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Full Show 11-20-18

Nov 20, 2018|

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This is the financial exchange with the very Armstrong and chunks of you're exclusive look at business and financial news affecting your day you're sick leave 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. Well it looks like we are in line for another tough day marked at least. Early going is any indication here. Chuck Todd we've got Christine Dunn here and we've got its Tucker Sonoma. And the board is well and unfortunately I wish I could be coming to you with better news but we're not really gonna. Sugar coat it here unfortunately markets continue their sell off today. With all major US indices down significantly Dow off about 500 points at the openness and peel 47 NASDAQ off 142. About a 2% sell off that's going on here today. And Christine it's good to have you here we haven't last time we had beyond it was it about a month ago about last October a little while now. I'd be honored and happy Thanksgiving week and what I wish to be happier Thanksgiving because unfortunately this market is not while operating and I don't know if it's going to cooperate any time soon it's a lot I've I've got some concerns that kinda wanna go through and I can one walk through today. And it it's not that this guy is falling but it is the sky doesn't fall. Put this appealed cloudier than people want to admit a few months ago and I think we need to talk about why that is I think we need to talk about what's going on in the when he talked about. We are this thing potentially goes. Just because obviously. You know we have not really seen a very pleasant time in markets. Since September now I mean it's it's been were closing in on eight weeks of misery but. Very just blindly just. Like there's no work for it it's just this emotional sound you make me you know it's just like it. Just ask headlines across all the networks are now are saying that really the the gains it's when he Keener being. Well I doubt their way Don yeah. Don and so let's let's talk about what's going on specifically as it relates to. First what's moving in the market in the me we'll get into the why and whether or not this thing continues here. So let's start with. The biggest stocks that have really been hurt over the last six weeks. And specifically it's it's those bang names FaceBook apple Amazon Netflix in Google. There was a headline from business insider that these companies have had 720. Billion dollars wiped off their value in the last six weeks. As of this morning that's actually now up to 945. Billion because they continue to sell off today some of the 200 billion gone between those five names today in not really showing any signs of getting better any time soon. The biggest pain being felt by apple losing north of 230 billion Amazon north of 220. But Google FaceBook and Netflix all down significantly here. And it's it's not pretty for holders of these stocks were. Definitely not although you know holders had a really good run for a long time so I mean what. What goes up eventually must come down it can't sustain that kind of growth forever. But you know we are seeing the impact of consumers during a hold onto their phones a lot longer apple cutting its production estimates going forward sales of its newest iPhone have not been doing as well as expected. And has an impact in a ripple effect across the entire supply chain. In just its investors in general about you know what's going to be happening in technology for the foreseeable future. I have a question for Christine are you are you an apple family or an interim family I'm I'm larger war kind of split now to be honest we don't see many of those units. It's a usual I know exactly so I'm definitely on very much insurance in the apple system like the fact that comment products kind of work seamlessly together and and my older daughter is on fully in it as well in her school since they too iPad has kind of you know put her into that ecosystems for my older son and my husband are are fully entering. On users' my youngest will still be determined yet have been waiting did you get your first iPhone. My First Act and several years ago I mean when they earlier generations did zero back kind of like 20082000. Somewhere in that rate on time iPhone user although I wasn't using I was using PC at the time you discovered they didn't always play well together says switched to the apple laptop how off. Then it did you replace your phone initially was every two years there was every three how how how rapidly were you going through phones. So I've found that my phone has lasted every two and a half years that I am extremely heavy user. You beaded up are I've dated Utley in fact the Apple Store that I go to regularly jokes that I'm the only one seems to actually Wear out her phone so hopeful we'll. They clearly have a let me so it's. To Tucker what about you when did you get your first iPhone. I would say it was the iPhone four of them told to hold onto that 14. I don't know how long because I mean I pretty much it was still liked you don't really. Innovative updates each year it seemed like from the five to six but now it's just Platt road. And if this is where I'm going with this is the big issue for apple not that it's a big issue because here's the thing apple still makes a boatload of money and that's not changing any time soon. But apple used to be able to depend on this every two years you're gonna trade your phoning is a it was subsidized by the carriers where they'd say we'll give you free new phone every two years and ba ba ba. And now the carrier wars heated up largely because a T-Mobile and sprint cutting costs down and everything. And you not get the new phone every two years and that's that's a problem that apple has to deal with and I think they are trying to and I think to do and a pretty good job because. They built this services revenue now to about ten billion a quarter which is. Not doing anything to sneeze at that's forty billion dollars a year just for running iCloud and apple music and stuff like that. But it just takes time to overcome and and I think that. You know apple was going through a transition right now and any time a company goes through that. The questions we see it sometimes companies don't answer those questions successfully like IBM the last couple years they've been trying to move over to this cloud model and they just can't get it to work. So sometimes doesn't work. Other times like GM in the last five years they get new leadership new products and hate Mary bears been able to transform that company and take it where it needs to go. Apple's going through that transition. The stock is selling off its evict the kind of doing this at just a tough time just as you've got you know 10% market correction going on right now. And then they're making this transition at the same time so looks worse because you've got a 20% dip in the stock is in bear market territory. But it's not presented fundamentally wrong with applicant he's not one that business. It's not going out of business and I agree to the recurring revenue model definitely you know give the company a strong base on for the long term but I think. It needs to think about credibility with consumers at the same time I mean over the time that we've seen. You know iPhone evolved then the phone itself has not made leaps and bounds but the price has made leaps and bounds. And I would say it in the beginning when the prices hovering around 200 dollars you know you still wanna be able to keep it for longer than two years you can kind. Excuse it'd fit you know started to become obsolete after two and a half years. But now personally I don't see any excuse for this I mean if they're demanding that I pay 600 dollars earnings I wanna seal last longer than two years at 600 were about 12100 get the flagship one I mean this is the thing is that you cannot charge that much money. And expect people to change upon every two years now yeah it's just it's just not right it. And part of me wonders if they're saying look we'll go to that higher price points and look you can buy whatever three years risk and make more every time you buy one and so like I think maybe they're trying to you know figure out how to thread that needle there. I do think even though there's not anything fundamentally wrong with apple. Some of these other tech companies that are what I like to call revenue they're a profit agnostic where they don't really care they make a profit. I think there's questions on some of them in their ability to survive now. I don't think Netflix is going out of business but some of these other companies that are near these hot tech stocks and these are companies that I've owned at one point or another companies like shopper by companies like hub Spock you know. They're companies that good products on the table but they don't make a profit right now. Those types of companies in order to continue their growth they either need to issue more equity in the immediate you know issue additional shares for the need to raise debt. It's tough to do that any market like this one and so I do think there are questions on some of these companies. Not necessarily are they going out of business today or tomorrow but hey if this is a prolonged dipped that you see for the next 612 or fifteen months. I think there's some companies that have been able to skate by in an era of easy money to have some rough news coming for the potential. Definitely and you know being able to demonstrate continued innovation in this environment I mean it's definitely going to be something that. Investors are going to be looking for and being able to demonstrate that plus what you were just pointing out I think is going to be critical. And in to me it's it's not even just innovation it's companies have pricing power did they have the ability to make a profit based on what they're selling. Or did they have to resort to big price cuts in order to sell anything you know though those are things that are really important when markets start to take a turn. Can you maintain your prices are to people say. Gee you're not really that important I don't need you or I can get you for less somewhere else at that those are really interesting things to look at. Where to take a quick break right now when we come back. To dig into hey you know we've got this decline that's going on how much longer could this go where's this market going. Make sure they text us your questions at 63566. If you do have them. Obviously a lot of them coming out today the Dow now closing in on down 600 points at the moment. Will continue to keep updated right here on the financial exchange. Breaking financial news. The financial exchange with Barry Armstrong and chuck saga on the financial exchange radio network if you're at or near retirement age legacy planning is something that you're going to want to be mindful of it goes without saying that we wanna leave our children in great shape if we -- but gifting RSS beat at home or vacation property can create huge capital gains tax problem at the kids choose to sell the home Todd let's -- is an expert on elder law and taxation and he's been helping families like yours with their state planning needs for years let him help you do if you're beginning to think about legacy claiming for your family. Call for drugs brand new guide a gift or not to gift at 8668485699. Gifting assets to our children has special meaning of the children have creditor issues org go through divorce problems to arise the could be disastrous. 