What's Up On Wall Street - Suzanne O'Halloran

Well stock the stock price just turned negative in a hurry -- we must have just gotten some negative economic data we had data coming out at 10 AM. We have the jobs report that came up this morning and I was. Better than expected 365000. Jobs lost but I did notice the stock market has turned it would -- I'm hoping is that ISM service data Dow is down 29 points NASDAQ down almost ten S&P is down three. A tenured US treasury at one point 945. Not much movement gold is still down sixteen dollars and fifty cents. And any of that oil trading down 88 cents at 430 like know your under the impression that on the biggest business news nerd in the world. And I -- in loud though there's somebody who might be a bigger -- denying and her name is Suzanne -- how are you down in New York cub is she knows what the -- would -- the market negative Suzanne welcome to the show Daria Dolan. I guess I -- I am definitely that there are so you guys. And I think he's very. Well it's good to have company -- the opposite is that she's one of the memory in high level. The rates are coming along she's -- giant and Eric club in overtime it was the ice and number bad at 10 AM yeah. I'm not that a little bit weaker than expected it and arguments in the credit. Probably a little bit of a cloud over the market but before that number out guys. -- are little changed. K. Straight masters. We entered cars -- -- -- You know. -- it would the most important economic indicators that investors. One C and with this stuff and look at quite intriguing and in that. What's the stock market looking for tomorrow when you look at bad day today you look at all the the weekly claims that have been leading up for the last seven weeks and and you look at last month's report you look at the ADP report. Yesterday what is your expectation for the jobs number that we're gonna get tomorrow morning at 830. It will -- -- quite apparent that we're looking at app creation about a 160000. As you mentioned there elite -- get RTU report earlier this week Ellis a little bit weaker than expected. We got outlook greens they come out that we're better summer we error and I think -- -- handicap but. I don't think the market expect seen. A great report on Friday unemployment that view changed at eat what you expect -- -- high at -- It was the weekly outlook is numbered. Is they can't be out pretty well so it's hard to get it get beat on that number but we apple 500000 in which it is but but I'm not I'm. All right now what about earnings I was reading that General Motors had get a strong earnings report and I believe BMW. Had strong earnings largely based on their sales of vehicles in China all places. Read about Israel. Out of actively talked about that and a clearly the other factor -- rebounded today. General Motors reported that it expects to order. L so -- pretty key and forecasts for the rest of the year terms and out of LI. -- the end is there saluting and in Europe. And elsewhere ECB today which talk about it in a minute but there's still is I -- you're out. And ship. For the company though is a call to get reports they -- over nearly cheaper dollars. Up 7% from a year so that it is their strength and North America looked out their buying cars. Mean these are not into any evidence that the European situation we'll turn around for GM in the next year two or we aren't going right. It almost what I look at Europe's is and I look at and say. But I can't see the light at the end of the tunnel for -- And you're not alone. We heard from -- had died each day at a BP. It into eighteen we heard the speech that scene and officially enter their facts and you. We know that your economy is contracting. So if we look ahead it appears that your kids. A real problem in terms the actual numbers and any higher. -- -- -- Other is that -- be left interest rates unchanged. He is saying. I think he would be if things are really tired -- it would be more process. They're ill planned to be more aggressive they. Our panel as well apart from everywhere they know their long term. Financing operation and also known -- a -- Actually it's pretty. Banks are for practically not seen in and out there liquidity. There's no plans to pull out of another program like that. So we're currently in Europe but it Airset and and and it they are being. Get worse we got lucky to be an -- came you know. It's gonna make it harder for -- to turn around Europeans. Operates and he talked about that a lot though. The question now is will be left -- it's improved and as yet. They'll look opinion is actually read their forecasts for the year product sales to about fourteen went by -- units out there expect Intel to improve. Could help upset that we here. Are right they ID you know the -- in I was looking at a story on Bloomberg this morning about Canadian banks now. I -- team and it's getting in Bloomberg markets magazine -- in a story here. About the Iranians. Well Canadians we know make the best hockey players in the world. Yeah that's an -- I -- on just look rosters -- -- -- -- the New York Rangers mostly Canadians you know it's a year your best players you can eighties but that nonetheless. On the with. What wire Canadian banks so much stronger than their counterpart American banks. Well what are. Okay it says they say they -- is if -- act -- expected to need it. Out in situations that we had here and are so appealing that. That was one. Reason why their banks didn't go the way of our tactics. And apparently they're still a little bit more conservative -- landing. And where -- their banking regulator are required to have higher capital. So what we're dealing with our what we're seeing each other is you know candidate sixth largest bank. Thanks for being raped -- forty billion dollars that's an. -- take we're taking over we are going to we're taking over -- I have to do it but it announced that -- is great is it's keeping cart it not -- dominion an -- that article. A couple of we -- you about. I -- how that thank you can -- it to expand but it in its. -- It being out and I agree here in New York. There's the third largest lender. Turned her. And that's what happened in the past couple ears they have read this as their spokesperson read Harry. As if they're being very graphic -- on -- -- What they're -- read they're making a lot of commercial loans to. And that's what's what's good about it is it's forcing the American banks like Citi and Bank of America and JPMorgan to start to take make some commercial loans there's now. Actual competition. Among the bankers to make commercial loans -- two years ago. Nobody want to make a commercial and TD bank led the way and as a result everybody else has to compete or else they lose market share -- bankers are. -- TD bank is driving the banking industry crazy because of their aggressive lending standards and. And it's apt you are consumer that's -- -- -- your -- this whole EU aren't. -- get the most attractive rates tickets and a learn and that competition it's great so. -- FA general make it's I'm running at. More competition and and indeed it like to thank you should be Guinea. In the best -- out there. -- well I gotta tell you Suzanne thank you very much for joining us appreciate your time. Rethink that could get weak markets Marla Cooper it's out of court. That's right that's exactly right Suzanne a Holler and joining us today financial reporter down in New York City.