what the chief of adp and d.a. office struggle to meet the daily needs that we have and the mandates that we have. and very little opportunity to do the additional work that we think would do so much in are for victims and offenders. by state law the district attorney's office and mandated to provide victim services. and we do that and have to do that in continuing state cuts. in each of the consecutive years, the state has cut the funding for the victim advocates and that's the cost that the city is picking up. we are forced to pay as a county than the state that paid for it. last year we served almost 6,000 victims, that's 16% increase from the year before. those 6,000 victims are seen by 12 advocates in our office, you can imagine the case loads. and of those 6,000, 90% are victims of violent crimes. these are people that have had the most unimaginable and horrific circumstances that cross their paths. we are the first point of contact of those victims. we see them in a day or two of the crime. they come to our

there are approximately 4800 people under adp supervision. conservatively thousands victims of crime, and that grows when you look at family and children of the victims. >> if you could go through those numbers. >> now we supervisor 540 clients under the domestic violence cases. and we supervisor 126 sex offenders. and in addition to that we have significant number of individuals that have been convicted of violent crimes. just on those pure numbers there is over 1,000 individuals that have violence-related crimes. and in addition to that is the children and the victims to the crimes. there are several thousands of individuals that have been impacted by crimes in san francisco. and typically a person is on probation for average of three years. and adp has the longest relationship with those that commit those violent acts. and in addition adp has an obligation to the court that a defendant of restitution is to provide for the victim impact statement. what that means on the front end of the process, we are the statutory agency that is obligated

adp was one of them. as the chief financial officer you must have a thought about this. >> it is a little bittersweet, but of course we made the decision for the spin off recognizing it would have an impact on our credit rating. we contemplated that. the rating agencies graded us as a aa. that is a fantastic rating. >> you will be taking that $700 million you get from the spinoff and what will you do with the money? >> i think two things. the rating agency is slightly smaller and slightly less diversified. that triggered the reason to give us the new rating. we will use the tax, the dividend dealer services is paying adp to repurchase shares and return the money to our shareholders. >> any change for jan siegmund? are you sticking with adp? >> i hope i am sticking with adp. >> i want to thank you very much. jan siegmund, chief financial officer of adp. coming up, the chicago cubs, raising cash to renovate their iconic home of wrigley field. we will speak to the executive advising on the sale. that is next

those are two our requests that dovetail in what adp is doing. we think it's challenging to take on this work and look forward to increased restitution to be collected on their behalf. >> do you have an estimate of how much restitution is not collected because of lack of resources? >> i think that the chief's numbers are accurate. on our part we provide that restitution be paid to the victim. what will make that more effective, is restitution of $400 to replace the window, and etc., and we don't have that and as we pass from adp they don't have the time to put in a specific order for the court to review and make a specific order. and the numbers that you received i have no reason to believe they are less than accurate. >> thank you very much, from the final presentation from the department of women. >> good morning, committee chair, president chiu, and supervisor tang. i am the director of the department of status of women. i am here to express our services, we oversee the city's investment of $4 million of services of women survivors of violence

we would welcome adp to have restitution members to help them collect. the ideas of trauma speak directly to two requests we made in this budget process for the d.a. office for our victim's services unit. i mentioned that 90% of our victims come to us as result of a violent crime. what we do in that process, is make referrals to other agencies that may offer them subsidized or deferred payment for mental health treatment or crisis counseling. most victims come to us in the worse moments of their lives. what we would like to have is a social worker in our victim services office, to offer to people 10 sessions. what we have learned that most don't take us on that. it becomes too difficult to meet an advocate and share your story, and we'll send you out, here's a list of people that can help you. it feels abrupt and most people don't appreciate the brush-off in that process. what we seek to is just have one, we don't feel that it cover the entire case load but will improve the services the victims get. and the second request is a housing specialist. the oth

watch the ten-year adp was roughly in line at 191.s led by the dax. the markets still looking to om higher desp

