>> fundraising with speed dating. stuart: it is like going to disney where mickey mouse refuses to have a picture taken with you. i stole that line from one of our producers. dagen: i would pay to see you eating a corn dog at a fair. yes, i would. big money, too. thank you so much. i am dagen mcdowell. the drought stricken mississippi, white you need to care. this is a critical transportation route from heating oil to the corn crop in this country. that route is virtually shut down. a plow horse ain't the best looking, but she gets the job done. that is how bryan was very explained the state of our economy. carl rove is here to talk about

it in the race for the white house. 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 not a recession either. that is our point for investors to stay relatively confident even though things are not as good as we would hope they would be. dagen: do you think that american work effort has changed? >> right. i do. if you kind of think of the cloud, the smart phone, the tablet, fracking, nanotechnology, all of these new technologies, that is what is keeping our economy growing. it is fighting against the headwinds, in my opinion, against big government, big regulation, tax hikes, right now the entrepreneur is winning.

one of the reasons i am relatively optimistic about the future, i think, is my life history. i graduated from college in 1981. everyone told me the future was toast. in the 80s and 90s we had one of the greatest booms in history. i think we can turn this plow horse into a racehorse again. we just have to have good policies. dagen: cutting spending and removing federal reserve accommodation, that means giving something up that we have become accustomed to. are the american people willing to do that, once and for all? >> you know, dagen, this is the $64 million question. we will find out in november.

again, going back to the early 80s, we tried big government in the 70s, we ended up with a disastrous economy. we are trying it today. it is hurting our economy today, it is very very clear. i have faith in american voter and the american people that we will shift course, ms. pendulum will swing again. that will shift to an entrepreneurial economy. i am hoping we can do that again and i think we will. dagen: brian, great to talk to you. brian wesbury. you are more than a plow horse to me. >> thank you. dagen: will a spike in gasoline prices force many makers to stay at home? rich edson is in washington, d.c. with much more on this.

>> they are getting out of town. aaa says more people will travel this labor day holiday season than last year. 33 million americans will travel, at least 50 miles, from their homes. it is up 2.9% even with gas prices about $0.20 higher than what they were on the state a year ago. people are still planning to get away. >> do the record high gas prices and bad economic news scare people away from traveling? no. they are not sacrificing those trips. people do believe travel is important in spending time with their family. they want to go out this labor day. >> folks are still taking turns, they may scale back once they get on those trips, but it has

been a pretty good year. dagen: thank you so much, rich. former and present missouri senators are expected to issue a statement at noon today calling for congressman aiken to step aside. he made those comments about rape and abortion. former and present missouri senators expecting him to set aside in the race for the senate seat. three former senators have been asked to run in his place and i'll have to climb. possible replacement should aiken step aside -- we will dig

into this with karl rove and so much more coming up. the mississippi is drying up. this will have a dramatic impact from the food you eat too many other things. time to sell. dale orlando will say buy, sell or maybe wait a day. take a look at how oil is trading today. it is way up today. it is trading at $97 a barrel.

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he has a stock that is all about networking. charles, good to see you. charles: a lot of the markets are in a good area. telecom, i know no one really wants to talk telecom. the supporting earnings last week. they beat the street huge. numbers came in better than expected. not running today, which is fine. it is still cheap. this is a stock that even though it had a huge move already, still only trading at two time sales, one-time book. they bought back some of their own stock. almost 7 million shares. it is a small company. i think they are small -- confident enough. ultimately, this company could be a huge winner. dagen: do you like small-cap versus large at this point? >> i don't look at that as much as i look at valuation.

if it has a trillion dollar market cap and should be 2 trillion, i will go with that. in this particular case, i think the valuations are just very low. i think the next leg of could be absolutely huge for this one. dagen: buy, sell or hold off with apple. we will talk about that with phil orlando coming up. this company's annualized return over ten years is 56% a year. that is insane. charles: that is insane. listen, i own it in my retirement account. the stock got hit pretty good, but it made this comment. the iphone five-is just absolutely amazing. hold onto your winners.

we have hardly seen that people love this stock. tim cook does not have that yet. he is starting to get their to the point where i think history will just just start taking him at his word. dagen: we just landed on mars and apple and american companies the most valuable ever. [laughter] you know what, america, we are feeling pretty good. charles: china has not taken us over yet. dagen: thank you so much, charles payne. making money with charles payne. stocks now and every 15 minutes.

urban outfitters finally going up. nicole: urban outfitters cannot with their numbers, beat the street. earnings winning. they are benefiting from all of this strong demand from youth groups. it is up 17%. unbelievable today. the dow jones up one third of 1%. much like the nasdaq composite. 4.5 year highs for these major averages. back to you. dagen: thank you, though goal. juliet huddy is up next with our fox news headlines. missouri senator asked to ask

todd akin to withdraw. what are the markets greatest winners over the last ten years -- is it time? we will ask phil orlando this. take a look at how the world currencies are faring today. ♪ [ male announcer ] let's level the playing field. take the privileged investing tools of wall street and make them simple, intuitive, and available to all. distill all that data. make information instinctual, visual. introducing trade architect, td ameritrade's empowering web-based trading platform. take control of your portfolio today.

