What's Up On Wall Street - Kayla Tausche, CNBC

Well the stock market slide continues -- been quite a ride we six weeks in a row where the S&P 500 was in positive territory to end at six consecutive weeks. I wouldn't think we're gonna get a sixth -- seventh weekend. No I looks like we're gonna break the trend this week in the S&P down seven points to 1406. The NASDAQ down sixteen points. Trading at 3057. Then of course the Dallas still over thirteen thousand net thirteen 91. But that's down eighty points gold up 25 dollars announced to 1665. All right well let's go to -- in new York and -- to do with how she from CNBC Kayla welcome to show how -- I'm doing well thanks good morning good morning. Pelé I am I. Somewhat confused by the action on oil you know I read about the slowing economy that's slowing in Europe China slowing down every every economy seems to be slowing down. Eatery in recession -- on the verge of recession. Yet oil prices have gone from the seventies up into the high ninety's in price with what's going on with the oil with the action there. Well there's been a pretty strong Polaroid -- ball and oil in just a last month or so what we stopped -- to bring some are -- Not the -- of course he and I did it in the summer as people go on vacation. Cut as the weak economy can -- regarding their dollar ever biting black indeed I'd. That in an issue the price of gasoline and likewise if -- the oil has gone down but I know last month we've had a series events that. Wineries fire which Kurt is defiantly get the amount of oil that we actually have -- in places like California shut -- or I or I or an Al Blair -- out that her the it's the -- and that can make all the mark and that. For us it's I don't and -- earth so all of a while. So it's it's done it sounds almost like his domestic supply interruptions that it's causing the price to go into the high -- DC do you think it's gonna go higher. Then word is now -- with the what are the predictions. -- do you previously only found lower prices and oil economist says that the could eat the green dollar. Gasoline on average -- -- -- this year and instead because that you're either one up there that in just the last several weeks. Now economists are forecasting that the national average could go above four dollars IB and defeat here of course yet there's -- -- Relation between the right the oil and I can gasoline at its about it at every week lagging indicator pretty heated -- like going up. Above the -- perhaps even about the hundred dollar a barrel you will more than likely you -- -- gap right it's an impact that -- And the problem their Kayla is the you know you couple that we will rising gasoline rising heating oil prices. And then on top of that worrying get rising food prices you know because of the -- Let them because -- and you're out this summer. It's made things more and -- like or are great but you're -- I odd duck those -- -- on act because the crop had spent so poor they found out little -- -- -- actually been getting big -- -- that I fit right in the most recent reading on the Consumer Price Index credit bureau of labor is Xbox. Tim Price is right on averaged 2% to a lot. Twelve months and that was -- -- -- -- percent jump in the last month speak. But the problem is not just. It's going to be by McMurtry Starbucks and when your dining out that -- to -- a percentage point higher -- -- app funny it. Overall cost that is -- As many -- sit well at all. Well there's something to look forward to -- a technician. And you know it's inching I read where you know the -- a lot of the Rangers are slaughtering their cattle early. And the replacement cost for the cattle is double what it was a year ago so. You we're gonna get a slight increase in prices for beef then in and livestock. In the in the winter months but then I'm really concerned about a year to down the road we could have dramatically higher prices. TV this is -- almost in this trial could cause a a fairly permanent. Increase in in food prices for his friend of potentially next two or three years. I think that's right and I think that the economy has laid back and mobile. In that election got our I don't -- meant -- -- it the economy but you really can't you can't change the Blackberry you know no matter how much it. It Democrats and Republicans are over how back to healthy on the ultimately mother nature or that but how much -- get a given year get another spirit are. What that. They are and ultimately the other. Our -- -- touchy thank you very much for joining us we appreciate your time. That's -- from CNBC joining us today on the financial exchange you can join us every day Monday through Friday where your we're talking about. Business and personal finance. RI AA apparently during the second hour we will be giving away coffee -- to make sure you UST tune for the Will Ferrell signal when you hear that. He can be the fifteenth listener to call us at 80882052263. During the first hour we gave away a gift card to a drugstore and Stephanie in Rochester, New Hampshire was the winner of the gift card. We're gonna do that during this hour got a couple things and in mind for you but. We are going to be joined by Hiawatha bray from the Boston Globe he's gonna talk to us. He you have an iPad -- can -- -- in the Hiawatha is gonna do a comparison forests between the galaxy tablet so bang the end the iPad he's done the study. On the two cities and tells the differences between those two instruments. Oh he's comparing products with apples and don't you think it just comes down to money apple cost a little bit more so people buy the other product just because it costs less. Doesn't come down of the fact if it's better knock and I'm sorry. Apple makes the best product while I'm not the most universal products it it's not everybody agrees and they all speak to each other that's -- -- saying every apple thing he -- is designed to speak to each other. -- -- -- Mike my mom for some reason to so -- buys the cheapest thing she's cheapens the show by and neck she's gone through at least for netbooks in the time that I've had my one iPad yeah. Then they do last -- apple product -- like I've got the first -- generation he saw the first generation -- Petr did you upgrade I think they're so the first generation yep dinosaur talked Hiawatha about that also during the next segment. You can text us your questions any financial questions you might have. Feel free to send it to a 686. CD is our text number. You text your question -- -- and I will do the best job we can't answering your financial increased 686 CDs or text number. Your financial questions are next on the financial exchange.