ending on a low note for the markets. dow down 170. the nasdaq down nearly 2%. that will do it for "power lunch lunch." sue, have a great weekend. >> i'm off next week so i'll see you in a week, ty. "street signs" begins right now. and welcome to "street signs," everybody. happy friday. stocks are wilting in the heat. what will it take for investors to put the bad jobs number in the rear-view mirror? a task force is coming up. the song goes, mama don't let your babies grow up to be cowboys but what about welders? plus, bean town versus the big apple. we'll go to see who is number one and we're trading the globe, folks. will your money be treated better abroad? in the meantime, look at what's happening with the market.

how did wall street like that jobs report? not very much. the dow in the middle of the biggest one-day slide since june. they're on pace to post weekly losses for the second time in three weeks. the nasdaq meantime will also see the end of a four-week string of gains if it can't rebound before the closing bell rings. let's get out to mary thompson and rick santelli on the selloff. good to have you both. mary, is the market possibly seeing the jobs number not actually bad enough to bring in qe3? >> that was certainly the sentiment. that's what i heard from a number of traders. the minute of the report, i called them, e-mails. this is the problem. not weak enough for qe3 and a reason seeing this kind of decline today. also, of course, we are sticking with what's been a tradition now for the jobs friday since march 9th, mandy. all resulting in friday selloffs for the marks. we have winners in the market.

bonds. rick talking about that later. discounters are a winner here at new york stock exchange showing strength in a very weak market. the euro under pressure in the wake of the jobs report and the s&p tied closely to the euro. down 17 points. dow movers tell about the broader markets. biggest decliners i.t. or tech stocks. there was an earnings warning keeping pressure on the group so hewlett-packard, ibm, microsoft, among the dow losers. back to you. >> mary, thank you so much for that. we'll continue to watch the markets over the course of this hour. rick santelli, i want to bring up a chart for you and your viewers. basically job creation after the recession for president bush's first term. and for president obama. now, the green and the blue lines are government jobs.

the red line, private sector jobs. both men have similar private sector growth but the difference is stark with government jobs. what's your take on this, rick? >> first of all, it isn't government. let's be more specific. those lines are local and state hiring. and we had a tech revolution in the '90s and not surprising the states spent like drunken sailors and hung over and didn't put anything in for a rainy day. take point two. i don't really care what states do. doesn't come out of the federal tax pocket. now, when it comes to private sector, you know, george bush was welcomed with a tech wreck. handed to him by the clinton administration. and he was also welcomed with a horrible event called 9/11. i didn't hear him blame the predecessor or blame the terrorist attacks but that probably explains the private

sector and recoiling from the tech wreck. who's president today? barack obama. i can't even believe we waste time with these charts. not you, mandy. but in general, economists pulling the charts out. right now, rome is burning. we need jobs. >> yeah. >> and to think that economists want to pull out the comparisons, i don't care who killed the economy. i just would like somebody to resuscitate it. >> here, here. more action. thank you, rick. the big question is, what do you do? what's an investor to do in the wake of another lackluster jobs number and more signs that uncertainty is restraining growth in this economy? let's bring in nick sergeant, chief investment officer of ford washington investment officers and mark stepper both from ohio. welcome to you both. thank you for joining us. >> thanks for having me. >> you say that the jobs number is disappointing but not a game changer in terms of the market. why? >> we got confirmation that we

are in a global slowdown. you could shrug off the previous employment reports and say maybe that was payback for better than expected numbers. this one you can't. this one is -- it's clear there's a worldwide slowdown and having an impact on the u.s. that said, we are not in the dire straits of don't get in double dip territory again. i don't see that risk when the auto sector's doing reasonably well and housing stabilizing. i think it's just kind of 2% or less growth is the story. >> nick, it was not a game changer. does it change anything at all in terms of what i do with my money from here on? >> well, i think, again, these have been very tricky markets. risk on first. and then risk off. they got scared and then did something in europe. i think, you know, i think people -- the hard thing is i'd like to be a longer term buy and hold investor. in these type of markets, you can't. if you get a good rally, take some profit. if it sells off, that may be a

