i'm seema mody.the dow sits on a triple digit gain, take a look at the best performing stock ibm. big blue shares up 2% outperforming its peers in the large cap tech space contributing nearly 30 points to the dow gains so far to date. also nearly erasing its losses for this year. tyler, back to you. >> thanks very much. >>> so as the world waits for the crisis in syria to play out, what is the cost of being ready for war? eamon javers in washington with the details. >> it's one of the most difficult questions to answer here. what does it cost to keep the u.s. military poised as president barack obama said he wants to keep it for a strike on syria. take a look at this list here of the u.s. navy ships that are in the mediterranean right now and what you see is we've got four destroyers "the uss gravly" "ramage" "barry" "stout" and the "uss san antonio" is in the med as well. it costs about $7 million a week to operate a destroyer. i talked to a high ranking department of defense official earlier today

cnbc's seema modi joins us now with that and other stories.ema. >> good evening, larry. that's right. the international longshore and warehouse union and its 40,000 members are cutting ties with the afl-cio. the union wrote a letter to afl-cio head richard trunka explaining the move saying that obama care taxes workers with so-called cadillac health plans. the letter also complained about trunka's stance on immigration. >>> and the new span of the bay bridge between oakland and san francisco opened this morning. it replaces a structure that was damaged by an earthquake in 1989. plans for the project started in 1997 but was delayed for years. keep in mind the final cost of $6.4 billion is more than four times the original estimate, larry. >>> and lastly, cbs and time warner cable ended their dispute. so cable customers in new york, los angeles, and dallas get their cbs stations back just in time for nfl season. analysts say cbs clearly won the standoff. it got a big increase in the retransmission fee. and it also will be paid for digital rights

seema mody with a look at how the futures are trading. good morning. >> good morning. the markets, the dow and s&p 500 snapping a five-day losing streak. invest terse continue to worry about the budget and debt ceiling fight. d.c. remains a at standstill as we near on the eve of a government shutdown. some reports today keep in mind, personal income, consumer sentiment and farm prices. redwood city company ea sports and the licensing company in a lawsuit filed by student athletes seeking to be paid settled their roles in the case according to a federal court filing on thursday. the filing came after eaa sports announced on its website it would not publish its popular video game in 2014 and that it was working to settle the lawsuit with the athletes. >>> popular game the candy crush saga lining up something besides jelly beans. bankers. "the wall street journal" reports that the game publisher holding company hired banks to pursue an inial public offering. the company has capped the likes of jpmorgan and bank of america. the company is expected valued at more than $5 bi

julia boorstin and seema mody.y he go to microsoft as the executive, top executive, following ballmer? would it be a good move? >> some of the skeptics say he's an auto guy. what does he know about technology? keep in mind that order to be a leader in the auto space you have to have a deep skillskets in technology. >> before an auto guy he's a airplane guy. >> let's talk with a story you've been following intel and its tv aspirations. >> earlier this year intel said it would have a new tv service like a bundle of channels similar to cable tv it would distribute over the internet and had to do -- >> called net flicks. >> actually more like comcast or time warner cable. to do that it had to strike deals with all of the content providers with viacom and disney and fuse corp, fox, the problem is they haven't been able to strike the deals yet. they promised it would launch by the end of the year. it's looking like it's not going to be ready in time. >> mcdonald's which announced they are going to start serving fruits an

i'm seema mody in new york. >> samsung might have more invasions to talk about in a few weeks. it scheduled a conference in south korea for november 6th for investors and analysts and the top pick the future of smart phones and on the agenda samsung's long-term growth strategy. not to be undone, apple, samsung's biggest rival has a big week ahead of it. the company announced an event next tuesday at the headquarters. the next day, september 11th apple will host an event in beijing where it's expected to announce a deal with china mobile, the biggest carry tore sell the iphone there. >>> a new building going up in london financial district is being called a flag scaper. it's refliecting so much sunligt it's melting cars. it melted parts of a jaguar parked outside the building last week. the build's developer apologize gie ed and offered to pay for repairs. the same architect is build tlg and -- >> oh, yeah. >> and it's a lot hotter. >> can you imagine calling home, honey, the car is melted. >> can you imagine that? >> especially a jaguar. >> that's nightlily business refor the f

