boat load of economic data, the ten-year was spooked, jobless claims at a seven-year low, cpi in line,

we now have economic data, great economic data validating why this is happening. real people knew it already. this is why i love being a pollster. conventional wisdom is about 95% wrong plus or minus five percent, and beltway conventional wisdom is 100% wrong. so people are there. experience tells them this. people believe overwhelmingly that inequality is a big problem. and frankly, people think they are and that problem, too. they do not think they have to look for somebody vulnerable. they do not have to look past the kitchen table to find somebody vulnerable. we are all in it together. as carol moseley braun said, whether you came over on the mayflower, a cruise ship, or a slave ship, we are all on the same boat now. that is how americans feel. people are not supposed to want to have a role for government. when we use the dreaded g-word we also use the dreaded f-word sometimes, federal government. some people said, this is so bad, we have to have a role for federal government. how can you find a corporation that requires you to train your replacement of a broa

. >>> and stocks edged mostly lower today, but not by much after a mixed round of earnings and economic datancluding the spike in. >> jobless claims we mentioned a moment ago, but after bad weather consumer spending surged in march, the highest rate in four years, also percentage incomes rose a half of a percentage point and manufacturing was higher for the third month in a row. the dow fell 22, the >4eátj up nearly 13, the s&p 500 sort of splitting the difference, lower by a fraction. >>> two of the nation's biggest oil company's earnings reports both topped estimates. profits at exxon mobil declined due to declining costs for refining and a drop in reduction, different story at conoco-philips, a boost in production even at operations in libya, shares were higher by a percentage point today. >>> and telecom giant at&t approaching directtv about combining forces in a deal that could really shake up how you watch television, shares of at&t were up a fraction lower, but directtv shares shot up 4%. morgan brennan has more now on the proposed deal and how it could change the entire pay tv landsc

no economic data to speak of in the u.s.. earnings will be slim pickings. this will be after the bell. ben bernanke speaking in dallas. >> i agree. not a minor deal. >> especially since he was more positive on the economy rack in january when he left. more overt like greenspan or pullback in the reticent? >> we will find out. , the recently ousted new york times editor will address graduates at wake forrest college. >> every reason to cancel. i do not know anything about the story. every reason to cancel. >> she is looking for a job, too. self branding here. like i am sure every agent told her to cancel. we cannot cancel the data check. really interesting over the weekend. futures negative eight. euro-dollar does nothing. hydrocarbons a bit elevated. the vix, good market. the yen valleys. make it to 100 on yen. stronger japanese yen. there is the indian rupee up. indonesian moment there. going to the indonesian rupee. weakness. india nine percent inflation. there is the enthusiasm. >> a long track record of weakness. a huge deal. speaking today. going on.at

well, the ukraine, that's one thing, bad economic data, your marginal economic data, especially with job participation. those could be the crash. the bottom hasn't fallen out here, i think the market is sending us mixed messages. >> some traders would say what we saw it was a short recovery going into the week. >> here's the thing, something doesn't pass the last test. we have stock and the s&p him we have a fed that's tapering. we have a so-called goldilocks job growth. either within of two things, we have more disinflation coming out of china or the geopolitics is about to get a lot worse >> i think what bonds are saying not so much fear as confusion. then you have a four-day weekend. we know they like to buy bonds in front of big four-day weekend. when there is stuff going on they don't control that is geopolitical, they do want to buy some bonds, i don't think it's fear. i think it's confusion. short-term vick got crushed today t. russell 2,000 which led the way down was the only major index a little higher today. i think people are throwing up their hands a bit. they don't want

that fall partly due to weak economic data. and partly because of declining yields in the bond market with ten-year treasuries paying less than 2.5%. that spooked stocks with concerns that bonds were signalling the economy is weaker than many thought. disappointing sales. rising .1%. economists had expected a .4% increase. the numbers always closely watched because consumers make up nearly 70% of the u.s. economy. >>> earnings season is winding down. tech giant cisco beat expectations as did macy's, kohl's, and the world's largest retailer, wal-mart, which fell a bit short. if you don't have a lot of cash in your wallet these days, you're not alone. according to a new report by bank rate.com, one in ten americans no longer carry paper money. nearly 80% have less than $50 on them, and half carry $20 or less. that cashless society we've been hearing so much about may not be too far away. >>> it's been a confoozing week for stocks and investors. first a record on the dow and the s&p 50000 followed by a big sell-off and what appear

