What's Up On Wall Street - Matt Nesto, Yahoo! Finance
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Jonathan Cheng, WSJJonathan Cheng, WSJ
point to -- Is this part of what's being orchestrated by the Federal Reserve you know we've had 0% interest rates now going on five years. Is it finally is is what's happening here I've seen it 88 and where people say youIt raises you know pushes up the S&P 500 pushes up the Dow Jones Industrial Average . What you and I look at our for a one case we feel more confident we spend more money and that creates a virtuous cycle. That's the hope and it -- the wealth effect and some people say it's been five years we haven't really seen the effects but you could argue that we are starting just yet in the housing market -- starting this Viet. You know with hiring a little bit. But. We don't have a lot of -- There's a school of thought though Jonathan that the Federal Reserve shouldn't be acting in that capacity in terms of what you -- there. It -- when I drop and I studied the -
Caroline Ratcliffe, senior fellow at the Urban Institute
Caroline Ratcliffe, senior fellow at the Urban Institute
and 2000 and African American family thought their -- I about a Eric Anderson in comparison to white Stanley who -- that there was well all out by -- and. Widely again widely disparate deal because -
Warren Mosler discusses Deflation
Warren Mosler discusses Deflation
Would do what is your analysis tell you we will see for oil prices between now and the end of the year. Does that are we gonna decline and it that's an attack brake force. Itchief economist -- -- is it if it's daunting. To consider that oil prices are sat by like a handful people. It really isn't he didn't say it with such calm and ten cent certainty I -
What's Up On Wall Street - Deb Borchardt, The Street
What's Up On Wall Street - Deb Borchardt, The Street
is the big. And had a -- -- medical medicinal Canada for cancer patients And I if you watched Showtime's weeds. At the end of the reason they had that whole like legal marijuana for cancer patients and minds of. If she got a John and I do remember that. In fact. Play us out there at the company coming out this week and they have a product and they are expected to start to turn a profit. They have not. -- making money inspected and losing millions that there are expected to make a profit and they. Most of their drugs or pain drugs for cancer patients which act McConnell just did is that still good thing yeah but I think that Allen has really becoming interesting. He irreversible felony. It is going to give BI and asked why. And that's why I like it seek him Harris she's ready now went down play -- -- kind of IE yeah now I it's not a it's not a big deal at 68 million but I just being well liked -- that I'll I'd like to these stories of drug companies that help. Cancer patients and I like pat. You know they are expected to start to turn a profit and then and then not part of
Automatically Generated Transcript (may not be 100% accurate)
You won't -- Your joke books it's your portfolio. It's time for the financial exchange rim very. All right Armstrong from Wall Street do yours street Mario Armstrong has got you covered. Here's the financial exchange we're very Armstrong. Where back. It's the financial exchange unite very Arab firm with you here on a Friday morning. Happy Friday everybody in June the market seems to be continuing its round. -- as a free happy Father's Day weekend rally carried -- Dallas sub 72 points S&P 500 up seven. NASDAQ up fifteen oil down eight cents tenured US treasury one point 596. And you -- goal float around and a up 64 to 1626. Are we had a lot of economic data breaking this morning none of that seemingly very good. So we've imported -- -- from Yahoo! finance -- welcome to the show Daria Dolan. I very -- thanks glad to be here. The that inspiring number was pretty bad was at the manufacturing number coming -- your state New York. Yeah it's really read data point out there all global war misses they all came in worse than expected. So industrial production also was amiss in the consumer confidence percent of Michigan's sentiment. All coming in below estimates and the reason why the markets higher is of these attic so once again control. As we've set -- for the Fed meeting next week to hold a prayer. The belief. Is that local band is gonna come through with some stimulus. Two -- meeting. Is it uncle banners on uncle Mario 'cause I'm thinking it's really -- -- this thing all started rallying in turning yesterday on rumors that there is gonna be. And you know it joint effort by the ECB. To bail out these Italians the Spanish in the creek banks. Well probably a little bit of both be yesterday's story you know was that you city room hour. And reverse have the possibility of cutting both ways. So you know that rumor could go away I don't think it's going to go away rovers are also actually wanna you know -- -- -- you know department didn't have any tools left. Or when rumors are -- cool you know they can be you know place they can be as effective as policy matters. When you really don't have other -- so just the mere suggestion that there's gonna be some sort of intervention. Will work -- when you talk about the G-20. Central Bank that's a lot of banks get out of the same page. Well right now with the real focuses on the biggest baddest. Banker of the moment the bearded wonder Ben Bernanke he's played out where colts. Hey that the death and -- that occurs to me and Yahoo! finance had a report on this yesterday. In -- look at European gasoline consumption in in France I think it's down 8%. See China's hoarding oil. Since production is up. It it seems to me the date the stars are lining where we could have. Potentially and I think this is on your website yesterday potentially we could have fifty dollar per barrel oil. Between now and November. Yet Credit Suisse put that out Delhi said it there was a severe credit chart it could go to fifty dollars I mean I guess you know when there is a shock to the market of the capital markets would result in the attic could be but sharks tend to be short lived and to. -- -- the fleet investor tend to be our opportunities to cobble things that would say that's -- pushed back. That were -- up to me seems like Smart buying it right you know -- China and you're giants. Oil consumer within a relatively fast they're growing economies and then today that the place for a -- at the district seat. Strategic petroleum reserve but they have the hoarding patrol. So like if that's the sort of a different way of looking at things as for France consumption. You know I don't know -- he. I haven't really checked on the French driving statistics lately. But. Let's just -- is European driving is down tremendously currently at our economy here. Economy's terrible disease -- You pay for fuel and taxes that are built into the system mark. You know ridiculous to begin -- so. You know not doesn't surprise me. So who wins the -- elections. Could call I don't think it matters to tell you that -- I think there's going to be a concession either way you know I think it's another haircut and it was -- -- -- or on -- right now. So you know they. I saw a story today where it's at 500000. -- Households in abstinence. Are at least three months behind other electric -- They and the national. I'm laughing because it's laughable it is -- big -- that national the state owned. Utility. Has a 650 billion dollar bond payment due next Friday so they got it you know they're gonna pull the plug on -- people that might change that actually might -- could change the election you know absolutely your power goes -- -- You know watchers -- title. Then you know you're gonna probably get out there and do something to get the power back on again but I mean it's a real threat is real against -- on the power. Don't know who's your electricity everything else goes along with -- and India you've got companies that are Paul and out of Greece to -- you -- -- four. I read this morning there there are saying you know what we're we're done with the Greeks we don't need to do business here anymore because we can't make any money. Those franchise. I you know to be this far I guess if I was a discount retailer like care for the erratically as they compete with Wal-Mart. For people not familiar. How would be looking to go in at times when prices were down and -- Power was. Down and you know budgets were being stretched immediate seems shortsighted. If you're already in there to -- -- they were dealt with -- -- -- -- If it while the they're betting that things don't get any better their -- to your point right there they're betting that things and work in -- deteriorate further. Then as opposed to prevent. Well have a -- go back to the stone age -- indeed still be a period of uncertainty but again. If you're there and already have operations. Stores in etc. Then presumably appear. -- a provider of goods. At below under the skin now that you would be the person and you had the you know backing of a global. Globally capitalized cup company. Presumably you would have the staying power it get it through and do well. Now -- will seek anybody right. They have to eat the -- I think it that's how bad the environment maybe there are rumors that Greece is gonna erupt into a civil war I mean who knows what's gonna there. Over there right so are -- I don't know. It's always good thanks have a great week any guys double -- -- All right -- Nesta though from Yahoo! finance joining us today. On the financial exchange give.
