whirlpool is recalling more than 40,000 ovens because of a fulty oven rack. one reported second degree burns to the back and arm. the oven racks can call out. it sells for about $5,000 at sears and other stores. thinking of changing your smart phone soon? experts say now is the time to trade in your iphone if you want to get the most money. the value of iphones could drop in just a few weeks when apple is expected to release a new model. the website anticipates values of current models and says it will drop 10% in september and 30% in november and december. >>> southwest won't have to change its bags fly free slogan. the airline has confirmed it would stick to the policy of allowing two free checked bags. jet blue eliminated a similar policy. the southwest airline fears it will lose customers if it does away with the free bag. >>> thank you. >> let's go outside. the heat you will be glad to know is beginning to abate. >> meteorologist sandhya patel is outside with the latest. >> we are losing some of the steam. right now behind me i can see the fog coming in

quickly realized that their boats were completely at the mercy of the current; if it led a boat into a whirlpoollleagues recently conducted a study indicating that having a mission in life can "help stave off cognitive decline and promote a broadly healthier, longer life." when you set and pursue meaningful goals, you help your brain, your body--your life. there are so many ways to add purpose to life. and it doesn't need to be anything grandiose. "the first step," dr. boyle explains, "is to think about what is important to you what energizes and motivates you, what gives you the sense that life is meaningful." some volunteer to help those in need. some become mentors, sharing their wisdom and experience. others focus on self-improvement, learning a new language or a new skill. one young man spends months training guide dogs for the visually impaired. a busy young mother finds a few minutes each morning to think of ways she can influence her children for good. a grandma, who can no longer write, makes calls to friends and extended family members on special occasions. each, in his or her own way,

. >> adams steered a very careful dangerous, treacherous, even course among the shoals and the whirlpools of diplomacy and managed to keep america neutral not to side with either england or france. >> and franklin is somebody who believed in moderation and compromise. he thought he could negotiate a settlement between britain and america. but by late 1774, he's fed up, he's given up and comes back to philadelphia, in 1775, declares he's a rebel is for the revolution and became one of the honest patriots. >> rose: david remnick looking at obama's america and some elite historians looking back at the founding fathers who created it all. captioning sponsored by rose communications >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: on this independence day, we begin with a look at this moment in american history, the events of the last few weeks have brought sweeping change in the united states. they've also revived president obama's momentum in thi

whirlpool and caterpillar mention lower sales in latin america. the largest of the latin america etf's has seen very heavy volume. traders have been aware of these problems for some time they've already lightened up on commodity's stocks and the global industrials. however, they have piled a lot of money into three other groups. first into banks on expectations of higher rates. second into health care mostly biotech, and third tech and internet stocks particularly the big four apple, facebook google and amazon any sign that these three groups are falling apart will elicit panic among traders. so far that has not happened. that's why amazon's surprising swing to a profit after the close is a big relief to investors. for nightly business report. >>> a whopping 54 companies in the s&p 500 reported earnings today, making today the busiest day of this earnings season for mcdonalds to general motors to underarmor dominick chiao rounds up the reports. >> mcdonald's, the world's biggest fast food restaurant chain reported earnings that topped analysts est

companies from caterpillar to whirlpool express concern about the slowdown in change in a, there are new worries about the effectiveness of beijing's efforts to prop up the market. by the close, the dow jones industrial average suffered its first five-day losing streak since january falling 127 points to 17,440. the nasdaq dropped 48 and the s&p sank 12. what triggered the big global selloff. >> mainland china stock markets equities plunged more than 8%. that's on signs that beijing may be backing away from supporting the market while concerns over economic health soured sentiments even further. the largest list of companies, fell 8.6%. while the shanghai composite lost 8 1/2% as you see here the drops were the biggest since february 27th 2007. investors have been hit by the data showing that china's industrial firms dropped 3/10 of a% from a year ago. . index heavyweights including bank of communications petra china, all slumped to their daily downward limits of 10%. that's where we stand, back to you. >> the route in china also knocked the price of some key commodities today, oil a