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>> 20 minutes past the hour i am juliet huddy with your fox news minute. missouri senators are expected to release a statement next hour calling on todd akin to step aside in the senate race. aiken released a new ad apologizing for his recent remarks about rape. the chairman of the margin that the event baghdad today. officials say shot metal from two rockets fired and struck the plane. the general was not hurt forever in any danger. michael j fox will be making his return to fox. they picked up a comedy series based on fox's life.

that series premiere in the fall of next year. those are your headlines on the fox news network. i am juliet huddy. dagen, what a nice introduction you did for me. dagen: you are the best. the good times keep on rolling for apple. the tech giant hit the record for the most valuable company at $624 billion. the stock has been up again today. joining us now is phil orlando. we will put you on the spot, people have been saying this for a very long time, would you get out of it here now? >> apple is a stock that we own and it has been one of our favorites. this company has a history of being one of the most innovative companies we have invested in

him. it has had a tremendous month. let's take a step back and look at the bigger picture. over the course of the next year we are expecting new iterations of both the ipad and iphone and we think we will see and apple itv in the next 18-24 months. you have a growth discrepancy. apple is growing its earnings at about 22-23% and the s&p at about -- you are trading at a very narrow trading. could we see a pullback given this very strong run, absolutely. over the next year or so, something in the 750-760 neighborhood certainly makes sense. dagen: you like technology stocks. >> we do. we expect that the economic soft

cups that we saw in the second quarter is temporary and resorted to re- accelerate out of that and technology as a sector is one of the groups that will perform well as the economy starts to gather some momentum. dagen: even with gas prices going up. >> certainly the spike in gasoline prices and food commodity prices is something we are watching very closely. understand that as the situation in iran unfolds, if that situation gets resolved diplomatically, you also think in the order of 60 million barrels of crude in the market. dagen: that is a big that to be placing. >> the reality is that gasoline prices right now at about 3.90 national. they are not poisonous. they are not at the point where

they will choke off consumer spending. however, if we can get some relief at the pump, that will essentially serve as a tax cover consumer spending. dagen: phil orlando, it is great to see you. apple stock is down, i misspoke. we had it up on the screen. money trouble for the obama campaign. the president's staff spending more than the campaign took in last month. karl rove is here to talk about the money race for the white house. in the latest on this giant dropped. big implications for the mississippi river. your food, how you heat your home for this winter. first, here are some winners on the s&p 500. ♪

dagen: president obama's campaign spending more money than it took in last month. karl rove is here to weigh in on the money race for the white house. the drought, the not so mighty mississippi and the impact on your wallet. warren buffett looks worried about local government being able to pay the bills. right now, writing news, your europe market is closing and ashley webster is here to try to make sense of all this news. ashley: it is tuesday, dagen. they believe that ecb will

indeed take steps to bring down the borrowing cost of struggling european countries. tomorrow, it will be the other way. let's take a look at these closing numbers. modest gains. the ftse up about three quarters of a percent. the cac about 1%. it was the things that made most of the gains. you also saw the euro gained a little strength against the u.s. dollar. yesterday it dipped to 122 in yesterday's trade. doctor linda over ecb saw spain -- demand was almost double for those 12 month bills and four times for the 18th month bills. the euro zone shuttled this --

diplomacy. attempting to put a lid on the regions that crisis. grace once it's partner to grant another two year expansion. so far the rhetoric from berlin has been skeptical, at best. you can have an extra two years, but we need some more concessions. we will have to wait and see. dagen: a good time to take a vacation. thank you so much. ashley webster peered bottom of the hour and time for stocks now . nicole: we are looking at facebook. today it is down 2%. we have the cofounder of paypal and facebook's director and he

sold out $400 million worth of his investment. he was one of the guys who initially got in and sold off most of his stake. this comes because basically these folks who invested early can get out. it is only the beginning. it will be 2 billion shares. it is only the beginning. we are seeing facebook down. back to you. dagen: thank you so much. president obama's campaign last month earning a deficit. spending about $10 million more than it took in. there you go. with reaction, let's bring in karl rove. karl, this is just one month. rob neese campaign has about $60 million more. how do you expect the money were

to play out in the coming weeks and how they will spend this? >> let's put this in a little context. as of july 31, romney had 168 cash on hand. that is different from what it has been in the recent past. in april they had a $95 cash advantage. 61 million at the end of may. we had in one month, the turnaround for the democrats having more, to the republicans now having 62. that is a big turnaround. why does it matter? we are all creatures of habit. the obama campaign one and 2008 by outspending john mccain. they thought, again, in this election they would be able to outspend their opponent peered they have banked a lot of money.

