. today is her last day here. what are your plans? >> to have a baby. sometime between now and next monday. shepard: people are going to take over? >> and make it happen. shepard: it is hot and you are tired. shepard: 41 weeks into this process? is there anything you want to tell us abo t

price tag of the looming reformal lexic glick from the fox business network and former white house press secretary dana perino. first of all it's the democrats their own ranks fighting amongst themselves which is a good thing. >> they control every bit of washington and they have no one to blame but themselves. >> why am i convinced that pelosi, reed and the president have not given hup up. >> they haven't. >> and they are basically going to compromise. they are trying to rewrite this bill. right now they have come up with the idea of a quo op not a government option. >> no matter what i don't think they will get a bill by friday. they haven't put it on the back burner and we have to be careful because they are whiley, they are going to try to get something through, but they have not convinced the american people what is going to be in this plan and why they should pay for it and they are not buying it. i don't care how many knew -- new ideas they come up with they have to go back to the drawing board. >> what bothers me they are going to come up with a different type of wording incremen

chris cotter is with the fox business network join is you go live from new york with our business beatnts, not a whole lot but still down. >> yeah. we had a laysy day yesterday on wall street, didn't we? we are talking about one of the slowest days of the year. trade ares often say today was a waste of a good because officer and a shine wheat shirt on a day like yesterday. it was -- traders often say today was a waste of a bus fare and a clean white shirt on a day like yesterday. >>> general motors hoping to move some cars. tell me about the partnership between gm >> reporter: e-bay s selling used cars but never new cars. gm is now partnering up with the on-line auctioneer with the opportunity to sell 0,000 cars. they've got about 250 deal are ?pz california on board with this. it is a little bit of a test run to see how it works. if it does work, it will be a boon for both gm and for e-bay. for gm, because the cash for lunkers program has been such a success but that will cause a swoon in demand come the fall. we'll have a big drop-off. so gm is looking for different channels to keep

chris cotter is with the fox business network in new york with our business beat. good morning. >> good morning, gurvir. >> we'll start things on an up tote after kind of a bat -- on an up note after kind of a bad tart earlier in the week. >> you hay bad end of last week a bad upon. bulls took control on tuesday. and then overnight, last night, we haded a big selloff in asia. trading lower in europe and we're going to trade lower most likely when the opening bell reins at 9:30 because our futures are lower other than though we had a good day yesterday. up almost 83 points. it is just one of those things that we'll see probably for the rest of august is that you have low volume so the volatility increases significantly. you have days where we're up a hundred and down a hundred. we may have the case in point today. >> there was a little bit of good news and that is in terms of what is going on in the retail world. maybe it has something to do with school starting up again but retail numbers are up. gee retail numbers came in yesterday. that drove the market yesterday

he is the co-host of "happy hour," on fox business network, which did you do not receive -- >> demand it. neil: what do you make of this? >> what they do not tell you, when they tell you 50 miles to a gallon on the fossil fuel, 230 miles to the gallon on the hybrid, these things have to be charged, right? if you put 2 million or 3 million of these vehicles on the road, you have to create that additional electricity. that is one. number 2, when these batteries die -- and they have a three or four-year life. you have to dispose of this. not in my backyard. not sure where those are going to go, but the one that matters to me is what about the electricity grid? we have been in the last 10 years three major blackouts. $50 billion lost to the state of california. one just a few years ago in the northeast corridor. 35 million people were out of power just because it was hot for a few days in a row in august. if you add 2 million or 3 million vehicles that need to be charged sundowns of the 24 hours, you might fall into that same thing where year after year or any time the weather gets warm,

chris cotter with fox business network is live in new york with this morning's business beat.d morning, chris. >> good morning, allison. >> a couple of days ago, i was standing here talking to you and we were optimistic about the market now today, not so much, sort of a mixed bag. >> you know what? again, i say we need it take a step back every now and then. maybe that is what we did yesterday. we ended our four-day winning streak down 39 points on the dow. we were still able to hold that 1,000 figure on the s&p 500. that is an important level of support that we kind of keep an eye on. it is a psychological level if you will. we were able to do that. that i important. today, our futures were roughly flat and you can go either way. they are trading positively in europe. the banks are doing very well over there. that usually spills over here at the start of our day so we'll see how that goes. wave got a mixed bag of economic data yesterday. the adp employment report wasn't great. we got a ism index report on the service economy and that wasn't great. we still didn't have a big s