buying opportunity. i think that's the name of the game in this type of market. >> on that note then, mark, on a down day today, would you be buying as a long-term investigation or the or seeing greater lows from here? >> there's always ups and downs in the market but buy and hold can still work but a bit selective. so for the clients we are looking at a five-year time horizon and i think over next five years if you really focus on dividend-paying stocks and high yield bonds in the slow growth environment we're in because this environment will persist over the course of five years, i think you will do very well and very comfortable with the risk adjusted returns you can get. >> mark, is this slow enough growth for qe3 and do anything at this stage anyway? >> i hope not. i think qe3 would be a disaster. if you look at what's happened as far as stock market rallies go after qe1 and 2, operation

twist, ltro, we are seeing, you know, really the law of diminishing returns. the stock market rallies are shorter and shorter, not having an affect on moving the markets right now. not to mention the fact of qe3 to weaken the dollar. we need a strong dollar. consumption makes up 71% of the economic growth. >> the strong dollar is hurting so many multinational u.s. companies. >> that's okay because in the end we need that dollar to be strong. consumption is really what drives the economy. >> nick, what do we do in terms of investment strategy and i have to ask, i mean, what's it mean for the race of the white house and what do you think investors think about that? >> absolutely. first issue, i agree with what mark has to say. in our fixed income portfolio, we like high yield and conservative high yield. the b space, not the c space but that said, when we saw the yields had come down, what i'm

describing as tactical is took some chips off the table and if the market backs up yields we'll go back in. that's all i mean by being tactical. we have a dividend portfolio. we compliment it with a value portfolio so we do have a bit of both. now, turning to -- i do think if there's anything about this report that it tells me this election goes down to the wire because the issue is jobs. president obama would love to see that unemployment rate below 8%. that's kind of considered a key threshold. i don't see how we get there in time for the election. i think if anything it may go slightly to the north of that. >> would you agree with that, mark? what would you do? >> yeah. as far as investment strategy goes, again, i really feel that, you know, we just need to -- you need to tune out all the noise. investors in general really need to separate your market outlook from your investment strategy, figure out what your time frame is, time horizon and come up with a good, strategic, you

know, portfolio that's going to work and just help you to sleep at night and most important for the clients is not having to experience the heart ache of the market up % do2% and then down >> sleep is highly overrated i say. enjoy the weekend. >> thanks. earnings season on monday with alcoa after the bell by tradition but is that reason to celebrate to? if we just put the jobs number in the rear-view mirror because your outlook hasn't changed, look forward. earnings season going to start. does it kick us to the downside or upside in the markets? >> i think earnings could potentially kick us to the downside. we have seen a number of companies issuing downward guidance. in fact, we have seen about 19%

of s&p 500 companies in recent weeks issuing downward guidance and generally citing one of two things. either weakening margins or global sales. and that's not that surprising given the environment that we're in. >> it's interesting you mention global sales and seems in the past people would say i'm diversified overseas. this gives me growth,trength for diversify case. i would say it's a negative for u.s. companies in some cases. >> well, certainly, our long bet standing bet is that you should be overweight u.s. equities. for sometime. and that's just because the issues that the euro zone with dealing with are chronic, structural solvency issues that are very, very difficult to deal with, and therefore, you know, will take quite a bit of time and the ecb isn't exactly known for turning around very quick decisions and quick panaceas.

and that is exactly what we have seen. we're now going in to i think summit -- emergency summit number 20 on the euro zone cris crisis. that tells you how the ball rolls. >> who do you think will do well in earnings season? >> well, i think the more defensive that you are, that's probably going to be important. i think our general view has been that when there are rallies, they tend to be selling, selling signals and in those rallies we really like thing that is are defensive. it's not surprising. earlier today mandy talked about discounters doing well in the dropoff in the market. >> and that exactly matches kind of how we see markets. you need defensive revenue streams and a client base that absolutely has to purchase your product. if it's discretionary in any way, folks think twice about how

to save money. >> right. okay. great to have you on the show. thank you for your thoughts. coming up next, there's a plan to turn factory jobs in to white collar jobs of the future and setting the sights on your kids. we'll explain that. and it's an unparalleled rival rivalry. boston versus new york and way beyond baseball. which city is really king of the hill? stick around. ♪ ♪ ♪ ♪ [ male announcer ] what's the point of an epa estimated 42 miles per gallon if the miles aren't interesting? the lexus ct hybrid.