whirlpool is out. >> this quarter they make big. they're inconsistent. it's short, it's long.t's interesting that ge had been able to sell their appliance business to electrolux people would have said -- whirlpool, if they reduce the expectations so much they finally beat expectations. >> a lot of companies doing that. >> there is. do you think boeing is doing that? i think they're playing out good but people saying this is his last quarter, jim mcnerney. it was a true blow out, the cash blow. congratulations jim mcnerney going out at an absolute high. >> unbelievable. 197 commercial airplanes delivered in the quarter including 34 dream liners. boeing's quarter is amazing. >> remember when they gave up on the d liner? i wish him great things. he's going to stay on for a while but what a great quarter to go out on. >> we'll get a lot more on boeing and a bunch of other places reporting. we'll count down to the opening bell. for "squawk on the street" is straight ahead. behold, these are two wind turbines. can you spot the difference? the wind farm on the right was created using

i remember when whirlpool bought maytag because there was a whirlpool plant in my state of arkansas. i remember when this plant closed and the ft. smith whirlpool plant closed and the searcy arkansas plant closed and we lost all of the jobs all went away to mexico. all of you, perhaps some of you may have worked there and lost jobs. i'm tired of seeing america lose jobs. i'm tired of seeing americans work year after year really hard at something only to find one day they walk in and they are told their job is gone. the president has been telling everybody the economy is in recovery. i don't talk to a lot of people in places like this why people say yep, the economy is just doing swimmingly well. people tell me quite the opposite. the economy is not recovering for many working americans. if anything, it is struggling because so many people had a good job a few years ago that paid benefits and a pension and today they are working two and three part-time jobs and no pension or benefits at all. a couple of weeks ago i was in akin, south carolina. and we were spending a day there and stay

. >> if that wasn't enough tom is jumping into whirlpools, driving speeding cars and crashing motorcyclesithout a helmet. >> you go i think this will entertain an audience and i want to entertain an audience. i make my films for the audience. >> reporter: joining it is allen baldwin and jeremy renner, ving reigns and simon peg who got in the prank war with the action man. >> wow wow wow, a minute ago were you dead. >> what are you talking about. >> this will not end well. >> this is dangerous are. simon, this is dangerous, you cannot turn heat on in my car. i am driving the car. this is very dangerous but he kept turning on my heat warmer, in my seat. we kept going back and forth in the middle of this car chase. >> for entertainment tonight i'm kevin frazier now back to you in the studioy love my heat warmers but maybe not in the high speed chase. we will take a short break. but first here's is what coming up tonight on cbs-3. we will be right back. i'm so not ready for back to school. with staples, you'll be ready. i can get 30 comp books and notebooks at a low price? yep, 50 and 25 cent

. >>> to the index, a major recall whirlpool tonight recalling 40 thousand of its jen air ovens after reported injuries when the oven racks fell causing second degree burns. we have much more on our website for you. >>> new meaning tonight to the phrase old reliable. the average vehicle in the u.s. is now 11.5 years old. that number setting a new record. >>> we have a passing to note tonight, rich fly sack a member of our abc news family killed in a car crash last night. he was 53. as our president james goldston said today, he helped build our organization from the ground up. our second loss in the d.c. bureau in a number of weeks. >>> when we come back we're going to switch gears tonight. made in america is back and the family that turned their kitchen recipe into a lot of money. we ask, is the next idea in your kitchen? kellogg's® frosted mini-wheats®... ...8 layers of wheat... ...and one that's sweet. to satisfy the adult.... ...and kid - in all of us. ♪ ♪ nutritious wheat for the adult you've grown into. and delicious sweet for the kid you'll never outgrow... feed your inner kidu