. >>> now let's check in with seema mody. good morning, seema. >>> stocks dropped for a fourth straight day on tuesday. analysts cite falling consumer demand and slumping crude oil prices. >>> amazon unveiled a new kindle fire tablet, with faster process and mayday button for 24/7 live video text support. paige, back over to you. >> thanks, seema. >>> all your sports highlights, next. >>> but first, what is the most expensive movie of all time when adjusted for inflation? waterworld, titanic, pirates of the caribbean:at world's end or cleopatra? >>> so what is the most expensive movie of all time when adjusted for inflation? "waterworld," "titanic," "pirates of the caribbean: at world's end" or "cleopatra"? the answer? "pirates of the caribbean: at world's end." it cost $332 million to produce, but took in a staggering $960 million worldwide. wow! >>> and in sport, the dramatic battle for the america's cup is down to one race. oracle team usa is still alive after an incredible comeback with new zealand needing one victory. the

. >>> now for your first look at business we turn to cnbc's seema mody, good morning, seema. >> goodutures are mixed after stocks fell for a fourth straight day on tuesday. a drop in consumer confidence and worries about a fight over the debt ceiling overshadowing a rise in home prices. now, gas prices are falling. with the national average for regular unleaded at $3.46 a gallon, the lowest since january. analysts cite record high refining falling consumer demand and slumping crude oil prices. >>> lastly, amazon unveils a new kindle fire tablet. the hdx has a sharper screen, a faster processor and comes with a mayday button for 24/7 live video tech support. >> no way. live. you could actually talk to a person? >> i think that's what that is. >> coming up, bill karins and page hopkins will be here for "first buzz" and tell you what caught our eyes today. but first what is the most expensive movie of all time when adjusted for inflation? is it "waterworld," "titanic." "pirates of the caribbean: at world's end" or "cleopatra." we'll tell you when we come back. not found in your multivit

seema mody joins us with a live first look. she's got the device, right? >> i do.d the surface pro 2, both as you can see is thinner, lighter and faster. i want to run through the specs and then take you through a demo. priced at $449. it's meant for personal use, the surface 2. 10.6 inch screen, 3.5 megapixel front camera, 5 megapixel rear camera, low light performance. memory size 32 gig and 64 gig options available. comes with usb drive which is not offered by some of its competitors, that is seen as an attractive selling point. switch over to the surface pro 2. this is meant for the business profegzle. it's a mini computer priced at $899. 64 gig, 128 gig configurations available. talking about a lot more memory space. battery life also increased dramatically. 60% more available than the previous version. both run on an enhanced windows 8.1 operating system. these two tablets will be available for preorder on september 24th, tomorrow. it also -- microsoft rolled out many new accessories including new keyboard as well as new app, it has 100,000 apps available in

. >>> now for business news and seema mody. good morning. >> good morning. the all-important jobs number will be released today at 8:30 eastern. the u.s. economy is expected to have added 180,000 new jobs in august with the unemployment rate at 7.4%. this could be a make or break number as it is the latest report we will get before the fed meets in two weeks. jpmorgan is getting out of the student loan business. that's another story wall street is watching. the nation's largest bank sent a memo to colleges notifying them they'd stop making new student loans in october. >>> new survey shows ecigarettes use -- ecigarette use has doubled among middle and high school students but their growing popularity is prompt something real health concerns among doctors. back over to you. >> seema, thank you. >>> so you football fans, time to listen up because forbes asked this question. is it legal to play fantasy football for money? about 20 million americans draft fantasy football teams. many of you probably already have. and the short answer, according to "forbes" contr

seema mody is live with details. plus, how the markets are reacting to the looming deadline. seema? >>> that's right. treasury secretary, jack lieu, says the u.s. could have less than $50 billion in cash when the country hits the debt ceiling in mid-october. that's less than previously thought because tax receipts were lower than expected this summer. the u.s. has been bumping up against the $16.7 trillion borrowing limit since may. but has employed emergency measures to avoid defaulting on its bills. stocks fell for a fourth straight day on tuesday. a drop in consumer confidence and worries about a fight over the debt ceiling overshadowing a rise in home prices and easing concerns about the middle east. today, with he get data out on demand for big ticket durable goods and new home sales. the dow falling 66 points. the nasdaq edging up by 3. amazon turns up the heat on apple's ipad with two new kindle fire tablets. the hdx comes in two sizes, 7 and 8.9 inches. they have a sharper screen and a faster processor. a may day button that let's users video chat with tech support at any ti

