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tv   Power Lunch  CNBC  June 25, 2012 1:00pm-2:00pm EDT

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are killing it, we're long xpi. >> joe? >> a great week for mickey, i like his stock, carnival cruise linz. >> scott? >> disney. that's all for us. "power lunch" begins now. >> halftime is over. "power lunch" and the second half of the trading day starts right now. and we continue with the breaking news story of the hour. stocks getting hit very hard, as we begin this new week, there is the subpoena, you see it from 1335 then to 1311 right now. iran's nuclear program marches on. europe is getting ready to take a big shot it is islamic republic's oil. there's an industry changing ban that starts in six days, how it could impact you. and on a much more peaceful note, yes, countdown to christmas. six months away to the day from santa's arrival. our countdown is on, you can
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smell the chestnuts roasting. maybe that's your equity portfolio. if you're a retail analyst, you need to be way ahead of the game. we'll show you what they are seeing coming up. first, much more on the biggest story. sue herera is live at the nyse. sue? >> ty, a rough day for the bulls down here. they went negative for june. the dow down eight of the last mondays. half of the days were triple-digit losses. now german chancellor angela merkel saying, quote, liability and control aren't allowed to be unbalanced. another note to the weaker euro economies that they should get in line and they should get in line right now. here's the bigger picture. the dow jones industrial average is trading down 165 points right now, down 1.3%. we're down 57 points on the sessions, the s&p 500 is down 24, russell is down 13.
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a big surge just a short while ago in the gold market. the volume is very heavy in gold today as well. matt chesslock is a trader. it's not a good way to start out the week. ms. merkel is basically throwing down the gauntlet at the upcoming euro summit. she's not giving in. >> no, absolutely not. i think you're seeing that. gold, you mentioned it, huge fight for the up side. i think people will find it being played to safety. this euro summit will probably not have any answers, and i think people are finally realizing that. >> what do you think the day is going to look like as we go through? how is the volume tracking? >> i think we had a volume failure, didn't confirm the rally. two huge days with the s&p rebalance, and that didn't give us the balance confirm we needed. today people are taking it on the chin. it doesn't shape up that great.
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i don't think people are too happy, and we're not going to get any confirmation out of it. >> matt, thank you very much. let's bring in courtney reagan reporting from the floor. what are you hearing from people. >> it's a very anticipatory market. we're not probably expecting much, but still also what's going to happen out of this obamacare. now we think it's going to be on thursday, so a lot of wait-and-see, but a lot of negative sentiment, too, the vix spiking, i think we're above 17.95%, but we saw a big high last week, so we continue this uncertainty and seeing it. the sectors, we are negative across the board. as we approach the end of the quarter, some of the first quarter's biggest winners are the second quarter's biggers losers, energy and financials, leading the way lower today.
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again we are down across the board. i do want to point this out, this is one of those energy moverers. on a reuters report it colewded with a canadian rival to lower price land up for auction. energy stocks across the board down 13%. hitting the lows we have seen on record, peabody lows since 2009. we know crude is lower, but not as low as what we saw last week. we'll continue to watch that energy space. >> thanks, court. see you in a bit. >> sue, thank you very much. how do you play a day like day when there's so much on the radar? jeff kill burg is back. nice to have you with us. there's so many things to choose from. what do i do?
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>> the market expectations are so high. i'm actually foreseeing the ecb coming in to cut that rate from 1%, they could booster these markets. we'll probably get 21 basis points and play that in the euo. >>. euo is? >> the etf that double leverages. in the e67b9, ty, we'll see that price come down. >> anything else i should have on my radar screen? >> uso. >> you can play as oil stabiliz stabilizes. >> very interesting. we'll be back with you throughout the program. sue? people have been going to the treasury markets. rick santelli has a check of the treasury and see where the ten-year yield is standing. ricky, how does it look? >> thanks, sue, it doesn't look too bad.
