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Full Show 11-2-18

Nov 2, 2018|

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This is the financial exchange with the very Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day your city your world. Stay informed and up today about an economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and chuck Exxon. Jobs jobs jobs jobs jobs jobs. Jobs just what we are talking about today we get the BO as jobs report the unemployment data for the month of October here. The first Friday of November and so they give us this lovely Christmas present vote it happens after months of not it has president's. It's a monthly press guys we we get this present delivered to our office on the first Friday of every month. 8:30 AM. And we are upon when the walked through today this one. It's that there's some really good data in here there's some data that is so so but most of it's really good to be honest so. If anyone is telling you otherwise. They're not really look at what's going on here is this is a really good jobs report chucked out of Mike Armstrong here Barea is out for the day might. Do you feel as optimistic on this reported I'd. Yeah I do. The markets. We were up a lot more before this came out and I think that's cut to be expected it is a very good jobs reports from the best numbers we've seen since. Really the bottom of the financial crisis. Can we give a little bit of context and go back to last jobs report here and remember just how the markets reacted to that because I was pretty I was kind of shaking going into this morning wondering what was gonna happen is jobs report and how the markets were going to so. I still am shaking here's why so the last jobs report U member we got a little we got waged information that was a little bit hotter than expected. And on the date of that job deport the market actually was up slightly. And then the following week everything fell apart Joseph in the market corrected 10% drop in the stock market. And most of it. I think you can point to that jobs report that we got on September. You can't and here's why is the concern that we had in that the market had. With regards to that report was that inflation was heating up and that the Fed was gonna have to hike rates more rapidly. And so we saw the ten year treasury go from I think about 295 up to about 3.2. In a span of a couple weeks it eat it happened quickly. And that was just too much for the market to handle in the short term. I do think there's a similar concern here and that would this is a pretty good report and I do think and in the next month or so you may see some weakness becomes out of markets as a result of that simply because. If we take a look at what's going on the ten year treasury it's gone from 314 today up to 317 right now so you're seeing a sell off in bonds. And that suggests that paid you know we're going to contain have higher interest rates which does potentially slow parts the economy like housing. Let's get to that the second chair. When we take a look at this report the last three months now we're averaging 2181000. Jobs created. Really good numbers pretty much we've seen those numbers just about the whole year this year we've been great in that 215 to 225 range. For most of the year as far as the average numbers what's interesting on this one okay. When we talk about what's happening with in the labor force. Big big dip in the number of people that are not in the labor force 487000. People coming back into the labor force compared to the prior month. To big number push up that labor force participation rate the number people who were either working or looking for a job. Up to 62 point 9% up from 62 point seven. Good number to see there other things that we can glean from this there's two surveys that are done his part of this jobs report. The headline number the one we'll talk about. Is the establishment to its what are the big companies doing they surveil all these big companies say hey hiring yet firing what what's going on. And they use a model the can aggregate and fill in the gaps and so forced. That's the one that showed 250000. Jobs created. The household survey. Okay they also interview individuals because they say hey we might necked all the picture from. Companies we got interview individuals to. This household survey showed 600000. Jobs created this month now there's an economist that I followed the University of Michigan by name Justin wolf first. Who uses what he calls 8020 ratio on this the panic come to an average between these and figure out and brittle I think the things actually are. He takes 80% of the establishment number and 20% of the household number ads and togetherness is a this what I think it is. That number this month okay comes at north of 200 of 320000. Jobs created under 20000 jobs created in that month of October and that's what he uses kind of his his you know okay what what do I think is actually happening so he's day saying hey I think there's about 320000. Jobs that are actually being created this month so we got good numbers there. Wage growth this is the one that we've been talking about it wait for I was the one that I was nervous about. Came it in line with expectations up point 2% for the month for the year now we are at north of 3% wage growth okay over the last twelve months for the first time since the recession. Yet wages have not exceeded that 3% year over year growth since April of 2009. And that's. I mean that's that's true Zhi pretty incredible you know we haven't seen this wage growth since. You know at that point in time where the market. Really was at its bottom. There have been mass layoffs all the way through 07 and away and 09 you were just starting to see. Some of those wages come back after this huge huge layoffs across. All sorts of industry now that the numbers here as there suggest as they're laid out. Don't necessarily suggest an acceleration of the inflation pressures that we've seen building for the last few months which is why I don't think this market has fallen apart. To date you know you you still market where the Dow and SS appeared positive territory nasdaq's a little bit lower based on apple and we're gonna talk about that in just a little bit. But it's. This also does not show any deceleration. In terms of inflation pressures as well it's kind of a what we've been seeing over the last few months. Pretty much still there it's it's the status quo is maintained at this point is the message that I get from this you don't have accelerating inflation in these numbers here. But you certainly do not have anything that suggests inflation is going back in the ball don't go away. So most the reason the markets have picked up a few percentage points at least over the last couple days have been commentary out of China. Could this offset that. Do you think this job court has anything that could knock hinges off of that in what way. Just looking at the markets over the next three weeks. In in in what way I'm just trying to work through so let's say that there let's say that the status quo hold still and which is you know we're talking to China but we're not doing anything yet on its because we got the comets at the White House that. The dad. We're having conversations but nothing's really progressing and could this jobs report send markets down into a spiral of the next few weeks yes. Yeah it it could it's. I don't know if it's necessarily likely gonna be just because of this but this is a market that's unstable to begin with right now yeah any time you know I always tell people look everyone likes to talk about volatility on the downside. When you have a 400 point positive day it's still a volatile market it suggests that the market doesn't quite know how to value itself. You remember in the spring it took three months to kinda sort out the volatility that we saw back in February through April. You know we're a month through this now and I think that there's just deity you have to have an expectation. That it's gonna take a little bit at times. So target ya I was gonna say chuck marchers sang something along the line just today at the end of the show where. Today's jobs report we received good news that could potentially be bad news in the long run yes and and that's kind of what I'm getting as this could get something where. You know again you're seeing interest rates move up as a result of us Britain and that's kind of what caused a little bit of the dip that we saw. Ian in the month of October and so. If borrowing costs go up as a result of this jobs report which the initial numbers suggest take you're seeing a little bit of it though of a bond there. It is something that could end up. Affecting this market negatively here so I think. The big thing that I gleaned from this if wage growth could come in faster than this let's say the becoming faster expectation. And a half percent you know that's one where you say okay it's it's almost too much of a good thing and you would have had a bigger sell off in bonds. This the headline numbers good in terms of pay 250000. Jobs created it's good. Where you kind of not an act goldilocks range but it's if it's not true hot right now is that wage growth it's kind of been that sweet spot at the moment. And Sophie becoming hotter I think that you would have seen a sell off. Yep I agree so in terms of where the jobs came from this month. Education health services adding 44000 jobs leisure and hospitality adding 42000. Professional and business services adding 35000. At the top three also had big gains in manufacturing. Construction and transportation as well. So we really across the board in terms of areas that I expected to do well. Did pretty darn well. Yet it there's no actual there's no area here that has any. Negative numbers as far as job growth for the months just and deceit it's it's good to see you that. And also talking about one of the numbers that we tend to bring up here as well. Is what we call the underemployment. Rate not just you know how many people don't have jobs but how many people. You might have a part time job in that one a full time job we use a measure called the use six that's the underemployment rate. That's down to seven point 4% right now. If we go back to a year ago. That was it 8% now Casey you're seeing it decreased not just in the number of people who are looking for jobs but also you're seeing a decrease the number of people. Who have part time jobs that want full time. You know where I see a little bit of a disconnect here when I talk to people that are still not. Satisfied with the job market they're seeing what this none of these numbers account for the fact that. A lot of jobs in certain industries have purely disappeared over the last few decades. Just opposite our allies tundra a radio show host and did that job has just sort of stagnated over the last few years. Our job body into but he points out that no yeah if I were working in different industry if I was going to be a truck driver than academic a heck of a lot more money that could have fifteen years ago and that's what these reports don't point out is that yes certain industries are doing quite well but others. Are stagnating or decrease. Let's take a break here when we come back we're gonna talk a little bit about where US China trade talks stand at this point we had a couple comments coming out of the White House this morning. Where in a breakdown where things stand on the trade front. Right after this break on the financial exchange radio network. Breaking financial news. The financial exchange with Barry Armstrong and chuck saga on the financial exchange radio network as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. 