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Full Show 1-18-19

Jan 18, 2019|

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This is the financial exchange with the very Armstrong and sharks are down. You're exclusive look at business and financial news affecting your day your 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. Happy Friday everybody we've got a snowstorm bearing down on us got a long weekend coming up and one of the thicker stacks of news and I've seen in a long time we've got to news on the China trade deal. More interesting impacts of the government shut down and lots of us cover Mike Armstrong. Chuck Zahn and Tucker still with you today. And chuck there is some pretty late in the day news about the China trade talks coming out from really Treasury Secretary Steven new action. Which has was almost immediately want to back by the White House where where are we on you know potential for some tariffs should be lifted here. Yep what we saw yesterday this according to a report out of the Wall Street Journal. Was that Treasury Secretary Steve minutia and in a series of meetings has proposed. Potentially lifting. Some of the tariffs on China. As a show of good faith in these negotiations. Was quickly walked back at walked back as you mentioned. By the White House most notably Robert life size of the US trade representative. Who in recent days and said hey we have been able to make meaningful progress on the big issues that we're squaring away some of the smaller ones. So I think what what I take away from this. Look we we know how markets react to immediately afterwards markets went up about 200 more pictured at this morning markets continued to rally at the outset about 150 after an overnight rally. Not in Asian markets and Zetterberg are all just based on these single comments from signature and it's he really anything else out there in terms of earnings or anything else that's moving these markets up ports now mean if if you look at like the big earnings stories that we've gotten overnight. Netflix. Didn't do quite as well as people expected so there about flat right now and then just another store we gonna be touched on a little bit Tesla cutting 7% of its workforce citing a very competitive environment so. Near the biggest stories that we've seen out there. Are really having a positive impact on the market as far as individual companies. It does appear that you know it's it it's rare for me to come out and say oh we this is the one thing that you know was moving markets here. Hate it we saw right after this announcement right after this article appeared in the journal so it's. I think that the big. Question that I have and not be questioned even that the thing that. I I find with these talks is that there's so opaque at this point we don't know really what's going on inside of them and it's out negotiations should be conducted in. But I think that the bigs being. When it comes to these negotiations is investors are going to I think overreact in both directions picked. Based on any data point that comes out so you know it's the XT mission says that you know we might be you loosening. You know tariffs that means things must be going well on the next week it'll be something along the lines of we'll Robert light has a said the word though when he started his sentence and so because of that we need to sell lake. That's kind of where we're at right now but we don't know anything more than we did yesterday. Yeah I really hope we don't loosen up you just from maybe you know personal negotiation standpoint of our looking at this I really hope we don't right now those tariffs on them in the mean time of trade talks I mean that's that's just been China's ammo time after time is okay get them to loosen up a little bit and then we'll make a bunch of promises in them never follow through on them so I had I get really conservative we talk abouts in something like hey. We're gonna lose in these things up for a few months until we get something worked out here because that's all that happened it. It in I'm with you because in look I'm someone who win when we recently saw these tariffs discussed and then imposed. I said look I don't think this is the best neo best way to go about this. But now that your in the heat of it you don't incur all this pain for no reason if you're going to start going down this road. Man buckle up bared down and let's get something done that's meaningful if if you're gonna suffered the pain. Associated with. Trade conflicts. You're darn well you know get something at the end of the day so that's that's kind of where where I tend to stand so. I last markets moving up because yet markets moving up maybe on the expectation that this indicates some progress is being made. On the the shut down that is now in its I believe 28 day if my math is right in it usually is so I'm gonna trust that it is on the 28 day of this shut down. Some stories that I think are flopped in noise regarding at some that I think are are real problems. Let's start with what annoys. Politicians are concerned about the government shutdowns impact on Super Bowl. 53 this is a story from Sports Illustrated. This is. Pretty much hot noise in in in my book they're not going to have problems with security. At the soup but this will I think it's more so the people wait in line there. It's all tied