Michael mckee is here to help us break it down. Michael good news for those who hope the economy is recovering quickly. Atufacturing pmi comes in 54. 2, and the ism forecast of 53. 6. Take a look at the manufacturing new orders index, up to 61. 5 from 56. 4. At 62. 1,ction number from 57. 3. So a big increase in new orders and production that hopefully will keep the economy going. We heard Robert Kaplan this morning saying he thought things had turned around and slowed down. Manufacturers at least through part of july sam some good news part of july seeing some good news. The one thing we dont have is payroll friday, the ism employment number still comes in pretty weak. From 42. 1. If you incorporate that into your models, it might weaken a little bit what people are expecting for friday. Alix i am glad you said that because in europe, part of the conversation after the positive pmi was the employment and jobs picture doesnt look so good, but we are not quite there yet. I am wondering
You were just talking about times when its okay to sell if youve had gains on some of these big cap tech names. Yeah, im not advocating that this is a get out now moment, i just think that we have had such a good run, there was something that came out on the screen this morning that we are having the best quarter since the Fourth Quarter of 1999 and i just cant be, oh, well, so what, when was that that was a seminole top. Theres been some fantastic runs and i think that sometimes we forget why we own stocks we own stocks to create wealth there was a gentleman on just now, mr. Bailin and he said so many good points, he agrees with me on selling some of the ones that have really moved he would like to rotate into the stocks that havent moved yet. What i am saying is there is no sense for a lot of our investors who watch to rotate into something that hasnt moved when they can just sit and wait with some cash, which is cash has been so vilified and i think that i am not coming in early lik
Of sleeping. Big things ahead today, right . Youve got the exclusive with schul schultz, we cant wait for that. Its not about the triple pu on. The value of the payments business at starbucks talking about how much its worth and how important it might be here as a rival to some of these card companies. Yeah. Look, bob nardelli made a great point if you can cut out the little big, the vig that visa and mastercard get, if you can make it so someone nearing the store is able to pay for it ahead of time and own the register why should this be limited to starbucks. This is a trillion dollar market and Howard Schultz moved over from his daytoday running on starbucks to focus on this. Is it worth more than the company . Same say it is, i think its a little bit of hyperbole but well find out. So fascinating. The red carpet on the stairs behind you looks like the dolby theater like youre in the Academy Awards and youll sit next to hanks and brad pitt. Wow. I mean, if they show up if Richard She
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