The First Look - Joanna Ossinger, Bloomberg News

Good morning and welcome to the financial exchange -- are strong June ninth with you here. Holy smokes it's another Monday and it looks like it's gonna be. Well one of those Monday's -- -- stock sell offer. Continue their sell holy smokes it looks pretty bad it doesn't rainy days and Mondays always get us down things are looking at some unsettled temperatures. Ends wet weather as well Barry on Wall Street Dow futures down 46 NASDAQ down twenty S&P down eleven you've got that ten year US treasury one point 788 that's not up. It's down slightly gold is down 2480. -- and then you've got oil trading down a dollar 79 we like that again I actually so awesome. Regular unleaded gas in the town of let me answer this weekend for 359. 359 nothing. Somebody texted -- last week and said Bridgewater had a for 353. Gallon you know that is nice but you know unfortunately am not gonna -- the Bridgewater give my -- now that would be defeating the purpose I think 375 from analog scale that that's that's about or for that seems like it's the kind of the normal. Price for your gasoline may be it'll go a little lower today federal what happened -- last night Juno is watch and -- Shanghai opened at 930 course -- and it was the it was flat it was maybe down five or ten points. But then I walk in this morning I saw the Dow futures down close to a hundred so -- Europe again I guess I guess I'll let you know what we've got a pretty good resource down in New York. Should give us the inside skinny. And that is to win our singer Joanna welcome to the show are you don't. Doing pretty well thanks for having me on. So what's the deal wire why the sell off what would happen in the last twelve hours that's causing stocks to sell off. This is more concerned about right here at. It's potential taxes increased from -- which could cause some instability and cause problems for Greece. That also and one Merkel party lost the -- election in one of Germany's region and so it's looking like there's not even support for her at the she's kind of been days. The pillar of support for the EU's so that's that'd -- lot of things out or negatives. I thought she had just recently won an election though that put her in power for a few more years I know Sarkozy is out in France but I thought Merkel was safe for awhile. Merkel herself as safe bet that says that the regional election so it but it's showing that there is some sentiment around countries that. That might. In danger of her party our ability to get things done. Who what do you make of it then is Greece going to exit the eurozone voluntarily is it going to be orchestrated -- they -- be asked to leave right I'd like I've. It it almost seems like it's a given now that they're gonna exit is just a matter how it's done isn't. It looks like it because people are starting to talk about it publicly -- European officials and raise it and they just never had before and it. Probably the most likely thing is. Increase which is not abide by the terms of its bailout and then. The EU would -- it's believed and -- European officials are saying well pretty pleased that wouldn't be that much of a problem for the years but it's. It -- It could be started in -- thing on the exit two of its. It there's there's so many actors and -- when I don't form a government first said okay. Yeah but it better help us -- they can't -- -- agree on who's gonna government the if this is if Europe is unwinding. Why is gold declining in -- -- common sense would tell me that gold should be. Rallying in price given the fact that you got so much turmoil in Europe yet gold is down I saw gold I think -- might be down 1520 bucks an ounce. -- it's been as low as 15169. Today and that's basically it dollar play it has. Into the safety of the dollar and the Euro it weighed down and it's that about a dollar 28 right now that the good time to go to Europe on vacation from the US and and but it is all authority -- the articles. Is that -- tribute to the ten year treasury as well -- the ten year treasury at one point 78%. And that would lead me to believe that you got a lot of Europeans buying US bonds. Yes there is dated treasuries definitely as safe haven for people are now. It's a safe haven for foreigners I don't know that it's a safe haven for American investors that's that's that the challenge has just talking -- -- Feinberg he's the guy does a show before me and he said. You know it will where's money going to so while it's go to ten year treasury but at 178. Joanna that's about 3% less than the rate of inflation. You know -- you when you look at true inflation when you add in food and and energy so. Well it. Definitely it's -- and it's safe in the way that you're less likely to lose money but it's it's definitely that it and it it's not something that's gonna get you a lot of returns. Yup well and and stocks are are selling off in accordance I mean you're seeing stock sell off you know you -- -- be down another 1% just today. They Yahoo! it I saw that Scott Thompson finally. Resigned yesterday. After working out as compensation deal with the with the board. So he he carved himself -- -- every could get on in terms of an exit plan who takes over Yahoo! now what's the future that company. -- head of global media rough Levinson it was named interim CEO and of course the company has did. Three CEOs and just over three years there's been a lot of turmoil. Load it -- Activist investor who has been. It -- been campaigning for Thompson's exit. Is looking felt the company possibly -- it in pieces though Yahoo!'s future is really uncertain depending on what they can get. And differences for an. It from other parties. Now JP Mars watch and a number of interviews -- JP more -- Jamie Dimon yesterday on the talk show circuit. But I saw. Simon Johnson from MIT -- should resign I've heard other people saying that he's handling the crisis pretty well. Stock prices down and another 61 cents today before the market even opens. What what does this do I know he's firing everybody in London does Jamie -- survive this or is he gonna be shown the -- as well. Jamie diamond has some pretty good -- that it would take a lot to get him out and it you -- hit it is just a couple minutes ago it -- the tape that I did through who has had a chief investment -- is retiring. So issues and getting probably as graceful and accept -- success. They've given this situation but it can't -- it. Diamond is pretty solid and they're really hasn't been any discussion of him having believe. If we have more revelations of problems it's possible but everyone I think for now that the -- is manageable. He came out and and made some people's statements but he is he. Basically -- -- yeah it's pretty forthright about everything so there hasn't been a lot of clamoring to get him out of. Not yet and it and they shareholder seven rebelled against India. They haven't although it. You know any and I think the shareholders have been so happy with him for so long that if people are almost still reeling and still evaluating what to do. But it it it -- take a lot more to get him. All right -- Joanna thank you very much for your time I sure appreciate it have a great week. Take care that's -- in -- singer from Bloomberg joining us today and just for those of you are thinking about you know I think there'll be some speculating. Going on -- JPMorgan stock today you could see people diving in and by the dividend if you buy it today June the dividend is 3.2 percent. You know so if you're tempted if you're looking to buy stock on the cheap. It JPMorgan down about 1516%. Just in the last couple days while also okay.