Skip to main content

tv   FOX Business After the Bell  FOX Business  August 21, 2012 4:00pm-5:00pm EDT

4:00 pm
a big sell order for bank of america, but all the rest i consider rigid financial and jpmorgan. david: we're about to come out with earnings, that is also do down, so as advance indicators of what may or may not happen, you have to stick with us right here the next hour to see what the numbers are. liz: take a look at how stocks are finishing up. dow jones industrials down, s&p almost at the flat line, cannot quite do it, the nasdaq lower by nine. the russell 2000 down a fraction of a percent. david: when you have high volume on the downside, it may be a little bit of the bear creeping into the bullish market. dell out in just a couple of minutes, those numbers and
4:01 pm
analysis as soon as the numbers come out. liz: described by some as running into a burning building. wilbur ross will tell us how he has made billions of dollars, plus what earning buildings he is buying now. david: always interesting to see what that guy is buying. what other people were buying in the data download, ending the session in the red blues in the early morning gains that so the s&p has the highest level since may 2008. leading the declines, financials outperformed. the eur road to a six-week high versus the dollar and european leaders, the euro hitting an intraday high of $1.24. gold and silver were the big winners today. climbing to a three-month high while jumping 3% settling at the highest level in more than 10 weeks.
4:02 pm
liz: ready to battle it out in a straight fight over where the market is headed and how you should be investing. adam shapiro ready to break in. at the center of the action with the cme. somewhat of a subdued session at the start, it did not end that way. >> volume was very significant as david said, but with the exception of right now very subdued all day. the mood is one of skepticism in the marketplace, but that being said nobody wants to be short the market. they're still long s&p, but with the volatility being so low, they are protecting themselves
4:03 pm
read david: i hate to break into the middle of her sentence, but earnings from dell, a key indicator of what could be happening in the tech market. what do you see? >> the street expecting $0.45. on the revenue side coming in 14.5 billion, setting 14.6 billion. all different kinds of caveats, talking desktop pc, mobility, but the revenue picture is a mess from what they were expecting. david: everybody knows dell for the pc, but the servers and storage more successful, more profitable component than anything else, particularly the pc sales. maybe they disappointed on that front. >> it certainly looks like they
4:04 pm
did. $11.80, $11.90. in the last three years, the bottom of the stock. not a surprise if we saw a quick bounds really settling in. that is the concern, not sure their guidance going forward is. liz: dell says they expect very challenging second-half for the end-useend user computer markett cannot be good for a computer company. >> not at all. very similar to what they all reported via did very challenging, a lot of headwind into the rest of the year. like companies, trading $11.85
4:05 pm
right now, watch this level very closely. i would suspect we will see a lot of buyers coming in at this level, a quick bounds and we will see what happens when we settle in. david: we don't want to overemphasize what is happening. it is down significantly. i had to ask about one particular trade. following the advice in the trades, but he got rid of all of his stake in dell in the second quarter, did that influence the market at all, his trade? >> probably a little bit. they said oh, my god, you better jump on the bandwagon. but because we are now at this level, not just a short-term support level, but three years, four years support level, people
4:06 pm
will be dipping their toes back in here. no question he probably had so much to do with what we're doing over the last three or four months. liz: we are up off the lows of the aftermarket session. we're watching it. thank you very much, we will come back when the s&p futures close. david: bill stone, asset management group chief investment strategist and for the bears, advisor, active etf comanager. gentlemen, great to see you. i have to say, it looks like investors think we just may have topped out, maybe now is the time to count your money and put some of it in your pocket, no? >> i think you can certainly expect it like any bull market you aryou're going to have a puk and i would not doubt we will have another one.
4:07 pm
i think you could look at it as where do you think things are going over the long run? we expect the economic recovery while it is subpar, we expect it to continue and you see some relief from europe, will see some headlines around that, but you have to think of the long run. i also think you have to think about valuation and i think that is where the case is really made. liz: john manages a short only etf, why the bearishness and at what time do you become bullish? >> the price to sales ratio on s&p 500 is h the highest. valuations are very rich pretty much waiting for the party at this time buying stocks.