adams steered a treacherous course among the shoals and whirlpools of diplomacy and managed to keep americaeutral not to side with either england or france. charlie: these people who have been so lionized, this notion that never before, never since in the history of mankind have so many brilliant, wise men come together to do something so important. guest: there is great deal of truth to that. they were fallible human beings. several of them were clearly brilliant beyond almost anything we can truly or fully fathom. charlie: who is on a list? guest: hamilton was brilliant. george washington was an immensely intelligent man. he was not learned here he was not an intellectual.. he was a great natural born leader and a man with phenomenal self command. charlie: early on in support of who ought to be leading the revolution -- guest: he put washington in nomination to command the continental army. he said jefferson ought to write the declaration of independence. he put john marshall on the supreme court, maybe the greatest chief justice we ever had. i think washington's greatest quality was that

greek parliament is set to about to pull greece out of the of whirlpool -- it prime minister tsipras tries to call a the revolts from members of his own party. look at how was started 30 minutes ago anarchist begin to throw those firebombs at riot police in these nine games that are played their starting fires and the dancing and retreating. said in the far back to see the police who are trying to protect to keep the people like that away from the parliament you can see these protesters are wearing of a gas mask and some are making their own at this hour so it could get worse. we break-in several voices but now a member of the independence party is encouraging him to stay and paid no on the deal that the european union should not shoulder the never ending that. with those buildings that are surrounded that is one of the buildings and police are working very hard to keep control of what appears to be a growing situation. you can also hear what sounds like fireworks. we don't know if those are bullets but it is an expanding and situation we are keeping a very close eye on. nigel we wil

i remove or when this plant closed, i remove or when the whirlpool plant closed.arkansas plant close. we lost all the jobs to mexico. a lot of people you know, perhaps some of you for all i know may have once worked there and lost jobs. i'm tired of seeing america lose jobs. i'm tired of seeing americans work year after year really hard at something only to find one day they walk in and they're told the job is gone. the president has been telling everybody the economy is in recovery. i don't talk to a lot of people and places like this were people say yes, the economy is just doing swimmingly well. people tell me quite the opposite. the economy is not recovering for many working americans. if anything, it struggles because so many people had a good job a few years ago that paid benefits and even a pension. today, they are working two and three part-time jobs -- no pension or benefits. a couple of weeks ago i was in aiken, south carolina, we were spending a day there at the fairfield inn. a nice little hotel, and lets you have free internet and free breakfast. we a

whirlpool, u.s. construction, fantastic. i think brazil is another thing we have to keep on the radar screen. russia is bad. brazil's brick is just hard. there is an i in it and it is india. >> texas based tier read celebrating its listing today. an online banking platform for small bank lending celebrating its ipo. ferrari ferrari lifting for an ipo. no symbol given. >> everything he does is exciting. he is the lone one from fiat. he is a very forward-thinking guy. fiat and unilever are both the two stars in their different businesses. remember. they are not headquartered here. they are beneficiaries of the strong freaking dollar. >> the super freaking dollar. >> got it. >> some of these san disc is up 15%. 66 cents. >> the analyst, i want to praise roman shaw. when everyone loved it at 105, he downgraded it. he reiterated to sell at 81. he said at 67 still at risk. july 20th he upgrades it. that's what we want from analysts. people got too negative. i went through the call. they have a lot of new products and interesting n

whirlpool right now trading down by 1.7%. >>> the small caps have been a standout this year.ndex up 3.5% year to date. should you expect big things from small caps in the second half of the year? lamar, great to have you with us. with concerns about greece concerns about china and the u.s. economy looking pretty good, are small caps the best defensive sector right now? >> we think they are. small caps have had a good run this year but if you look over the last 12 months it is basically a dead-heat between the large and small cap industries. they're both up about 6%. we like small caps here because if you want to avoid greece if you want to avoid china and if you're worried about interest rates rising and so thus some of these large cap stocks that really trade like bonds, some of the telecom services utilities, reits, as interest rates go up -- which, by the way, they have already and look like they'll continue to. as interest rates go up, those stocks are the ones set up to get hurt. we think small caps where you are able to see growth over the long term is really where you

