First, lets look at the headlines this week. Bill. Thank maria. Here is what is making news, a stronger than expected jobs report for the month of june. The economy created 195,000 jobs and the Unemployment Rate stayed at just above 6 . In april and may, both revised upwards by a combined 70,000, and that sent the markets higher, with a week that were watching the turmoil in the middle east and anticipated earnings season next week. Auto sales are speeding up, they are on pace for more than 16 million vehicles sold. Thats the best since 2000 and seven. General motors saw an increase of 6. 5 and ford up 8 and to it was up by nearly 10 . That rise is being met with a spike in oil prices, crude oil above 102 a barrel now for the first same since may of last year. Part of that due to the unrest in egypt and lower inventory in the west. Everyone was wauting everyone was waiting for the jobs report. What does it mean nor the economy . What does it mean for your portfolio. We have mark zandy, and mike, co z jean, good to see you both. A mark, a good number. It was. And we are seeing it trend higher as well, what do you make of it . It looks like job growth has said up. To my surprise, i expected the tax increase and spends cuts to do damage. Why havent they . The stock market has gone north and that has lifted the higher income households. Mike, what do you make of this and what does it mean for the stock market, that lets face it has been going higher for the most part because of the federal reserve, can it return higher if the fundamentals come through . Sure it can, as long as the fed stays involved and corporate earnings stay strong. We will see what happens coming in the Second Quarter earnings here. I think the jobs report today was sort of right in the middle. Its growing and the earlier months revisions were positive. It shows that theres a base building that the fed can rely on in terms of predicting better when they may have to exit. But it also was not Strong Enough to significantly bring down unemployment and you also have to keep in mind, despite the comments that have been all over the place lating, and maybe that is craziness with an intent, but the fact of the matter is, with these rates, unemployment is not going to come down significantly for quite a while. You have to remember the dual mandate, that means they will be involved in some way for a while going forward. Mark, it would appear that the bond market will anticipate when the fed is going to pull back on the easing. The tenyear note, went to almost 2. 7 . A twoyear high there. Right. Faster than i thought. And faster than ben better knac knack ben bernanke thought too. Its a little too much too fast. It will hurt the Housing Market and the recovery that has been key to the economic recovery, my guess is chairman bernanke will have a speech in the coming week and he will use it to talk the market down. If the markets do not moderate, then i think they may send a stronger signal. What about that decline in bond prices, what it does to those investors, they are losing principal in the meantime. They are, but if they are in short of securities they are gaining it in better yields. I think theres a longer term issue there in terms of income and so, yeah, i think you know, it is good for investors to stay short and that way they can realize rising yields if in fact the market does continue to have increasing yields and lower prices. The other story that the marks are focused on. The unrest in egypt and it seemed that the market would go lower when it was unclear what was going to happen. Once morsi was taken into custody of the military, the markets responded. What makes the investors nervous is the uncertainty that is created by this kind of unrest, as soon as you get a bit of clarity the investors calm down for a while. And mike, when its all said and done, what do you with the stock market right now . I mean, you sound like a guy that expects the fed to be in the market for a while. Does it bode well for stocks or not . It does bode well, and its continued to, because the stock market is basically out kicked the coverage of the economy. I mean, the stock market is up in the teens this year. And Economic Growth is measured by gdp, somewhere between 1 and 2 . Fundamental you need corporate earnings. If corporate earnings do not grow, you will see market multiples getting expensive. They are fairly priced right now, they are not cheap, but they are not too expensive yet. Are you buying anything right now . We have been taking profits along the way. We run an Asset Allocation product where we are reevaluating and the stocks have provided interesting selloff opportunities we have bought in various spots and we are selling as well as part of the allocation strategy. Good to see you both. Thank you for joining us today. Thank you. And now here is the rest of the show. The week, unrest erupted in the streets of cairo, i spoke with a man familiar with the regions politics and happens to be one of the richest men in the world. He will share what he thinks went on in the revolution. Clearly the islamic people over there have proven to be strong underground, but politics above ground, they are a failure. Its good news to show the real face of those people that were underground. Meanwhile the other story that is side tracking this one is oil. How much of what is happening in egypt or throughout the middle east, broadly speaking is the threat to the stabilitity of oil prices . You know, the price for oil is a function of the stability of the middle east to a certain exten. Having said