adp has a long history. they spun off its claims business, broker business so with this move finally a pure play on the human capital management business. the company can use the money from the spin-off to buy back stock in a boost that by as much as 7 cents. i think a leaner more focused spin-off post is worth $90 a share especially if interest rates go higher. interest rates are important to payroll processors because they sit on large amounts of money while they wait for clients and employees to cash paychecks. they collect interest. adp looks more attractive as a company that has become a pure play. i never understood the synergies of that other business. bye-bye. here's the bottom line, in all the turmoil we've seen lately, don't forget companies can take control of their own destiny and breaking up is often the best way to do it. hence why i like baxter, h & r block and adp on the recently announced break up news that was obscured. this bottle market always lets you in, so don't pay up for any of these

well, we just got the adp reports.s. right now, take a look at the dow futures down 16 points, nasdaq off five-and-a-half, s&p up less than one, "squawk box" will be right back. ll be right . there's a new way to buy a car. it's called truecar. and truecar users... save time and money. so when you're... ready to buy a car, make sure you... never overpay. visit truecar.com today. ♪ "first day of my life" by bright eyes ♪ you're not just looking for a house. you're looking for a place for your life to happen. anbe a name and not a number?tor scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience." . welcome back to "squawk box," we are a few seconds away from first quarter advanced gdp numbers. steve leisman is with

we got better than expected adp. adp was rightme is, i don't know when.f rosenberg, we are up -- we are up 35 points there, s&p up another quarter of a percentage point. if investors were really worried about this number, they would have eased off. not the case today. our investors seeing something that the gdp reports does not capture? investors are looking past the numbers and realizing this willfed under yellen that be pretty accommodative. what gives her support to be very accommodative and holding off in raising rates is the low inflation. the core pce came in at one percent year-over-year, the employment cost index is less than two percent. there is no wage inflation. with no wage inflation, that allows the fed to be very patient. and she's inflation, cutting by $10 billion a month. is she being overaggressive here? should we be keeping up, in light of the fact that we get nothing when it comes to inflation, mark? >> i think there's two decisions here. one is the overall size of the balance sheet. in that case, the consensus there is that the cost-b

durable goods and the adp report, as well.ewhere, yields are a little higher across the space in europe, as well. and on the currency markets, very much focused on the yen has hit ten-week lows against the dollar. we hit 103.93. currently trading at 103.78. increase in appetite. the euro/dollar, just below 1.39. 1.37 was the one-month low that we hit on friday. and the aussie/dollar, not far away from its four-month high easy. we had been up at 93.10 boosted by the tapers of chinese stimulus. how is all of this playing into what happens in asia today? sri is the the man with his finger on the pulse in singapore. sri. >> ross, let me just pick up on japan. we have the tankan survey. what that told us is that inflation still needs to get high higher before it gets to that 2% target that the boj aspires to. for more work to get the right type of inflation to get the economy going in the broader economy. now one mentioned the japanese yen. yes, at a ten-week low against the u.s. dollar. so that helped produce the broader market an

adp employment showed a private payrolls increased more than economists anticipated.ess claims. -- tomorrow we have jobless claims that on friday the big government report. a look at copper prices. they are climbing by more than 1%. chile is the world's biggest loser of metal. people are concerned about what the earthquake means for production of the metal. a couple of mining companies said their sites were not disturbed. we are "on the markets" again in 30 minutes. >> let's count down to the open with the top 10. number 10, goldman sachs. looking to sell their new york stock exchange market-making unit to a dutch firm. up to $30eeking million for it according to people familiar with the matter. , charged with 12 pipeline safety violations. a gas explosion destroyed more than 100 homes. they were charged with knowingly breaking federal safety rules. out: -- alcoa being called overvalued. they announced plans to spend millions to expand its mill. a japanese maker of smartphone chips -- apple may pay as much as $42 million for the unit. >> blackstone. the firm is in tal

