here to discuss is business analyst jill schlesinger. proving, job market much better, the unemployment rate at 6.1%, why are people not spending, why are we in this funk? >> according to wal-mart's president & ceo bill simon he says part of this has to do with the fact that lower and middle income families haven't seen the same gain. and any sort of improvement in the employment landscape is probably going to take another six to 12 months. he really says that they've seen that americans are willing to spend on the holidays, on family events, maybe a car but not much else. >> glor: this week the container store stock dropped 9% after sales were down 1%. is everybody being affected by this. >> well, not everyone. the high-end retailers are doing well but wal-mart, their sales have been down for five consecutive quarters. lumber liquidators had a tough time, family dollar stores are all seeing sales slide this is translating into bad news for their stock prices. if we look at the somebody 500 this year. phe 6th worst performers are all reta

that's according to cbs news business analyst jill schlesinger who joins us now live.hen it comes to the economy, this is the most important week of the summer. tell us why there hasn't been a bigger reaction in the market when it comes to the events in the middle east and the ukraine? >> reporter: you know, when we get these terrible news stories, what happens is investors will quickly conduct an analysis to gauge the impact on the global economy. now, with gaza, there's a big influence on the local economies but little effect beyond that. of course if the conflict were to expand, investors would likely reassess their conclusions. in ukraine, the russian stock market and the russian currency tumbled a bit but unless there is an expansion of sanctions that would disrupt the flow of oil from russia to europe, the economic damage should be largely contained. so kind of weird but not a big deal. >> you say these events could move investors. so what's on tap? >> reporter: well, tomorrow we are going to get the first estimate of 2nd quarter growth. we had a horrible 1st qua

cbs news business analyst jill schlesinger is here to provide some retail therapy. well, jill, after a tough winter, the economy and the job market are improving. what's holding all of us consumers back now? >> last week william's ceo said that middle and lower class customers are still what he calls economically challenged. he says they are only spending during holidays for family occasions and unnecessary purchases like replacing an old car. there is a nationwide retail funk hurting sales and traffic. today's report shows sales up by .2%. that was disappointing. >> what are the retailers doing to get us to spend again? >> they are developing new strategist. some of them digital and promotions to stay competitive with new strategies but some of them may not add up to much. many are taylors their asking prices of items -- tailoring their asking prices for items. so coupons don't amount to much savings. to combat the lure of a "great deal" before you go out or start shopping online. check the price of the item in multiple locations like amazon or big box stores or try

but cbs news business analyst jill schlesinger is here with her annual summer kiss for our money. his sense, what is kiss? >> reporter: keep it simple, stupid! it is the perfect mantra for the summer. start by streamlining your financial life. you want to use direct deposit. you know it's safer, it's easier, it's certainly more convenient than to pay for checks. automate your recurring bills. that can help reduce the chance of incurring a late payment fee. also, if you have been resisting it, please, it is time to bank online. it keeps down account errors. it is safer. and it allows you to check your balances on demand. finally, choose just two credit cards. that's it. two. use only those two. and don't close the other accounts because it could negatively impact your credit score. >> okay. what about saving and investing over the summertime? >> as much as possible put everything on autopilot. so maybe you can have your bank draft 50 bucks a month from your account and just go into savings. and maybe if you want to go up by $10 to 60 it's an automatic 20% increase. consider consolid

cbs news business analyst jill schlesinger is here to explain what gives. the laid estreating -- latest reading on consumers prices just in. what's it saying? >> reporter: prices overall up .3% from a month ago. 2.1% from a year ago. we also look at the core level. that strips out food and energy because those pretty volatile. that price increase only .1% from the previous month. up 1.9% from a year ago. >> i have noticed that fruit going up in the grocery store jill. the federal reserve is unfazed by inflation. why? >> reporter: well you know the federal bank is not tasked with addressing short-term price increases. like the ones that we do see at the grocery store or the gas pulmo. >>> . otherwise officials say they'd be at the mercy of weather or events in the middle east. that is why the central bank really looks at the core number and the feds want to see core prices to be at about 2% annually. now we're almost there. i just said 1.9%. i think that they'll let it drift a little bit higher but then they will begin to raise short-term interest rates to m

