The First Look - Andy Cinko, Bloomberg News
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
Good morning and welcome into the financial exchange on Tuesday. July they're just one day before our nation's birthday I am -- not a filling in all week for Barry Armstrong and we have. What -- your show for you today we have every single from Bloomberg joining -- first -- by Peter Schiff John Lonsky. -- cross from the Motley Fool. Michael Regan from Bloomberg. -- Cheney from the Princeton Review and -- bass from out Alliance Bernstein so. Quite -- showed today and I think just -- get things started let's take a look at what the markets are doing in premarket right now June. What are we looking at right now. Futures welcome chuck in you know I am seeing some on -- -- full of movement but then some. You know. The drama this morning okay Dow futures. Up seventeen NASDAQ up three S&P 500 is flat holding a thirteen 58 to ten year US treasury it's at one point six so that's a slight uptick. From yesterday when the market closed and then gold is up 1750. To 1615. -- thinking. I'm not too too bad in -- we have those factory orders coming out its hand so we'll see what happens DO. We'll keep an -- and those -- so far it looks like we're gonna have a pretty flat day in the market again kind of a light week in trading so all he ends its it's an early day on wall it is it I believe it's -- 1 o'clock today the market's closing -- -- day the kids are getting let out a little early from school so. You know we'll see what happens with the markets and here to tell us a little about about what's going on in the markets we have any single from Bloomberg and Andy it's been a little while since we've talked how -- I'm all right Jack thank you for having me back. Absolutely so. Andy let's let's take a look at yesterday just to start off stocks were mixed yesterday. Arm after reports on manufacturing construction came out what is this data telling us right now. In the manufacturing data as a bit of a problem. Way -- a lot of the problems frankly last year at this time. The so called PMI index is around the globe were higher they were above fifty they were indicating that manufacturing worldwide was growing. Fast -- twelve months and frankly all of them are below fifty except for India which means the US Europe China parts of Asia. South America they're also seeing contraction there a. Period here for manufacturing and that's just not a good thing because it would tend to be leading indicator and to suggest. That's not just not just Europe not just China as many different countries across the globe are experiencing a slowdown. And of course just that probably means that -- inflation but also lower stock prices. Yeah and absolutely it certainly has been one of the strongest sectors in the US economy. During this even limited recovery so it's certainly is concerning to see that going on but. You know I think in terms of the overall world economy again you mentioned is slowing everywhere so we do want to keep an Iron Man and 11 other aspect one other thing that we're keeping nine is Bob Diamond who was the CEO of Barclays. He's he's resigning today after admitting to essentially breaking interest rates so what exactly does this mean. And how his departure affect the bank going forward. Opera Barkley it's so they -- beginning a search for a new CEO. You know this is black eye for the bank yes certainly it's. It's stirred up quite a political storm after if you -- if you were called Barclays -- parts of Lehman last year that was controversial deal. Now we have this the controversy and admission that the league. The rate on why -- they essentially reported lower rates in the should have their bank and remember Barclays would pay. You know this is supposedly what they're paying four Interbank loans and that the raid and and that Libor rate does not just to Barclays but of course they. Pulled us together and -- it's used to tease that the raid on on home loans mortgages time. On business loads of things that has a much larger impact than just come Barclays itself. And it's -- the investigation that is you're gonna hear a lot more about this because it's not just Barkley is that it's under investigation. There are dozens of other companies that are under investigation not only Europe. But also in the Asia because allegations that they re did the interest rates they were reporting on both Libor and -- hibor. Which is the -- like war. And looking now at the at the tech sector. We have some news from Microsoft today that's a little disappointing they made a purchase back in 2007. Of a company called -- Kwon do which essentially does a lot of online advertising their rating down. Almost the entire purchase price so. This obviously was a deal that hasn't really performed the way that Microsoft was expecting does this hurt them going into the launch of their new windows operating system later this year. Yeah I don't I don't gonna have a lot to do with windows eight per say but but what it does say overall chuck is that the company never. God a very good toehold in competing with Google in terms of online advertising -- -- Was supposed to be the answer is there and of course is not doing well and and more importantly a little larger picture there is that. Microsoft online division will probably be performing words and continue to generate losses that was not supposed to be the case with. -- wanted you know underneath the that Microsoft umbrella. The company was -- to do a lot better on line and hopefully have some better online advertising products to put out -- they had -- which is their search engine which is where you'll also would see ads. You know all that seems to be not knowing very well for Microsoft. Noah and certainly it seems like that's been one place that they've always struggled to really get that toe hold in there as you mentioned so we'll definitely have to keep an eye on it as we as we go through the rest of the year but. Let's let's turn around look a little bit what's going on. Internationally and in particular the brick economies right now have been. Really performing quite poorly over the last twelve months there's those emerging markets and what kind of opportunities do you see for investors in those types of markets right now. You know it looks more worse than them good unfortunately. Russia is gonna struggle with lower oil prices oil being a very large export there. Brazil export a lot of iron ore and copper and it goes to China another one of the breaks though. With China being a slower economy Brazil looks especially vulnerable here. India seems to be the one that's standing. Somewhat head and shoulders above the rest of the stock market there however has been creamed. But India is beginning to lower there interest rates and trying to Wear on growth there is so perhaps that one is in the best shape is at least it is not related to oil. And it's not overly exposed to China. You know if there is somewhat of a possibility there that India could do better than any others. And it really just seems like you don't have a whole lot of good news -- -- then and this is this kind of -- right now there's got to be something good is there any positively that you can give us in terms of maybe the jobs reports that are coming out on Thursday or Friday later this week. Yes sure we can we can make it sound a little better here because gold is actually doing better. -- -- -- -- -- -- -- -- All right so is that we have at least one thing going right right now that's that's good to see and in these jobs reports coming out later this week -- are -- expecting those be pretty disappointing kind of like what we've seen over the preceding two months. Yet they're gonna be mediocre is the forecast that we're looking for a change in overall nonfarm payrolls for June of 90000. Last month the increase was 70000. So it's not much of a change -- name. In terms of just private payrolls were looking for an increase of 100000. As opposed to 2000 in the day. And the unemployment rate is expected to stay at eight point 2% and chuck -- we've been discussing over the last several months. You wanna see the unemployment rate actually rise to that would indicate more people coming in off the sidelines -- the job growth continues you know more people wanna come in. But unemployment unfortunately it's falling that means more people at least in the moment. It means more people -- leaving the job market and that job growth is stagnant you know it's it's just not all that wonderful I'm afraid. -- and certain well I would imagine that has something to do with uncertain climate both politically and economically going into two when he thirteen so. Will definitely have to keep an eye and that over the second half of the year so anyone thank you for coming on the sand. Definitely have a great fourth of July tomorrow we have some pretty good plans Ford should be pretty nice day in most of the country I believe. Yep yep we're gonna barbecue -- that we'll have a nice little. Usual fourth of July party thanks -- Are able thanks again Andy. All right that was Andy cinco from Bloomberg News and just giving us a little bit of information about where the market's gone and about where we think it might be going. Over the next couple weeks not a whole lot of optimism there. But again -- kind of have to see how everything plays out in the short term.