. >>> whirlpool issuing a massive recall on aed pro duct that could put you at risk of getting burned simonetti from fox business is here with the details. good morning, loren. >> good morning, ladies. so all of you cooks out there listen up. whirl wool is calling back 40,000 again air single and double wall ovens because of faulty oven racks that could cause burns. stop using the rack and contact them if you are affected from the recall. google developed a way you can search businesses around the world to see when they are busy. check out the cart for blue bottle coffee in brooklyn new york. you can see how crowded it is from google search on your phone. if if you are headed to mcdonalds you may want to say good-bye to the cashier. mickey d's is starting to roll out self serve kiosks. some of the kiosks taking almost half of the orders during the busy hours. >> cha-ching for garth brooks he tops the forbes list of the highest paid country acts raking in $90 million in the past year. that is considerably more than toby keith number two on the list breaking in a near $53 million. >> he

whirlpool may have issues overseas in brazil and europe, but what sent that stock soaring yesterday was the strong business it is doing in the u.s. and that was echoed by the giant by owings corning, the insulation company. just as home depot said when it reported now that home values are going up homeowners are once again after years and years of starving are investing in their homes. don't forget household formation going up. as long as people thought their homes could lose value no one wanted to spend much more money. but a house that goes up in value, especially new household creation that's worth renovating. final thing, rearmament. something amazing is happening in the world right now. we're making a nuclear deal with our old sworn enemy the death to america crowd in iran that will let them export whatever they want. namely oil. which is about to crush the market and has already obliterated our shale sales. the fact that it's happening because the president and -- which means that every country in the region that fears iran's primary export terrorism is rearming and rearming in a

. >> i want to bring the conversation back, quick ly whirlpool was down 5% and ipm -- >> not about thet. >> i know that. i know that. >> starbucks just -- >> overall, in terms of china in the earnings picture -- >> scares me more than anybody else. with that said, no effect to date on our stock market here, which is what is our focus. real quick, you know, caterpillar, douglas speaking about the buildup in 2012, at what environment does their stock ever do well? that's a good question for him. what do they need to happen? none. >> none. >> that's everything. that is the problem. >> elevators and caterpillar is not the chinese consumer. two different worlds. >> let's continue with caterpillar. down more than 3% in today's session on the back of earnings. mike, do you see it? >> this was a stock a lot of people were shortcoming in to earnings, four times the daily options buying today and you might expect to see short covering. what we saw was buyers of the july 31, paying 40 cents and that's that the stock could drop 4% over the course of the next nine days. seems like people are pressi

. >> that is the wrong door good if that was in the enough tom is jumping in whirlpools, driving speedingd crashing motorcycles without a helmet. >> there is something where you go you get to entertain a audience. i want to entertain a audience. a all of my films i make them for the audience. >> reporter: joining tom are franchise new comerral he can baldwin and returning team members jeremy renner, ving reigns and simon, who got in a prank war with the action man. >> wow, wow, wow are you okay to drive? a minute ago were dead. >> what are you talking about. >> this will not end well. >> while i'm driving the car, okay, i said this is dangerous. i a said simon, this is dangerous, you cannot turn the heat on. i am driving the car. this is very dangerous. but he kept turning on my heat warmer on my seat. he kept going back and forth in the middle of this car chase. >> hang on. >> for entertainment tonight i'm kevin frazier now back to you in the studio that will do very well. >>> that is "eyewitness news" 59:00, now at 6:00 a mother is murdered in her own home, tonight the the new video tha

i remember when this plant close to i remember when the fort smith whirlpool plant close. i remember when the arkansas maytag plant close. we lost all those jobs. every one of them. all went away to mexico. a lot of people but you know, perhaps some of you for all i know, may have once worked there and lost jobs. i'm tired of seeing america lose jobs. i'm tired of seeing americans work year after year after year really hard at something only to find one day they walk in and they are told the job is gone. the president has been telling everybody economy is in recovery. i don't talk to a lot of people in places like this where people say yes, the economy is just doing swimmingly well. people to me quite the opposite the economy is not recovering for many working americans. if anything it struggles because when people have a good job a few years ago that the benefits and even a pension and today a working two and three part-time jobs, no pension, no benefits at all. a couple of weeks ago i was in aiken, ma south carolina. we're spending a day there and we were staying at the