as we go into the final two and a half months of the campaign the obama campaign will not have as much money to spend. there will be some outside groups playing which will level the playing field a little bit. it has been a big turnaround for the obama campaign in a relatively short number of months. dagen: karl, on that note, much of the obama campaign money has been spent on advertising. television advertising. if you have now, because they have done so much of that, does it make romney's tv ads less effective because you have saturation and, well, exhaustion by voters? >> people may be turned off by too much advertising. i would make two points. first of all, the people will wake up after labor day, swing voters, we know people are up

for grabs, absorbed less information, they will want to hear from the candidates in september and october. the volume on the republican side may be somewhat larger. between may 15 and july 31 oh obama and his outside outlays spent roughly $130 million on advertising. on the republican side, romney had about $152 million of which 42 million came from crossroads which put up more than half of the money. on may 15 the race was 45-45. obama used his advantage to pick up a lead. at the end of july it was 46-46. dagen: i just want to quickly

ask you about this, karl, former and present missouri senators are expected to issue a statement calling for congressman akin to step aside in this race. how do you think this plays out today even? >> it all depends on akin. crossroads, a group im associated with, has suspended its ad buy in the fall. akin clearly cannot win. it is his choice. he gets to decide whether he stays or goes. if he stays in all likelihood he will suffer the worst debate. if he goes, the seat will likely go republican. it is his decision. i know him, he is a good man with a big heart, deep faith, but he made a terrible statement

which is on retractable and the damage is it it revocable. if he pushes through, he will cost the republicans a seat. this is the kind of thing you cannot recover from. dagen: karl, it is great to see you. be well. warren buffett mailing on government that. in the -- and the mississippi is drying up. jeff flock is in the middle of it. jeff: look at this thing out on

the mississippi. the river solo some people could even walk on water. we will talk to a man who is on the front line. stay tuned. ♪

>> i am lori rothman with their fox business brief. the rally and wall street continues. investors optimistic about euro zone leaders. right now the dow is up 15 points. oil prices also climbing on hopes for the euro zone and a weaker u.s. dollar trading today. crude trading at more than a percent higher on the u.s. mercantile exchange. more americans keeping up with their car payments. the rate of overdue auto loans in the second quarter was at its lowest level in more than ten years. the late payment is one that is at least 60 days overdue. the auto loan ~ quincy rate has also fallen. that is the latest from fox business network. giving you the power to prosper. ♪

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dagen: this devastating drought across the united states is drying up parts in the mississippi river. it is leaving ships stranded due to low water levels. jeff flock is in bettendorf, iowa. jeff: it is something. i covered the draft in 1988. that was the last time this ever got that low. there are folks walking on water. what that means is with a tremendous amount of cargo packets shipped down the mississippi, it gets choked off. i want to talk with larry daley about this. as we talk, a tremendous amount of cargo could shift here. >> that is right. just agricultural products corn

and soybeans. jeff: 60% of all of our grains we export, 20% of steel, 20% of coal -- you now are having to offload a lot of that because you cannot get through. >> that is correct. for every inch, we lose 17 tons on a barge. every time is money lost, profit lost and has to be made up with more barges and more boats. jeff: as we look at what a barge looks like, it is about 200 feet long and, you know, when you look at these barges, if you have to take cargo off, the barge operator gets paid the same amount of money. i will ship so many tons of freight for you for this type.

there you go. that is what is happening out here. we will be out here all day. dagen: great pictures, jeff. great work, as always. jeff flock along the mississippi. conducting its annual tour of the river. joining us now on the phone from memphis. bob, what can you tell us about the water levels? >> thank you, dagen. it is historic event this year. last year the water got up to almost 50 feet in memphis. today it is almost 7 feet below normal. that is a 58-foot difference in elevation. it is america's superhighway. dagen: talk to me in terms of what may be in store in terms of

the current conditions on the mississippi and during the traffic whether it is heating oil, whether it is corn, how worried are you about this situation getting significantly worse? >> we look at the long-range forecast from the national weather service. they are working 24 hours a day, seven days a week to keep the river open. the main channel, for the most part, is open for traffic. there are a couple of trouble spots as you noted earlier. one of the longest river closes was 48 hours. each day that cause the barge industry a lot of money. it is our job to keep the channel open for traffic. that is what we are doing is constantly, seven days a week, 24 hours a day. dagen: bob, check back in with us. think you for calling in.

it was great to talk with you. our countries superhighway. it is a quarter till the hour. stocks now and every 15 minutes. nicole looking at more winners and losers. nicole: really hovering around four year highs. let's take a look at some action-packed stocks. we have been focused a lot on urban outfitters. they are loving it. these shoppers are able to boost the prices. they are getting full argent on these items and merchandise that they have been selling. limited and how about, best buy. the dow winners include tank of america, jpmorgan financials have been quite resilient. we will see whether or not we make it seven weeks in a row.

barnes & noble books, "50 shades of gray" has actually helped them along. that has helped their numbers. their quarterly loss is lower than the expected. back to you. dagen: "50 shades of gray" god, help us all. breaking news to bring you. that trained derailment just west of both the minor, maryland, causing problems for verizon. they are having trouble completing long-distance phone calls. we are in touch with verizon and they don't know how many customers have been affected by this. let's take a look at verizon's stock. down 1% today. amazon is making backing up data easier for a fee. they introduced a new backup. it will allow you to store data at about one cent per gigabyte

per month. the system is designed to store data that only eats to be accessed infrequently, but still needs to be saved. the stock is up slightly today. two big money investors in the news for very different reasons. one is failing on government debt. the other investing, of all things, and a sports franchise. we will tell you all about it. first, today's winners on the nasdaq. ♪ it's something you're born with. and inspires the things you choose to do. you do what you do...