check in with seema mody. take a look at how the markets react on fed decision days. seema, not much of a day. this is a very unusual fed decision day. >> it is. >> really is. >> absolutely. surprisingly tyler and sue, it's been quite positive if you look at history. according to the investment letter since 1994 when the fed began announcing its rate decisions on the day of the meeting the s&p 500 has averaged a gain of .4%. however, the s&p 500 has declined on each of the last three fed days its longest negative streak since 2010. mostly due to uncertainty around whether the fed will reduce its bond asset buying program. while the taper might be priced into the markets experts still say forecasting a cautious day of trading ahead. >> we will see. the volatility will probably pick up. thank you very much. >>> all right. to the bond market which is going to be parsing every single word of that announcement and the news conference. rick santelli is tracking the action at the cme. >> it's easy to tell you what's going on with the yield curve and treasuries. look at inter

cnbc's seema mody. >>> larry summers pulling his name to succeed ben bernanke. the former treasury secretary had faced fierce opposition from democrats, hurting his chances to be confirmed. fed vice chair janet yellen is now seen as the leading candidate to replace bernanke whose term ends in january. >>> president obama speaks today on the fifth anniversary of lehman brothers collapse. he's expected to tout the government's response to the financial crisis including recovering taxpayer money from the bank bailouts. >>> and ford is installing electric car recharging stations for employees at more than 50 plants and offices. ford estimates it will cost 50 cents to fully charge a vehicle, saving workers $2 a day in gas. richard, back to you. >> every penny counts. thank you so much, seema. >>> fear was on the agenda for moviegoers who made "insidious 2" the top movie this weekend with a takeover of $41 million. the robert deniro/michelle pfeiffer mob movie came in second. >>> mariel siebert leaves behind a $48 million fortune. of that, she left $100,000 explicitly

seema mody got to try it on. her thoulgts, but before that, scott wapner, what's coming up on "closing bell"? >> coming up during the most important hour of the trading day, obama care implementation sunday way, but the new health care law is impacting the job market in unexpected ways. that story, plus samsung unveiling the first smart watch, but is it a smart fashion option. time for the smart watch debate, and after the bell the ceo bob benmoschy joins maria bartiromo to co-host. all that and much more coming up on the "closing bell" as mandy and brian return after this. nascar is ab.out excitement but tracking all the action hes l can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center. hp's technology helps us turn millions of tweets, posts and stories into real-time business insights that help nascar win with our fans. ♪ unh ♪ ♪ hey! ♪ ♪ let's go! ♪ [ male announcer ] you can choose to blend in. ♪ ♪ yeah! yeah! yeah! or you can choose to blend out. ♪ oh, y

we turn to seema modi. >> here's the top story. home depot is making changes to their health care plans. they will shift some to public insurance exchanging next year. these let individuals buy coverage under president obama's health care law. >>> and mortgage rates are slipping. the average rate fell to 4.5% this week. the move comes amid-signs the economy may be sleowing. >>> disney is parting ways with jerry bruk hiemer. the man behind the pie the rats of the caribbean franchise will still work on a fifth film but the release of the movie has been delayed. >> thanks so much, seema. >>> warren buffett tells our city station cnbc that the economy is continuing a gradual increase that started in 2009. he likens ben bernanke to a batter hitting .400 in baseball and should be kept on the job. >>> coca-cola is apologizing to a consumer who purchased a vitamin water to find an offensive message. the words "you retard" were printed. that in french translates to late or delayed. the company says they did not mean to offend anyone. >>> sp

seema mody is live. she has all of our business headlines. good morning. >> futures right now higher. stocks closing up on tuesday with a downed s&p 500 ending at six-week highs. investors are awaiting the fed, which wraps up a two-day meeting. they are expected to announce they will reduce their massive bond-buying program which has helped to keep the interests low. the dow rising 34 points, the dow, 7. the white house has filed a petition with the scc to require all wireless carriers to unlock mobile devices so customers can easily switch providers. they say it will make it too easy for consumers to take copyrighted software to other carriers. the white house says it would increase competition. >>> tesla competition is getting into the driverless car game. elon musk says they are working to produce a vehicle that runs on autopilot within the next three years. drivers would be able to hand over about 90% control to the car's computer system. it is interesting to see where technology has taken us. >> it is mind-blowing. pretty soon, we won't