4:08 pm
david: you are bullish on both dollar and the gold, usually these two things traded in opposite directions, why do you think they will go together? >> i'm bullish on the dollar becausbuthaving a pullback in tt will force people to cover the dollars short paying tribute to u.s. dollar leading to a short-term boost in longer-term bullish on gold because it seems from the world globally as opposed to the precious metal or hedge against inflation. liz: if you like stocks, which we know you do certainly, we decide to put your money to work? at some point you can say the financials looked pretty good right now, but we don't know that it's really the price. what is it you like right now for the short or the long term? six months to two years. >> like to put under the theme of thinking of sectors that have the opportunity for return of capital to shareholders sweet
4:09 pm
kind of write that down to three of our overweight really being technology, consumer discretionary and healt health , all have that ability, take technology as an example a perfect example like cisco we have an opportunity that came out of just announced they're going to return 50% of our cash flow to shareholders and to listen to than 3% roughly, that those are the opportunities and we look at sector as a whole, the sector has the highest cash to market sector of any sector there is out there. the opportunities of future gains or future increases are really there. david: as a barren stocks, are you betting interest rates going up, which might put more money in fixed income? >> not really, where focus on individual companies on a place to forecast that. they have nowhere to go but up over time.
4:10 pm
david: people have been saying that the past two or three years. >> eventually we will get there. these interventions don't work, eventually they will come to an end, everything will let itself out as it should. liz: you like cisco, but other names, what do you think is a real opportunity? >> we like home depot. probably getting more data and stabilization in the housing market, an aging housing stock and i think that is interesting. a transition from a lot of the patents falling off a lot of new drugs coming out by the end of next year and a nice dividend to kind of tide you over. david: thank you very much, gentlemen, good to see you both. speaker billionaire telling us where he is investing.
4:11 pm
wilbur ross has made so much money buy into companies other investors are dumping him a totally afraid of. why he is not afraid and what he is not afraid of next. david: former goldman sachs vice chairman for top economic official for the state department will tell us what economic development similes can get the u.s. on track and if china is a threat or an opportunity. fox business exclusive coming up. david: impact of rising gasoline prices as we get closer to labor day. live in washington, d.c., ahead on "after the bell." [ male announcer ] let's level the playing field.
4:12 pm
take the privileged investing tools of wall street and make them simple, intuitive, and available to all. distill all that data. make information instinctual, visual. introducing trade architect, td ameritrade's empowering web-based trading platform. take control of your portfolio today. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. trade commission-free for 60 days, it's something you're born with.
4:13 pm
and inspires the things you choose to do. you do what you do... because it matters. at hp we don't just believe in the power of technology. we believe in the power of people when technology works for you. to dream. to create. to work. if you're going to do something. make it matter.
4:14 pm
liz: somebody is buying upscale muffin tins. shares of williams-sonoma getting quite a boost right now following second-quarter earnings.
4:15 pm
david: let's go back to me calling for the new york stock exchange where she is an and fow trading on this stock. nicole: i enjoy going to parties that have muffins. let's take a look at the stock, and the earnings per share coming in at $0.43 beating the analyst estimate of $0.41, also the revenue also a beat, so you do have top and bottom-line as was the fact you are seeing after hours looking good, just about 6% in the after-hours having their first company owned global retail store over in sydney, australia, and they raise theiraised their full yea2 earnings per share guidance so muffin tins and a whole lot more. back to you. liz: we eat them, we don't make them. david: let's go back to scott bauer as the cme group.
4:16 pm
>> it was very subdued trading. the last 10 minutes or so has been a bit of an uptick. some short covering going to the news coming out tomorrow, home sales, the fed minutes. i don't think anybody wants to see short this market yet. buying tons of protection because volatility is so warm. david: thank you very much appreciated. it made billions of dollars investing in distressed situations by and industries others cannot sell fast enough to what is he buying right now? liz: billionaire investor wilbur ross joins us now. it's always great to have you because you are one of these people who saw the fish or the bird flopping around in distressed. >> or muffin tin. liz: we never use them.