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dagen: more doubt about the safety of municipal bonds. well, maybe, berkshire hathaway made a big move out of the sector. elizabeth macdonald is here to explain it. >> they wrote insurance. our muni bonds sold by california and texas. he cuts basically his holdings and coverage for these muni bonds. he still has half of them. the question is, did he take a kid? is this a warning sign we will see more defaults? the principle that was borrowed, that is a big deal. you will see here's the timeline of events of what happened

because ordinarily traders can carry the paper losses on their balance sheets. the fact that he cut half of it, the other 50% still on berkshire hathaway books could stake a hit. that is the issue. will he take a loss? the muni bond market, though, has been improving. we cannot say either way whether berkshire hathaway taking a loss on this trade. or whether it is a red flag that more defaults are coming. dagen: liz, thank you so much for that. i am glad you are here to explain it all. a look at sports. a new key player, we are talking about buffett. another billionaire key player for manchester united. revealing and regulatory filing.

manchester united, the purchase of over 3 million shares. it carries no voting rights. shares of manchester united today are up 1%. they are still down from the ipo this month. the team also lost her -- advertisers. maggie expected to release the next generation of sneakers. with a price tag that tops $300. $250 per pair. these shoes, the new version include nike plus technology which allows you to track things such as vertical leap. there are also going to release the latest air jordan's this

december. specialty retailers barnes & noble and best buy both in the red. sandra smith has the latest on these two in today's trade. sandra: barnes & noble actually losing a couple percent. it is down 1% write-down. these are better than expected earnings. keep that in mind. it was a much narrower loss in the $0.98 analysts were looking for. "the 50 shades of gray" was a big part of those sales. analysts like this stock and large part at these numbers. the stock that we are watching at this hour is best buy. down 3%. by the way, also a stock that has lost about 26% this year. over two days, it has lost about

a fifth of its value. right now it is hitting a nine year low. dagen, if i go on the s&p and show you the biggest lakers, best buy at the top of that list. dagen: sandra smith, thank you so much. more on those shares of best buy. tom lane after that quarterly report came up short. cheryl and dennis will be coming up. ♪ you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you,

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with the power of their $1 million service guarantee. you have so much to protect, and nothing to lose when you call lifelock right now and try 60 days of identity theft protection risk-free. 60 days risk-free! use promo code: onguard. order now, and get this document shredder, a $29 value, free! call or go online now. [♪...] dagen: welcome back, everybody. i will toss it to dennis and cheryl before i get myself in trouble. i cannot hear programming or anything. cheryl: all right, thank you, dagen.

she can hear us, that is all that really matters. dennis: the dow falling below the almost five-year high. cheryl: best buy no longer the best or a buy. sitting at a nine-year low. which retailers may want to bet on instead. dennis: mitt romney calling for an audit of the fed. why romney's move appeals to the tea party, but also to liberal democrats. cheryl: not so mighty drought ridden mississippi closed barge shipments. we are live along the river this hour of "markets now." dennis: stocks every 15 minutes, nicole petallides, the dow just suddenly get negative. nicole: we have been hanging on pretty well, we are dipping a little bit negative, the dollar has a lower all morning. the fear index higher.

take a look at the egg picture, what we have to know is the fact the dow and the s&p have been tossing some key lines raking out to hide who have not seen since 2007. this is celebrations time to a certain extent. showing such resilience. bank of america, jpmorgan, number one and number two performers the dow jones industrials. we are seeing slow growth. yesterday we lost three points, today we are virtually flat. we will see if we can make it seven weeks in a row, but we had quite a run i indeed, back to y. cheryl: nicole petallides, we will see you in 14 minutes. shares of best buy tumbling to a nine-year low. chief equities analyst says this is an ugly day in the company's history joining me now in front of the truck to look at overall what happened.

bringing up the five-year low for this stock, what is it picking up? >> super ugly and they will survive 2013, 2014. the new guide is brought in, making a lot of tough decisions. i think the company will survive a couple of years, people want. cheryl: as a viewer right now, should people be buying into this stock? $17.80 right now, the year to date, down 22%, what do i do? >> stay far away from best buy. they will outline a restructuring plan, the stock will trade under pressure of the holiday season. cheryl: somebody like amazon coming to buy them already. there was all this maneuvering ahead of the earnings call.