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They will be on time to take care viewer issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems. They're history call easy plumbing at 781. 862. 119. 781. 862. 1190. Or he can visit them online at easy plumbing MA dot com for more information mass master license number 10. 183 again the number is 781. 862119. No. Hi everybody it's very Armstrong and I'm joined today by executive vice president from liter bank mr. Jake tool and were talking about this account today 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 a god 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 Oka and if you qualify. You get some great reward so for example you 2.0 5%. EP wise you're savings account up to 400000 dollars 100000. 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It's called Zuma rewards account paying two point 05% annual percentage yield on balances up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them on line it leader bank dot com. It's called Zuma rewards account ZEUGMA. 8776917900. Security suffered through securities America income members finreg SIPC an advisory services arbiters securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. Join our brand new tax club by texting the word buried 263566. To send your first. Last name and get involved today you're listening to the financial exchange radio network. Well the market sell off continues. At this point pretty much. Just about everything down right now and we take a look at it sector by sector and in specifically. You know what he's selling off the most verses what is holding up. At this point you've got energy and tech down the most both down north of two and three quarters percent. The best sectors the utilities the only one in positive territory up about a quarter percent real estate down about a quarter percent so everything else in negative territory. In this is pretty much a pure flight to safety move that you appeared to be seeing here. On the energy front. You've got oil prices now down 5% today after four days of gains. Christine it it's good for families around here because eight. If you're traveling for Thanksgiving Christmas holidays. Could create every panelist the pump. Also good because he can potentially pay less be filled up you know I heating tank or something like that. It causes a lot of insecurity when consumers see things like this and given the fact that this weekend is also the kick off to the holiday shopping season. That's gonna create nervousness as well as people kind of ask but the American to consume is gonna come out given what's going on in the markets now. One in the other thing is you know I mentioned some things that are positive for people up here in that looked him in the northeast it's great. If you have lower oil prices. If you're living in Texas if you're living in Pennsylvania after living in North Dakota places that depend on oil to generate a lot of business activity. It can be a different story you know especially in it he talked about this oil heavy parts even of those states places like Houston in the western part of Texas in the Permian Basin. You know those are places that you know you sit in the same gee if prices stay this low mice the gonna have a job in some case. It's absolutely and I mean I think that that's definitely some of the concerns going into tiny nineteen as people wonder how. Consumers are going to respond and how companies respond. To you know the impact of everything that's going on from the trade war and every thing else on the economy. And at this point let's let's talk about how long this could potentially lasting kind of where this things goes from here. Right now when you take a look pretty much every major index is wiped out its gains for 2018 right now just about every single one in negative territory. In particular you've got as we said those banks stocks most of them are in bear market territory with apple Amazon FaceBook Netflix Google. I think those are all them they're all down north of 20% from their highs right now. This is the kind of move that you get when people are concerned about growth and specifically. You know one of the major growth engines for the US is its housing market and housing is what we typically look at. As something that it generates a lot of activity it makes about 8% of the US. Economy. And what housing slows. Then there's a real problem there and in particular one of the things is you know housing was slowing even before you had this market instability. And so I look at and you mentioned paid to people spend less around you know the holidays because of market instability. My longer term concern is people say gee we thought we're gonna this is going to be viewed by house. Now we're knocking to do that actually it's one thing if they're not buying you know beanie babies for their kids it's another they're not making a multi you know a 300000. Dollar purchase. Well and you know some of the publicly traded homebuilding companies or to cut their sales forecast for this yes just on that concern generates so. I mean we're already starting to see now where they're saying you know while there might beast tight demand in terms of I mean tight supply right now on the part of the homebuilders. They're seeing consumers take upon us because housing prices are still pretty high. New houses and they come on the market are usually priced to premium answer concede just saying let's wait and see and then you know mortgage rates are higher. In that that the mortgage rates pieces the other one it's Iraqis still have relatively high rates in the Fed is you may be saying hey we might soften and we might not raise as much as we we thought we would but we still haven't gotten any hard commitments from the Fed in terms of yup word. Pausing on hikes because it's been too much so. At this point you know we're still kind of speculating he will they or won't day and I think that's more uncertainty out there in a market that really. Needs is a little uncertainty as possible right now because there's plenty and plenty of different places and meet. You go down the list of what's out there and say okay. Were worried about breaks it and trying to figure that were worried about China and trying to figure is the situation out there worried about housing read about who. There's a lot of things out there at this point and it's not that any of them can't be overcome because you here here's why this market hasn't sold off more. You can get solutions to all these things. Markets love to panic about what could happen and then Riley when you finally get a solution we could get a great deal to get a trade deal. That makes things look better but at this point still too many questions. Yes definitely a lot of lot of questions more questions than answers share. So let's move a little away from. Market talk that right now actually record chuck yes set of 774 wanted to get your take on this I told you if the Democrats won the market were crash which are once. My first. Fox's hot garbage it's like there is as the market was crashing before the elect well mart was after. This is not related to an election that happened in the United States. In the last two weeks there's not much you can conclusively say about what's going on in markets. But it's not related to that because Democrats did not take the senate did not take the presidency which was not up for election. They took the House of Representatives. Which then the power to do absolutely nothing in the broad scheme of things. So that's my view. Thought that's a that's a little bit more uplifting and that's an interest in choice of words were talking about. Recreational Merrill have finally been available for sale a state of Massachusetts. At L. I could care less it's it's not something I'm particularly excited about. In terms of you know say oh yeah I can't wait to go only smoked weed. Acne keeps rates that it's. You know you're not going to have police resource is being devoted. To dealing with these kinds of things anymore unless they're drive and that's the one big question we still don't have answers is. We don't have a reliable way to quickly and accurately test some one to see whether or not there under the influence of marijuana while they drive. So I've I've safety concerns based on those things. Yeah so just have concerns in general about you know however and a power gonna monitor this and you know eyes as a mom. It concerns me about you know happiness so readily accessible and all that I know in towns that there are a lot of discussions going on about where you can zone for these kinds of stories in their writing keep kids safe. So I have buried very mixed feelings about the fact that this is starting. Well it in the data suggest that look if if kids become regular uses of marijuana it does affect their brains more than adults because there's still developing it's one thing. For Tucker and I'd say yet gee we'd love to go in and find some marijuana. It's another thing for an eighteen year old to say. Yeah once a week I go get high because that really does still affect their brain and most studies shown to your 12526. That's still a threat so it's not even once they go to college it's kind of the times afterwards as well. The FDA no I mean right now we're dealing with an epidemic is beeping in teens and seeing that there is definitely impact there right FDA's trying to crackdown that why introduce one more thing. But you do make a good point there an end in the fact is look if it if it's that easy to get you know these. Vaporized into school and things like that. Look I can't imagine it's going to be that difficult for kids to start finding marijuana once you have the neo legalized stuff making its way around pretty easily so. I do think in terms of you know the enforcement for children and and and you know making sure that you know kids are getting started too early on this stuff. I do think that's a big question it's still out there. I don't have any answers for it and it. And I think just about anyone you talk to says look you need more money devoted towards you know early use prevention torts treatment if people start using early. That was the kinds of things that you need. The idea is that pace some of the revenue generated by the taxes will go to that. But I know there's a number of people have said look the revenue that's being raised might not be enough to copper all of those treatment programs that you actually need one it's all said and. You know I I I understand the medical. You qualities and benefits of marijuana so I would understand you know why you would want to commend medically use marijuana. But I'm so confused by voters allowed the more generalized used to. Feel free to text us at 63566. If you have any thoughts on this coming back we got Wall Street watch with Mike Armstrong. Life goes on FaceBook and followers on Twitter. Joke breaking business news is always first right here on the financial exchange radio network. Are you having problems the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me. 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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 there's an uneasy. 