Jul 27, 2018|
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
This is the financial exchange with Barry Armstrong in chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Good morning folks for a Friday in late July we have. Heck of of this story day today. Earnings extravaganza we're going to be going through earnings. By Chevron Amazon Twitter Intel chipotle Expedia Sam Adams we had FaceBook with the single largest. Market value loss in stock market history yesterday covering that. But the big news out we've been waiting for this all week second quarter GDP came out this morning and Peter. Exactly what we're expecting four point 1%. Best pace in nearly four years third best GDP report we've had since the Great Recession. What we needed totally fantastic would have been. It's incredibly positive that it was not negative to they need to talk for a living but you know that if this come and under foreign that would have been. A real disappointment. You know we can dream of five some future quarter but four point 1%. Great testing we've seen since third quarter when a fourteen. For forget five out of also with 4 o'clock all their 44% all day in this was in no no big surprise in this report. There is anchored by consumer spending and business investment which is act exactly what you wanna see after the tax cuts rated businesses have more money in their pocket consumers have more money in their pocket. As soon that moved things out Q1 GDP revised up from 2% to 2.2 percent so again like them you know like that a lot. And exports were big this might eventually jumped. Embraer shoveling the soybeans out the door the way and a Chinese. Terrorists take hold but I don't. I can't imagine that take an awful lot of soybeans to distort a four point 1%. GDP growth and correct I mean there's this isn't going to remove things I think next quarter body it was perhaps some you know single quarter action here as a lot of exports went out the door before potential terrorists came into place. The only real weak spots that we saw. In any of this private inventory declines in residential fixed investments being the main drags on the the GDP reading so far. Which. And I'm thinking about the residential investment at this point we've seen a few cracks in the foundation with. It just retail how in the housing. New home sales inventories. I use a little bit surprised that the REIT residential investment was down a little bit bubbled to fleeting a little bit people. Look around and thinking geez maybe I'm not get as much as I thought it was gonna get a year ago from my house so. And mature about an and that you Kitchener. And Manning on a new bedroom. In again and I'm just a little bit surprised by it because you see a lot of people not moving now. There are people aren't relocating they're not. Days the typical 65 year old that moved in downsizing is in doing so anymore so I I kind of expected that. Residential investment continue as they say I am a stay in the house for another ten years so I'm gonna put in. Whatever it might be man cave. New kitchen. Help up the stairs whenever it might be they again very very strong. Q2 GDP report. The big question now is can we sustain. Well and how much damage to the trade wars do it right Q3 right which. Most say tires some pretty good news yesterday out of the meeting with Joker on the European trade terrorists you you know and no actual. Resolutions came out of it but generally good meeting where trumpet and junker pretty much agreed hey we want to reduce tariffs and reduce subsidies. Which hopefully would be a good thing for good thing for that trade agreement any meaning that does not involve the president of the United States insulting other countries and nations is always a good meeting. Yes agreed. So. Moving on from GDP reports and going onto where all of that consumer spending that we saw in that Jeter he report happened. We were waiting on this Amazon's. Earnings report. Frankly incredible and this comes off the heels of a pretty disappointing FaceBook report which you know really shook the tech sector a little bit had some analysts concerned. Amazon's profit beat expectations. Too full smoked at. They just under the lead Italy beat them two for that doesn't happen with a company as big. 2.5 three billion dollars compared to 497 militants a year earlier. Three straight quarters of of a billion dollar profits for Amazon. So they earn 507 or share consensus estimates were 250 surveys they knocked the cover off the ball there. The ref that they didn't do this by increasing revenues they weren't selling a whole lot more stuff. They have just found a way to be so eat fish and with the way that they're driving this revenue. They've seen you know optimizations in their warehouse is they have seen a lot more of their revenue coming from Amazon Web Services we've talked about this over and over again. You know Amazon is not only in everyone in this rooms house and probably most people that are listening you know having Amazon packages showing up like Allen yesterday. That's a big revenue item for them but they don't generate a lot of profit on that really thin margins where they are making their money where they are really flexing their muscles. Is in the Amazon Web Services where they are. Revolutionizing. Where new companies store their data and analyze their data on sales analyst everything. Any new company that's starting up now. Is mainly looking towards Amazon and used as there place to store their data. 49% revenue growth primers on Webster's a six billion dollar business. Just renting out your space on the answer to NASA stupid question your fork or the web services looped into prime membership or are there additional fees additional. Yet completely separate is already business services some I'm sure that you could get some cloud storage for yourself personally with the year Amazon prime membership or talking about here ya. You know companies literally taking what were giant's servers in closets and and you know loading them all up to ams and have a US government and the CIA. Yeah yeah. I was actually a poke around Amazon yesterday and at ams on drive which is. Literally it same thing it's who will driver drop off your order. And they have storage for a prime member of five gigabytes which is pretty good actually to restore photos or transfer files or anything like that five gigs it's pretty good if it's looped in your membership yeah. But the other businesses are obviously paying more. Seemingly with this earnings report you know with their web service is struck by these days is like one. I feel like every time he gonna drop by telling Beaufort ten dollars will you actually look at your data. I think yeah I mean I I don't use Dropbox as much as I did two years ago. I'm just as you seem cool and ams I Kamal. Yeah the big question that I have not rams aren't they Amazon is the very clear leader in this cloud storage space that. Can Google can Microsoft do a better job competing them with them in the space they are growing faster. In this again cloud storage space which is incredibly profitable. They can they're growing faster but there lottery to make. The big area that I think Microsoft might have advantages and it is and Google for that matter is a lot of people aren't gonna want to do their business programs especially if they're retailers in order. Yeah they would be justifiably. Leery what's happening all might insider information. One for notable thing that I had in the pink elders heard in street common Wall Street Journal today. He reports that. Physical store sales at Amazon were up 16%. From a year ago so. If I am if I'm misreading it able to withstand corrected but if they're driving 16% increase. In business and whole foods that's it afterwards or pretty amazing that's exactly what their. And they're doing that did. Eight cents if you wanna return to package these days you can walk over to a whole foods and go drowned out there to seal the lockers and they get the Amazon devices on sale at all foods now so I saw a map actually that showed that in the northeast is they're also giving Amazon prime discounts to if you go shop at whole foods. They aren't all that big in the northeast straighten. I'm not sure why that probably be quiz discounted items yet discounted items of your prime membership they still exist in the northeast but there are far more substantial in other parts of the country and I'm guessing that's just it is. Members phthalates are up in the northeast path and people were shopping at whole foods before this saturated media center aims to drive and then there are so who whole foods lamb chops to 1799. A pound for prime. While there I mean what what's a big grocer down you know the southern part of the country Kroger or some than anybody yeah Dixie. I mean newscaster and a much bigger presence there is no there's no program here yeah that would explain it right so the race to a trillion. Amazon is now up to 924. Billion dollars of market capitalization. What is apple report apple reports next to. Week I believe in there currently sitting at 955. Billion dollars of market capitalization are going to be the first night. It looks like that Amazon's up about 2% right now this wasn't this wasn't good enough to bring them over the trillion market yet. And we were gonna take a quick break when we get back we're talking more about terrorists. As well as the final acts hopefully the final story about Oakley joining. Northrop poll question out there before you absolutely yeah apple question of the day at financial change should dot com is which of the following. Did you do most recently we have four choices for you today and this is based on our earnings bonanza if you will as my team to its. Number one checked FaceBook. Number two checked Twitter. Number three drink Starbucks coffee in that and I I would include. That outside which is going to the store actually liked drinking their coffee feel like cake for further beans anything starts really didn't drink that or. Did you most recently purchased an item on Amazon so far in the leads Twitter leader are not real. That's right I'll go add my vote there yet a lot of financial exchange showed dot com cast your vote let's let's see the results are. We have coming up next tariff talk as well as hopefully the final story on the necco story stay tuned the financial exchange radio network. Have a question for varying jobs. Now you can text us at 63566. And take part in the show at any time you start your text through keyword battery and join our exclusive club. This is the financial exchange radio network. If you Google passive protection planning to get more than six million results priceless to make sense of all that information. 