>> amazon would take some of these and turn them into one of their distribution centers. a lot of real estate. lots of low prices, great selection, don't need best buy. cheryl: i want to look at the prior day chart, this is what we saw yesterday in the chart, a lot of it based after the news. reese surprised by this? >> surprise this came out of this specific time or the end of the day was worried about particular earnings. 20% of the company earnings, we knew something was up. cheryl: you are taking best buy, trying to do best by mobile, you say compare these two stories and there you go, i will make this, if i can, little bit longer. >speak of the matter is we don't

have the attention to consumer and price is not competitive. cheryl: all right, couple more i want to get to if i can. limited brands, you cover overall, looking at a lot of different things, jcpenney, numbers out of them, how are you feeling about the retail space right now? >> the way to play a think you still like footlocker for back-to-school. much better than expected. cheryl: this kind of surprised me, this move in the last two weeks, what do you say? >> there were some rumors of a buyout. you will see this with the stock, i don't want to own jcpenney because there is no share in the marketplace. cheryl: breaking news, have ended. dennis with breaking news. dennis: live pictures of former major league pitching star roger

clemens cleared earlier this year on federal charges that he lied to congress regarding alleged steroid use. signing a contract with the sugarland texas skeeter skaters, franchise and independent atlantic league of professional baseball. clemens agent says this is a fun local one-time kind of a thing. an atlanta fed president reiterating past warnings from the fed chairman bernanke monetary policy at the fed cannot take the place of fiscal reform on the part of congress. cheryl: there's there is a risa policy is employed to aggressively and without effect to address economic problems that can only be resolved by fiscal reforms that involve making tough choices about the locations of public resources. dennis: who has to ask next? you say it is all on congress

now. >> yes, let's see, mortgage rates at or near an all-time high, housing is recovering, corporations are borrowing some of the lowest interest rates ever. anwhen they don't really have te need to, they are not expanding to actually refine the balance sheets. the fed has done all it can do. a lot of liquidity out there. we have to have a congress that comes out and actually pushes through the tax cut for extends them to consumer sentiment can increase. >> tell us the three most important things you to see congress do for the market to keep going up. >> thing to have to extend the bush-era tax cuts for another year or two, and they have to probably loosen regulations for banking us. we have seen it improve regulations for the last year.

up 4%, that is a good year. we have to come up with an increased focus on housing, make sure we do all that we can do. to make sure people can stay in their homes. dennis: you actually believe the market will end higher than the s&p, yo you'd think they could d the year higher, but how is congress supposed to do any of that with the november election looming? >> i think it is going to go into a lame duck session that it happens. at least show us an effort they're moving in the right direction. it has been quiet, i think people are pretty much betting a deal is going to be done, but they are not convinced yet. dennis: congress has extend the tax rates. does congress also need to do anything else? >> no, let the market do what

they're supposed to do. they have to cut spending. i'm not a politician. >> how do you keep it going if you cut spending? i thought that was not an easy thing to do. speak i think they can grow on their own, they can find avenues to grow globally or here at home. profitable companies find a way to grow, apple computer does it. congress doesn't have all the answers. dennis: you actually like a couple of sectors, energy committee the market sold off on energy too early and those are headed upwards? >> energy production is up in this country around the perimeter of this country, think there are great companies that will grow also. people have taken their eyes off the middle east, i think tension

is still there and it'll be over by the end of yea the year pushg oil prices up higher. dennis: thank you very much, financial director of investment. cheryl: the drought stricken mississippi, why you need to care. everything from oil to the food we eat is all going to be affected. dennis: we are live asking people if it will cut into the labor day travel, but as we do every day at this time, let's look at oil.

dennis: time to make money with charles payne. a stock that can be making a comeback thanks to breaking news. >> peabody, i was early. but it is coming back, i love today's news. u.s. court of appeals said epa may be overreaching here. have all these new rules, i have to tell you, they are extraordinarily ciccone in. of almost 5%, but stocks across the board are all doing very well. saying look, this is too much. the mining association, state of texas and national brotherhood,

when do you get unions mining companies in the state of texas all on the same page? when it is estimated 183,000 jobs every year will be lost between now and 2020. that is how. cheryl: a lot of these plants ps have already been shut down or pieces o of the power plant have been shut down because of the epa. they cannot just reverse it and reopen them on a dime. >> out of 1100 plants, 44% don't need it. there's still a chance for these guys. this is business, they want to do all this stuff. you just cannot save the woods overnight, meets these criteria because they are really incredible and the what they're talking about is beyond herculean. we were just talking about this great report out about co2

emissions. this stuff has not taken yet. it was called free market, business, you can get unions 700,000 member union on the same page as the state of texas and the owners all saying the same thing. dennis: natural gas is so cheap they switched over, but the bodies is still a buy. >> even u.s. demand will go up at some point. dennis: thank you very much. 15 past the hour, nicole, tell us how far. nicole: looking at barnes and noble. when the stock opened it was to the upside. pulling back some, but the truth is they came out with the quarterly number, one of the reasons why they did better is

