Some breaking news on pending home sales in june. Lets head straight to the market desk where julie hyman has been one and the data. Julie weaker than estimated. 2 . Crease of two on the one hand, we have very low Mortgage Rates and on the other hand, rising prices seems to be offsetting any gains from the historically low Mortgage Rates. Coming in below estimates for the month of june. In the meantime, we see all three major averages higher. In the meantime, we have been watching apartment landlords on the real estate front. Stocks been watching like Equity Residential which came out with earnings earlier. It seems as though the issue for many of these companies is manhattan in san francisco, they are seeing greater than equityated weakness, residential cutting its forecast for the third time this year, offering a lot of incentives to renters to try and get them to rent here. Are under pressure and i just want to pair that with the pending home sales number we just got. It is interest
Going to have to find alternative ways of getting their items cheese, american chicken, nordic fish as Vladimir Putin poses imposes wide sanctions. How would that affect us here . Is it that significant . Scarlet fu has more. It is seen as not a major issue for the United States, partly because the headline sounds alarming, but the Economic Impact is perhaps less so. U. S. Agricultural exports to total are less than 1 of agricultural trade. Be exact. That is because russia has placed restrictions on food steps including pork, turkey, and beef, by imposing unjustified sanitary measures, from russian perspective, not u. S. Standards. A big plunge shortly after the financial crisis, but then a steady recovery since then. Of course, we have seen a big decline this year in 2014 as the russian sanctions took effect and the u. S. Responded to that. This is something to keep in mind. As for the europeans, it it might be more of a hit, particularly used in european farmers my see less of a mark
My producers will once again try to stump me with tonights mystery guest. All of that and more. First, let us get headlines from my radio cohost carol massar. Netflix out with its earnings after the close. The Worlds Largest Online Subscription Service had its net income more than doubled. The stock is slightly higher in the afterhours trade. In the meantime texas , instruments forecasting thirdquarter profits that may top estimates. The company is seeing demands in machinery and consumer electronics. The stock is slightly down in the afterhours trade. One stock that is jumping in the late trade is chipotle mexican grill, rising as much as 10 . They reported Second Quarter results that beat estimates. Back to you. Thank you. Another headline today is from billionaire investor bill ackman. He is the head of Pershing Square Capital Management and promising to reveal enronlike fraud at the company herbalife. Market makers anchor Erik Schatzker and Stephanie Ruhle interviewed him today. Er
Announcer chatting with you live at current. Com billpress this is the bill press show. Live on your radio and current tv. David schuster in for bill press. I have more on current. Com about john kerry and why president obama should give him the job of secretary of state and not ambassador susan rice. Nothing against ambassador susan rice. It is just that john kerry deserves it. Hes the chairman of the Senate Foreign Relations Committee and oh, by the way again without john kerry saying oh yeah, president obama, barack obama you can do the keynote speech in 2004 when youre only a state senator whos running for Senate Without that opportunity, there is no Obama Campaign in 2008. John kerry wants the job. Give it to him. Got some guy Malcolm Johnson would calls that 100 idiotic statement. Too bad, malcolm. Thats how it is. Special shout out to the folks on twitter. Dab ra and alan debra and alan and a couple of others. Honesty following us on twitter. Tweeting at bp show, on this topic,
Services. I will also show you my favorite holiday out of the season. I cry every time i see it. Television anday ads are analyzed. With aing on big pharma drug for attention deficit hyper activity disorder. All of that on this addition of money moves. And the junk market is soaring this year, exceeding its reviews 2008 peak, and a big surge in demand have a lot to do with expectations about the dead. Su keenan has the story. These loans made to risky companies, is that what we are looking at here . The real idea behind this, given tousually companies rated below investment grade. 2013 turned out to be a banner year. We are seeing unprecedented demand, due in part to the expectation of Rising Interest Rates ahead. It shattered the previous 2008 record worthies by billions, and it was fueled by borrowing that did not include typical lender productions, and what is new this year is the investor demand. They were the biggest losers in the idea income and that the fed would start unwinding