economic data is coming out mixed. we get back and forth swing the we have gains, we have losses because we're starting to rotate back into more fundamental analysis. certainly in the absence of news, there is plenty of bad news around, in absence of news the thing seems to grind higher or stay steady. cheryl: tom, we got fairly negative news out of chinese manufacturing sector this morning and europe as well has been a little rough, even ukraine aside, the economic data from europe was rough but u.s. manufacturing kind of brought the markets back today. is that something we can hang our hats on past today? >> absolutely. i think it is risk off right now. a lot of money is coming out of the market. i think there are three areas to really concentrate on, energy, utilities and consumer staples. these are three sectors during the summer and fall months and supposed to sell in may and go away, you could buy in may and do quite well. cheryl: that phrase really doesn't hold water anymore. if you look at numbers and data, tom

economic data on housing starts and consumer confidence.now you're talking about that earlier on. take a look at jcpenney. it is soaring. the department store chain is billionmore than $2.5 in losses over the last three years. a provider of computer services hired morgan stanley to seek out strategic options. usually that will include a sale. amazon and google cut prices on competing products at a faster pace than they had anticipated. we will be on the markets once again in 30 minutes. we will also have our weekly etf update, a look at the greatest and latest in that space. e" aftermore "bottom line the break. ♪ >> welcome back to the second half-hour of "bottom line" on bloomberg television. i'm mark crumpton in new york. thanks for staying with us. evacuation orders have been lifted in an area near the everal wildfires in southern california. crews the containment lines and hope that cooler temperatures will help them make progress. a flareup in a san diego server prompted over 18,000 new evacuation notices -- san diego suburb prompted o

of important economic data coming out the next two weeks.ustifiable? i think it will give us a good hint whether or not it is. liz: a week from now when the good stuff comes out dan says. >> right. liz: job numbers. bunch of other things. have a lovely weekend. >> happy memorial day. david: u.s. third quarter earnings are trailing analyst estimates by the widest margin in 13 years following disappointing reports from big-name changes this week. are this quarter's numbers a sign of sector is still suffering and are worst times coming? we'll have a man who has been a leader in the retail industry for many years. liz: what is more important, chains came out with weak and undecisive numbers there are names doing very nicely in this world. we'll look at that. tiffany seemed to be doing quite well the other day. that has been one of the chief price points. let's bring in steve odland, former office depot chair and ceo. former autozone chairman and ceo and president. we thought what better person to bring in to give us a real deal assessment coming

economic data is not the only thing moving up the markets. look at the other big influence. he joins us now. as it turns out china may be having a much bigger impact on u.s. companies and you realize. time for a little insight and action. let's get the headlines over the past ever base or week or so that we have heard from companies. pepsi, china sales up double-digit. the u.s. declines. meanwhile, gm china sales rival u.s. sales and apple computer, we learned in their earnings report about two weeks ago, china sales are up 13% and natural that huge earnings beat that sent apple shares up about eight percent in the after hours that day. we spoke earlier today with martin sirrah, the man who founded the largest ad agency in the world. here is what he told us. look at to china for a lot of the technological developments. 73% of smartphone applications -- you can sell into china and can also back door your way into china. that is his point. what we decided to do was take all of this under consideration in figure out how to we quantify china expo

toically what we are going see is a few important economic data pieces coming out over the next couplef weeks. hopefully it is a little bit more sign of recovery. they are getting a little restless. >> it is the clash of the titans last week. , best performing hedge funds manager of 2013. you have to listen to what he says. your point is the same, keep money out of equities and put it into cash until the economy shows a little sign of growth and then get back long. >> we are back to the economy. we are away from the idea of the fed propping up the market. people are back looking at fundamentals. >> i would agree with that. we have a lot of affluence he coming out this week and economic data coming out that tol go a long way positioning investors to where they want to go. >> this money that is coming out, is it to be tell investors or institutions concerned? institutions tend to take a longer-term approach. they may go 12 months plus. it is really the retail investors that are playing the fast money game, pulling out and going back in, depending on how the market is doing. -- whyinstitu