i'm seema mody.street keeping an eye out on apple suppliers which tend to move when we get an announcement from apple. new products could mean more business for these players. qualcomm which specializes in mobile chips, cirrus logic, avaggo and lago are said to have their chips in older versions of the i fon and triquant, nuanced communications known for its voice technology siri, sandisk, flash memory maker boosted its guidance on the move, and my con tech closed its ac questiontition of al pe da, a company set to deal with apple. back to you. >> okay. seema mody, thank you very much for that. >>> part of the reason why stocks are rallying today, were that president obama has okayed a russian proposal to secure syria's chemical weapons. the u.n. will meet in just a couple of hours, but the president still plans on speaking to the nation tonight. john harwood is monitoring the fast-moving situation closely. it looks like key senators are working on a resolution. are we going to get there? >> well, we

seema mody is live right now and has of course all of the details on wells fargo's troubles and the rest of the news. good morning. >> good morning. cnbc confirmed wells fargo plans to cut mortgage related jobs on top of the 3,000 announced last month. the move comes as refinancing slowed as rates have risen and new home sales failed to offsthaet decline. they will try to find other positions for as many people as possible. a look at markets, futures are higher after stocks rallied on wednesday following the fed's surprise decision not to cut back on its bond buying which has helped keep interest rates low. the dow hitting all time highs, the nasdaq at a 13-year high. we good data on unemployment, existing home sales and manufacturing and in terms of the specific moves on the down, 147-point gain, the nasdaq adding 38. the news you can expect extra cash next year. a new survey finds employers plan to dole out raises average be about 3% in 2014, that matches average salary increases in the past two years. 4% of companies say they aren't planning to boost pay. top executives will receive t

seema mody is live with that and of course she has the rest of our business news. good morning. >> good morning. absolutely. good morning. futures mixed as the fed market rally sizzled. the dow stopping a four-day winning streak but on pace for a third week of gains. there is no economic data out today but federal key officials will speak out this afternoon. the dow falling 40, the nasdaq up by 5. they introduced the world to captain jack but now parting ways. disney will end its deal with producer jerry bruckheimer, the man behind the pirates of caribbean and the lone ranger. they will work on a fifth pirates film but that's now been delayed. >> thank you for the update. >> nearly 70 people are missing after a massive landslide in mexico as tropical storm manuel continues to drench the pacific coast. rock tumbled down the hillside in the remote village. the land slide swept away homes, buried half the town and 68 people missing. it was triggered by days of rain. look at all of that water. the death toll has risen to 97. officials suggest some of those missing may

seema mody is live with all of the details for us. good morning. >> good morning, marla. president obama speaks today on the fifth anniversary of the collapse of lehman brothers. he is expected to tout the government's response to the financial crisis including recovering taxpayer money from the bailout, and the bailout of the auto industry. in other news futures higher as invest terse react to the desession by larry summers to pull his name from consideration to replace ben bernanke. summer was seen as likely to raise interest rates. the markets coming off a positive week t dow posting its second best week of the year. we get data on industrial production, later this week on housing. the fed begin as two-day meeting tomorrow t dow rising 75 on friday, the nasdaq adding 6. more on summers. summers move potentially opens the door for janet yellen to succeed bernanke. she was previousliment of the san francisco fed bank. she has taught at cal berkeley's school of business since 1980. >> a local lady. thanks so much. >> a couple of major storms pummeling mexico from opposite

seema mody is live with the details for us g. morning. >> good morning. that's absolutely right. futures now mixed after stocks closed mostly higher on monday, the dow finishing at a more than 5-week high as investors reacted to larry summers' decision to drop out of the running to be the next fed chairman. summers had been seen as likely to hike interest rates sooner than others. the fed, the central bank begins a two-day policy meeting. we get data on consumer prices and housing, the dow rising 118 points. general motors is working on an electric car that can go 200 miles per charge for a sticker price of about $30,000. that's much less expensive than tesla's luxury model. a gm executive disclosed it in michigan while the technology is available now he wouldn't say when the car would hit the market. back over to you. >> thank you, seema. >> the time is 4:47. christina loren is gearing up for that america's cup race. she will bring us the weather reports. in the meantime, while she gets ready let's get anthony on board. >> temperatures today are going to be comfortable, 60, 70.