4:17 pm
let's first talk about your most recent investment, that is into the gas tank or business lehman brothers once had about $110 million investment at a time when natural gas extraordinarily low and people are waiting to see some sort of movement and they haven't. speaker this is a group of moderate sized tankers, 22, 23,000. he carries the confided natural gas to small, shallow harbors into indonesia, vietnam and the venezuela, africa, places like that. a very specialized kind of activity. longer term it is a play on spending growth in the shell gas exports. president obama finally gave one
4:18 pm
export permit just recently, and we think they will be more over time. if so there will be a big demand because many harbors are very shallow, if not handle the large traders. david: this is also an investment into your core belief system? overcome the difficulties? and in fact the problems with liquefied natural gas could be overcome if the incentive is there and with gas was cheap you have to think somebody will invent a better way to liquefy, right? >> it is a known technology, it can be done. with natural gas at $2 change in the u.s., 12 to $14 in asia, there's plenty of room for equivocation, and transports. david: are there new techniques
4:19 pm
now that he looked at seeming to lower the cost? >> it lowers the cost i of exces supply in the u.s. because so much has been found in association with oil at a high price, gas becomes kind of a byproduct to does not make too much of a difference. liz: it is cheap here, but in europe it is so expensive air-conditioner home because natural gas is more expensive, so you're working off that spread buying the transportation into smaller vehicles and the smaller vessels that can get the countries who need it most. >> that is exactly right. liz: would you then say to buy natural gas? >> quite separately we have a very large position in mexico in the business of exploring for and producing in the u.s.
4:20 pm
david: there's another business, that is miscible bonds, love the predictions of some people, names will not be mentioned, have turned out not to be the case, some said they would go down, a sure guarantee is one company that insure miscible bonds. you put your assurance that companies who do you believe they will hold fast? >> they have never had one losing quarter and the entire crisis including right now. i don't think that is going to change. the fact that couple of disabilities in california, stockton and san bernardino aiming to solve problems with their pension fund and their constraints of proposition 13 is what has produced problems. liz: there was one in alabama, one in pennsylvania. you don't see those at the tip of an iceberg or the beginning
4:21 pm
of a domino effect. >> invisible bond market $3 trillion per year market. a few hundred million dollars on all the municipalities. liz: is the next opportunity you see that looks truly distressed? >> we have been looking at banks elsewhere in europe. i was in greece very recently, little too early you have to do anything there, i think they're in pretty bad shape. but at some point it could be greece, spain would be the place to go into. david: let's bring it back home, i mentioned invisible bonds is not an area you think will collapse as some people have said partly because localities doing a helluva lot better job getting their accounts in order in the federal government. do you think that'll be a trend
4:22 pm
we will continue to see the local governments, state governments getting their affairs in order to matter what happens to the fed? >> i have not seen california. david: indiana, wisconsin, reporting and the governor for austerity, what is happening in new jersey. more examples of things getting it right then getting it wrong. >> that is right, in palm beachh we change the whole pension system because there were a lot of abuses. people were retiring, they were rolling in the last three years overtime along with base pay, so guess who got all the overtime. that is not unusual. pension and retiree health of the two big monsters of cost the
4:23 pm
government to deal with. liz: thank you so much. what impact will improving trade relations with china have on our economy. a fox business exclusive, we're talking under secretary for economic growth, energy and environment. victory of state coming up. david: if you are planning to hit the road this labor day, be prepared for sticker shock at the gas pump. how much more will your holiday guests have cost this year? details coming up.
4:24 pm
4:25 pm
questions. when you're caring for a loved one with alzheimer's, not a day goes by that you don't have them. questions about treatment where to go for extra help, how to live better with the disease. so many questions, where do you start? alzheimers.gov. the answers start here.