adp officials say for many, the core issue is cost. >> certainly when you look at this population of under 30, they're at the beginning of their careers and their salaries would tend to be lower than other age group populations. >> reporter: big firms need healthy young employees to sign up for their plans to afterset the costs of older workers. to engage them they need to focus on affordable options and on benefits that matter to them, says youth policy advocate jan mishery. >> young people, mental health services, preventative care, the kind of services young people really need and value. >> reporter: we could see a shift in 2016 under aca. employers will be able to enroll workers automatically in benefit plans. also in 2016, steeper fines kick in under the individual mandate. jay lundeen has thought about just paying a fine next year, but he'll likely opt for coverage. >> i will buy it. but perhaps a little grudgingly. >> reporter: bertha coombs, "nightly business report," new york. >>> to read more about young millennials and how they're dealing with their health care issues go t

the adp numbers showed 191 thousand jobs added. the big jobs number is still to come on fridaywill it be a market mover? >>i don't think it's a market mover unless it's going to move the market down.i think the number will be okay. i wouldn't assume a big miss here. i think the number will probably be fine. but again, you're talking about such a miniscule number for what we really need to get better. let's say they come in with a print of 220we're still way short on jobs and still having the same issues. but a good number could spark the fed to say maybe we can raise interest a little bit sooner. but i think the markets are telling us right now that they don't expect a very good number because the expect the fed to stay fully in force. >>what about the dow theory that says when the dow jones transports and the industrial average both rally to new highs there's a bull trend. are you still a bear? >>i'm a bear but let my clarifywhen i say i'm a bear i'm not putting new money to work here and i've taken some stabs from the short side.

payroll firm adp says almost 200,000 private sector jobs were added to the economy in march. that's much better than the numbers we've seen over the past few months, and it comes just two days ahead of the labor department's critical employment report. also factory orders for february showing the biggest gain in seven months. that put investors in the buying mood. the dow rose 40 points ending just three points short of an all-time closing high. the nasdaq was up 8 and the s&p added 5 points. and it did close at a record close for the second day in a row. what does all this positive economic news mean for that friday jobs report? hampton pearson takes a look. >> new data on hiring in the private sector shows there could be a springtime recovery from what has been a brutal winter. while the addition of less than 200,000 private sector jobs in march was below forecast, there was a big upward revision in february data. nearly 40,000 more jobs added than previously reported. that's according to payroll processor adp. leading the way, construction hiring. up 20,000. the best move

, adp is private sector and government employment is shrinking.top line number around 200,000. decent number. not gangbuster but decent number. we think it will be solid. liz: what else could the fed do if anything? seems like the qe medicine has lost its efficacy? we had jon hilsenrath said last hour watch for reverse repos. is there something else that the fed might have, some other tool in its tool belt? >> as you know, they announced it today, they're gradually tapering their bond purchases but i would say it's a little premature at this point to seriously tighten. look what the fed's doing. it is gradually taking its foot off the accelerator. it hasn't applied the brakes yet. it is still early time in of applying the brakes. inflation is not a problem. it is well below the fed's 2% target. the economy is a little uneven. i think they shouldn't jump to rastic at this point. liz: when you look at the consumer, that is 2/3 of the economy and how the consumer behaves, what's your best guess about how we end the year, all of 2014? >> well i think

watch the ten-year adp was roughly in line at 191.ortgage apps down and the europe is led by the dax. the markets still looking to om higher despite private sector employment data coming in just short of expectations. the dow starting from its highest level of the year. >> it was the moment that stopped all trading here on the nyse floor and you saw it only on cnbc. the fiery debate over are the markets rigged. now boiling over into larger, more heated battles. >> general motors ceo mary barra back on the hill answering questions from the senate subcommittee and we'll bring you the highlights when it begins a little over an hour from now. >>> and amazon holding a big press event promising an update on the video business and we'll tell you what it could be and bring you all of that action live. >>> we'll start with an economic report from adp, shows 191,000 private sector jobs were added in march. the numbers coming ahead of friday's big jobs number and, of course, the morning after the s&p hit a new record high. we continue to look fo