i will see you one hour from now on fox business network where you can get more of my interview with

details now from peter varnes of the fox business network who is live at the business desk. how much money are we talking about here peter? >> well, shepard, the "new york times" analyzing the government's investments and financial firms estimates that taxpayers have earned about $4 billion on investments in just 8 of the biggest banks. a 15% return. now the treasury department says those numbers are consistent with its estimates from profits from those particular investments in dividends and in firms buying back stock warrants held by the government as part of those deals. but for all of the 500 or so firms that the government invested in, it says the treasury department says the profits so far are closer to .5 billion. shepard: not bad, but this is not to say that massive losses are impossible now. >> that's right. we're not going to know how some of these investments will pan out for the taxpayers for some time. for example, the $70 billion the treasury invested in insurance giant a.i.g. and the 75 billion it has invested in general motors and chrysler. shepard? shepard:

let's check in with robert gay with fox business network.it was pretty light volume most of the week and yesterday, here we are at a high for the year. >> yeah, how about that, steve? i was just taking a peek over here at the futures. they've been meandering between gains and losses. we've seen stocks higher in europe. may bode well at the open. we'll get key reports on consumer prices base you canally inflation at the consumer level coming out at 8:30. so that could drive the tradingearly on. we had this disapinning retail sales yesterday so we want to know if the consumer is feeling a little bit better than they were last month when we saw it slipping don a little bit. we had a report out from nordstrom on their latest earnin. they were pretty much in line but kind of bullish about raising the forecast. keep an eye on j. c. penney an abercrombie and fitch. we want to hear what they have to say about back to school. ford, you mentioned that talking about cash for clunks are. they are doing pretty well. they will ratchet up their production

we go up to chris cotter with the fox business network for that.. >> hi, gurvir. >> so the dow had an eight- session winning streak but it ended on friday so we are starting on a down note today. >> a significant down note. issues overseas, particularly in china, where their stock market closed down almost 7% today sort of bleeding into our day today. so i expect us to start on the down note as well. our futures are down csiderably even though we've got about four hours before the opening bell. it will be a sleepily week. we've got next data to look at. we've got the car total sales for august that will be coming out as well on tuesday. the big one on friday, the nonfarms labor report that we get every month for the month of august. we'll all be kind of anticipating that coming out on friday morning. >> it will be interesting to see what happens on tuesday with the auto sales. your stock of the day is nike which is kind of appropriate since the u.s. open begins today. >> yeah, i cheese nike today because, as you mentioned, the u.s. begins and nike

that is on fox business network. i will see you one hour from now over there. see you then. . . . can enjoy the zoo with my grandkids. (announcer) for people with copd including chronic bronchitis, emphysema, or both, great news. advair helps significantly improve lung function. while nothing can reverse copd, advair is different from most other medications because it contains both an anti-inflammatory and a long-acting bronchodilator working together to help you breathe better. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. we had a great day, grandpa! we sure did. ask your doctor how advair helps improve lung function for better breathing. (announcer) find out how to get your first full prescription free at advaircopd.com. you all want to run your businesses more efficiently, so we've brought

. >> every day here on the fox business network, we talk about global commodity prices. oil trading inversely with the dollar. even corn close association with the ethanol blend of a, but sugar grows on trees. almost. my nephew consumes the equivalent of a small countries import quota just over the holidays. we need to start getting concerned about a shortage in sugar. general mills, kraft, and hershey recently submitted a letter to the ever closer secretary urging immediate government action to end or reduce import tariffs restricting the amount of less expensive for and produce sugar available for purchase. u.s. food producers in a typical year might pay as much as twice the growing global rate for sugar, and this year, that rate is at a 28-year high. in this letter to the agriculture department, these companies claim that there is it -- that this intending shortage will force them to pass those prices on to the consumer and possibly even eliminate some jobs. this will only hurt -- this will not only hurt those of us who love sweets, but most breads -- loaded with suga

