>> hi, everyone. welcome to on the money. what will september bring for stocks? getting to apple before? and is your personal information safe in the cloud? how you can grade a meal by an aspiring chef with big restaurant dreams. >> he's not allowed to. >> and kids and money. the five biggest mistakes parents make when they talk finance with their children. on the money starts right now. >> this is america's number one financial news program, on the money. now becky quick. >> here's a look at what's

making news. a disappointing employment report. the economy creating just 142,000 jobs. it was the smallest increase since last december. average hourly earnings increased by 0.2%. the s&p 500 touching a record on thursday but losing it later in the day. the nasdaq once again hit a new 14 year high and the dow si sticking around the 17 thousand mark. >> a big announcement, the ecb unexpectedly lowering interest rates. but falling short of what they would consider quantitative easying. back in the united states, august auto sales hit an eight year high. gm sales fell by 1%, chrysler rising by 20% and toyota up by

6.3%. and to help power all of the strong auto sales, triple a says that the cost of gasoline will continue to fall by as much as 20 cents a gallon. refineries are producing more less expensive fuel right now. >> the markets continue to hit new highs. the european central bank has a big surprise and oh yeah, the jobs report. does it all add up to a september to remember? joining us now, mike santoli and christine short. thank you both for being here today. >> of course. >> let's talk a little bit about the jobs report. that was a bit of a shocker. weaker than anybody expected and the first time we have seen under 200 in quite a while. is this number for real? >> i think it's for real. people talk about how august is a noisy report but i do think it's a modest disappointment if nothing else. the unemployment rate going down for what we call the wrong

reasons. i think it's not necessarily changing the full story of a healing labor market but definitely a deceleration. i don't think the markets really took it as a change of course, really, in terms of the economy but definitely something to keep watch on. >> what do you think, christine? >> the jobs number is the number is the number one most important when it comes to the market. to see 142, disappointment, but august typically does get revised. the one month out of the year that really does get revised so we are expecting an upward revision in the next month. i think the overall feeling is this was sbomewhat of an anomal. >> here is what shocked me. the knee jerk reaction was that futures traded higher as that number hit. we had gone from looking at the dow futures down about 40 points

or something to actually trading positive at one point. that was just in the few minutes after the report was released. is the market happy because they think the fed is going to be longer off? bad news is good news? >> i think the investors' muscle memory is exactly that. if we were afraid of the fed having to draw forward, i do think that was the first reflex. and i also -- the bond market, i think really was up for a test here. there was a very strong number. i think a lot of people thought the bond yields would shoot higher. >> at least to two and a half. >> and obviously they didn't. but on the other hand you didn't have a huge rally, either. i do think that was the reflex but i don't know if that's going to be the way that the market plays this. >> we had a big surprise with the ecb. we knew it was a potential for it but most people were

expecting that it would happen later. but that's basically what this is. >> right and like you said it wasn't that it was a big surprise, it was just the timing of it. we were not expecting october november after the stress tests came out. he is being proactive. he realizes that europe has lost some of the momentum. germany is certainly suffering. a lot of that has to do with russia and ukraine. i see this quite positive for the european economy. how they will react. this is quantitative easing. it worked very well in the u.s. how europe will react to this. whether there is demand from consumers. it is yet to be seen, however i think this could be a positive move. >> the euro was immediately under pressure, actually falling below 130 within a day or so. >> sure. >> that actually really was the

immediate impact of the announcement was in fact the currency markets very strong against the euro and arguably that might be the goal, have it be export led and that becomes the stimulus as opposed to, you know, what exactly the central bank is doing in a tangible way. >> your company just raised its target to 2,000 and 200. what's behind that move? what makes you so positive? >> i think the underlying fundamentals. i follow earnings very closely and what we have seen in the last quarter, up 10.3% was the highest move we have seen in three years. the balance looks quite strong. looking ahead to 2015, we are expecting all double digit profit growth. to see top line growth really increasing, companies are finally growing and not just cutting their way to the bottom line growth. >> that is the bull case. do you buy it?

>> if that comes through then it's very, very hard to get negative on the market. what we have seen really in the last two years is the market was up element 50% from late 2012 almost all of that coming in just the price earnings multiple. basically investors paying more for each dollar of earnings. if the top and bottom line start to reaccelerate a little bit that make s more support. >> mike, christine, thank you both for joining us today. up next we are on the money. does hacking take a bite out of apple? one of the world's most valuable companies has to keep you safe and keep you wanting their products. can they do both? >> and later, the start up supper club using data to figure out what you will want the next time you eat out. >> and as we head to a break, take a look at how the stock market ended the week.