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all i can say is ouch. a new low for nokia. 1.92. this stock down 93% over the last five years today alone down by nearly 5%. well, as we have been telling you for a while now, a big part of the jobs crisis is lack of skilled workers. last hour you saw how america's manufacturers are turning to women to fill the gap and now phil lebeau shows us how they're targeting kids. phil? >> reporter: hi, mandy. we are here at chicago tube an iron where when the manufacturing sector added 11,000 jobs. added half a million over the last couple of years but the one job that manufacturers are struggling to fill -- welding. they have got several here at chicago tube and iron and seeing more and more in the industry making efforts to attract kids

to manufacturing. and to belding. we went to a camp with more applicants than it could take including teenage girl that is enjoyed flipping down the welding helmet. >> it's fun, different than anything i've been to. i was at a different camp last week. through my church and came here and then it was like, this is different. >> the welding part is at first really hard to get. and then it got a lot easier. >> reporter: she may be pint sized but handles the welding torch all right. the boy scouts of america offering a welding badge. again, this is all part of the effort to get kids exposure. they believe it's part of offering more career-oriented badges and some of the scout that is we talked here in the chicago area said it looked pretty cool. >> i've always had an interest in it. i've seen doing it on tv or in the movie where is they're

cutting open a safe or something. it is like, wow, that's pretty cool. i should learn how to do it. >> i think it's cool. gave them an opportunity to do something as an occupation. not just, you know, the traditional scout skills but they can actually learn a trade. >> reporter: why are the scouts and manufacturing companies pushing this exposure to kids? because there are going to be about 180,000 welding openings over the next decade as the current welders retire. they need to fill the jobs and at the scout camp, i saw about 15 openings for welders starting at $23 to $28 an hour. and the person who runs this place says this happens all the time. he cannot fill the jobs and we're talking about caterpillar, deere, the companies looking for welders. >> who knew? thinking of girls and welding is flashdance, right? that welding scene from "flashdance." phil, thank you for that. the question is whether getting

youngsters in welding works and what else needs to be done to jump starting hiring? let's ask brian hamilton of sageworks. what do you think about getting youngsters and particularly women in to areas of manufacturing like welding? >> it harkens back to the rosy the riveter days of world war ii and funny listening to the kids and the women but driven by the growth of the manufacturing sector, mandy. it's growing quickly. there's lots of revenue and started early and really driven by the company that is need the positions filled. >> i mean, people always think of the holy grail as going to college, right? and then a few years at college, might do some fine arts or psychology. not necessarily laser focused on matching what your skills are for what jobs are out there. so i would imagine that maybe there needs to be a stigma taken away from a manufacturing job and straight in to an

apprenticeship. >> right. you opened up a can of worms. in our culture, of course, the whole thing is go to high school, go to college, get a professional job and seeing a shift. it's driven by the marketplace. there are a lot of jobs in manufacturing, paying well. i want to sign up, by did way. it's a lot of demand out there. but i think you're right and it opens up a big conversation. the traditional route of going to high school, check. going to college, check. and then getting the professional job may be changing. >> you know, i want to bring in going away from the welding and mo manufacturing for a second because this morning after the jobs number, president obama came out and he painted a much rosier view on the jobs report than i think people are reading. let's have a listen to what he this morning. >> businesses created 84,000 new jobs last month and that overall means that businesses have created 4.4 million new jobs