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we're down about seven basis points from 167 on friday's settlement to hovering at 160 today, but let's add in friday. what goes up went down. you could almost see the symmetry there. we were anticipating that hope springs eternal every friday when we hear all the european promises only to be disappointed on monday. let's look at the bund. they're down a dozen basis points today. now, if you hook in friday on the one-two punch, you can see one difference between the up/down on yields, and that is that it's a little further down, because many were looking at the rising rates. well, whatever it was about, we played catch-up awfully quickly. tyler back to you. >> rick, thank you very much. it was not a health care ruling,
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but there was a key ruling that came down from the supreme court today. that was on arizona's controversial immigration law. it is a hot political issue as well. john harwood has it covered in washington. >> remember, four key planks of the arizona law were ruled upon. three were struck down, one was preserved, the one that allows police to stop and check the immigration status of people they suspect being here illegally. what you saw from mitt romney, was trying to take the focus, after taking a tough line on immigration in the primaries, now he said today's ruling underscores the need to have a president who will work in a bipartisan fashion. that's a softer tone. president obama interestingly spot lighted the part of the law which was preserved by the court, because that is offense i have been to hispanics. he's saying nobody should have to live under a cloud of
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suspicion because of the way they look first of all, arizona itself, which the obama campaign didn't really contest four years ago, but also colorado, nevada and florida, this is a key constituency, 9% of the electoral in 2008, probably more now, and you can expect this argument to go all the way through with mitt romney trying to soften his position without alienating his space, and president obama trying to magnify his advantage among hispanic voters. brian has a market flash. we're looking at later on friday they lowered their guidance after the close this morning. they had a conference call today and they said to immediate the higher end of their new range, they need several things to happen, so they're having contingencies even on that part
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of the lowered guidance. the stock is down double digits. sorry we don't have the chart. 572 at 4538. we'll take your word for it, brian, thank you. in a week from now, a europeanwide ban on iranian oil goes into effect, along with an euwide ban on insuring aniship carrying iranian oil. after talks designed to curb the nuclear programs failed in moscow last week. john hoffmeister's shell's former -- and ceo of u.s. operations. john, what kind of impact will this super? everybody knows it's coming, so i don't think we're going to see any surprise come july 1st. secondly, with respect to the overall available of oil, i think there's plenty of oil out
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there. even if iran's oil is not purchased by as many customers, the obama administration has basically eviscerated its own efforts to harm iran by granting waivers to many different countries, and i can't imagine that they would do anything to stop china from buys iranian oil, so i think iran will still have a market, there will be a way around the insurance issue, even if there has to be some kind of self-insurance, which iran will pay for through the don'ted price of oil. so i think this is going to be largely a nonevent. >> does it make life harder for a country like iran that is so dependent on exporting oil? i infer from what you just said, not really. >> i don't think so. there's several different levels of the market out there. the iranians have been pretty expert at finding ways to acquire nuclear capability.
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i'm sure oil trading will be an easy play for them. how can the u.s. use oil as a lever or weapon if it's indeed so easy to get around? >> it sounds like tough talk, but the reality is there's almost no substance in the policy. it makes it look like something is being done when in fact virtually nothing is being done, because oil is a a global commodity. it's going to find its market wherever it goes. while somebody can talk tough. >> that's a problem, isn't it, john? john, thank you very much. >> you bet. india announcing it will continue importing iranian oil, as john just implied. india is one of the iran's biggest buyers of crude, but
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they have cut back by 20% in the last year partly because of the u.s. pressure. sue? we're watching mother nature, ty. another story we're watching with a big impact on oil could be tropical storm debby. it's stalling, that is really bad news if you're in the storm zone. texas, louisiana, mississippi georgia, all feeling the effects, but the worst of it is on florida's gulf coast. the storm is spawning tornadoes in florida. these were tall on tape in the town of lake placid, florida. now closer to the coast flooding is the probable. this is video from the west coast, pasco county, just north of petersburg, and some were hit with a full 10 inches of rain. companies about facilities in the gulf have been on standby in case the storm threatened operations. several have evacuated personnel. you just saul the oil board down
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we're down 1.66%, bron is down almost a full federal. 78.47 on the crude market. they sure could use that rain out west. a series of fires still burning out of control. tens of thousands of acres have been scorched so far, a story we've been following for a week or so, ty. up next, santa claus is coming to town in six months, but if you're in the retail industry, you have to get ready right now. we're going to give you a full preview of the kind of season we're likely to have. first up, though, five big movers in the market -- no, we're going to give you ten, because that's the kind of guys and women we are here. there you go. choose control.
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the the count down to christmas never stops here. 182 days to go. while it might be a long way off for some of you shoppers, 'tis the season for retailers and people who following those retailers. there's the yule log. it's cold and snowy outside, and the tree is lit at 30 rockefeller plaza. only teesing.