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 -- state -- 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 -- need to consider as you begin your planning -- call 866845699. And get this free guide to gifts or not -- -- 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. 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 Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. Minimum deposit to open her annual percentage yield is ten dollars two point your 3% interest rate messrs. until these reduce earnings re subject to change without notice leader back a step ahead member of the icing. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Street watch a look at the market's performance so far today to marry and jog here on the financial exchange radio network. Time now for Wall Street watch brought to you by leader bank it's not too late to get a great read on home mortgage in leader bank specializes. You know wide variety of purchase and refinance loans at some of the most competitive rates in New England cult leader bank today 8776917900. War. Visit leader bank dot com for more information member FDIC. Michael Armstrong is now with this for Wall Street Watson might get a hold onto retailers coming out with earnings today let's start with target. Which. I hope you will be able to explain this to me target down about 10% today what's happening there. The decade there seems to be just stayed general selloff going on in the consumer discretionary retail sector at the overall market down about one happen. Consumer discretionary down by one we kind. They're really wasn't too much that was bad about the surge report they can hated about gone now and share which was three cents below estimates. But revenue beat forecasts and that's usually what matters a lot com's sales were about in line. But not exceeding expectations and really that's the issue here is secured not secure retailer that's not exceeding rep. There expectations right now than investors and not terribly happy so as of right now stock is down seven delegate but that's about 10%. At the same story with elm brands which is down 14% they now off 50% for the year. BA this is a story where. You have earnings would be taking aim at a profit sixteen cents a share revenue beat as well. Back bay get announced that they're cutting its dividend which is will it be different stories are just pregnant dividend in half. They beat across the board they're raised expectations that. Little bit of a different story that your cut its dividend that it's the bastard child that's right so stuffed down there about 14%. Very good Mike thanks for the time catch up soon. Michael Armstrong with Wall Street watch presented by leader bank conferred great rate on a home mortgage. Called leader bank today 877. 6917900. Call now and also mail you their free residential mortgage survival guide that's 877. 6917900. Or invisibly to bank dot com. Member FD I C. One a circle back to our conversation about recreational marijuana now being legal in Massachusetts the first two locations opened up today Tucker where did you say they open and what what's what's the deal to them. Moses Leicester North Hampton massed right yet so in the western part of the state those the first two legal recreational marijuana stores on the East Coast so. Mike of people driving up from Virginia and North Carolina justice by a little bit of that you know. Now famous New England marijuana. They had like national news outlets there this morning I gotta think like Good Morning America had a camera set up there. Outside the store in terms of we're in a whole bunch a text on this today so wanna go through some of these. One from 50 wait don't forget people are going to jail over this it's not just about the kids I think the that's one of the tough things that I try to weigh is look we obviously don't want children using marijuana because we see. The negative consequences when we talk about you know higher incidence of depression bipolar schizophrenic and things like that. But I also don't want adults going to jail. Because they were either using or selling marijuana it's it's a waste of resources so it's totally it's it's it's how we balance those those pieces there. And it's a voice of cops times to it is it I mean it it it certainly is. But I think it's just you know are we doing enough on the prevention side to balance. Yeah I mean again I'm I'm nine activists also not my nature of myself issued yeah. I mean advocate I loved I not make it's yeah it's it's really this is that these are really difficult things to try to work through so like I completely disagree with the legalizing and it. Okay and that it was wrong I think that we had enough on our hands trying to on encourage prevention to begin as an accounting issue than legalized at the exception. And in this. I can understand having you know and then a little bit reading on the matter that there are very clear. Benefits from a medicinal standpoint. On so I can understand if somebody particularly people who are suffering from severe and chronic illnesses. This can be beneficial. And would not one to hold that back from the but to just make it widely available. You know seeing some towns struggle his own mean. On of where to locate these stores that where people are Klein suit to Alabama where they're being. You know located near schools potentially and all that I just I fundamentally. Disagree with the act. He here's another question so Tucker and I obviously we went to high school ecologists long time ago now but I don't think it's 22 different at this point. And if you were on a high school or college campus at that point. There's marijuana on that campus especially high school and the problem is that especially this is something we've seen a lot recently. You didn't know where it was coming from in you didn't know what was it we've seen a number of cases recently. Where kids have had to go to hospitals because they've had marijuana laced with fentanyl marijuana laced with political buicks and things like that. And so from my perspective. Part of it also is paid by controlling the whole distribution. You eight take a whole bunch shady characters off the street and also at the same time. You have better control over what people were actually getting in so you don't have some of those other view that the really serious stuff where people are you know incidentally ingesting OPO aids. What are your thoughts on something laid back. Even make that argument for any threat to comedic argument for harrowing you can make that argument for cocaine and mean. At that doesn't change the fact that they think that fundamentally we don't need to be putting this out there so vitally. For for it and make it's are readily available for kids to it to access. I mean the FDA's now seeing this again beeping. You know I did you regulated that much and now they're discovering their all these house the facts why put another thing out there are so readily on the market. Mean the idea that let's just you know let's just make sure it's safe marijuana that's out there I just I don't buy that argument at all okay. The good news is that we have a poll question up on this very very question here. Will you buy a recreational marijuana over the next year it's up right now on financial exchange showed dot com. Make sure you go there and vote and also. He protects and again that there's plenty of different opinions on this as far as hate. Did Massachusetts do the right thing did they not do the right things to make sure. You both go and vote in our poll question of the day at financial exchange showed dot com and also Texas at 63566. Folks I do wanna talk to you about a new event that we are doing. Coming up in just a couple weeks on December 10 in Burlington Massachusetts. We're going to be doing a live broadcast of the show as well as. A seminar afterwards. And specifically it can be focused on this unpredictable market the market is unpredictable right now because of that. Need to make sure that we're prepared for the future. And so you have 400000 or more investor blast sets I want to invite you not to join us at a great event that were hosting on Monday December 10. That again is Monday December 10. At the Tuscan kitchen in Burlington Massachusetts it's going to be a special live broadcast of the financial exchange. Followed by an educational launch with the Armstrong advisory group and we're going to be talking about strategies to help you become smarter investor. How to properly planned for your retirement and also how to protect. Your assets from the high cost of nursing homes we do these events on the quarterly basis so some of you've probably taken part foresee kinda know the drill. But the way it works you need to have 400000 and investor alas it's to attend. And space is limited so make sure you call right now 800. 3934001. To reserve your spot it's on Monday December 10 at the Tuscan kitchen in Burlington. Good to talk all about what this crazy market is doing now and how to make sure you're set up heading into the future the number to reserve your space is 800. 393. 4001. That's 800. 393. 4001. And we're gonna be at the Tuscan kitchen Rican experience true artisan Italian cuisine and you can also find a location near you at Tuscan brands. Dot com. That's a great opportunity because a lot of people when they see a market sell off like this their instinct instantly attract even more pull back and re not. Consider getting back into the markets are really understanding. How to take a look at those fundamentals is a great opportunity. It is and so hopefully we'll have a bunch of people join us again the numbered called reserve your space is 80393. 4001. Talk a little bit about a couple stocks and a week we touched on target briefly with Mike targeting Coles to struggling not struggling retailers but to struggling retail stocks now. It it just as Mike said these companies are missing their earnings by a ton but I guess that's not enough to keep afloat right now casting. It's not about earnings and it's not about the revenue numbers I can tell you taking a look at target's earnings investors are concerned about gross margin. And targets third quarter gross margin rate fell to twenty point 7% between nine point six so what does that mean that means for every. Dollar. That they're selling they're making less on it and so what investors are saying is. You know what these higher supply chain costs are problem and it doesn't matter that you're saying that you. But you know had more higher supply chain costs for the fourth quarter were worried about that. Well they act Perry and specifically when when they're talking about that they're saying look is this going away any time soon like if if you're saying you have higher supply chain costs. Is that temporary is that something that's now permanent because of you know tariffs that are in place those are questions that investors have for these companies. An and companies can not and retailers came out across the board in September. And sad luck this trade war with China is gonna severely impact our business and it's gonna impact prices for consumers. So investors are looking at backers margin number and saying see this is what the retailers are warning about in September and Wal-Mart issued a letter. To the US government's. Saying hey this is going to be a problem engaging in this trade war and this is what target saying this is what investors are worried and this is why you're seeing this office. In in the reason why it matters he might say oh what's what's 