>> tracy byrnes with the "fox business" network. good to see you. essentially is the white house being forced to now admit, just about everybody knew in the beginning, and that is that they were using fuzzy if not fraudulent math and we're going to have to borrow trillions of dollars in order to pay for the president's new policies? >> pretty typical dc to come in -- to not come in under budget. they know these numbers they're putting out for the public are really light. so when you get down to it, everything is getting bigger, all the numbers all around are getting bigger. we know health care will cost another trillion dollars. tack that on to the budget. you're looking at potentially $10 trillion in deficit right now. >> the cbo at the very same time the president had initially at the beginning of the year put out his number, the cbo put out the true numbers and i got to tell you, they had had right almost down to the dollar, which invites the question, did the white house deliberately hide the depth of the fiscal crisis and dare i say it, try to

chris cotter joins us from new york and fox business network with more.ut the markets first. looks like futures are up once again coming offer a great, what was this, july? >> that is the dog days of sum fore you. you just get lost in it. you want to get lost in it if you are a a trader right now. an unbelievable month of july. the best before aseep in 0 years on the dow and the best month for the dow going back to october of 2002. we finished with july as you can see there relatively flat on the day on friday but we continue to at least go in a positive direction. earnings season continues. we'll have a bunch this week i'mlet of home builders later in the week. some consumer companies like kraft and proctor & gamble this week. about #á of the s&p 500 names have reported earnings. profits down 27% over the second quart are last year but we were expecting them to be down about 36%. that is one of the big reasons why the markets have oregano gone screaming upward. >> is this going to continue and what was some of the confusion last week on the cash for clun

for that, we turn to robert gray with fox business network.ybe we would take a break from the winning streak but the markets rallied once again. what are we looking for again today? >> don't count the bulls out just yet. eight straight gains for the dow industrials. longest streak since april 2007. if we were to close higher today, it would bthe longest since 1996. keep an eye on some dell and j. crew a couple of stocks to watch today. both beatinexpectations. we have a couple of key economic reports, one on con summer sentiment at 10:00 and in just about two hours, look for one on personal income and spending. >> let's talk about the telemarketing calls. wave bn down this road before. now we are focused on the automated calls and the f tc getting involved. >> those are annoying. you hear the jazz music in the beginning. you know what is coming next before you hang up sometimes. these ought mated calls are going to stop on september 1st. there will be a $16,000 fine if anyoneis called violating this -- a lot of the telemarketers were given a h

fox business network stuart varney joins us.tewart, you've been phenomenal on the issues involving the economy. i applaud you a lot. we're going to get some news tomorrow on these economic numbers. unemployment will go higher. >> yes, the unemployment rate will go little bit higher. the key thing is we'll have lost hundreds of thousands of jobs in july and we're going to keep bleeding jobs through the rest of this year. and when it's all over, when we've flattened out the beginning of next year, we will have lost seven million jobs since it all began. and i think it's going to take at least three years to get them back. >> that is a scary prediction. it is. i have one question i ask everybody -- social security is bankrupt, medicare is bankrupt. unemployment wasn't supposed to go above 8%. and now people are believing the new propaganda about health care. why do you think that is? >> it's a very effective spin, but it's not actually working, is it? you look at the numbers, and the poll ratings are coming down very, very sharply.

first, we want to take a close look at the markets and we join chris cotter up in new york at fox business network keep the great news going this week? >> yeah, and every single week that we have an up week like we did last we can, we were up 2% for the week on the s&p 500 up 54% on the s&p since our march lows, every week we aance higher, more and more people tend to go over to the side of the bears and start to say, okay, wear due a pullback. we have to snap back. we are overbought. we are in that type of situation right now. can you see the dow continues to climb. so it gets -- it is almost like pulling a rubber band and you are pulling it tighter and tighter and it can't go anymore. are we there yet? if you are just getting into the market, you're saying no. particularly institutional unvastors missed out on a lot of this 54% since march. they want to get in. there is that momentum and it is moving the market higher. >> let's hope if their sake and the rest of us that continues to move the market higher. talking about big numbers, cash for clungers, got a lot of work over the last couple of we

now are "wall street journal" senior economic writers, steven moore, and danni beck, on the fox business networkalyst, judge andrew napolitano. stephen, let me start with you. you have called something the triangle of evil. what is it? >> well, you have got three major pieces of legislation coming down the pike that we have been talking about -- healthcare, the cap and trade bill, and the union card check issues, and the victims are all small businesses. let's take healthcare for a minute. how are they going to fund that trillion dollar bill, glenn? payroll taxes on small businesses as high as 8% on every small business here, and then they're going to raise the income tax 5 percentage points on, quote, the rich. now, the people who are rich, are 70% of those people are small business owners. now, you ask the question why don't these members of congress get it? why doesn't nancy pelosi get it? why doesn't barack obama get it? because they have never run a business. they have never made a payroll. they have been community organizers. they really believe, folks, that members who run small businesse