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Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The financial exchanges all over New England to go to financial exchange showed dot com and search for the station closest to you this is the financial exchange radio network. This segment financial exchanges brought you by leader bank. With leaders who rewards account to earn an absurdly high interest rates get 1% cash back for debit purchase. An extra 10% back when you use your debt when you use your card that featured businesses. To qualify for these and other wars cult leader bank at 8776917900. That's 8776917900. Customer must meet eligibility requirements to receives numerous awards contact leader bank for complete details member FDIC. So I before it's the rest of the new surgery just did have some breaking news that the Disney fox deal has gone through shareholders have approved the 71 point three billion dollar deal. Which. To me means that we are going to see Disney put out a very directs Netflix competitor. Varies I hold it hold all of their content from Netflix. Now with this combined and Steve they've got access to mean let's think about all the shows the kind of fit into the days the Disney bucket you've got all the enemy shows that were ever on fox you've got all settles. Wound up up up up up on the body of thought Assange then. You'd get it got a lot more contact now at Disney can really packaged together. Does it really make it some people are Gannett. Cancel their Netflix subscription probably not but as someone who's out here that doesn't have either right now. And I have young kids. I might. I add might be in the corner route opt for the Disney subscription. Pedestrian you don't Simpson's. Am a guy a empire stole on that's a big money if you. But that embassy year broke them nine times canceled so yeah I mean as a top shows out there and I mean only. For decades now very successful talk shows only outlet under the Disney comedies I'm millennium I'm just gonna new shows how about like. The X-Files. Tackling or 24 prison break now. There's a ton of options there for Disney to put on their future streaming. Platform yeah that's that's always by the way they have Thomas stopped yeah I mean have you heard of the show received Disney's slurs yeah movement so that I'm. I don't know if you guys in notes but the new Star Wars which is dot awful Butler is actually on and has been on Netflix. It's dollars as a way checked justice I don't know what Disney's thinking is there muted at some sort contract with imovie are ready. Could be. And not to mention Netflix price pain big big dollars force me just don't mind death. Not a great day if you work and he fox regional sports networks are yeah. Yeah I think you're what's assess what those guys to sell those offer to sell them or. You know potentially just full them at all depends on you know can you pick up buyers right or not but you know a lot of cities were. You've had competing sports networks and you know people are getting so fed up with the PSP and premium on cable rights. But congratulations Comcast the what they drive the price up by about 32 billion I think initial Davis 52 point four billion in this most for 71 while the read so well I cast -- their job done you can question. Good work Brian Roberts so doubts about Comcast is moving on to use their pursuit of sky. Right the and that's the British. A big UK network network yeah so bill likely land them but. Crystal re waiting to see the day I'll be yeah I'll be very and see what Disney comes out here but the pricing looks like and just what exactly the package looks like. US senate quietly voted to cut tariffs on hundreds of Chinese goods the article on CNBC. Unanimously in both the senate and the house from what I'm reading here they passed these cuts to terrorist. It sounds like the basic gist here is that they are cutting terrorists on a bunch of Chinese imports that. The US doesn't produce anyway. They are effectively just taxing American consumers to protect industries that no longer exist in the United States won by an American made toaster you're out of luck. Cement American made television you can't you cannot buy an American made television at this point so. I'm guessing this was just some cleanup basically some old terrorists that were on the books that. We're no longer relevant there's nobody wants to start toaster factory here in the states and apparently these terrorist. Couldn't get that job done selects steam. Was like 16100 goods that they passed out 16100. Different products that. You know we're talking about companies that are basically operating manufacturing facilities. In China but are US companies and must have died down some pretty good lobby to get this done and a unanimous vote America like you couldn't get the US senate to unanimously vote that today is Friday and now I know and that's why it happened so quietly through this it's like their fifth page down and news cycle I had the epic unanimous voting does happen. Very often and so if you read the headline hey were reducing terrorist just know it's. Now we're talking about with drug administration very different things going on there but inching and us. The neck go. Closure. We've been talking about it all week the aid the factories closed. Really entertaining with this type of job market that we're having right now yes this was fascinating. Employers were lining up at the factory to trying to hire these people. Yet brick column by now are culturally alien in the globe today all the recent. Up there to try and hire people Kelly's roast beef and legal seafood there Roger Berkowitz who's been on the show before was one of the feud there. Lining up to like get these employers laid off. I mean with a 3.5 percent unemployment rate yeah that's what they're having to do these cases you'd jump at any opportunity higher. Dale especially in the food services industry which they're struggling higher now yeah. And you these are people who'll show up to work. Yes because they have been. And dad for years story who runs. To rigorous Kelly's roast beef is some as well you know a lot of these we workers on the speaks Spanish that don't care we have translators dent on what's good about it. There will not be an issue brought me to it's not like they're gonna just go to the factory today as it took their final check yet you like and people that are gonna line up and say a and he picking up here your personal items in your last check come work for us. Come on down here. I got my truckers here I'll drive you over the drive or the factory in you can get work and so announced put a bow on nacco we still don't know who's bought nacco from around he'll still a mystery buyer. We don't know if there's a pampered presume someone's gonna keep produced in the candy. The guy go who streak I heard him say this little lost three. I couldn't. Speak like bush just like shocked to only got a doozy one of these necco wafers and that shocked the dry chalking this in. We'll immediately get that to get that accurate at the top I can't worry about it tiger richest ever cracked the white necco Wafer under the bed covers deceive you can see the spark. No it never does that that was the great myth that supposedly kid that was. What's to say that the one great thing about nick away if you could snap the white ones and it would make a spark plug that ever but that seemed normal and even a rumor started to drives sales of the candy which. Otherwise I don't. Think people necessarily yet I don't think you want that coming up we got Wall Street watch and going into the Twitter earnings keep it tuned in here on the financial exchange area network. Life goes on FaceBook and followers on Twitter. Show breaking business news is always first right here on the financial exchange radio network. Are you having problems the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me. I've had all kinds of trouble trying to get people who can come in and do capable qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Coach AZ plumbing. 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Amidst this slew of tech earnings and in other bigger earnings reports that we got today we had some news out of Chevron and ExxonMobil Chevron mr. estimates by 31 cents on lower than expected revenues and profits of more than doubled year over year. And a little bit of pressure on their international business but they did announce a plan to buy back three billion dollars in stock. This year in the stock is about flat right now is initially premarket but that has moved back flat ExxonMobil announcing that be. Disappoint on earnings they're planning a lot of maintenance and refining business which is expected to hit profitability over the coming quarters. Stock is right now down three and a half percent or 81 dollars and 25 cents. And and a story that will dive into a little bit more detail leader BP has purchased BHP the Hilton's entire onshore US oil and gas business for ten point eight billion dollars. Take a look at what's going big or going to be don't know about stock. But right now it is also flat in trading as we speak. So Twitter shares and other big earnings reports on the heels of FaceBook and other huge social media company. Declining monthly active users. Yeah same story herself from FaceBook. Electricity to take out social networks and shoot them apparently is the Wall Street thinking so FaceBook declined by you know 19% yesterday Twitter this morning down by eighteen in a quarter percent. Let's keep in mind with Twitter. Take a look at their stock price over the last year I think it is up something like 80% year to date I mean. It was less than a year ago is a twelve dollar stock and kind. I may be wrong amount. Is pretty go back a little bit further than that but I mean if you're looking at this time last year you're looking at a sixteen dollars docket right now trading at 35 yeah. So I'm not sure what to make this I've been channel I've been. Really questioning twitters ability to you. Monetize their service for some time now I've been kind of disappointed they haven't. Need any big change this year I don't really see where it's come and I beings in other people's takes on a I'm not Twitter user I don't tweet and look at some news some other people but. I'm not bad user of the service. It's. As with FaceBook. I feel like both of these Eminem I'm on both. I he kissed. Enjoy them so much less than I did two years ago or three years ago I think a lot of you know definitely the political culture that we're and and it's just this kind it that just get so ugly to both of them and I also. Count me a contrarian I think when they went from 140 characters to toner media that was a big mistake. It I just think he lost a lot of what made Twitter special in terms of you know forcing people be really if the and it. Go back even farther the worst thing that ever happened a quarter was when they let the investment bankers. Essentially equate them with FaceBook. Yeah and united to set up such revitalization. On