15,000 is in line with the consensus, i don't see why that would change with the adp number.e are looking at aggregate income. what is going on with wages and hours worked. if those are up, the fed might be in play. >> ira and greg. joining us here in studio, thank you both. up next, we check back with julie hyman as we focus on the fed. "bottom line" continues in just a moment. ♪ >> welcome back, this is "bottom line." streaming on your tablet, your phone, and bloomberg.com. coming up on 26 minutes past the hour. bloomberg is on the markets. here is julie hyman. another check of the markets and how they are reacting post fed. >> or not reacting. little change in terms of where stocks are trading. i was looking at some notes that came out after the announcement. many repeated the same language, as expected, no surprises. as evidenced in what we are seeing in stock action. little change before and after the fed. if you look at what happened in the wake of the announcement some up andyou saw down action but that is a very % of arange of about .2 percent. if the treasury market,

adp says customers created 191,000 jobs in march, just shy of expectations, but february numbers revised sharply higher from what had been a disappointing gain of 139,000 jobs revised up to 178,000. the numbers are raising hopes for the labor department march jobs report due out on friday. be watching that very closely, but another sign of an economic fall, factory orders jumped 1.6% for the month of february. now we have wall street grappling with new fallout from the bombshell that claims the stock market is rigged. high-frequency trading firm delaying its ipo because of all the controversy surrounding michael lewis' book. charlie gasparino is reporting it has a lot to do with depending on what you're really looking for, what has to be reporting of news for the company. charlie has been working his sources. there is a revolt according to charlie on the bond side of the street, so stay tuned. first, our top story, gm damage control day two. mary barra undergoing any round of questioning under the watched recall, but her answers are very much the same. today the senators hold no punches.

treasury yields continuing high yesterday, adp coming in, 191,000 private sector. rerevised up the february number, as well. this ahead of the employment numbers tomorrow. ten-year treasury yields, 2.79% is where we stand at the moment. it had been up to 2.18% earlier. along with the currency markets, the yields continue to nudge higher -- sorry, a little bit lower. dollar/yen, just below 104. we hit a fresh ten-year high. euro/dollar, 1.3762. that's where we stand right now in europe. let's find out what's happened in asia today. sri is the man with the update in singapore. >> ross, thank you very much. the market has had a chance to digest what's happened. you can see the reaction from investors. unbalanced is fairley underwell manyings. hang seng, 0.2%. many people did see a positive effect in the market, especially in the railway stocks. the rail infrastructure we'll see is one of the biggest mini series of this package. so we saw a surge, but that surge quickly faded. overall, this mini stimulus package should start bleeding through and having a positive impac

joined now by the chief financial officer of adp. >> also a member of cnbc's cfo counsel.n't help but notice a little angst with the news of the downgrade. >> overall the news was well perceived. we know our investors appreciate the action and obviously in a tough day like this i think the stock has hold up relatively well. >> you are outperforming the tape, that's for sure. why spin out this unit which has been such a part of your profitability, your core, that a aflt a rating. why pursue this move? >> we pursue this transaction really after strategic assessment of our opportunities. we are excited about our core business, human capital management and payroll business of adp. we want to focus on it. the u.s. economy has been improving and we also have been executing very well. we are pleased with those results. the spin allows us to focus on our business and i think dealer services is an underappreciated asset of adp. the thin will allow really investors to discover what's an excellent company. >> if anything, that's been appreciated. that's why you have the aaa rating. t