over the past 28 months, including 500,000 new manufacturing jobs. that's a step in the right direction. >> a step in the right direction? >> yeah. >> really? >> he's -- well, look. he's on very soft ground. we all know that. the truth is we've within stuck. we're in the muck. no doubt about it. 8.2% unemployment. it's not moving. i understand why he has to make that argument. now, let's go on the other side. it's fascinating. we track the 27 million privately-held companies. the revenues are up. the profits are up. margins are up but not hiring people. so he's on super soft ground. no doubt about it. on the end of the day, he is judged on that unemployment rate and it's stuck. it's definitely stuck right now. >> probably no choice, does he, but to paint a rosy picture. brian, thank you for joining us. >> great to be here. which state has the best wo workforce? which is most business friendly? which is the top state for

business? the results of the study and an especially big deal in a presidential election year. it all kicks off monday right here only on cnbc. and online at topstates.cnbc.com. meantime, let's get to scott with a market flash for you. >> there are some pockets of modest strength, even on this down day on wall street. i'm seeing it in the lower end retail names. dollar stores like dollar tree and dollar general up. walmart is flat now. interestingly enough, you will see jcpenney not par tis participating as the lower end retail names have a good day. mandy? >> thank you very much for finding the bright spots for us. just ahead, how badly will eurosis infect next week's results? kindle fire is a big hit and now they want to get in on the smartphone business. you have to dig a little.

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far outweighing the advancers and i guess it's it's probably the same for the new highs. that's interesting. nyse, 113. new lows only 7. well, how badly will fears of europe infect next week's earnings reports in america? it's the focus of trading the globe at 7:30 p.m. eastern. tim seymour is my cohost on the program. >> hi, mandy. >> we'll be talking about the earnings season here in the united states next week, how much the commentary is about things are okay here in the states but hurt in the asian slowdown and particularly a european slowdown. >> yeah. i think the worst-kept secret for people investing in the multinationals is a great way do get the em exposure and talked about the yum brands, nikes and yum and nike are two examples of companies that warned in the last couple of weeks and had the stocks knocked down massively. so going in to the earnings season i think a safe place is

mcdonald's and coke and the valuations of the companies look stretched. we'll get real insight of how well or disrupted some of the businesses not only because of europe and also in places like china where margins may be down. may boar costs in china going higher and the em story and for the u.s. multinationals with shang la is a problem. >> i imagine the headwins, as well. >> coke's a company everybody knows about, 52% of their operating income comes from emerging, another 26% from europe. f x taking 250 basis points off the operating profit and to hilt the numbers overall because of the currency effect the u.s. operating profit's growing 7% or 8%. coca-cola which everybody knows is the global u.s. company

possibly is definitely suffering under the weight of the fx effect. latin america, the brazil real which is a darling place and currency for people to have exposure to in the last four or five years, last six months had a tremendous, tremendous problem with the government trying to reconcile that the economy is uncompetitive at 155 and been moving things weaker. watch coke. >> so where do you hang out then? either in the em world or u.s. companies with exposure? where's the safe haven now? >> well, i would say if you're looking at the u.s. companies, again, yum brands to me who we covered last show is an example of a company that actually despite the fact that china is really where they're getting the growth, growing in places like india and people haven't seen the benefits of of that growth hitting the bottom line yet so i think you don't run away from the names back to me on valuation. company like yum, they're

growing in china. i would think you continue to keep an on that. >> right. >> within the em world, look at relative value and talked about this. not all of the markets go up and down at the same time together like they used to. >> so true. >> so i like brazil over mexico here. russia over turkey. these are trades to play. >> we'll talk more about it tonight, aren't we, tim? >> looking forward to it. >> that's tonight 7:30 p.m. eastern on cnbc. coming up next, it is a sea of red out there. why isn't gold up? tracking upside surprises, a few stocks that herb loves to loathe. they're in the green today. why he says this is a symptom of a very sick market. back in two. tdd# 1-800-345-2550 let's talk about fees. tdd# 1-800-345-2550 there are atm fees. tdd# 1-800-345-2550 account service fees. tdd# 1-800-345-2550 and the most dreaded fees of all, hidden fees.