together yeah. I get that like it might be uncomfortable you know you might have a longer delays and things like that but you know that there were people saying only we're concerned from a security course. You security plans were made months ago you know like no one is planning for Super Bowl security right now you might be hashing out final details. But you don't plan security for the biggest sporting event in the world in two week. Stu reached a for the event and now I have this is largely a fluff story. The travel story is legitimate but you know that same travel stories as for just general air travel anywhere in the country I mean now anyway. And I just I just think of all the people flying in for the soup rule not only just stands. But you have. A ton of media flying in and they have. A ton of equipment to bring him with them. So I just I just wonder how much a matter of fact that's gonna have a insecurity in TSA. It's. They already had two I think was last weekend. They shot eight terminal down because they didn't have enough TSA agents to work that terminal now. If you've ever flown through Atlanta. Shutting down one terminal. Doesn't dual whole lot they've got I think it's like a 140 deets it's the most is the busiest airport in America right so saying hey we've got one terminal shut down. If if if you were doing that in Manchester, New Hampshire where there is one terminal okay. Big problem. In Atlanta it's not good but it simply isn't inconvenience rather than. Grinding to a halt what I do start to get concerned about. And this is according to know what what what the TSA is saying they're seeing higher rates of absences. But 50% higher than last year at this point. And also. A number of their workers are starting to actually go in and take other full time jobs just because they need to make ends meet and it's not something where they're saying oh I need to get you know part time jobs supplement their sand. It's it's a good economy right now when we go get a full time job because I don't know when I'm gonna get paid again if I stay here. Right and and it can't blame them you know paid such a good job market right now that why would you sit around just not getting paid to the united Welty something else. Not to mention if you showed these people that are you know working but not getting pay or not working at all. I think they can all apply for unemployment insurance. Pretty sure they're allowed to apply for the does have the paid back once once they get back pay that's right one of the requirements of applying for unemployment insurance yet to be looking for a job. How strange is that. There you are employed by the federal government but just approved the federal government that you looking for another job. It is it is created some of these very ironic situations like that you know you have just and that the thing that you have to remember. The workers the TSA workers they are not allowed to strike. Based on how the based on how did their bargaining is gone with the government that they are not allowed to strike and so. In theory of if workers decided in massive they they wanted to strike. The president would have the authority to fire at him and been so. It's you know you what you're seeing instead their hate you know just more absences. Either because people are trying to do some part time stuff just to supplementing come at this point. Or just near Kennedy is a statement handle working without pay any longer. I TSA agent my idea would be no strike a slowdown. Cast I passed people through very very desolate let me just flipped to the right age on this passport. And look at that number Warren it's like the slower it's like the slots at the RV yeah. That's I mean you'd probably still have the possibility of getting fired in that position so I'm not sure it's really good solution but. It would grind everything to a halt. We also then have another issue for some of these furloughed workers which is when they're not earning income. They might not be able to make payments on credit cards and things like that with a credit cards mortgages. Car loans things like that. And so it potentially. Could end up creating some damage to their credit scores which beyond just the damage it might do from pure financial perspective. In some parts of the government if your credit score ends up going down to a certain level. And you're at the point in your career where you have to have your credit re checked because they initially check is part of your background and I think it's every five to ten years they do as well. They've what happens if you can fail a background check because your credits dipped because you weren't able to make payment because. Yet to help people understand this I mean there's a lot of areas the government where. They wanna make sure that their employees are financially secure so let's say you're federal prison guard for instance. You can't have bad credit because the assumption there the concern there is that you'll be more susceptible to bribes and that things like that you have a high security clearance and are subject to government secrets. Then they don't watch a bad credit because the assumption is that you know you could sell government secrets so. Yours you're being put into this position where you might not be able to pay your bills. Not only is that can harm you from buying a new car