with some answers here is tracy burns from the "fox business network." >> julie, as you mentioned the klunkers incentives and other night. unless the final weekend turns into utter chaos, president obama can cite the rebate system as a success. dozens of dealerships on the brink of closing were spared thanks to the new sales of almost 489,000 new vehicles. many auto analysts question if the program will have a lasting impact or did simply steal sales from the final months of 2009 and 2010. critics note that only 54% of the top ten vehicles purchased under the plan are manufactured in the u.s. the top seller being the toyota corolla. as you've heard, the rebate process as an administrative nightmare. as of friday the department of transportation has reviewed and processed more than 150,000 applications, but approved just 140 obama officials said the program will be able to accept new submissions until the 8:00 pm monday deadline. after the program closes the department will not allow dealers to submit additional applications. the program has been plagued with problems, as you know. the

chris cotter joins us from new york and fox business network. good morning, chris.alk about what happened yesterday and what we're looking at today. >> yesterday, we had a day very similar to what we've seen over the last couple of weeks a lot of earnings to report an also some economic data and it is driving the market. it is not driving it in a big way in one direction or the other which i think is a little bit of a positive yesterday that we had a little bit of a tug of war. you see the dow right there up just 4 points . holding 1,000 on the s&p. that is important. >> what are we looking at today in we have payroll data coming out, some other indicators. is this anything that is a preference for the bull or bears? >> we've got this adp report. we used to sort of brush that report aside and wait for the monthly nonfarm payrolls report which is coming out on friday. but because jobs are so important right now, we are looking at the weekly reports and looking at this adp private sector payrolls report as a little bit of a tell before we get to friday. that may move

were painting it we talked to a lot of business owners, a lot of small business owners at fox business network. look, we are still struggling very nervous about the cost of health care reform coming forward. still a lot of bumps in the road for american businesses. they are not all good ones either. either. laura: day began, i want to get new this on this. conversations about democrats on capitol hill choosing toville phi yet another business. america is in the business of business insurance companies. i think this anti-business rhetoric itself is a drag on the economy. what's your take on that and the executive compensation issue dove tails into it. >> it does. it certainly is all the talk. negative talk. it certainly hurts confidence and what's going to be critical is getting those businesses to continue spending. more important than that, hiring people. that's going to be the biggest drag is consently high unemployment. you see employment costs. the smallest gain on record so people are not making that much more money. that's going to be critical but cheryl really touched on what's at play

were painting it we talked to a lot of business owners, a lot of small business owners at fox business network. look, we are still struggling very nervous about the cost of health care reform coming forward. still a lot of bumps in the road for american businesses. they are not all good ones either. either. laura: day began, i want to get new this on this. conversations about democrats on capitol hill choosing toville phi yet another business. america is in the business of business insurance companies. i think this anti-business rhetoric itself is a drag on the economy. what's your take on that and the executive compensation issue dove tails into it. >> it does. it certainly is all the talk. negative talk. it certainly hurts confidence and what's going to be critical is getting those businesses to continue spending. more important than that, hiring people. that's going to be the biggest drag is consently high unemployment. you see employment costs. the smallest gain on record so people are not making that much more money. that's going to be critical but cheryl really touched on what's at play

right now on the phone with me is fox business network producer charlie gild who is an eye-witness toperations right now. charlie, tell us what is going on right now. so far confirmed, one person has been pulled from the hudson river. how big is the debris field as this search operation continues? >> it is hard to tell, but based on where the rescue vessels are rand fire department and police department are, are it looks like it east is 100 yards but it's tough to tell if that's where the debris is or that's where they're looking. i talked with one officer who told me the debris is starting to flow towards the manhattan side. i happened to be down by the river a few minutes after the accident. i didn't know what happened. i saw a small fire department launch running out towards the new jersey side of the hudson just off of christopher street, west paul street, downtown, and at the same time, a fire department ladder truck in manhattan had pulled up. the crew was grabbing all the gear he they could, including a surfboard. it hooked like water rescue equipment and this pier happens to b