>> welcome back to the "the wall street journal report." market's at a four-year high. time to sell and go away, or stay, stay, stay? a billionaire businessman from a booming country. where he's putting his money now and why women should invest differently than men. "the wall street journal report" begins right now. >> here's a look at what's making news in the new week on wall street. a disappointing jobs report for april. just 115,000 new jobs were created last month.

the unemployment rate fell slightly to 8.1% as fewer people participating in the work force, but still the lowest rate in three years. the march jobs number was revised upwards, showing 154,000 jobs created then president markets started and ended on a down note. but in the first week of may, the dow touched a four-month high. we're getting more information about the facebook ipo. they'll be priced at 25 to $38 a month, giving them a valuation of between 85 and $95 billion. the company is expected to go public on may 18. auto sales softened slightly. gm down 8% and foird fell 5%. auto makers say their numbers are down because of the timing of rental car deliveries. what do you the jobs numbers

tell us and what could they mean for the markets and your money? now we turn to kenneth rogoff. always wonderful to you have you here. >> thank you for having me. >> let's talk about the disappointing jobs numbers on friday, showing 115,000 new jobs created in the month of april. unemployment rate down to 8.1%, but of course the expectations called for a lot stronger job creation than we actually got. have we entered a weaker phase of the recovery? how do you see it? >> well, i think it certainly brings us back to the point that this is going to be a slow halting recovery. i don't think we're ever going to see three and 400,000 jobs created a month, at least for a while. there's too much debt and uncertainty to move faster. we could have 200,000. that would help. this is just treading water. >> so is that what we're

supposed to tee, 3 to 400,000 new jobs created? would that be typical of a normal recovery? >> we've been very typical. they do come to an end, but afraid in normal recovery, a number would be like 150 to 200,000 for a long time, and you gradually heal. this is a little worse than that, but it's just one month. they upgraded march. so if you combine the two, it wasn't quite such bad news, because you want to look at the overall trend, but it's not great. >> let me ask you about europe. eight of the 17 zuro zone countries are in recession. does this mean austerity is not the right answer, it's not working? >> well, i don't think they have a complete answer. let's put it this way. there has to be some austerity, a lot of these countries were borrowing way beyond their means and they're still getting lent

money. greece is still getting money. it's austerity would be worse if it didn't. but there has to be more. some of this debt just has to get written off. it's not going to work. they're not going to go into recession for five years across the periphery of europe. >> what is the implication for the u.s. from all of this? do the austerity measures impact the u.s.? >> well, i think the uncertainty impacts us, because nobody quite knows. i think in the next year or two, the floor is not going to fall out from under europe. they have a lot of cards to play. they can print more money, but if you're making an investment for five or six years, the way a lot of businesses are, the way a lot of things work, it's not so clear where europe's going to be. that's definitely one of the uncertainties. we could bring it back to the united states. nobody knows what's coming up in 2013. is there going to be a giant

fiscal tightening with the bush tax cuts ending? with the temporary wage subsidies ending and other things? i don't think anybody knows. a lot of uncertainty. >> in terms of the tax situation in the united states, if we see the bush tax cuts expire, you've got capital gains taxes going up to, i don't know, 25%. dividend taxes up from 16% all the way to 43%. if that happens, do you think we get a market sell-off? >> oh, absolutely. i think that is not likely to happen. that's really jumping off a fiscal cliff. if it happened in the context of some great reform, like bowl simpson or something that gets rid of a lot of deduction, keeps the rates low, or raises them a little for the wealthiest taxpayers, but if we get a real reform, that could help the

market. we don't know what's coming in 2013. >> we've seen a pretty strong earning season in the meantime. 60% of companies are looking at growth of more than 7%, better than the overall economy. is it a disconnect that corporate america is doing really well and the real economy is bumping along the bottom? >> some of those profits are coming from overseas, asia, latin america, where things are doing well. it's also the case that firms have been getting a bigger share of the pie. wages have been glat. firm's profits have been going up. labor's share of national income has plummeted, the last ten years. it used to be always about 2/3, now it's drifted below 60%, which is why profits are strong.

