Good morning, everyone, im scott mcgrew. I saw a billboard recently that absolutely stopped me cold because its message was so spot on. Here it is San Francisco, meet your minimum wage replacement, an ipad. Hello, may i take your order, it says. It was placed there by a think tank that opposed the citys move to raise the minimum wage to 15 an hour. Though thats exactly what the city did. And i tracked down the fella behind that billboard. Hes Michael Saltsman of the employeement Institute Based in washington, d. C. And funded by big business. Now, i suspect michael and i disagree on a whole host of opinions, but not on this because this is not opinion, its fact. The fact is technology is quickly replacing workers. Not just in factories. We knew that but especially in entrylevel, lowskilled jobs. There are no toll takers on the Golden Gate Bridge theyve been replaced by fast track. Grocery store Self Checkout nothing new, and restaurants like chiles now take orders via tablet. Mcdonalds
And then europes hanging in there as well, german Business Sentiment at an 18month high. Our road map begins with the market. More history as the dow closes above 16k. Is the world getting ready for the santa rally . Gap shares falling on news on its Quarterly Results as were one week from black friday. And pandora shares fall on earnings while spotify could be worth 4 billion. People are beginning to Pay Attention to the percentage of investment people have in stocks, getting close to the levels we had in 2007. We can always look back and pick a time where it seems that was the top. Imagi margin debt is an important indicator for the top. What i like about the companies, they are levered to asia and europe. How many times does jamie dimon say we need rates higher. And now youre seeing the move to the financials and Goldman Sachs is in the financials, too. What may be good for the financials may not be good for the rest of the market, if it includes a taper tightening, a less dovish fe
Googles super secretive Research Group meets with the fda. Could bionic contact lenses be in our future . The u. S. Supreme court will hear aereo versus the networks. The Parent Companies of Major Networks say that area out aereo is stealing their content without paying for it. They use tiny antennas to send out signals online. Broadcasters are threatening to convert to cable if it does not shut down. The ceo gave us a statement saying that they remain unwavering in their confidence that the Technology Fall squarely within the law. He is not the only one who is confident. I caught up with news corp. Chairman Rupert Murdoch at an event in yet mountain view. What is the latest on aereo . We are fine. We will win he says. Jon erlichman, our senior west coast correspondent and paul kedrosky, our bloomberg contributing editor join us from san diego. What is the significance of it getting to the level of the Supreme Court . Everybody will get their day in court. I think you know what everyon
For a while it looked like we might outperform, bill. Now the dow is off 1. 6 . 267 points. We needed to add 50 if we wanted to be positive on the month. The dow is down 1. 6 . The russell is down 2. 3 . The small cap stocks are taking a big hit today. Another recent leader in this market to the up side, the transportation stocks, down sharply as well today, down 115 points. A lot of breadth across the selloffs, it is pretty indiscriminate. If you are a value investor, that should mean opportunity. But the vix popping by about three points today, at 16. 5. We havent seen a move like that in that index in quite some time. Heres how we stand right now. The dow off 263 points. 16,616 is where we are trading now. Nasdaq off 1. 9 , shedding just about 83 points on the session. 4,380 or so is the level. The s p 500 over 33, down all the way below 1,940 down to 1,937 at the moment. Lets get to it. Cnbc Heather Hughes from the sun america funds, doug walford forecommercial wealth advisors. Jo
The secret of the house im housed about, their struggles and dreams. Responsibility is huge. They have so much to leon, shattering the glass ceiling. Women in architecture for this has to be really, really good. Start september 30th on d, w. Ah, racing on to the trading floor, germanys iconic a sports car maker porsha is making its market debut today. Well have all the details on the biggest i, p o and decades here in germany, from our correspondence also coming up inflation up, Economic Growth down on the back of sorry, energy prices, germany will fall into recession. Next year, the countrys leading economic institutes. They will have live assessment of one of the experts and will go to india where the countries have the bank is discussing how the battle rising prices and the sliding value of the repeat. Im chris kolber and berlin, welcome to the program. German luxury and sports car manufacturer portion appealed aud peeled out onto the Frankfurt Stock Exchange day in the latest i. P.