>> hackers access the personal information from the iphones of more than 100 celebrities this week, prompting concerns over the security of icloud's storage server. what does it all mean for one of the world's most valuable companies. thanks for coming out today. this was a confusing story. these are names we know. these are naked photos and we all think oh my gosh, could this happen to us, too? what did happen? >> we don't know all the details. what essentially happens in this case. they get a little information about them. they might have learned somehow

they used that and some computer programs to basically catch her password. download back ups. that's why she thought that photos that had been deleted turned out not to be because they were taken from old back ups. >> apple has said that icloud is safe and don't worry about it but it is also making changes. >> there were two things that were equally true. you don't want to blame the victim but the fact is it's helpful when consumers and all of us, not just celebrities but all of us are mindful of passwords, mindful of attempts to get your passwords. so you want. don't give the attackers anything easy to work with. at the same time apple didn't promote certain things.

i didn't know that they had enabled it. >> cloud computer has been fantastic. it has been a way to store so much more information. all the time you always have a back-up of it. that's the convenience of it. also for major companies who are storing information on the cloud. it raises the question of how safe that information is. there is two different kinds of clouds that we will be talking about. when a large company say ge, they just did a big contract with fox. fox and drop box and companies like that, they have made a big, big progress, a lot of progress in promoting security. they have a market incentive to do so. consumer clouds, a lot of it has to do with how much trouble you go to to protect your account. the reason these accounts were hacked is the attackers were able to get a shot at the

account. but, it's a completely different -- the. nothing is perfect. it never is. but it is -- generally speaking as long as. >> we are expecting another announcement from apple this week. >> we will hear about new phones. we know about that. probably two different sizes of phones. screen size has been a long complaint that consumers have had. that's why some of the sam sung devices have proven to be popular. we will see a wearable device. probably a watch. >> you think we will? that's cool. >> i think we will. we will see some new features. these are two software capabilities that apple is adding to the new ios. home kit will let you do things like unlock your door. turn on and off the heat. a lot of home control things. and health kit will be for monitoring your pulse and your

health data and things like that. we will talk a lot about privacy and security of these things because they will be necessarily linked to the cloud but i think we will have intelligent conversations about that. >> eric, thank you so much. up next, we are "on the money," the supper club that connects risie ining chefs to patrons. >> and what could be harder to

>> ever wish that the cook at your favorite restaurant had to take your advice? members of dinner lab get that privilege and a five course meal across the country. can connecting young chefs, diners, and cards change the

business model? data, it's what's for dinner in start up nation. it's a member's only start up. dinner parties driven by data. >> the restaurant base does not utilize data or information at all. it is one that is usually fraught with ego and intuition. >> we do pop-up dinners. >> it's a compilation of what 150 consumers think over the course of the night. >> we have a golden coconut curry. >> if it is something that i dra grave i will give it a five. >> third course is a play on broccoli beef. the main course is a whole roasted trout. >> what did you put on that one? >> it's like a focus group. >> these are people who are the

number two, three and four at major restaurants. people who have technical proficiency but have not been given the opportunity. we are getting the information so we can match a creative vision with what is commercially viable. >> it allows us to think beyond the box, and think beyond a restaurant setting. >> most of the time the electric studios is a photo video studio. >> we didn't think we would be outside on the streets. when you go to a regular restaurant you're not talking to the people next to you. here there is magic that gets created. you kind of break the rules. >> it is experimental attitude. >> we were just guessing about bones. >> i said wow, that's a whole fish. >> eyeballs, tail and all. >> greatest place ever.

whole fish, how he got the bones out? i don't know. he's a magician. >> he's not allowed to, but he gave it a six. >> brian is the ceo and co-founder of dinner labs. >> thanks for having me. >> we know that the restaurant business is historically a very tough business. what makes it such a tough business and why do you think you can change the equation with data like this. >> i think it is predicated on having a vision and imp limleme right off of the bat. what we want to do is really take the idea of this is what's really creative and this is what is viable in the market. >> that makes sense. treating it like a real business instead of like an artistic adventure. >> when you look at other industries like the early days of airlines or flight, people used to say if you're going to be a pilot, one or two of you are not coming back.

and i was like what? why is that the case? and then radar was invented and it made a lot more sense. we run into obstacles. people will say this is a creative endeavour and getting feed back has no place. >> they pay an annual fee and then pay for each of the events along the way. how do you keep up with the growth? how are you grown? >> it has been challenging in the sense that we're looking for talented people who are comfortable in a chaotic environment. we hope to establish the largest culinary network in the world and a platform for many to get out. that has been really challenging for us to do. we can share our chefs across the country so every city that we add is a new network and a new batch of chefs and people to share ideas with. >> it sounds like you have been tinkering with the model.

