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Full Show 10-5-18

Oct 5, 2018|

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If you exchange with the very Armstrong and chuck Exxon. Well this Friday here on the finance Wednesday and it's the biggest. Friday of the month we've gotten jobs report out from the Bureau of Labor Statistics. We'll start off the show by digging into that we get some of the stuff that we're gonna dig into his. Well treasuries continuing their sell off we've got the spite chips that it may be made their way and apple products as well some other ones. But we're gonna start off today talking Friday jobs trucks out of Mike Armstrong here. Berry is out for the day so no barrier but. Mike we did just as good maybe even better results and it might when we were we take a look at this jobs report. What's at first glance before we start digging into was some of the underlying stuff what are you what are your first thoughts on. First thoughts about as expected surveyed did being number that I personally cared about was the week increased the unemployment rate. You know we're hitting these records statistics about unemployment today not all that relevant right now. Real relevance comes down to wage increases and those were about in line with expectations two point 8% annualized wage growth is what we saw it's also what we expected. Yet the number of jobs added were slightly lower is action quite considerably lower estimates were at 18585000. We came in at 134. But not unemployment still drop downs three point 7% which by the way lowest rate since December of 1916. In and by the way let's let's talk about this wage growth has I think the other numbers you know again. You you're having a really strong job growth still if you look at the last three months were still averaging a 190000. Jobs a month which is a really good number. The the unemployment rate is going to remain below 4% for the foreseeable future I don't see anything really pushing it back up. Let's talk about what's going on in wage and specifically. I wanna look at. Three month trends in wages. We go back almost a year ago about nine months to. To end of December. Wage wage growth over October November and December of 2017. Was averaging if you if you annualized doubt it was growing at a rate of 2% a year. If you look at the first quarter of this year it was growing 2.4 percent a year. If you look at the second quarter of this year was grown two point 9% a year. Third quarter this year three point 8% a year. OK so you are seeing an acceleration in wage growth anyone who says it's not there now. With this data point you can point to and say hey. There's not anything spooky about this this is a consistent. One year fueled it again the last four quarters here. Wage growth is gone from 82% annualized rate up to a three point 8% annualized rate it here. Yeah it's it's here it's clear it is it is absolutely happening at this point which is a really really good thing to see. I was personally someone who. You know as recently as yesterday was concerned looking out over the course of the next year some of things that are out there. Still concerned about some of the international things suggesting international slowdown is happening but when we look at this data here. It gives me a little bit of confidence looking out 91218. Months where you can say. OK at least domestically we've got a little bit more strength than we've we've probably realized. And that might be able to overcome some of this international weakness that I do think is still for real but I think the domestic situation. Looks a lot stronger than it did two or three months ago now. Yeah I mean I am not concerned about you know US economy remained strong if I have a concern at this point it's about. Significant inflation coming up in terms of what were what what this does to the Fed. One of the the concerns. When we talked about. You know knew how the Fed behaves is hey is there going to be inflation that causes them to raise rates more rapidly than we expecting in historically. We've looked at wage growth is one of those things. That typically is an indicator of where inflation may be heading. When you start getting up to wage growth. In the ballpark of 4% and granted you know it's it's just a quarter but. Hey look if we see another one of those new of that than the horses me officially left the barn wouldn't. This is the kind of thing that does start to make you a bit concerned pays the pit gonna be you know hiking more than expected. And we saw this somewhat with bonds this morning where the ten year treasury initially spiked to 3.2 4% at one point. Now which was its highest. Highest level since 2011. So I do think this is something that could put some pressure on the Fed if it continues you may see some fed hikes that come through here. And as the effect. Of really you know continuing to slow down real estate markets we've seen slowing price growth in them to this point. But also you know potentially if you're talking about people who may have taken out adjustable rate mortgages myself included I haven't adjustable rate mortgage and people who might have credit card debt people might have adjustable union dues to the whole bunch of different areas where you might have adjustable loans out there. The cost for those people are going to start moving up as a result. So they are I think we do you know we don't get very concerned about rising interest rates what the Fed's going to do next and it's important can be concerned about any real impact financial markets. It's also important keep not keep in mind you know where we are in terms of historical norms. You can still go get a mortgage right now for under 4%. You can still end up not so much I mean I guess a thirty years by. Averaging about four years here for you right now on thirty year it today in terms of historical norms were still pretty low interest rates day I think that this economy could still absorb. You know a little bit higher interest rates at this point I don't think. You are in I don't think you're in danger of you know. If let's say the Fed does hike rates three you know one more time this year and at times last you next year. I don't think you're in danger of financial meltdown. That that be pretty par for the course. Known it's it it's not a case were rates necessarily lead to that meltdown. But it is a case where they likely do lead. To some continued slowing in the US can't salute and and that's something that when you take into account the overseas picture is that there and say gee you know would he doesn't necessarily paint the prettiest picture. Looking out twelve to eighteen months if we take a look at the probability for December rate hike now. Back before this was announced we go back just a day ago. It was about a 77%. Chance that we saw a hike. In December were now up to an 86% chance so yeah this is pretty much saying hey look the cake isn't quite baked yet for December and that rate hike. But it's getting pretty close this is another strong data point. That likely points in that direction and probably you know all but assures us that we're getting that hike. In not in December up to between two and a quarter in two and a half percent that's where. The Fed is likely going. To be targeting short term rates than say your prediction had been belief for four rate hikes this year and two for next year is that accurate I'm on team one to two next year Erica and I am launching two to three next year to this report change for you know I'm still. I'm still thinking that the international stuff is going to be enough that it results in the a a slowdown especially some of the data that we got the last couple days and I've parked on the South Korea number just his. They are a major manufacturing and exporting center in their exports a year over year for August were down eight point 6% that's that's not a small shift that you see there. The last time we saw numbers like that from South Korea the back and start point sixteen when he had the energy sector completely fallen. Or let's let's latest example of out of orbit for a I don't mean to get too deep into antithetical to let's say that we do see. Three rate hikes next year and you about tonight in December 2019 rolls around let's imagine that US interest rates are significantly higher than other developed market interest rates well they already are keep in mind there already are today that but that would and you really inflate things if you know global economy Europe continue to stagnating US economy continue to raise interest rates and what does that do the global economy what concerns do we have then about. The US and global economies and how people behave in this scenario with a big thing that your. Already seeing is Ian emerging markets you're seeing is this effectively dollar shortage that is creeping up there in what happens there pretty much is. You effectively have people who visited trying to buy dollars because their own currencies are falling. Game what it does is he continued it creates a cycle where the dollar strengthens make it more difficult for people who own other currencies to buy it. And it really can can create a slowdown in some of these emerging economies. So it's it has some really nasty short term effects there. And and that's why when I look at you know one of the things that does concern me. EDS to a certain extent dollar strength because dollar strength. You know makes it so that you have capital flight out of these emerging economies. And in today's world. You know that does have a very real impact on the overall global trade so here I look at in that part of the reason why I think the Fed is only able to hike one more time next year. Now I think another piece there of that puzzle. Is the overall net interest expense that the US is paying this is gonna continue to eat into the budget as far as our ability to finance our deficit and pay for the programs. Especially since you don't have a lot of international appetite for US bonds were. Yeah it's a legitimate concern there's there's some stuff that's out their that I worry about. Let's take a quick break here we come back and away from jobs we're gonna start talking. Spite ships not pita chips not potato chips but we're gonna start talking spite ships we didn't cover this yesterday really. But the story about apple Amazon and other major tech companies that may have been infiltrated with Chinese technology on the air. Hardware it's something that we need to talk about in new kind of what this means. And you know what it means for apple as well as our technology. As a holes that's coming up right after this break on the financial exchange radio and. We wanna hear from you. Tech Steward diaries 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view -- listen to -- for years on the legal exchange radio program -- that he's an expert an elder law in the state planning so you're just starting or into the retirement process you're going to want your trust documents to be prepared properly and so is your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new -- told designing the income Malia read the global trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. At 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed 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 that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy coming in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cold 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. 862. 1190 that 781. 