4:26 pm
liz: breaking news. very important here. after months of searching for a regis philbin replacement, guess who it is, david? former nfl star, michael strahan gets the nod.
4:27 pm
he is expected to be named co-host of live along with kelly ripa. david: kind of strange. the announcement will come in early september. strahan who is a terrific guy, by the way is expected to remain in his role on "fox nfl sunday." we used to have him on the scoreboard. liz: all the time. david: despite the spike in gas prices the labor day holiday is expected to a busy one for people on the road. liz: itch rich edson is in washington, d.c. with this story. more americans plan on traveling this labor day weekend. that's what aaa says. 3 million will go at least 50 miles from their home. air travel up 3 into 7%. total travel up 2.9% a over last year. this is pretty challenging time. the current average has gone up.
4:28 pm
$3.71 a gallon. a month ago a little less than $350 a gallon. a year ago, not quite $3.60 a. this is the highest gas prices in a year yet americans are skipping town anyway. >> it shows that americans are really prioritizing travel this year. they think it is really important to get out, spend time with their friend and family. >> aaa says while more americans might be traveling they might be spending less on their travels. perhaps not eating at nicer restaurants or doing certain activities or not picking up souvenirs. how do you expect to leave town without picking up souvenirs? who does that? david: there are other reasons travel could be up as well, rich? >> one reason they point to is air fare. aaa says air fare in the top 40 u.s. cities is down 4%. there are destinations that have specials and people are
4:29 pm
taking advantage of it. liz: david wants a shot glass from wherever you are. >> no problem. david: love those little glasses. liz: from goldman sachs to the state department, bob hormats will tell us the best way to get this economy on track. it is a fox business exclusive next. david: jimmy kimmel getting a new time slot. what will viewers think about that? we have details in today's speed read. there are patients who will question,
4:30 pm
4:31 pm
why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a dry mouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are naturally in saliva. biotene helps moisten those areas that have become dry. those that are suffering can certainly benefit from biotene.
4:32 pm
has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. liz: time for a quick speed read of some of the day's other headlines. check out the scorecard. david ahead by like two. david: i wasn't even here. liz: whatever. five stories one minute. sec paid $50,000 in its first whistle-blower award. agency said the money went to anonymous individual to helped stop a multimillion dollar fraud. citibank is the first
4:33 pm
bank to issue branded credit cards in china as chinese government officials east regulations that barred foreign banks issuing card without chinese firms. jimmy kimmel live taking on jay leno and david letterman. bumping up from the midnight slot to 11:35 a.m. abc's "nightline" will temporary, temporarily move to the 12:35 a.m.. billionaire investor george soros betting on the world's most valuable soccer team. regulatory filing revealed his fund management bought a 8% stake in man-u. the new jordan lebron shoe will be the pricey evident yet. it will retail for $315. no, you can't have one. that is today's speed read [buzzer] david: right at the bell. liz: we're in the midst of the election season of course but there is one nonpartisan issue being addressed by both
4:34 pm
republicans apdemocrats and that is the u.s. trade deficit with china. so what kind of relationship should we really have overseas? david: robert hormats is the undersecretary of growth and environment. he served in both republican and democratic administrations. he knows it from both sides of the aisle. he joins us for a fox business exclusive. great to see you. >> great to be on your show. david: it is campaign season as you well know, and very often facts are the first casualty. with regard to trade there is no easy topic to pick. some people think it is a threat not an opportunity. even some in your administration are saying that. in what ways do you see it as a threat and what ways you see it as opportunity, china? >> it is both and i will go through a number of the arguments on either side. certainly there's an opportunity. a lot of american companies are selling more goods in china. a lot of american jobs
4:35 pm
depend on increasing sales in china. a number of companies are investing there and are doing quite well. so a lot of domestic jobs depend on continued growth in china and continued growth in american exports. but, and there's a big but here, a number of practices in which the chinese engage are very harmful not only to the interests of the american companies and american companies and american jobs but competitors throughout the world. david: like what specifically? >> protection of intellectual property in china, is very poor in parts of china and very uneven. some improvements in some areas but not in many other areas. they have policies which favor domestic chinese companies over foreign companies. they engage in a number of other very nationalistic or what i call mercantilistic practices that help their companies get special benefits, enable them to improve their protective
4:36 pm
strengths behind the protective walls which enables them to become more competitive externally. we're trying to do two things. help domestic companies export more into china and reduce barriers and get china to play by international rules that would help alleviate some of these problems. after all they depend on more on the global system. they should play by the global rules of the civil as well. that is a big challenge. so far we made some progress but a lot of areas we simply have not made enough and continue to press them hard. liz: they say you can lead a horse to water but can't make them drink. that is the problem with the chinese. we just had a story citibank is allowed to get in there with their credit cards and get the first branded card company in china that is a u.s. based company. on the other hand, and i always use man toe wok as an example. they are crane operators out of wisconsin. china said, come in. my belief.