TV and expectations for Twitter. I don't think it's really in close to being the same platform as FaceBook I mean I mean in terms of for how why uses and users Canada. News gathering outlet for me as a producer you know lumber for shrink refreshing a Twitter. Daily on the hour in for a very frequently. I think it's a fantastic news. Device together makes excellent use of quarter cloud on are now met my. My problem is that I mean FaceBook has clearly Dennis fairy good job. Delivering ads and don't give Iran may have some serious issues and they had a ton of you know fake news all of their web sites and political issues but why can't Twitter do it. It's it's the same format your your poll you have individuals posting. Stories now say they're different types of stories in a different format. But it's it's the same type of platform it's a social media platform where individuals post about whatever is happening in advertising revenue. Is up 23%. In other 601 million dollars. Year over year in or 601 million dollars in advertising revenue for the year so that's not the end of this necessities that they but you know it it's. Just think about sort of the engagement all. You know at this hour from. Tucker I think it probably and out liar in terms of my wife is a complete Twitter addict and seems to be on the thing all day long been a nickel for a lot of people it's. You know sort of check in a couple times a day and he can just it just feels overwhelm him get into it and it's. You know you feel like you can catch up with the you know gold the last. Thirty minutes worth of tweets but you know there's another 23 and a half hours behind that and they. This feels like him a massive flood. Sometimes equivalent to sewage. Well I mean yesterday stock closed at 43 you're close to 43 box down now below 35 dollars a share we'll see what future holds for. 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FaceBook stock lost a 119. Billion dollars. Of market. Closure Thursday for a yeah 119 billion dollars in market York's upper resort Herbert alone lost fifteen billion dollars of wealth will need a period. Between 9:34 o'clock yesterday he lost. Fifteen billion dollars this was the single largest one day stock loss. In history. Ever and it wasn't even close folks close second in its. Hell in September 2000 before you were born talker but that we. Witness has put this thing called the dotcom boom and then it suddenly blew up. Intel Microsoft and apple. Where the previous record holders Intel lost nine almost 91 billion dollars back in September of twenty it will cut 2000 Microsoft. Lost eighty back in again 2000. And that apple lost a fair bit back in 2013 and trying to remember when the wind was there Apple's 212013. They didn't have phones are blown that was Steve Jobs passed might now that I was too. As longer than yours but this up and get an answer after the break it. AA. Just incredible volatility with this stock people are very very much down on its and the question is. It if if you're an investor out there right now you have to be asking yourself is it cheap. Lost 90% of its value yesterday. It's no clearly a very big move for such a large stock you don't generally see those types of moves in a single trading day. But is it is it really cheap stock right now he'd don't. Think so there's an interesting data point from dean Gallagher heard in the street analyst internally packs that if you look at. Their valuation times forward earnings. Excluding net cash. By that valuation FaceBook is that tree to the 16% discount to school's parent. Alphabet but you know school. And FaceBook still both very laughter. You know huge expectations praised him for growth. There are and I mean to give FaceBook credit they are. They were generally growing at age you know unbelievable rate they still have. What one point 45 billion. Monthly active users. Which Ann and by the way FaceBook not allowed in China. No Chinese. Don't know Chinese individuals who live in China are accessing based at this point in time and they still have a billion and half users. My real concern with FaceBook is they do one thing and one thing you know Google. Boast their revenues coming from advertising but they have these really uninteresting other offshoot that they're investing in. Amazon started themselves a retail company and now there and to all sorts of different high tech stuff. Faced just once in a cell labs. And if they've got every government in the world looking at how they sell those ads and how to disclose stuff to their customers and people are getting nervous about it. Maybe it deserved taken 19% yesterday late at what's out. But I think it's the same thing I mean they're they're just all they doing is selling ads on what's at all they're doing is they're selling ads on and Seagram. Yes a different platform and their hopefully attracting different customers those different platforms. But it's one revenue source and say it okay if there's issues with the way that they're generating that revenue on one of these services. Probably having some of the same issues on the other ones. I'll about dis respecting privacy so I don't know. You know the you look at it and the the twelve and thirteen year olds don't seem to be signing for FaceBook the way that it's. My generation was when we were sixteen and seventeen and that and that's why we all sent a prepares progression to the kids for doing it but there and instead yup they are. And a back that kept. We'll see see where terrorists are literally bake it for face I was looking up the why apple dropped in 2013 moser Thirtysomething billion yeah. Looked like it was a slow in iPhone sales and I'd wonder people or. In the mindset of did the iPhone peek at that that's. That's right and that's certainly turned out to be shortsighted and I looked at that date next said it probably it's something new would disappointing Christmas holiday season sales of something like MI com. Now. That when you know what was that like five years Bozell and iPhone 5 territory supplement that. What is no idea 2013. You know but I Steve Jobs died in non 2011 yet that is a few years before that took it well coming up next we're talking with Greg McBride from Bankrate dot com I'm millennial apparently preferring cash to stocks and what that might do to their net worth over the next thirty years. Keep tuned in here this is the financial exchange radio network. Join our brand new tax club by texting the word ferry it's a 63566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Hi this is Barry Armstrong and if you're a landlord or property manager I'm sure you've heard me talk about he rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamlined the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered there information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and will even send out annual interest payments directly to -- this call the Z deposit teen to get started at 7816418691. That's 7816418691. Or visit them online at C deposit dot net member FDIC leader bank step ahead. Getting up before the sunrise definitely makes you a morning person identified problems and you get a head start on salt and hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment peace among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called hidden cost of mutual funds call 803934. Zeros or one to get your copy today at 803934001. Or download it right now at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated ivory. Buddy it's very Armstrong and I'm joined by estate planning attorney Todd Lipsky. From the law firm of Cushing in Dolan for your legal exchange quick tip of the day we're talking about Medicaid. You're Ruble global trusts Todd. And one of the concerns that I hear from listeners is that. People are afraid of giving up control. To their trust the when they use these durable global trust. Is that in fact valid concern. It is not a valid concern but that's not a good enough answer let me help you understand why. It's not. First and foremost. Their concern is that way because they're not serving as trustee right and they can't if they want the protection. From the nursing however two things they need to remember. One. During their life. 95%. Of the things that need to be done with that trust. Will be done by them so they can still make the investment decisions talked to the financial advisors to make the investment decisions cider house yeah so. So all of this stuff can be done by them that. There's only about 5% of the time that we need a lawyer. Earth that not a lawyer the trustee to do anything is a trustee opt in one of the children idiots it is and so that's another good point that it normally it's a child. And the last of that number two reason you don't have to worry is they retain the right to remove and replace the trustee anytime they want. So they're really still what the boss as nice folks if he'd like to learn more about the top misconceptions. Regarding Medicaid durable global trusts. Call Cushing in Dolan to hold free at 866. 8485699. If you let that guide right now he simply go to their website which is. Legal exchange showed dot com legal exchange showed dot com or call them at all Parikh. 866. 8485699. The financial exchanges live on FaceBook and YouTube watch Berrian chug discuss the issues of the day and see which one smiles at the most. Days as the financial exchange radio network. We're joined now by Greg McBride from Bankrate dot com the article. Know when meals prefer cash over stocks. Could cost them millions I would imagine that could cost the rest of us millions two of the whales don't invest in the stock market ever Greg thanks for coming on. They. So what are we actually find in the study were colonials actually not investing in the stock market or did they just say they weren't investing in the stock market. Could well mean they they say that they would not or rather question that we post this for money that you would need for more than ten years. Which are preferred way to invest that money. And you know the topping answer appropriately so for most adults was the stock market colonials were the exception though not only did they prefer cash it was by pretty wide margin. Over the stock market and this is consistent with what we've seen over the last several years we've been serving that's for about seven or eight years now. And Ted that this is very consistent with speech seen in previous results beat millennium system have not warmed to the stock market despite the nine plus your bull market. I mean I suppose you know coming of age and seeing your parents you know just get destroyed in the 08 financial crisis. Can do that to you but specifically with tenure plus money that's that's pretty shocking and horrifying. What happens in practice I mean a lot of millennial these days have for a one K plans that's where a lot of this ten plus. Your money is going are we