we've had mixed economic data. earnings are now over. now we have -- be hostage to the headlines of the fed and the ec. we've had cash on hand ahead of earnings, putting it into the weakness. it's been quality names like a 3m or cigna or costco. we have facebook and google, but it's time for more of a balance in the near term. >> jim, is it time to be nervous? >> i don't think so. i think one thing stephanie said -- well, several of them are correct. but the short-term economic data has been lousy this week. retail sales and industrial production. and the problem is, next week there's no economic data, earnings season is over. so the trend is probably just going to continue, which is downward. but we agree with stephanie that there are pockets of value out there. we're not going to catch any falling knives, but old-line tech, basic materials, energy stocks, and retail have a lot of value. >> ten year was a big talk, murph, yesterday, out in vegas. at salt. as it dipped below 2.5%, the lowest level in about seven months. it's back above t

we get into four days a big economic data.ue to advance as we get your 1900. 10 year yield turns here. 2.65 versus where we were. news of the bundesbank and nymex 70 as well.1.2 we're going to know a lot more about the american economy friday at noon. the euro is really taking a dive in the last hour on that. coming up on surveillance, here's a number that put things into context. 19%. that is a percent drop of the number in new york finance jobs since 2007, before the crisis. we will talk about why als are rejecting banks. ♪ >> i'm tom keene. he looks for value. thinking bernard farouk from ages ago. the management is out. it to the guy out the door over online and the charge card tobacco. it just about target or was it about the whole retail sector? >> it was just about target. we saw this as an opportunity. everyone is talking about the credit breech. everything is a went to canada and it has been a disaster. we think they can turn that around. it will all go to the bottom line. a turnaround? it is a tactical process that m

economic data in the united states -- nothing to get too concerned about.will get job openings and wholesale inventories. before the bell, hilton worldwide reports earnings. it was taken public by blackstone in a blockbuster deal and rob laurent reports this morning. >> just now across bloomberg, we have vladimir putin traveling to the crimea. there has been a hedge on the early u.s. morning and now we can say he has arrived in crimea. reviewing his is russian fleet. let's get to an incredibly busy company news. >> we start with the merger that would have created the biggest advertising agency. it is now off. they have abandoned their plans $35 billion merger3. agree onnies could not key management roles and organizational issues. first-quarter sales come up short at cbs. they posted a 12% decline in revenue. of the that was because cbs broadcast of the super bowl and fox had the rights this year. apple may go into business with dr. dre. apple is in advanced talks to buy beats electronics. the price tag is 3.2 billion dollars which would be the biggest appl

and worse than estimated economic data out of china on manufacturing. is in the background as well. this is not a large one. we also want to talk about something else you're watching all day. that was an investment conference. it was a version of that. the cable company controlled by john malone could top 100 bucks over the next five years. it will be acquired by vodafone. it could potentially be back by at&t. now is a look at where the market may be headed. manager,e portfolio joining me from his offices in new jersey. we have been in the sideways pattern for a little while. the dow recently hit a record close. when you look at the economic data and the jobs report on friday, i know that you have a more positive reading of the numbers we have seen. what are you looking at in particular? jobs,re looking at manufacturing, nonmanufacturing. it was very good today. we believe that overall, as the up,omy he thought -- heat you could see jobs on the monthly number for well over 300 houston. not only that, we look at the equity markets. we believe that in 201

there is some economic data. 10:00, the job openings -- we will also get wholesale inventories are it

economic data here in the u.s., we have a lot. surveillance comfort index and the market u.s. manufacturing purchasing managers index. 10:00, construction spending. all day, we are getting vehicle sales. exxon and conoco phillips and t-mobile and mastercard. after the bell, mastercard and linkedin. to push aheadning with the today cover t-mobile. this is according to people with knowledge of the situation. we met with six banks to get financing in place. there is also talk of a blockbuster deal in the pay-tv industry. at&t has approached directv about possibly buying the satellite-tv company. that is according to the wall street journal. nobody's commenting. the second-biggest pay-tv operator. abercrombie and fitch has given into an activist investor. they forged a truce with its investor and for independent directors to its board. been revamping the company after four straight quarters of falling sales. adam johnson is not buying his hunting year they. but as today's company news. >> criminal is now civil. that is the distinction

