joining us now is john manley, also, michael farr. gentlemen, welcome. let's start out talking about the jobs report. that number was better than expected. do you read this as a sign that the economy is improving? >> i don't think there's any question. why shouldn't it improve? we've put a lot of money in it. it's just perfect. if the fed stays what they're doing. >> michael, how about you? have you been pleased with what you've seen? >> i've been relatively pleased. i think this job growth was pretty good. these numbers have been pretty good and we're moving in the right direction. we're moving still in that kirnd of 2% range, but i'll take it. >> answer me this, michael. why is this such an unloved stock market rally at this point? >> you know, we've had the, i guess the longest predicted correction that just won't happen in as many years as i can remember. it is kind of expensive and you can take a look at the profit margins and take a look at the schiller ratio and all of this data that suggests stocks are high. they are, they were high in '97. highe

john manley, chief equity strategist at wells fargo and michael farr, welcome to both of you. let's start out this morning talking about the jobs report. john, that number was better than expected. do you read this as a sign that the economy is truly improving? >> i think it is. i don't think there's any question. it should be spectacular. i think it's perfect. if the fed stays doing what they are doing, what they are doing is fine for the market. >> have you been pleased for what you've seen? i've been relatively pleased. the job numbers have been pretty good. and we're moving in the right direction. we're moving still in that kind of 2% range but all in all i'll take it pretty much any day particularly considering where we've been. >> answer me this, michael, why is this such an unloved stock market rally? >> we've had the longest predicted correction that just won't happen in as many years as i can remember. it is kind of expensive and you can take a look at the profit margins and shiller ratio and all of this data that suggests stocks are high. they are. they were high in

and at one point he's reading gerard manley hopkins, a jesuit poet, and he says, you know, i felt this urge within me to kind of get up and go to the church. and so he gets up and he goes to corpus christi church on 121st street and presents himself and says, you know, i think i want to be a catholic. >> at the age of 23, merton was baptized. >> like a lot of things in merton's life. it's all or nothing. you know, "if i'm going to be a catholic, i'm going to be the most devout catholic i can be." >> merton decided he should become a priest and was disappointed when his application to join the franciscan order was rejected. but he wasn't discouraged. >> he says, well, i'll just live like a monk in the world. >> he gave up drinking and womanizing and took up prayer. in september 1940, he accepted a job teaching english at st. bonaventure, a franciscan college in upstate new york. >> and he sets himself up as a sort of monastic teacher living that life. >> then, the following year, he went on a week long retreat to the abbey of gethsemani, a trappist monastery in kentucky. >> it's this in

uses a whole range of preemptive tactics to attain its and that's what kathy manley says one of the co-authors of inventing terrorist report. the government uses this. vastly inflated tears to justify a number of things such as the mass surveillance edward snowden disclosed used as justification for drone attacks in places where there's no declared war in and somalia it's used to justify torture even and yet there's a threat but you have much of a greater threat of getting struck by lightning as you do in america being in a terrorist attack whenever they start going after one group if they get away with it doesn't usually stop there and they have actually started using sting operations against other people besides muslims seeing whether it's illegal i mean many of these tactics vialli the u.s. constitution's. some of the stories from around the world and french president francois iran has called for an end to a nationwide rail strike now in its third day it's caused the worst transfer disruption in the country in years unions one to the government one the government to give up on a plan to uni

in guantanamo the us uses a whole range of preemptive tactics to attain its ends that's what kathy manley says she's one of the co-authors of inventing terrorists report. the government uses this. vastly inflated terror threat to justify a number of things such as the mass surveillance edward snowden disclosed used as justification for drone attacks in places where there's no declared war in somalia it's used to justify torture even and yet there's a threat but you have much of a greater threat of getting struck by lightning as you do in america being attacked in a terrorist attack whenever they start going after one group if they get away with it doesn't usually stop there and they have actually started using sting operations against other people besides muslims saying whether it's illegal i mean many of these tactics violate the us constitution. what are we going to come to know i will much the many great stories you go look few discover online a project science fiction into reality seems a nasa specialist has designed a vessel that might this is the might one day carry passengers acros

john manley from wells fargo funds management. and our own rick santelli. welcome one and all. kelly, i want to start with you because you made the case that now is a good time from where you see it to take some profits that's different from the views of a couple of our other panelists which we'll get to in a moment. why do you say that? >> well, i think that we have to factor in some behavioral finance into the equation here. i do expect a pullback. we're going into the summer months which is typically very slow for the market. on top of that we've got the midterm elections coming up. and given the conduct of the government over the last several years, i expect more turmoil and more volatility. and the market doesn't like uncertainty. we're in the fifth year of this bull market. so i think that as far as the economic news we've heard as much good economic news as we're going to hear for a while so, i think people should take some profits off the table, and i am a big advocate of asset allocation. i like the short to intermediate-term bonds. i think you should keep it low durat