1% of a decline in margins member companies are profitable on every dollar that they sell they'll barely profitable on you know a portion when it's all said and done. And so if your profit margin overall is 12% of it goes to eleven. Pay debts that you not saying OK the stocks be worth 1% less you're reducing your overall. Profit in that case of be by eight or 9% this case you know you get three or 4% reduction in your profits that. Having the other key metric that investors look at when it comes to retailer like cost same store sales and I know that Mike alluded to that when he said com emails which is another way that people do it. Seem stores sales as an indicator its sales at stores have been open at least a year and so that says okay how are those stories and have been around longer you're not getting a boost from opening up a new start is every bit like something yet to keep the good news stars ray you're looking at existing stores. One point nine percentage points of the saints are sales growth so they pretty much made their saints are sales estimate but. Almost cheaper sign of that cancer sales growth. Was from on line sales. And so that you know adding that their current stores aren't necessarily. Getting the traffic that they're looking for the other thing is the average shoppers ticket dropped. So so not a good thing it's is not a good thing against it's the it they're looking at the quality of the sales not just the number of sales and not something we need to watch bidding for it as if consumers are starting to buy. Lower priced items where this trying to buy more things on sale. Or you know they're they're just not converting it all they're going to the servant not converting enough that is definitely a you know sign of trouble for these retailers and they're gonna start looking at that across support his target is discounts start to discount to our rights are. So right departments or is having this trouble you can bet other stories are gonna start having that struggle. Quick break now when we come back to camp for seeking alpha is gonna join us here to talk about a company called. Global blood therapeutics who are they what do they do stick around and you'll find out. 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 can tell us what you think right now by texting us at 63 66 the skewered battery and join our exclusive club this business financial exchange radio network. Hi this is very Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage meter bank specializes in a wide variety of purchase and refinance loans at 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 music faster closing we're bank is the number one purchase slender among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917. B 900 that's 8776917900. Thing get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 8776917900. Is the number to call or visit them online at leader bank. Dot com member FDIC's equal housing lender ML customer for Portland to find zero are subject to credit approval leader bank to step ahead. 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 is an expert in this state -- elder law and taxation and if you're 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 and what happens to the -- of the child has -- issues these are all things that you'll need to consider is you begin your planning -- call 8668485699. And get this free guide -- gifts or not a -- it's 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 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 and their professional punctual and thorough and all the work that they do so if you need a reliable plumber with fair competitive prices. All easy plumbing. Easy makes it easy they're experts they're knowledgeable they're courteous they will be on time to take care of your issue and make sure that it doesn't happen again all you have to do is call today in your plumbing problems they're history call easy plumbing at 781. 862. 1190s that 7818621190. Or he can visit them online at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 781. 862119. No. If you're real estate or property management company you need a 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 digitized 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 it's innovated to see rent payment platform leader bank has a team of business bankers there on call to help you and they'll come to your place of business and make it as easy as possible the number to call is 8776917900. That's 8776917. B 900 find out why many of greater Boston's premier property management and real estate companies choose leader bank as their banking partner call 8776917900. Or email BDO at -- -- dot com for more information member FDIC equal housing lender. On top of breaking financial news by becoming a member of the carries for gay blog under financial exchange does come in sign up today. As promised Joseph McCann now joins us here to talk about the stock global blood therapeutics. Joseph what's good to have you on today how are you. Greater tribute bear absolutely. Absolutely you can you tell us a little bit about the company and in what the do what what are what are they trying to was specialize. Georgia had to have been a controversial name and I think all year really and they released them late date results in the summer early spring. They're trying to address sickle cell Anemia patient to really unmet medical need a lot of green pepper could go off and and have. Is terrible attack where they're. But Spain than and our bodies in. Group B the company's working out trying to make the patient has a little better. How far along are they in terms of developing treatments for. Yet whether that wanna talk about the stock text too controversial to help Obama are. The company right now trying to get yet you to review their drug application earlier then a lot of parents might be we repute. And so one of the key things to look for before the end of the year which could look at our backup after it a lot. Is the FDA agreeing with that plan and look at you know what you guys are. That that's one of which you went to look at that. How often does the FDA go through something like that where they Seattle will speed this up in neo fast track the process for companies. It's actually an entire mechanism may develop called accelerated approval is really pretty decent but nothing or very limited options and nuclear. Issues from the from the duke beat so it's really about whether or not they've met. If you're ritual that exist in mechanism. To get approval at least get a look at a commute mr. Richard yeah. In terms of you know why this stock is controversial one of the things that I I saw that. In terms of the the studies that were done instead look at it worked on one level that I guess it's supposed to try to improve hemoglobin levels. But he didn't actually improved Keener acute attacks how how does that fit into the kind of whether or not you think this is gonna move upwards. You know that it that the that the big country so there isn't there a conference going on their next week the first look at the number of course. Or where they're gonna present additional data and really trying to I questioned the F. There's a connection between. Improving the help of the play the hemoglobin levels and the actual physical clinical outcome of the pits and are going to how. But solar and better if they're stroke. They're very and on point or to get more great. What other than that wanna have editor there at the company a sudden I. Have gone under and we talked a key opinion leaders across elect about what they. They're really a little bit of a mixture and what they really good apoplectic next week at the conference ash in the air are the race he just Wear a drug along. In the next you know few months. Joseph how much risk is associated with this name is is and it sounds to me that there's this and it upside potential on this but it sounds to me like it's very risky and it's it's dependent on a couple things kind of breaking right. It definitely has started status two point one at the record the company as I could pull off the regular hypocrite comp committee that thirty. Actually I think in my opinion and really it was a work profile but it is the more downside but it's not already quite well. Out. Secondly I think there are two options for people when I say it directly. One you can give them more risky thing which is you know I think they're good competent gonna go well if you're gonna go along with our lead the doctors. The this is valuable the second has to wait till after the conference and then you'll Wear but the benchmark are within your back. And then make it this is Eric you could have a little bit of respect around the table probably the but potentially appear a situation where. All the value after it you know a lot more stuff that's kind of what I liked the sake because there. People. Two options that it but their own personal. Surrogate Joseph we appreciate you joining us thanks for the info today have a great Thanksgiving. And will catch up with the soon. Your character art. That is Joseph the camp from seeking out the company was talk measures called global blood therapeutics the ticker on them should you want to do little bit of research on your own. Is Jean BE. TM and modular ordered the Joseph sounded exactly like number eighty but it sounds just like him do you think that's good bye week this week. Iowa and Tom's ought to publishing stuff octaves is probably you know like under the name Joseph McCann. And that's he did just sound just like he did it. He did sound a little bit like him you know but I guess. Well now you've got me that's I can't get out of my head unfortunately and so it's a scandal lingering there. Quick look at markets we are having a little bit of a rally as we head towards the top of the hour we're down now off 336 S&P off 25. NASDAQ off 460. Little bit of a relief rally we'll see if we have little moment and keep movement or this is just they dead cat bounce. Quick break here or back in 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 at 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 some money 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 got a break 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 -- -- 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 -- in the process of legacy -- 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 -- 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 online rent collection product called zero and it's a great service for landlords allowing them to collect tenant's rent payments electronically and he rent dot net without the need to collect checks mostly in the reduce local neighborhood banks to do their business and now a collection of local banks are offering this unique program including leader bank and stolen bank member FDIC. If you're a landlord and are interested in having your bank required does he ran technology Tillman McCall does he ran team at 781 at 6418691. That's 7816418691. Or visit C Rand dot net stop chasing down late payments and running to the bank to make your deposits at your bank to add zero to its list of offerings. Visit C Rand dot net or call 7816418691. For more information that 7816418691781. 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 403 B is yet 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 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 faced 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 dating 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 80393. 