8621190. 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 781. 862119. No. Hi everybody it's very Armstrong and Jake two Lian we're talking about a program called Z rent. Now this is specifically. Designed for those of you who wore landlords in used to collect your checks. With paper checks are gosh maybe still do. Will Z rent allows you'd collect checks electronically. Jail is hoping he could spend a little bit of time explaining how easy grant works and why it's a big advantage for landlords. Absolutely buried so we we develops the rain to. I did me the whole race because right now you know with the landlord when you're getting rain checks in the mail it's low it's unpredictable. You're missing envelope line mostly waiting he might not get all the rent until the tenth or fifteenth of the month furthermore if your landlord on vacation erasing your notebooks two would you rate does is it really digitize they'll. It makes the rent electronic payments it allows for roomy cheering for multiple roommates and apartments that's great if you're renting at the college student absolutely. It's predictable it comes at the same time every month. And it's all on me. So the landlords who have been using assisting huge time savings and ornaments you are you still giving the first six months free for landlords the first six months or free and then in addition to that. If you bank at one of the participating banks he ran is always pre pre. Those participating banks are meter being installed in that she's the up at that any bank could sign up rate make if you at a bank in Vermont to Connecticut. They could sign up and become part is the rent yup you fury if you have a community bank that wants to be a member happened Collison will have and sign up and the service will then be free free. All right if you wanna learn more about easy rent. Go to Z rent dot net you give my call if you wanted to 8776917900. If your bank doesn't operate that can sign up for zero it go to zero rent dot net or call them told free. 8776917900. Security suffered through securities. He'll network. So we're back we're gonna take a quick look at our poll question of the day which relates the story that we covered in the first segment on the jobs report. Specifically now looking at wage growth and our poll question of the day up now on financial exchange show dot com. Is happy received more than a 3% raise in the last year. There's two answers there yes and no there's no maybe you typically know you've got you know a bigger or smaller raise than that. And we'll check in on this over the course of the day so again head over to financial exchange showed dot com. In vote on whether or not you have received more than a 3% raise in the last year you can also text it wants. And let us know how big was your rays actually we're not to give your actual name Brack until people the company you work for. But text us at 63566. And let us know. And did you actually got in a raise over the last year did you get nothing to get 2% 3% 5% maybe get 10%. Let us know what kind of wage growth you saw your job over the last twelve. Months LC and certain age if you're Texas and what industry do you work. If you have or even if you haven't received AA. It might even worsen if you haven't received that increase of the last. Last year what industry do you work. You know of interest to see it means if your truck or fewer. A lot of these industries most these guys are seen in guys and women aren't seeing a lot of wage increases but if you are or if you're not. How much of wage increase did you see. And what industry do you work. So head over again the financial exchange showed dot com and vote North Pole and then also text us and let us know specifically with regards to your situation. How much were raised did you end up getting over the last twelve months in you can Texas at 63. 566. Start but the story from mob Bloomberg from yesterday regarding apple. Bloomberg came out and said that a company. Based in China called super micro. Which is a hardware today really computer chip company had come out. And not come out today they they've effectively. Been putting these tiny little chip the size of me a pretty much a pencil tip. On apple Amazon and other products. That allowed. Chinese. Companies and in in the Chinese Government potentially access. Two information running on those platforms that could either be used for industrial espionage. Not collecting data on its users. Apple denies this but it's this kind of story you know its its kind it's not kinda creepy it's it's completely creepy if if true actually. It's completely creepy and I'm trying to think of a reason or him method as to why boo Bloomberg business week would come out with a story without any evidence of it. You know in spite of the fact of Apple's denial they see through there's got to be something going on here. Now Apple's denials also inch think at bases specifically said hey this isn't happening. And by the way were not being subject to a gag order we are not you know under under any FBI investigation. And that's not something that apple would say if they had some knowledge of this on the other hand as well if they knew that this story might come out a few years down the road they wouldn't explicitly go out of their way to say. We're not under a gag order we knew nothing of this. It's very very interest it. It also seems you know especially if you listen to is a national security experts it seems a bit amateurish. If you're gonna happen why opening. Just in terms of the methods. Of going about hike hacking accompany. It seems like implanting a microchip is almost out of a James on doesn't seem like it's open it's actually. Well. Just because it doesn't seem like something that's done doesn't necessarily mean it's not happening you know that this is there kind of thing. Where you know week we've seen cases and we and we've heard of cases before with these kinds of things happening not necessarily on the scale that was described here. But certainly. You know it's it's something that the ovaries is concerned simply because. Hey how much do you actually know about what is going into the products that you make it raises further concerns about the manufacturing that goes on in China as far as they do you want to have major manufacturers working over there. If you don't necessarily know what's going into. The products here. So it down. Eighth the founder of the national security institute at George Mason looked at this and said it's in shame because today. Is crow is that's actually a pretty amateurish way to conduct hacked so. That's one individual is Jimmy you know Jennifer Jennifer is about the national security institute just as surprised by the way that this was conducted. Forget about if we're talking about trade issues with China right. Forget about the deficit forget about. Any of the other issues this is what the trade issues are about this is why we are putting tariffs on. Imports from China or at least it should be. Well if it is an aunt in law. If you look at the market reaction to this one of the big things that we saw yesterday it was computer maker Lenovo. Which is based out of China. They saw their stock fall 15%. On this story now doesn't necessarily it's not confirmation that anything actually happened. But it is no confirmation hey there's some concern that this could actually be a legitimate story. There's there's an awful lot of I think confusion. As to what is actually going on here. But I think there's enough smoke went when you read through the Bloomberg story and and I went through this morning. In Folgers to actually see what was laid out there's no smoke there to make you think looks something probably was going on even if it's not exactly what's described here. There's something that's going on with this company super micro and maybe it was targeting apple products maybe it wasn't but there's enough smoke that there's something going on here even if you don't know exactly what. I mean there's a load to me. Justifies any penalties you want to push hunt. It Chinese companies that are doing business here or American companies that are doing business in China I mean it is a very very real concern and I hope that we get some evidence of that through this through its investigation. We've got some Tex coming in on the text line at 63566. Regarding the the kind of raises the people of gotten over the last year. Up from 6032. Point 5% raise works in public utilities. From 9782. Point 5% as well he's a salesman for a high end electronics company. From 603 as well medical sales got a 2% raise in base salary. But that's in trying to read through what this actually says here. It says but after the corporate tax cut every employee in additional 4% contribution. Into the 41 case or not you know base pay but pay an additional you know pre tax dollars going into the 41 K. 50 wait saying it never saw a pay increase and another from five await saying got three point 8%. This year or so new kind of match in what we saw for the last quarter here. And succeed. Yes apparently this when the rays percentage equal to your annual review score but keep texting us at 63566. Let us know. What kind of raising got over the course of the year and also what industry you work in so that we can receive their nutrients that are developing there. In our. What seems to be an almost daily segment on you on most Twitter account. You know so you on mosque settled with the SEC last week for twenty million dollar fine and not being able to be the chairman of tests as board anymore and also was supposed to have Twitter supervision which by the way guys must be ten million and only two years. T. And I quote from his tweet. Just want to note that the short seller enrichment commission. New SEC is doing incredible work in the name changes so one points. How dumb can you be. It does he think for a first of all does he think he's never going to have to deal with these people in the future. Is pretty much what happened is you must just settled in in really got kind of a sweetheart deal to be completely honest with the SEC. And then he is going back in pretty much haunting the very people who made that deal with him this to me is like driving ninety down highway and flipped it off the cop as you go by. It's not good but not good. Quick break here when we come back we've got Wall Street watch and also why auto makers are moving more production in North America right here on the financial exchange radio and. Life goes on FaceBook and follow us on Twitter. Show breaking business news is always first right here on the financial exchange radio network. 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. All 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. 862. 1190s that 781. 