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stacy is president of sw retail advisers. she live in london. and in new york, dana telsy. happy holidays, ladies. it is your time of the years in terms of following these companies. let me start with you, if i can, dana. what will you be watching right now? what are the key points? >> as we count down to christmas, i want to see how the back to school selling season goes. how we do in back to school is a great pour tender for the upcoming holiday season. i want to see some seasonal weather, and i think the other thing we'll be see is invite torrie levels guess leaner. selling through season merchandise, lack of price increases, and seasonal weather should add up to a better holiday for 2012 than what we had in '11. >> stacy, do you agree it will be a better season?
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>> well, you know, it depends on the weather. they were stuck with this cold we are merchandise they had to clear out of these really horrible margins, so that will be a big factor here. obviously we don't have the input cost increases this year. i think a lot will depend on how they position themselves as well as pricing. last year, the most promotional and earliest that promoted one share. this year, the same thing will probably happen, and in addition since input costs are coming down, will some of the retailers lower their basic prices. so far they want they won't, but we will see. >> we will see. dana, do you think they will given the fat commodity prices were much higher last year? and in addition, labor costs are down. not all, certainly, but for many of them. >> i don't think we'll see much
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lowering of prices what's happening, there's probably inovase and news in. we'll see an evolution of that, more muted tones, but it will still be there. >> who do you like the best in terms of the retailers? >> i think this upcoming holiday season we'll continue to see accessories fare well. michael kors should be one of the winners. american eagle certainly has a change this year than last year. that should bode well. we're seeing some changes in the winner's apparel, coldwater creek, tal bots maybe not benefits as well.
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but let's not forget limited and also not forget some of the big department stories like north strom's and macy's. >> stacy, if you had to put your money on one name, which one would it be and why? >> what i've been doing is focusing on the european exposure. i've been hitting the stores here for about a month. the guys like abercrombie, they will not promote. i think the promoters will gain share. on a positive note, certainly the limited is opening a victoria's secret in london. you know, really their biggest competitor would be marks and spender, who's having its own problems. and that's my favorite. >> yeah, they have. thank you, ladies, very much. an early merry christmas to you both. now to brian shactman with a market flash on a down day. believe it or not, mid cap index
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now in correction territory. take a look at two names in sectors really that might have xh existential problems. arch coal, down about 60%, where is the demand coming? a bit of a transition into nat gas. radio shack, of course a lot of people that model is under attack, radio shack down 58.5% year to date. back to you, sue. thank you very much. remember bernie madoff? there's been movement on his case. plus analyzing the analysts. three key calls, our turn to grade them. research in motion, netflix and boeing are on the list. we're back in a flash. [ tires squeal, engine revs ]
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and providing the apps and computing power to make new ideas real. it's the cloud from at&t. with new ways to work together, business works better. ♪ time to analyze time to analyze this, to break down the biggest analyst calls of the day. let's start with morgan stanley, downgrading research in motion to underweight. you know d. oh, now you tell me? >> news flash. >> they say the only way r.i.m. remains a viable, is a fraction of its size.
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the stock is down 7% today, 68% in a year. do you have any quarrel with this call? >> ty, this is a tough stock to trade. i was caught with my hand in the cookie jar at 12, but the corporate structure problems they have is reminiscent of yahoo! they're dragging their feet. 9 to 6 is another 33%, so i'm staying away. it is in trouble. netflix here, another stock that has had its own share. the firm putting a $6 price target. we believe the risk/reward is more balance -- one nice way to put it. it is downward estimating by 45% over the past three months, man. >> you want to talk about an absolute beatdown, this was an $300 a why are. but no doubt about it, they did get through it. right now, as they bring this original content streaming that
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could help them with a lift. $62 as a 52-week low. you could see a bounce. >> a $67 start on the stock, look at the price. it's $66.69. c'mon, man. >> they don't want to jump in the pool. that happens with a lot of analysts. boeing getting upgraded. it says the upgrade to $90 a share, if manufacturing issues are indeed being resolved. the 787 results the bulk of the top-line growth. back to even for the year on this stock after a sell-off a year earlier. they're saying $90 on this. buy it. >> most traders like myself are skeptical. i do like boeing.
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in the global macro issues, i think it does -- >> jeff, thank you very much. and the metals markets are about to close. we're going to hit the nymex after this short break. we'll be right back. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. it's no wonder so many investors are saying... this is new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs.
