What's Up On Wall Street - Jeff Cox, CNBC.com

Well it's all about the money in June -- we are given it back today holy smokes thanks a lot -- by the way. I'm not gonna go to any diners and -- -- to any box full of off and kind of cancel my vacation degrees. Oh come on Barry I didn't have let's get he didn't cancel out. I don't know if you wanna go over there right now anyway the Dow is down 85 points NASDAQ down thirty. The S&P 500 is down eleven tenure US treasury is ticking down slowly and slightly every day now it's at one point 847. Gold trading down 27 dollars ninety cents and then you've got oil down 92 cents it's holding 97 dollars and one cents a barrel -- RA would get me to the Greek. Story that is we're joined by Jeff Cox from CNBC Jeff welcome to the show Daria -- A good morning how are greater today. Good -- did you ever see that silly movie get into the Greek. Robinson. He got to watch -- Paul Krug man. Paul Kroger the Krugman is in yet -- and agree you have to watch it it's the silly slapstick movie Yemeni teenage boys. Now but it's it's got a bit silly movie -- apartments and input that the. If you have to have teenage boys in order to watch get -- did -- they are they this the market selling off a bad but still down ninety points I'm assuming. This is all based on the European contagion problems in Greece once again refusing to pay the rent. Yeah I think that's part of it I just cut out struck a traitor because of follow up a little while ago it's the other group of tribal lines that are. And in danger thing. In here -- -- -- that this could beat. That technical sell opportunity -- it's definitely increases involved here and I do still think that the market is somewhat shaken by that. That payrolls number on Friday -- that that you know that really kind of sent some. Felt expects. Muted that didn't live up really to -- even those expectations so it's it's certainly you know little -- right now. Is there anything that could turn it around this week as as look in at the economic calendar looks pretty light compared to most weeks at. Yellow light economic calendar and most of the -- seemed to be released the big ones are behind us. Yeah I don't feel good catalyst there's so it -- These. They keep up. -- -- Election has really kind of via. The French elections brought all the headlines but now the leader in Greece is kind of saying you know they were not honoring. And -- world. Agreements is slower to bail out the prosperity goes and everything so. That's a real problem what I think that I'll be very interest in this FaceBook IPO. And I didn't think that there's a potential once it's the -- detect -- -- be a catalyst sort of turn things around. What's the date on that may sixteenth. -- we tried it so. -- Yeah that that the fans were saying in the sixties and yes yeah yeah yeah that's -- yeah so anyway yeah I I think that that could be a really. It -- -- -- -- cut the potential big game changer. They were here -- that the ten year treasury is being bought up by foreign nations. Because they're two digits -- for replaced at park the money having great deal the last time I checked it was at about 185. What are the bond traders telling you about ten year treasuries down in New York. You know the system saying that nobody likes to everybody buys its its kind it seems that. It's it's some sort of goes back to that narrative of the -- out the bad neighborhoods -- definitely that that it's the US that has been really kind of the only. Viable. Alternative here you know they're fired up that thirty year onto like crazy on Friday it would not what went up over three points and prices. -- it's threatening to get below 3% body you'll for a third it'll let the government. If you look on the -- money. For thirty years election 3% interest just doesn't really seem like a very good deal of it is a popular one that -- thirty years also popping into their guys you mentioned that had you know. But he -- change so that really especially not getting a whole lot back for the money there. Is that part of the reason you're seeing oil prices declined as well so much money follow the US. I beat it goes dog on speculators -- against the British got a -- them for a driver don't try to pray that the fifty dollar before this is all over the. Would you work in in the Obama administration had an effort that. I didn't know I I think you were still at CNBC. -- It's just you know -- European study here but it just kind of goes to show how that it's a double edged -- that whole argument about speculators -- you know that -- -- and the prices going -- and -- you know that nobody talks -- much about it other parts of god that I think that this is sort of an economic -- current -- here and -- you know is that we're we're seeing -- -- -- kind of technical indicators being -- -- -- we kind of slowed down a little prettier and after the awful but it probably single demand destruction could well. It aid in there are a lot of indications that the economy is like sixty days ahead of itself in terms those unemployment reports. Energy prices. Peaked early perhaps