8621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. Know if. Our 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 sea grant 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 mostly in the produce 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 required dizzy rent technology -- Obama -- -- he ran team at 7816418691. That's 7816418691. Or visit Z Rand dot net stop chasing down late payments and running 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 78164186917816418691. Or zero rent dot. -- many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view -- listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so in your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income only your inevitable trust that contains the specific language that must be included and more importantly link -- must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. At 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Hi this is Barry Armstrong and if you're a 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 will even send out annual interest payments direct. The new 900 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 this is a special announcement for all landlords chasing down only rent payments and making trips to the bank to deposit checks ticked hassle out of rent date with easy round leader banks all mine rent collection tool. He ran automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more we see rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW dug see rent dot meant to learn more or call 7816418691. Time now for mostly watch a look at the market's performance so far today it until Darian jug right here on the financial exchange radio network. It is time for Wall Street watch presented by leader bank landlords can streamline your security deposit collection now. With the leader bank's new product Z deposit forget those compliance headaches in what's he deposit manager ten security deposits automatically. On the line call 7816418691. Or visit Z deposit dot net to learn more. Member FDIC. And Mike. Let's just start off first talked about Tesla stock how is it responding. Chu mr. mosques comments about the what was the short seller enrichment commission that's right. Obviously not well good news. Stock is down nearly 5% on the news so you know apparently yeah apparently. He's proving it Friday I guess if you call the SE CB short seller it mission it will become the short seller in Richmond commission to self fulfilling prophecy there. What's going on with Costco I know they reported earnings yesterday. They are currently down about two point 6% what what did you glean. And so on there's going to be more to come on this custom report the fourth quarter earnings. Right in line to 36 a share that basically in line expectations that. They said that they expect to report material weakness. In their internal controls and that neat what does that mean yeah that's the big question it could mean a number of things it could mean that. Some sort of accounting was done incorrectly but they did say that they don't believe that there a date they've been going through things and said they haven't found any incorrectly reported financial statements yet. That material weakness in internal control means to need that. There was something wrong with York. Financial reporting documents we don't know exactly where it is but you don't know where it is a haven't said they found it's red it's possible that they'll be nothing to be possible that they say. You know we found a weakness in our controls but it actually didn't lead to any issues but it's also. I think more likely that they're going to disclose that there was some sort of correction that they need to make prior earnings or something along those lines of we'll see what Costco comes up with year but. Obviously back sort of ambiguity not great for the stuff. No it's it's it's not really ideal it's not the kind of thing that you want. To see there let's talk a little bit about this report. Out of the Wall Street Journal. Auto makers considering moving some more manufacturing. In North America and this is on the heels of effectively be revised trade agreement likely being approved in in the US Canada and Mexico. But we've got representatives from BMW and dime more at the very least saying they were pro and have to move more production. Into these countries which was the exact aim of the trump administration in pursuing these kinds of deals yeah. Image issue and be too surprising here it if you wanna avoid a tariff now you need to move more manufacturing here in North America so. The new tentative deal which has not been put into place yet does require automakers to build at least 75% of the car's value within North America. That used to be 62 and a half percent so that's you know up a good. What's that twelve and a half percent. It also requires that forty to 45% the vehicle is made by workers earning at least sixteen dollars and now so that. You know limits. That does limit you in terms of where you can be putting these cars and assembling them sorry get the workers for us. Mexico. It it might actually be that you see. The net effect this might just be that you know US companies are invested billions of dollars in New Mexico plants they might just raise that you raise the wages to those two those workers there rather than relocating some of these jobs will lapsing. Let's talk about. Drunk birds. And yes I I'd type those are words I never thought I would say in my life like you wake up most mornings and it's okay have to brush my T have to go we practice and it. You never really wake up on a day saying. Yeah let's talk about some drunk birds but that's what we're gonna do now because apparently. This is a big problem right now in northern Minnesota and it's not that. You know northern Minnesota and are walking around with the you know cans of Bud Light you know force feeding him to birds or anything like that. Does this seem like something you'd have to pay to see and like the Bahamas or something like that. We'll know what though my my my first thought is this this seems like the kind of thing that is like. The the first seen in some kind of apocalyptic movie like birds losing all sense of direction of flying into windows and stuff like that but what's what's actually happening to him. The birds are ingesting berries that have fermented apparently earlier than usual because of an early frost in Minnesota. And because of that birds have been flying in to cars windows. You'd really as you mentioned the losing your sense of direction and has been. Apparently a bit of a concerning apocalyptic mess in northern Minnesota these drug birds. Figure out their lives at least bowers said don't panic the birds with a bench sober up. Lot of FU lies being him where which by the way is a a phenomenal quote like the words will eventually sober up let it. Again you think that officer ever got he got into law enforcement. Never think that you would have to say that don't worry these birds will eventually be so. But what a nice fun day for the Minnesota police department. As and I don't even like I think about it. I always say look when when you live in New England you don't have to deal with a lot of things apparently drunk birds are one of those things you don't have to deal with. Its. Happening up in New Hampshire or something like that. An array of folks if you're a landlord or property manager I'm sure you've heard us talk about zero and Peter banks tremendous on line rent collection program. I'm excited to tell you now about their brand new product called Z deposit is another free program which streamline the opening of that security deposit accounts. Through a totally digital experience. Busy deposit landlords and open an account online and buy tennis and to their their information and manage all of their security deposits. You deposit also automates made a compliance headaches for landlords such as generating account disclosure forms in the league and sending you'll interest payments directly to the tenants. It's easy to get started just called Z deposit team at 781. 6418691. Again at 7816418691. Or visit them online at Z deposit dot net. You deposits three for every once a call today and make it that much easier to collect and manage security deposits. Member FDIC. Lead to bank a step ahead. So what are things that does have me a little concerned as we start to while a new kind of round out the year we've we have got less than ninety days left in 2018 in two point nineteen is around the corner now. Is it is what is the situation locally for companies and their earnings. Heading into next year you know what one of the things the last couple years in of people Sid geno this market keeps going up up up how much longer can ago. And I civil look earnings have been really really good you know it's it's one thing if you just had people bidding up stocks and earnings were going opt. Earnings have been really good in particular this year we've seen new huge increases in earnings largely because of changes to the tax code. One of the things that we are now seeing. Is that when companies issued their third quarter guidance during their second quarter earnings conference calls and in there filings and so forth. We saw the highest level of companies issuing negative earnings guidance since the first quarter of 2016 which by the way that first quarter of 2016. Market's pretty much fell flat on their face for almost the entire quarter. They did. You know this is something that I think companies have been sort of warning about and that is financial analysts have been warning about as well witches. Have we reached peak earnings growth and that's you know at distinct possibility if if things committed their plan to this year. Were estimated to see full year earnings growth of about twenty point 4% that's pretty unheard of that the that the very religious and really good again. A good chunk that probably two thirds to three quarters is the cause of tax absolutely dead and that's a very big chunk of it. If Torre nineteen those numbers come as expected it's about a it's gonna be about half an. So age you have to and ask yourself. What about a what could change about this to make earnings growth continue at the tremendous rates we've seen and it'd be pretty darn difficult to see that sort of thing. And then what does this mean for the stock market if they do come in at such a low rate. And my question also is OK see you projecting a decline down do you know around ten point 3% is is the estimate that we have. From facts and based on you know what companies are guiding torture us. If we continue to see wage growth accelerating that's the kind of thing that absolutely eats into earnings in the short term. Accelerating wage growth is a really good thing for individuals and for the economy in the long term is it builds a healthier economy. But in the short term it could be something that the results in somewhat of a stagnant market because companies command they say. Yeah we we had great sales numbers but. We had to pay more wages so that eat into earnings in the short term. You're probably right that's said it all depends obviously on what people end up doing with their money. Yeah diets it all comes onto your consumer based economy if you're getting a waging yours if you're getting a wage increase. And you are spending that wage increase then companies can count on their earnings continuing to increase. If you're getting a wage increase and Europe's stacking up your emergency fund Berkshire you know pump and in your 401K or for paying off debt. Which by the way is what we've really seen consumers do over the last five years when they've either saved money or gotten wage increases think back to. Let's think back to. When it oil prices plummet ass and according to an early age to eighteen so you know back and fourteen you had oil prices well over a hundred bucks a barrel. Oil prices plummeted people start saving a lot of money at the pumps but you know what they didn't spend anymore. In spend anymore so that's our real question that I have is what do consumers do with these wage increases. Where are they going to put them. Yet in and I think the question is you know is is he going to be generally what you see if we talk