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No. Hi everybody it's Barry Armstrong and I'm joined today by executive vice president from leader bank mr. It's called the Zuma rewards account and the thing that really caught my eye on this account is. It's a savings account but sort of again if you guys are providing two point 05%. EPY. On that account how do you do. Yet it's one of our most. Popular. Retail banking products vary so. It's it checking and savings companion product the Oca and if you qualify. You get some great reward so for example you 2.0 5%. EP wise your savings account up to 400000 dollars 100000. You get 1% cash back and all of beard he's suspending your debit card that's good and get ATM reimbursements if you use another thing seats you know. And so do qualify I'm traveling in a Matta town there's not a leader bank branch nearby. I can use that ATM card number and be reimbursed the three dollars order exactly. That in so the benefit of that is that really expands or breached network yeah he's in need Yan. 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Join our brand new tax club by texting the word buried 263566. To send your first and last name and get involved today you're listening to the financial exchange radio network. Or spent the first part of the hour going through the jobs report today showing a very strong job market still. Despite some questions about can Wear the future goes I think for the US economy with some potential slowdowns. Coming to job market still red hot one of the concerns out there in terms of a slow down. Is what are we can get a resolution to the situation that's developed between the US and China I called the situation. You probably called it a full blown trade war at this point yeah. Where do we stand as of this morning what what did we hear coming out of the White House well there's. Mixed messaging so one there was some messaging that said hey you know we are making progress and and that news was that the US is going to get a list of firms demands to China that. That we want to see in two results of these trade tariffs. Unfortunately. Depending on your position unfortunately an hour later a US official came out and said actually no we haven't made any progress on this there was conversation that was. Nonetheless. I took this is good news is all yesterday. This came out and this happened. Clearly the markets are happy about it Asian markets opt. You know from two and a half to four and a half percent on this news. Overnight so clearly there's some positive and I just about anything that could come out on the story would be perceived as good news. Walters look you look at the data in China and there is. Pretty much complete rolling over most of their industrial statistics right now. You take a look at the United States none last Friday we get the GDP report for third quarter that showed fixed investment in the US also appearing that it's starting to roll over so. Both countries at this point kind of sitting there saying. She would really like to get something done but the question I have always come around to is how do either of these countries save face. In negotiating. So yeah that's the that's the big issue and both countries are terrified the scenario where. They A put out an offer and and the other country publicize and that's you know that's what's really prevented I think from either side going in and saying hey. Here's what were willing to do because. At the end of the day. Less so in China but it especially here in the United States trust and have to answer to voters less so she's doing paying a he doesn't really need to answer to anybody but. He will need to you know if if something comes out about negotiation he makes the United States. The problem for him as he's gonna have to face the same negotiations with all the other countries out there. What does the US have to come away from this witness in order to save things. I think that the United States needs to get some sort of deal out of China that says we are allowed to US companies are allowed to do business. In the country with some form of autonomy. No sir how does China save face in that same negotiate a touch it and that's where I get to one this past. I see the path forward to getting it like that there's things that you can do where it's like okay look you can figure out how to get a deal done yet. But how do you Seles of the party leadership on either side doesn't get smoked. Back home domestically. And again as you said it doesn't really matter in China right he's not going any. Now perhaps she can. Extract some sort of financial value out of that so saying hey you can operate in China. As an independent autonomous company and we won't steal your technology but we are going to Levy some sort of tax on that I guess I just don't know I don't know how they can how they can walk away with that and save face. In Lessig gets so bad to the point where you know again which we're seeing happening where you are US companies are being told by the by the government that hey you can't do business with these companies anymore and if that continues then perhaps that's the way that trying to save spaces. Hey we've done this and because of that. Our companies that we have backs and these Chinese companies that we have effectively created and that are going to be allowed continued to exist. Now at the same time that this is going on you have the United States the Justice Department. Unsealing charges yesterday against the Chinese state owned firm and its Taiwanese partner for allegedly stealing trade secrets secrets secrets. Sequence and and lastly what happens. And that bank teller fraud stealing trade secrets. From the United States' largest memory chipmaker Micron Technology so that's a direct quote from the Wall Street Journal. So at the same time that the drug administration saying hey we think we might be making some progress we had a good conversation. You've got the Justice Department. Saying. Oh by the way here's something that we're gonna be a publicized on this exact same day I eat it suggests there isn't really a whole lot that's actually changing it is. Now I doesn't clearly there seems to be a disconnect between some government agencies and the executive branch here in terms of trying to time these negotiations because. Otherwise you might have had them hold out for a little bit by the effectively you know if these charges go through. It would pretty much prevent any US company from doing business with. A year ago Fuji on. Junior like integrated circuit company. Thank you might have been bad too. Could have been a completely. And correct but it you know this the company that the Chinese Government poured five point seven billion dollars in two they don't wanna see this company just. Disappear which is what would happen if these charges. Poulter and the attorney general Jeff Sessions. His exact words are in 2015 China committed publicly that it would not target American companies for economic gain. Obviously that commitment has not being kept so he's not really mincing words here on this you know coming up pretty strongly saying. Guys you did exactly what you said you you wouldn't do it. So it's is it certainly raises questions there in my question that on that is silly you have that statement being made. That potentially undermine negotiations at this point where you say look if you're making this deal here we made a deal with these three years ago when you didn't keep it wired you get how we know you can keep this deal today. Exactly made it very difficult to. It's a very difficult negotiation the big tell is going to be the G-20 summit that's coming up is that what the dates is that late November I believe. It is after the election and that much elections what three days with three work days away from November 30. Through December 1 at the end of the month end of the month we're gonna have the G-20 initiation that is way and that trump and pain shooting pain we're supposed to sit down. It could go one way or the other on this that they might not even see each other at the G-20 summit if things heat up too badly you know countries are in the G-20 by the way. Lest all of them right now how many think you can get. Let's let's aim for over ten over 50%. You got ten you've got twenty seconds go US Canada Mexico. UK France. Germany. Italy Italy Spain Japan. Russia China Russia. Who. Japan. Artists at r.s edit five seconds. I was like. Thirteen here got it will not not all of them are in. Seattle this regatta left and I tell you got eleven the other ones that you didn't mention Argentina. In Australia. India and Indonesia. Saudi Arabia South Africa South Korea Turkey. And the EU also has represent well and South Korea that wasn't sure about them pretty good. That's pretty adept not bad just off the top right there itself that is not the G-20 case anyone wanted to know. We're taking a break when we come back we've got Wall Street watched and also digging into the big quarter for apple why investors were a little disappointed there right after this break. Like there's something. I was 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. 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Dot net as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of -- let's -- senior partner with -- -- -- of -- in -- can help time -- an expert -- estate planning elder law and taxation and if you're in the process of legacy claiming you need to call him right now and get his new free guide to gifts or not a -- in it you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that you'll need to consider as you begin your planning -- call 8668485699. And get this free guide to gifts or not a gift that's 8668485699. -- Dolan has over thirty years experience helping families like yours let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got -- deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. 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Or visit leader bank dot com not a deposit not FDIC insured uninsured by any federal government agency on 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 -- hassle out of -- today we're zero and leader banks all mine rent collection tool he -- automatically -- tenant's rent and deposited into your account visit www. C Rand dot net to learn more would see rent your payments for each unit to receive regularly on the same day every month tenants pay nothing in the first six months -- free for all landlords visit WWW -- see rent dot meant to learn more or call 7816418691. Time now for the street watch a look at the market's performance so far today to marry in shock right here on the financial exchange radio network. Time now for Wall Street watched brought to you by leader bank with the leaders Zuma rewards account to get 1% cash back with debit purchases and then an extra 10% back. When you use your card featured businesses qualify for these and other rewards cult leader bank 877691. 