checking in with nicole petallides. nicole: we are looking here at the dow. we are down about four points. we have had a really narrow trading range. although most of the major averages were fractional. we are up six in a row. the financials have been holding on beautifully. we are hovering around these four year highs. we have had quite a nice run. wanting to take a look at a name that has been under some serious pressure. best buy. sales are weak for notebook computers and televisions. they have been struggling to turn around. they have a new ceo that is coming in this week. hubert joly. he is a turnaround expert geared under a but of scrutiny because he was the head of tgi friday's and radisson. you have the founder who is trying to take best buy private and the board did not really agree with them and see eye to eye on that. in the meantime, the stock has been selling off and they will now provide profit forecast going forward. all they see right now is our profit dwindling. lori: struggling times for best buy. atlanta federal reserve dennis lockhart spok

nicole petallides on the floor of the new york stock exchange. best buy having a horrible day. nicole: we have been focusing on this life for so many reasons. we have been found are trying to take over the company. the board has obviously been fighting that. they have a new ceo under some scrutiny. best buy today is suspending its profit outlook and share buyback for the rest of the year. this is all because their sales have been dropping. they are missing the analyst estimates. they are trying to turn it around. in the meantime, stocks have hit an all-time low. it is that 16.25. dagen: he describes it as a plow horse economy. it ain't going to win the belmont, but it won't keel over and die either. ryan was -- that is reassuring, ryan. [laughter] i knew you would like that one. we have been in this endless hypochondria of the economy whether it is greece, spain, foreclosures, that, whether we will fall over and die or go back into recession, we continue to grow despite the headwinds. stones and rocks and clay in the field. we are growing about 2% gdp. that is not good but it is

let's go to nicole petallides at the new york stock exchange. hitting the all-time highs yesterday, apple is kind of an example of what is happening in the market. a lot of people taking the profit off the table. nicole: at the same time we saw apple hitting a new high, traders are still betting apple continues to go higher ahead of the iphone 5 and ipad. liz: today they are outperforming again reacting to comments, does that lead us to believe that not much changes until august 31 when we have that event that they will continue to do well? nicole: that is true, they have really shown resistan

nicole petallides on the floor of the new york stock exchange. cole: we will take a look at two names here that are on the move. the first is expressed. it has clothing and jewelry. geared towards 20 and 30 something. the number is quite telling. it is down 11.25%. it missed for the second time this year. they will have to cut their forecast. it is not going well for express. it is down 11.25%. these are the lowest levels we have seen since late 2010. williams sonoma is another one we are looking at. we will turn the arrows the other direction. great performance here. it is up 11.5%. revenue and earnings per share beat the street. now they are raising their full-year guidance. a good guidance makes for a good stock. ashley: thank you very much. lori: americans are still wasting food. fresh details about the amount of uneaten food that is dumped into the garbage. you will not believe it. ashley: net capital is getting even more curious. charlie gasparino will be with us. take a look at how the dollar is pairing today. it is up against the euro. it

your response to that is what, nicole petallides? nicole: i'm going to refer to charles.e government was being kind. what they really wanted to say was listen -- i think the governor was being kind. i think he should have said, people work for one to two years and they get to live off the taxpayer for the rest of their lives, it can't be done. illinois, 85 billion dollars shortfall. now the second lowest credit rating outside of another state, california. it's absolutely heart breaking because people who live in these states. you talk about you want more teachers. you want more policemen. this is the platform. if you want this, then why don't you make the necessary adjustments so that everyone can have a better life? stuart: they are spiralling down. as they are downgraded, they have to pay more to borrow money. charles: they have to pay a lot more. may have to pay additional 1.5 million for each 100 million they borrow. if you are talking 85 billion, this is a whole lot of money. stuart: that's a huge extra amount of interest you have to pay in the future. that's a spira

liz: first, let's go to nicole petallides on the floor of the new york stock exchange.tocks reacted positively to the fed minutes today. the dow cut losses in half. what about it do that traders really focus upon? nicole okay. she can't hear me. can you hear me? david: [talking over each other] to your point, market wants, the headline on market watch right now, of course, this is rex nothing. ticket with a grain of salt. get ready for q e. three. that is the headline on market watch, and that is what turned the market around. it has pared some of its loss. it is still trading to the negative side, but imagine where it could have been had they not come to that consensus that, in fact, we are getting ready for foxbusiness.com. nicole is ready now. let's talk about retail stocks. williams sonoma which reported yesterday, seeing a huge jump today, at one time of 11% and is over 11 percent right now. also with american eagle hot. and getting ready to report,

nicole: i am nicole petallides. nicole: hurricane isaac drenching louisiana as a slow-moving storm causing flooding and power outages and bringing most oil production in the golf. the flood production system holding up. we go live to new orleans in moments. we are going to look at the cost of the damage this form is causing. our people properly insured for big storms like this? is government aid available land the insurance company's going to take after all is said and done? >> taking center stage at the rnc, we will go live to tampa for the latest on that and a close look at what the debt could do to the economy and treasury yields which are rising today. better than expected economic news on the wholesale markets off. let's talk about the equities market as we do every 15 minutes and go to the stock exchange. lauren simonetti covering the action. stocks slightly higher. that is the team all week. >> traders are really trying to keep their powder dry ahead of friday's symposiums so that is what we are seeing now and