about in and we covered yesterday the story on. Amazon room the last two days we covered it Amazon bumping their minimum wage up to fifteen dollars an hour to get rid of some employee stock grants for low end employees. And things like that but they're bumping their minimum wage to fifteen an hour. The question I think that that it raises them is look what happens. With these fast food chains. That not so much in New England but when you look across the country. They might only be paying people 7258. Bucks an hour did they feel pressure to raise wages by 2030 or 40% and how does that and it eating in the march. Certainly certainly been a lot of political pressure on them and yes and you need to talk about Wal-Mart knew they'd just raise wages to eleven bucks an hour but Amazon comes out and as fifteen now keep in mind Wal-Mart is the largest private employer in the country. When this president large large private employer in the world for that matter. So it's you know more difficult than to make those moves but there's a lot of pressure on their to raise wages I think you see more and more automation in these types of rules. I've list of the largest world employers by the what's it and this is as about 2015. So we don't have data yours right now Wal-Mart is the largest private employer in the world okay. But in terms of the largest the Republican players of of individuals US Department of Defense is actually bigger 3.2 million people but probably not paying the minimum wage I would. Imagine and hope you know and generally want those people to be paid pretty well people's liberation army of China is seconds 2.3 million people. But then we get back to publicly traded companies. We are talking. Wal-Mart. McDonald's. China national petroleum China post group. Sit OPEC Tata Group Volkswagen the US Postal Service men Compass Group in the agricultural bank of China the Wal-Mart far away the biggest. Private employer of affect only government on nongovernmental employer not at this point so we'll see if they faced pressure to bump from that eleven of twelve or thirteen because. You would imagine if you're an employee at Wal-Mart in your stocking shelves say. He wanted to go stock shelves and Amazon warehouse and get paid you know 40% more. Right but I I think you just it's you're gonna see continue it continuation of this and we are see it right you go to Wal-Mart now. Most people urged checking out there are not having somebody check out their groceries what are you doing in basic doing on your yup. So we'll see continued automation I think it's very likely. Quick break here when we come back we've got the Major League Baseball playoffs officially starting at one of the best days in baseball by the league all four playoff games is back to back to back to back is that the right number backs. I'll actually started yesterday there were two and Albion schemes and those are aliens but they for today right. Yes game the game twos there Elvis that's opera correct a case of the playoffs don't start today I was busy watching football hockey sorry playoffs but you do get four games they Brad pop up from wobbly is gonna join us. We're going to be talking about the financial impact of those playoff teams. On the cities there and stick around we'll be back in just a couple. This news financial news and what it means if you look it's only right here on the financial exchange with Barry Armstrong and chuck saga on the financial exchange radio network. Hi this is very are strong and I know that many view who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to lie you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you -- to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the Wacey need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our web site Armstrong advisory dot com. Juries are with the securities America incorporated members in as the PC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and are two companies are unaffiliated. 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 zero and 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 mostly in the produce 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 Tillman McCall does he ran team at 7816418691. That 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 78164186917816418691. Or zero rent dot net. Hi everybody it's very Armstrong and potluck ski from the legal exchange showed dot com we're talking about. Cushing and old guy for the month October called Medicaid income trusts. Todd I have to confess the average person is not going to know win the trust documents they have are right or wrong. The need to rely on whoever their tourney would be. What should they be looking for when selecting an attorney to draft. And Medicaid income trust or an asset protection trust you know bear I think that's the best question ever because you're right they don't know as much as we try to educate them. It's just too hard the language is too technical and and and people aren't gonna know one player and others so when you're looking to hire a lawyer to do this. I think one you should find out if they spend a 100% of their time. To winning best they play the taxes estates trusts you know that's it. If they're busy running their personal injury court they can't keep opera you know it's hard enough for me to keep up. And I total time. But also make sure on their card when you get their card that you see the letters Ellis Island after their name. That usually means that they have a masters in legal letters and taxation mean certainly need that need to understand taxes when you're drafting trust you zoo authorities tell you that from personal experience. And lastly I would say when you leave the meeting you know what you want to have a flat fee. Regular note it's gonna cause you don't wanna be billed you know by the hour for this work exactly and when you leave had a great understanding of what was done you're not asking more questions. Then when you came in. Good advice from Todd let's keep you'd like to copy of their October guide regarding Medicaid income trust you can call them told free. 866. 8485699. Or you get to guide right now by going to legal exchange showed dot com. Download the guide from their website legal exchange showed dot com or call ample free at 866848569. To vote and orange. There are you afraid to call plumber because you don't know the cost easy plumbing complete most simple residential service calls for under 300 dollars. Could be a block sinker drain a leaky faucet shower veteran on stopper and into a call easy plumbing because they can fix it. Asked and leave your home spotless when they leave call today at 7818621190. Or visit them online at easy plumbing and made dot com. Mass master license number 10183. We're joined about Brad cloth out from wobbly. Talk just about the financial impact of the MLB playoff series we got their Red Sox at home tonight against the Yankees Amber's to leave tickets by the way it looks like he can still get tickets for. About a hundred bucks and then going up from there. But up. You know Brad we had you on I think back in February talking to us about the impact the Super Bowl. And it seemed like it was pretty muted in terms. You know both cities saying hey we're going to be throwing parties at home and you know restaurant sales not releasing much of increased. How does that compare to playoff series in the MLB. Sure it is very different actually we see a pretty significant increase in a number business category it just kind of recap how we viewed it I want we we. Gary transaction data from doing the small businesses the power of the opera are small businesses use but they'll look at that the interest in looking in Q all these patterns that are going on at local market in. Different state around transaction between. Consumers and small businesses in this city so for example. We can look at last year's performance opt for different business categories. Into towns where. Who what where there is debater would believe in the playoffs since he would in practice so we get a party that aren't in normalized. What the average pay per revenue looked like in the three months prior to the playoffs and they compared. Audit the a bit behind sprain during the playoffs against that average in what we found was that there was a pretty significant change across the board so. Just looking at eight team gave vs non game on game days all these different categories that we analyzed stopped 32% increase in sales. On non game days even thought 25% increase. And then home and away there wasn't he used different. Across the businesses that we analyzed in the difference city Puerto perhaps last year was 32% vs. Where whether they are home or away but there are some significant difference as we look at when you look at specific market like pocket or you work I'm on those different dimensions. Brett you talk a little bit about those specific differences there. So let's take pop in for example so. There's a major difference in the home pursue the way average bear so again I mentioned that home if you look at just. Wind into the home how to do restaurants and bars and lounges on lodging businesses and transportation business as spare. On average. Crop all the cities of 32% increase it in the 76% increase in Boston. Asked where there are aware that into the way you still use yup Bob and those businesses start 67%. In Boston. And then again looking at it different between regain day when the Red Sox are playing verse of the day when they're not playing during perhaps even. There's a seven point spread. It in the game beavers is not gain data across all cities but in Boston it's much larger troubles started 25% that. 72% lid on game day 46% list on non game days but in general. People are responding to the fact that the team in the playoffs and I keep eating out of the house and spending money that these businesses are at a much higher level and across other but he. Ready just looking at these metro areas as a whole or do you even get you know kind of neighborhoods specific in the state. So it is typical to get. Really pathetic because the apple Biden becomes smaller we looked at and about the business of the crop all of these cities brought to you wanna maintain a high bar for. Unity they repeat ability of the data so. And the funny that were lining though in some cases there may be like it occurred at a high concentration of businesses are for this purpose we really just looked at that are high level we all that. Constrain the again. You know RT businesses that arc. Did Brad we've got to run but thanks for joining us today. It a lot now from while we talk about the financial impact of the Major League Baseball playoffs. On this is that the teams are in we've only got about ten seconds left. So. Let's talk a little bit about those playoffs we got Matt. Sox or yankees. Who Red Sox OK we got the Red Sox might come this is any reasonable who really got stopped we got. Sox in five. I'm go Sox in five as well so the time we have on this hour will be back in just a little bit with a whole lot more. Financial exchange. 