seeing them actually following through on what they're saying about not investing in the stock market. Well thank god for auto enrollment at a world do you automatically default new employees into things like target retirement plans that would be heavily tilted toward equities for those that are you know early in their career. Because as you know. Based on these results and you know I've I've. Seeing this just in a lot of conversations of presentation that given the money a lot of insist there is a very tangible. Aversion to the stock market into the net you know like. Had a pretty lengthy discussion most of bill millennial the other day who was. Yelp to look at the stock market is gambling they're really not that crypto currency was you know was was was you know. Where to put the money to the future because that was the wave of the future you know so it's. You know it's it's definitely counter to. You know what we've seen in in good markets have a decades past. And one of the things I've found helpful list. So in a chart of what the stock markets down over fifteen year period. You know kind of put in context that just terrifying drops to it like the financial crisis like the dot com bust. That'd be just to hang on he and better yet get the discipline to continue investing you were alternately rewarded for your patience. Just about every forty year period bid is the right thing to do grace Peter Howe and a couple things that really astonished me in your really important Bankrate. That half of those aged eighteen to 29 say they're better off financially than their parents at the same age that seems and surprisingly high and yet. Just a quarter of more and eels fields of their savings are on track for a secure retirement and what you make of those figures. Well I mean we do see greater inclination towards savings coming from I think a lot that stems from Gallup Michaels thought a moment ago where. Coming of age during the financial crisis. Witnessing what happened appearance. And you know and so we've seen greater inclination towards savings and corporate aversion towards that. Among the land deals so they got the memo on the importance of things like emergency savings. And even when it comes to retirement savings they're saving and an earlier age bands that are predecessor preceding generations. But it. The only boat I have to take is just how that money being invested if there's you know he stirred but what's going to be the biggest retirement savings Burton in history. You're not gonna get that Netscape by hunkering down it's safe haven investment chicken and need to compound. Higher returns account from the stock market over a period of decades in order to accumulate what you need vehicles years. Yeah and you got that great question you put everybody mystery to invest money wouldn't need for ten years or more 32% of us say stocks but 24% say cash. 22% real estate 9% gold. Are precious metals in the that 2% who say the place I would put money it would need for ten years or more. Is bitcoin or crypto currency here the the wild man of this they also like roller coasters and not wearing seatbelts. And if that fortunately it was only 2% and it's somewhat reassuringly even among millennial. It's skewed a little bit higher but it was still low to mid single digits so we out you know good to see that at least in large numbers you know people not gone off the reservation. On the carpet currently. Damn what Greg really appreciate coming on very interesting article about. The younger generation's attitudes towards the stock market and how that may or may not play out of the coming decades Greg McBride of Bankrate dot com thank you very much have a nice weekend. Thank rhetoric. We're gonna add it to the list of things ruined by Amylin meals yeah this stock market. You know this article accurately points out that if they actually if the generation actually follow through with this and didn't invest this app market or be very bad for them. To be bad for the rest of us to. I mean the whole idea is this of the stock market is that. To keep it going people buy into it that's that's how it continues to increase by an average of 810% a year. But. The auto enrollment in the 401K plans are helping apparently and I'm not sure if people actually see the Serb man see the answers but I don't know that people actually follow through this and surveillance help people live July tears in my body your friends carry a lot of cash and not like cash cash but you know sit on check and -- best. Yeah I mean I don't fewer earned and vested share. Absolutely and not that much because of their current jobs situation. Word for one K isn't offered oddly enough the yeah. We grew up during the financial crisis and I think that is kind of a subconscious factor for. Is is what you saw all that money lost when crash happened. Yeah and I get it for you for the all those saving for a house in the next couple years or get things like that day completely agreed that sad. If they miss out on returns for for now as it does the justice invest. Now now that's an out the guy special especially with that retirement mine that you'll be touching for a very. Very long time testing you could that in 2009 is just don't open any brokerage statement to let it ride it. Close your eyes and walk in the dark rate cut. Digging quick look at markets. All three major indices down right now Dow down about six points S&P down about six and a half NASDAQ down about 46 points that's all the time that we have to this hour the financial exchange. Stay tuned here as we come back for the next hour. Chipotle talking about chipotle are housing market. It's not too late to get a great grade and home mortgage leader bank specializes in a wide variety of purchase and refinance loans that some of the most competitive rates in New England a dedicated loan officer will work with you every step of the way and their local decision making means a faster closing call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead. According to consumer reports nearly 15 of available mutual funds have raised their expenses over the past five years a mutual fund with higher expenses doesn't mean you'll get a higher return Armstrong advisory group has written a free guide to help you understand these fees so call 803934001. And get yours today call 803934001. Or downloaded right now and Armstrong advisory dot com securities are which are securities America incorporated an advisory services are protester is America advisors incorporated member of an recipe see Barry Armstrong represented a strong advisory group the securities America companies are unaffiliated. As we get older estate planning becomes that much more important hi this is Todd let's ga partner with cursing and Dolan and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cares for more than thirty years with their state planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trust and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's online rent collection product called Z rent it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks most landlords used local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank acquired does he ran technology Obama called this he ran team at 7816418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 7816418691781641. Specifically the costs of all morning different kinds of mutual funds Mike. Let's first talk about the differences between load in no load funds what to those terms actually mean. Yes when you talk about a load you're talking about compensating somewhat for the sale of that mutual fund. There are a lot of different options when it comes to these but. Typically the most common is just an upfront load that you and paint the advisors so if you put 101000 dollars in to a mutual fund that. Mutual fund may charge you 45%. Bank and gets paid to the eyes. In a no load fund you don't necessarily have that upfront fee but you still do not operating expenses each year just because the fund has paid to employees and so force you do it's area let's say just go to fidelity dot com and pick up one of their mutual funds. You might not be compensating. An advisor sales person for recommending that bond but fidelity has their expense is that they are running in the air still charging new. It's all detailed and expense ratio that you every year what is a typical expense ratio on a mutual fund these days I would really hesitate to give a typical because it varies so much UNC funds as low as. Three basis points all the way up to way over 1% so there is a huge range of mutual fund expenses. As Mike said there's a lot to know about mutual fund expenses and what you are actually paying it fortunately the Armstrong advisory group is put together a great new guide called hidden cost of mutual funds. All you have to do to get it is call 800. 3934001. Or go to Armstrong advisory dot com once again that number 80393. 4001. Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Precious metals are Smart meaningful investment one ounce and 110 down silver and gold bullion coins are now available at all leader bank locations bank locally and buy your gold locally it just makes sense of leader bank a call and learn more call 8776917900. Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency god guaranteed by the bank and may go down in value leader bank. A step ahead getting up before the sunrise definitely makes you a morning person you identify problems and you get a head start on salt -- them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding the fees associated with mutual funds there are management fees twelve B one fees and reinvestment fees among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today that's 803934001. Or download it right now at Armstrong advisory dot com. Security suffered through securities America incorporated member finreg SAP C and advisory services are for their securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Time for bank the pays you with liter maximum reward accounts can 1% cash back with a debit purchases and an extra 10% back when you user carted featured businesses to qualify for these and other awards using statements direct deposit 1000 dollars and make a debit transactions each month to learn more call 8776917900. Or visit leader bank dot com minimum to open and earned annual percentage yield ten dollars mass residents only he's may reduce earnings rate subject to change without notice member FTSE. Leader bank a step ahead hi this is very Armstrong and if your landlord or property manager I'm sure you've heard me talk about Z rent leader banks tremendous on line rent collection program I'm excited to tell you now about their brand new product called Z deposit this is another free program which streamline the opening of tenant security deposit accounts three totally digital experience with C deposit landlords can open an