4001. Or you can also downloaded for free at Armstrong advisory dot com once again that number is 800. 3934001. Or 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. Are you having problems the blocked sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently. In believe me I've had all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. Cult easy plumbing. Easy makes it easy either experts they're knowledgeable they're courteous they will be on time to take care 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 781. 8621190. Or you can visit them online at easy plumbing MA dot com for more information Massa master license number 10. 183 again the number is 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 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 represented if Armstrong advisory group the securities and our two companies are unaffiliated. It's pretty hard to find a bank that -- -- checking and savings account that can provided decent return and if you're in the market for one I've got to deal that you're gonna wanna check out hi 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 Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. Minimum deposit to open and an annual percentage yield is ten dollars to put your 3% interest rate messrs. insulate these reduce earnings re subject to change without notice leader bank a step ahead member of the icy. And. This is the financial exchange with the very Armstrong and show Oksana. You're exclusive look at business and financial news affecting your day you sit. Your world stay informed and up today about economic and market trends plus get breaking business news every day it's. And now the financial exchange with the very Armstrong and chuck Exxon. Well market sell off continues but a little bit of relief from where we were earlier this morning. As it does appear that there's a little bit of a relief rally going on. We'll see how long it it tends to hold earlier this morning. So woke up. Futures were off about a 150 points. Some stuff apple we got a limited data this morning on housing and some other things futures dropped 350 points market opened market dropped 550 points. Market continues stay open and now we're down 350 points. Tucked not a Christine Dunn and Tucker Silva here and Christine this is a fairly it's a vicious market sell off is look. I know we get caught on these headline numbers were out down 500 points that sounds scary. Dow right now is off one and a half percent you know. We're not seeing a black Monday from 1987 where we lost 22% the day in order do that would have to lose 5000 points. Which I'm glad we're not doing. But it still has this little spooky for folks to go through we've been lulled into a false sense of security market. Swell and also we had such a great run in the beginning of the year that. It's gonna make people you know unhappy with the fact that that's happening but the fact is is that if you were kinda waiting for the father arrived because you can't go on forever. I'm I'm curious Christine talked to anyone at the that you know who. It is spooked by what's going on in markets to the point of changing any financial decisions either. What they're buying for their kids bird you know the Christmas what they are doing in terms of vacation plans home buying if if we talked to anyone who's changing plans because of what's going on now. No not recently I have in fact I have been actually surprised. And you know that people have stayed relatively optimistic. I think that's I think that it in my own world view. I knew back in back in June and July I was I was feeling a little bit more pessimistic comprise the average person I spoke with and was preparing for fall. I think also I've I've wondered about the strength of the economy for you know the mid term. But people seem to you know really. I have bought into this idea that the economy seems he'd be doing pretty well looking at jobs reports and all of that so I've been actually impressed by the fact that optimism has stayed around as long as has. Yeah and it view we certainly have continued to see that optimism I think one of the big things that will be looking for on that. In terms of you know the the consumer side. Is tomorrow we actually do get consumer sentiment number that comes out at its peak at 10 AM somewhere in that ballpark and then next. Monday we get consumer confidence coming up both those consumer confidence in particular became an eighteen year high. Now with its last reading some curious to see if that mean team to strand. With this market sell off now going into its second month and if people are starting to get concerned and also I think. You you're spot on terms of what is the competence has remained strong I think the question I have is how long can it remain strong if we continue to see weakness in this. It here I think Aussie you know a lot of investors Leo look at these earnings reports nor attempt for retailers in north to give them an indication of how the consumers feeling. Yeah but the thing is is that right now we've seen a lot from the traditional. Retailers and they'll be really interesting to see how Cyber Monday. Where do you do most of your holiday shopping online or in person I definitely shifted to on line it just really is a lot more convenient I'd like wide variety in the right selection I also like the fact that you know using my Amazon prime. I can get things next day I mean. You know my son needed a pair of black pants her concert and I realized day and a half before the concert that is black cancer fitting in many markets he had shot up a couple of inches last few months in. So I put an ad or Amazon prime and he was also efforts concert. Is there anything more disheartening and keep growing out of clothes after a couple of months to tell you I don't think I I don't have kids but I can't picture being like oh GS but you know X number of dollars on those pants were set on pit. No it's we're not even out of the season and we're not sit on pants anymore. News pants have the same thing with the winter coat. Taking my little one ounce at Plymouth plantation for a field trip that cold Thursday when the snow's days to come oh yeah every at that winter coat that I thought I was gonna fit isn't gonna get after them. At least as I even struggle with it you know with myself some times where it's like oh gee there's wore out faster than anticipated but you know it took two years in I'm disappointed there. I can't imagine having to buy like new clothes every two months of talk this is what you have coming in. Yeah about a month now five weeks yeah. To Donna and Alex and the crowd almost pop up with almost toppled do we have any out further update on the line as far as boy or girl. At the thing yet the favorite ways boys of my boys to a fifth yeah boy that stupid idea okay. I may have to laugh at another another bad in the rain that's what Vegas has the odds you know we'll we'll see if we get some better ones and a NATO involved on this one if you get weight vault that chuck. Mondale song okay. It's ongoing with. Seven pounds nine ounces this is a prediction yes Coca seven pounds nine ounces tea and the bartender and the gender I am going with. Have a girl and you have to but don't tell us are disappointed Tucker a everyone's listens. And wants how how how taller babies typically when they're born I had no idea to support. Notably it's not something that specialized and I'm gonna go with it ultimately do little more research on height and I'll get back again. Let's talk a bit about this a situation that continues to brew with really no. With France now seeking interim leadership after Carlos Golan. Arrested and charged with. Well we don't really know what he's charged with at this point at Nissan saying that there were significant financial wrongdoing that happened here now the French government getting involved is they are a significant stakeholder in Renault. As well yeah I mean it seems like there's the Japanese government I guess is saying that he under represented his pay. And so say he has been arrested and I guess the French government is saying OK well over any given the benefit of the doubt until we get more details it's definitely unnerving. Is renowned Mitsubishi and he signed. You know have formed this alliance that. That you know both that both countries are really relying on to help the automakers. Yet as this one I don't know win this is going to necessarily be over but the French government does have a 15% stake in Renault. And so they are. The biggest shareholder in the company and so they've got a pretty good amount of power when it comes to figured out hey who comes next in this in this role at this point. And you know this is big for a company that you know. Don't largely is credited with turning Nissan around Nissan was a company that was really going anywhere before he took over. And he's had under his leadership you know a number of majors successes most notably the Nissan rogue which. You can't go half a block without seeing you know one or two day. There are everywhere at this accident rate car you drive when I don't have one although I really like them in a couple of times and I traveled I've gotten one as a rental and and anti it's a great is it right yeah. I've never been and I've never actually been in when I must be the only person Americans that's. But I see them if retired now and they are now I believe it's in the second or third best selling non pickup trucks in the country and this idea that. There they're right up there with the raft foreign CR because that's what everyone's buying used nukes and small compact suvs. That you have all designs Eric I'm Jamal. Just everything about it could amount of space but not too big or anything I'm telling them exactly. Amazon employees joining the rush to buy Long Island City konduz this according to a story out of the Wall Street Journal. And they quoted one local brokerage firm saying that they sold. A 150 units over four days last week which was fifteen times their normal volume. Well and good day for those brokers need exact happy Thanksgiving hoop interesting too because some of them are making purchases before the announcement was made. And so that seemed to be you know an indicator of what was succumb. And you know while while you know insider trading of stocks you know of course can't happen. On the ingesting any kind of insider buying realists. In terms of what this is going to do to those neighborhoods and of one of the big concerns that this turns into. A replica of what we've seen in Seattle and San Francisco where. You know middle income legacy residents get pushed out as you see new developments that cater to these new wealthier more affluent. Individuals. Hate you know it. Part of me says New York city's big enough to absorb all these people because. It's 25000 people going into a metro area near twenty million plus. Puts some of these specific neighborhoods if you have people who want to be right near these campuses. They might not be able to absorb that without pushing out a lot of long time residents and it's I'm not saying that it's. I'm not saying that it's something that shouldn't happen but it's just it's sad to see because you see fairways that might have been there you know for multiple generations they get pushed out. You know in the name of progress. And they're not thought of in a lot of these decisions. You know there's an opportunity for those families as well because yup at this sobering in alive related service jobs. You know true if you think about all those in place command any places to eat you know eighty places to shop. You know they're in any accounting services and legal services and all the services kind of world lawyer when the panic column went you know living in an area. That's an opportunity for a for those you know current residents in those areas. And fact they're talking about that in Virginia. On because the area and which Amazon is moving in Virginia has been pretty sleepy and they had oh yeah a lot of empty space in office spaces that are going on rented and all of that. And now they're seeing in their reintegration there and in fact you know. It's expected to lift up the whole economy ME one one article cited the fact that the average office rental rate could double in ten years in the Tino just. Indicates the infusion that's gonna come in that. Local economy and help them out. Let's take a quick break here when we come back we're gonna talk about why you should avoid buying Christmas tree on Black Friday apparently is the one thing you really should be buying right around then. Quick break we're right back with more after this. 