>> i want to ask you about obesity in america. how does that fit in? >> i have to tell you i'm influenced by the fact that my spouse has a children's television show on this. but i do think that if you look at longer-term trends, what we can do, education, investment, i think health is a really important problem. there's all this focus on spending on all people and making them more comfortable and healthier in their old age. but on kids, we have a lot of problems, and obesity is a huge problem. the first lady is engaged in this. the new york city mayor's office recently put a lid on bake sales in the schools. it's a big issue on long-term health and productivity. >> good to have you on the premiership. thanks so much. >> my pleasure. thank you for having me. >> up next, brazil is booming

from oil to consumer products. i'll talk to the richest man in the country about business in the southern hemisphere. and then later, are women from mars and men from venus when it comes to money? take a look at how the stock market ended the week.

even though the pace has slowed a bit, brazil is booming, make no mistake about it, so says eike batista, one of the world's richest men and a brazilian billionaire. one of his newest projects is a massive port expected to hope next year.

i spoke to him about commodities, growth and a visit to that port made by the president of brazil. >> this is a multibillion-dollar investment. going there, she also saw that big, big, corporations in brazil, that we could work together, supply service to petro gas, supply ships through our gigantic ship yard. she sent a message to brazil, blessing the port and she said it on her speech, that these big companies should work together. it's a win-win for brazil rge win-win for the companies, for our country. >> do you worry there will be any other steps taken in terms of dampening, in terms of accentuating that view, that foreign capital is seeing more challenges in terms of putting money to work in brazil? >> she welcomes it. >> and you don't think there's going to be any sort of barriers to that? >> for speck lative capital,

yes. the money that wants to take advantage of exchange rates, the really rates in brazil, the 9%, that, yes. but productive capital is mega, mega welcome. >> what about the higher interest rates? has that had a significant impact on new business starting? i recognize she wants long-term capital, just not the hot money? >> the butte ne brazil, in a country that is growing, so much demand, export boom. we have projects that generate unleverage 15%. high interest rate environment, but if you have a real. world project with 15-% returns, come. >> you control five publicly traded companies, oil drilling, powergeneration, port developer, ship building, a huge grasp in terms of commodity, infrastructure. what can you tell us about that

now? >> meat, coffee, sugar, soy, and now oil, which is -- the world, the southern hemisphere world, brazil, africa, india, indonesia, china, we're creating 20 million jobs a year. there's a disconnect, a total disconnect. so the chinese. i don't know if you know the number, but they have a steel production record again in the last quarter in terms of steel production, for which you need the iron ore. so boom hasn't stopped. so these six commodities in the next decade, you basically double brazil's exports again at today's prices. >> so even though we've seen a slowdown in china, you say the boom is very much in place? >> maria, most people forget, in 2002, ten years ago, china's gdp was a trillion dollars.

today it's $7 trillion. so 15% of a trillion dollars is 150% of gdp growth. 8% on 7 trillion is 560. people have to do the math. i don't understand. it's so brutal. even if it's 6% on 7 trillion, it's $420 billion a year. >> the numbers are mind-boggling, let's face it. how worried are you that at some point inflation becomes a problem? >> in brazil? >> yes. >> well, yes, major focus of inflation is full employment. brazil is running 5.5% unemployment, maybe 6%. so am canning frcan coming from workforce, yes. but the president will address it and allow more visas, for foreigners to come to brazil. brazil is living the boom that you lived in the '90s when 15 million immigrants came to the

u.s., it's like that in brazil today. brazilians are living the brazilian dream. >> so what do you worry about? are there red flags that you're watching to ensure that you stay on this track? >> as you said, labor. we're fortunate, people want to work in the group and brazil has created all the state-owned companies like petro gas, electrobrass. so the country as eye whole, if you live in full employment, it's always a pressure. >> tell me about the time line in terms of the super port project? >> mid 2013. all the companies that are coming to the super port, like the french flexible pipes, all the equipment, suppliers, to petro gas, to ourselves, are starting the construction of their factories right now. you can look at $50 billion of industry that will be installed in the back area of the super

port. america should look at brazil as a great opportunity for growth. >> my thanks to eike batista. up next on the "the wall street journal report," women in finances, how gender affects the way we spend, save, and plan for the future, advice you won't want to miss. and i hope you'll find us on facebook. check out wsjr with maria.

>> love is marriage go together like wealth and power as women benefit from unprecedented

professional and financial opportunities. are they wise about wealth? camilla webster and carol pepper are the co-authors of the "the seven pearls of financial wisdom," a woman's guide to enjoying wealth and power. it's great to see you and thanks for joining us. >> thank you. >> this is an important topic. as camilla says, there's still a significant gap in terms of money between women and men, income, and power. you've made the point that even with all the increased power, women still need to devise their own financial plan for financial security. why? >> right now we're seeing that women actually control more than half of the private wealth in the united states. we were the majority bread winners in 2009. but the worry that we found is also that over 13% of women versus 6% of men were poor over the age of 75. >> carol, you managed portfolios for high net worth families and one of your task system to

choose a female investment adviser, what does that say about how women approach it? >> women think about, how will this money affect my family? what am i going to do with it? how is it going to help us and keep us safe? whereas for guys, it's like is mine bigger than his? so we're much more holistic and a female financial adviser tends to understand women have different motivations. >> is it true that you think women are more long-term thinking and men are short-term of the moment thinking? >> we have studies in our book to show that men overtrade 50 more than women do, tend to make the same investment mistakes over and over again. >> it's like they don't ask for directions. [ laughter ] >> camilla, good romance should include good finance, truly. how do the strongest marriages or partnerships, tackle money?