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hi, sharon. >> i'm definitely tracking the action, sue. we are looking at gold closing near the highs of the session. now that cypress needs a bailout as well, a lot of traders are saying they're looking for a safe haven and looking at gold for that safe place to be. we have expirations at the end of floor trading tomorrow the skee strike price 1600. we'll see if that's a magnet, but it has to do with the risk situation and how much people see risk in the marketplace.
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particularly equity traders, the way to play it right now, is to be in the slv, and to be in the silver market. back to you. >> sharon, thank you very much. now to the action here on the floor of the nyse. courtney reagan is back with us. i was looking, the transports are up 114 points on the trading session, while energy is down. it's very convoluted. >> this is a confusing market i think in general. we can't get out from under europe's thumbs. so sort of extending this negative market segment. we don't know the exact terms for spain, we should know sometime in july.
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the italian ten-year also surpass 6% for the first time in a week, so these are key debt levels. world of course watching spanish banks, but u.s. financials also under pressure. morgan stanley down nearly 5%, bank of america below $8 a share. we know a dow component, too. as art cashin sell the market tried to smile, but the best new home sales readings in two years managed to pop only to see them reteeth again. we do have a number of pharma movers today, but teva, the u.s. supreme court validating patents for their -- we have blood clot preventing drug from bristol-myers and fizers, and approving engineered verse of the hyperactivity drug, we're
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fairly familiar. a single pop there as well. >> courtney, thank you very much. we're down 146 points today. you mentioned some of biotech firms jackie deangelis is following some of them. >> it doesn't feel great at the nasdaq, either. and some of the biggest stocks, you can see them here, apple, microsoft, google taking big hits that, then there's rimm, this one a downgrade for morgan stanley to an underweight. the issue here, some of the concern coming around the new phone that's expected to come out. even if it does well, it may be too late, of course r.i.m. already reporting earnings later this week. we saw some strength last week in the biotech names, but seeing some selling pressure as the risk is coming off the table.
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tyler back over to you. four-month high, jeff killburg, which side would you -- >> wee seeing a limit he, just talked to the wolfman, people are getting crazy there. it goes back to the farmers. right now they're some of the sharpers traders in the market. there's a lot more room to run. don't try to short this. >> go with the trend. >> trend as your friend. >> thanks, jeff. a handful of ipos are on tape to make their debut this week. how will they fare? joining us with a preview is kayla tausche itches hi, tyler, certainly a where the ipo market completely dried up, the last time that happened. four companies are looking to
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tap investors with just under $600 million in total proceeds. by its 75 billion ipo. at the searo, and eqt midstream is a master limited partnership, it's aiming to raise a quarter of a billion. and the i.t. cloud company servicenow valued, if it raises $186 million this week. they compare small to facebook's deal, which of course single handedly propped up the year's ipo value. if you exclude facebook, volume is down 52% from the same time last year according to dealogic. it wasn't the cause of the slowdown in activity. facebook itself went public in an unideal macro environment. and sources say if it-been so closely watched, it too would
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have been delayed. the main indicator used by underwriters to see whether it's a good time to go public is the vix. so while it's good news to you four companies in the pipe lynn, with that performance today, it may mean they don't all happen. we know that e.q.t. is set to price tonight. that's the one to watch tonight. it has been a very busy week for the red-hot start-up flipboard, teaming up with google. just today inks an exclusive deal with the "new york times" to carry the premium content. that's the first time that the times has ever allowed such third-party access to all their content if you're a subscriber. "power lunch" exclusive now, let's meet the man who is sailing that ship, flipboard cofounder and ceo mr. mccould you. >> thank you.