nicole petallides on the floor of the new york stock exchange. nicole: del has a tough quarter. here is a look at dell. down seven and a quarter percent. their outlook is below the analysts expect. asian companies, as well as apple. this is a test go of it for dell. it is only for pennies away today from its multi- year low. that is what we are looking at. let's take a look at the major market efforts. we are selling off here. down 55 points on the dow. dagen: is the mortgage interest deduction cherished by the real estate lobby? the platform weeding out a full-blown endorsement of keeping that reduction. it will disappear if comprehensive tax reform does happen. steve moore is here, joining us from washington, d.c. this is a very big, it does not sound like a big move by that gop, but, oh, it is. tell us why. >> other then that aarp the real estate lobby in washington may be the most powerful lobby in this town. nobody ever wants to take on the realtors, home builders, mortgage backers. that is one of the reasons it has stayed there for 50, 60, 70 years. we try to get rid of it

liz: netbook closing up more than 2%, we're all over the story with nicole petallides at the new york exchange, jeff flock in illinois and, jeff, to you first. >> i am here because this is a natural gas generating facility. we've got an exclusive, live look inside it today. a complex maze, as you see, liz, of tubes and pipes and the rest, and it's why u.s. co2 emissions are at their lowest level in 20 years. i've got katie sullivan, what percentage of your plants are coal versus natural gas? >> about 70% of our generation this year has come from our natural gas facilities versus 30% from coal. that's a switch from previous years. >> reporter: so the low price of natural gas is what has done this. >> that's right. low natural gas prices have increased the output from our natural gas-fired facilities by 88 president this year -- 88% this year compared to last year. >> reporter: you said we had a bit of a runup in nat gas today, if you look at the chart for the last five years, you see a tremendous fall in the price of natural gas. it's cheap, abundant because of all the new drilling and

let's send it back to nicole petallides on the floor of the new york stock exchange. >> reporter: interestingo take a look. first things first, the numbers. you look at earnings per share, they beat earnings per share coming in at $1. estimates were for $0.98. however, when you look get revenue for the third quarter of 2012 they came in a little short , 29 worse is the estimate of 30. now, as you noted, liz and dave, an initial pop, 4%. two and a half percent. now we are seeing a trading slightly lower. the financial chief has also come out with some statement saying that it takes longer to actually close deals than it has in the past. the company is facing tough going into next year. so it just shows you the tough environment these companies are facing. western europe and china have been particularly challenging, and we know that hewlett-packard has been struggling. the worst performer for the year 2012, and it certainly does not look like it is taking off right now. david: thank you, nicole. well, s&p futures are closing. let's go back to the cme. allen, they have a couple of minutes to obs

nicole petallides, charles payne and lauren simonetti on the floor of the stock exchange.e sales up, having no impact. july pending home sales are up 12.4%. the highest level since april of 2010. no impact on the markets. the dow has turned well points lower. to the hurricane. it remains the big story. here is the latest track of the storm. pretty much solved and that is bad news. tons of grain in one place. forecasters say the worst is yet to come. jeff flock in new orleans. give me another 30 seconds. >> you say tens of rain you are absolutely correct. that is the big headline. tons of rain and in terms of wind. come to this quarter, 70 mile an hour sustained with gusts up to 92. where i am standing running now, fairly close to that. they say this is coming for another 24 hours. see you here tomorrow. stuart: that is extraordinary. get inside. another 24 hours of that. imagine how much rain is coming down. we thank jeff flock for telling us how bad it is. the hurricane is hitting gas prices. national average for regular for almost a nickel overnight. gallon of regular up

nicole: and i am nicole petallides. lori: hurricane isaac impact is already being felt. many oil rigs and the gulf is being shut down. nicole: the storm has the potential to impact all of us even if you are not directly in its path, especially when it comes to gas and oil prices. especially when our output comes from the gulf. nicole: the republican national convention losing a day due to the storm. the show will and still go on. what do you need to watch with this big event, plus, neil cavuto and he will be joining us live from tampa. lori: it is the top of the hour. time now for stocks. lauren simonetti. stocks cannot decide. i wonder if traders and investors are watching isaac wright now. lauren: they certainly are. for the ones that are here. it is a very quiet monday. we have a lot of action going on. a lot of mergers. the nasdaq is that outperform her right now. shares of apple which are surging to a new historic high, they hit $680. their highest level. now we have to see if samsung products will have to be removed. that is what we are watching now. a nice day for

rothman is here, and former clinton advisor doug schoen is here and on the floor of the exchange, nicole petallidesstraight to peter, what's the news on the projections for the economy and jobs? >> well, hey, stuart. the congressional budget office out with its latest forecast and it projects that the deficit will shrink to 640 billion dollars next year, from 1.1 trillion this year, and, but that assumes that the fiscal cliff here in washington actually happens at the end of the year. and that all of the bush tax cuts expire and all of those spending cuts mandated under last year's debt ceiling deal take effect and as a result, the cbo says that if that happens, the economy will fall into a significant recession next year, and contract by about 500 billion dollars in less government spending, and that would equal about 3% of gdp and that would send the unemployment rate back it up to 9%. and all of that assumes that congress does not act with the white house to make changes in current law. stuart. stuart: let me get this straight. are they saying a million fewer jobs if we go, a million lost jobs,

dennis: lori rothman and nicole petallides, keep it here on fox business.

coming up, nicole petallides and lori rothman will see the energy of energy.uy right now? those outages and what is being done to restore power. cheryl: plus we will have no "cavuto" with a look ahead. keep it here on fox business. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. ♪ i can do anything ♪ i can do anything today ♪ i cano anywhere ♪ i can go anywhere today ♪ la la lla la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything solutionism. the new optimis dennis: this just in. a very harsh comment from cheryl, a right that i'd just fact checked it, it is the stupidest show on television. so you got that right. cheryl: thank you to our viewers for backing us up. i don't know where to go with this one, but still above 13

coming up lori rothman and nicole petallides have more on isaac et al.res. ♪ dennis: you can pay me now or you can pay me later. that was an old car part had. that is a lesson samsung got from apple. now i will turn it over to lori rothman and a special guest. lori: we a