account online invite tenants to entered their information and manage all their security deposits Z deposit also automate many of the compliance headaches for landlords such as generating account disclosure forms and even send out annual interest payments directly to attendants -- called the Z deposit team to get started at 7816418691. That's 7816418691. Or visit them online and see deposit dot net member FDIC leader bank a step ahead. This is the financial exchange with Barry Armstrong in chunks of you're exclusive look at business and financial news affecting your day your city your world. Stay informed. End up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the very Armstrong and chuck Exxon. Good morning welcome back to financial exchange we have a Friday your earnings extravaganza today which reports from everyone Chevron Amazon Twitter intelligence hole play Expedia Sam had a Starbucks all coming up. We had a GDP report that came out this morning at four point 1% right in line. Mike archer computer how to pursue with you today and one of the items in that GDP report that showed. Overall fantastic report four point 1% exactly where we want to be. Hopefully we see some state sustainability Q1 was also revised up to 2.2 percent so overall fantastic. He'd GDP report. One area that seemed to show a little bit of a crack in the foundation. Was residential spending. And we're seeing some. Slight signs here are just. Really nothing in the data but speaking with real estate agents some cracks in the foundation in terms of the real estate market still you know firing on all cylinders here. Diana Oleg interest to report and CNBC it's sort of like a Yogi Berra thing what of housing it's so expensive that nobody bought an anymore. We yes sort of seems like it's happening BC sales of both. New and existing homes fell in June and infect the Adam. Lowest level of seals for newly built homes since last year. Mortgage applications are slightly down now it. You know we don't get me wrong you're still having these scenarios where you're seeing offers over asking price spread this time last year you would mr. home and you'd. You know have 1015. Offers above the asking you sold a week and it's Alan in a week it's seems. That with interest rates on the move up. We if some international buyers dropping out which tool would get to why that might be happening in a bit. That there. Is might not be as rosy as things seem right now after a seller on the marketplace. No absolutely and you know it's. I'm in a situation where three kids who grown up basically out of house and looking around and thinking you know about downsizing but what wounds open. So worlds and there's just nothing red you wanna buy at. What feels like. Any kind of reasonable price and then you know it's a constantly look at this house and of itself for big pile of money but then I got to move somewhere else and if I moved to Tulsa or Jefferson City had you know have the nicest house in town. Thanks Newton Massachusetts but it is it's a it's a frustrating situation is also another CNBC report about international buyers. Even to be dropping out of the market and you know that's been. Certainly were on the western suburbs. Who of Boston Wellesley Massachusetts Brookline in Lexington. Arlington Newton. You know the the influx of Chinese buyers especially paying cash to get their kids into schools towns of great school systems. That doesn't seem to be slowing but this report from CNBC a lot of you know retreat by international buyers could have something to do with the you know who in the White House. That and I think act currency is very big thing yours a US dollar has just appreciated so much at this point that if you're Chinese via buyer taking you on. Which has very you know pretty recently taken a pretty big hit and converting it to dollars to go and I that American real estate. Because you're terrified of fluctuations in the Chinese who want. It's a lot more difficult to do that now we saw a drop so the volume of US home sales between April of seventeen in march of eighteen. There were made to international buyers dropped by 21%. Compared to the year prior. That's a significant drop and that that is going to be felt in the market here we are feeling that this year with those international buyers especially recently. Dropping panel that. Good if you're a buyer you know that that's really frustrating right you know you when you're going out there putting offers on places and your offer might have been accepted but there was another you know offer with all cash no contingencies. It's frustrating especially when it happens have a dozen times I'm guessing that it's not going to be occurring quite as frequently as we look at the next six months in the housing market investing in the seat. China 15% of all international. Home purchases in the US are from Chinese tires candidate number two you'd expect that 10% dip and India. Is up there in the top five China can't attack candidate India Mexico United Kingdom. Accounting for those five countries account for nearly half the dollar volume of sales to international buyers and it was very interesting to see India on that list. Yeah asked. The back technology wealth yeah Smart plots and well IING. You know a lot of Indians were for American companies that have dollars spent here. And then moving on to more earnings reports so Starbucks. We've been a little bit nervous about Starbucks and it. You know PR bit of a nightmare this quarter. With the injuries the issues with old racial issues in their stores. They shut down for sensitivity training for a day I'll that's right. But by and large. This earnings report at a Starbucks is. Pretty darn good news I guess I'm not the only one that's that's shopping here relentlessly and that training happened in the past court to do what they shut down completely yet. That's kind of impressive so total sales jump eleven and a half percent to six point 31 billion dollars. They added new customers for the loyalty program and those people spent more during the thirteen weeks. The active members. Up 14%. From a year ago the tour so that's the total on line user base in people with the app. Up to fifteen point one million user. It's yet not much hippy the sort of start with Starbucks boycott you know gonna duck answer but Mike their place accused Cumberland farms. Dummies is good good good price could cut the bra for the right price. Are you guys seeing this whole anybody can come at a Starbucks in go to the best term. Are you seeing like the you know heroin homeless. Nightmare that was predicted worse. I I honestly do not NATO because when I go to interest our votes or ordered. What I'm getting. It's their it's sitting there waiting for me. Open door step there rabbit walk out and went in and now within thirty seconds I don't and I'm only people understand like how quick it is with Starbucks mobile it is truly incredible and the other day I forgot to actually press order when I went there so I was frustrated wasn't sitting there for me. Press sort of iPhone is I had food and drink is there like 45 seconds later it's it's gone to the point where it's faster than McDonald's and how often have a guy from Europe mobile order incorrect never in a single and since they ever that's the the only thing that Dave got wrong for me is they forgot to add the milk or something like that but I just it's a quick ask. Not a fixed pretty quickly you know McDonald's donkeys they've all got the same thing. They have mobile apps. And they need to do better as driving their customers to India's. Start seeing. Yeah I don't use them overlap they spend more money come more often public because they have a fantastic for awards program of the perks are rumbling analysts is talking about the other day. You know when you reach a 125 stars after X amount of dollars you spent I don't know what that adds up to Mike but. You get a free item of what ever you want not like a small coffee ears open when everyone it's free yet and I mean let's let's be fair to everyone thinks that that's not a good deal. Small coffee service costs. Chu 53 bucks us and Europe. But yet those are all grown as a group and TA and it's it's basically that but I don't know yes I could go in there in debt you old anti pumpkin spice latte this fall whenever I have read. But I'm saying for a price that's like a bad deal is six box 650 supple like after that and I could get that for free. Looking looking forward at Starbucks yeah they're going to continue to drive field that mobile app which I think will help them here domestically the big. It what their entire growth scenario is hinging upon is their ability to execute each. They really are trying to ramp things up overseas. And and. And with this with the trade situation going on I don't really see that you know Starbucks having retail locations in China would be an issue but. You just don't know it's it's a little bit of a nerve wracking time to have so much of your business growth be dependent on expansion into one you think while the Third World countries where people go Brian what's the thing they smashed the windows and McDonald's after our IP next great right behind in just a quick text here commitment from the seven at one with my neighbor and Starbucks with my American Express card again and an extra 15% off and I've seen Starbucks for wards across you know several on credit card rewards programs to use an arm vault and then as well. So it is still there grossly expensive I admit that I am they had at Parsons and yet they did. I am an addict still spent my two week I'll I'll Holbrooke often how often you go learn. I've probably averaged three times a week the CI east ago three to four to advisory but I got that sounded maybe once we usually don't like aside Saturday or Sunday mornings ago the busier I am the more and go which are just strain. Is an Edwards Austin. I need to just. On line for a second run to Starbucks and yet you know. Have been pulled lower by it's good stress level it's good stuff it is. Now I am burning with curiosity about the poll. The FaceBook I would us Starbucks Amazon poll yes so we have a poll question today on financial change showed dot com in regards to. They're earning season bonanza fuel and extravagance extravaganza wants in the liberation tambourine. It's amber Marie all loser of earnings I don't know which of the following. Did you do you most recently we fortress has treated it checked FaceBook. Check Twitter drink Starbucks coffee. And that includes if you have a copper. And he coffee grinds or anything like that to snap to messrs. -- you disputed Georgia have bought someone could have bought it for hints yes exactly. Or for the fourth choice perches in item on Amazon and so far. 32% of Burleson ownership purchase an item on Amazon most recently Mets in first place. And are tied for second places check Twitter and FaceBook