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great to be here. >> mr. mccue you have been on the -- on the board of twitter. why don't you take this opportunity to tell us exactly when twitter will go public? >> well, obviously i can't comment on that, but twitter is an amazing company that's growing incredibly fast, one of the very few companies that you can say is legitimately changing the world. >> when you're at the helm of a company like the one you're running and on the board of twitter, how do you think about the question of staying private versus going public? you can take it out of the context of your individual companies. >> yeah, you know, i think you have to recognize that the world that we live in is very cyclical. some of the very best companies ever created were build during down times and through down
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times. just look at google, for example, or facebook was, you know really hit their stride during at the 2008 crisis. i think you have to look at it for the long haul. i think you're seeing a good crop of high-quality companies focused on good solid revenues, profits, but most importantly great products that people love. as we focus on that, ultimately you'll have a good market, lots of ipos. >> mr. mccue, to tyler's point, the fact that the facebook ipo did not exactly go as planned action and the problems that have ensued since it, there's a lot of talk that perhaps it's actually not advantageous to become a publicly head company, it can distract from what you have to do day to day, and you're beholding to such a large group of investors, perhaps it doesn't let you execute the way you would be able to if you were a privately held company. >> there's no question that being a private company allows
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you to be able to move quite a bit faster and take some bigger risks, and being a public company, you know, you do have some of the down sides. other than the, i do think being a public company is a natural milestone is becoming a large and important company, so ultimately you have to go public. the real question for entrepreneurs is when? what's the right timing? when should you do it? you shouldn't try to go too quickly but you shouldn't wait forever, either. let's talk a bit about your new arrangements with numbs number of times. you mentioned milestones. this is clearly one for you and for them, as they allow subscribers to their print product to get for the first time full access to their content through an intermediary or an aggregator like yours. tell me what you have agreed, what's in it for you? what's in it for them?
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>> this is one of my proudest moments as an entrepreneur, to work with an organization as iconic as "new york times," and give that to all our readers is just amazing. digital subscribesers who have access to "new york times," starting on thursday will be able to read the entire "new york times" on flipboard. it's fast, it's gorgeous, it loads quickly. you'll be able to navy gait, and "new york times" content will be able to be shared across they different social networks like facebook, twitter, inthat gram, so on. so it's a very being deal for both "new york times" and for us. >> what about the ad revenue? do you split it evenly? do you get the lion's share? does the times? how does that work? >> we are working with "new york times" like we do with many other publishers to help them sell full-page print-style ads.
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the publisher keeps the majority of the revenue. flipboard gets a percentage of the revenue. >> one quick question on twitter and your role on the board. there have been some sorts indicating you may leave the board because of the a possible inevitable collision between your media at flipboard and twitter's. do you want to comment on that? >> i can't comment. i'm still on the board at twitter right now, but there's no question that the two companies are playing in the same space, and that's something that i've talked to dick and jack about, and we'll see what we do. i want to make sure that it's clear, i don't see it as a collision as much as i see the two companies being able to work more and more together. twitter is a fundamental part of flipboard, and so i think you'll see the two companies work more and more together. >> there's even been some talk they might be an acquirer of
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yours of flipboard. i've heard that talk, but flipboard is not a company we're building to sell quickly. we're only two years in. we have a huge amount of opportunity in front of us. i'm the kind of entrepreneur that wants to build a company for the long term. i would never say never, but that's not our stance right now. >> thanks for taking all our questions. >> my pleasure. >> congratulations on the deal with the "new york times." we'll have first how the major marge are faring. it's a difficult day. down 147 points, 21 points to the negative on the s&p 500. the nasdaq is down 53. cramerica is growing a winner in the fast food showdown, a health food chowdown designed to making money.
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brian shack mar here, a downgrade from a buy to neutral, saying basically their position in europe isn't very good and mid level pricing point in china is a negative as well, the stock down 8.5%. let's see the volume of stories on "street signs" of course mandy driery, pick me up. perfect segue. a pretty tough month, but we have the big-cap names that are really jumping in june. plus investors taking netflix to the woodshed for about a year now, why one top analyst says it is time to buy. and the bromance that's budding in the beer aisle. it's always 5:00 somewhere especially in australia, where it pretty much is always 5:00. thanks, mandy.
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to the housing market, a new u.s. home sales rising to a two-year high in may. diana olick is live in washington for us. >> hey, sue, you're right, the numbers came in higher than expected, so always a good thing, but also important to remember, sales of newly built homes are up 7%, but look at the volumes 1.4 million new homes sold at the peak down to the bottom at just 273 thond annualized in now around 369 k for this year, but look at this beautiful historical chart. 850,000 new homes is considered a normal healthy market. now to prices. prices took a big leap as well, up 5.6% from a year ago. believe it or not that may have to do with a drop in the supply of foreclosed homes. those have been competing directly with new constructions,
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because many are relatively new homes. buyers who don't want the older homes are apparently -- the median price is about 30% higher than existing homes. that's double the historical average. this recovery is rocky. you can see it where the sales are, up in the northeast and south, but still down in the midwest and the west. we also have to remember that at seven small volumes they monthly moves are more volatile. we're also not seeing new demand. we're going to discuss that on a new report coming up on "street signs." until then, you have it on the blog. >> thank you very much, diana. new developments in the bernie madoff case, including a weigh-in by the supreme court. scott cohn is here with that. >> all in all this would be good news for investors.