4:37 pm
looked how cranes were made and slapped tariffs on manitowoc after a couple years and said we're not doing doing business with you anymore. we figure i had it out. >> that is big froom. trade secrets in china are very have nearable, american companies operating there. even if you're not operating there. products you make are vulnerable because chinese can retro engineer our high-tech products, take trade secrets and transfer them to chinese companies and chinese companies lo and behold compete with you in international markets. how do we compete. if they want their companies that invest abroad and treated in open way they have to treat foreign investment in china an open and protected way. if they want their intellectual property protected, and many chinese companies have intellectual property, they have to
4:38 pm
protect the intellectual property of foreign companies. there is no way around it they have to play by the rules if they want the international community to treat them the way they want as a market economy. they're clearly not in many ways a market economy. unless they do abide by these global rules that most other countries do abide by, to, relatively high degree, then they're not going to be part of the system. they have to understand they have a stake in the system and if the system turns negative, if other countries turn protectionist because they think the deck is stacked against them, that will adversely affect chinese companies and china does need to have their companies do well internationally because they have an employment problem too. david: okay. these have been softballs so far, bob. we have a real tough one for you. we'll put up video. i think we can talk over the video as we talk to you. there you are, with hillary clinton, your boss, dancing the night away. this is in south africa. >> yes it is.
4:39 pm
this is pretoria. david: when did dancing become a requirement working for the state department, bob? >> anything i'm asked to do for my country you know i do. i'm a patriot. this was actually quite nice event. south africa is a country we're working very closely, trying to improve relations. it is a growing market for american products. a lot of american companies are there and therefore part of, of south africa's culture is dancing and i was just moved by the moment. david: by the way, we're looking at radio city music hall right from our studio. nice time you come, walk out there, i'm sure auditions are happening every day after that video. i'm sure you would be welcome. liz: the rockettes. >> my version and the secretary of state's version of dancing with the stars. liz: you're our star, bob. >> thanks for having me on the show. liz: undersecretary of state, bob hormats. david: a heck of a dancer.
4:40 pm
we'll look into the mind of federal reserve on deck tomorrow. we'll break down the key figures that could move your money with an all-star panel. liz: not just the farmlands feeling the to from the drought. it is taking a toll on the shipping industry. jeff? >> barge traffic trickling to a halt as you see here on the mississippi. blockade in greenville. late word to fox business, they're thinking about reopening it again. we'll have the full story when we come back. stay tuned. ♪ . tdd#: 1-800-345-2550 you should've seen me today. tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw the trend. tdd#: 1-800-345-2550 it looked really strong. tdd#: 1-800-345-50 and i jumped right on it. tdd#: 1-800-345-2550 since i've switched to charles schwab... tdd#: 1-800-345-2550 ...i've been finding opportunities like this tdd#: 1-800-345-2550 a lot more easily. tdd#: 1-800-345-2550 like today, tdd#: 1-800-345-2550 i was using their streetsmart edge trading platform tdd#: 1-800-345-2550 and i saw a double bottom form. tdd#: 1-800-345-2550 so i called one of their trading specialists tdd#: 1-800-345-2550 and i bounced a few ideas off of him.