this refers to private sector job creation, adp. up with a report every month right before the report and today 191,000 new jobs were added last month. that could be the setup for the solid jobs report come friday. charles, lot of people are saying maybe -- you are laughing. charles: we waited for solid jobs report for six years. you know the play around the corner, maybe we can open it back up. waiting for solid jobs report. adp some hopeful things. construction was intriguing. manufacturing, we made north of 200,000. we need now to jumpstart this economy. stuart: you are going to get a lot of spin saying it is an improvement. here we go. charles: they have done a great job establishing expectations. even with obamacare. where did that number come from? the white house. they get get to set the bar andn they hit the lowest quotations, they take the victory lap. i want them to say we expect 350 jobs everything a month, let's talk about something robust, something we can do. stuart: just a couple of points to make here. number one, fe

adp reporting 191,000 private sector jobs created in march.y say hopefully this shows more growth to come. the report is always a prelude to the closely watched government jobs report out on friday. chrysler now recalling 644,000 suvs in the us. it effects jeep grand cherokees and dodge duran goes from 2011 to 2014. corrosion may cause the brakes to be harder to use. it is being called the most toxic place in america, in oklahoma. it is the nation's largest super fund site and the first to be managed by a tribal government. >> reporter: from the highway they seem like any other hills some resemble natural wonders. these hills continue millions of pounds of toxic dust. the land for the american bullets of two world wars came from a mining boom town, but now only the street grid remains visible on what is able to survive on this polluted ground. even the water is orange. >> the high led, cadmium, and zinc content, you can't see that in the water, but the fact that it is orange means there are met nals the water. >> reporter: it is still a wastel

one small point i will make, i know the jobs numbers today were okay on adp. business investment long term what we call capx business investment has been lousy since this entire recession ended and that's what creates good paying jobs and it's not happening. the numbers today on factory orders showed it again. we are in lousy shape. >> what would change all that? >> that's a really important question. i will just give you one idea. they are profitable and got a lot of cash. we know that. why aren't they investing or hiring? i think they're worried about policies out of washington, d.c. i don't think it's the fed. i think it's taxes and regulations and obamacare and the epa and the national labor relations board -- >> we have been using those excuses for god knows how many years. at some point you got to say okay, i'm going to put washington aside and move forward. >> who has been using those excuses? who is we? don't throw me in that we. >> a lot of companies have been using the excuse -- >> lot of companies make excuses about everything. >> we don't know what

the adp private sector employment data had good revisions from previous days. durable goods also beat expectations. we may be on hold today as we await the key jobs figure. the official figure is expected to be $200,000 jobs created. the whisper number is 300,000 jobs created. >> amazon is taking a major step away from selling other company's products, kind of selling their own. explain this one. >> yeah. this is a settop box. for 99 bucks you will get an internet connected set top box that goes up against the likes of google, goes up against the likes of apple who are way ahead at the moment in terms of shipments. they will put video online, streamed video, plus their own catalog, plus you can buy a games controller. it's voila, a games controller, which you can connect. so there will be a gaming angle as well. they hope that will be a game change nr in what is a three-wa battle for your internet streamed tv. >> steve, thank you. >>> still ahead on "way too early," inside the presidential selfie. was it impromptu or promotional? details about why big papi took

adp private when they broke to pay two hundred and twenty jobs while the fourth quarter gdp to grow only by point nine percent mostly as a result of bad weather. all eyes will also be on the federal reserve meeting tomorrow although we're not expecting any major surprises for changes from the fed to frederick would continue to expect a reduction in the monthly asset purchase program to about forty five billion per month. this is the nissan was no more securities in new york then let's take another brief look at the market tickets in the eye. drought in the state of california is said to be the worst in a century farmers awarding the series impact on crops and the trouble with one harvest in particular could be felt around the world. nhk world money money on locke explains. i may be teaching in high demand. love of her death she is banging around one million tonne a year went to get a good eighty percent of the world. our gal goes on and on fifty thousand head to orchard they are. but that i need well go without whining. she looked like he hasn't had rain for two years lakes rivers and re