maybe we're gonna see cheaper gas this summer as we head into the holiday driving season which begins really arguably. Later this month right Memorial Day weekends just around corner couple weeks out. Yeah I guess it's kind of all part of that -- whether or argument that the weather kind of pull it loose and forward. -- -- cost numbers forward and some of the productivity numbers are that their manufacturing numbers that kind of stuff so. I just leave here investors are going to it doesn't sound very sexy but I think investors are just going to have to. Get used to this kind of very muted you know -- other two point 1% GDP numbers you know very muted. Gross environment here and just going to have to color try to. Try to find opportunities where they can I talk to the Dallas morning -- said that. The accurate and out on the trading floors now is. Indeed the mean. By every -- -- -- -- There is a lot of that in a lot of people have been buying on the dips because there's nowhere else to go. You know if you if you've been late to the party EC -- in cash Jeff. What are you gonna do you have to buy when there's a 5000 point drop because that's all you're getting knocked it in. You very rarely heard on -- seemingly getting aid to 300 point drops like we used to you know back in the volatile days so. Yet that's dead and it just kind of you know that -- make a -- point or Austria in a -- of money either there's really as far as you're actually classes go there's there's there's not a lot to offer out there yet in -- every week we -- it is. That it just unbelievable. Marty that's going to block scientific obstacles as like over five billion dollars and you know compared you know maybe less than a hundred. -- -- the outlook well lots of billions and equity. The actual fonts so it's is that it's people like I think I am very very confused right now terms of what to do with their money. He had Jeff did you catch any of the FaceBook -- showed off. Well that would. We want allowed and it -- -- depressed wasn't allowed him that we we had some folks there who did some pretty good reporting here Hitachi and Kitty Kelley will vote there and done here it was actually a Boston this morning that sucker -- -- there. Why it's just cut it seemed like it was almost amateur hours yesterday certainly kind of surprised leaders of the grumbling there's some folks or. Column complaining afterwards about the it is. Help me out there that this -- the -- service that there is to grab it to his Seagram purchased that that there are some concern about delegate states. So that's kind of how our video that -- -- -- -- his political order that you know answer questions and you know they're at that question that the questions there have been a while ago. And then you're you're -- propaganda things so I -- I guess that they're planning to do a little bit differently in Boston. -- the existing day to watch immunity U if you buy shares and they spoke -- buying shares in 27 year old dictatorship right. Meant it that. Way. That's the guy is he's at 27 year old dictator he's got 60% of the control the he didn't even go to the board of directors when he spent a billion dollars buying instead I mean that. Here that boggles the mind UK -- with corporate America today and I just wonder how the institutions are gonna. Feel towards this and -- gonna show the love that everybody's expecting. Yeah I view these you would certainly see that there are some folks -- there we're -- some sort of real concerns about food in corporate governance. Stacks of stuff. I think -- can't -- that's saying that you know you still see -- opening pop and then you know we'll we'll see where we go from never. He's really gonna have to learn to be a little bit more diplomatic in the latest yet you and the effect company. -- have to grow up. -- -- -- -- -- -- -- I think what -- Matt Matt -- that's an agency yours but he has to do that IPO presentation. -- underling Jeff thanks for your time appreciate our era record that's Jeff Cox from CNBC joining us today on the financial exchange you know Barry. Steve Jobs of course I noted for his black to yeah so he you rarely saw -- -- -- Hitting into any of these presentations -- meetings tussaud's -- learn all black turtleneck and jeans are new -- now these signature hit it -- Steve was Smart. Steve Steve Steve you did that after he had the tracker. You know you look units of his older photos back in the eighties you were in the city is considered he did and see you can get away with -- I guess it's just the death high tech crowd he can you can do that. In my industry in the financial industry. You know it's all blue suits well. Terrorists -- science usher in in it you go to Wall Street that's what that's like the uniform right if you're really living on the edge -- Wear blue sure that the when I'm -- -- -- but -- and de facto wild guy Castro I wilding crazy guy who -- your Jeep Wrangler today. A Prius away. We stop and get that so many Texas now about that you stop with the whole car thing and now I think if you ever Tennessee won on my way you do a bit you do.