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first the supreme court. while we were waiting for the justices to make a decision, they did make a decision. the high court said it will not hear a pair of challenges to the trustee's formula for calculating claims. that means the formula stands. pick ard says that clears the way for eye big payout. he's already distributed another billion, eye $8 million and counting once the court challenges are cleared, and separately new york attorney general eric schneider man says he's reached a settlement with ezra mercken, who ran four feeder funds. many of the investors in those funds were charities. schneider men says there is a catch, because irving pick ard, trying to recover assets for all of the investors has already
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signaled he want to lay claim to the merkin money. they've done remarkliably considering 3 1/2 years ago. it now turns out many victims will recover about 50 cents on the dollar, some even more than that. considering what we originally thought with p ponzi scheme, that's a lot. >> that's surprising, 50 cents on the dollar possible. >> absolutely. >> thanks, scott. we're going to go back to the new york stock exchange with a view from the floor on this down day. let's look, and you see the industrials are hovering right around 150-point loss. the s&p is downs 1.6%. well the kids wanted a puppy, but they can be really expensive. so to save money i just found them a possum.
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will france be next to fall into the eurozone crisis. nobody has the answer. of course, it is a big concern once we get past spain, italy greece, we turns or attention to
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the crisis. lots of headlines, lots of chatter early in the week. is it stuff i need to be paying attention to? >> there's a lot of point white noise, still peace nuts really in financial terms. you've had the great -- they'll get another one, not a big deal. the central problem you have is this standoff between france and germany. when angela merkel said we have the big summit, effectively she's worried that everyone will fixate on joint liability on euro bonds or arguably bank guarantees. in her view, that's not right, feasible or possibility. you have the frenchal odds. they'll say, look, if you want us to go through we need more german money effectively. so watch the summit toward the end of the week. it seems to me as well if
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hollande along with people, feel they have nor leverage? >> they're not deeply divided. >> it ain't sarkozy anymore or -- >> that razely is the issue. the question is, if she doesn't give ground, if they're not going to move forward, we may not get the short-term stabilization we need in the market, the bolt-on extras, such as buys -- >> simon, thanks very much. >> sue? >> sitting next to me is kenny pulkari, you were shaking your head in agreement, saying that really the market's in a wait-and-see kind of mode. >> i wouldn't call it white noise. i think this is more. i think there's other noise clogging the airways, but i think this is very, very real. even on thursday/friday they're not going to come up with a
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magic swoop of the pen and say everything is great. >> well, is it going to sell off? we're selling off a little bit today. you want there's a test of technicals ahead. >> i think we'll test the -- i think the market will go there, and i think it will find support. i think there's still plenty of money on the sidelines. we're still the prettiest girl on the block, so money needs to go somewhere. i think it will find its way to the u.s., but buyer will not jump -- as people say it's ary-off day. there are plenty of people buying it, putting risk on, in fact. i think it's very, very key and i think it will hold unless there's a complete implosion, i think it will hold. >> do you think we've seen this movie one time too many, so the expectations have been lower? >> i think the expectations are
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quite low. they're going to come out with more charter, more talk, more discussions, more ideas, but i don't think has said this is a plan and this is how it will work. i think the expectations are very low, and i think the market is prepared for that. >> okay. on that note, kenny, thanks so much. much more on this big down day on wall street. one of the topics we are talking about is the gold market. that's two minutes away. joined together... y-five e ...to ensure consistent academic standards across america. these internationally recognized benchmarks... ...are unlocking a better way to prepare our children for college and their careers. because when our kids do better... ...america does better. let's reach higher. let's invest in our teachers and inspire our students. let's solve this.
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brian schactman here. the dow transports underperforming yet again today. now below that are 200-day moving average. well, not today. they're leading transports do the down side. >> make the case for gold. you say 2000 is not far-fetched. >> no, this global effort coming to fruition, i feel like its imminent, pushing that safe haven trade, the gld, ty. >> if the central bank moss -- >> they're moving. >> it's also being supported by the volume we're seeing, like the silver market as well. the

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