of bad economic data and the dow making a new high, all-time high yesterday, the s&p, short points awaystuart: what do you say? >> i agree with him quite a bit. good news for investors, it will help with confidence. when we see weak economic news people expect more action from the fed. i am not surprised the began a little bit of a rally. stuart: we get the big april jobs numbers at 8:30 eastern. give me the number on new jobs created. >> you will be lower than people think, gdp was a big surprise, my number is 180,000. stuart: when your number? nicole: 300 plus would be beautiful. in my heart i want to say 200 or less but the estimates are 210 because i'm in good mumbai will go with 205. stuart: what is your number? >> i'm on a low end today. i say 165,000 primarily because we had a week first quarter with the weather and construction. some logistics of getting crews going i am looking for it to be lower in the month of april but probably exceed forecasts for the month of may when we get the pipeline and construction and other industries going again. stuart: i see you at 215,000 new jo

the 10 year yield at 2.54%. >> we have a lot of economic data coming out this morning.g, cpi, jobless claims and industrial production and 9:15. you have u.s. futures down just slightly ahead of that. year. on the 10 >> good morning, everyone. all of our digital products on bloomberg.com. download bloomberg radio plus. i'm tom keene. with me, scarlet fu and adam johnson. we are thrilled to bring you steven levitt. his latest book is "think like a freak." their celebrities. >> these guys are rock stars. there is a new one on the block. he is always cited in the op-ed. -- tone on incoming quality income inequality is a raging debate. steven levitt knows a thing or two about being a rockstar economist. he practically invented the category in 2005. it's atomic that we're all interested in these days. -- a topic that we are all interested in these days. are we still dealing with the financial crisis? >> before the financial crisis, economists were very in vogue. the whole world turned on capitalism and markets and would we solve the financial crisis. this is the beginning of

economic data in the u.s. starting at 8:30 a.m., global goods orders and then 9:00, the case schiller home price index, and then richmond fed manufacturing at 930. >> it's a busy week but then we go on to a second look at first-quarter gdp later in the week which may decline. >> that's a rear view of the first quarter but radioshack is the only company of note reporting. >> their store were i live is gone. >> it's a train wreck. let's do a data check. equities are better than good. a record high in the s&p 500 and we advance further. the euro is off the key elections. vxx shows the good news in a quite markets. goal begins a decline, still and arrange but nevertheless $1284. but weaker yuan and the indian rupee turn as they have a new government. here is the minimizing shareholder value of astrazeneca. >> that is painful. table,as a deal on that 53 pounds, 50 pence and now it's trading like 42 because there is no deal. we looked at the newspapers and scarlet fu did that. >> there is a lot to go over with the e

of stocksching a lot and economic data. re watching shares of abercrombie & fitch, losses are narrower than estimated. shares are surging this morning. sales missed estimates. in terms of data, jobless claims and the revisions of first-quarter gdp will be out in just a few moments. a look at bloomberg top headlines. the world bank of scotland agreed to sell its minority stake for $167 million. the buyer is an investor group led by street partners. regulators have been pushing rbs to boost capital. another breakthrough for bitcoin. bit television has agreed to let subscribers pay their bills with bitcoin. that will start in the third quarter. another missed major toward him and for tiger woods. he will miss next month's u.s. open while he recovers from back surgery. he has not played on the toward this early in march. in washington, the beat of the minimum wage from continues. today, seattle will take the first step to increase its wage to $16 an hour. yang yang has been following the minimum wage. i know you were also at mcd

. >> i look at three days of disappointing economic data.ut the bond market aside, disappointing retail sales, disappointing industrial production, disappointing nehb numbers tomorrow. if we get notably disappointing housing numbers tomorrow, don't you think that's a serious sign -- forget what the bond market is saying. we're supposed to see accelerating growth. so far it's barely even modest at this point. >> i agree with that. i would say if we continue to see a couple of months of data that comes out, yes, you'll get even the strongest bulls like myself getting a a little cautious going forward. but remember it is going to take a few months of data to really catch up. i agree with you, if we start to worry about say one number or one or two numbers, then it is going to lose perspective of the entire market as a whole. you have to take that step back and understand we're only a couple of percentage points off of a high. it's hard to keep that into perspective at times. >> sheila, the nasdaq and russell come back. they're sort of leading t