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 Jones soda on the financial exchange radio network. If your money saved for retirement you're ahead of the game because a significant percentage of people nearing retirement age haven't saved anything having the money is one thing knowing when and how to take it is another hi this is very Armstrong required minimum distributions are mounts that the federal government requires you to withdraw annually from a traditional IRA or an employer sponsored plan once you reach the age seventy and a half I take calls from clients all the time with questions about this process so avert a brand new guide available this month called understanding required minimum distributions -- have all the information you need to make sure that you follow the guidelines set forth by the government without incurring any penalty to -- is free and it's your by calling 803934001. That's 803934001. Or you can download it right now from our website Armstrong advisory dot com. Terry suffered to securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. 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 -- in -- can help time -- an expert -- estate planning 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 -- 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 -- call 8668485699. And get this free guide to gifts or not a -- that's 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 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. In believe me I've that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy plumbing and 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 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. 1190 that 7818621190. Or you can visit them on line at easy plumbing MA dot com for more information. Massa master license number 10. 183 again the number is 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 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 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 -- 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. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. insulate these reduce earnings re subject to change without notice leader back a step ahead member of the icy. We have part of the financial exchange in an instant by texting us and 63566. Starter tell extra keyword Barry and become a member of our brand new textbooks tell us what you think 24/7. Right here on the financial exchange radio network. Let's do a little bit of trivia here on the financial exchange or trivia contest today 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 that mission. Is to provide you with a better way to eat visit seasons 52 today in Burlington Chestnut Hill. Or Palm Beach Gardens or go to seasons 52 dot com from a new information and reservations you can book your holiday party today. Special give all your guests. And we're doing trivia today based on the Elton Johnson's 44 years ago this month old and John's greatest hits began a ten week run atop the billboard 200 pop album chart. And eventually sold 24 million copies worldwide a heck of a lot of copies of one CD also. Reform million. Oppressive anyways if you know the answer to a trivia question Texas at 63566. And let's do this is I don't know. Let's do. Ninth right answer just because I feel like we haven't done that number one ounce of the ninth the right answer is going to get a fifty dollar gift stepped it seasons 52. Texas at 63566. Which musician. Inducted Elton John into the rock and roll hall of fame in 1994. Which musicians inducted Elton John into the rock and roll hall fame. In 1994 Texas at 635669. Correct answer is going to get a fifty dollar. Gift cards seasons 52. So. This was a funny story that we got from USA today it's titled why you should avoid buying Christmas tree. On Black Friday or Cyber Monday in the pieces of is that. They're expensive there. But the point that was made in this article by someone from and I didn't know this thing but the National Christmas Tree Association so that's a thief or an NCA don't know. It's yet and the area so the FC TA is saying that the best time to get a Christmas tree the best deals are found on December 24. Two it's I say. Yeah well yeah but you bring up her mystery on December 24 that doesn't make a whole lot of sense. I will tell you what I'd do is you know every year you go out and there you eat you know you get your stuff out. And at least one of your sets of lights is dead from the year before. We're always annoyance and it's that one might ultimately slows the whole line and there's always like it doesn't matter if they were all on the year before there's always one set that you pull out ego. He does work so my solution on the 26 of December. I go out to usually just BO Walgreens and CVS or somewhere like that. All the Christmas lights are on sale at that point raid in you can stand up for like 75% off to him and so I do my Christmas lights shopping. For the following year. The day after Christmas is no one else wants and then. I did find some of this interest in this data interesting Christmas trees cost an average of 77 dollars bets the national average. At all those trees are with the average height and Christmas just has no question seven dot I mean a lot of neighbor's tree. You know sighted thinking about that now it's like when it irritated and many Catholic and that sets the seven and a half I would guess seven. I would guess seven ceiling. Do you know where most Christmas trees are grown. The woods. A it was hawker at Canada already know it's in the United States most in a grown an organ. As well as North Carolina from the as the two biggest thing or two biggest states in Christmas trees actually. And we actually do three Christmas trees last year renamed Huey Dewey and Louie. And they were beautiful and these 37 foot tree snow so we do a seven footer a six footer for four. So we do a seven footer in kind of our main living room we do a four footer in parents are it's exporter in our late entry hall way. And then we do a four footer and are bad blind. Why not. As one's good. Talented enough. Hey we Janet eight were big in the Christmas all right and you know we we we like to support the Christmas tree grown community the National Christmas Tree Association lost us yeah I'd that they love us so. They they are saying that the best data by Christmas tree you want the cheapest one is on December 24 a lineup Black Friday too which I. Oh I don't know. I heard it is more expensive. My goal turning the agent Thanksgiving probably. Did you notice. It's Christmas decorations when early this year there's there's a house on the next year that house and there acting like it was Halloween and I saw a Christmas decorator is this in the they're selling them. It did. I always am of the opinion. You can't jump holidays so if there's a holiday I mean it can't jump it so like you can't put a fourth of July stuff in you know before Saint Patrick's Day there's. There's a house down the street that Ernie has a Christmas lights decorated and I saw some early resident for like early November and so my view is look. You can jump Thanksgiving Thanksgiving has become Christmas halftime mental is that if it's unfortunate to. Is it should have its own special all that's so depressing but I think you're right now. Like I don't like it has become Christmas hat that's really good again it started playing Christmas music and everything else that oh all the ads all over TV yeah it's nonstop. Which also reminds me like all the Christmas ads for people buying cars for their spouses while. Who does that. No no one knows it. Importantly can I get one of those giant goes to put on something else just as far below what what Carter is that I like where you get a boat that day I didn't know they existed. Home builder confidence plummeting to the lowest level in two UB two years as quote demand stalls. We continue to get bad news on housing Christine. Yeah I mean absolutely and as you're talking about earlier rising Morgan mortgage rates are definitely not helping hands on you know. Home price growth is still high at the affordability factor is definitely there people are waiting to get into the market and you know we saw some of the nation's largest publicly traded homebuilders like Lennar KB home are you lower their expectations for sales for 2019. Because of this. In in this war is you know when we talk about home builder. It makes up residential construction makes up about 8% of the US economy so the concern the people have when it comes to home building. Is if you see 810% drop in construction so let's say. Builders say gee you know I was gonna build twenty houses this year now I'm gonna go down to eighteen. You say okay what does that do well you don't need as many workers you don't need as much wrong materially. And so what happens then it creates a direct draw down on that. Four beyond housing activity it's a 10% dip. That you porn on this 1% of GDP out of the equation there NN has a meaningful impact is he pulled out out. All other businesses start slow home builders kind of lead the way and that's why we will be housing data so much but this is something that. When we talk about how far this. This dip could go how long can blast. The weighed housing is moving right now isn't really indicative of a market that's just gonna bounce right back you know it's in them I'm not trying to spook people but. There there's something happening in housing and it's been happening for the last four or five months now and we've we've been saying hey let's wait for one more data point. The data points are there housing is not good right now in anyone who's you know kind of looking and saying OG you might doubt there's not really anything to suggest bounced back anytime soon. Well and the fact that hit consumers there and starting to take a look at their own debt levels and send all comments status to match. I mean you know that's that's something that is definitely looking and you can insert semen impact the housing business. It is quick break then Disney and fox. 