What's Up On Wall Street - Joe Deaux, The Street
Feb 14, 2013|
What's Up On Wall Street - Joe Deaux, The Street
Transcript - will not be 100% accurate
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All right let's go to our guess is name's Joseph del he's from thestreet.com Joseph are you don't. Create -- do it today. We're haven't too much fun we're having way too much -- State of the Union Address the other night what was the impact of -- what you -- what did you glean from the State of the Union Address as a relates to gold prices. You know I think as relates to gold prices he -- this State of the Union Address didn't really seem to have much of an effect this week there's probably been more of an effect on. China a large part of Asia. -- on me. Weeklong. Holiday for the Lunar New Year. But the longer term I think gold watchers were still keeping -- -- on the speech because they're wondering why. You know what what can play out over the next year what's gonna play out over the next couple years in as you guys know it. A second term always begins for the state of the union speech there really tries outlines my idea is you're gonna be the next four years or at least what the president thinks he. So that's a big deal economically can give you a longer term sense of meaning he would bring in the United States in his party would like to do over the next few years. -- I think. What are we pull away from -- Obviously there was talk that they do what -- being politicians do you want to reach some sort of balanced agreement. In terms of budget. It'd been spending cuts to you know part about the sequester. -- of a couple of analysts said. -- they weren't necessarily excited but they felt like there was a little more promise than in years past where you know the first state of the union. In speech by the president obviously was not I was not very optimistic. On it and by 2012. Even knows more optimistic. You still had great concerns because there was little it was an election year and it's tough to get things done during election here so. Long story short I think gold prices right now are holding an arranged I don't think they were too frightened by what the president said because he didn't. You know he didn't say that the economy's so good that we're just going to stop you know all of the -- and and pretty much what we've done for the past four years now. What do both silver in a Tizzy is -- -- silver's poor man's gold right and ended Jessica. Like a I did the you'd think they would move in tandem but they don't really do that. Now they don't come -- to about sixteen. 57600. Ideology now where is over just about 31 dollars and it does have the qualities of precious metal. But it can also it also has industrial property so. It's used in manufacturing and it have to be used four parts basic parts. And because of that silver. Our local has been having a tough time there's a lot of talk among the personal analysts that silver could be looking up HSBC yes -- came out. And raised their target rate for this year and in silver prices. An -- because a large part of that is because he's seeing if you beginning to see slight uptick in the US economy and in China as well. And so wall. New production ranked automobiles. I mean we're seeing this platinum and palladium right now. You know part of it is demand issue but also we're we're starting to see that uptick we're starting to see -- manufacturing come back in silicon. Directly benefit from. So Joseph if I gave you a thousand dollars and I said you can either buy gold weakened by silver what would you. A little. If I had a thousand dollars. I think right now if you are looking for more prospect. Probably silver by. You know at any moment something huge happened and in it negatively you know and in Europe. And -- in that case you might what do being cold and obviously today that the numbers came to GDP numbers cannot -- they didn't look fantastic. And you might think it called blog -- benefit more but for the moment. Got silver wouldn't have it looks okay. -- like I like your thoughts thanks for your time ago. All right that's Joseph -- from thestreet.com joining us today. On the financial exchange. You know that story you've been reporting on all morning Betty Johnson & Johnson 63 million dollars well now we're gonna cover that angry di tale with Todd wall. From the Boston Globe he's got all -- under on its horrific story. Initially when I read it at exit 63. Way and you found out you know pirates aren't the -- given a 163. Right it's it's pretty bad. I'm tournament is something in this is really important. Mortgage rates right now are lower then they should be why the Fed is buying 45 billion. Dollars worth of mortgage backed securities every month so when you look at a fifteen year mortgage. At three unity that -- borrow the money three unity and fifteen year mortgage I can tell -- I can assure you. That that is an artificially low rate and it will not be available in perpetuity if you have a mortgage rate higher than three -- Or if you need to get approved to club buying -- house this weekend I want you to call this company called Ross mortgage. They're friends of mine rob -- runs the deal over there they do a nice job. The ill help you with the refinance if your rate is higher than three and give them a call or you wanna buy into hole. If you Monday through a lot of really good reputable mortgage broker in that's located in Massachusetts and has offices throughout knowing that. These are the guys to call -- 888. 986006. Easier it's as simple. It is simplify your life. If your mortgage rate is more than three unity and you'd call them. It's 8889860060. Please tell them that your friend of the financial exchange. And you know what maybe hook up a little bit better -- 8889860060.