seema mody is live at cnbc world headquarters on that plus with a look at how the markets are reacting. >> the payroll report will be released at 8:30 eastern. xhifkists expect the u.s. economy to have added 180,000 new jobs in the month of august up from 162,000 in the previous month. the unemployment rate is expected to hold steady at 7.4%, this coming after a series of stronger than expected jobs figures on thursday. today's non-farm payroll data could be a make or break number as it is the latest report we'll get before the fed meets in two weeks and will likely dictate when the fed intends to taper back the bond buying program. futures are mixed. stocks eked out a modest gain for a third consecutive session yesterday as investors released a flurry of reports and ahead of the monthly jobs report. the non-form payroll data will likely set the tone for much of the day's market action. lastly, a new cigarette shows e cigarette use has doubled in middle and high school students. the battery powered devices deliver nicotine in an aerosol mist. their growing popularity has sparked concer

we turn to seema mody.ood morning. >> larry summers pulls his name from consideration to succeed ben bernanke at fed chairman. the former treasury secretary faced pierce opposition from democrats hurting his chances to be confirmed. janet yellen is seen as a leading candidate to replace bernanke whose term ends in january. president obama speaks on the fifth anniversary of lehman brothers' collapse expected to tout the government's response to the crisis including recovering taxpayer money. >>> ford is installing electric car recharging stations for employees at more than 50 plants and offices. ford estimates it will cost 50 cents to fully charge a vehicle saving workers $2 a day in gas. veronica. >> thanks. >>> if it is monday it is richard lui with all your nfl action and more coming up next. create moments of value. build character through quality. and earn the right to be called a classic. the lands' end no iron dress shirt. starting at 49 dollars. [ male announcer ] some things are designed to draw cro

seema mody looked at the numbers for us. >> reporter: tweeting, yelping, tagging, social networking is certainly hot right now but is it a smart investment? with twitter announcing yesterday via twitter it had filed for an ipo, wall street is drawing parallels between that company and other recent social media ipos, many of which have rough starts. four months after facebook listed on the stock market, it lost half the value. analysts were skeptical of mark zuckerberg's ability to make prices. shares tumbled more than 18% due to the slew of downgrades and disappoint pointing earnings. groupon had a great listing soaring on the first day as a public company but the coupon site lost a staggering 86% in one year. what went wrong? one concern was groupon's entire business model that had a low barrier to entry. that was then and this is now. facebook, pandora, groupon up double digits over the past through months thanks to more users, a stream line focus on mobile, commentary from wall street and silicon valley. >> i think recovering, proving that mobile can generate revenues, it makes sens

seema mody live at cnbc world headquarters with a look at how futures are trading. >> good morning. stocks are off to a rocky start but managed to close near session highs yesterday after the fed gave an upbeat regional assessment of the u.s. economy and even as the white house continued to make its case for military action in syria. we get data today on factory orders and chain store sales. ahead of the open futures are mixed. let the smart watch wars begin, samsung beat apple to the wrist when it unveiled the new galaxy smart watch which comes equipped with voice capability and a big speaker. qualcomm announced their own toq device ahead of an event next week at which apple is expected to reveal the new i watch technology. if you're thinking about getting a french press, you may want to rethink the idea. company's soup announced it will sell soup k cups to keurig brewers as campbell looks to make soup more convenient. the new one-minute dish which will include a k cup of broth that can be brood over a pact of dried noodles and vegetables will be marketed and offer three flavors in

. >>> and now for your first look at business, we turn to see made hoed seema mody. >> stocks rallieddnesday following the surprise decision not to cut back on the bond buying program. ben bernanke citing strains on the economy and fiscal fight in washington. the dow and s&p 500 hitting new all-time highs. in other news, you can skekt more cash in your paycheck next year. a new survey finds companies plan to dole out raises averaging about 3% in 2014. back to you you. >>> well, disney is delaying the release of the next pixar move vitt good dinosaur until 2015. that means there will be no pixar film in 2014. that will be the first one since 2005. >>> the first invisible skyscraper is planned for south korea. the glass encaskacase tower wil appear invisible. very cool. >>> and grand theft auto 5 is leaving everything in its dust at a cost of around $130 million to make, gta 5 took in $800 million in just one day. selling 7.5 million units at about $60 a pop. a lot of gamers out there. >>> coming up next, sports headlines with richard lui. but first, massive flooding in the mexican reso