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 claiming 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 -- 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 -- taxes 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 -- call 866845699. And get this free guide -- 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 -- It's pretty hard to find a bank that has 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 two point 05%. Annual percentage yield if you're searching for great great it's time to call leader bank at 8776917900. In addition you'll receive a free information packet featuring -- guide to Zuma businesses that number again is 8776917900. Or visit them online at -- bank dot com. You know deposit to open and an annual percentage yield is two dollars two point 03% interest rate messrs. insulate these reduce earnings re subject to change without notice leader back a step ahead member of the icy. Are you having problems the block sink or drain. What a leaky Foster a shower. These types of minor problems can become big headaches if they're not dealt with quickly and efficiently in believe me I've that all kinds of trouble trying to get people who can come in and do capable. Qualified war. 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. Goalies he 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. 119781. 8621190. Or he can visit them on line at easy homey MA dot com for more information Massa master license number 10183. Again the number is 781862119. No folks it's chuck and Mike from the financial exchange we're talking about required minimum distributions are 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 403 B is yet have to take out those required distributions before the end of the year. Otherwise you faced some penalties Mike how steeped in the penalties be on our d.s that are taken out. There can be very severe so. Let's say your first year required distribution is I don't know 5000 dollars and you've failed 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 phased in 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. 3934001. Or 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 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 full show us just punch up that listen button had financial exchange show dot com. Our trivia question last segment. It was which musicians inducted Elton John into the rock and roll hall fame in 1994. Correct answer was Axl Rose the Guns 'N Roses lead the singer who whether answer Kristi. Jon Drake cat had the right answer today congratulations John. And our trivia contest today 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 is on a mission. A mission to write you with a better way to eat. Visit seasons 52 today in Burlington Chestnut Hill are Palm Beach Gardens. Or go to seasons 52 dot com for menu information and reservations. Book your holiday party today and get this special gift for all of your guests. So a story that we're gonna have to update a little bit just we get more detail on some surrounding pieces here. Headline from the Wall Street journalist Chinese approval keeps Disney fox merger on track to close early. But another piece that we're getting some information on today. The first round of bids for the regional sports networks that Disney had acquired from fox Justice Department. Is forcing them sell off. This unexpected bitter and their Amazon beating on those regional sports networks as well. Yeah I mean Amazon is definitely aggressively expanding in the medium market you know they on the Washington Post of course and he and there's Amazon prime video which of course is how many award winning shows in. And movies recently but now it looks like it's getting into sports and competing against several private equity firms interestingly. And in looking at this overall Disney fox deal seems like it's getting pretty close to. You know could it conclusion here. And it looks like originally they are projecting a mid 2019. Deep but the east Disney CEO Bob Iger said they could be done meaningfully earlier than that date now. I'm really cares about Amazon saying they want to own these regional sports networks aged eight yup kinda keep them on basic cable or did they pull off and say we just want to build streaming pot. On that without a kind of follow the trend Witten an Amazon of course is the is you know leader in this streaming trends. You know. Traditional TV is really the public is not good is losing. Viewers by two rows in fact how bad is it and more than one million consumers cancel cable TV are sadly it's extra subscriptions in the past quarter and that is one of the largest seasonal jobs. Do you still maintain a cable subscription so I do about it's funny you asked that because you know just a couple weeks ago eyes thinking about the fact never watch. I'm really really. I never watch it with the exception of you know 1 cartoon in the morning and at my elementary schooler refer you just schooler we watch it you know as a finishing up at this. I'm just a stream now. In terms. I guess you know the big thing that I look at with. You know cable and how they try to deal with this you have you know they give different companies that are trying different things some of them. You know AT&T is saying okay we're gonna try to build you know this whole mobile streaming thing that we can do. Other companies like direct to your arms are not DirecTV. Other companies like give Sony is getting into the you know PlayStation viewing broadcasting via streaming. You've got different approaches. But. It still doesn't deal with the core issue in that look it's one thing if you say okay we've got a new streaming platform it's gonna make us 75 dollars a month for the household. To console was originally paying you 250 dollars yeah you know you might get some revenue back but you're not getting all of it. And I know that consumers want to I don't think they're necessarily wanting to go back to paying 250 a month once they do down to a lower price point. Well millennial is definitely aren't even these so called skinny bundles were there trying to offer more limited range of channels are not selling and the way that they hoped for share. You know I'm wondering what is skinny due to you know last holiday traditions like you know people gathering around on Thanksgiving to watch the football game. I mean if you're if you're starting to move towards a more streaming environments. What is it due to all of those you know big moneymakers traditionally for a lot of these sports and and other programs. Well in and think about there's so few things that. Everyone tunes in to at the same time now sports a one of the things that's held up better than other other aspects but. You know you look at some of the things people used to wants to get used to be OK you know you even ten years ago yeah you might not be watching ABC you're CBS or fox but. Pay yep breaking bad was on last night you know we all watched that at the same time whereas now. You know Netflix puts at a shown people being watched at different times and all of you watch this no we haven't gotten around to it yet so we're watching something at lake. It's fragmented. The way that we kinda go through that consumption of media it. Kind of makes you wonder about that sense of shared experience doesn't it because people like to kind of talking gather. Around you know sharing the experience of watching something right right and right it kind of but it kind of takes out a little bit away. Folks I know that this market is a little bit bumpy right now and a lot of you are probably concerned about your portfolio. And the good news that Armstrong advisory group is now offering free portfolio reviews. If you want to have someone take a look at. Whether you're concerned about you know it's just the short term that's coming up what are you concerned about a long term plan and wondering if you need to change what you have in place. We are now offering free portfolio reviews and all you have to do in order to get one please call 800. 3934001. Once again that number is 803934001. Securities offered to securities America incorporated member finreg SIPC and advisory services are for the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. So Taylor Swift out early signing a new deal with Universal Music Group she previously been on a label called big machine records that was. An independent label that was under universal's distribution arm. Butts is there's some things about this deal that I think standout. When we talk about him what she negotiated in. What what kind things did she building this deal Christine. Close to try to help her feet on her fellow artists on the label because some one of the things that she stipulated with that proceeds from many stockholdings in Spotify. That universal has and they sell. On would be distributed to the label artists at a better rate than paid out previously by you know other major companies who did similar things. So you know she's really young and she's really been beaten a drama on the fact that artists need to have a fair share of the streaming revenue and this is another example of how she's continuing to advocating use her position to help out. Those are the growth of music streaming and Internet based music I think it's fascinating when it when it comes to what it's done to. Really what artists are able to earn it you it used to be. You know you. You had bands and in an artist that were able. To say okay. We're going to still be able to earn a living based on the that we can attract small local crowd the local venues that might have two or 300 people and we can sell enough CDs and there at least make ends meet. That market is largely dried up for a lot of bars Billy you look at a lot of the small venues that used to be the starting points for artists. They're kind of gone now you know you you talk about some of the big when CB GB in New York which is gone. What's the one there's one in Boston Alston that closed down a couple of years ago TT the bears. But all of these cities have Vizio small one to 300 DOC venues. That have closed down because the market for those artist dried up. What's happened. The bigger artists have a much bigger platform than they ever had before but it's a lot tougher to get to that point it's you know the the idea of the starving musician starving artist. It's gotten worse as a result of street if you make it your bigger. But it's tougher to get to that point because there's so much competition because. You can't just you know have that spot that you go to that you play every other Wednesday night in your town anymore to that place is gone now. It's really challenging for small artists try to make it at this point. And I like what Taylor Swift is trying to do here but there's been a fundamental shift to how music's consumed in it's really hurts smaller artists except for the ones that hey can capitalize. I kind of blowing up you know if they go viral for one reason or another but the other smaller ones are really struggling. Well any I would I would kind of say that you see that across content creation and general ray you don't just mean that in music is CNET rating yeah mouth journalism. On and you know I think it really comes down to it's great that we have access to all this information now. But we have to start asking ourselves you know do we value and how do we value that the work that goes into creating this continent. On at some point something's got to shake out because you know we need people to create the content that we like to read