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 calling 8776917. B 900 that's 8776917900. Or visit leader bank dot com member FDIC equal housing lender. And MLS number 449250. Subject to credit approval leader bank a step ahead do you think you have enough money to last for your retirement. Think hard because if you don't you Armstrong advisory group has a brand new guide this month called how to develop a retirement income strategy did yours today by calling 803934001. Or downloaded right now on our website Armstrong advisory dot com securities are printers do -- incorporated member been reticent PC and advisory services are for the securities America advisors incorporated Barry Armstrong represented a Armstrong advisory group the securities America companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to Todd for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so in your assets are protected from the nursing home it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new guide told designing the income only your inevitable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's yours for free. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line rent collection product called -- 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 required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That 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 74. Truck from the financial exchange and were talking today about developing income while European retirement you've worked all your life and you've accumulated money in your diaries your rock fiery Ager forward Kaczur for a three vis your pension plans all that money you've accumulated it then retired you say well gee I need 3000 dollars a month I need to design and develop income from my portfolio how does one do that in today's market shock when interest rates are so low. Well it really is a challenge because you don't have the fixed income options that we use. And me. This is the financial exchange with the very Armstrong and 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 and every day. And now the financial exchange with the very Armstrong and chuck Exxon. It's Friday here on the financial exchange data is saved jobs Friday we got the government jobs report coming out or rather already came out earlier today at 8:30 in the morning. And it's a pretty good report the headline number a little weak but what's actually under the hood looks pretty. Good chucked out of Michael Armstrong here for you today. And Mike is as we take a look at this the headline number 134000. Jobs created. You say and not not not great now we want a seat. A call that out desert 134000. Which is less than expecting but August was revised up to. 270000. Signing the exact place I was. Well it entrapped is not the exact place that was. So we did have me a big upward revision for the month of August of 270070000. Job ball worth that number now unemployment rate down to three point 7%. In the big thing and in really what we've wanted to see. Was continued growth in wages and we saw that with wage growth up point 3% for the month and wanna talk a little bit about the wage story because for the last year we've been saying okay when are we gonna get to the point where we can got consistent wage when is it coming when it's shown. It looks like it's showing up in its year. And I've I've been skeptical on this because we've we've gotten Charlie Brown so many times where the football sitting there are gonna go kicking and oops it's not there anymore. So here's what we've actually got a we go back to the fourth quarter of 27 team. Annualized wage growth over that fourth quarter of last year was 2%. In the first quarter this year came in at 2.4 percent. Second quarter this year two point 9%. It's now with three point 8% for the third quarter of this year. And that is the exact kind of number that we want to see so wage growth we've we've been waiting to see we've been saying when's a common winds come in when's it gonna be consistent. It's here and it's consistent. And it's out stand okay by the way some some things just think about here. It was about ten years ago right around this time that the worst financial crisis that we've seen since the Great Depression was really. In its throws a mean it was unfolding at this point everything was falling apart. Were ten years removed from that. In we have unemployment in the United States. At the lowest rate that we have seen since the Great Depression. Yeah. Think back to where we've come from in the last decade. It's being you know it's and know that sometimes we get kind of lost in the nitty gritty you know what's this month and saying what's that month can say ten years ago the financial world was falling apart. Falling apart and in that's not exaggeration. We were on the precipice of the whole thing just completely imploding. We sit here today and we have a three point 7% unemployment rate in the United States. I don't think anyone sitting here ten years ago would have guessed that possible. I don't think so it's it's really good to see us in this spot. But I also and not get old Debbie downer but I will for just a minute. These counterpoint to that is as good as things look right now. Doesn't mean they're gonna stay that way for the next ten years. Okay and so there are things that we still have to look at and watch for but. When you look at this jobs report again the headline number you say man 130000 jobs not men not quite what we wanna see. We've got really good wage growth we continue to see employment decline we've got more people coming into the workforce 420000. People. Coming into the workforce this month really good numbers that you're seeing in there so overall when you look at the health of the US economy. Pretty good shape right now. That being said there are some signs that what we're doing today. We might be plateauing a little bit as far as just the overall growth not to say that you're gonna you know start seeing this thing roll over and and you know start to decline. But hey that they're there might be a bit of a plateau to vet we BF talk about we've seen a little bit housing. And it seems like we might be seeing it a little bit in terms of overall I activity now. You were starting to see some pullbacks. In machinery orders a particular truck orders pulling back from some record highs yet how to get your take on this is so we are seeing a decrease in the number of orders for. Large you know hauling trucks get. You could look at as a few different ways you could say this is an indication that there are less orders out there less deliveries going on. Actually look at it maybe that's part of it. But we're having one of the largest trucker shortage in our national history we are having a very difficult time. Finding people to fill these jobs and there's 50000 driver trucker shortage the average young age now for truckers seven. 73000 dollars. You've seen wages going up in that area for eight to 12% per year my question is are we just buying a different way to ship these goods or is there truly. A decline coming in terms of the number of orders in the number of shipments that we're seeing across the country. I think that when we look at some of the other data that's good that the 6% year over year that matches up pretty closely with this decline in truck orders okay. And so I looked there and I say look there is absolutely a trucker shortage that is going on right now that probably leads to a lot of new companies saying they wiring in order tractors which sits around with no driver right and that makes sense. They're well done so what effort. Anyways what I'm trying to get that is what you absolutely have a trucker shortage it's probably affecting this. But I also think there is a plateauing that's going on right now just because that one time stimulant effect of tax reform start to wait Wear off a little bit. And I do think. That you have some international pressures that are reducing the amount of commerce that's being done overall. So we're we're been talking mabus to bear case scenarios talk about a bull hey if you're going to be bullish on this economy up. What is going to grow earnings for corporate companies over the next let's call it three years and we've got tax reform behind us. What is going to change whether the political policy whether because you know consumer behavior what's gonna change to make this US economy continue to. You know burn on all cylinders. If you look at the two biggest things that would have a stimulant effect over the next twelve months number one is getting trade deals hammered out with all these other countries not just neo re doing NAFTA sickening that squared away to see you don't have uncertainty from supply chain perspective. Number two. Infrastructure projects okay. Get infrastructure projects going. Figure out ways to get that money you know deployed and so forth we're gonna have trouble getting enough workers there still might even be something where we say look we need to come up with temporary visa programs in order to get workers in four. These infrastructure projects is we know we don't have enough construction workers today that happen I'm not US renewable case. US me the ball just that is the bull case as it now okay. So that's if you want that the most bullish case that he can have. Get all these trade issue behind us figure out ways to get in destruction and gets more people into the workforce in the short term. That's how you keep this party go on for the next 23 hours and that's that's the bull case so there's a pat there. It's Hoff. Okay he's out of sea the issue with China going away anytime soon. I don't see us coming up with any tech and any kind of big infrastructure plan that actually can get through congress anytime soon so. The bull case I think it's it's tougher to stretch that out more than twelve to eighteen months I think we still have at least another near two to three quarters at a minimum left here. Before this thing starts to get a little bit Dicey but look. I'll be honest if you continue to see wage growth like this. That's gonna stretch this thing out even more just because the concern is look if you don't have wage growth how to people spending can only borrow so much. If you have wage growth the question goes away. Yeah I guess the bear case here. If they may not be great for the stock market you know as you see a slowdown in earnings. That made a degree of the stopper but it's probably not that advocates for the average American worker I don't think unemployment is about to shoot up and I don't think that wage growth is not just. Depends what causes you know iffy if it's caused by just a shortage of workers and things like that. Yeah you keep you can figure that out eventually if these trade issues blow up and continue to get worse then. Then you got some concerns is their get supply issues and when you have supply issues you got prices going up not because you don't have. Demand for stuff give you problems actually getting stuff to people and it's you know we've gone through that with you know oil shortages back in the seventies and it we've we've talked about this kinda stuff before. It's not pretty if you see that so all of this does bring us to our poll question. It does and our poll question of the day is up right now. Upon financial exchange show ducked Tommy can go over there invoked. In our poll question is have you received more than a 3% raise in the last year. We say this or we ask this simply because we are talking about wage growth now we're finally seeing it. Early results. 