getting a mortgage down the road but you might in fact not be able to get a job or maintain your job that you were already in. Just. The impact of something going on this long are just pretty crazy now that's that usually doesn't really impact you until you're sixty to ninety days late on payment so. There's a little ways to go hear about it it could really compound itself sent. Well it it in look did did most people think at the start of this this was going to be the longest shot down in history. Don't that is so. Hey I don't know win this and slate. A joked about yesterday but given the joke I made was oh lake who knows of the shut down still plays in 20/20 however the I don't know like I didn't expect to go almost thirty days to this point so. Who knows how long this ends up going right now I I think it's it's unclear. Not exactly what the in game is because we're stuck in the game of chicken where no one wants to look back they're text Saturday. 63 simply says the marshals shut down as immoral last much longer hole now behold you know that. That we were forty I would I would what's another 28 days I would usually think so except for the fact that the administration is making this. Shut down not hurt as much as it could be heard. They've called that hire less workers to go file tax returns that's not supposed to happen in government shut down the only types of workers that are supposed to be. There are the ones that are needed to protect life and property. Gay so there's a there's actually a lawsuit going on our on the IRS workers say they're bring a lot of people back to make sure that this while it it really hurts for the government workers weren't getting paid on the general public the impact is a little bit muted here. All say is the same thing I said yesterday this is the kind of stuff that you typically see in Third World countries they can't get their act together. You have the biggest economy the most powerful country on earth and the government is shut down not because. They literally just because we can't agree on passing a budget this. Gates is it is Third World type. Crack. Let's take a break when we come back we're gonna dig into the proposal in Massachusetts. To legalize sports betting that is coming up right after this. Tony this very good charts graphs and numbers all day and just listen to us it's the financial exchange with Barry Armstrong and chunks of up on the financial exchange radio Ned. Come securities offered to securities America incorporated members in SN BC and advisory services a printer securities America advisors incorporated Barry Armstrong were presented at Armstrong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the voice of a professional familiar with the laws in your state. For those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed the New England according to Genworth the average yearly cost of a private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility and you haven't done your claiming that. It's time to call the experts at Cushing in Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do. Don't put up today would you might really need to do tomorrow. Call right now and get this free guided 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our web site legal exchange showed dot com. That's legal exchange showed dot com. Hi everybody it's bury our strong and I am joined today by executive vice president from leader 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. Yeah this is one of our most popular. Retail banking products buried so. It's it checking and savings compete look at and if you qualify. You get some great reward so for example you 2.0 5%. EP wise your savings account up 200000 dollars 100000. You get 1% cash back and all of your eases spending your debit card that's good. Eight at eight here reimbursements if you use in other things he Tia. And soda qualified by traveling in a Matta town there's not a leader bank branch nearby. I can use that ATM card number and be reimbursed the three dollars to order exactly. That instill the benefit of that is that really expands a breach network yeah he's in need yen. It doesn't have to be leader main core if you qualify it's pretty simple yet to have your direct deposit and the bank at least 12100 a month for you need to use. You use you count at least ten transactions a month incentive for statements oh. It's it's something that customers would do anyways. Right now rightly gets great benefits. And yet two point 05% annual percentage yield on your savings try finding that in another bank leader bank offers it. It's called Zuma rewards account paying two point 05% annual percentage yield on bounces up to a 100000 dollars. To learn more call leader bank at 8776917900. Or visit them online leader bank dot com. It's called Zuma rewards account CU GMA. 8776917900. Securities offered to securities America each member senator SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated we have part of the financial exchange in an instant. By texting us and 63566. Start your extra keyword Barry and become a member of our brand new textbooks tell us what you think 24 sevenths right here on the financial exchange radio network. Doesn't big news from the baker administration in Massachusetts. Charlie Baker the governor. Making a proposal to legalize sports betting in the state of Massachusetts. I