yesterday was an indication that the manufacturing sector is doing ok in united states i will see the adp employment report which showed that roughly in line gain of almost two hundred thousand net new jobs for the month of march. the jobs report comes at the end of this week in united states on friday morning with our under twenty four. our expectation is already a month over month tina hundred and ninety eight thousand in march. probably declining unemployment rate to six point six percent this is the first at least partial month of spring so we were past the worst of the us the lousy when it was exerting a drag on and on some of that day so of its armoury cyprus is probably higher because of improving the overall economy. i'm simply going with welles park here's an overview of some of the global markets . it is it is. and wounding the fisherman in a japan is to rally opposition to what he sees as a threat to humankind. he was exposed to radiation in march nineteen fifty four with the us and tested a nuclear bomb in the marshall islands. now he spends his time campaigning to get rid of

adp doesn't really predict jobs. >> one of the last time adp got it right? >> maybe we are in the expansion stage of the market signaling something broader and a bigger shift in the jobs market. terms of howtle in that translated to investors today. it was not like green lights flashing. >> they want more of a confirmation on friday. stocks doing well like they did on friday. economically sensitive groups leading the gains. >> let's move onto the roundup, the stories we are talking about before tomorrow's opening. olivia sterns is here with us as well. alix steel is kicking it off. >> you've heard all about the new michael lewis book. it's a top-selling book on amazon today. it pains the tortured of markets withd by insiders computers for high-frequency trading. not the best timing for the high-frequency trading company virtu. they had planned to start the ipo process but delayed endet offering until the of april. don't worry. you are not the bad guy here. if the system. i don't regard high-frequency traders as villains. i really don't. it's like blaming the

we are waiting on the adp numbers from the u.s.owill be a glimpse potential for the unemployment numbers in the u.s. on friday. adp is expected to show a rise of about 190,000. 1881, just popping higher again erie it -- again. today, itf the news just turned on its own. copper, oil look at and some of the cars as well. you have the copper producer antofagasta up. >> thank you very much indeed. up next, we are going to check out wearable tech that gives you superhuman strength. ♪ >> welcome back to "the pulse." we are live from bloomberg's headquarters in london. forecasts show that japan's inflation rate will be 1.5% in one year and rise to 1.7% in three years. that is a courting -- that is according to a survey released today. successings show abe's in instant inflation succession. jpmorgan blocks a payment from the russian embassy to an insurance company. they said it was under the pretext of u.s. sanctions against russia. jpmorgan is seeking guidance government about processing future transactions. said it still does to fixw why

adp and women change ahead of the jobs report on friday.agement -- this would be market moving data. 1.2% of the bloomberg survey. we jump in the second quarter and do a lot better. i don't know where anybody is for the third quarter. >> it is hard to quantify. i was looking at the forecast yesterday for the economist track on bloomberg. all over the map. for ducks-kings. >> rangers all the way. we have much more coming up on bloomberg television this morning. the twitter ceo will be live on "market makers." the stock is trading down 11% after membership growth slowdown. a bloomberg surveillance continues. in the loop is next. ♪ >> we are live. i am betty liu. nancy, the creator of... to a, where she is looking for the next day and. interview with charts andding the brain faster internet speed for its customers. a major investment in broadband that will hit telecom and google right where it hurts. and the clippers can't jersey and why jesse jackson says -- the lat made news on the court last night. maybe the warriors on game five of the pla

the adp number yesterday, services above the level. people are buying cars. how much of this good news is already priced in to the markets? it depends what evidence you want to look at. bmw, toys r us a bit slow to hire people. financial services under pressure. it is recovering. it is nice. it is good news. to that extent, fantastic. we are on the way, during the great recession, the u.s. jobs number retracted by about 9 billion people. we have recovered all of that bar about 66,000. can it be delivered today? yellen uses this dashboard of data. this is one piece of the puzzle. >> the data is very important because there are five elements read the unemployment rate, they are so passÉ. unemploymentnew rate. there is a great debate amongst the economic community. -- ishe dashboard confirm it a reliable evidence measure of how much slack there is in the markets? looking through these numbers, two thirds of what janet yellen , twoer board look at thirds of the dashboard is worse than when the recession began. big pieces,o payrolls growth and layoffs, which are b