. >> overnight, mixed economic data in europe. u.k. weakest pace in eight months, however, euro area manufacturing, i will get it out, the fastest pace in three months. they mix to read. on employment held steady, 11.8%. we get our unemployment rate at age: 30. that is the big number we are for this morning as well as change in nonfarm payrolls. 215,000, and that 9:45, the ism manufacturing for new york. 10:00, we get factory earnings, chevron, cvs, msg, estee lauder, we will also get the annual meeting from berkshire hathaway. the differenceey this jobs date field, the up feel here, within the mergers, acquisitions, the dow at record highs. >> a change in nonfarm payroll at the 250,000, that is big, double what we need for population. that is putting america back to work. i know the labor participation --at >> alan kruger is on a little bit later. >> nymex crude, 99.88 will stop let's move onto the vix and the idea of 13.25 really shows what talking about on this job stay and gold futures 1285. then there is the geopolitics, adam. you

. >> we always think their economy is phoney, but when they have an economic data point, our stock market shows it, of course. >> ben stein, whatever we make of the deals, we are seeing more of them, and i don't know what that says about the world and us, but it seems to imply the world is happily moving on despite us or in spite of us. what is going on? >> power, mr. obama has created a vacuum of power coming out of the united states, and he made us into a impotent bystander, and we have got to rebuild our defenses, and we have to pull ourselves together as a country economically, and above all, educationally. >> not bad. >>> when we come back, flyers getting too close for comfort not on the plane, in the air. wait until you hear uncle sam's plan to make the skies a little ♪ [ male announcer ] tora bora fallujah argonne khe sanh midway dak to normandy medina ridge the chosin reservoir these are places history will never forget but more important are the faces we will always remember. ♪ when folks think aboute the wthey think salmon and energy.r. but the energy bp produces up here creates

if you believe the recent economic data has been somewhat confusing to the markets and us, it has. steve liesman is here to explain. it has been very mixed, all in the interpretation, or maybe confused. >> the data was bothering me. it came in this way, that way, up and down so i created a system. i look at all of the data and say, show me the stuff that beat on the consensus and better than the prior report. show me the stuff that was worse, and worse than the prior month, so better/better, worse/worse, you know what happened? it came out even. i want to show you better/better. payroll's 288, beating the 215, jobless claims essentially coming in better than expected. small business optimism. ism manufacturing, and housing starts this morning, better than expected, better than the estimates, better/better, but then look at here, some pretty substantial players in the worse/worse component. industrial production, retail sales, gdp, all of these vehicle sales, and we just got consumer sentiment. six big over here. all of this daya comes in -- but some of these things have an effect,

economic data has been getting were the. earnings season, forecasts could be on the brighter side. we get a stronger number tomorrow, looking around 220, 225. i think that'll be helpful. now, does that mean the market's going to move up or down? this market so frenzied, it doesn't know how to digest that information. we'll probably see reaction next week when things settle down a little bit, we'll continue to get more earnings season and economic data, but it takes a while to digest this information. cheryl: charlie, do you believe that? do you think we're going to get a delayed reaction next week? >> i think we very well could. i think what's kind of interesting and it's extracting itself from 6.5% in the terms of a metric to be pegged to is the fact that, yeah, we have come up with a lot of jobs, and we've created jobs, but the quality of these jobs and the spending, you know, with low-paying service sector jobs just isn't that of a high-paying, say a construction job or even, you know, in the professional services. so i think he's right, and i think that'll take people a little

expiration to try to get the s&p back up to the 1875 level now here with monday we don't have much economic data coming out. so i anticipate the market's probably gonna start that push back down to the 1860's. > > almost every trader i know is watching the russell. should we continue to worry about the russell? > > the russell that's one of your small cap index and what it does is it gauges a lot of the smaller business in really mainstream america and if you start to see that really aggressively move down, it that means that they're tightening up on the smaller businesses. you're probably going to see economic activities start to contract. that's why interest rates have moved so low recently and i think people are starting to get defensive on their portfolios. > > traders will take off for the memorial day weekend what do you expect in the market? will we have that holiday feel with volume? > > well this is typically a sell in may and go away so i think we will see a spike up in volume coming into it, and after that i think traders square up their positions. remember the stock market has had ju