think importantly not just limiting this. Two casinos with existing licenses but also potentially allowing other companies. To set up legal sports. Looks at the tension that be the first eight in the country to allow that we don't have to have this relationship with the casinos so that be a pretty ancient way of doing and obviously huge for but I mean Boston based drafting this it's probably a signal to draft I think so I mean there's their big employers here start up here in Boston. It's. Do you think it goes through me I don't really see a reason why masters is a do passes let us and ask candidates why the hell would they pass this guy casinos are to get behind him right spoken to Massachusetts. In this just setting up for. The encore. The course up like take three years to implement but yeah I think papers so. This is you know again going to be really interesting to watch you're just because. You know in the span of BO effectively a year than when we talk about these casinos opening up. You've gone from having really not much the casino presence in Massachusetts also I got her own plane arranged for to now be you know having give us some major casinos and sports betting legalized. From what it would be curious to see is if any of the teams in particular tried to get Ian. To this business as well just for you know I could see. You know what TD garden app where you gamble on the app are on. I I wanted to. If our betting man I would bet on. Interesting when it comes to betting. Yes I mean it it's just I could totally serious sports book opening up. At the TV TD garden for example a polite and it doesn't just have to be MGM Springfield are. Or young core and everything that you could be another sports book opens up altogether what what better way to get people in the patriot place on a regular basis that a sports book operating rate in the I think it's a no brainer and I think it's coming in the next. Two years. So this does bring us to our poll question of the day it's up right now on financial exchange show dot com. Will participate in sports betting if it becomes legal team you work state. Again head over to financial exchange show dot com and vote there a rarity do have some of these number of votes that it now in tallied here what kind of results are we seeing so far Tucker. Yes so par 71%. Of our listeners. Said Knoll there would not participate. In sports betting if it did become legal in there are given states that seemed to really high to me so. Assistant holier Tucker would you do huh. Like you're standing right now I mean I'd I knew I was sportsmen and you wouldn't know the only thing so I did not for the Super Bowl he wouldn't doubt on the suitable one Betty year note the only stuff that I actually does so the only gambling ID one sports okay in again maybe this is a distinction. It would become a dual March Madness pool. That's gambling pact but all I'm saying is like I do that pretty much in the office guy. AA and that's the lake right. I don't so the office pools stuff yeah I don't like actually gambling on sports because I find that I heat sports that San find it hard to believe that I mean are. Because like you're so ended numbers like that and I don't I think what you'll be work right I've got a stroke that's a good point you don't want to be stressed out pretty much watching soprano like I get enough numbers and having to worry about probability during my normal day of work. I just I don't wanna go home on the week as a U one is Ames thing you just want you skate. I Duca and economically disadvantaged Americans sports at a time ago lose in five different sports. Now yeah I mean it's very easy to lose money. It's assembly of gambling is go to casinos get a free drink like yeah yeah I'm just real quick I know we've we've been especially bear is beginning. Rhode Island a ton of crap for Rhode Island or any other state not legalizing. Recreational Candace. Round was one of the first states to legalize sports thing and they're seeing Reeves of people driving down a Rhode Island for that though gotta give some credit where it's do you know. Yep some money. 97 gates is legal or not I'm gambling so there's that to shoot someone your aside right away no problem and if you're gonna gamble you're you're gonna find a way and so low keep updated on where that plane goes but. Estimates by the way you estimate accident taking money away from the book keys and expanding the government's mob today 35 million dollars in tax revenue is the estimate that the baker administration put forward in terms how much they can collect on this some good news for the city. Of Somerville. Who. Trauma drama but would that that's. Four letter word job. This small ones giving host problem on the opposite Mike. Puma is moving its headquarters to the new assembly wrote developments it's new it's been there for about in five or six years now. Obviously going to be moving 550 workers into a new segment 1213 Storey building go up there. They are and you can really just see the impact that new bounces had guests on the shoe industry in general and view locating to Boston. Why is Boston center of the I don't you know world we got he says not only that but I mean there's covers converse you've seen Reebok has been I've I knew there are yet and I don't know if they moved in on. But even some mean Bostonians are faring fairly large