. >>> for your first look at business, we turn to seema mody. good morning. >> good morning. starbucks is asking customers to leave their guns at home. that is the story we're watching. the company says the move is a result of an increase in, quote, starbucks appreciation days. where gun rights advocates show up at stores with firearms. starbucks is stopping short of a full ban. walgreen's plans to shift thousands of workers to private insurance exchanges starting next year. the drug store giant will provide payments to employees so they can buy their own coverage. and tesla motors is getting into the driverless car game. the ceo says the luxury electric car maker is working to produce a vehicle that runs on autopilot within the next three years. love to see these developments. >> i don't know how i feel about driverless cars. thanks so much. >>> super storm sandy may be to blame for last week's horrific board walk blaze. investigators are blaming flooding for causing damage to electrical wire and equipment which sparked the blaze. the massive fire destroyed over 50 board wal

let's see seema mody. good morning. >> scott, good morning. futures are higher after stocks fell for a fifth straight day, s&p 500 suffering its longest losing streak of the year. some positive economic data we got out earlier this week. today we do get reports on unemployment, housing and a final look at second quarter gdp which may somehow sho that the economy grew more than thought. 3751 although well above that 3700 level that technicians watch. >> seema mentioned the unemployment numbers. california has had trouble with computers. unemployment checks have not gone out and data about unemployment claims has not gone out to the feds. california blames the software upgrades, says most of those problems have been sorted out. we'll know when the numbers come out around 5:30. >> you know what else we know, a little birdie told us. it's your birthday. >> it is. yes. >> we had christina's on monday and scott mcgrew. >> we have cake all week. >> sweet. >> very excited. >> he's a boy. >> a lot of birthdays. fun to celebrate. >> his birthday and min

seema mody has more. good morning. >> good morning, scott.s you pointed out it was a big day on wall street and right now we're looking at futures higher after stocks rallied on wednesday following that fed surprise decision, not to cut back on its massive bond buying program which has kept interest rates low. the dow 500 hitting new highs, we saw the nasdaq closing at 13-year highs. we have data on unemployment and manufacturing so make sure to watch out for that in terms of the number, the dow 150 points t nasdaq adding 38 to close at 3783. disney delaying the release of the next pitcher movie. that means no pixar film in 2014. dinosaur which is based on the premise that an asteroid hit the earth has been plagued by production problems. pixar removed the director, the delay also pushes the release of the finding nemo see equal to 2016. back to you. >> ah. thank you much. tale of two phone companies. canada based blackberry is going to lay off half its entire staff. there is no way blackberry can continue at half-staff so we can kind of call

let's check the numbers with a look ahead with seema mody. good morning. >> good morning. that's right. dow s&p 500 snapping a five-day losing streak, invest terse continue to worry about the budget and debt ceiling fight in washington, d.c. remains at a standstill as we near on the eve of a government shutdown. some reports today to keep an eye on. personal income, consumer sentiment and prices. we are looking at futures slightly higher. >> thank you. have a great weekend. we're getting closer to basketball season. golden state warriors report for practice on saturday and warriors owners continue to work on the plan for a state-of-the-art arena at the base of the bay bridge. here is an artist sketch. san francisco, by the way, the only major city without an arena. if you don't count the cow palace. will this get built? i put this to the warriors president. >> we have picked the most regulated piece of real estate in the universe in which to build the most special arena ever conceived so we have a process we've embraced. we knew it going in. it's a lengthy process, but we

let's head to the nasdaq and seema mody for the action there. seema. >> a lot of focus on the smartphone space, not just because of the microsoft and nokia day. invitation for apple for the september 10 event. let's switch now to the biotech space because regernlgon pharmaceuticals, and regeneron not the only ones on the move, biogen and amgen and others moving to the upside and that's helping the biotech index outperform the major indices, so while the markets seem to be on edge, biotech, that will mean a source of strength. simon and sue, back to you. >> interesting. thanks very much. to chicago and the bond report with rick selly. >> thanks, simon. all you have to do is look at this chart of the dow and remember around 11:18 to 11:20 eastern when mr. boehner spoke, you see what happened to stocks, but here's what you won't see on the next chart, won't see the same thing happening in the ten-year note rate. at 10:00 eastern the ism rate is up but haven't come down, haven't intersected the range we had before that data, so once again not symmet

seema mody, over to you. >> social networking is proving to be a profitable sector.edia etf of probably 50% this year. it hasn't been a smooth road. shares of facebook were down 50%. analysts unconvinced it could grow its mobile business. the stock tumbled 18% in the first three months of trading due to a slew of downgrades and disappointing earnings. but that's then, this is now. group-on, facebook, pandora, over the past three months, more people are using their services on mobile devices and positive commentary from the streets. wall street's growing appreciation for social media has helped linkedin trade above their price. maria, back to you. >> all right. thanks so much, seema. goldman sachs investors, kayla tausche is reporting. let's ask brian what that might mean for the banking giant. brian, would you guy goldman on this news? >> it's a good pr move for goldman sachs here. the bottom line is, twitter itself is going to be a phenomenal ipo. but for goldman sachs, it's not a huge income generator here. lending is getting a little bit tighter, but i'm not a big