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okay. herb, i want to start off with gold and falling. this is kind of interesting following the jobs report. it signals to me, number one, certainly no longer a foolproof safe haven but also number two is cig untiling that people don't think there's qe3? >> for today. >> for today. >> gold at a rally mode and the

place -- i still think it's a place for people to turn when all else fails. >> a much stronger u.s. gold. >> today. >> today. okay. navistar. navistar, you were talking about this yesterday. what did you make of the new announcement? >> new engine. grasping at straws right now. trying to make over the company and some people as one analyst said it's like smoke and mirrors. an engine everybody else is using. we don't know what the company will spend. >> the cost to transition. >> we don't know down the road. analysts saying they have cash issues. the company said that they've got access. they believe they have access to capital in the future. >> one of the companies that has been on the hit list in the past, green mountain coffee roasters. >> it and a few others defining the market. in the green today. it was up the higher the market when you can see it's coming in but the lower the market went,

the higher green mountain went. >> it's not just today, right? >> no. classic sign -- >> significantly over the last week. >> a classic sign of how sick the market is. there's no news. everyone's talked about. people can fuel these kind of stories with a rumor. these kind of stocks with rumors. >> it's up over the past five days. starbucks is down over the same period. go figure. netflix. just turned negative. >> in the green today again because of the streaming news and the facebook leak or i would disclosure of hastings. one thing people started to hit me up with, is it because it's a hot summer? people staying inside and we're just streaming more. >> i sit on the air con and putt on the netflix. watch a movie with the kids. >> you are living proof. >> rim, it's not had much good news lately but today it's moving higher, quite a lot

higher. >> i think i know why. today it's higher on rumors that amazon.com will do something with rim so they can get in to the smartphone business. >> hearing this from where? >> i made it up. it makes sense. if you want to think a story of amazon.com in the smartphone market and rim seem to be what people speculate is to do that. >> good point. when's the delay with diamond foods. >> a quick thing and that is the company is up and you look at the up 5% because the company got a stay of execution for being delisted of the nasdaq. on july 5th. now they have until a hearing on july 26th to see what the nasdaq does. and this is as the companies forensic committee on the board goes through to figure out what went wrong at the company. >> we get back to amazon. you mentioned them a moment ago. they want to get in on the

smartphone game. is this a stupid move? it's a crowded space, jon. >> it is but it might not be totally stupid. here's why. look at mozilla. a foundation, nonprofit. google pays them to send traffic to its search ads. you think about as a cost of google to create revenue. if the battle now is mobile, and people are going to have to spend to create revenue on mobile, then maybe it makes sense. the doinger is if you fail in hardware, you lose tons of money. you got to win. >> what would make them think and what would them think to actually come out and crack this market? other than something that's really a niche. unlike the pad market, the tablet market, i mean, this is just a market that no one makes it in other than the key guys.

>> tablet, i would say they're out. they're not making money with the fire or the nexus 7. >> but the kindle did make it. the original kindle made a big mark for itself. >> yeah. units. but losing money on -- >> that's the problem. >> is it potentially an iphone 5 killer? >> oh, come on. did you really ask that question? no way to stand here on national tv and say it's impossible. what do you think? >> i think probably lower end of the market where cheap android phones are. maybe prepaid. not competitive with the ipad 5. >> maybe u.s. only? who knows? >> probably at first. that's the kindle fire. you want to test and make sure it works before going global. >> what do you think of my theory that perhaps if they were to go this route to take assets and patents of rim? >> talking crazy -- >> yes. >> that would be just crazy enough to be viable, yes. >> nothing is ever out of the

question or off the table in the markets. you should know that better than anybody else, herb. thank you, jon. coming up next, a pistol-packing dose of sunshine on this dog of a day for the dow and the industrials losing that loving feeling they had at the end of last week and limping to the end of the holiday-shortened week. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve.