7900. Member FDIC. Michael struggled a bit about Weight Watchers this is a company. That had been through the roof over the last couple years ever since Oprah got involved. Now back in a thickest point fifteen when she first announced her involvement the stock went from 615. Up to a high this year of a 105 dollars a share. It's at 49. Right now after Dow being down 28% today what's going on here. Had just Dixon continued misses on earnings expectations is really the key here earnings came in 94 cents a share which was below estimates. Five cents short of estimates and the revenue really missed expectations as well. It's really all about revenue growth at this point and it's not like in what people see here I don't know what is causing this huge messes but. Stock is down 29% of you said really far off their peaks from earlier this year. What are the numbers that we talk about on stocks some time to discuss how volatile they are compared to the market is the number of beta beta is reference of how volatile stock is compared to the market. Weight Watchers has a beta of three meaning an average it moves three times as much as the overall 100% the volatility S&P 500 pretty incredible to to put that in perspective. What what's another stock that we think is typically pretty volatile. Tesla sure. When we see what what we have for Tesla just as a point of comparison. So Tesla is beta just by comparison. Is point 89. So they yelled just a little bit information for you there. Out what's going on with seem pretty financial first of all who are they exactly there seamer yes or what's going on cigarettes. Secret if an Angel is the former. Exclusive credit card company to Wal-Mart so if you ever got a Wal-Mart credit card users and current financial. It made up a very big chunk of their business and recently. Is it the end of 2017 year to begin a 2018 I believe. They replacing Ernie wins Capital One is now the exclusive offer of Wal-Mart credit cards. Wal-Mart has filed a lawsuit against and corny saying that be basically broke the underwriting standards that Wal-Mart had agreed to with them. And effectively are you know charging them with. Hundreds of millions of dollars. The lost revenue because of this guy Wal-Mart is slightly up on this news and sinker and he is down about eight and a quarter percent on this announced lawsuit. By the way in directly. This is. Technically at some level also bad news for General Electric Sigourney used to be a subsidiary of GE capital's so even once you leave the GE. BO umbrella apparently. You're scenes do not still leave the zone something they still have to deal with that is Wall Street watch presented by a leader bank and with the leaders Zuma rewards accounts. You get 1% cash back with a debit purchases and then 10% back. When user carted beach businesses qualify call your bank 877. 691. 7900. Member FDIC. Let's dig and apple we've we finally got there we were talking jobs we've been talking trade we've been talking sink Ernie. Now now we got you know the big one here as far as earnings report you know Apple Stock probably one of the is there any more followed stock in the world do you think. It's it is the most. Viable company and still it's still just north of the trillion dollars and valuation dip down briefly. In some early trading. But apple. Still posting you know record results for the quarter but. Some things that under the surface showed that their company it's going through some changes analysts as a result seems like they're discounting their view of apple don't. Yeah so first things first they are not going to be breaking out to revenue or sailors sales by product anymore so you're not condone Metallica this iphones sold this much the iPad did this much volume they're getting away from that. They claim it's partly because they're focusing on different revenue segments specifically their services are starting to make up more revenue and they really don't want to get into you know which iphones sold that much this this quarter verses that corner exit and it's moving their stock price a little bit too much. They've been you know a one trick pony to some degree for quite some time witches. IPhone sales moves their stock price. So getting away from that reporting what happens here yeah wider stocks down today as BIA they're getting with that reporting analyst don't love that so few men downgraded the stock. The other news here is that they are there volumes of iPhone sales have basically flat line your every year. But I look at and say yes your volume of sales and you know flat lined but your average price is through the roof right. Knots it's neat it's absolutely not what people are spending now they're average price was 791. And change for the quarter. That is the fourth straight quarter they have been above 700 dollars per unit sold. For the iPhone. After pretty much being stuck in that 600 range for a battle. Seven years you know so it's like they they've shown that they have the ability to raise their prices here which I think to meet. It bodes well for the future for them like I'd rather have a company that sells slightly fewer phones with higher margins. Because no one else has any margins in this business. You know so it. From my perspective I like what we're seeing there. On the information about whether or not they're gonna continue to break out sales. I don't like when companies tell analysts how to think. Because that's what this is the company saying hey we are going to become a services company you shouldn't spend as much time looking at this data. We'll find just give me the data anyways that I interpret let me figure out how to use the data don't tell me how to think so I don't like when companies do that. And I don't Layton companies get more opaque about things that you still are really important like. It's not like iPhone revenues are important apple there it's still the biggest part of their business like I get that they want people to look at the services revenue. But I I I just let me make that decision as an analyst that's that's kind of my view on that would you disagree there. Now I I am always in favor of more disclosure over the last disclosures I think. I think this could bite them a little babies yet you're telling people how to think about their business where is series if your recent stop you want as much information as possible you'll determined to interpret it. I don't think they're trying to hide something here but it seems that that's how it could be interpreted as Apple's trying to hide something. Mike you only thing apple product lines. That are if you don't make up for yet you aegs ipads iphones you name it. Yeah we get a poll question actually two we got to terrorists and what yet what's the question have you purchased or do you plan on buying an apple product in when he eighteen yes or no. In you can log on new financial change showed dock on to capture vote. That's not only for yourself he bought for somebody else to us some extra quality seasons coming up can we define apple products as an example I cracked screen on my phone does that count as an apple product Dunedin new Yahoo! did you have fixed it. Apple. That's enough I say absolutely I say absolutely not now we have to have a poll questions the whole question that it absolutely count if you are out of one of those don't count screen fixtures and yet add it to avoid confusion a lot of flight. Yes this time. He spent money and Apple Store accounts so I have to vote yes you look. I'm voting yes reluctant. Leave but I am if you have money saved for retirement you're way ahead of the game because a significant percentage of people near retirement age haven't saved anything. Having the money is one thing but knowing when and how to take it is another. Required minimum distributions. Are amounts that the federal government requires you to withdraw annually from traditional IRA or an employer sponsored plan. Once you reach the age of seventy and a half. We take calls from clients all the time with questions about this process and so we've put together a brand new guide available this month. Cult understanding required minimum distributions. It has all the information you need. To make sure you follow the guidelines set forth by the government with Al incurring any penalty. The guy is free and it's yours by calling 80393. 4001. That is 803934001. Or download it right now at our strong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities American companies are unaffiliated. This headline non non CNBC really got me thinking it's his home flippers are fleeing the market is their profits shrink I just picture all of these home flippers running a public hearing like saws and hammers the like the dead but that's how it's happening now what what's actually happened. So the definition of a home flipper I would be a home that is bought and then sold within twelve month period and they measured the statistic TC you know what's going on in this marketplace. You have seen nationwide and 18%. Decline. Year over year. That was in August so August 18 vs August a seventeen is on 18% year over year decline. Some markets a lot worse California. 22%. Decline in that state witches. Again we talk about California's housing market occasionally it seems like it should have zero. Relevance to some people in northeast buddy rice does it is it buried. Traditionally a very accurate early indicator of how the real estate market is how shaping up. Do we really know anyone who's in the flipping business yes what are have you talked to them at all about how things have been the last six months or so were there are still seeing the kind of stuff the new out that the growth they saw the last few years so. He one individual that I spoke with has been out of bits for health issues the last twelve months so he's kind of missed out on some of this anyway but. My understanding from what he was saying was you know even twelve months ago that the main issue he ran into was he could not find the labor. Interest and second amassed what we've been seen nationwide on that interest. Let's take a break when we come back Bridget Carey from CNET is gonna join us to give you an early look at her 28 team holiday gift guide don't miss it because we only got a couple months to go with this all the balls orient their Christmas decorations up there already to go and look I don't wanna be shopping on Black Friday so get it done before he can avoid all that mastered late shipping or anything that happens. Bridget coming up right after this break. It's hard to dial a phone or send an email with two arms and it's easy to text we've got an excellent running and you can tell us what you think right now by texting us that 63566. The skewered battery and join our exclusive club face is that financial exchange radio network. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy and a half you are required to start taking withdrawals from your retirement account of course questions to arise how much do they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a 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. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming this is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of let's -- senior partner with a -- -- of -- in -- can help time -- an expert and a state -- elder law and taxation and if -- in the process of -- -- you need to call him right now and -- his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that you'll need to consider -- you begin your planning -- call 866845699. And get this free guide to gifts or not a -- that's 8668485699. -- -- has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- 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. Cold easy plumbing. Easy makes it easy either 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. 119 B that 7818621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10183. Again the number is 781. 862119. No. If you're real estate or property management company -- -- -- banking partner that has all the right tools to keep your operation efficient leader bank is one of the premier banks in the property management and real estate space offering a suite of unique products and cash management services to help you collect rent managed Condo association payments and digitize paper checks leader bank utilizes state of the art technology to offer convenient banking services to its real estate clients such as ECH payments mobile banking remote check scanners and -- -- to -- rent payment platform -- bank -- a -- of business bankers that are on call to help -- and they'll come to your place of business and make it as easy as possible the number -- call is 8776917900. That's 8776917. -- 900 find out -- many of greater Boston's premier property management and real estate companies -- -- -- as they're banking -- call 8776917900. Or -- BBO -- -- -- dot com for more information member FDIC equal housing -- Stay on top of breaking financial news by becoming a member of the carries brigade blog on the financial exchange should dot com and sign up today. A. Heating season right around the corner get your hot water steam boiler inspected before first cold snap leaves you out in the cold call experts easy plumbing. They'll put your system through a comprehensive test to make sure all the components are working properly. Get a head start any winner preparations and call easy plumbing today. 7818621190. Mass master license number one a one. We are joined now by Bridget Carey from CNET to do prime favored annual segment the 2018 holiday gift guide. And that Bridget thank you for coming on as a mention this is one of my favorites and seems a little bit ridiculous are doing it on November 2 but we're all start to think about that stuff so. I'm looking through the list and it seems to me that the gift this year is going to be some of these Smart home products can you kind of walk us through what you're seeing out there and if if you're not somebody that's ever bought one of these things before in your looking to purchase for someone how you narrowed down on what's best for what person. Yet in every year. But I collect it could be that the like each year. I would say. It here one of those black early you know you know shoppers in the week I asked about it because he beyond that look at. Indian act. Political group home mini going to be on now are roughly half right Irma. But he seemed only cost fifty dollars there's. Answer to those. You know mart names like elect or you know take a look and but. You know they kind of and a little bit more than just enter questions are viewed by now let the people are starting to get bored homeless aren't. They move means that on purpose. And then I turned right on top. What greater all the and they're beat that ebitda is best version. I already that they might lake. If not at the very latest Arctic about Eckert got a group won't be any. But there's one that really by. It made by a company called Belkin. At that we your name that we know Beatty might bite mark bike and it. Is as part oh yeah and went and what they are accurately and in this. It certainly can really open. Although. From. Are poor or wit orbit the any clear there are it works Wi and if you're not sure I'm on has. There it would hurt the political system even apple and at an event that we're without a little work at all. And that little doo Hickey is 35 dollars. There's also. You make your current government yet that part yet. Like that they won't. I know my parents do. Beaten in giving them wireless Smart. We is. A couple of different acting out there out. There. Is that Google Chrome. It's Africa crown after treatment. Basically. Are in any market pillar out let it eat in there. And you couldn't think control is the start of the day you even old theory that. Now the Google and better. And there's other options out there at el Al that makes a network the. Awesome well and it. Yeah this seems like some of these costs are really coming down some of these Smart home products and it's can be pretty fun to. Run around the stars. Bridget thank you very much for coming on it's the 2018 holiday gift guide can find it right on cnet's web site. And a lot of really equal ideas there and a lot of stuff that doesn't mean you might expect to break the wallet but it's really. Some pretty reasonable deals keep an and Bridget thank you very much coming on. It. Yes no. I'm gonna be looking at some Smart plugs I think that's pretty cool I've got to Google home set up in my house already lowered Jermaine use of them would be. What would you do four I'd frequently leave lights. Now Dell side I'm in bad. The heat's turned down to sixty degrees acknowledged getting out of bed and realize that all the lights on downstairs and that that it's over so you like did then. You put the lamp in the Smart clock and then you can control everything under fault. Or just speaking your smarts beat Maria well it's cool. And creepy. Oh it's definitely agree I continue to be on this just coral that the creep factor on all of this is just too much. It's really created a new feature on the Google home emirate tryout is theirs. Ten different Disney books now. Where you can say hey I think he say you tell your story speaker that you wanna read along with them and they'll play. Because specific background. Music as well as easily got to be kidding me out like us. You know like you'll be talking about the new Disney course that's right along it'll have like. Horse gallop on and you can you know turn pages and go back to certain pages and don't know where you arms is listening to ever reduce chemical actually. I do think there's some really interesting potentially multimedia things that you can do their specially like for books as an example there I think we're we're books are gonna go over the next. Decade it's going to be on one level kind of it won't be sad because you still going to be able to just read a normal book if you want to but I think you're gonna cease all kinds of options opening up as far as. Like multi media that's now available in new formats like that now that you could be kinda cool so. Mike what is this a story that he found on CNBC about. Well it was a plush bathrobes first and foremost but then there were some statistics. On retailers that we're getting orders in for the Christmas rush what do you see there. Yes so this was fascinating to me and not much the plush bathrooms but it looked at the number of shipping containers coming over from Asia for different retailers. And it looked at them what they what they had the year over year so August through. October 31 how many shipping containers. Came over first these retailers and Macy's Sears target Wal-Mart all you know a little bit more or less than last year. But Amazon. They had 2429. Shipping containers come over last year this year. 23331. Shipping containers almost tenfold increase unbelievable. I can't understand it. Take a quick break right now we're just about wrapped up for the hour will be back in just a little bit with 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. Required minimum distributions are important and necessary if you have a traditional IRA your employer sponsored plan when you turn seven and a half its time to take Simonyi Colby Armstrong advisory group right now what 803934001. Understanding required minimum distribution so that you're ready when your time comes that's 803934001. Or you can download the dead right now from our website Armstrong advisory dot com securities are the securities America incorporated number two wrestler PC advisory services are registered as America advisors incorporated Barry Armstrong represented their arms from advisory group the securities America companies or an -- as you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- and -- can help time as an expert in this state -- elder law and taxation and if you're in the process of legacy -- you need to call him right now and get his new free guide to gifts or not a -- in it you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property in what happens to the -- of the child has -- issues these are all things that -- need to consider as you begin your planning -- 866845699. And get this free guide to gifts or not a -- -- 8668485699. -- Dolan has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website -- exchange -- dot com. If you're landlord looking to find an easier way to collect rent payments than you need to hear about leader bank's own line 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 to Obama called this he ran team at 781 at 6418691. That's 7816418691. Or visit C 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 7816418691781. That's. Towards the end of the year now in if you over age seventy and a half. And you have IRAs are 401 k.s are 403 B is you have to take out those required distributions before the end of the year. Otherwise you face some penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is. 5000 dollars and you fail to take that money out you can be penalized. Up to one half. Of what you're supposed to take out but didn't so let's say you didn't take any of your wire distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you face on that one year if you miss 2345. Years whose penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. A didn't know about it largest beef failed to take action. Don't ignore address it you know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignore the required distribution payments on your retirement account. It's required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions. To help answer all of your questions. All you have to do to get it is call 800. 393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 80393. 4001. Or Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Are you having problems the blocked sink or drain. What 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. 