that's what conagra did yesterday.eback on their pinnacle business is reminding what dollar tree did earlier this year i bet conagra can deliver the same kind of turnaround. these guys are too seasoned to not get it right yeah, man, they got powerful popcorn. jordan in south dakota, jordan >> caller: hey, jim, thanks for taking my call. >> of course >> caller: i'm looking to buy archer daniels midland i'm looking at them because they have a good dividend >> yeah. >> caller: i wonder if you think since they don't have pricing power, that this could compress their margins. >> i think they don't have that, right. the margins will be under pressure and i think the company has been a serial underperformer for many years and i am just not, you know, look, do they have decent dividend, 3.4. i can get that from a lot of food companies i'd rather own conagra even though they do have -- some of their popcorn feels like a brick. brian in texas brian. >> caller: boo-yah, jim. >> boo-yah, brian. >> caller: wanted to get your though

conagra, even though it got a downgrade and started the day lower, is up 0.6% now. guy: let's get some insight on today's payroll number. it wasn't a headline level miss, but it kind of felt like pretty much what the market was looking for. with us is ira jersey. ira, did today's number change anything? ira: i don't think it changed much. like you mentioned, it was really a mixed bag. the number of hours worked, as well as hourly average earnings, was ok. when you look at what i call the paycheck of the economy, the some product of all of those -- the sum product of all of those things, it is higher than it was last month. not much, but maybe we are stabilizing here considering average wages were falling for the bulk of the year so far. vonnie: larry kudlow mentioned that in terms of wages, we are now 4% plus over the last three months. i'm wondering if that gives the fed a little more leeway to potentially cut more than 25 basis points at the next meeting if it decides to. ira: i don't think so because the fed is on track to cut 25. there is some possibility of a 5

higher profit at conagra? there was kb homes. they are up 2 percentage points. how about conagra? have you got it? we have a new graphic system. up 3.6%. okay. >>> let's get to the serious stuff. big news of the day. the whistleblower complaint about that infamous phone call with the president and the leader of ukraine, that report has been released. robert ray is with me right now. i don't know whether you have seen and gone through this report. what do you make of what you know so far? >> i think what i make of it is what andy mccarthy said to one of your colleagues already earlier this week, laura ingraham. once you have the transcript or the summary of the president's call, that dispenses with the need to deal any further with the whistleblower. there's nothing more that the whistleblower can add. the whistleblower's information was indirect and secondhand only. we now have the direct evidence. the president has released everything. we have the phone call. so what are democrats left to argue? nothing else other than oh, wait a second, are we sure that that's an accurate transc

right they report and suddenly like doing well, doing well, and then that's when you got to buy now conagra reports too. this is a real conundrum great management good brands, iffy results. i think they figured out what's wrong and can nail the quarter i really do. after the close we have the most controversial quarter of the week and it's micron the commodity semiconductor name several analysts bolted claiming its two key products are turning positive or use the term inflecking they always say inflecting but this stock had a remarkable run. unless they're seeing strong demand for both flash and d-rams i think the stock's gains will be rolled back especially if they mention anything about trade tensions in china. that would be the kiss of death. why is micron so important simple it makes the basic building blocks that go into almost every device you can imagine there could be huge and i'm talking about monster pin action off this one so you need to parse everything the company says and take positive commentary with a grape of salt. long knifes are out for the stock at this level. i detect i

conagra might help. but what is going to actually propel it? still going to be rotation to safeties? the our performer in europe are u.k. equities as brexit this function continues. have euro-dollar down 0.1%. the dollar continuing to climb higher. the dxy over 99. the spread in the u.s. continues to flatten. commodities not getting a real boost, so it feels like the equity rally is a bit of a fake out to what other asset classes be telling you. we will see why and how that is. the u.s. and japan reach a preliminary packed. president trump and prime ministers shinzo abe inked a limited trade deal, with the u.s. withdrawing the threat of auto tariffs for now. for a closer look at trade between the two countries is michael mckee. michael: good morning. it is important to know what this trade deal is and what it isn't. it is a mini deal that gives donald trump a little something to talk about in terms of trade. however, what he's really done is create a problem, canceled the problem, and then say he's done something great. here's what we mean. jap