"fifty shades of grey," the trilogy helping barnes & noble long. you can see right now down $0.10, this name started off in the green today. back in the green up two and a half points, yesterday we closed down three points, not too far off, but we have seen financials doing really well and the transports is one thing. it has not moved up the way the dow has, they would not like that necessarily, but look, $9.45 for a chicken wrap them up doesn't that sound like a lot? they won't tell me where they got it. something around here, said you have lobster there? this is a chicken wrap. it is somebody else's. thank you for doing that earlier

in the day. thank you very much. but then there is this. national retail gas prices slightly from yesterday but still up a quarter per gallon from last month in gasoline futures continue to climb today. phil flynn in a fox business contributor has details. how much of this at this point is the dollar situation because it has been pushing everything higher. speak i think that is a big part of it. i would say what else could go wrong? it is unbelievable paying the highest price ever paid at this time of year. we have had pipelined outfits, now a storm in the gulf of mexico and we have to worry about bad gas. what else can go wrong? now of course the gasoline prices right now up 3.33 when prices should be coming down, but the big news is despite that increase, labor day holiday travels should be the highest

since 2008 so we will not let it slow us down. back to you. cheryl: thank you very much. higher gas prices to make last-minute holiday makers thinking twice about hopping into a car for the labor day holiday. rich edson standing by with a preview of the aaa forecast. it can't be good. >> aaa says actually they're thinking twice and they're traveling. 33 million americans taking trips of 50 miles or more for their house. air travel at 3.7%, total travel up 2.9% from a year ago. even though gas prices currently more than $3.71 per gallon compared not even $3.50 a month ago. still aaa says americans are just finding ways to make it work. >> it is a big factor in people's decisions when it comes to travel.

they're not sacrificing the trip, rather trying to find ways to economize. try to find ways to be affordable in other areas so maybe they're not going out really nice restaurants. it still wants to take that trip. >> memorial day from last year, a penn state nearly 5% over last year. cheryl. nicole: thank you. i am surprised. dennis: apple and samsung present in the closing arguments today, and the patent violation case. we will handicap the verdict coming up. cheryl: a train derailment in maryland knocking out verizon phone service. the latest details on the deadly accident. but first, take a look, the world currencies against the dollar. the euro strengthening, the dollar is weaker. pushing commodities higher. we will be right back. [ male announcer ] let's level the playing field.

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additional crews along with a shift in wind direction are helping in the fight. seven homes destroyed, number 3500 are threatened. cranes are being used to move cars listed in the deadly derailment in maryland. the freight train carrying coal fell from a bridge killing two female college students on the track. crushing vehicles in the parking lot down below. it is not yet known what caused that accident. and the marathon distance swimmer canceled her trip after battling jellyfish stings and lightning. she came out of the water a day before her 63rd birthday. that is your fox news minute. it is a good birthday gift to get out of the shark infested waters. dennis: throw down time in silicon valley. apple and samsung present in closing arguments to the jury. apple suing simpson for

violating several patents for the ipad and iphone. u.s. district judge has pushed the ceos to reach their own settlement and gave up after a single phone call. it may be up to a jury now. cheryl: matter what the verdict, everybody, our next guest says you can spread your risk and potential reward across the entire tech sector. here with us is the president and ceo of capital advisors. using the apple-the samsung story, we can make another stock play out of this, what is at? >> when you don't hear out of it is microsoft, another one is nokia. there'there is a decline of blay becoming an opportune time for this trial because the whole idea of who owns intellectual property, what legal ramifications there are for using the android system created an opportunity for more of a controlled system microsoft is trying to rule out.

cheryl: this is one of the digger stock stories. if you look at these stocks thes overall in the last three mont months, would you buy it now? >> this is what we call in our mutual fund emerging franchise, you're going to know this fall if microsoft is getting traction or not. if it does, nokia can go much higher. cheryl: you have said it voted growth in emerging franchise, that is kind of how you're breaking up your investments. you would still buy it at these levels because it is having a heck of a run. >> still if it's% yield, there is a backdoor way to play with verizon. you should like vodafone.

cheryl: is something happening in emerging marketplace that we don't know about? speak i would tie it to the dividend, really. as an alternative to fixed income, vodafone is a stable business with a secure dividend and a great place to park some money might otherwise have been a treasury bill. cheryl: you had apple. very good to have you. >> happy to be here. dennis: mitt romney joining the ron paul crowd that wants to audit the fed. cheryl: the mississippi is drying up. jeff flock, we sent him there to check out what is happening. >> along the banks were the mississippi where the water should be over my head, but not this year. back in a moment with the intent that everything you use. stand by.

nicole: i'm nicole petallides on the floor the new york stock exchange, where we continue to take a look at the movers and the broader market. some back-and-forth action, but take a look first at facebook. it went up to $45. somewhat of a debacle. the expiration occurred, insiders can finally begin selling and guess what, they have been selling in a big day. day. trading $18.75. $19.59, almost half of what it

was in the ipo. one of the folks from the insiders a part of paypal sold off his shares. dow jones industrial average off just fractionally. jpmorgan, bank of america some of the winners. after you. dennis: thank you, nicole. the worst drought in 50 years spanning almost 100 shipping barges along the river as the heat drives up the midwest most active shipping lane. jeff flock down in iowa with more. >> i wish that for me walking on water, but that is how bad it has gotten along the mississippi. there are spots now visible that were not visible before. people are out on sandbars fishing, which is pretty incredible. the latest on the barge blockade. the river has been reopened to traffic, but with restrictions. they are now dredging and 11-mile stretch of the