that, no doubt the production of shale oil in the United States, europe and some of the other countries in the world and the production of small oil and gas in those places, australia and canada will put more pressure on the price of gas in the coming years and decades. Are you investing in the u. S. More than you had in the past . Our investments in the United States was in twitter, where by now its clearly doing well. You think twitter will go public . Is that your exit . Yeah, i think twit already have to go public and that they learn today lesson from the facebook going public. I think they will be patient. And not rush things at all. My thanks to the prince. Up next on the money, what will the major stories catching investors eyes be in the second half of 2013, we will get prediction and analysis. And later, celebrating the holiday with the wine and spirits business, what consumers are opting for when it comes to the red white and blue. As we take a break, take a look another how the stock market ended this week. We will be right back. Welcome back to the show, as business, as investors prepare for the second half of 2013, what are the major impacts to the mark . Joe, the editor of Business Insider and ben white, politicos chief economic correspondent. Good to see you, and thank you for joining us. Joe, kicking it off with you, Second Quarter ended with a bit of a ride with the market. The federal telegraphed that it will start winding down the stimulus. What does that mean for investors and second half . Theres a lot of market confusion and some turmoil over talk of the taper. Reducing the pace of qe purchases and also maybe a rate hike at the end of between 14. That being said, i think the market has handled it well. We have seen a big jump in interest rates, 2. 5 on the ten year that is impressive and stocks are doing fine at the alltime highs. So, i think you have to be impressed with how everything has been digested so far. Right, what are the alternatives to owning stock . Well, that is one of the big a argue manies, we continue to see solid data and the market holdup, its an indication that we can withstand the tightening at the margins without it all collapsing. And you right, it did the feds job by moving the rates. We will shift, big surprise announcement from the administration, giving companies another year before implementing the Affordable Care act, a blow for the president . It is, its his signature achievement, Health Care Reform and they say, we will give employers another year. Theres an individual mandate and no mandate on corporate america. Companies will be happy about that, they have another year. But it raises a question for the fall. How much of the implementation will be ready for the fall. They are supposed to have Health Care Exchanges set up by october 1 and to have the individual mandate set is up. If companies are not telling you which are covered and who arent, how do you decide who gets the subsidies for the individual mandate. I think you could see more turmoil in the fall around the implementation and if that happens, that is a problem for the president. You have to believe that businesses were complain background the expense. It was tweeted, were listening. They are trying explain it, as hey, we are not antibusiness, we love business, we talked to them about this and we are delaying it. That is not going to fly. People are going to realize because its a mess at this point. And 94 of employees are already covered so we are talking a small slice of the employee world. Last week the Senate Passed a bill to create a path for citizenship. How does that play out to get people in the system and tax revenue and for the large corporations who have been banging the immigration drum . For the most parts, a lot of the constituents should be happy about it. Having 11 Million People undocumented is a system that needs to be addressed. Having them in this sort of legal limbo is a terrible situation, to addressing it is a really good thing we have to do. And as you say, like a lot of companies are excited to see the rules improve on this much you have the Silicone Valley Companies that are excited to see increased h1bs, its not a done deal and theres sides that will try to kill it in the house the tea party would like to prevent the passing of it. Overall, it seems that its likely to happen and an improvement. And a lot of Tea Party Republicans feel its an amnesty bill. They feel they are giving immigrants a free pass into the country. Lets look around the world. This week, we have stunning pictures. To see the protesters in brazil. What does it tell us about the global economy. When you see the pictures happening in egypt. All the millions people taking to the streets . I think it tells you that you have middle class economies growing, and they wants change. A lack of corruption. And they dont believe the morsi government is operating properly. And they want it changed. So you have emerging economies that used to be great investments for everyone and a lot of money was made there and now you see unrest that is making the investments seem risk e. Quick prediction, the most important trend in the next six months, what do you think . If job creation stays at or the same longer. If it does, the feds exit is sealed. We will get a new fed chairman late this year and early next year, that will be a big challenge for that person to continue to bernanke wind down in a successful way. Great to see you both. Up next on the money and happy fourth of july, cocktails and wines that celebrate different regions of america, we are