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 called today in your plumbing problems. They're history call easy plumbing at 781. 862. 1190s that 781. 862. 1190. Or you can visit them online at easy plumbing MA dot com for more information Massa master license number 10. 183 again the number is 781862119. No. This is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy and a half you are required to start taking withdrawals from your retirement account of course questions to arise how much do they take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the R&D rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. He suffered a securities America incorporated members in SIPC and advisory services over the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is Barry Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's about all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank a step ahead member of the icy. And. This is the financial exchange with Barry Armstrong in chunks of you're exclusive look at business and financial news affecting your day your city. Your world stay informed and up today about economic and market trends plus get breaking business news every day. And now the financial exchange with the Barry Armstrong and sharks done us. Is probably the busiest Friday of the month with the government jobs were being released at. 8:30 this morning. So it's a pretty good numbers 250000. Jobs created for the month of October beating expectations for 19 being. Hourly earnings up point 2% in on expectations the unemployment rate stayed at three point 7%. And all in all put to good report we're gonna be digging into that more detail. In a little bit mark Hamrick is gonna join us in about ten minutes to go into detail on that jobs report. But all in all pretty good report. The one question I think I have for you Mike and animals gonna have for him. Is whether or not this kind of report actually could be one of those good news bad news situations for markets where. Hey it's good enough that it raises interest rates the point where markets start to feel a little bit of pressure here. I don't I mean it's certainly was last month and real felt that and it's certainly is so far today. Mark two were up early in premarket trading and right now S&P off. Zero point 6% down officer point 35% in the NASDAQ mainly with the the apple components down over 1% at this point. Oates Chuck Todd and Mike Armstrong here today Barry is out of the office today and so you're stuck with us for the next hour or so. And another big story that we had overnight was apple releasing earnings yesterday it just after 430. And they came in with a bang up quarter. But guided a little bit lower as far as where they're heading over the rest of the year. It also making some changes spores would be disclosed to. Analysts in their quarterly report the gonna stopped disclosing. Specific sales for the iPhone iPad and Macs and staged kind of aggregate them together. And instead they wanna be giving more guidance on their services business which seems like where the one try to take company. I personally don't love the fact they're getting rid of some of the stated as if it's really not important I'll make that decision don't make form. Yet investors are loving it either I actually looked at the facts of the court you know the earnings report not what they're trying to disclose what they're not that. On a fact basis I think their earnings and revenue still looks strong yet they're guiding a little bit lower for the next quarter but. Who knows Christmas season can sometimes surprise you to. So the average phone sale cost it was way out I loved that number but the volumes were a little bit off and they did idled lovers are nonetheless stock is down almost 7% today and dragged down a big chunk of the market because of that. Taking a quick look at markets right now the Dow is currently off about 93 points at the moment the S&P is off thirteen. NASDAQ with the biggest losses largely on the back of apple off about 1% today. Bonds the ten year treasury now three point 19% going up from three point 14% so almost a zero point 5% increase there. Gold currently is down about three dollars and ninety cents an ounce and the price of war was 6314. To oil pulling back significantly mean more often. Almost 20% now in the last few weeks here on oil which I think was about 76. Nice and early October that tanked pretty cheap the other day. Or would you cock you know was that BJ's and I think it was three. The 337. I've made three on nine did you learn. If you'll always find like the the organs Tucker address Kentucky felt as guest. That's not accurate gas prices nationwide by the way have fallen ten cents in the last. Thirty days a month ago weird to 88 on the national average ran out to 78 so you're seeing a little bit of relief from those higher prices right. Let's talk about Amazon and specifically Amazon's each Q2 which. We're supposed to have an answer by the end this year I think on where they are going to we to have a prediction I'll turn funded. Of the date via radio prick we have a prediction of the date yet you're given you started this. As you I do vaguely remember that yes yes it was gonna be yesterday right no you have November 23. For each Q2 announcement. Just before Black Friday that I had my as the fifteenth and December and I've the thirtieth of December. So what did we gleaned from Jeff Bezos yes I think. Then why are we talking about the because everybody wants to know something that something's gonna happen but nothing has happened yet he just said. That when he does make a decision he's gonna look at a whole ton of data. And then follow his heart. We have no idea where this is going to be stale and elsewhere and when you read outline do you get you shiver no no I don't get it shiver with Jeff Bezos following his heart absolutely not. Do you did you hear that song playing and though like listen to your heart song making in this it. Think that's an just like pictures Jeff Bezos like staring out into the distance and like. Eighties rock jams about like this year are exactly that scares. This or a comment on any huge corporation CEO rather than specific jet as but my first react was Jeff Hart. The I know enough guys Aaron nice thing to say but I just think of that as any you know if you URD a CEO this big of a company. To some degree you make some cold hearted it's just like you are not getting any of your packages delivered on time problem in her. You nothing is being delivered on time do you which ally I just to say nice things and and move along that Jeff Bezos as far as the news go I'm very desperate the stars are difference. It's not helping your turn to trust me you're still getting late night he's listening and Wal-Mart filing a and I'm done there Wal-Mart filing a lawsuit against the credit card issuer a crony financial. Who used to be the exclusive credit card issuer of Wal-Mart and Wal-Mart is saying that they want 800 million dollars from secretly helped calm. They are claiming they haven't really claimed exactly what sinker and he did to do this but they said that they basically. Broke the terms of their agreement in terms of how much credit they. Offered to individual applicants. We don't know whether there is offering too much credit too little credit but affect apparently this harmed Wal-Mart in pretty substantial way. Sinker and he is you know this this made up a huge portion of their business we this was a former GE company got ruled the way and yeah not only do they not have the business anymore but now wal mart's going after damages. In terms of one of the things that specifies that Wal-Mart is not accusing that they did one of things happened. Losses on Wal-Mart cards this is a quote from the Wall Street Journal. Loan losses on wall mark cards increased after secretly converted some consumers are at Wal-Mart store only credit cards to Wal-Mart co branded cards are pretty much used to be. Hate some customers to only use those cards at Wal-Mart. Sigourney said okay we're actually give you cards that you can use anywhere and apparently that caused neo whole bunch a losses forcing gritty. And it. A potentially being created some problems for Wal-Mart as well so maybe the issue that is they they Wal-Mart feels it loosened restrictions too much yep so is it certainly seems that some part. Of what's going on here. Let's take a break when we come back more camera from Bankrate dot com is gonna join us and we are indeed all the way into that jobs report they came out this morning that is right after this. Brake business news is constantly break. And we're here to 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. This is very Armstrong saving for retirement is extremely important to those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy to have you are required to start taking withdrawals from your retirement account of course questions to arise how much to like take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros -- ones that guide will tell you how much you have to take out based on your age and it also explains an exception to the RMD rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a 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. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming there's not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- and -- can help time -- an expert and -- -- -- elder law and taxation and if -- in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with -- issues may arise from a significant -- -- at home -- vacation property and what happens to the -- of the child has -- issues these are all things that -- need to consider -- you begin your planning -- call 866845699. And get this free guide -- -- or not a -- that's 8668485699. -- -- has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website legally exchange -- 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. Coach AZ 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 7818621190. Or you can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781862119. No. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal that you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to -- businesses that number again is 8776917900. Or visit them online at -- bank dot com. Minimum deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduced earnings which have to change without notice leader bank a step ahead member of the icy. Be a 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. Time now to bring in Marc Hamburg from Bankrate dot com here to talk about this morning's. Jobs report mark thanks for joining us how aria. I'm one on upbeat jobs report Friday thank you. It is a happy jobs report Friday and that the jobs report this morning my impression. Headline numbers really good yet people coming back into the workforce wage growth came in pretty much on target never thing. Markets are down today now after having a couple hours to digest this is this a case of good news has now become bad news because of the Fed. No I don't think so at all I think Wall Street there were some investors somewhere out of the sucker punch or abet and thought that. The mother telemetry. Or verbiage that was coming out in the previous 24 hours about a US China trade deal were to be believed that night that frankly the unity my head ever spent. So I don't think the jobs report is a reason to sell off I don't think the Fed changes its trajectory on interest rates December rate hike. Has been the highest probability all along and old by goodness workers are getting more day at a. Mark let's talk about worker pay specifically in the third quarter according to this exact report. About worker pay grew at an annualized rate of three point 9% that's up from 2% and an annualized rate in the fourth quarter last year. To pretty quick bump there. Eight is that sustainable B what does that do the economy. Well first of all I would tend to want to rely a little more on the numbers that we got earlier in the week which as the employment cost index. And there are on a year over year basis which I was most recently measured in the third quarter total compensation to up two point eight -- that. Wages fan salaries. In the private sector. Have a growth rate there are equal to what we saw here three point 1% so there may be a little distortion that could've. Bin related to some of the storm measurement impacts in the latest report I would wanna. Placed too much emphasis on that though because I think when you have the employment cost index and average hourly earnings sort of walking hand in hand that knowledge you Wear a bow rise. You know let's remember that here we are nine plus years in the economic expansion and worldly toxic about that is now. So it's not as if everybody's sitting at home holding their quarters dollar bills and hundreds thing you know these wage gains have been great for the past decade it sort of making up. I ever ever so slightly lost ground. Mark when we take a look at the labor force participation rate little bit of a bump here for 62 point 7% at 629. But we've kind of been in this range for the last year do you think there's anything meaningful here is this just noise it's likely to revert a couple months. A probably Israel. You know we need to get up about three percentage points to get to pre recession levels. But you know one positive trend that has been making a summit outlines for example is that a female labor force participation has been adding to the overall picture once again. About what the post World War II story that accelerated around the 1970s. And popped essentially during the recession. So the fact that we have more women coming into the workforce. As well probably some people who have been. Basically just parked it becomes the difficulty of finding work previously. Not to mention the fact that perhaps some other. Wages or benefits that they're big opera now or are quietly little more satisfying. You know I would I would bet how also we're gonna get up to 66% anytime soon but. We're making progress and you know all week keeping unemployment rate at three point 7% and get. An increase in labor force participation and the weight gain that's the kind of put right back go or trinity the likes of which we really haven't seen for quite some time. Mark anything here that makes you nervous in this report. I'm pretty hard to make nervous. You know I think the question that a lot of people are asking and that's probably the right question to ask is. You know could we see further out trajectory here that would include an actual rise of the Malaysia. And then that does get a dentist problematic territory that is not a related to the trade dispute matter because you know consumers pay the cost of care. And if they're truly is an escalation. Between the US and China that is going to hurt all kinds of fronts. For the last three months we've seen commentary from business. Actually before that. Raising alarm about the impact of trade dispute you supply chain disruption etc. and so those are real impact. So you know the risk of inflation or true disruption from arbitrate disputes is probably one of my biggest worries. And we are being global growth again. Two. Accelerate last. Robustly and at that had previously been one of the think that we can count on in the U last contributing to the improvement in manufacturing so they watched the global economy. Watch the trade dispute issue it watch interest rates and inflation and should have a pretty good idea about work had been the year care. Very good mark we gotta run but thanks for joining us today. What are we YouTube that is more camera from Bankrate dot com talking about the jobs report. And obviously we whenever we get these there's a ton to breakdown I mean there's a whole bunch of different data that's out there. If you are looking at this report it's you know again one thing to consider with today's market action and mark brings up good point. We did start C a little bit of a rally yesterday when we started getting some positive thoughts on trade. In that seemed of kind of didn't get squashed at this point that it's it's so hard when you're looking at markets to figure out what specifically is causing the action focused. Again you get trade issues that are out there you've got this you've got elections both domestically and abroad there's there's so many different pieces. That are kind of into related here. And I think the big thing that I always look for when when we look at these jobs reports. Again I think that's part of the reason why would get these kind of an a three month aggregate it takes away some of the noise like. Again you had that this labor force participation rate that bumped up 62 point 9% this month. Well we've seen two other bumps similarly. Over the course the year the then revert right back to where we worked so you know it and that's why again the three month average takes away some of the noise of the young gets so excited about. I hate to you know as is is actually going somewhere so. Only three month average number that I think is significant at this point seems to be that wage growth number it's been fairly consistently upside seems to be moving upwards so and and markets are interpreting that. Accurately at six. It's it's good news for workers the question is going to be does that fit interpret that and then say. Thought we need to keep raising rates because if they do there's all kinds of signs that housing the housing can't stomach further rate increase. And I think again a big act question that I have and we will see come probably January. Is do these wage increases then leads to much a much bigger holiday shopping season or not. Dip today in the past sometimes it has sometimes it's just led to people the same at a time or pay off his debt that I have put up a student loan and that is great for individual personal finance and not great the stock market. Get what do little bit trivial to. You is what do little to trivia. Dour okay we're gonna do little bit of trivia than tribute to date is brought to you by seasons 52 with 43 locations nationwide. Including two in the Boston area and one in West Palm Beach seasons 52 was on a mission and that mission is to provide you. With a better way to eat visit seasons 52 today in Burlington. 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Excellent answer in just. The headline from the Wall Street Journal says forward bolts wagon export mention counts Tesla in way Mo we talked about self driving vehicles are electric vehicles. This folks yeah this this could be a really interest in proposition as mainly has to do with the self driving car unit. The issue that any of these auto manufacturers have is that they are. Almost light years behind Wayne joint desolate as I mean those are the two companies that have really made some substantial strides here and I think. For invokes Reagan might have a good idea here which is just. Joining forces and you would probably see this spun off as a separate company support already has a self driving car unit that is sort of separated from their own regular business what would they do like do we have any idea how far along they are mean you either have so little buzz this you just don't know I mean it's it's clearly been a big focus they. But it's tough for four to distract from their core of their business which is they made so much money on their pickup trucks. So they see this as a strategic initiative but they haven't been very public about it and Volkswagen presumably would have capital. To get into something like this. What do everyone's wrong about self driving cars. On this would be a lot of money loss but I don't see I can't really envision a scenario. And I am a proponent of them. So what what would you consider wrong about self driving cars like the timing of the roll out the consumer demand for what I'm. If people reject them you know you have you yet you have tens of billions of dollars going in tennis. And we don't the polling suggests that most people don't really want to get in one. And I'm not saying that that's not gonna change. But what do you. Were wrong about that like. It's it's a question we have Tucker we ever asked that question on the show if its self driving cars are gonna fail like it do we know basket they're like we just kind of make this assumption oh wait that's where we're going I'd I'd I'd do this myself. Brent what are they don't pan out. Then there'd be a huge amount of money lost and you know we aim though would be taken huge at Tesla would be in very serious. And some serious. Issues but. I just can't envision a scenario where around about that I think I can't nothing else companies will make a financial decision there that will lead to consumer acceptance. Where did take a break when we come back we've got the answer to trivia and also what's the real limit on free beer in the workplace will tell you after this. The financial exchanges 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 on the financial exchange radio network. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy cleaning is not easy. Well and make sure that our kids -- left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- -- -- can help time as an expert -- -- -- -- law and taxation and if -- in the process of legacy -- you need to call him right now and -- his new free guide to gifts or not a -- in -- you'll find information related to the -- process -- taxes issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these -- all things that you need to consider -- you begin -- planning -- call 866845699. And get this free guide -- -- or not a -- that's 8668485699. -- -- has over thirty years experience helping families like -- let -- help you do call 8668485699. Or download the -- right now from our website legally exchange -- don't count them. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal the you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks -- rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. 