mississippi near greenville with a northbound traffic through during the day and southbound on at night. what are those restrictions likely to be? >> they will be related to the draft, as well as possibly the number of barges that can be on a boat. sometimes that just becomes a ratio force powers, but effectively where does will limit the amount of barges you can put on anyone boat. >> it is sitting high up in the water. if it was loaded, it would be down in the water, correct? >> crack, only about 2 feet showing. right now you have about 11 feet showing. so 9 feet down in the water. >> look at a lot of traffic up

and down the mississippi. 2% gets shifted up and down. this is where you load the grain, this huge facility that you see out here, this is typically loading, and you cannot load as much when the water level gets low. everybody has to pay more somehow. cheryl: thank you. that brings us to our next guest. the closing of the mississippi wreaking havoc on barge operators. 60% of u.s. grain exports shipped by barge along the oil exports. we're joined by a barge operator, this vision of american electric power. let's talk about these numbers because i'm curious what the bottom-line impact is overall when you have as a reporter just showed us these barges that have to be later come you cannot make as much money and move as much

grain, correct? >> that is correct, cheryl. we cannot load it, were 30% less capacity right now, where we normally can load 15 to 1600-ton per barge, normally 2000 2000-2100 pounds, we're limited to 15-1600. cheryl: some industries, some operators have actually suspended operations as we tried to get through this crisis in the mississippi. is that something you would consider? >> we don't suspend our operations, we operate low water, hot water and normal water traditions. the number you need, certainly can affect our profit margins. cheryl: i'm looking for things who are shipping, coal is a big

one. we'll be there some kind of impact on energy supply that you're moving your own companies coal fewer plants? >> it is actually on the ohio river, which is a damn navigable river. the daughter into the same problems on the mississippi river on the ohio river. i don't see any issues. cheryl: gravel, other types of materials. tell me about timing because many of your customers are waiting on the shipments that are already going to be like and now you have delays, what are we looking at? >> naturally the transit times increase like we're experiencing right now, our customers have to plan further out. it certainly doesn't work facing the low water conditions. cheryl: all companies are being affected by this, is there a way

to hedge or plan for the next few weeks with regards to fuel and labor are you basically stuck with what you have got, the contract yo contracts you h? >> unfortunately takes the same amount of fuel and crew members to run a tugboat. our cost did not go down at all. we have a fixed cost about $12,000 per day sitting and not moving. cheryl: that is amazing, truly is. we want to hear an update from you and get the latest if we can in a few days if this all shakes out. thank you very much. >> you're quite welcome, thank you. dennis: how is this? harleharley-davidson announcinge pope will bless the company's special 110th anniversary motorcycles at the vatican next summer.

such released seven limited-edition hogs, have the number did for the 105th anniversary. celebrate an event with a 15 city world tour beginning in june of next year. cheryl: hotels charged with conspiring with online travel sites who rip you off. dennis: why this summer make good on is the best of times in the worst of times at the movie box office with apology to boone dickens. first, take a look at the 10 year treasury.

>> i'm tracy byrnes with your fox business brief. oil prices climbing and hopes euro zone leaders will take steps to contain the region's debt crisis. a weaker u.s. dollar is also pushing crude higher. oil up more than a percent of the new york mercantile exchange. shares of urban outfitters on the rise following than expected quarterly results. trying to turn its business around by improving its products and shuffling its management. national home prices rose for the eighth straight month in july according to online real estate database zillow. also experiencing double-digit annual in income in residential

areas where home values continue to decline. that is the latest from the fox business network giving you the power to prosper. -[ taste buds ] donuts, donuts! -who are these guys? -oh, that's just my buds. -bacon. -my taste buds. -[ taste buds ] donuts. how about we try this new kind of fiber one cereal? you think you're going to slip some fiber by us? okay. ♪ fiber one is gonna make you smile. ♪ [ male announcer ] introducing new fiber one nutty clusters and almonds. [ male announcer ] introducing new fiber one it's something you're born with. and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter.

cheryl: it looks like some hotels are not being very hospitable. hilton marriott and sheraton hotels in the midst of a lawsuit for allegedly conspiring with online travel site travelocity and expedia among others. the lawsuit filed in california is claiming hotels fixed their prices because they did not want to lose the business brought in by the online travel sites. renewed optimism lifted the index to a 13 month high today. ashley webster watching the big decline in europe. after comments of the meeting coming up in trees, watching spain, watching italy. you need a chalkboard.