4:41 pm
tdd#: 1-800-345-2550 they're always there for me. tdd#: 1-800-345-2550 and i've got tools that let me customize my charts tdd#: 1-800-345-2550 and search for patterns as th happen. tdd#: 1-800-345-2550 plus webinars, live workshopsresearch. tdd#: 1-800-345-2550 whatever i need. tdd#: 1-800-345-2550 so when that double bottom showed up, tdd#: 1-800-345-2550 i was ready to make my move. tdd#: 1-800-345-2550 all for $8.95 a trade. tdd#: 1-800-345-2550 can you believe it? tdd#: 1-800-345-2550 i love it when you talk chart patterns. tdd#: 1-800-345-2550 en an account and trade up to 6 months commission free tdd#: 1-800-345-2550 online equity trading with a $50,000 deposit. tdd#: 1-800-345-2550 call 1-800-284-9850 tdd#: 1-800-345-2550 and a trading specialist will tdd#: 1-800-345-2550 help you get started today.
4:42 pm
[ female announcer ] some people like to pretend a flood could never happen to them. and that their homeowners insurance protects them. [ thunder crashes ] it doesn't. stop pretending. only flood insurance covers floods. ♪ visit floodsmart.gov/pretend to learn your risk. >> i'm adam shapiro with your fox business brief. dell shares under pressure after second quarter revenue an full-year guidance fell short of expectations the tech giant says the pc business remains challenging and demand has been sluggish in emerging markets. separately dell announced former hewlett-packard
4:43 pm
executive as its president of enterprise solutions. on the flip side shares of williams-sonoma were strong for the second quarter. potterry barn showing double-digit growth. williams-sonoma is planning to open the first stores outside of north america by setting up shops in australia. a rally pushed the s&p 500 to a four-year high. that's the latest from the fox business network, giving you the power to prosper.
4:44 pm
liz: the worst drought in more than half a century is really not just hurting farmlands. david: the record breaking dry weather is slowing down the midwest's most active shipping lane. jeff flock is in bet 10 cover, iowa, with the details. jeff? >> out here along the mississippi. this is a huge grain loading
4:45 pm
facility. all quiet here because of that block down in greenville. take a look at the traffic today. we took a picture of just one tow boat that went by our position here in the quad cities. why? because down in greenville mississippi, there is a blockable right now. but the coast guard telling us giving us late word they're planning to reopen that stretch of the river sometime tonight. they did that last night however and ran aground again. why is this so important? look at numbers of what is shipped up and down this river. 60% of the all the grain that goes to export is shipped down the mississippi. 20% of the all the oil. 20% of all the coal. as each is shipped in a barge, a barge that is 195 feet by 35 feet that carries about 1500 tons. when you get low water levels like we have out here now because of the drought, they have to take off 17 tons of cargo for each inch of reduction in their ability to draft. so, this is a big loss for the shippers. it is the coast guard and
4:46 pm
the army corps of engineers that are tasked with keeping the channel open out there. what does it look like out in the middle of mississippi right now? we went out and took a look. we are now right now in the middle of the channel of the mississippi river here, right between illinois and, well, illinois that way and iowa off that way. and the coast guard and the army corps of engineers is of course at thatted with keeping the channel open both on the upper mississippi and the lower mississippi. on the upper mississippi up here there are locks and dams that assist with that. once they get down to the lower mississippi the river runs wide open. that is where the problem is. down there with silt on the bottom and the low water levels combining to produce a situation where there is a choke point. and there may be more choke points to come because the forecast is for more dry weather. no rain that would rise these river levels and take it back to normal. just last year by the way,
4:47 pm
record high river levels. and, guys, this is why we have a huge berm out here. take a look at the huge berm and how far down it goes. because they're concerned about flooding. i think you can see the picture right now. flooding is not a danger as it was just a year ago. pretty amazing how things change. liz: fees or famine. jeff, perfect explanation of what is going on out there. david: jeff flock. we have an all-star panel that breaks down the numbers that could move your money. tomorrow's trades today. that's next. liz: in the eloquent word of homer simpson doe. we'll tell you why "the simpsons" may cost the post office millions ahead on "after the bell.".