and at last it is. Drink Starbucks at. Never done any of these activities I wanna know if anyone out there has never checked FaceBook Twitter drank a Starbucks coffee. Are purchasing items on Amazon. I am genuinely impressed when I hear about Texas at 63566. That's impressive. If you've never Texas before text areas the first were there to get into our in tort expert what impresses you more I would say that. FaceBook would be of them thing that. Impresses me the most for staying often guess he had to give him what everybody has a FaceBook now not quite that there's a or at least people I concede the FaceBook and that's where I'd be surprised if someone had never. Sipped a start stop exit feel like if you. Go to people's houses they have courier at the problems occasionally ants are stuff here and now would be disproportionately total weight room you know does it take up machine there or whatever and the Starbucks idea I love this person knows how to text. Doesn't go on social right it doesn't show up on him and credit to wonder if they go postal on three press like 63 times he and I want to make an anti. Richard Quick break we come back to pull layer earnings. And the biggest companies out they seem to just be getting bigger and bigger what's going on there state to the financial exchange radio network. Tony this very good charts graphs and numbers all day and just listen to us there's the financial exchange with Barry Armstrong and chuck signed up on the financial exchange radio network it. According to consumer reports nearly 15. Of all available mutual funds have raised their expenses over the last five years Titus is very Armstrong do you know what you're paying for your mutual funds and understand the difference between ongoing yearly fees and transaction fees that costs of mutual funds eating into your returns which is one reason why some funds end up with sub par performance you may own funds that have higher expenses but that doesn't mean you'll get a higher return the Armstrong advisory group has written a free guide called hidden costs of mutual funds to help you make sense of these fees so call now 803934001. And get your copy today understand the true cost of your investments don't get surprised by hidden please call 803934001. Or download the guide right now at Armstrong advisory dot. On securities offered to securities America incorporated members in as the PC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group and the securities and are two companies are unaffiliated. If you're landlord looking to find an easier way to collect rent payment and you need to hear about leader bank's online rent collection product called zebra and it's a great service landlord allowing them to collect tenants rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and still number member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 7816418691. That 7816418691. Or visit C Rand dot net stopped chasing down late payments and running the bank to make your deposits at your bank UNC were to its list of offerings. Visit he Rand dot net or call 7816418691. For more information that 7816418691716418691. Or zero rent dot net as we get older. State plane becomes that much more important hi this is Todd let's ga partner with cursing and all and and if you have loved ones or friends that may need nursing home care. You need to protect yourselves and your assets the best way to do this is through a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away and you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their estate planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trusts this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trust and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices cult easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous. They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. Each six to. 1190 that 781. 86201190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. We wanna hear from. Thanks Steward diaries 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Welcome back to the financial exchange its Peter and Mike beam chuck and Barry. Amber gonna pick up with trivia. Today was 73 years ago today that Winston Churchill resigned as the prime minister the United Kingdom after his party the conservatives. Last of the labor party 73 years ago so our Winston Churchill trivia question today is in which city. Was Winston Churchill's mother Jenny born. And if you got that answer text it to 63566. If it's your first time texting but in the word Berry BE RRY. And what are we gonna take the third into my third correct answer come Thursday direct answer to who we're was Winston Churchill's mother born. In honor of four to his resignation did come back for one more stint as prime minister. Retirement Netflix the crown John Lithgow as Winston Churchill I heard of those agree chosen it is one of the great all time performances and. And archery contest is brought to you by Arnold's lobster clams are located on US route six in east in Massachusetts Arnold has a great selection including lobster rolls award winning fried clams and terrific onion rings. They're lead chest Susie is when the Cape Cod stuff clam contest for the third year in a row. Call 5082552575. Or visit them online at Arnold's restaurant dot com for more information. Before it gets. Who's the next item in the stacked to have yet to some of these texts I commend yeah pretty go once and that's good answers for went right funny people listening to you record that we met that we had. Any doubt about the brainpower and humor where it was and yeah it's regarding our poll question F financial change show. Dot com out of 50 hi I'm 44 I don't have either FaceBook nor Twitter not a coffee drinker and I've never purchase anything on Amazon. So there's one impressed. Genuinely very impressed number one out of this went seven I've never done any of those things and I still camera checks put them in a mumble licked the envelope. In put in the mail. Out of the 603 no Twitter no FaceBook no Smartphone desktop computer at home in I'm happy as hell about it. There was a one that you found my. That's the best one from two grocery. Checking FaceBook and ordering something on ams on those advertise on FaceBook while sitting in a Starbucks I think she did Diego say -- the question you've done all of them most recently while a thoughts anybody tweeted about it after I think that's between the purchase it perfect. TI if you haven't got on yet financial exchange showed dot com fill out our poll which of the following did you do most recently checked FaceBook check Twitter drink Starbucks coffee or purchase an item on Amazon and we got a lot of people that never done Needham and so there to pivot to pull away. There shares this morning pull up their stock price but how they do honor today in the say a pretty good story. Yet there was it will earlier today there were up by 7%. And on an earnings beat and a lot of it was a at this part of it the price of avocados was one of the made guacamole so the. Two guys millennial was got over it. I drive idol ever arrested in August attackers still in seven comic out of the day I thought you know and adapt for the rest of us the food costs were down. Yet revenue up eight point 3%. And the the concert and 32 point 6% which is amazing to think. You know of all the revenue coming in the door at chipotle less than a third is going out to pay for. The actual food. You know labor cooking at market and a and they are. Big driver growth delivery sales quadrupled I don't know behavior had Tripoli delivered to him while trying to advisory group. They do a grim reality and we have a nice catering package probably half stock is up right now is up earlier up 7% it's up 5% right now. Really has had a pretty tremendous turnaround for you know obviously we've been kind of rag on chipotle now it seems like for two years. Most resilient people say yeah I mean haven't gotten Danny's body you. Deathly ill and long wildness progress it is is it good news story for the logical. I get get made fun of by people some people thought like don't like I. I think it's really feel terrible afterwards. There's I had that read that I orderly or it zapped after you lifting I don't mind. This kid this is still cautious child securities in my stomach right now I have to carry this weight around the rest of the day never get these so three pass. No which is the time doesn't that just I have gotten two of Maria just. I think you can taste in me when you get to me all you can taste is the guacamole and salsa anyway so like. You know go with the two of what you can tell yourself that these so freaked us is healthy so best and so we I rate seems like ally but that. Yeah that that's another company about a and it's improving their mobile ordering I don't know if you've experienced that yeah Mike. Like Starbucks I have nine dodge pulled in the oval order about it online I've gone there website and ordered and it was a pretty seamless yeah process but it's. Again I think that's a very big move master companies they can get. When you download their wrapped up and you know send notifications Dowd and you know better understand when these people are buying stuff from them all of that really helps them. Not only helps drive sales. But it helps them understand their customers if you know understand your customer better you can do a better job delivering the products that they want to them so. And I am yeah hey good news that poll we'll see workers the next few quarters if they're able to prevent any oil from getting sick. Progress. So are you know bit negative at times. Good story out of the wall Streeter interesting story at orchard journal today. Biggest companies keep on getting beer and this actress for mentioned the Wall Street Journal is arguing that. The reason this is happening is the biggest companies invest allow hundreds of millions of dollars into. Proprietary technology and that really allows him to drive a boat around their business and nobody else can compete with. Google FaceBook Amazon and apple General Motors Nissan Pfizer Roche some of the companies that are doing this really investing in their ninety they are an. In a little bit torn on this and I don't know that it's always the best way to go for companies that don't specialize but. I'm on the side we'll get on the other side slightly wider ring true image to radio network. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the markets every day beginning at ten on the financial exchange radio network. As we get older estate planning becomes that much more important Titus is Todd let's ga partner with cursing and all and and if you have loved ones or friends that may need nursing home care. You need to protect your selves and your assets the best way to do this is drew a trust. But there's a lot of misinformation out there about losing control and having to ask permission from your trusty this is simply not true you don't need to give everything away. And you can stay in control at Cushing and Dolan we've been helping families like cures for more than thirty years with their estate planning needs we've got a new guide out this month called the top misconceptions about Medicaid irrevocable trust this guy details more than thirty of the most common misconceptions. About these Medicaid irrevocable trusts and you can get your free copy today by calling 866848. 5699. That's 866. Eight or 85699. Or you can download it right now on our website at legal exchange showed dot com that's legal exchange show dot com. Getting up before the sun rise definitely makes you a morning person identified problems and you get a head start on salt in them hi this is very Armstrong I'm up early every day helping advise my clients about their problems one of which can be understanding that fees associated with mutual funds their arm management fees twelve B one fees and reinvestment peace among others they can have a negative effect on your portfolio let my firm help you make sense of these bees by requesting our free guide it's called the hidden cost of mutual funds call 803934001. To get your copy today -- 803934001. Or download it right now at Armstrong advisory dot com. Securities offering to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Are you having problems the block sink or drain. What don't we Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. Which is fair competitive prices. Cold easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous. They will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. Eat six to 119781. 8621190. Or he can visit them online at easy combing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi this is chuck and Mike from the financial exchange and today we're talking about the hidden costs of mutual funds. And Michael Lotta times people look at the sales load they Payer they look at the expense ratio on a fund. But they don't realize there are other expenses built into on what kind of expenses do we see in addition to the once people know well. The biggest one that usually gets left out is something around the trading costs of mutual funds. And a few years ago the SEC pretty much came out and told the mutual fund companies that. Because these costs are so complicated. To calculate. They are not action required to disclose them in the operating expenses so if you look at a fund that trades a lot. And by that I mean turning over the portfolio maybe a hundred or 200% a year. Those costs can be significant. Are there any types of funds that typically have lower turn over rates that don't trade is much so that he can get a better deal absolutely I mean when you look at. Basics of trading how much 100 vs another. Usually an index fund trades a lot less than actively managed mutual funds are for instance you can buy an index fund. That just replicate the S&P 500 that's gonna have a lot less turnover than an actively manage large cap mutual fund in case. Folks beyond just the headline numbers there are other expenses associated with owning mutual funds and they are strong advisory group has put together a guide on these expenses. Titled hidden cost of mutual funds all you have to do to get it is call 800. 3934001. Or you can go to Armstrong advisory dot com once again the title is the hidden costs of mutual funds in you can get it by calling 800. 393. 4001. They're going to Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are there securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Marion Jones no finances. If you care about your finances it's good for you know Barrington judge. Believe me here for the financial exchange a look financial exchange revealing them work. Welcome back to France exchange we are very grateful that you're spending your Friday morning when us. And this segment is brought to us by easy plumbing. Toilets that once stop running clogged sinks leaky shower heads. These are all common problems for homeowners and if you're dealing with any of these you need a fast reliable first class service provider. To fix the issues and get it done right we recommend you call easy plumbing at 781862119. B they'll fix it fast they'll fix it right. Like their names says they'll make it easy. 71862119. To your visit easy plumbing MA dot com for more information Massachusetts master license number one a 18 tree. In the last segment we did trivia guy. 73 years ago today Winston Churchill resigned as the British prime minister. Following his party's electoral defeat. In question which a lot of ranchers had practices this is a tough question but in which city. Was Winston Churchill's mother board and the answer was in New York City. Portland weather like what are first right answer. Excellent beautiful town so paying him show is. And why I don't why would ever believe in them but Joseph added we recommend. Head down east him asked Jesus because you have one. A gift certificate to go visit Arnold's lobster and clam bar located on US route six in east ham Massachusetts. Susie they're lead chef won the Cape Cod stuffed clam contest for the third year in a row since it's just amazing. Get down Arnold's and check out their great prove yourself call 5082552575. Is the on line at Arnold restaurant tack convert just make your way to emirates six there's no traffic today hit it. What it's. You're not supposed to be bald faced lie on and on live radio. It is crystal clear derive an object to get at the end of the month in July. So we were talking before the bridge. If I were sitting in Cape Cod traffic right now for a pretext or bad pullover you're sitting in the actual Travis taxpayers don't don't act if you're doing ninety's taxed where he'll Peter to sixth street you. So we're talking about these companies that are spending hundreds of millions dollars in their proprietary technology and building boats their businesses what's your take on this Peter. Well as we're tenement sort of you know acquire Google FaceBook Amazon and apple you know getting bigger bigger bigger all the time. And I this idea that it's they are investing in building their own technology. To sort of cement and extend. They're competitive advantages of why this rings totally true to me is. Think out. You ward daily life think or how much how often do you feel like you were doing battle wins. Microsoft products or doing battle with the salesforce. Or sort of forcing. Yourself to conform to the ways other people think you wanna run your business as opposed to you know if I could design my own. Outlook email on my own systems for you know tracking. Clients and client leads I feel like I would be a much happier. Arguably more successful person and it seems like it have that a large scale. Companies like Google FaceBook Amazon and Pfizer Roche. General Motors Nissan and they're figuring that out there building the systems that work for them and drive up their profits. Yeah I guess it all comes down to execution array this is just a one person's story back. I I used to work for a news. Large Boston based company domain name mrs. exercise and it seemed like they made themselves famous for investing millions of dollars into this on to their own proprietary technology that you know they. Hoard these dollars entered this is not technology company is do they were named completely different it's a financial business. And frequently it seemed to me that they would pour millions of dollars into a technology. Only to find out that there was a tech company that was producing a very similar product that would have worked their business just fine. And then they just end up implementing that other tech and tech companies product because they realize well action that one can do club when when we created here. Why not just go with outlets that. So I guess it all does come down to execution but I see a lot of these non tech companies getting into developing their own technology and sometimes ask. Why. You do what you're good that have somebody austere technology for you focus on if it if you are. A car company. It don't go invest all of your money and building your own proprietary technology for your workers go and have some deals to that four but. Clearly Google and FaceBook have gotten it right so. I don't know I'm not sure about that story. According to consumer reports nearly 15 available mutual funds have raised their expenses over the past five years. Is Mike harsh on do you know what you're paying for your mutual funds and understand the difference between the ongoing yearly fees in the transaction fees. The cost mutual funds eat into your returns which is one reason why some funds. And up with sub par performance you may own funds that have higher expenses but that doesn't mean you're necessarily get higher return. The Armstrong advisory group has written a free guide called the hidden cost of mutual funds to help you make some sense of these fees to call 800. 3934001. And get your copy today understand the true cost of your investments. And don't get surprised by hidden fees call 803934001. Or to download the guide right now go to Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. So we see Newsday BP buying BHP's shale assets for. More than ten billion dollars BP go on and at Texas in a big way. No longer beyond petroleum their vector petroleum and the thing that might I most love about this story is. You know we've all overpaid for Starbucks copier Credo to put it that BHP Billiton and overpaying by twenty billion dollars had been twenty billion dollar bath. They took on these oil and gas assets that they now have unloaded on BP and it looks like awfully Smart bottom fishing by BP. Yeah it appears that way. You know BP is in the middle of this just in there trying to fire on all cylinders into terms of their growth prospects and yeah they're not alone everyone's trying to pick up assets left straighten sinner as you know which have seen oil prices bounced back up. But I think there are probably a lot of these types of companies at me ages to real dad acquisitions. Back when oil was up over a hundred bucks a bare all and you know people were just gobbling stuff up. I think there's going to be more of these transactions coming through as you know smaller companies like BHP just. Hands quite deal with the big acquisitions that they made in the past and companies like BP with atomic Asher book ending problem four point six billion barrels of proven resources for BP's asset base of that's a lot of oil left to pump out of the ground most serves he has. Intel. He had a pretty strong quarter in terms of profits again you know earnings extravaganza today on financial exchange. Pretty impressive results in the second quarter but they are concerned about the rule out of there. A bunch of newer chips that they're producing and