drinking the red, the white and the blue. And you can find us on we dont have a ten step filtering process for our water. We dont need it. Because Crystal Geyser is made by nature, not by man. Crystal geyser is always bottled at the mountain source. For more on our guests and show, check out our website, look for me on facebook and google , as we celebrate a long weekend and a look at the wine and spirits industry. Thank you for joining us and you brought some great wines here. Yeah. You brought us red, white and blue. I admit i did not bring blue wine. I have a blue cocktail for you. I want to talk about how we drink, as a country, we drink 90 california, but theres a lot of of great wine being made in every state in the union. None are from california . And not from oregon either. We have channing daughters, its a terrific red wine, this is from long island. Its from right around here and long island is home to about 50 difference wineries at the point. And its a robust wine business, been growing a lot. A lot of tourism, obviously from new york city. And its a blend. And its a really dark rich, you know, sort of smokey wine almost. I love it. Its about 24 a bottle. 24 . Yeah. You do not have to spend a lot for a good glass of wine. There are fantastic wine for 20, 15, and virginia, a huge wine tourism area, a lot of vineyards. Its big business. You know, it adds a huge amount to the state economy. They have been growing their numbers these days and this is a cabernet, lighter. Its lighter . Yes. Its a variation, it has a bit more of herbal character and then you have white. Moving to texas. You do not think of wine when you think of texas. There are over a Million People that visit wineries in texas. It adds a lot of money to the state economy. This is a wine from texas, its a Southern Grown variety from france and it does well in the texas soil. They are in the hill country in texas. You think of peaches and honey suckle, that is what it sounds like. That is 14 a bottle. White is generally cheaper than red. Yeah. Theres less prestige on some level, which is a pity, this is a lovely wine. Michigan, of all places. Michigan . They are producing great reislings. This is from michigan, a lot of crispness, and citrus and green apple characteristics. That sounds delicious. Its a nice wine and we have the pacific breeze. Yeah. And this is basically current vodka, lemonade, 41 and what you do, we have got it premixed here and i will mix one for you. What is the blue substance . Its a blue liquore and it adds a zing to things. You do a lemon wheel on the edge of the glass and theres the july 4th drink. Are people spending more money on liquor these days . They are really spending more money on wine. So wine is the seller. Its going up and its going up in terms of american consumptemperatuconsump tion and growth category. We are slowly turning into a wine drinking country. Two years ago, we became the biggest wine Drinking Company in the world. We now drink more wine than any other country there is. Cheers to that. Cheers to that, thank you very much. And great to be here. Thank you so much. Happy fourth. Absolutely. Happy fourth of july weekend. Thank you, ray aisles, food and wine magazine. We will take a break and then she stood tall against super storm sandy, but her home took a beating. Find out how americas favorite lady is doing after the break. Stay with us. And now a look at the stories coming up in the week ahead that may move the marks and impact your monies. Earnings season will kick off on monday, other big names, j. P. Morgan chase and wells fargo, big week for the bang for the. And christies is selling one of the first Apple Computers ever built. An apple 1 compute we are an estimated value of up to 500,000. And on friday, we will get the measure of wholesale inflation when we see the Producer Price index report coming out. And finally today, americas symbol of freedom, again, welcomed visitors from near and far this weekend. The statue of liberty reopened several months after super storm sandy swamped lady liberty. The damage to the 12acre island cost millions dollars repair. She looks refreshed and good for her, she greets 3. 5 million visitors every year. That will do it for us. Next week, state of real estate is buying and building on the way up. Have a great one, everybody, happy july fourth weekend and i will see you next weekend. Have a good week look at em. Living on cloud nine with that uverse wireless receiver. You see in my day, when my mom was repainting the house, you couldnt just set up a tv in the basement. I mean, come on nope. We could only watch tv in the rooms that had a tv outlet. Yeah if we wanted to watch tv someplace else, wed have to go to my aunt sallys. Have you ever sat on a plastic covered couch . [ kids cheering ] youre missing a good game over here. Those kids wouldnt have lasted one day in our shoes. [ male announcer ] add a wireless receiver. Call to get uverse tv for just 19 a month with qualifying bundles. Rethink possible. With qualifying bundles. Warm weather is upon us. Box office is ready for the summer movies. Hi everybody. Welcome to access hollywood. This is the weekend edition. Im shaun robinson. We have your front row seat. What is hot at the theaters as we present our access hollywood hollywood, guide to the stars of summer. James franco having a giant party . Hollywood House Party Guest list full of familiar faces really gets rocking and this is the end. I have james franco, seth rogue and and jonah hill play exaggerated version of themselves in comedy to test the friendship end of the world