>> exes and those all over the place with arrows. yesterday they really dampened the report that the european central bank would consider putting caps on the bond yield of the struggling countries. a british newspaper said in fact that is one of the options of the ecb considering but regardless of that, definite feeling the ecb when they meet on september 6 will take action. there's a lot of interesting side stories. finland foreign minister saying in a radio interview there are whispers in the hallways of the euro zone splitting up. the prime minister being backtracking all day, but it speaks to something out there that we already know. missing the report over the weekend saying the cap on the limit of the bond yield. this was a separate issue. lawmakers have a habit of putting their foot in a little bit but that has mixed things up a little bit.

we have seen the yield on the spanish 10-year bond come down 6.19%, a very successful auction of short-term debt, went very well, demand in excess of what was being offered, and he mentioned the euro up almost 125 dipping down 122, the british pound hitting a 13 month high against the euro as well. there you go. not bad. cheryl: there is talk that is actually a u.s. market positive because many multinationals with a weaker dollar, say what you will of the euro but it would help earnings here for the third quarter. >> very quickly, greece coming up at the end of the week trying to go to berlin and beg for more time, the head of the euro group in the euro zone finance ministers meeting in athens tomorrow. they want him on board before they go.

cheryl: am i watching? >> we are going to have best buy. joining me to look at best buy, not exactly living up to its name in the market today. cheryl: thank you very much. dennis, over to you. dennis: a quarter till. nicole, laying down on the floor. nicole: looking at the fw. the designer shoe warehouse. where folks go, cost conscious consumers go to hit the store and get famous brand names for less. up five an.5%, they have certaiy seen the demand, people are shopping in their stores. revenue has been growing, so they're doing well and the stock is showing it today as well as year to date. let's take a look at the major

averages, the dow down three points, a fairly narrow range closing down three points, not too far off of the unchanged line. we have had this melt up six weeks in a row for the dow jones industrial. back to you. dennis: i have a movie mystery for you, how is it the box office "the avengers" could set an all-time record for opening weekend for the overall box office will fall from a year ago. hitting $207 million the opening weekend, but the dark knight rises hurt by the shooting. cheryl: the top five films making 1.8 early in the u.s., overseas numbers. dennis: a 3% decline in the summer box office and lenny in part the batman shooting.

and a summer stunner. "magic mike" up in the u.s. costing only $7 million to make. so if "the avengers" had matched them, but had to hit revenue in the u.s. of $3.4 billion. cheryl: not going to tell you about "magic mike." but also by companies that sell beauty products to women. mitt romney revising calls to audit the fed, why one washington expert says the fed will become a cornerstone in the g.o.p. convention platform. dennis: take a look at some of today's winners on the nasdaq.

dennis: fed crowd getting important new member. when the race yesterday at a new hampshire rally. speak out like to see the fed audited. i don't want congress to run the fed, i want to keep it independent, very few groups i would not want to give the keys to, that would be congress. i don't want to give congress the keys. dennis: joining us now, brian gardner who says the fed audit r before the republican convention platform. please tell me it isn't so. not exactly emotional appeal

about making america great again, august the fed, that is a platform worthy argument? >> there's a political argument there about reform and transparency. i think that helps romney. another more subtle the step in running against washington, in a partisan way. it plays to the tea party, it also places some level democrats. this populism on both sides of the political specter. they are united in the distrust of the fed, and so politically this place pretty well. dennis: nea did not do anything for ron paul. he is not republican presumptive nominee. >> how well would ron paul have done without the issue? ron paul did as well as he could have added roses as far as he could have. it has limited appeal, it is all wrong paul ran on. you get the point. mitt romney is using this to

fill out the platform, fill out the agenda, and from that perspective it can be an effective message. dennis: hunting at the fed may send independent and not subject to political whimsy and yet also hold it accountable by auditing it? how can you do both? >> that was the key of the quote of the line you ran in the clip. he wants to audit the fed at the same time he wants fed independence. there are economic advisors at his campaign and people he has talked to in the past and ben bernanke himself advocating in favor of maintaining that independence because it is studies have shown overtime or e more independent in central bake is the better job it does. the less political influence on the fed, the less likely it is to see hyperinflationary policies.

dennis: he was against the ron paul bill for auditing the fed, little bit of another flip-flop. are you sure you really want to see all the details, you're better off not knowing, brian. i think transparency is here to stay, it is only going to pick up. my political perspective, for a policy perspective may not want to see everything from a political perspective it is good for romney to get out of the issue. thank you very much. appreciate you being here. cheryl: it has been a mixed bag for retail earnings this morning and still some big names to come out after the bell today. sandra smith has the details. >> williams-sonoma. hard to find anybody bearish in this, look at a one-week chart, the stock has been climbing higher in anticipation of those

earnings out after the bell tonight. upgraded shares for $39 price target $37 change, and 4% upside from here. all the way through 2014. jefferies upgraded. it is not just williams-sonoma. down about 4%, some say calling for pottery barn, west elm, whole bunch of stars in the mix. on the flipside company analysts say to stay away from his wet seal. a look at the one-year chart, the clothing retailer losing half of its value over the past year now $3 change, just firing the ceo after being at the helm for 11 months. it'll be very interesting to see what the turnaround story is, the sales lagging, down 15%. we will see if they have a turnaround "after the bell"

tonight. cheryl: they are finicky. >> finicky teenagers? cheryl: absolutely. thank you very much. dennis: the mortgage business has been good for banks. cheryl: could the borrower be getting a better rate without breaking the bank? the as "markets now" continues. the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.

dennis: 13,279. the dow last of that level for years seven months ago. cheryl: obviously there is a lot to watch in the markets. lori: the best levels around the financial crisis. but to be happy about. cheryl and dennis, thank you so