. >> that's great for a 401k and iras but jill schlesinger warns that investors shouldn't let their guards >> reporter: dow closed above 17,000 for the first time ever last thursday. and it made that jump from 16,000 to 17,000 in just seven and a half months. that is the seventh fastest 1,000 point gain in the index's history. meanwhile, the s&p 500 is nearing the 2,000 level. and 14 years after hitting 5,000, the first time around, the nasdaq composite is at about 4500. just 13% below that 5,000 mark. >> wow, despite the new milestones you say there are some signs of complacency. >> you know investors are feeling kind of mellow at least according to the st. louis fed. which said the financial stress index fell to the lowest level in over 20 years. separately, the volatility index that's often referred to as the fear index or the vix has dropped to a seven year low of 11. you may recall that it saturday above 80 during the -- soared above 80 during the financial crisis. of course just because the environment seems calm doesn't mean something bad is brewing but i think it would be a bit unw

jill schlesinger, thank you.21st, 1989, "when harry met sally" opened in theaters. anthony mason shows us how it was a quintessential romantic comedy. >> the original script was titled "boy meets girl." the idea came from rob reiner who was single and frustrated at the time. it was turned into "when harry met sally." >> a discuss began how men and women relate to each other. >> what i'm saying -- and this is not a come-on in any, way, shape or form. men and women can't be friends because the sex part always gets in the way. >> reporter: the romantic comedy grossed $92 million. written by nora ephron and written by rob reiner, it remains on one of the best. film and culture critic class never. >> reporter: 25 years later it shows how romance endures. billy chris tells us why. >> because it's real and honest. a wonderful script. great director. great pairing. >> we loved what we were doing, it was new york, romantic, leaves change. what could be better. >> reporter: and the movie's climatic scene shot in katz's del

. >> cbs news business analyst jill schlesinger explains new rules and impact on om have you. s live in london for us, hi jill, good morning. >> reporter: good morning. >> so what did sec officials do and why did they do it? >> reporter: well, the regulator is going to adopt new rules. they are applied to something called prime money fund. those are the funds that invest in short term corporate debt, the shares are not usually held by individuals. they are held by corporations large institutional investors. now here's the rule, big fund will abandoned their 1 dollar per sale pricing and instead these shares will float in value just like other funds. so again, institutional investors they risk losing principal if the share pricings down. the here's the deal, after a vigorous lobbying campaign, asset managers that cater to us regular old individual investors avoided the brunt of these new rules, however, the plan would allow all money market funds to temporary stop investors from redeeming shares in times have of market crisis or, to impose fees on us when we do want to get out a

. >> cbs news business analyst jill schlesinger is up in new york with some advice, hi jill, good morningo you. >> good morning. >> what are options for those who leave jobs or retire. >> reporter: generally you have three choices. leave money in the old plan, roll over fund from the old plan into your future employer's plan or you may be able to roll over fund into an ira roll over account at a brokerage or mutual fund company. >> which do you know is best one for you and your money. >> reporter: yeah, i will make you do some homework, sorry. you have to figure out fees you are paying in your current plan. this should be easier these taste because there is some laws that say they have to show you what your fees are. look at the fees today, where you, compare them with the details of your new plan. if your old plan has lots of choices and reasonable expense level and new flap, you may be better off staying put. conversely if the new plan is comparable to the old one it really might be easier to consolidate all of your retirement hold initial to one place. increasingly though more american

it is not only easy to focus on your finances during the summer but cbs news business analyst jill schlesingeras perfect trick so you don't forget burr money. >> jill joins us from new york with her summer kit for our money, good evening month, jill. >> good morning. >> so what is kiss. >> keep it simple, stupid. perfect mantra for the summer. streamline your financial life by using direct deposit. it is safe, easier, certainly more convenient then paper checks. automate recurring bills to reduce chance of incurring a late payment fee. i know you have been resistant but time to bank on line. that will keep down account errors and allow to you check on balances on demand. pick just two credit cards, and only use those two. do not close the the other accounts, that could negative liz impact your credit score but just use those two. finally improve your savings and investment plans. put it on auto pilot. put ago way 50 bucks a in month bump it up to 60. automatic 20 percent increase. >> any recommendations for savings and investing. >> reporter: most importantly we always have accounts all over t

here with the preview and her best guest when you can expect a racist cbs news business analyst jill schlesinger london, is that correct, jill. >> with her crystal ball it seems. >> what is expect from this report, good morning. >> reporter: economist predict 215,000 position where is created in june. that is close to the inly average we have seen this year. the labor market has improved since that rough winter. here's something interesting, employers are adding jobs at fastest pace in 15 years. , all the way back to 1999. but don't forget part of that drop that we have seen is a lot of disgruntled workers have left the labor force. if the market does improve and some of those folks we start their job searches we might see that rate remain flat or rise in the coming months. >> talking about the long term unemployed, any improvement there. >> four years ago. 6.8 million americans were out of work for six months or longer. got news is you the number now stand at half that amount. unfortunately while there has been really good progress only 22 percent have of the people who became long term unemplo

