The First Look - Adam Shapiro, Fox Business

Good morning and welcome to the financial exchange June night Barry Armstrong with you here on a beautiful. Thursday morning put your heart and a terrific day. Stock futures in negative territory yet again though I have to tell you June they turned a little bit but 35 minutes ago on that jobs report it and yeah. There down a lot their down I think eighty or ninety points. For the jobs were jobs report comes out what -- again now sixty points. Now -- out now ET -- NASDAQ down fifteen S&P 500 down nine -- -- across the -- even oil is now 119. To 8462. Gold is also it's no surprise seventeen to ten to 1558 at -- US. Treasury slowed down a teeny bit to one point. For eight this could be -- six we've had five down days in a row will it be six Saturn will find out we're joined by Adam Shapiro from the Fox Business Network. He's gonna help us decipher that jobs report from the sporting good morning at a very -- I'm great welcome back. Thanks nice to be back. I thought their jobs report pretty good but the stock market seems to still -- shrugging it off and send it wants to go lower. Let's go though there's a lot going on just let's concentrate. Just thought that job to get the number was great you know the initial claims for unemployment benefits of 26000. Evil is it seasonally adjusted you know they -- that they've reset the calibration every year's that was one thing. But more importantly they actually played out the Labor Department said look. Every July the auto factories. Kind of shut down. And they get it that. The first week there was a demand for automobiles so look at that card. Actors haven't shut down but there's summer idling for the summer break up. To into those people which is usual spike. Come into this system now the bottom line on all of this is the four week moving average fell 9750. That's a good number to fall. And so it it it is a true decline isn't it true good thing but investors looking at a -- well. The global economy really elect a better word -- -- And and. Well and I think probably if you're an investor especially in institutional investor in your making trades in and out on the same day. You're probably looking at the number and say OK now let's see if it sustains meaning. In what is the weekly claims next Thursday in the Thursday after that if you seek. 456. In a row and at 350 level or lower got to believe Adam that would have a very outcry have a positive effect on the. The others that you just brought up that the real issue right that I think that he -- the people who really run in this market which is the computer's. Output or better trading in net effect and they're looking at what happened yesterday at the -- a orator. The minutes from the Federal Reserve meeting indicate that then we're back in company while there is disagreement are not about to -- more money into the system as they've been. -- willing to say let. The economy's really in bad chip and up more money in investors would eventually you wouldn't -- futures in the -- he damn well -- Bartlett but a little bit at saint and there are some dissension on the net write data because the -- in which is unusual view and when Greenspan ran it they all voted the same way Greenspan wanted to Bernie yeah about it. A world. So the whole different world long time ago when a galaxy far far -- -- -- pay I Euro are you surprised I see the Euro today seems like every day goes down about a penny today it's at 121 yesterday 122. I think last -- -- talked use it when 25 and 26. Yet now it's amazing isn't it but again -- -- cut what the Federal Reserve that yesterday investors are are buying dollars into the dollar is gaining in strength. Euro again pushed out that's one of the reasons -- is going down the other reason is well our bed not about to pump money into this this -- ECB. There was I think that went into effect as of Wednesday that has the and result of pumping money pumping euros into the European financial system. And so investors in Europe are a little afraid -- about perhaps and -- and and the value of the -- -- -- is that explain why gold is declining in price the value of the dollar getting stronger so gold goes down his identity of the oil Nazi oil down about a -- nineteen. Right but in the what the dollar gain in strength is he is if things are working away were used to the working in the past because sometimes. -- behaviors not a good indicator of what's gonna happen next but in the past that used to be that if the dollar and strength commodities like oil and gold ball. Speaking of commodities what are your meteorologists. Are -- whether people telling you about out west I iPad grave concerns I was watching a report last night on fox. About the crops at -- they are now this week it started -- them under meaning he would guarantee they're the corn is dead. I eat it can't stand the heat is there any green in the offing I'm trying to get a meter. Molina lately and is one amity is speaker people -- my ability to come under programs and they see she was talking to -- As she was on Monday on our program might have AM show. Talk about the fact that there although the. And I and the forecast though it winners were killed -- they have they I think talk there is no one. It would about thirty days out because they I asked one of the local guys that noise over -- neck and and he said you know I'm pretty good on the -- day and I'm about 60% on the thirty game beyond thirty days nobody's better than 50% which means it's a crapshoot. Yeah what is Maria tell you on thirty days. I haven't asked -- about that is but I know what the US Department of Agriculture was saying about what they expect to harvest and that you know their party cutting the predictions drastically. Well going to be taking in -- and watch the prices start to go up. My potato chips are gonna cost me more that. You're eating potato chip anyone over thirty. -- eating stated curricula based he considers attributed health insurance company's bottom line this is. Sure it's right up on open about them now. Adam thank you very much for your time measure primary -- We -- talked about over thirty eating -- -- lot of people who have taken that at the tool or act like that cholesterol. I I -- -- When I went to the doctor last time -- the they didn't believe my age. They said you -- -- the season in twenty younger must feel that cold can an outcry -- you and you know I mean quite. -- it's the cigars a bigger problem and that the -- if they. -- is cigars in -- -- cigars potato chips popcorn Mary -- but honestly that Google up in price to places that you've agreed to wait in India she easily be giving you a copy Kate you made its peace justice and the whole thing. Three during the day six last night. I do the show for an. You have your wife as I was walking in to do this show she just said that I look at that look like I lost weight. Speaking of that value your on this new diet on the new diet tomorrow and -- -- programs you have competition in the building married yes 26 -- look at it lights don't I don't know where. No where -- another guy yesterday told me I walk like I slump over when I walk so I stood out from there.