Transcripts For FBC Markets Now 20131219 : comparemela.com

Transcripts For FBC Markets Now 20131219

Shows everyone is comfortable with the level of the levels for now. The Dow Jones Industrial average up fractionally 16,174 and the s p, 1808. Reaffirming the full year guidance, you think of ready wept, and some other names. And right now it is up 5 , and the near term volume, a little cautious on that. That is good news overall. Dennis chef boy are the ones from cleveland, ohio. Turning to commodities, metals are losing their luster. Gold, silver and copper on the decline. Phil flynn of Price Futures Group is in the trading pits of the cme. Gold is on track for its lowest close in three years. Phil if the fed is worried about inflation their policy of capering is failing miserably based on preciousmetals and this could be a concern. There could be a reason the stock market is not rallying. Yesterday in Ben Bernankes comments, the fed was worried they were not hitting their inflation targets and we are seeing in the gold market is the opposite. People buying stocks selling gold, running to that level, putting downward pressure on prices. When buying stocks and selling metals they are getting crushed and basically the first is when you talk about capering, we see a stronger dollar that is going to be no demand for metals and slow down momentum, that didnt happen yesterday. That is putting downward pressure on prices industrial models are not doing well either. We were supposed to stimulate the economy. It is down as well. Adam gold cant be below 12 an ounce. It is not worth pulling it out of the ground. Phil it always gets to a point, for every action is a reaction and we will see the metal dry p last time, we went below this area last july, looks like gold would never go up again or go straight down. With a cutback in production, capital spending, a decent rally. This is being driven by the shortterm concerns about the fact that it is bad but we were down here before. Adam phil flynn from Price Futures Group. Ben bernanke gave the u. S. Economy final nod of approval with that decision to dial back the Bond Buying Program and forbes media chairman steve forbes said it couldnt have come soon enough, steve forbes joins us, welcome back to markets. 10 billion is nothing lucien did have been a larger scaling back . It is not the number but the fact theyre actually scaling back. Earlier in the year they hinted at it and when markets reacted adversely, they backed off end in the fall they said we are not going to do it. They are finally doing it. Once you start they can be pushed to do it lori at a press conference yesterday the benchmark Interest Rate staying at zero indefinitely, miniscule tabor, 10 billion is all, this is just the reality we are facing for again, indefinite period of time. This is the normal here. Those that concern you . The fact that they are starting to back off is the huge thing. A thousand mile journey begins with a step, finally taken that step, a growing number of economists have recognized instead of helping the economy it hurt the economy, made it easy for the government to get credit, large corporations to get credit, and certain lines of credit for Small Business and new business which is where jobs are created. That is why these punks jobs reports, one reason the market is going up is the idea that capering, theres quantitative easing now tapering, that means more credit for people who create real jobs. Adam the fed will raise the benchmark Interest Rate. We will see Interest Rates, Mortgage Rates go up, wont that make it harder for Small Businesses in the long term to get the money they need . There was an old joke in the old soviet union, health care is free but you cant get any. In terms of what we have your credit is free or lowcost but try getting it if you are a small start up business. Regulators cracked down on banks when they make those loans. Go to local business and they will make you paper it 6 days to send a. You would like to get the credit and pay for it than have no credit at all. Lori do you think the credit situation, the health of this nations credit, start on the consumer level do you think that is an underreported story . Everyone is pointing to strong Economic Data, especially indicators moving in the right direction yet you are describing a situation where companies have access to capital. It is beginning to change. Companies have been finding alternate sources of credit at a high price so this is a step in the right direction getting normalcy back in the credit markets. Will take awhile to do it but this is just one step. Finally they are moving instead of hinting at it, maybe not. Adam too little too late . Talking asset bubbles, stocks, housing once again . Do those bubbles exist . You see very little single ownership of housing coming back. Most of its is rental and that indicates the Housing Market is skewed by what the Federal Reserve has done and there are a million starts a year, in a normal economy get 1. 