cbs news business analyst jill schlesinger is here with good advice. >> good morning. >> reporter: good so, jill, what are the options for those who leave jobs or retire? >> reporter: well, here's the three choices. you can leave the money in your old plan. you can roll the funds into a new future employer's plan. or you can roll the fund into something called an ira rollover account that is usually held at a brokerage or mutual fund firm. >> how do you know which one is best for you? >> reporter: it requires a little bit of work. you want to start by figuring out the fees you are paying in your current plan. then you want to compare them with the details of your new plan. so if your old plan has lots of choices at a reasonable expense level, let's say less than 1% and the new plan is expensive, maybe you should just stay put. conversely if the new plan is at least comparable, it may be easier to consolidate your holdings into one place. increasingly, more americans who are retiring or moving on to new jobs are actually transferring their money from old plans into iras. that's a 60% inc

cbs news business analyst jill schlesinger says facebook is poised to reach record highs.eporter: good morning. boy, facebook is lightening up the day. they reported earnings after the close last night. and a huge gain in their mobile ad revenue. that was the part of the company that people were doubting when the company first went public. they are trading up about 9 to 10% in the premarket as a result. it looks like we are going to get to about 78 bucks a share for facebook. remember that botched opening traded down to 20 bucks, now to be at 78 mark zuckerberg has to be a very happy man this morning. >> thank you. >>> 5:39. a fire shuts down a popular ride at a bay area theme park putting more than guests at risk. after the break, what investigators say caused it. >> and it's a complaint that got a dad and his kids booted off a southwest air flight. this morning, why he isn't accepting the airline's apology. we'll explain. >> and you might want to think twice if you are a water waster. from social media to phone calls, how the drought is taking the shame out of snitching.

cbs news business analyst jill schlesinger here to help now on this tuesday. first, how did the economy do in the first half of the year and what should we expect for the rest of the year? >> reporter: that polar vortex put the deep freeze on the economy in the 1st quarter. it contracted by an annual pace of 2.9%. the worst quarterly showing since the recession. things picked up in the 2nd quarter. we are probably going to see growth of about 3.5% on an annualized basis in the 2nd quarter. that means for the full year, though, because of that rotten 1st quarter, probably only growing by 2.25%. that matches the slow pace of the past four years. >> jill, the stock market had a pretty good june, so should we sell or buy? >> reporter: how about neither? okay. you know i'm going to say this. midyear is a perfect time to rebalance those accounts. just make sure your allocation remains at your desired levels and while you're at it free up some cash for any near term expenses. tuition bills come up in the summer, maybe you have a car purchase. if you work with an advi

cbs news business analyst jill schlesinger here to steer us in the right direction.ays does. so, jim, what's wrong with buying an idea or stock in a company that you know about? >> reporter: you know, it seems so simple. you buy what you understand, you're less likely to be led astray but this concept can often lead you to purchase stock in too many local firms that you're very familiar with or maybe to an overconcentration in your own company shares or those in your industry. or maybe you just are going to buy businesses that interest you but they all may not be the types of companies that will rise in value just because you're familiar with them. >> yeah. you know, i know you have a bigger problem with buy what you know. what is that? >> reporter: well, here i'm about to make some enemies. i'm not a fan of individual stocks. i know that there's this great allure that you're going to find the next big company and that's really compelling. but you know what? how many of us have the knowledge, the time, the energy to devote to building and maintaining a portfolio of i

jill schlesinger looks at the story's new developments. >> you can't look at the water and the sea without happened to george. ice got too many bad memories for me now. >> maureen and george smith have grieved for nearly a decade f since their 26-year-old son vanished on his honeymoon cruise in the aegean sea. he left a huge bloodstain beneath his balcony, a widow with know memory and a boat load of intrigue. >> i have no doubt in my mind whatsoever my son was murdered on that cruise ship. >> reporter: an fbi case remains open. i we've got a lot of confidence in the new team and they're working very hard on this. they're very determined. >> reporter: and the smiths are just as determined. they're now offering a $100,000 award that leads to an arrest n and conviction. george's sister, brie. >> i think with the reward it may be the piece of the puzzle that might end tin justice that's gone on for nine years. >> reporter: the story began with a shipboard interview. turkish police gathered the last men known to see george alive. men claim after a night of partying they tucked george into bed a