seema mody is live at cnbc world headquarters. good morning. >> good morning. that continues to be a big market mover. we are seeing futures mixed after stocks fell for a fourth straight day on tuesday. a drop in consumer confidence and worries about a fight overshadowing a rise in home prices as well as easing concerns about the middle east. we get data out on demand for big ticket durable goods and new home sales. the dow falling 66 points. the nasdaq edging up 63. fueled by some internet stocks that have been on fire. >>> 5:13. i'm sure mike will remind you. howard at third street closed again today for oracle open world. it has caused a shortage of hotel rooms in san francisco. you have open world and the unexpectedly long america's cup. larry ellison blew off his own keynote at the conference to attend the sailing competition. i was reading and struck by this. oracle open world is so big, the population of san francisco rose by 7%. >> no kidding. >> i had no idea it was that big i knew it shut down roads >>> crews in southern california making progress aga

seema mody live at world headquarters. good morning. >> hey scott. you got to look at these market futures sharply higher as investors react to the decision by former treasury secretary larry summers to pull his name from consideration to replace ben bernanke. summers has been seen as likely to raise interest rates sooner. the markets right now coming off a positive week for the dow posting its second best week of the year. we get data on industrial production and later this week on housing. the fed begins a two-day policy meeting tomorrow. the dow rising 75 points on friday t nasdaq adding about 6. you got to look at the markets, scott. >> thank you much. jon and marla, summers' decision to pull out running the fed for the fed chair paves the way for now vice chairwoman janet yellen assuming she wants the job. president obama reportedly annoyed at some pushing to have yellen appointed because the fed's not supposed to be political but jon and marla, in the course of washington, everything is political. we're going to talk a lot more about yellen, wh

seema mody, kayla tash shi, we approach it. >> fire raging in the storm battered town of seaside heights. that's a town ravaged by last fall's superstorm sandy. they're reporting that 80%, 80% of the boardwalk has already been destroyed. we're going to go live to the shore a little later this hour. >>> switching gears now. all of a sudden government shutdown looks closer and closer. the deadline, as you know, is september 30th. a republican push to defund or delay obama care is at the heart of the latest budget standoff. you know what, right now it's republican versus republican rather than the gop versus the dems. let's talk. here is politico reporter jonathan strong from the national review. thank you, jonathan. i don't really get this because it's kind of a moving target. first some of this was going to be defunded through the cr or it was going to be defunded through the debt ceiling. they don't have a quorum majority inside the gop. tell us what's happening. >> good evening. it's a very fluid situation on capitol hill. majority leader eric cantor introduced his proposal to force a v

seema mody is live. good morning. >> scott, tgif to you.arket rally on thursday. the dow and s&p 500 snapped a winning streak but on face for a third week of gains. no economic data today but several key officials will speak this afternoon. the dow falling 40 points, the nasdaq up by 5. back to you. >> seema, have a great weekend. the internet moves and trends, second hand old cotour. traded among people sell used expensive high ticket items. really rich women are doing a lot of the selling. why do rich women need to sell their shoes? leah parks says it appeals to their vanity. >> it's the privilege of having it first, and so now they can show off what they have and it's more and more women want presence on line so this is a way to get people into their homes, to understand what they have achieved. >> we'll take a look at this, this weekend after "meet the press," also talk about other issues but i think this is fascinating, this idea of buying used clothing in the thousands of dollars. >> exactly. i'll wait for my prada bag. >> i figure yo

seema mody is there with the details as well as a look at how apple's announcements today are impactingr stocks. seema? >> let's start with the tech rally fueled by shares of netflix. netflix striking a deal with virgin media. other big winners, micron tech, seagate technology and expedia. apple was on that list but after it unveiled two new iphones, the 5s and 5c, shares moved lower. a different picture when you look at some of the stocks in apple's ecosystem, arm holdings, shot up right after we got apple's iphone announcement. other names that potentially do business with apple, qualcomm, sandisk, nuance and triquint semiconductors. >>> our next guest is former mayor of new york city. he was in office 12 years ago tomorrow when the terrorists truck the world trade center. >>> and syria is front and center on the world stage. joining us now is former new york city mayor, rudy giuliani. great to have you here on the "closing bell." >> always great to be here. >> great to see you. >> good to see you too, maria. >> it's hard to believe it's been 12 years. we'll reflect on that but let's