we'll talk about what the number may be after adp and ism services today.ice bump although that's proven to be a head fake in the past. >> some people say this isn't a head fake but you can't predict it. >>> meantime, keep your eye on the momentum names we come back and discuss day after day after day. workday is a great example. as is pandora. big gap open this morning. nice ride for the first hour of trading. starting to give a lot back. not entirely. not every single name. some of the 3d printing names, jon, are hanging in there. as we mentioned earlier, amazon would be a low for the year off 15% since the beginning of january 1st. >> open table is hanging in there nicely, still up almost 3%. king, you know, not crushed by that rough open on ipo day. it's at around 19 1/2. still up a little bit for the day. but, yeah, a lot of those opened strong, workday, viva, palo alto networks not fairing so well. >> you got a downgrade of citi and the news that the federal authorities have opened a criminal probe as to what happened in that mexican unit. you're seei

helping the markets are the better than estimated factory orders and solid adp employment reports documentingte payrolls in march. one mover is facebook, whatsapp has a new record of 64 billion messages in the last way for hours. back in 30 minutes. ♪ >> this is "lunch money" on bloomberg television. also streaming live on bloomberg.com, your tablet, and your smartphone. i am adam johnson. today's moving pictures -- the video is the story. and 8.2 magnitude earthquake in chile forced the evacuation of cities and towns on the northern coast, left six people dead and triggered a tsunami warning in areas as far away as hawaii. chile's president has ordered the military to help maintain order and hardest hit areas. a barricade erected by venezuela's antigovernment protesters has been blamed for deaths. the obstacle is to keep government forces out, but their usefulness is being questioned. the president says they just cause hours of long traffic jams. a&e corp. has been hit with criminal charge tied to its 2010 natural gas explosion. the blast tore through a neighborhood in the san francisco bay

better than expected job creation from adp. we will see things improve, probably a strong jobs report. will starte economy expanding again. >> i was listening to you guys this morning i'm as i always do. tom and john riding talking about whether or not the possibility that we could eventually get a press conference after every meeting. >> talking about that a lot. a number was like to do that because they feel it takes their weaponry away. if they wanted to move, it would be very difficult. that is something likely coming down the road. >> we do not get new dots today. known new quarterly projections. that will make people really unhappy. >> no new orderly projections. lex do investors pay as much attention to each eta points as they might a year ago? important in their every decision? >> no. when the data comes out, it is a roulette wheel. traders betting on where the number lands. longer-term, no. you may see movement on friday morning, the long-term will take time to develop. you will see that more in the bond and currency m

adp spinning off its dealer services business. a tax-free spin-off. 100% to adp shareholders.dp is known as one of those names, jim, with the best credit rating you can possibly get. i wonder if this changes that. >> this is just great news. people want pure place. i want both of these divisions. the dealer services business has always been terrific. i remember when they used to be in the quotron business. by the way, dealer, dealer service. anything related to auto service finance. allied becomes public today. all these businesses i think are good businesses. automatic data is going to go much higher. >> allied, the auto lender is going public today. ipo price is at 25. that was the low end of the range. raising $2.4 billion. this is going to be the biggest ipo in the u.s. so far this year. all the shares coming from treasury. it's going to trade under the ticker symbol ally. we're going to bring you the company's first trade, live interview with the ceo michael carpenter later on this morning. you said yesterday the window was closing. i wondered whether that was a function

minutes later another tips car this one year augmon avenue appeared on 130 on the other side of to adp other foot spark are and one light on this morning. north of the park near prospect and cost and revenue. activity is certainly not unique to san fransico. the of the smart car been tipped over in vancouver. during some rights there. 2011. it's about five guys team up to to that car. and in case you're wondering how heavy a caught our car is relative to medi-cal. it's about 300 lbs. heavier. and it seems to think how to be maybe a roll legend as we note to our car to think is absolutely an urban reality. new at a concord family who lost a father and youngest daughter and a tragic accident has not hired an attorney and accident happened in april to 2012. won a 70 year-old dayton resident was driving. he lost control of up the sidewalk and hit and killed a man used just saw there in the final period and his nine year-old father and daughter. two years later the family has filed a civil lawsuit against david rosen and his family. it's night with a down with the eternity and shows us what