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i'm bill griffin. closing bell, we're closely monitoring the selloff and a volatile last hour trade. do we come back or does it sell off intensify? will the weak june jobs data force the fed to take action? and are we now in a zombie economy? what does it take to resurrect this recovery? we'll look at this story and the consumer protection financial agency planning to overhaul the mortgage market. will it streamline it or make it harder to get a home line? the director joins us coming up. we look forward to seeing you at the top of the hour. mandy? >> indeed we will. thank you very much. we're packing a little heat in the sunshine. another all-time high of smith &

wesson. gun sales have been surging. currently down 1.9% today but nonetheless. groupon is the disaster. what's going on? down 4.5%. >> new 52-week low. the pal rocky would tell us who's done a tremendous job on analyzing this company, really still comes down to the model and the company reports this earnings season an important turning point for this company. >> indeed. not hard to find disasters in the market today. >> not today. let's find out more with mark shea at direct access partners. is this a day for you to buy or to sell? >> wow. that's a great question. it's probably a day to just actually sit back and watch everybody else. you know, when's interesting is at 2:00 last time i checked volume we had lighter volume than yesterday, even with what everybody calls kind of a pile-on acceleration form of bad

news we got this morning with less jobs created. >> hey, mike, this is herb greenburg. what happens on monday? that's what i think when everybody comes back to work, do we get back to the races? >> actually, i'd be little bit concerned about monday, especially based on that volume stat i just gave you. if more people come in to the market and say, you know, and they just weren't prepared to actually trade today, or they're not available to trade or somebody couldn't reach them on the golf course, who knows, the fact is on monday we'll have everybody at work and there's really good chance that we might get a little bit more of a follow-on decline. the flipside to the argument so you know, i don't mean giving you that, too, the fact we get a weekend to digest the numbers and an analyst to look at them and maybe a silver lining i'm not seeing. >> then we launch earnings season and there we go again. >> yep. >> you know? starting with alcoa. >> yep. >> is there any sense from what

people are chatting about with you what they're thinking this time around? >> yeah. actually, with the bar set so low today, for the jobs number, and not being able to actually get over that bar, we got this double negative and so, the people i've talked to said they're kind of going back and reassessing what their lower expectations were for earnings this quarter because we know that we got some disappointing earnings last quarter. it doesn't matter whether or not they actually outperform the expectations. there was a lot of negative forecasts going forward out of last quarter. >> right. >> so now what we have to do is say, okay, did we set the bar where we need to set the bar? friday, next friday, when jpmorgan reports earnings, that conference call, you could seat madison square garden people on that call. >> agreed. what do you think you'll hear the most when companies report? one, europe is to blame and the

strong u.s. dollar? two, you know, things like health care? or is it, three, political uncertainty or something else to throw? >> i think one and three. health care has its own way and it has -- it's -- health care will trade in its own way. but the other two i agree with. what we'll see is people saying, look, we have issues in europe not resolved and creating a slowdown. i would be surprised that companies out of the health care sector would be blaming health care. >> how are you positioning yourself? how should we be positioning ourselves this earnings season to make money or at least not lose money? >> yeah. you know, this is -- this is a market where for the last probably ten months we have had the exact same mantra which is

stocks that pay a dividend, you know, consumer -- cyclical stocks, stocks not necessarily vulnerable to, you know, growth and no growth. and so, for me and for everybody that i'm talking to that's still really pretty much the way to go. it would be great, it would be great if we could say, look, there's a growth story in here somewhere and down the road there still might be at the end of the year we're probably higher. >> mike, when i talk to people in the markets they say, i'm having trouble finding stocks i want to buy. that's more disconcerting here ae and getting in to the earnings season, seeing scapegoating and one thing mandy didn't bring up, the weather. the retailers really talking about the weather. but we're going to start talking about everything but the scapegoating. europe, let me ask you this. you know, europe isn't really skap goetding, is it? that's real. that's especially real in the foreign currencies front. >> it is absolutely real.

it is absolutely real. it's also -- it is also the one component that we can never quite put our finger on. it is the one component to never quite understand because this is geo politics and so the idea of saying, someone's earnings down because of x or someone's balance sheet looks like this, those are all numbers and understandable, but when you get in to the geopolitical turmoil, it is a completely different baby. >> one that's almost impossible to control. thank you for joining us, mix. next, the yankees may have the upper hand with baseball in 2012 but which city takes the cake as the best overall? a heated debate when "street signs" returns. plus, the windy city to trade the close. there's a lot of red out there on the s&p 500 heat map. will the coming earnings season calm fears? we'll be right back.