dress shoe companies that is is headquartered here I think there's other dress shoe companies that are OK what's the Schuessel like we're we're not particularly stylish people. Now lake. I consistently free self. I'm speaking for you to tell ya mister Silva so I just I wonder what it is like. Boston if you were very utilitarian city. We Wear stuff because it works good balance rules. And new balance I think there's some history here and talk about let's take a break when we come back we've got Wall Street watch. Life goes on FaceBook and follow us on Twitter. Show breaking business news news hole. First right here on the financial exchange radio network. That's. Pay one price program on Saturday night's head of pats peak on Saturday nights for one low price from 3 PM to ten via reverse ski. Snowboarding do you think rentals lesson chips and entertainment that's because one of the largest nights in areas and all of northern New England fans want a New Hampshire most accessible learned to ski and snowboard mountains bring your family and your friends whatever your age or ability level you'll love pats peak. The latest info go to pats peak dot com that's pats peak got the job. Pats peak ski area and had record New Hampshire pets speaks upcoming interest premier ski and snowboard mound as all of its trails open for skiing and riding along with three trailer parks in the snow tubing park be sure to check out the cascade basin area on the backs out of the main mobbed -- information on conditions videos and events go to pats peak. Dot com for those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed a New England according to Genworth the average yearly cost of a private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility then you haven't done your claiming that. It's time to call the experts at Cushing in Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do don't put us today would you might really need to do tomorrow. All right now get this free guided 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our website legal exchange showed dot com. That's legal exchange showed dot com. 2018 sought a market reached new highs but they were short lived in the year ended with a thud as far as investors are concerned record growth in the stock market may be a fleeting thought as we head into Tony nineteenth so it's incumbent upon you to review your portfolio and your investment strategy Titus is very Armstrong and I can help I've got a brand new guide out this month that will review the ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so called right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. Come securities offered to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong were presented with a strong advisory group in the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. If you're real estate property management company you need -- banking partner that has all the right tools to keep your operation efficient leader bank is one of these premier banks in the property management and real estate space offering a suite of unique products and cash management services helping collect rent managed Condo association payments and digitize paper checks hi this is chuck is not a leader bank utilizing state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners in its innovative -- rent payment platform leader bank has a team of business bankers that are on call help you know come to your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank is they're banking partner call 8776917900. Or email BBO leader bank dot com for more information member FDIC equal housing wonder. In medieval times a sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. Tony team was a rocky year for stocks between nineteen be the same better. Worse the Armstrong advisory group has a new guide of this month called 2019 a look ahead in if you learn about what may in the market so turbulent and whether or not it can stay there get your free copy by calling 803934001. Or downloaded right now Armstrong advisory dot com securities are pretty securities America incorporated member finreg SAP C and advisory services are produced today's America advisors incorporated Barry Armstrong were presented at Armstrong advisory group in the securities America companies are unaffiliated. Time now for mostly watch a look at the market's performance so far today I don't Berrian chug right here on the financial exchange radio network. Time now for Wall Street watch brought to you by a leader bank if you are in need of purchase and refinance loan with the bank has some of the most competitive. Rates in new wing and a dedicated loan officer will work with the every step of the way. In their local decision making means of master closing call right now for more information 8776917900. Or is the monoline we'd bank dot com member FDIC. Mike could start first with Villa who are they what are they what's what's going out the stock today. Paso VF operates about thirty different apparel brands and ones you would know would be North Face out fans' shoes Timbaland. They reported earnings that really the beat by a pretty significant amount they became known as adjusted earnings of about 31 a share which beat by 21 cents revenue beat forecasts. They raise their full year outlook specifically citing North Face and vans there two big reasons for. I've