>> it's simple. communication. if you're single and dating, who's picking up the check? what is fist financial style and what is her financial stale? if you're marrying a coupon clipper, you got to be okay with that. 60% of divorces happen over arguments about money. marriage, it's a business contract. since the '70s and earlier on, we wanted it to be all about love, but it's a business contract. >> and know your partner, bottom line. know his debt. know his credit score. >> let's take it further. thinking about wealth-building and family building. how do you advise women to nurture prosperity in mother hood? >> you need to investment a team. when you're thinking about having children, think about how much it's going to cost to have those children and whether or not you can afford it. a lot of women are waiting until

later in life, but then are running into expensive ivf treatment later in life. then once you have the children, is it private school, public school, working after school? it's really working as a team with the children to help them understand exactly what money means to the family and you know, when your kids are saying, gosh, i want that latest ipad, you don't have to say we can't afford it. you can say, our family doesn't choose to spend money that way and here's why. >> you have to discuss the priorities. >> yes. >> the cost of raising one child from birth to 17 years old, we have $200,000 and that's probably the minimum. is there a way to balance the needs? >> one of our main concerns, will a woman end up poor in her 60s because she gave away so

much emotionally with money when she was raising her children? so what we say is, the big three. based on a rock feller contract in the book, saving, spending, and giving away. saving 20%, giving away 20%. rock feller said to his child and he was the richest man in america, we're going to have a contract and you're going to learn how money works. by the age of 14, any parent does that with their children and you're going to see them as healthy, independent financial adults, who aren't coming back to you saying, please get me out of debt. >> and who have accountability. my sister does that. anytime here children get any money, let's say they get money from the toothfairy, whatever it is, 30% to savings, 30% to her to put in their bank account and 30% to charity. you teach them these fundamentals. >> absolutely. one point we make in the book is

to raise a house full of prosperity. there's a habit of people saying, we're broke, we're broke, they have a car in the garage and they are paying their mortgage. so if you want to send a message with building wealth, you also want your family to appreciate the things you do have in your home and that they have great value. >> great advice, ladies. thank you for joining us. up next on "the wall street journal report" news that will have an affect on your money. and we all scream for modern art. back in a moment. careful, pringles are bursting with more flavor.

[ crunches ] mmm. [ explosion ] [ crunches ] [ explosion ] [ crunches ] [ explosion ] [ explosion ] [ male announcer ] pringles... bursting with more flavor. [ crunch! ] i've been crisscrossing the gulf i can tell you, down here,. people measure commitment by what's getting done.

i'm mike utsler, and it's my job to make sure we keep making progress in the gulf. the twenty billion dollars bp committed has helped fund economic and environmental recovery. another fourteen billion dollars has been spent on response and cleanup. long-term, bp's made a five hundred million dollar commitment to the gulf of mexico research initiative... to support ten years of independent scientific research on the environment. results will continue to be shared with the public. and we're making sure people know that the gulf is open for business - the beaches are beautiful, the seafood is delicious. last year, many areas even reported record tourism seasons. the progress continues, but that doesn't mean our job is done. bp's still here, and we're still committed to seeing this through.

>> let's check out the website for the show. i hope you'll follow me on twitter and google plus. look for @maria bartiromo. now for a look at the stories ahead. we get earnings news from disney and cisco, also macy's kohl's, and groupon. thursday we'll find out if the u.s. is exporting or importing more goods. and on friday, inflation news. as well as the latest reading of the consumer sentiment from the university of michigan. finally today, call it the scream heard round the world after 12 minutes. a pastel version of the scream, costs $120 million, a new world

record. it's one of four versions of the famous image painted by edgar monk between 1893 and 1910, and the only one in private hands. it came by telephone. paul allen, microsoft co-founder, is rumored to be the new owner. one for the record books for sure. my guests next week, austin goolsbee, have a great week and i'll see you next weekend. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going. go for olympic gold and go to college too. [ male announcer ] every day we help students earn their bachelor's or master's degree for tomorrow's careers. this is your moment.

let nothing stand in your way. devry university, proud to support the education of our u.s. olympic team.