but that is still softened, just like nonmanufacturing. rishaad: that is right.damentally the problem. guest: are they addressing it at a local level. even on the national level. they gave out a lot of credit. but ifere new orders this is not going to new orders, where is the credit going? financing, liquidity, which companies would reflect of the bad situation we are talking about. rishaad: and this is how it goes. in your research, when we look at banks, people are saying, it is not as bad as all that. you are saying that that does not reflect what is going on. and we ask the question, when is a nonperforming loan or a bad one, actually about -- a bad loan? guest: we are a little more lax when recognizing npl. the number should be quite higher. very simply, you add in npl and they are at 5% already. standards are being complicated now. they are moving toward western standards and the numbers should be higher. thatad: you are suggesting it is not 1.6, but closer to 70%. -- 17%. that is a huge difference. guest: it is really bottom up. we look at all the companie

on wednesday, a service sector with the ism nonmanufacturing survey.s the anniversary of allen shepherd jr. being the first american to go into space. we'll see how many jobs are added to the economy when the unemployment report is released. as more and more states legalize medical marijuana, a new patient population is emerging whether it's for pain, arthritis or anxiety, cannabis is now being offered to canines. our jane wells has more. >> this is joy griffin. >> this is the last person you'd expect to see at a medical marijuana dispensary in los angeles. she didn't come here for herself. she came for joy. >> well, basically, joy was diagnosed in january with cancer of the bladder. >> reporter: radiation and chemo would cost thousands of dollars but griffin had a friend who used medical marijuana to recover from cancer surgery and recommended it and that's when she discovered the hottest new field in cannabis. >> there you go. i'm going to squirt it in there. >> reporter: pot for pets. >> that's a good boy. >> reporter: deborah has been giving her do

nonmanufacturing, not in construction, you can only work eight hours a day, 40 days a week but you can a decent summer job. 16 to 17-year-olds, they have to work in nonhazardous conditions but they can work at any job that is there for you. >> what does the market look like, if you're looking for a summer job, is this a good time to be looking for a job or not? >> it's a great time to be looking. a lot of companies say they will have their employees set by the end of the month. >> and the job market? >> it's doing very well and you're getting paid more. that's what is really significant for a lot of these kids that want to make a nice amount of money over the summer. about two wage was $10 an hour and now it's closer to $13 an hour. >> it's tough. if you're looking at the unemployment rate for teens, it's a much higher rate than for everybody else. >> it's a significantly higher rate so it makes it really important that teens focus on what they need to do to get this job just like anyone else would have to do because they are going to be competing older workers, too, for these position

china, we are expecting manufacturing and nonmanufacturing pmi with slight declines expected there.ost is expected for australian gdp. that's just some of what we are watching today. emily: some of the biggest names in tact will descend on silicon valley next month for the global entrepreneurship summit. president obama is hosting the event at stanford aimed at fostering exchange across borders. last year's summit was held in kenya, putting a spotlight on tech innovations across africa. african-based startups are expected to hit up ilion dollars. for more, we are joined by linda thomas greenfield joining me in the studio. david kirkpatrick is still with us in new york. it is fascinating. i had not heard the term silicon savanna until today that apparently people are using these terms. how would you describe the tech scene in africa right now? you say they skipped a lot of steps to get to where they are today. guest: i would describe technology in africa as thriving. there is a huge interest in improving access to technology. africanse areas where really get technology is in telephon

nonmanufacturing emi, which surveys mostly private enterprise banking, telecom, property, and other servicetries fell in april. or send employment showed improvement but input costs are rising. only service companies by traditional manufacturers as well. private manufacturing pmi out earlier this week and slightly deteriorating sentiment in april the march 30 economist say benefits for monetary easing fromhelp boost credit companies may start to peter out a bit. bloomberg news, hong kong. mark: let's check on markets are doing in europe today. rising -- three out of four ain't bad. continue to dictate the mood in europe. have a look at the best and worst performing industry groups on the stoxx 600 today. bt group, the u.k. reported profit that beat estimates, telecom stocks, energy up, it beat expectations today. 1%.rers lower by in the currency markets today. an interesting move. i thought we would look at two turkish assets. down after rising the most since 2008. the prime minister will step down. he has lost his fight with that president and the bond yield is up. inore they move upward y

manufacturing and nonmanufacturing are out this week and they have been struggling to hold above 50,ially in the case of manufacturing. there are two interpretations of the data this week. if we see a slowdown in the x inike number and a perk up average hourly earnings or wage pressures, we can sit back and say we have reached full employment, the price of labor is going up so supply and demand tells you that demand for labor should justify a slower pace of hiring in that environment. if we do not see wage pressures and you still get a slowdown it lends credence to the argument that the economy is being bogged down. david: it is not just how many people are working but how much they are making. what would be a robust number on wage increases? carl: i would say in the 5% to 6% affinity after you adjust for inflation, that should justify the type of consumer spending's we need over the course of the next couple of months in order to keep in line with the fed's target. we have had some upward revisions to household income, putting the consumers on slightly better footing for stronger pe

we still have some important data in the form of nonmanufacturing ism.nging that out at the top of the hour. carl, back to you. >> thank you very much, rick. we are getting a bounce in crude ahead of inventories in about an hour and a half. jackie's at the nymex. >> hi, good morning to you, carl. that's right. crude prices are heading back towards that $45 mark. the api was out last night with its inventory build 1.3 million barrels. it was a small build but at the same time distherereats and gasoline grew. part of this is seasonality and expect eed increase in demand coming from summer driving, winter maintenance, switching to summer gas, a lot of people caution me. look at the charts from last year, similar season runup and in june prices went down again. the reason that happened was because of the oversupply. bob was talking about people being a little skeptical about the rebalance happening. and he's probably right. a lot of people are impatient that the u.s. is still producing just under 9 million barrels a day, that opec is producing at record leve

now we have to look forward to see what we have here a nonmanufacturing read on how the economy has beenoing pretty well. there are too many forces right now and nobody really knows what's going on until we see the data. we need examples above if a restart moving up here stuart: 14 straight weeks of dumping, they sent to collect in a dated 2008 straight weeks. 65 points right now to the dow industrial average. how about amazon. the business marketplace which connects businesses to suppliers. $1 billion worth of revenue in the first year. a billion in the first year. how about netflix all over the place recently. today said $91 per share. twitter has a new low yesterday dropped below $14 a share bride at 14 as we speak. ashley: dgc they are not ordered as many ping-pong tables which is now seen as the measure as to how well the social immediate companies are doing. contrary to how about apple. the struggle to $95 a share. shah gillani, you bought a month days. >> had a great run with it. i think the shots should go to 105 fairly easily. it doesn't support -- has some sort to get to 100 ea