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Or he can visit them online at easy plumbing MA dot com for more information mass master license number 10183. Again the number is 781862119. No I folks it's chuck and Mike from the financial exchange we're talking about required minimum distribution for getting towards the end of the year now. In a few over age seventy and a half. And you have IRAs are 401 k.s are for a three b.s you have to take out those required distributions before the end of the year. Otherwise you face penalties Mike how steeped in the penalties be on our d.s that are taken out. They can be very severe so. Let's say your first year required distribution is. 5000 dollars and you fail to take that money out you can be penalized. Up to one half. Of what you're supposed to take out but didn't so let's say you didn't take any of your prior distribution you can be faced an IRS penalty in that case. Of 2500 dollars so it is a significant amount in in terms of you know that penalty it's not just that you face on that one year if you miss 2345. Years whose penalty numbers to add up to significant amounts of money absolutely deserve this is something that you cannot ignore folks and if you find yourself where you find a loved one in the case where they. A didn't know about it largest beef failed to take action. Don't ignore address it you know identify what the issue is how much you might oh. And get on it right away it might involve writing a letter to the IRS and explaining the situation but do not ignored the required distribution payments on your retirement account. It's required minimum distributions can be a little scary but our strong advisory group has a new guide out this month titled required minimum distributions. To help answer all of your questions. All you have to do to get it is call 800. 393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 800. 39340014. Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. If you missed any part of today's show not to worry for the financial exchange showed dot com and click listen. Then click on demand and catch up on every segment you'll also find podcasts of all of our poll shows just punch up that listen button had financial exchange show does come. So we got to trivia winner of the question last segment was. And which ones we do what was the original name of the duo Simon and Garfunkel the answer was Tom and Jerry. Ames who Wear the range and Paul have expert that. The correct answers from Woburn and he's taking away fifty dollars to institute of corridor trivia conscious brought to you by seasons 52. With 43 locations nationwide including two in the Boston area and one in West Palm Beach scenes fifty twos on a mission. Mission to provide you with a better way he uses the seasons 52 today in Burlington Chestnut Hill. Or Palm Beach Gardens or go to seasons 52 dot com for an annual information reservations. Book your holiday party today and get a special gift for your guests. So get a couple interesting texts in on the self driving car issue one for 50 wait. Chuck. SE a very reasonable path that it's a lot cheaper. And more efficient and safe party's self driving cart as C a reasonable path to them succeeding. Yeah here's where I think government invention doesn't come in is if insurance rates and basically get cut in half for having a self driving our automated car. You know people are gonna make that decision. Another question for 77 for most people won't be able to afford to self driving car furlong time. You might not over one at all it might be selling where you just have the car come and pick you walk in you don't have to own one may in and here's the other thing to think about what that Dodd's. Think lake in and I'm not just talking about lake OK you don't need parking space just on the you don't need a garage in your house anymore think about what that does deceiving on construction cost me about what you can now do with that space that used to be your garage think about all of the. If Hoover and FedEx and UPS all determined that hey who we have done the math and bought a self driving car might not be affordable for the individual it's affordable for our business since we drive it so much of them then effectively the self driving car can exist in this scenario is but it does require willingness from people to accept it. If you're not willing to get into a self driving over then it won't it won't happen. I think people BO OK with it. We have this text from 617 self driving will collapse with the first massive search for injury and death against the many deep pocketed companies anyway involved with the alleged malfunction of any given car. What wire they're going to be more lawsuits self driving cars and there are four normal one. A whole fatality argument is so leaves you if you ask me because we talk about day in and day out all the distracted driving in the fatalities are on the rise. You know yeah are there going to be free Telus was softer and Garcia probably very same one but. It's always the suits will be competitive there be deeper pockets. When you're suing somebody for fate out of today you're suing individual when you're suing. A self driving cars are corporations there will be bigger lawsuits but I don't think that references I don't think this runs this into. An existing. I just I guess I look back you like think about that the worst cases that you've seen in the US unit like. The one that now comes some countries the GM ignition switch switch problem that right. And I believe that ended up being 8900 million dollar settlement so like we kind of met precedent that's already been set. In at 900 million. Was for a 124. Deaths. That we're going this is according to be of the the loss on the looking at right now so it's not like. Kurt cars haven't had liability to manufacturers for stuff like we kinda know what it looks like. Now of every self driving car spontaneously decides to drive into a building or offer cleft. Yeah we're gonna have problems. I think that's gonna be we have. Don't and there are undoubtedly be a slow adoption of this decade it's taken a take awhile and the disparities there are certain areas to meet that you know. If you're the CEO of FedEx and UPS and Wal-Mart. You're going to be an early adapter in this technology you're going to find that self driving technology sixteen in his eighteen wheelers pretty quick note the cortex of the suddenly one would you take itself struck Encarta Logan Airport on December 20 when is snowing early in the morning yeah that's another challenge at these softer and cars Upton. Overcome his whether. And the fact of the matter is that probably finished twenty years you'll be able to take a self driving car to do Logan Airport at 4 AM when it's snowing because. Those aren't identified they can't handle this condition. Asked it's it it's not saying this is a solution to everything but it's saying probably solution to a lot though and connect. Let's talk about something that's absolutely. Both awesome and awful all rolled into one nice little pint sized cup. Eight years ago we work the author sharing companies that now is valued at twenty billion dollars for some reason. Decided that they were going to be a different kind of office Leo leasing area. They they weren't going to just have been no cubicles and they weren't gonna just have. You know standard you know bathrooms. They wanted to be you know very hip they wanted to be very cool and so part of this is they had originally. In a lot of their locations. Allowed unlimited free beer from taps that were installed on the premises term. Which what can possibly go with it as Mike said what could possibly go wrong. We'll bad news for we work tenants they are now limiting the free alcohol to 42412. Ounce glasses per person per day. But whoever this is not a prophet issue it's not like the consumers were you know running we work out of the year because of this. The issue. Is that there are clearly just drunken idiots falling down there we work spaces. And making it tough for some of their more serious. Custom and they're big companies that lease space from we owe yeah it's not just. Dead 25 year old hipster that we all think about showing up there in his torn jeans and flannel shirt it's you know larger companies that rents full floors from rework. And purchase Davis and I mean the fact that they have to put up for beer limit on this just speaks volumes about the culture at these that these locations it's it's. Also it's 412 ounce glass we're not even talking points here. Oh poor you can't have more than four B. He can't have more than 48 ounces of beer in a workday house you get to work. It's a good question. You don't know how to prepare to whatever preview what would we do as Tucker slowly spitz is whiskey back yet is Cynthia that's cooler back here at this is one of those things that you just never realized was problems like. I've never been an alternately either I've always you know I've I've watched madmen words like to drink and all day and you know I've I've heard about office. I've never seen it like it like the idea of drinking during the workday just doesn't quite click for me. Have you ever I mean I've interviewed for work functions where it might not be at the office but. Co workers have clearly been. Inappropriately inebriated and made fools of themselves all the odds at every holiday party ever man be Jennings it's the best. Coworker go up to like someone that was way way above him confront him about it but to work issues here's what could go wrong posted at a at a holiday party. I wonder like firings peak in January. You know right after all that stuff comes out. Folks if you have money saved for retirement you were ahead of the game. Why because significant percentage of people near retirement age they haven't saved anything having the money is one thing. But knowing Wayne in how to take it is another thing required minimum distributions. Are the amounts that the federal government requires you to withdraw annually from a traditional IRA. Or prominence employer sponsored plan and once you reach the age seven and happy have to do this. We take also pints all the time with questions about the process and so there's a brand new guide available this month. Call understanding required minimum distributions. In all the information you need to make sure you follow the guidelines set forth by the federal government without incurring any penalty. And the guide is free and it's yours by calling 80393. 4001. That's 80393. 