> > well as long as we continue to have good economic data like we've had last week and even yesterday and stable housing data which we saw last week and yesterday and continued good central bank commentary around the world, we can continue to ratchet higher-- it won't be linear, but we can continue to grind higher because we are healing. > > what is putting the fear into the oil market? russia came out and said that those gas deliveries likely to continue through europe at least into june, but here we are at $104 per barrel. > > a lot of that was the ukraine. people were worried about what was going on there so we've had easing in geopolitical tensions yesterday's at least perceived, and also we realize that we have a little more stockpiled that we thought last week. it's amazing what can happen in seven days of trading. > > well apple's getting ready for its 7-for-1 stock split coming up next monday. the stock closed at the highest level in two years yesterday. would you be a buyer here or would you wait until later? > > i think i would be a buyer because a lot of times if you see th

yes, economic data was better than expected, m&a activity has helped.et's not forget, we're getting close to the end of the month, we are going to see a little bit of window dressing here as some portfolio managers like to get their numbers up in this already-inflated market. next week unemployment numbers, so i think that'll really be the catalyst. but as far as right now, this market has been drifting up on its own, and there's been no real reason to make any sales in this market. the market tried to have a selloff yesterday, but the market just showed us how much stronger it is than those sell orders that are out there. liz: you just hit the nail on the held, and that is that it's not that this market has no reason to go higher, it has no reason to go lower, right, jon? that's what i want to clarify here. >> absolutely. we've seen some pretty negative headlines over the last six months, and nothing has really shaken this market. yes, we're going to move higher, take one or two steps back, but anytime we get momentum to the downside, it immediately ge

i think we could break through that range if we start to get more upbeat economic data. ry mixed. we are looking for some better data coming into this quarter and coming into the spring up to the winter. i think there's a possibility we do see an up to -- uptick in the data going forward. >> apple is close to striking a deal to buy beats electronics. 's headphones company, looking at about three point $2 billion. what do you see in the apple options? >> the options market doesn't seem to care too much about this. we're not seeing anything unusual. i don't think the deal makes sense for apple. $3.2 billion, seems like they're paying too much for this company. they're really after the streaming service and business they have built. beats international built-up platform often investment they made to acquire technology for $20 million. why apple doesn't do something like that or develop their own technology for streaming service, doesn't make a lot of sense here. at 3.2 clean dollars, that is a little bit below where pandora traits. -- trades. >> everybody is paying too much

the economic data that seems to be springing back or what happens happening in the ukraine? maybe both are good. if you see it as a buys opportunity. >> yeah, i think andre has it exactly right, in the sense that going back 30, 40, 50 years, unless you get a significant spike in oil prices or some sort of interference on the trade side of things, the effect of these types of global conflicts tend to be relatively short-lived. from an investment standpoint, i don't think anybody's concerned about the medium to longer term. the issue, of course, is we all don't live in that. we live in the immediate and short term. this was supposed to be over some time ago. this could obviously get way worse. but at that point, it becomes unquestionably a buying opportunity. >> you think, just to follow up on the conversation that michelle and steve were having, do you think ha harsher sanctions, whether or not they may come down the road, could harsher sanctioning be something that might hurt the u.s. economy? >> well, listen, i'm not a geopolitical strategist, and i don't know exactly. it's

bad economic data or marginal economic data like what we're getting, especially with job participationcould be the cracks although the bottom really hasn't fallen out here now. the market sending us mixed messages. >> some traders would say what we saw was short covering going into the weekend. >> here's the thing. something doesn't past the laugh test. we have a synchronized global recovery. we have stocks at all time highs and we have a fed tapering and yet the cost of money is declining. neither one of two things. we have more coming out of china being modelled in on the geo politics is about to get a lot worse. >> what bonds are saying here is not so much fear than confusion and then the fact that japan is going to have a four day weekend. we know they want to buy bonds in front of big four-day weekends. when there's stuff going on that they don't control that's geopolitical then they want to buy bonds. i don't think it's fear. i think it's confusion. short-term vicks got crushed today and the russell, the russell 2000 which lead the way down was actually the only major index that

