The First Look - Andy Cinko, Bloomberg News
Related Audio:
-
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)
Good morning and welcome to the financial exchanges that. The day after we saw the Dow Jones Industrial Average dropped 49 points to close to 121000. 727 yesterday but the futures are in positive territory we have good news to report. The futures across the board trending positive. Yes I see green Dow futures up 48 points NASDAQ up twelve S&P 500 up six oil trading up 22 cents and that's up 975. A barrel -- US treasury that's up slightly to one point 488. -- the only thing down right now -- it's down three dollars thirty cents to fifteen mediate. All right so that's where we stand heading into trading and boy I feel like a kid in a toy store. There's just so much to play with today I've got economic data I've got earnings reports. I just don't know where to begin choice or an economic data with and your should -- go to directly. But. That's the economic data and kept Bernanke speaking about -- and a couple of things typical -- day let's go to New York we've got Indy sick -- standing by I hope you're staying cool into the network an outsider that. Thankfully no. Inside keeping cool I -- that a pretty darn hot out there as well. And hit a hundred degrees today. And in in New York I remember New York he's no wind is building so it it's gonna be. So. It's gonna be a hot one epidemic coast. Let's talk about date June -- is to start with the economic data CPI data comes in this morning -- -- at target was a -- It was indeed the Consumer Price Index month on month in -- was unchanged from -- and the if you exclude food and energy prices. It was up a small amount zero point 2% in line with forecasts. And so that's all point toward. You know low inflation to give mr. Bernanke some wiggle room before he goes before congress. You know the expectations that he might be in debt more. Easing of monetary terms. You've probably will not come out and signals quantitative easing around three. But he is expected to give what we would -- -- forecast. For -- because the economy is pretty slow and has no real hope that hiring. You know will pick up any speed in the next. Knowing and that. That just that dovish comments could be all Wall Street news needs to put on another fifty points you know that that could be the end result. -- could be you know it'll be interesting sometimes wolf because he's funny reaction they expect that the app. -- box will rally in the and the comments will come down stocks might just turn -- ago and well you know he's not gonna give us you know men mammoth stimulus right away though. You know stock price he should be lowered higher you know -- -- it'll be an interesting reaction. -- what did you make of the Goldman Sachs earnings announcement this morning they had blow out numbers they -- the street pilot 6070 cents a share. Yes they did it was it was. Wow like what up. Below big blow in the doors off of -- here they made a buck seventy to care for the second quarter the estimate was. One dollar and eighteen and -- the sixty cent to beat shares are up about one to 2% in the premarket. -- revenue if you look at that would not as big of -- -- six point six million vs six point three billion for an estimate. You know the big problem here with fixed income and currency trading revenue that was down by one and a half billion dollars. Quarter according to stick figure how much their business changes in terms of making a profit off training. And equities revenue to -- also down by let's just call it half a billion dollars. And again that's just from the first quarter to the second quarter. Investment banking was unchanged non underwriting was essentially -- change you know again it's been a very weak and that flow -- market and an IPO market for those two lines of business start. You know holding steady but not gangbusters. What do what else are we seeing for earnings we've got Coke cola coming out Intel State Street Yahoo! Johnson & Johnson. Yahoo! and news reported so far and what are the you know with with the vibe right now in New York is this going to be. A good earning season no word or because this is the week this is the date the granddaddy of them all right -- is it. The whole summer going to be made or lost on this week. Well I think I think more next week than this week Barry says it's just beginning to get rolling -- -- -- getting someone -- an indication as to how things they're going. Next week will be bigger and probably the following week will be even largest in the sheer volume of numbers but. So far so good. You know we're looking at this morning Mattel that 7%. Comerica is that 3% in the premarket mosaic -- And we mentioned Goldman up 2% -- is up one point 1%. Although companies beating forecasts and the their stock is rising in the premarket in terms of those that have been lifted and that would be GP hunt. The trucker that don't 5% in the premarket and hop off -- -- -- in -- which had you know that they -- that your forecast that the court that was in line. That stock is down 1% this morning so you know on balance the morning more beads that mrs. and the fears -- Sorry lady thank you very much for your time we sure appreciate. -- as dandy cinco Bloomberg News in New York joining us today on the financial exchange a lots the chat about today.