>> for sure. we have definitely uncovered things along the way. two years ago i didn't think we would be sitting on one of the largest culinary networks in the world. >> congratulations. i love the whole idea. thanks for coming in. >> we got to get you out to dinner sometime. >> that sounds great. >> up next, a look at the news for the week ahead. and how to talk to your children about money. the biggest mistakes you are making in teaching them the value of a dollar.

to prove a point about internet speeds, we slowed down an up escalator. this is crazy i don't get it, this one is working ladies, shouldn't up be as fast as down? yeah. shouldn't internet speeds match as well? yes. do your socks match? my socks match. do your eyeballs match? yes. cable does not match the speeds. makes you want to go mad. erggggh. only verizon fios comes with speedmatch - upload speeds as fast as your download speeds join now at fiosspeedmatch.com verizon.

>> for more on our show and our guests, you can go to our website. and you can follow us on twitter @onthemoney. >> on monday, alibaba is meeting with investors ahead of its $20 billion initial public offering. >> on tuesday, mcdonald's will post sales. start ups like kick starter, four square and more are planning to let their websites go flow and protest some companies offered faster service. >> thursday is the 13th anniversary of the september 11th attacks on the world trade center.

friday, retail sales for the month of august are due out. >> hoping to teach your kids about the value of the dollar? beth is the author of the "new york times" best selling book get a financial life. she found there are common mistakes parents made when trying to teach her kids about money. >> it's great to be here. >> you have actually said it's tougher to teach your kids about money than sex? >> sex or drugs or alcohol. and that's a problem. we now know the number one influence on a child when it comes to their financial behaviors is their parents. >> why is it so difficult? >> i think part of it is that parents are afraid they don't know enough to talk to their kids. they don't feel educated enough. we are afraid to reveal our own money foibles to our children. >> admit that we're not perfect. what are the top mistakes that we make as parents. >> the first thing we do is we don't talk early enough about

money. i know you have a 3-year-old. research shows that young children as young as 3 can understand basic concepts with money. i have to wait a few weeks and add up my pennies or quarters or dollars to buy something i want. they can get that as young as three years old. or making choices. i have a dollar. do i want to buy one mango or two apples. by age 7, kids' money attitudes are pretty much set. so you really want to start talking. >> when i was growing up my parents paid us an allowance. should you do that? >> i am writing a book called make your kid a money genius even if you're not. the research on allowance is all over the board. there is no right answer but it's wrong to give your kids allowance for basic chores. you want your kid to realize that's part of family responsibility. >> what about planning for

college? how can opening a college fund actually help? >> well, it's interesting. because studies have also shown now and this is getting more and more attention that if you open a savings account earmarked for college in your child's name and you tell your child about it, that child is much more likely to go to college. >> because they know it's the plan. >> it's the expectation. and you know they're going to go to college so they know that they're going to go to college. talking about college costs early is really a smart idea because you can figure out then what colleges give more financial aid and not fall into the situation where your kid gets into their dream college and then say oh, sorry, we don't have the money. >> thank you for your time today. appreciate it. >> that is the show for today. thank you so much for joining me. next week, where to lay your hat and put up your feet.

we will look at the top places to retire. we're on the money. have a great one and i will see you next weekend.

police respond to a deadly shooting and make a surprise discovery. dozens marijuana plants. we'll update you on their investigation. we are drying out is this morning after severe weather passed through the region. here's a live look at boat house row. get ready for pleasant conditions to wrap up this weekend. good morning. this is nbc 10 news today. i'm rosemary connors. it's 5:30 on this sunday. ted florendo is tracking the the cool down thanks to storms last night. >> that's right rosemary. we have a cold front to thank for that. now in its wake we have cooler and drier weather out.