we will have the adp number which i think is more important.mi and the friday jobs report become very important. >> talk to me a little bit about &a in europe.t m there is deal after deal. we have got pharma deals, industrial deals. is this the beginning of a bigger cycle? m&a cycle iss, the catching up. the pharma sector is focused as we have seen. has a very good run and you see a correction. you are talking about pharma comingstocks which are into new age drugs. people who suffered from leukemia a few years back had a survival rate of one third. now it is 90%. you are talking about new age .rugs you will see a lot of these things happening. manager,investment maybe you have some exposure to glaxo, whatever. do you begin to eat say to yourself, if i haven't got exposure in these other names, i should begin to add that into the portfolio? >> we have investments in novartis. a balance between biotech and old name for a companies. that is how i manage portfolios. m&a in europe is also going to catch up. you are going to see not very strong gdp g

adp. that is private payroll in the u.s. european equity markets are opening. we keep an eye on the main market. we will get u.k. manufacturing data as well. let's have a look at some of the mining companies. we had this magnitude 8.2 earthquake off the coast of chile. very little impact. this market is being driven by the growth story, whether there is more stimulus to come from china. out of the europe is doldrums. we are also seeing a move here. a couple of backdrop issues. you have south africa going on strike again. you have the chile earthquake. cut the iron ore to $118. let's have a look at commodities. we had copper trading at a three-week high. aboutt often talk soybeans. after the third day, a 10 month high because stockpiles are at the lowest in 10 months. copper is up up third of one percent. we had that earthquake off the coast of chile. are expected to rise. youe have the cardboard for ? bmw sales up eight percent. bmw, the owner of porsche, and mercedes numbers are up. the highest first quarter on record. >> thank you so much. joining us for more

driving today's gains, an adp report that private employers added 191,000 jobs and march. and reviseed higher jobs numbers from previous months, crude oil closing down, and gold up more than $10. posting a rare gain of latest. amazon, unveiled fire tv, $99 internet video streaming box to compete with apple tv, google, chrome cast and. >> chrysler today, today steping up recalling 900 thousand dodge durangos and jeep grand cherokees because of correction that may - makerrosion that maye breaks difficult to use. >> new gm ceo on capitol hill apologizeing again. and old gm thinks that new gm is not doing too well. he is next. thit's not the "limit yoursh hard earned cash back" card . it's not the "confused by rotating categories" card. it's the no-category-gaming, no-look-passing, clear-the-lane-i'm- going-up-strong, backboard-breaking, cash back card. this is the quicksilver cash back card from capital one. unlimited 1.5% cash back on every purchase, every single day. i'll ask again... what's in your wallet? [ chainsaw buzzing ] humans. sometimes, life trips us up. sometimes

stocks getting a boost from the adp report. it was almost 200. the dow gained 40 points to finish at 16573. just a few points shy of a record close and the nasdaq gained 8 points. there will be more economic data as there always is. you have confirmed it thursday, andrew? >> thursday. >> jobless claims coming up today. and trade deficit numbers at 8:30 a.m. eastern. it does kind of all -- when you get up at 4:00, it seems like -- you know, i get up and i'm going bed again. the alarm is off again and i'm not sure what day it is. >> not only do i not remember what day it is, i don't remember what everything is nor. i used to be able to remember, if it was a pink page, it was the financial times. if it was written in the certain times, it was "the wall street journal." i don't know what i read from where. >> all i know is tuesdays because that's when the -- >> andrew's column comes out in the "new york times." >> thank you. >> you just realized the it this the way, too. >> you write a column for the "new york times," right? i was looking at ordering