5 million starts a year so we have a long way to go and once you get a normal credit market you get a normal economy so stop helping the fed. Like doctors use to believe the patients, had had strong patience for that treatment. Lori please to see the tabor commence. What else is going right for the economy . The very fact our entrepreneurial spirit is very strong we saw that in the 1970s when we had a horrific decade, and fries up to Big Companies so that is out there but unfortunately policymakers dont understand Monetary Policy or fiscal policy but that is beginning to change so only 10 billion on quantitative easing, at least moving in the right direction. Adam thank you for joining us. Lori millions of target shopperss personal data at risk following a massive data breach starting on black friday. Rich edson following the story, joins us with the latest. This is a big trouble spot. Rich the secret service has jurisdiction over crimes like this, so theyre taking the lead on this. The scheme could have hit all 1700 plus stores in the United States between november 27th and dec. Fifteenth, most of the Holiday Shopping season meaning the scheme hit 40 million credit and debit cards including name, account numbers and expiration date. The retailer says there is no breach of Online Shoppers information. As for whether this will cost targets reputation, one expert suspected wont. Customers are fairly sophisticated and understand this could happen anywhere. If any advice is being given out, one piece of advice, only do business with trusted retailers. Target is one of the most trusted retailers out there. Is an example of it could happen to anyone at any time. Rich target will spend millions figuring out what exactly happened, upgrading its Network Defense and offering Customer Services to further protect their credit. Tech expert suspect a Company Employee could have downloaded Malicious Software that spread through the Payment Systems sending the criminals credit and debit card information once used like it. Secret service and target will only say the investigation continues. Lori thank you so much. Dennis retailers are not getting the holiday boost they were hoping for. From november 1st, sales are up 2 this holiday season, less than 2. 4 shopper traffic forecasts. This is despite Stores Offering the most discounts seen since 2008. Lori wire you telling me that . Dennis the n r s standing by the forecast of 3 growth which includes instore and online shopping. The production is falling behind forecasts this year. Lori you told me you wanted boos for the holiday. Dennis there is this black sweater over it. Webmac shares of garden restaurants down big, Second Quarter earnings dropped 42 . The company which owns all of god and, long or in state cars and capital girl missed on the top and bottom lines, restaurant chain said it will sell less than off of red lobster business buckling under pressure from activist investor bairns Capital Group which pushed to spin off olive got in and red lobster brand. Telling fox business the move is, quote, incomplete and inadequate. Adam facebook running 7 million shares, Mark Zuckerberg is selling 40 million shares of its own. Lori in the meantime brazil snapping boeing. Below that the nsa scandal is plaguing american business. Adam the largest commercial realestate firms plan to shake up the work place. We will hear from the ceo and coming up. Mm. Mmhmm. [ enne revs ] [ male announcer ] oh what fun it is to ride. Get the mercedesbenz your wish list at the winter event going on now but hurry, the offers end december 31st. [ santho, ho, ho [ male announcer ] lease the 2014 glk350 f 419 a month at your local mecedesbenz dealer. [ male announcer ] lease the 2014 glk350 lifes an adventure whenou with her. And it al. But your erectile dysfunction it could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments righ you can be more confident in your ability to be ready. And the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequely or urgently. Tell your doctor about alyour medal conditions and medications, and ask if your heart is healthy enough for sexual activity. Do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. Do not drink alcol in excess with cialis. Side effects may include headache, upset stomach, layed backache or muscle ache. To avoid longterm injury, seek immediate medical help for an erection lasting more than 4 hours. If you have any suen decrease or ls in hearing or vision, or if you have any allergic reactions such as rash, hives, swelling of the lips, tongue or throat, or difficulty breathing or swallowing, stop takg cialis and get medical help right away. Ask your doctor about cialis for dai use and a 30tablet free trial. Adam social media stock sale, facebook and ceo sharing a big block of shares, 7 million to be exact, in the first secondary offering. How will these shares easy for you to say. Voting control and the company, covering this story. A big week in the event of facebook racing 4 billion in the secondary offering and tomorrow you will see a change as well but facebook announced Mark Zuckerberg will sell 40 million shares worth 4. 3 billion to pay a hefty tax bill as part of an offering of 70 million class a common shares. Mark zuckerberg wealth pay 60 million Class B Shares meaning he will not retain control of 62. 8 of the companys voting power which is a decrease from 65. 2 . Facebook as the Company Plans to sell 20 million shares. Other stockholders will sell the rest of them. Yesterdays Closing Price of 55. 57 the total offering will be worth 3. 9 billion. Facebook joins the s p 500 at the end of trading tomorrow and no doubt the timing of this sale is totally strategic, told dow jones the sale is to take advantage of that demand, mutual funds index through the s p 500 must buy the stock which serve to support the price by taking away the downside risk. Facebook proceeds from working capital and other corporate needs and taking a look at the stock, it is down 1. 