32%. Of our listeners. Have received more than thirty at Morton's 3% raise over the last year 68% of listeners received less than 83%. And by the way we wanna know so eight respond to the poll but if you. Are someone that has or has not received. A raise in the last few years or the last year. Texas Texas at 63566. And tell us what industry do you work and where we're we're looking for some trends here I don't think we've quite seen any real big trends in terms of what industries are seeing real big wage increases in real small increases at least from our listeners but. Go on to punish restraint showed dot com. Participate in the poll but also should is taxed at 63566. And let us know what your specific situations. We're gonna take a break here when we come back there we're going to be talking about Samsung in their profits and also who was spending money at Costco as they reported earnings as well that is right after this break. On the financial exchange radio network. Have a question for Berrian jock now you can text us at 63566. And take part in the show at any time. Start your text with keyword and join our exclusive club days as the financial exchange radio network. Hi this is very are strong and I know that many view who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to -- you -- enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date has to last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way C need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our website Armstrong advisory dot com. Securities are with the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. Many of you listening today are most likely nearing retirement age and if you haven't -- deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to Todd for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting pouring into the retirement process you're going to want your trust documents to be prepared properly so your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new god -- designing the income will -- applicable trust that contains the specific language that must be included and more importantly language that must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. At 8668485699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange showed 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 and 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 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. 862. 1190s that 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information mass master license number 10. 183 again the number is 78186211. 90 hi this is very are strong and if you're a 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 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 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 will even send out annual interest payments directly to attendance -- called the Z deposit team to get started at 78164186. And 91 that's 7816418691. Or visit them online and see deposit. Dot net member FDIC leader bank a step ahead. The financial exchange. Cole or murdering an and also now in West Palm Beach, Florida. Check out our web cited financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. Susan good news for Samsung in the third quarter here they announced they expect their third quarter operating profit to be their highest. Every day the world's largest Smart. Bowman semiconductor maker and they are expecting to have a profit of fifteen point four billion dollars for the quarter yeah. Hey they seem to be doing very well they they even it's funny as they compete so directly with apple but there even generating revenue off Apple's iPhone and they. Supplies and the screens and no mistake and apple iphones witches. Somewhat surprised that apple would do that but. I I do wonder about Samsung's future you know their they are. In what way well they seem to be competing pretty well with the iPhone four yet the upscale customers but I'm not sure that they can really compete with the cheap. Chinese Smartphones. In the emerging markets. And they and they seem to want to do that they seem to want to compete on both high end and the lowlands mark. Which is usually a recipe for disaster wrecked you know that the case that I always reference there is and again it's completely different kind of company but it quiz knows the the sandwich shop okay. Quick note came in in their whole thing was a we've got these great toasted sandwiches and integrating greens and blah blah blah. And they were seldom spurred me on nine to eleven dollars and doing their thing and just chugging along. And then for whatever reason they decided they wanted to compete with subway. And it completely blew up their business model them because they went down market. The customers that originally liked them didn't anymore in the rule losing money on the news cheaper products just like Samsung's talking about here. And it effectively blew up that company and bankrupt okay. And you do worry a little bit about a company not sticking to its core customers not sticking. With what's worked at this point the other example that he can point to on the opposite end of the spectrum. Was JC Penney. Which made its name as a discount retailer competing with TJX is morsels of the world and so forth. And then all listen Ron Johnson from apple comes and says gee I'm gonna try to take us up market let's get rid of coupons let's get rid of discounts let's try to bring in new customers. It works didn't work stick to what you know. And you know talk to your customers. Treat them better than perspective customers as you already have people that are buying your stuff. To give credit where credit's due out summer Torre sixteen Samsung phones were literally exploding in people's hands. Catching on fire. If it is their argument is that they've moved up from there. It's been a pretty remarkable recovery to re garner their customers from that incident I'll say that's true yet. Today I mean had I a phone that caught on fire I mean I'm not currently buying Samsung probably won't. But they managed to reel the unit to step right front that say hey. We agree that you really screwed up we're going to make it better we're going to fix it. And they seemingly half. Go back to our poll question of the day have you received more than a 3% raise. In the last year's current results. Yes 28%. No is 72%. At the moment and continue to text is at 63566. As to. What you have gotten Ian raises or what you have not gotten rather not just going through the the text that we have here. I have from 860. 2.5 percent raise last January this is in the communications industry worked for cable companies. From 77482%. Raise working for the government. For 603 working in the steel industry received a 3% raise in the last year this one is huge year from five await. Mary I'm trucker received a 25%. Raise an additional benefits this year that's what I wanted to hear another 150 wait. 19%. Wage increase HVAC service technician. Those the kind of jobs that we're seeing we can't find people to fill I'm not surprised at all to see that from those types of positions there. Struggled a bit about Costco they. Pretty good quarter and earnings but down a couple percent today based on the what they say that lack of internal controls is is that the language that you asked about listening to the exact quotes. It was okay. Material weakness in internal control. But let's take that after me and just talk about their earnings they're comp sales growth. For the quarter was nine point 5%. And beaten mainly just driven by more people come in the stores it's not likely. They have rolled out some online shopping things like that they're not really citing designated growth factor this is really just more people shopping at Costco. Do you have caused a membership at a BJ's membership. What do you prefer them to Costco more locations around Boca. Who is really location dependent now I have to products error shot that both I don't see a massive difference between the Q some people. Live and die by Costco is in its way better ideas I don't see that David difference. The reason I got my membership in the first place by the way diapers. So I I was gonna ask you because I've been you know thinking about a big penalty costume BJ's wondering nation should I get one of these memberships at some point. But with just me and my wife I don't know what makes sense at. At this point you know I spent there's not much that we go through in that quantity at this point. If eventually we've got you know little mini trucks running around you know opened everywhere than yeah I would probably do need to get you know membership diapers and stuff where I am doesn't specify a diapers wipes. And milk milk and diapers you go through week. So to clarify I know personally I have three children under the age of two and half right now. Conservatively. Nazi. There's gonna scare the hell out of me whatever the numbers I know meat do. Over a hundred. Over so you go through over a hundred diapers a week easily hear his eyes so might twins each by run through. For today and infants at least double that. You're talking fifteen to sixteen diapers a day. He must have like these we're really high tolerance for are you Ed I. Decades ago do you see yourself as kind of lake a pit crew in a NASCAR race where you're just out there. And it used to be when you first started yeah it was five minutes to get it done and now you're like fourteen Astec I take pride in how efficient I am with just boom boom like Vietnamese changed those tires get them out don't get him back gate it's impressive you know I I've received compliments on my. Speed and efficiency in the diaper change so yeah. And again the BJ's membership easily pays for itself alone on my diapers so that's that the entire reason for myself. They have their own branded a percentage of cost but that probably. Saturday at the buy Pampers. And BJ's branded diapers. Stick a quick look at markets as we near the bottom of the hour here Dow Jones off a 132. Points S&P off ten NASDAQ off 73 so continuing yesterday's sell off. This is largely on the back that interest rates continue to rise with further selloffs. Ian in bonds right now the US ten year treasury now at 3.2 2%. That is up 25 basis points or quarter percent over the last two weeks now. The reason why that has an impact here if you have higher interest rates at potentially slows growth and also win BO com mr. building their miles for stocks. Factors in on that front as well so we continued easy higher rates coming through. And I think that Veoh largely it's on the back of a very good jobs report with. Good wage growth for being the third quarter now. At this point gold is up four dollars an ounce to 12105. At the moment and take a look at oil which has been in the spotlight over the last couple weeks as it has seen a significant bump. Oil is now at 7475. On west Texas intermediate were 8464. For Brent crude at the moments oil prices. Move up just a little bit today not a ton of growth there. But oil prices. Continuing to rise just a little bit. GE bringing in a new CEO we talked about that earlier this week and actually. We've got to go to break in just about. Five seconds so we'll save this for after the break we're talking GE's new CEO. And how much he's going to be getting paid right after this break. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd lets you as a message for you there will help you through the process many view or listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting -- into the retirement process you're going to want your trust documents to be prepared properly so in your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new god told designing the income will -- applicable trust that contains the specific language that must be included and more importantly link to must be avoided -- your trust in order to protect your assets from the nursing home it's -- for free by calling 8668485699. Minutes 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Hi this is very are strong and I know that many of -- who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to -- you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date passed the last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way C need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our website Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated are. You're having problems with 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 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. 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 calming at 781. 862. 1190 that 781. 862. 1190. Or you can visit them online at easy plumbing MA dot com for more information Massa master license number 10183. Again the number is 78186211. Nine no I everybody it's Berrian chuck from the financial exchange or were having a conversation today. Regarding retirement income and chuck it strikes me you know we go to work every day we put money and are 41 K plans typically it's going in to. Mutual funds or exchange traded funds that we're using to accumulate wealth. During our working yours are high earning years. That whole equation changes once we retire and we hit age 6570. And we say cheap son of a gun I need to take some income from powerful. You gave it really does change and specifically war go to Morgan income generation mindset and it's difficult today because if you look at a lot of the ways that people historically did that CDs yielding 5%. Bonds yielding five or 6% her you don't have those tools available anymore seat need to make sure that you're still adapting your portfolio to the new demands of retirement. But you need to make sure that using the right instruments and so that can be a combination of dividend paying stocks it can be equities that you simply think gonna grow and pull little principal off there. As well last in the right mix of bonds they can generate some income as well what about municipal bonds is that something people use. It is of particular fewer in a high income bracket it's something that a lot of people use that we tend to target simply because the tax efficiencies you gain there can be significant if he'd like it. Copy of our October guide call 803934001. This guide will help you. Design and develop retirement income from your investment portfolio 803934. Zeros or one. Or can download right now by visiting our strong advisory dot com Armstrong advisory dot com or 803934001. 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. And well. Larry Charlie can the financial exchange on FaceBook FaceBook dot com slash the financial exchange this is the financial exchange radio network. And then change. Who can unbeaten. So General Electric brought in a new CEO this week for the second time in about thirteen months. And they're going to be paying him 21 million dollars a year for four years because that's how much you pay the CEO GE. Remain after the like a weekly segment on the new geez you. So here's accessory it's you know so I was talking to someone about this the other day. And here we are going through it. And without talking about you know salaries and so forth but we're saying okay so you made a management change less than a year ago. What makes you think that the same group that made that change is gonna get this one right if they got rid of the previous one within a year. At a now. And I wonder what made you there had to be something in particular. That makes use. Make that change us just short term basis that there had to be something there that it's it's not just poor stock performance their estimates the other thing you know he's only there for what a year and a half. And it's what makes so when usual. Is this was someone who was a GE lifer he had been there for thirty years he figured they would have a good handle they know what they were getting into. But something just didn't click and so now you have. Lawrence Culp who is taking over and again he's going to be getting 21 million dollars a year. For four years but the potential for a ton of extra compensation. If GE's stock price goes up significantly. Well sure I mean it's here that. You know board member up and whatever he wants if he can quadruple the stock but it you know what's the real likelihood of that happening is him yeah. Wall Street Journal points out all to make 300 million dollars if he. What it doubles the snow quadruples the stock and wrong you know with the likelihood of that. So. Yeah half I don't know what to make it this and I I'm so sad about this state that g.s in and I just don't know what their future really hold. Think anyone does and in it it comes down to what are they going to do better than anyone else and no one I've talked to can answer that question it's it's all. Well they're gonna clean things up in the getting get rid of some of the stuff that hasn't worked and so forth. Don't care every company tries to do that on a regular basis. I wanna know. In in six words or less tell me what you're gonna do better than anyone else don't make it well we're gonna. Tell me what what what's where's the meat what's what's it gonna be that you do that no one else can do I can go to apple Apple's gonna say. Ecosystem ease of use and simplicity. And boom you've got apple in a nutshell then I'd go to Google and its. Find anything you want anyway. Well I got to go to Amazon buy anything you want anywhere you can sum those up and what they do better than anyone else in five words. What do you do with GE. Well wind turbines and jet engines and that he did you just you can't get there. Like he had the title of the article for fortune g.'s new turnaround plan make the CEO very rich stock grasses. It's accurate I was going up and accurately so I don't we got this CEO announcement with no announcements of their plants a no announcements of how they're changing their business. We've now reached the point in the week where we have our. Weekly segment on the craziest food that we could find in any given week. That is being sold for public consumption. And this one is not to celebrate its 3000 the restaurant opening. Pop eyes. Is offering. Four I guess this was yesterday only yesterday regarding missed it we missed it. But they were going to be hand battering greens. In champagne in the encoding them in 24 care edible gold flakes. For five dollars up only four locations are New Jersey which was the third 3000 location opened. Looks like Manhattan nurtured for ones and noticed when a Manhattan. One in New Orleans and one and mean and for the OK why Anaheim. Why like I could understand like the other one's kinda makes sense but I just I don't understand Anaheim and how that fits into the master plan around. You ever had any if you're ever eaten anything it's got golden at. No I just it's just I was just curious you know eleven of wasn't accusing you of anything you just a question. You got a little defensive there's now wondering if maybe you did you know I ordering their I've got a bottle (%expletive) I don't drink champagne and I've got a few bottles of champagne at home so now on thing about just bring him. Maybe I'll just hand matter some chicken and deep fried this at this afternoon. I didn't even know the good battered. Chicken in Champaign I mean I guess like beer battered thing yeah so different it's got to be yes somewhat similar yes of flowers on them but yeah. As you mention though while eating things with gold in them is is kind of a trend here there especially in New York I guess. In New York when you just have too much money you literally start eating it. That's like the point the people of gotten to get us at the Westin new York Times Square was serving 8000 dollar bagel. With gold flakes Erica is yet thousand dollars on a bagel sounds good. There was a 214. Dollar grilled cheese with gold at serendipity three. And also a thousand dollar gold and opulence Sunday if that's not like the biggest screw you to poor people. That's right there like. Not only you know am I worth enough money to spend 3000 dollars and grilled cheese but I am literally going to. Consume it and then you know. Passage back out of my system I don't care that much well it's. It gets even worse in July grain veil Los Los combos resort. Started making a 25000. Dollar taco with a gold infused corn tortilla. For the person who just doesn't know what to do with their money guys goal doesn't taste like anything and has no sense of you know other people suffering this is the meal for you it's like it's really kind of awful to be honest but I guess but people buy it. Because they can't. Like it's it's literally turns into gold plated crap. There's no other way to put it. So that's. The latest for us folks do you have a trust to protect your assets. If not in if you're closing in on retirement in this message is are you planning for retirement can be complicated so it's best to deal with an expert who can advise you on the many elements. That'll affect the process including. How to keep your assets out of probate and protect them from the nursing home. Todd what is a partner with the law firm of Christian and dole and more importantly he's also an expert in elder law. These new guide out this month. Will help understand. How to design a perfect irrevocable trust. And it will also include the exact language that you need to protect your assets from probate in the nursing home. The guy is yours by calling 8668. Horry. 5699. In on top radio show the legal exchange he always discusses issues that affect you in later life. So if you're retired if you beginning to start your retirement planning if you questions about your existing trust need to know what kind of trust is right for you. Call 866. Eight Rory. 5699. Right now and ask Todd brand new guide how to design in income only you revoke Coble trust that's 866. Eight story. 