4:48 pm
looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity.
4:49 pm
4:50 pm
4:51 pm
liz: time for three key things to watch term that could move your money. we have a all-star panel. sandra smith and adam shapiro and peter barnes from d.c. sandra, key to watch. >> hewlett-packard out after
4:52 pm
the bell. right now the average estimate analysts, 98 cents a share on revenue of $31 billion. this stock has lost a quarter of its value this year. facing largest loss in history. although that is expected because it is absorbing massive charges, tied to one of the ill-fated acquisitions. that was back in 2008. electronic data systems that is all going to be in this release tomorrow. this is closely watched earnings report from hewlett-packard. david: adam, if you want want a clear read on economy you have to get a read on housing. we have one of those key indicators coming out tomorrow. >> that's right. zillow said we had hit bomb. suite we'll get the national association of realtors getting home sales for august. we expect to 3.3 increase to annual rate of 4.5 million. keep in mind last month we
4:53 pm
were dispointed by the figure. it missed expectations. but people seem to be finally bullish on housing. look at the s&p 500's homebuilder etf. it is doing pretty well. that is home builders. but with these existing home sales numbers. we have zillow calling a bottom. different analysts on housing calling a bottom. prices not jumping up too much. but at least volume picking up as far as sales. we'll find out if it is a real hit tomorrow. liz: peter, you have the number one thing to watch for tomorrow. >> tomorrow afternoon we get the fed minutes for the last fomc meeting july 31st and august 1st. there were no big fireworks in the policy statement from that meeting. the fomc continued the current policy, low interest rates through 2014 along with operation twist but markets are looking for any clues from any corner of fed land on the prospects for additional monetary easing. dennis lockhart, the president of the atlanta fed and a voting mem per of the
4:54 pm
fomc this year, told voters after speech he remains undecided on additional estimate us are. he is not happy with current economic trend and hint he could support more. >> the u.s. economy has been in technical recovery since the summer of 2009. the recovery to date has been, has seen weak growth and persistent high unemployment. by any number of measures the strength of the recovery has been and remains disappointing. >> fomc meets next on september 12th. david and liz. david: big meetings coming up. thank you very much. sandra smith, adam shapiro and peter barnes. good to see y'all. liz: thank you. david: if you think your food needs more salt you will not be able to get it at one restaurant chain. oh, no, is this the nanny state gone wild? more details coming up. liz: even "the simpsons" couldn't save the u.s. post
4:55 pm
office from its budget problems. we'll take you "off the desk" for that one next. ♪ . everyone has goals. take the steps to reach yours, with us with real advice, for real goals. the us bank wealth management advisor can help you. every step of the way. from big steps, to little steps. since 1863 we've helped guide our clients, so they can take the steps to help grow, preserve, and pass along their wealth. so their footsteps can help the next generation find their own path. all of us serving you. us bank but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint
4:56 pm
and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios
4:57 pm
4:58 pm
tracy: let's go off the desk. cap you please pass the salt? that won't be a phrase you will be using in dining chain boston market anymore. the franchise is literally taking salt off the table by removing table salt shakers from all 476 locations.
4:59 pm
what? the food is already salted. it is fine. boston market plans to reduce sodium men use in three items, rotisserie chicken, wait a minute i like extra salt. liz: the changes they say are an effort to make the them more healthier by making them aware of sodium intake. david: i bet people bring their on. off the deck, the u.s. postal system wasted, doh, do had,, doh. david: postal system wasted 1.2 million in printing stamp manies from "the simpsons." they didn't sell. only sold 318 million of the stamps. they reported a $5.2 billion loss in its third. they could save 2 million annually by the overproduction of stamps. would have

231 Views

info Stream Only

Uploaded by TV Archive on