and read watch and listen to that of for not willing to pay for it. Or an had a problem down the road. Bad news for the parent company of Victoria's Secret L brands continuing to struggle and we got some news on was the CEO Tucker can't remember. We yes there's an SE Jonas announced earlier this hour stepping down yes so. That they're still struggling at this point. And in you talk about you know what L brands is trying to do here. They can't really figure out how to turn around as Victoria's Secret brand at all. Well and a lot of competition because you know Victoria's Secret. On has kind of had the same formula for a long time straining get a little tired there. But women are also starting to really appreciate some of the upping coming brands like this company third love. That you know is really talking about OK well how do we create. Close underwear that really fit. The diversity of women's bodies they're out there instead of just trying to do cookie cutter 111. Style fits do you think this is they salvageable situation for Victoria's Secret. I think that I think at the premise that Victoria's secrets was built on on in terms of fashion. On styling is has gotten old. And they think that the only way to salvage it is for them to recognize the fact that people's tastes are changing. That's Yang young people today are really about it and there are about athleticism. And their about comfort and they're not about trying to fit a single ideal. Is there a way it in obviously they're getting rid of their CEO so they're saying look what we're doing wasn't what they're acknowledging hey this isn't working anymore. I almost wonder if there's just too much legacy to that Victoria's Secret name I mean this is in name that's been around for. The close to a hundred years when it's all said and done I think it was back in the nineteen. I can remember exactly when it was but I think originally like the parent company goes back late and a fifty years I'm sorry. About fifty years you know so I look at this night I just I wonder if there's too much legacy there and if they can't just break away from that thought and that image kinda lake. You know for the longest time and at this isn't quite the same comparison. You didn't have young people buying gilts because they viewed as their parents' car they viewed it as you know something that was not what they were looking for. Buick trying to change that but they're not really succeeding at just I wonder if Victoria's secrets can see the same. Problem well you know I think that you ask a really a question just because it's it's almost like this tsunami has hit now Victoria's Secret is saying you know shipped or die or be too late but yeah is that they think it's more it's less about legacy as much as you know. Management in cats in times of the Haggans. Implemented changes enough overtime in order to meet the changing styles and demands. And it just clarify whose Victoria's Secret CEO Jan singer who resigned dot Elber and not feel brand correct OK very good. We're gonna take a break here but when we come back we're talking about what big point continues to fall and also a crackdown on companies. Using false may eat in America labels that is right after this break. The financial exchange. All of a brutal 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. If you're at or near retirement age legacy planning is something that you're going to want to be mindful of that goes without saying that we wanna leave our children in great shape for camp but gifting RSS beat at home or vacation property can create huge capital gains tax problem and the kids choose to sell the home Todd let's keep is an expert on elder law and taxation and he's been helping families like yours with their state planning needs for years let him help you do if you're beginning to think about legacy claiming for your family. Call for drugs brand new guide to discs or not to gift at 8668485699. Gifting assets to our children has special meaning of the children have creditor issues org go through divorce problems can arise the could be disastrous. Protect yourself and your family by getting this free guide to gifts or not to give you worked a lifetime accumulating wealth now you should spend a few hours to make sure it stays in your family the right way call 8668485699. That's 8668485699. Or download the guide right now from our website legal exchange showed dot com. Hi this is Barry Armstrong and I've been doing business with leader bank for many years it's not too late to get a great rate on home mortgage meter bank specializes in a wide variety of purchase and refinance loans at 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 we're bank is the number one purchase -- among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who are ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. That's 8776917900. And get your great rate on home mortgage call now and they'll mail you a free residential mortgage survival guide detailing the home buying process from pre approval to the closing 87769178900. Is the number to call or visit them online -- leader bank. Dot com member FDIC's equal housing lender MLS number four corner and to try zero subject to credit approval leader bank a step ahead 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 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 and 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 at its worst for free by calling 803934. Zeros or one 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. Terri suffered the securities America incorporated members in SIPC and advisory services are with the securities America advisors incorporated Barry Armstrong representative Armstrong advisory group the securities and our 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 that all kinds of trouble trying to get people who can come in and do capable. Qualified work I talked easy coming in their professional punctual and thorough and all the work that they do so if you need a reliable plumber. With fair competitive prices. 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 781862. 119 B that 781. 862. 1190. Or he can visit them online at easy combing MA dot com for more information Massa master license number 10183. Again the number is 781862119. No. Security suffered two securities America ain't member finreg SIPC and advisory services arbiters securities America advisors think Gary Armstrong representatives Armstrong advisory group in the securities America companies are unaffiliated. The markets are still lol lol yeah. Get our weekly monthly recap about becoming a member of berries brigades music financial exchange showed Don coming sign up today. You have one of the new on demand a halt water heaters in your home did you know that according to the manufacturer's instructions. You must have professionally cleaned annually. Let easy plumbing help protect your investment they can even provide you the quote over the phone. Just call for an appointment at 781862. 1190. Or visit them online easy plumbing and made dot com. Easy combing we can fix mass master license number 10183. Talk a little bit about big point Christine you you loaded up on the big court and loaded up and now I know I think it followed a fascination for share it is. The last couple weeks have not been particularly good the last 24 hours have seen a further 15% decline but it points gone from about 6500 bucks per. Point or point down to 4200 and spend the couple weeks now and it's. It's like you just don't know how bad can get is no one really needs it it's not is not necessary to anything in life. Yeah I mean have you have growing group of I'd say you know younger investors are starting to. To look at digital currency as a as a way investing. But it's not I think one of the things that spooking people is the fact that you know the SEC is starting to leverage enforcement's. Against some Canadian currency project and this is not against decline let's just be clear about that that there have been other cryptic currency projects. That have come out of course and and enforcement against them for things like not registering partly as a security. On this spooked the market because. Yet there's a lot of. A peek at this rate now around how regulators not just the SEC but around the world. Are going to regulate and monitor on these you know crypto currencies and so the fact of the SEC is starting to make moves against them. Is spooking the market a little bit because they're kind of wondering where regulators are gonna shake out. Well in specifically what a lot of regulators are looking at right now on this is on that we touched on about a year ago. At first there is another crypto currency that's out there called tether. And tether is a crypto currency. That is supposedly based on US dollars and it's it's supposedly backed by US dollars it's supposed to maintain a stable value of one dollar and the reason it's important is that a lot of crypto currency. Exchanges. Use tether as a means to provide liquidity rather than actual dollars. Where this kind of has gotten all kinds of messed up is that. Heather has never actually disclosed. Any kind of certified accountant that they actually have the dollars they say they do. And so the issue. Is that if they don't have the dollars they're supposed to. Then these crypto currencies that are these these exchanges that are using it are really backed by anything giving example. About a week ago tether announced they had a banking relationship with the bank in the Bahamas. They released a letter from. Saying that they had one point eight billing and deposit with the bank. The letter was just two paragraphs long it was signed with a square eagle with out any author's name on the letters so it's like. Bit there's something weird going on at. I don't know what is but if forms the backing of a lot of really that the crypto currency. I guess ecosystem if you wanna call that. And so watch out on this because anytime you have the SEC poking around these are people who know how to deal with. Financial wrongdoing. It's not necessarily. He good place for you to be if the SEC. Is poking around it should just be careful on this stuff. And as you go forward here. Let's actually take a quick look at markets as we head towards the top of the hour. It has been a bumpy ride so far to date Dow Jones right now off 413. Points the S&P is off 32. NASDAQ actually make it. A little bit of a rally tech shares not down quite as much as earlier NASDAQ went off 64 points. Oil at the moment continues. To really show some signs of weakness down 5% to 5432. And watch out of world gets into the forties especially the low forties Africa's. That's the kind of thing that could potentially cause. Need significant dip in investment in the US and that's something that would add further slowing. To what we see in US growth at this point gold at the moment down a dollar forty announced. Tenure US treasury at 305 about where it has been recently. So this market continues to be in sell off mode at this point debt right now down in depending on the index between one and one and a half percent. And and fortunately. Relation to many signs of life at the moment in a short week heading into the Thanksgiving holiday. So all the time we have for the day unfortunately Christine thank you come and and we really happened here thank you so much are really into it will be back tomorrow with more on the financial exchanges radio network.