seema mody here with a first look at the new surface. seema? >> all right. brian, hi there.are live at the microsoft event and this is a bigger take away from this surface 2. it's basically the power of a laptop in the tablet package. what i have in front of me right here is the surface 2. priced at $449. this is one of two surface tablets that are being unveiled today. the other one called a surface pro 2. run through the specs. for the surface 2, priced at $449 which is competitive with the apple ipad 4. powered by an n video chip. it has a full size usb port, 34 gig, 64 gig configurations. xbox music and surface pro 2, a mini computer targeting the business professional. it has a 64 and 128 gigs. a lot of memory space. battery life has -- it has increased dramatically by 60%. also runs on enhanced windows 8.1 operating system. another major take away, microsoft is trying to target the consumer at home and business professional with these two next generation surface tablets. back to you. >> thank you very much for that. sounds like someone is doing loud vacuuming in the ba

dominic chu and seema mody are here. stick with fantasy football.h attention to their finances as fantasy football. would we be better off? >> if they do they would be better off because so many people love fantasy football. it's a cult. you spend so much time getting your research done, lining up your teams. spoke to jim cramer before i got on set whether i should start again tonight. pierre thomas as a running back or mike wallace. >> and you played it too. >> yeah. i did a little research. wonder if there are parallels between fantasy football and stocks. with fantasy football, you're looking at historical data of players and then making -- trying to predict what their future performance will be. sounds like what analysts do as well. >> that's no guarantee of future success. >> tells you why a lot of players, the millions that play this, are typically wall street guys, maybe portfolio guys who look at research and build models. >> you who do you like the saints or dolphins? >> i like the saints. >> you have a pick tonight? >> oh. >> seema? >> i'l

. >> seema mody, thank you very much. >> that will do it for this edition of "power lunch." thanks for joining us. >> "street signs" begins right now. see you tomorrow. >>> so much for the new iphone pop. apple shares one of the worst performers of the s&p 500 right now. we're going to dig into why and what it will take to turn it around. but you'll never guess which company has been absolutely on fire lately. here's a hint. it's an old-school retailer and its name is not jc penney. plus, bubblish shus. one of america's top real estate tells you if he thinks we're in a bubble market. a fast food fight to make john be lieu she happy. see if you can guess what i am right now or not. >> or not. >> if we can just manage a gain of two points on the s&p right now we've got three, the s&p will have clocked up seven days in a row of gains. and wiped out all of its august losses. we're going to stay on this stra jektry. for the nasdaq it would be positive if not for apple which is having its second worst day this year. more on that in a second as brian said. down to the trading floor

seema mody has more on ceos who have done well. >> that's right.hat blackberry has been struggling. blackberry smartphone market share from 46% to just under 3% in 2013. grand, that ceo thorsten hines became ceo in early 2012, he still hasn't been able to revive market share. that's why hines' pay package is sparking such outrage. he's not the first executive to be at the center of this type of controversy. michael ovitz reportedly walked away with $130 million after ousted from disdmi. bob nardelli pocketing $210 million even though shares of home depot moved lower under him. henry mckinnell with $196 million after leaving pfizer. and tom preston walking away with over $100 million after the closing of viacom. and stan o'neal, at the helm of merrill lunch, he was ousted after the brokerage posted biggest quarterly loss but that didn't stop him from walking away what is estimated to be $161 million. will this ever change? that's the big question. i spoke to a columbia business school professor who says it ultimately comes down to the board putting

seema mody here to look back at how other social media stocks have done since their ipo. >> mandy, it'set that of late, social media stocks have been on fire. the global social media etf up roughly 50% this year outperforming the s&p tech sector and not to mention the overall markets. but it's taken some time for wall street to wrap its head around the concept of social media. ability to monetize mobile. very similar for pandora. shares were down 18% in the first three months of trading due to a slew of downgrades and disappointing earnings. groupon had a first day but quickly erased gains, losing 86%. one of the concerns on the street is groupon's business model. that was then and this is now. facebook, pandora, groupon, double digits around growth but key is mobile. what does this mean for twitter? many capital venture firms says wall street's recent appreciation for how broad social platforms can generate meaningful revenues will help twitter when it lists on the market. >> seema, thank you. will twitter's ipo groupon is up 140% year to date. tell us why there's not just a mini bubbl