economic data around the global is getting better, but today we to though the ukraine, that whole tensiona is getting less tense -- bad way to put it. but really the big reason is that the normalization of u.s. monetary policy will continue to be a cross over gold's head. i'm not surprised to see gold continue to dwindle lower. i still think it's going to be $1200 by the end of the year. lori: chris, do you think that the selloff is indicative of investors having a heavier appetite for risk and that's partly why we saw an equities rally today? >> i think people are getting excited because there's really no other place to invest, we believe. fixed income yields have come down in the big part of the year. we think equities are the place to be. we're looking at new opportunities. we think that the second half is going to be a lot better than the first half. you know, we've spoken in the past of one certainty that we faced was weather was really terrible. we think it filtered through the economy, and i think we're now beginning to see better economic numbers which should ultimately lead to be

we don't have any economic data to speak of except for new home sales. outside of that's it's going to be a really quiet catalyst-free day. > > what about the lowdown on the vix? these are levels we have not seen in a while. > > right absolutely. we're seeing the vix trading at multi-year lows here and i really think that it could be showing a sign of complacency-- i don't want to say that just yet. the one great thing about the vix being this low is that if i'm a trader who's low on the market and nervous about the upcoming months i can go buy protection very cheaply. > > might be a good plan. thank you, james. chuck coppola steps in now with a report on our heros and hiring... good morning, chuck... good morning! in today's cover story, a quarter of a million military personnel are discharged and try to enter the civilian job market, each year. and though more vets are being hired and the unemployment rate for veterans is falling, it's still higher than for non- veterans. there's no lack of effort to promote business to hire veterans. for the past thre

we have very little economic data coming out on monday. support for anything positive at all. keep an eye on the lookout. look for a little bit after slide down. david: phil streible, good to see you. have a good weekend, thanks. liz: housing starts. yesterday we got terrible housing sentiment. david: up and down. liz: amazing house numbers soaring 13% in the month of april as building permits jumped to a near six-year high. this is echoing from some industries biggest players. here is steve hilton, meritage ceo and what he had to say about yesterday's disappointings home sales number. >> i have no idea where they got the number. certainly not how we're feeling out here. our business is pretty good. david: how do you make sense of the housing markets mixed signals? let's ask steve brown, head of five star global fund, american century real estate. there are some different indices that you can look at of the let me focus on some negative news from some people's standpoint. the multiple family homes did spectacularly well, up 40% year-over-y

there was favorable economic data from the united states will stop the elections on the weekend in ukraine and europe are still being positively viewed and above all, there's the expectation the ecb will drop interest rates to a new record low when it meets next week in order to combat the record low inflation in the euro zone. mario draghi pointed to the low inflation at the close of the meeting and said that ecb will do everything possible, and those are magic, golden words from the people here in the markets. >> the session finished up half a percent. across the atlantic, the dow jones doing are you good at this hour. the euro down against the dollar. >> pope francis has announced he will meet with a group of victims of child abuse in the catholic church. >> speaking on his way back, the pontiff told reporters there was zero tolerance for any member of the clergy who violates a child. critics are already asking when will the vatican follow up words with actions? >> they are the folks strongest comments get on the subject of child abuse in the catholic church. the remarks came during his

. > > we do have some housing economic data coming into the market this week. how critical is that to traders? > > i think it's very important especially when we have the fed on top of that maybe speaking about housing. existing home sales thursday with new home sales on friday, it's going to add to the narrative. let's keep in mind our gdp last month turned out so weak we need something to move this market one way or the other and hopefully up. > > always a pleasure, larry. thank you. > > thank you. bus loads of protestors are expected to roll in for mcdonald's annual shareholder meeting. workers have made it clear they want the burger chain to raise their wages to $15 per hour and the right to form a union without retaliation. joining us by skype this morning, tsedeye gebreselassie, staff attorney for the national employment law project. good morning and will this make a difference? > > yes i think it will. you know if you look at what's happened over the last year mcdonald's has not had a very good year. this is the six major strike against mcdonald's and ot

also today in economic data. offsetting the negative gdp growth was personal consumption growth which advanced three percent annualized in the first quarter versus expectations for a two percent gain. and that i helped the market advanced today as the snp five hundred rose three tenths of a percent the dow jones industrial average and nasdaq laid out on the nasdaq tech laden on the index rose on and on twenty five basis points a piece of that said it's jobs by the growth of jobs that included dad going moving forward. high growth in earnings and revenues. as we move through the as the snp five hundred first quarter reporting season that will make a difference. stay tuned. this is john's office oppenheimer company new york am est another brief look at the market figures it is. it is. some people in south korea has harsh words for the country's president they're angry over the way papa nana offered an apology for the government's handling of the ferry accident. two weeks have passed since the sale will send off the