5699. Or download it right now it legal exchange oh. Dot com. So I always like to keep and I and the battle of the nerds specifically. Via the nerds in down moments with regards to it would universities actually have the smartest people managing their money. Stanford. There endowment grew eleven point 3% last year they beat Harvard which is always good for me to see always loved being harbored. They didn't beat Gael well now and both all of whom failed to ninety. Is that right now I always said MIT has the fasteners that. They do MIT return thirteen point 2% over the last year. Stanford again eleven point 3%. Yale twelve point 3% what time period mr. the 2018 fiscal years I'm guessing most of those clothes in you either July or August depending on when it is. And Harvard returned bowl just 10% so. Deal with Harvard I guess is the message here on this one dale interestingly enough. Investing in a crypto currency fund that raised 400 million dollars I'd heard of many other endowments getting in. This kindness now it. There's there's so much money in these endowments that they oftentimes you get into some interesting news new stuff notched a 400 million dollars from the college drop in the bucket for the endowment but it. Sort of it is for yeah. Yeah I mean it. Certainly kind of as I just stimulate you look how poorly crypto has performed over the last year mostly because. The vast majority of them seem to be complete scams right you know and and so you sit there and say. It's it's still 400 million dollars lake. You know if if you just invest that normally. You wouldn't lose it all in one night potentially which is literally what can happen is so I just wonder about it a little bit. Let's take a break and when we come back we are going to be joined by Paula Monica. From CNN business and he's going to be joining us talk about Constellation Brands that is right after this break on the financial exchange radio and. We have part of the financial exchange in an instant by texting us and 63566. Started to extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Break here on the financial exchange radio network. Many of you listening today are most likely nearing retirement age and if you haven't dug deeply about planning for your retirement Todd -- you as a message for you there will help you through the process many view -- listen to -- for years on the legal exchange radio program know that he's an expert an elder law in the state claiming so you're just starting or into the retirement process you're going to want your trust documents to be prepared properly and so is your assets are protected from the nursing -- it takes five years to secure that protection and you need to make sure that you are wasting your time in your money on legal documents that don't work this month Todd has written a brand new god -- designing the income will -- applicable trust that contains the specific language that must be included and more importantly -- -- must be avoided in your trust in order to protect your assets from the nursing home it's -- for free by calling 866848569. Million that's 866845699. Don't delay did your guide today at 8668485699. Or downloaded right now from our website legal exchange -- dot com. Hi this is very Armstrong and if you're a 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 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 even send out annual interest payments directly to Tenet's -- 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 step ahead. Are you having problems of 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. 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 78186. To 1190s that 7818621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. Hi this is very are strong and I know that many view who listened to my show are retired or nearing retirement age if you don't have a sound financial plan to lie you do enjoy your retirement you need to get my brand new guide on how to develop a retirement income strategy this guide will help you understand various elements that are critically important to your plan whatever you saved to date has to last for the rest of your life so you're going to want that money to continue to grow over time even when you start drawing from it another consideration is the volatility in the stock market we've seen the bull market continue to flourish but there have been many considerable ups and downs along the way C need to make sure your portfolio can handle that call me right now at 803934001. And get your free guide how to develop a retirement income strategy that's 803934001. Rican download it right now on our web site Armstrong advisory dot com. Securities offered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities America companies are unaffiliated. Security suffered two securities America each member finreg SIPC. Advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. Business news is constantly break. And we are here don't break it down and show what it means to your portfolio it's the financial exchange with Barry Armstrong and chuck soda on the financial exchange radio network. Joining us now on the line from CNN business is hall of Monica here to talk about Constellation Brands Paul thanks for joining us. Poland with a look of this company that the first thing that obviously comes to mind is the big investment that they recently made. In Canada's company can't be growth they took a deadly four billion dollar stake in the company sixty weeks ago now. I'm curious what your thought is on win that potentially starts paying off for them. The other deal hasn't closed yet it should assessment and later this month and you know the CEO Robert here is very optimistic. Now the prospect for you know consolation you lead generating enough revenue from Tennessee product related it's probably not going to be. In the US and India Indonesia the cops yesterday you still have. Federal laws prohibiting sales even those there's some that are starting. Two entities by case basis that you have you know eagle on marijuana but as right now there's no. Evidence that that closely and go in the US within its products just yet but you know legalization is coming to Canada and if you we. Where. Excited about what that polygamy or author develop market and the constellation sees this as a that it erupted when it out there playing off and they're not saying that this is to offset the decline. Here in one another on beverages that business is doing quite well for consolation Coke or is that. Be yourself rebel percent but quarter nothingness that there. Bush and beyond just the the big brands I think that a lot of people were familiar with constellation also has been over the last five years investing in a number of different craft brands most notably balance point where I think it's been a billion dollars to buy them. A few years back in in that turns out that that's been a pretty good move for them given where beer taster going in the US. Got definitely I think that has been a Smart use see other big beer companies notably. AB in depth where you the making. Its investment in. Call or crackers like burgers but I think in the east of consolation today you know adding to be crap element. To be an adult lines which are. You're in that actually are still rolling. In in the US so while I think there's been a lot of talk about a backlash to be the year where there's been August. Some of the more well known not most recognized for like like Budweiser in dye course by a it hasn't really been something that's hurting now or at all. Good Paul who had to go will catch up with the next week enjoy the weekend. Paula Monica from CNN CNN business but Brendan named by the way. Check out the website this morning actually pretty good against good stuff on there all Monica from CNN business talking about Constellation Brands. And where they go from here. Let's talk about where. Iranian oil as potentially going from here. Europe and this is a story out of the New York Times. Europe apparently is working to try to figure out a way to actually of babies news sanctions that the US going to be putting back on Iran. In the near future what do you make of this Mike Annan. What I make of it is the Europeans are desperate to keep this deal that they fought for place. But it's likely not going to work what they're trying to dump it. It's very very difficult to move money between countries without a bank involved. It's incredibly difficult it yet you're subject to. You massive. Risk by not using a world wide bank and if they do use a worldwide bank in the US is gonna hit that with sanctions. I think you also have a tough time convincing big companies to go to any business in Iran right now. Like to talk for instance French oil company had a bunch of plans to go invest and I ran. US sanctions put back and they said yeah you know what I know this isn't a French law. But if we do this we're not gonna do any does in the United States and we're gonna get crushed and so it makes no sense I think any. Large company is going to shy away from doing any business that rain so long as he sent US sanctions are in place. I think what we're seeing right here is the tip of the iceberg as far as. The push for a number of countries to move away from the US dollar we've seen obviously China Russia and Iran. Talking about doing so and I think the fact that Europe is sitting here saying. The most important thing too Wallace is being able to get Neil our energy needs filled rather than where that comes from and I think that's the message that they are largely sending here now. As you said it remains to be seen whether or not they actually go through with this. But the fact that the discussions are taking place signals to me hey look they're willing to at least consider a world where they don't necessarily use the dollar as the primary means of conducting international commerce. I would be very concerning the Europeans teamed up with say China to allow the Chinese currency to be the one traded in I ran. Four you know from the barrels of oil that are moving and out of that country that would be. They paid an important first step it wouldn't be significant to the impact that dollar going to be an important symbolic first step. This is something again I've been harping on this for the last year so. This is something pay attention to this that it. Because what this means when it's also and on the reason why. The US is able to finance its deficit to the reason why the US has been able to finance its growing deficits over the last thirty to forty years. Isn't because US citizens went in started buying up more US debt. It's because internationally. Europe. China India all those other countries said yeah this makes sense will continue buying this up and in funding your deficits. As of the last three years that's effectively stopped they're not buying any more on a net basis and so if you see a further push away from the dollar. What that potentially means. Is that it becomes incumbent on us to finance or deficits internally which we've never really wanted to do we've never really had a huge appetite for book is quite frankly it gets it's not. Good to do definitely get it. Crowds out other spending another. Other lending that you would potentially be doing so this is something to watch McCain not so much because of what it means in this specific instance. Book because of what to potentially signal as a big shift over the next several years yours to keep this story in mind. Mike you've got. Three young daughters now featured U2 of them just north of two years old. And we've got senators now call for a federal investigation of children's apps as to. Whether or not to these apps are misleading by misleading parents by labeling the gaps child friendly enters your thoughts on this you know way more about the snide. I mean the basic story here is that there's a bunch of free apps both in the injury Lloyd Amazon and apple stores. That are collecting way too much information on children and while that's maybe okay for an eighteen year old. Nothing should be collecting. You know location data phone numbers. Or email addresses for five and six girls that's that's. In the game very clear red line that shouldn't be crossed and it sounds like there may be existing laws on the books here that are being broken and it may seem like there needs to be new laws from the placement. Specifically location data on children is now so it should be shared little critter right yeah. And viola creepy and mean incredibly creepy now. That said shame on parents or allowing that to happen. Agreed I get a group that. That day do your research on what you're letting your kids do entirely good but in this day and age the companies or at least somewhat responsible for that. And as well good for the top of the hour now a quick look at market Dow off 247. Point continuing yesterday's sell off. As rates continue to rise S&P and NASDAQ in negative territory NASDAQ really go through steep sell off off almost one and a half percent today. So all the time that we have for the week. Enjoy the weekend will be back here on Monday with more financial exchange.