the earnings for the current quarter was not good enough for investors that stock is down nearly seven and a half percent this morning trading. While not like that day in. Was it 2000 when they lost ninety billion dollars yeah. Let's hope that doesn't happen yet the ten nanometer. Chips are to sort of the Tesla model five of chips apparently but. Things that I found a little surprising in this report is. They're CFO. Says that they're not worried about. The Chinese terror war affecting. Until sales if I were Intel I'd be booze and sleep every night about. You know word is this I'll go in terms of Chinese made electronics with the Intel chips in them and you know trade war between US and China. They might be. Telling us that they're not concerned about it but you can be darn sure that in their seat Ian and their executive meetings they're pretty worried about what's gone on with trade rumors that China is this there's a lot of issues this company right now if your call. I mean pronounce his name wrong but former CEO. Kurz an inch or resign after violating company policy with a co you know that relationship with a coworker. And the board just hasn't really given us any hints as to who the replacement going to be. And I mean keep in mind Syrian we've got to stop it's down seven and a half percent right now. They're up 50% of the last twelve months so we're given a little bit of that back today but overall pretty strong performance out of Intel. We are going to jump into a quick break when we come back Paula Monica from CNN money's going to be talking to us about the food delivery business and who is cleaning up and that's based. Stay tuned to the financial exchange radio network. It's Marian Cilic in the financial exchange on the financial exchange radio network if you Google passive protection planning the get more than six million results. Ice must make sense of all that information. The answer is you shouldn't would you need to do is called Cushing in Dolan the experts and elder law they've written a brand new guide told top misconceptions about Medicaid -- applicable trusts this guy details thirtieth the most common misconceptions about using irrevocable trust to protect your assets at your free guide by calling 8668485699. Many people have concerns about how to access their own money if their kids or their trustees and about paying higher taxes if they want their assets to be unavailable for nursing home costs these are just a few of the myths that Cushing and -- reference in their new guide the top misconceptions about Medicaid irrevocable trusts Cushing in Dolan has been helping families like yours for nearly thirty years off for your free guide today at 8668485699. That's 8668485699. You can also downloaded right now on our website -- legal exchange showed dot com. 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Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency not guaranteed by the bank and may go down in value leader back a step ahead. Security suffered through securities America income member finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. What's hot and what's trending. The world of finance and go from Barry Armstrong and chuck sun out on the financial exchange radio network. We're joined now by Paula Monica from CNN money like you are every Friday talking to us this week about a company called ground hub for you know anyone not familiar with the company it's that. Food delivery service you go on their happen you know pick out where you order from and go into the delivery. Paul what is giving grub the advantage against a number of other companies that are doing the same thing here. Yeah there's a lot of competition they've got forecasters Newbury outpost made an Amazon getting in Europe and I think what grow up has done is they've bought and and other activities see what we yours skeptic. You know. You wrap presents to them. Cross United States they've done a good job partner with Opel. Restaurant in national G app deal with don't branched out now. And in I think out of the disease. The yuck company. And NATO Europe lot of the right. Today they're with their recent earnings report you mentioned that the stock is up 25% I think on Wednesday. All younger guy. It's only been public traded for what four years now. And yet there's been publicly traded for about four years of the road is still extremely oppressive country. L were up 1% profit more than double so that kind of growth that. You we argued justifies. You know eat huge are brought up. In the stock price I think they're clearly. Cognizant of the fact that. There's going to be increased competition I think that's what they do it is. You know or another I'm mobile technology company called libel law that you know can help them in Warwick vigil pavement in. Customer loyalty programs kind of adding to the services are about or at. Sorry and I know they're charging delivery fee they pulling in revenue from advertising. Award today I mean you mentioned the special deal they have with that KFC Taco Bell. Where there are many main rit revenue line items. I mean the raiders really coming from you know that you all they have with or are companies and now all you know can cut of the sales recently. He yet you know advertising a small part. I think what really UMB is looking to do is just to you do expanded and a other market in trying to be able that it would people think about. Take out there in doubt ordering out alone there I'll order food on their phones and the European broke out as opposed that in numerous other services out there that it. Now pol and grab. Level up the purchase their tremendous Boston six sister that's of public as a bust mr. at the began like yup and called scavenger. And impressive that they bring more than 200 clients to the table four Grupo. What's your sense of how the level up technology. Is that a game changer for Greg covers it really just. Bringing in you know another 200 potential. Restaurants like beer burger pot belly into the about network. Yeah I breakthrough those other restaurants to network I think that is keep it I think this is probably you know. But that I think there are more interest in the U content. Technology in light. Well the program they've developed with a lot of their client. You know that back could potentially give them an advantage though first some other competitors that. Clearly have a lot more resources at their disposal. Keep on going up like Wilbur but they won't be easy. For Agra probably immediately I think investors. As it out well. So I guess that's the you know ten billion dollar question and you kind of alluded to it they're doing a lot to try and you know build up that wall but. Let's say Amazon does turn around tomorrow and say were Clinton. A few hundred million dollars into the food delivery business to grow up hub stand a chance. Given the investments that they've made. I think we still do I mean that being you know maybe I'm being bit naive and rooting for the underdog if you wanna call about a minute but what's wobbly dollar market cap companies about the fact that I don't mean. Although wet what I do you think it interest is that your findings on the areas. We consider everything a market that. Companies are able to withstand pressure. From Amazon and and even other giant mean if you look at it elects spot a totally different market of course but. Spotify is still doing quite well even though apple is compatible for use your word. War. Smaller companies that are by no means you use. The debate team there are a market eligible for companies in China like Amazon and apple on you Barack. But recited well. We see and grab public recently expanded into Santa Barbara Reno square Eden. Spokane so you know kind of second here. Cities what's your sense of how much more geographical growth there is four. Untapped markets for grown hub to address. Yeah I don't like Ramallah security they account all the executives are pretty optimistic that the industry is bill. Beer the rack and so there are a lot of market the companies looking at it though. Go into it and like they have not reached saturation point just yet epic work. Rat yeah Bible about you know grab the too many market you know by yeah it's been you know. A criticism of Starbucks or. And well Paul Ritter should come and on company's name is grove hub ticker symbol GR UB. Big Bayern report on Wednesday apple have a great weekend thanks coming here. We talk about domestic. You expansion that they've done and ignoring the fact that. Well it is an app that delivers food there's the whole world for them to go and take on that. There's no reason that you can't going to candidate with the same technology in other companies that don't see why they would. Prevent them from doing Seau. In other parts of the world how much they charge restaurants. I don't think they disclose I mean it's our consumers. I've seen the delivery fees media's eyes like five bucks. And I think where there make a lot of money is paid KFC Taco Bell you partner with us and we're gonna put you re at the top of the list every time some searches and geographic area and you passed. Never used it never I've always been a picker upper right yes I I don't know I was too lazy if it deliver continues if that you when I what I like about it is if so every time I asked my wife he would he would do for Randy Tate and where he won him the answer is. Always Chinese and now. A don't I don't couldn't figure I don't know you figure out no you figured I've figured out last time and they show a dry varieties of its like know anything but yeah exactly these is the exact conversation I have my wife every time we get home at work and yet and a cup you know. So at least go above you know what your options are you say okay this is this is all within five square miles of us we go pick it up in the next half hour order raid on this happened. And we do it that way like that feature so it's nice to five bucks hookah. But again or you can just go pick it up and charged delivery charges just. Use the service so why would manages color restaurant. It just use you've gotten all the menus for all the different restaurants on one application if it's why online order. On line ordering. I'd rather than just going to each individual restaurant's website checking out the men and you can. Take all right there and one half. They put together using that put together a list of these most popular order items aka from these restaurants giving you tips on what to order as well. Al like I'll try to I'll grant outright out of the weekend show research don't give us a little bit of a review when you come back to Louis next week. We are runup at a time for this week's financial exchange taking a look at markets. Dow Jones up 23 points S&P down six NASDAQ down nearly fifty points as we close out the week here have a great weekend everybody we'll see you next week.