it was unbelievable, with just a whirlpooling effect. just how quickly the water was moving and you had large land masses falling in. you had trees falling in. you had homes falling in. i mean, it was absolutely unbelievable. >> i was extremely upset because now i saw the first two houses go through the gorge and ours was, like, the next house in line. >> it's a wrenching scene with their beloved house teetering on the edge of the shore. the frams leave to spare themselves from seeing what happens. soon after, the cherished family home, built with care from the ground up, slips into the water intact and floats down river as if weightless, before disappearing into the churning mud and rapids. the frams are not alone. their neighbors, the kubinicks, are away when they get news their vacation home is in danger. >> my neighbors called me and told me the house might go down. >> the house breaks in half. hours later, the kubinicks arrive to an unimaginable scene. >> everything was gone. house was gone. everything. >> in a mere four hours, lake

and trapped in the trashing whirlpool of water and foam.uards from the nearby beach rush to the scene on a wave runner. they're trained to combat the monstrous hawaiian waves. but have never had to fight anything like this before. to attempt the rescue, it takes two guys. one to drive and one to swim. they know that one mistake could mean smashing into the sharp rocks and becoming victims themselves. as high tide approaches, they do their best to time lulls between the swells and get close enough to grab alexander. watch how the lifeguard tethered to the wave runner is at the mercy of the sea. >> so, they had to quickly shoot out of the cove and wait for the next lull before they could come back in and this went on for, it seemed like an eternity. >> in fact, after more than two hours of harrowing close calls, they're still no closer to a rescue. hugh alexander is now exhausted trying to stay afloat and alive. and then -- >> hey, come on out. hey, no. hey! >> conditions seem right for another rescue attempt and alexander appears for the sec

the opposite was some of these companies that sell into homes leak the whirlpool quarter was strong for the u.s. watch visa him you got to read the conference call. i know they're really pain. . i was coming back from the hamptons, i'm reading and you are like do that like what? >> we'll get more from mastercard on wednesday as they report. you mentioned amazon and google are up in the pretty tough taping. >> i mean white fang and black tooth being the rest of the market. i only say that because david neighborer is not here. he did not know soupy, which is very painful. >> in terms of the indexes, the do you is below 17.5. i noticed today, half of the dow is in correction mode. cash intel, dupont, wal-mart. imx. >> rough names. >> there was one moment where the ceo was like yeah i know we're bad. i know we're disappointed. i don't like disappointment. geeze it's like you bought the to go. meditation. you don't go in there to say that stuff like maybe some you know geter living from chemicals. you don't go on your conference call unless you expect to be vis rated and sell sikorsky. when

there were whirlpools coming up everywhere, there is the image of the river, old man river this lazyiver, but all it takes is to stand on the bank during a flood and watching it is the last thing -- watching it, and the last thing you think of is an old man. it is a very, very dangerous at river at any stage -- dangerous river at any stage but especially at flood stage. and the people on this boat were the last people you wanted to subject aboard -- subject to this kind of situation. many had to be carried on board. katty: tell us about that night the sultana leaves of vicksburg very crowded. what happened? alan: it stops en route to memphis in helena, arkansas, and at that point, the only known photograph of the sultana is taken by a photographer named t. w. banks. katty: so it is midnight? alan: this is the day after it left vicksburg, it docked there to i presume a take on more coal, because that is usually why steamboats stop, to pick up passengers or discharge cargo. even at this point the sultana did have cargo that it was bringing up river from new orleans. you mentioned that