looks like men are going to find a way, find a way, new way to appear more manley online. tiger selfies we told you about? some guys will be able to pose with killer cats much longer. >> that is how sandra found her husband. >> who knew. got the proof. ♪. ... robber... ... ... ... ... ... ... you told us your number one olive garden dishes. now they're part of our 2 for $25 guest favorites! get your all-time favorites like creamy chicken alfredo. plus unlimited salad and breadsticks and dessert. 2 for $25 guest favorites at olive garden. ♪ >> get it brian. i can so you dancing. that is sandra's theme song. >> can you add tiger selfies to the endajed species? >> new york is putting a stop to it that. and so they notice the trends, there is a bill banning men posing with tigers. and what can you do to not take a selfie with a tiger. and maybe they will not tell the difference and i would go grab a gator. nguys, you want to help me out then. why would they do that? >> it makes them and leak a great dane. >> and so that is like lion king tois? >> can you imagine to come home w

what was a difficult morning in wilmington, two lives were also saved, those of sergeant michael manley and corporal steve reinhart, members of the capitol police, officers who were wearing bulletproof vests funded by the federal bulletproof vest partnership. this was a partnership launched by my predecessor, now-vice president bidden. -- vice president biden. but without its participation, this vital law enforcement partnership would grind to a halt. vests work. they save lives. they save officers' lives. with this bill, we will be able to ensure even more officers all across this country have life-saving bulletproof vests. so those are two areas where in law enforcement and in public safety, this bill continues critical investments in partnership for the federal government to state and local governments. in recent weeks in delaware, we have also been reminded of just how critical our infrastructure is, our bridges and our roads and our highways. there is a bridge on i-495 that goes across the christina river, and this is a vital highway for wilmington and for the whole mid-atlantic re

this started happening all these locations were affected until further notice the hatch is we use manleycard devices until further notice. >>: the stanford daily reports that a senior was found dead in his bedroom and the residence hall yesterday staffer police are investigating right now investors say they don't know whether that is death was suspicious or not. >>: the u.s. is left to decide what to do next and iraq will have the latest on those details coming up. plus if elected avenge. your tv show a could be too much of a good thing will explain the research ahead. for a point over the city with too much of a good thing will explain the research ahead. for a point over the city with medical eye on the low 60s. it's the yoplait greek taste-off and we're asking this sports town which blueberry greek yogurt is their champion. it's the bottom of the 9th, who's it going to be? get your greek yogurt here! can i ask you a question? which one tastes the best? a tastes better. a. i love. lift it up and see what the winner is. who is it? no way. it's yoplait! i knew it! do you want to see whic

here's a separate cisco forecast for today mostly clear breezy and spots during the morning hours manley. the signatures will be in the low fifties until this afternoon will get sunnier skies. temperatures from anywhere from 55 to 60 out in redwood city and sfo. temperatures will drop down back to the low 50s tonight that is your staff cisco and peninsula for cats will talk about your whether they area live coming up at 815. >>: san lorenzo san leandro castro valley a word are all badly jim this morning in almost every direction of westbound interstate 580 is backed up getting into the castro valley there's problems in both directions for 238. we get numerous problems on the mix in both directions. so even the saucepot ride is backed appear and we have problems on the corridor where the south padre 80 at 237 an accident that left traffic backed up all the way to them they were. this is a solid line of traffic in the southbound direction is even affecting the ride and to 37 at the west ball. to 80 of out downtown san jose to cupertino is backed up. and the centennial bridge is another slo

manley the low 80s and golden gate bridge >> : in terms of what's ahead seven days from the day forecastr will continue on high-pressure over the area right now with that we could squeeze out of the triple digits before st. things going down with a fourth of july >> : at the corner of nicolas driving conquered the sun looking for missing dog its male pop beat six months, a number of you have to define the dog. a call the number and it's for invalid pager even from the poppy could drug given to >> : miss reason for something but not bleached is what everyone to be. but a few houses away in fact is another full-color sign the same house of a sign reads there must be a yard sale on this exact day at a house no yard sale unless this is what they're selling >> : the another grouse sale of air appointing me toward the direction of the sale of by another son no grudge sale. unless this is that >> : encounter the city criminal illegal sanskrit with this in for a lost dog or this party at concert. you see it all too often the sons get posted never removed but the sign according to the date has be