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a big four-game series between the yankees and red sox is set for this weekend. does it go beyond baseball?

"boston globe" writer neil is here to tell us more. where's the biggest competition spots here? >> well, it goes back to history, to the spots here? >> it goes back to history, to the beginning of the country. it goes all the way up now to the future. through the technology and the brains, that's really where it's headed now. >> technology is there for winning in which camp? >> for so long, boston has prided itself in being a number two. silicon valley is so ahead of both. new york is now nipping at it's heels. they haven't really had to pay attention to one particular area. now with what you're seaing with the new university their building and roosevelt ilan, they're going hard at the tech sector. and to get to the silicon

valley, they have to step up. >> maybe they should pool their resources. >> that would be the rational decision, but then you go to the emotional decision between the cities, the rivalry. let's face it, new york is 8 million people and boston has 600,000. but in brains, boston has surpassed new york for a long time. it has three times as many patent recipients, but new york is on the make now. >> getting down to the cost of things, comparing how much things cost in new york verses boston, i was interested to see it's not always cheaper in boston. >> it isn't, and you would think that. even on the economy, you can see that boston is slightly ahead of

new york in that way. a lot of those things factor into the range that new york has with 8 million people and also the range of kinds of jobs and commutes and other issues on there. but yeah, there is some surprising things there. >> you get less bang for your buck there. it cost double to rent an apartment in new york verses boston. new york is losing out, aren't they? >> they are, but for some people, especially young people, the appeal of new york, the kind of open all night. the vibrace of the city. some of the college kids stay in boston, but a lot can't resist that siren song, boston still

has a puritan past. >> in other words it's all worth it, neil, thank you for joining us. let's get another picture from the trading floors. brian is joining us, scott walkner is joining in. would you want chicago to throw it's hat into the ring as well? >> we already have groupon. we have finance, transportation, and the white sox, we don't need the yankees here. >> what is your read about the markets today, and there will be a decline when everyone comes back to work on monday? >> i think so, we had a sell off, there was a bad night in europe. we had a bad number this morning, unemployment. we could get a revision to last month, that didn't happen. more news that we have a global

slow down. you look at the price of oil, and imf, the world's global cheer leader, and they say they're turning down their growth estimates, so not good news and hopefully something will happen next week. >> progress is that europe is what it is, there's no big solution yet on the table there that people can wrap their arms around. it is what it is, the jobs report confirms the slow down here. when you look at at list ahead, earning season is right there in front of us. that will be tempid at best. >> that's awful. to be a fundamental investor, is there growth, market share, a patent or business model, that's

what you want to invest on. public policy trades are in and out, and you're guessing. that why we're having this economy and the slow grind in the stock market because of no confidence. you're not sure what is true and what isn't. >> i'm just noticing that we're off the lows right now, but i want to ask you, brian, despite all of the negative headlines, you can get bogged down, we're still up significantly for the s&p year to date, and one of the best performers in the developing world, do you think we can end higher by the end of the year. >> the president obama is up 7.25% so far. you don't know what variants are, take the sure thing, take

your money off the table, or do you roll the bones. i'm risking 7.5% for negative 20. that's a bad story. a lot of these stories are developing. it looks like the elections are going to come down to the wire, and china is slowing down. the world is interconnected and it's going to affect us. >> where we like it or not. thank you for joining us. convicted by google street view, a scary sign of the times. and stocks are flying high on this turbulent friday. we're back in two.

welcome back, we're just over an hour left in the trading day, a turbulent session for the dow. right now we're down 160 points. it's not exactly the lows of the day but not far from it. the biggest loser is hewlett-packard. check out the airline index, they're up slightly today. they're hitting a new 52-week high. united, delta, and southwest also posting gains on the session. here is a scary size of the times. the victim testified that a dog was chasing him on his bike, he fell off and got hurt. the defendant denied being