the fortune brands and whirlpool.e like that theme and these are all themes that are working in a constrained environment. now, cameron, you'll see that cam, they call the bottom, in deep water oil. core labs says it's a v. they say u.s. oil production they know more than anybody. he said u.s. oil production peaked in april. we'll be in supply demand balance by the end of the year. he said it's going to fall and now he's calling a bottom. it's not like other people who called the bottom. he called it yesterday saying the supply and balance by 2015. that fund has got to be revealed before this thing bottoms. >> that's an interesting piece of information in terms of his call. all right. let's get to the broader market as well and get bob in on this. he's on the floor. >> reporter: very mixed open. consumer discretionary is strong. what an ugly week it's been for the dow. everything that's important that's reported this week has been a mess and it's dragged the dow down significantly. united tech at the open down 9% for

house appliance maker whirlpool may be factoring into that trade.me builders in focus. >>> some people like new york style. some like chicago., the deep dish. we might have to start giving portugal style a pizza a trial if this video is any indication. 26 of the best pizza pros in than country competing in the portuguese championship of pizza in porto. pizzas were judged on two criteria, taste, of course and beauty. every attendee got the chance to taste the slices of their choice and some of the more acrobatic styles of pizza making. >> am i missing something? one of those pizza bases that the guy was tossing had massive holes in it. >> it looked like a swiss pizza. all the mozzarella would fall right through. looks delicious. that and some hard lemonade and you've got a whole meal. >>> angie's list fell short of expectations as memberships fell 26%. angie's list posting steady losses since going public in 2011. shares down by 20%. >>> amazon expanding its handyman on demand home services division to more cities across the u.s. the service connects

we saw whirlpool. caterpillar. also specifically mentioned the weakness in latin america.you look at brazil this week the ewz is the major etf for brazil. that's been sliding all throughout the week. also on concerns about slower growth in that particular country. you're right on china but i also want to point out latin america is a big problem as well. the slower global growth. the commodity implosion and the simple lack of any kind of real earnings growth. third quarter earnings are now negative. we were supposed to be positive in the third quarter and a real rebound in the fourth quarter. now they're starting to take down numbers there. this is all feeding in to sort of the negative sentiment that we've seen throughout the week. >> kenny polcari also joins us on the floor. it is easy to say we got some negative data but it is 2:00 on a friday. >> right. >> toward the end of the week toward the end of the month. this is generally the pattern that we see. >> especially in the summer. because it is typically lighter volume. it is still lighter volume. you can sense if ther

. >>> we've got consumer headlines for you now. 40,000 whirlpool ovens are recalled because the hot racksast eight incidents have been reported including one customer with second degree burns. >>> hate long lines? google has you covered. the company adding a tool to the search bar showing thousands of businesses you visit online. >>> angry birds 2. the se get to one of the most successful games ever out today. the new fee which you are including choosing which bird you fling. what an improvement. >> thank you. >>> a united states postal work per wrote about this encounter with a young boy. today while delivering mail to his apartment complex, he asked me if i had extra mail he could read. let's get this 12-year-old some books. he's counting on me, so i'm counting on you. so far, 500 books have been delivered. how about that? he joins us with the-year-old matthew flores. thank you for being here. matthew, for anyone who hadn't heard this story, tell everything wanted you wanted junk mail from the postal man. >> i wanted to read. i enjoy reading, i like using my imagination. it's really fun

whirlpool is calling back 40,000 jen air, single and double wall ovens because of a rack that can falltop using the rack and contact them if you're affected by the recall and you're looking at the product. >> well 1400 pieces of rocky and rambo memorabilia worn by sylvester stallone in the movies. he's not giving up the movies however he's playing rocky this fall and working on another rambo, i think's 69. if you're not doing anything friday night. look up you might see a blue moon. stuart: ♪ blue moon ♪ >> every three years, we should play that music. and the science reporter why does it look blue? uncommon atmospheric conditions like, you know dust in the atmosphere. >> that's the reason for blue moon? >> . stuart: i thought there was an as logical or astronomical reason. ashley: it's dirty air. dirty air. stuart: dust that's all it is. >> dust particles volcanic ash. ♪ blue moon ♪ >> don't forget if you want more of this 5:00 in the morning is your time. tune in with lauren sandra and nicole. this lady gets up at 1:30 in the morning. >> i get here at 1:30. yes i do. stuart: oh comin