> you know, i think there's too much distraction, maybe focus on the immediate economy and the economic data. this market for years now has been dodging, navigating through a lot of challenging news. i think it's very predictive. maybe the data right now isn't so great, but this market is anticipating something very strong. so no, i'm not terribly worried about tomorrow's unemployment data or even some of the scheduled economic data through the month of may. i think the market is indicating that there's something much more bright on the horizon. >> where can i make money over the next three to six months, gene? >> well, the leadership hasn't really changed. i mean, you've had the biotechs under pressure lately and the technology stocks under pressure, others as well. i think it's a great buying opportunity. so i still like technology. i like health care. i like energy. manufacturing. but for those that are looking for a group that's been underperforming for several years now that looks like it could really have some legs here, i would point them to agriculture. i think that group is really g

especially in a time where there is so much mixed economic data. beginning this year everybody thought bond yields would be higher right now. they're not. the prediction game is very, very difficult, that is for sure. >> so alan, why stocks? >> because there is nowhere else to put your money right now. for as long as the fed is going to keep interest rates low, just last week yellen said they will keep interest rates low for at least a lengthy period of time. there is nowhere else to put money right now. so let me ask you this if you can put money in a treasury and get 2 and a half percent for ten years does that sound like a reasonable investment? a lot of investors flooded into the bond market but they will scratch their heads pretty soon and release wait a minute, we're not making money in bonds. so as long as the rates stay low, there is nowhere else to go especially with the stocks that pay a lot of dividends. >> there were a lot of stocks as we pointed out today on the s&p that actually yielded more on the ten-year treasury, but we said why d

investors really struggled today to find trading cues before some economic data come out of the u.s. these include durable goods orders, and housing figures due out later on in the day. the nikkei average managing gains today, though up to 14,636. building on gains of 4% that it had piled up over the last three sessions. some market players continue to buy, others, though, took some profits following the recent advance. in seoul the kospi slipped 0.6%, 1,997. that's the lowest close in two weeks, selling by domestic institutional investors hurt market heavyweights like samsung electronics and hyundai motor. and in hong kong the hang seng index down, as well, 0.1%, 22,944. retailers and shopping mall developers under pressure on speculation that hong kong regulators may limit the number of mainland chinese visitors. >>> japanese government officials are trying to figure out how they'll find specialized housing for millions of elderly citizens. that population is aging at a rate faster than in any other country. some are looking at ventures now in vogue in the u.s. they're encouraging

more and more firms are saying that that's not the case right now, we do have a lot of economic data coming out in the next two weeks that will give us a better confirmation, but i think it's just the economy being better is helping us. > > so investors are really looking for better managed companies and indicators of that? > > absolutely you always want to see a solid company and if they're making money in the lean times in terms of what they have been experiencing, should the economy pick up and i do believe it is, then they'll be quite profitable going down the line. > > dan stecich, thanks so much. > > you're very welcome i enjoyed it. diane moca steps in now with a look at a startup that's reportedly in the fast lane for funding. good morning diane! good morning chuck! reports say ride-sharing app 'uber' could be coasting to record funding. the wall street journal says uber is seeking to raise 500 million dollars in a new round of funding. reports last week stated the startup was seeking an unspecified amount of funding. if uber reaches its goal -- that would make it one of the

>>you mentioned the free of every type of thing that is out there and unfortunately economic data is never free and clear. the easter holiday fell during the survey week. what the employment number does is they go out and call people and say are you searching for work? if you're not searching for work, you've dropped out of the labor force. that survey week during easter, probably people weren't out looking for work. they may have said no because they were focusing on getting their easter turkey ready. >>some sectors, particularly construction, where there's a huge demand right now for workers. >>one of the things we've talked about is some sort of structural unemployment. meaning that there's some people who aren't coming back into the labor force. that has a big implication for the economy. i guess it ties back into my average hourly earning comments because as there is less labor slack hourly average earnings should go up. you're starting to see that hopefully. it was flat this month but we're thinking we're going to start seeing that in the future. there was an article in the wal