4001. Or download it right now at Armstrong advisory. Dot com. Doctor. Forget about it. OK so anyways let's not talk a little bit then about Starbucks Starbucks coming out with quarterly earnings. In the last week here. Or rather in the last decade and what we saw from them as a company that really struggled to get traction over the last. The last six months since we've seen a change in leadership nice bounce back up 10%. Q Jan nine point 45% trading up right now. Are really just seeing the increases in their prices coming through pretty substantially here they saw it posted a 3% increase in same store sales. Which beat the expectations. And they're really focusing on. What are their successful stores doing so they've they've identified that you know their stores that have a drive through window are producing much higher sales. And they're closing a lot of the in. Closing some locations in airports for instance guy and really. Highly congested cities they are doing so well in trying to expand and some new areas like the midwest and south. What we see. As far as there's an article in the Wall Street Journal yesterday about how prices are going up to number of these stores. In particular Starbucks. So the price of their coffee go eight point 9% on average. Any concerns and that front and that they're not able to pass these you know additional cost on to their consumers at this point. I mean I always have that concern at Dunkin' Donuts is they're shooting just Duncan now Duncan has you know made it one of their key goals. Of 2018 and nineteen to take a chunk out of Starbucks business. And maybe they can but I don't know that I I haven't seen it today I have not seen Starbucks customer suddenly switching over to Dunkin' brands. So there are plenty of companies they're trying to take its status out Coca-Cola taking that big stake in. Those David that who was it to be and I'll write. I'm so about that will be a big expansion between nineteen as well. There are challengers but to date in at Starbucks well I think with post a coffee god that's writes I think that starts popping up all over the all of the US soon. But still Starbucks seems to have something. That. Just continues to be very well. We're gonna take a break here when we come back Paula Monica from CNN business is gonna join us here to talk about a company that's been beaten up in the last six months -- company. Is Alibaba stick around we'll be back right after this. The financial exchange. All of a hurdle in England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed dot com and find the station closest to you. This is the financial exchange radio network. As you age it's not uncommon to entertain thoughts about how your passing will affect your family legacy claiming is not easy. Well and make sure that our kids are left in the strongest possible position financially and otherwise but gifting assets to our children is not always the best way to make sure they're taking care of public -- senior partner with a -- -- of -- and -- can help time as an expert -- -- state claiming elder law and taxation and if -- in the process of -- -- you need to call him right now and get his new free guide to gifts or not a -- in -- you'll find information related to the -- process with Texas issues may arise from a significant -- -- at home -- vacation property -- what happens to the -- of the child has -- issues these are all things that you need to consider -- you begin your planning to call 866845699. And get this free guide to gifts or not a -- that's 8668485699. -- -- has over thirty years experience helping families like -- let them help you do call 8668485699. Or download the -- right now from our website legally exchange -- dot com. It's pretty hard to find a bank that as a checking and savings account that can provide a decent return and if you're in the market for one I've got to deal -- you're gonna wanna check out tie this is very Armstrong and I've been doing business with leader bank for many years so if you're in need of a bank with great rates on checking and savings accounts look no further than leader banks Zuma rewards account qualifying customers will receive 1% back on debit charges 10% back at featured businesses no minimum balances required and no monthly fees but that's not all leader banks zug will rewards account has a two point 05%. Annual percentage yield if you're searching for great -- it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring a guide to -- businesses that number again is 8776917900. Or visit them online at -- bank dot com. Deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings were subject to change without notice leader back a step ahead member of the icy. Is very Armstrong saving for retirement is extremely important those of you who have put money away for later life are probably in pretty good shape but did you know that once you turn seventy and a half you are required to start taking withdrawals from your retirement account of course questions to arise how much to like take when exactly do I take it can ideally taking it for whatever reason these are all good questions and you need to know the answers before you do anything I've written a brand new guide which can help you with this process it's called understanding required minimum distributions and it's you worst for free by calling 803934. Zeros or ones that guide we'll tell you how much you have to take out based on your age and it also explains an exception to the R&D rule as it pertains to your current employer plans call 803934. Zeros or one where you can download it right now for my website Armstrong advisory dot com. Terry suffered a securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong represented if Armstrong advisory group the securities America companies are unaffiliated. Are you having problems the blocked sink or drain. What 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 781862. 119. 781. 862. 1190. Or you can visit them online at easy plumbing MA dot com for more information mass master license number 10183. Again the number is 781862119. No. Security suffered two securities America income member finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The markets are still volatile really keep all our. Get our weekly monthly recap but becoming a member of berries brigades there's a financial exchange showed Judd come and sign up today. It's time for stock talk for Paula Monica from CNN business Paul how are you today. Period bank in that urge you guys before the break but yeah I just knocked back postured oil and anticipation. There you go it's all you provided to me for free and we were there. But really. So let's run it around about what we we do wanna talk. Bad Ollie Bob this is stock it's off about 25% over the last six months. To quit what let's start I would think the obvious question and I think a lot of people. Alibaba a Chinese company how much of this is specifically related to the trade issues that we're dealing with right now. Yeah the company acknowledged in your earnings call you know that there are global pool macroeconomic conditions that are becoming more certain I think that. Of course code for the trade war but I think the bigger issue really the jet that the Chinese economy. He is starting to slow it down even though consumers are. Still spending you know pretty a pretty healthy clip in China. There are worried about how much longer that the case that they don't pay there is no sales numbers air. Are buried now Alibaba pile camp. A good quarter I think were really just. The IV. Little bit lower than expected that that you're getting knocked it and you know and at last check it was down that much then you know but right now. Stat so you know I think. Probably. Correct. People panic right up to write about a broader picture up dot com you over the past. What's your take on the leadership picture there as we see Jack mock kind of distancing himself from the company. Going forward. Yeah I think that there had been some concerns. About whether or not it jackpot. That act. We be issues for the company but to to be in. He is not because the presence of these investors. Standpoint. You know is there are so many other leaders there. That that people out there with the gang bang and now the you know. Alibaba he's widely read. The inventor. Single day which is coming up November 11 at eight. Chinese commerce shopping I'll bail out. What Black Friday. Like here in the bay leadership I think is pretty strong genocide. There and vice chairman and there aren't. Al about a while investors need to be worried that apparently is jackpot. What kind of presence is Alibaba have outside of China mean. Obviously there you know one of the biggest companies in China but they have any kind of significant international sales of their producing at this point. They are starting to step with there international operations and much though. On the the retail side they are definitely expanding you know are the south East Asia watchers home the today. What in western markets that they are definitely with they're class businesses trying to rival. What's going on you know with Amazon having a bite out unit you know even Wal-Mart starting to try it that is that the paper or other retailers I think that the issue with. The western relationship. Bob Ward did you have. He retailers use in Europe. It. The Chinese market. You know president. Our team all week in China that. The here. Good Paul we've got to run but thanks for joining us and have a great weekend all right. As Paula Monica from CNN business talking about Alibaba by the way I I just went Alibaba.com. For the first time I've I've never been there before mentally after that so. I'm I'm going through and take note and you know the topic just kind of looks normal and it's hey we've got great prices on the textiles and outdoor sports equipment and fitness and body OK great you know that that's all stuff that goes and useful to most people. I scroll down to you know a couple of times. And the next section down is machinery. And there's a big highlight of all the four clips that they sell sort clicked on it just announced that I go okay you know what's what's the they they're actually selling forklifts are. Yeah you're right and got more I didn't know they got in all of this heavy duty stuff we do a lot more business to business the Amazon does. So I don't where to get a forklift now five or need one. Which is a nice to now in scenario would you need to fork in what scenario would you not need for. You know on board don't need for Colombia the one where I keep on living my life. Dot I thought our target this is kind of like that the classic Steve Jobs case where. You don't know you needed until you have written I literally. Don't need for the fifth but that's only what they want to explain. But they've got all different price range models there's one here. That is it's actually just walked behind Pallet trucks Thacker. For between 912100. Dollars. They have three wheeled electric forklifts that are in the one to 6000 dollar range and then they've got all terrain forklifts to go up to you know thirteen thousand dollars so depending on what you need. You got it. All there. Yeah I'm looking at their. Baird. Farm tractors and then the title of this one is Chinese chip cheaper fifty horsepower used. So early departure jet when you feel a bit embarrassed your driver on the the name of the tractor that the Chinese cheaper fifty horsepower. Notice they may have a incubators and aid incubators as well. Let's move along from my equity the Bill Clinton this is. Fascinating but I digress let's take a quick look at markets just as we wrap up by and head towards the top of the hour. The Dow Jones currently help a 136 points the S&P is off when he won. And the NASDAQ is down 85 points right now you've got gold all four dollars and twenty cents an ounce. And oil right now than the 6323. Continuing. To dip. Told time that we have for the week its shock Mike in Tucker saying goodbye and we will see you back here next week on Monday.