9 . Facebook announcing Mark Zuckerberg giving away 18 million shares worth 1 billion to the Silicon Valley community foundation. Last december he donated 500 million to the same organization. Lets get an update on the markets with Nicole Petallides on the floor of the stock exchange. You are taking a maquette Pharmacy Companies feeling pressure from generics. Nicole taking a look at riteaid, walgreens, cvs caremark, raise their dividend yesterday and the stock hit a new high. Riteaid and walgreens pulling back and riteaid in a big way down 10 , talkedabout the fact their revenue is under pressure because of generic competition and with that it is all about the margins and they had to lower their numbers for earnings per share. We are seeing that stock down 10 as they cut their estimates for, they had seen continued sales growth but in the drug part of the business prescription drugs generics are eating into the profits. Adam the effectiveness a spying allegations affect business around a world, boeing lost on one of the most coveted emergingmarket defense contracts when the 4. 5 billion contract was awarded. Some analysts believe the reason for the break down in the decadeslong negotiations was brazils and ability to trust a u. S. Company following the organizations of nsa spying on brazils president lee shares of boeing to the hon news. Lori wells fargo on ben bernanke, the companys announcement, and spike opportunities now. First they say imitation is the highest form of flattery. We will check in with the head of the whotel brand. The parent Company Plans to stay on the cutting edge. Announcing plans in the same luxury lifestyle category. My customers can shop around see who does good work and compare costs. It doesnt usuallyork that way with heal care. But with unitedhealthcare, i get information on quality rated doctors, Treatment Options and estimates for how much ill pay. That helps me, and my guys, make better decisions. I dot like guesses with my business, and definitely not with our health. Innovations that work for you. Ats health in numbers. Unitedhealthcare. Where does the United States get most of its energy . Is it africa . The middle east . Canada . Or the u. S. . The answer is. The u. S. Most of Americas Energy comes from right here at home. Take the energy quiz. Energy lives here. 20 minutes past the hour, a growing diplomatic standoff between the u. S. And india sparking protests in new delhi. This started after Police Arrested an indian diplomat who was living and working in new york city. India is angry over this but the u. S. Attorney in new york says she was treated appropriately and even given luxuries an average american citizen would not get while in custody. Ukraines president telling the u. S. To mind your own business instead intervening in ukraines affairs, and to join the economic union, a move that will move the country farther from the United States. I called him weird last hour and Connell Mcshane didnt like it. Former nba star dennis rodman, he is weird. He says he is there to train the National Basketball team, expects to meet his new friend, north korean dictator kim jong knew who he called a very good guy despite his atrocities. This is his third trip to north korea. Those are your headlines. Back to lori and adam. Lori thank you for the update. W hotel going after the new generation of luxury travelers, changing the way the hotel chain does business. Paul james is a global brand leader. Please to welcome him, celebrating 15 years in business, nice to meet you. Your parents hit an alltime high, the stock outperforming its peers, international and hyatt, analysts, w hotel brand. Largely behind the success because you have totally captured this year under high end traveler with whatever or whenever you need it. How did you know there was pentup demand . W hotels was the first brand that was taken to market. Was not taking an old hotel but invent something new because it was new york. We see something in new york which is a High Energy Design savvy, we want to be part of something where there is an atmosphere and the mood. Lori that is a huge risk because you are depending upon younger people with more discretionary dollars. The economy has been so volatile in the last 20 years. The health of your business depends on people having extra dollars and younger people who want the lifestyle stuff, the hotel lobby to be more like a night club lounge. When you saw that and realize it is not just 12yearolds who want the place to be buzzing the people who go to ordinary hotels going why cant we be more like this so they were drawn to the living room, and what was fascinating, what was happening in new york 15 years ago has been repeated in shanghai and mumbai, a generation in charge of its life and conscious of the things it wanted to be part of. Living and not just the compartmentalized. That spirit of new york, of local content and local energy has resonated. Lori is there a backup plan in case discretionary it is of vulnerable economy around world. A Global Economy. And up and down motion, they were very sensitive in one location because the markets are about a global customer, traveling on business to do Global Business and staying and extending to stay on ledgers, this blurred between work time and playtime suddenly becomes fits in that gap wonderfully. I can in singapore and spend three days in a Business Environment and enjoy a couple days. Lori financials that you . In the most recent quarter starwood reported, this is how we measure rooted room occupancy, rose by 5 worldwide, 5. 8 in north america. Do you see the trend going . look at occupancy which is the first driver, industry in north america in 2007 numbers, Luxury Brands, tracking them 1 4 before that, the highest levels ever. Occupancy in Luxury

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