continued growth stock is up about 11%. Analysts news you know were VF is based out of. North Carolina Greensboro, North Carolina they're moving to what Denver though because the knew that all of these outdoor brands they have snow makes sense they're going to be moving their headquarters with it either later this year early next year CBS what's going on with them why are they up about two and a half percent. So CVS has been you know I'll lawsuit with wal mart's over. Whether or not they're going to be the pharmacy for but I benefit network for Wal-Mart. They have kind of conclusion that yeah added Wal-Mart is going to keep CDS. You know waited initially anticipated that wasn't going to work there's a whole big dispute over pricing. Bait but based analyst good news for CBS stock is up two and a half percent and Wal-Mart. Is also up about half percent said not really take you know action on them. And that is Wall Street watch presented by leader bank call now for great raid on a purchase or refinance loan at 877691. 7900. Where you can also visit the monoline leader bank dot com member FDIC. So you on moss got in an emailed suit Tesla employees yesterday. Announces that they are cutting about 7% of their workforce. And mosque says he sees quote aid very difficult road ahead stock is down over 8% on that news. What do you take out of this much. I take that they're not charge enough for their cars. Yes I had also that they have to charge less. Interest to you like his argument that he lays out is pay were barely profitable now but in order to actually make the sales we need to make. We need to start last. Yeah I mean is that there's a few things going on here one. They are just not operating efficiency level that is allowing them to sell their cars the general public and profitable. And so there that's you know issue number one. Yeah they broke you know they had us very small profit in Q3 even smaller apparently in Q4. I didn't seem to me this just insinuate that there are I think big remaining serious doubts about this company's viability go forward. I think they have another big capital raise coming I know you one's denied it that they have to here's why so. There at the cheapest model they sell Renault the model three cheapest version of it that they are selling these 44000 dollars. Right that's the cheapest one candidates like base without any time they had all these reservations for lake 400000 pos. Most of those people were sold on the promise of the mile three being a 35000 dollar vehicle. I don't think they have sales numb and I don't think they can hit sales numbers that they need to. At this price range and so in order for them to be able to effectively subsidize lower cost vehicles. They're gonna have to do capital race and so whether it's debt which I think is gonna be challenged now it is and it's already heavily leopard company. Or equity. I think there's something coming and that's part of the reason why this stock is selling off today it's not because they're cutting workforce think about it normally. Company announces they're cutting workforce stock goes up it's. I think it when you read between the lines it's pay we need to sell vehicles at a loss in the short term. And the only way to do that is my goal back capital markets you think that helps long term. This is why I questioned Tesla as a long term going concern and I don't know if they have the ability to get there and here's the other question now. I don't know if there's 400000 people a year who want to buy a model three there like what if you ramp up and you're doing 101000 vehicles a week which is what they wanna do. And then you'll only need halfback pass the afterwards like there's no sedan in America right now that sells 400000 a year. Which I think is increasingly. Likely given all of the new competition in the electric will be in the electric vehicle market. I think Tesla did a whole bunch of very expensive research and development that every other company is going to not steal because we're talking about intellectual property left. But just look at leverage to make some tweaks knock off and then trying to go on their own it you would think if you look at you know. Big competitors Ford G am those companies have. Really really big. Historical issues whether it be big pension plans you big union relationships desolate and have to deal with any you know they started from ground zero. They didn't have to deal with the unions and as a unit but there. Yet seemingly still having big big operations problems here. Part of me wonders if the model three. Is just an overall miscalculation by months. In nets. It's the wrong car at the wrong time in what I mean by that. Tesla has. Well I think we can all agree that hassles get a really strong luxury Brent. They've B Blake yeah when when you talk about you know luxury brands to eat you say the name test some people say. Yup it's it's a high powered car it's well put together well maybe not always well put together. It's you know it's it's a car that that does some really amazing things. And I wonder if they just could've said he looked instead of trying to be the car for the Everyman. Maybe not do that until they can get the cost structure under control like I just wonder if trying to push too far. Where it was too much them. Hi because there aren't they getting rid of their SUV brand which to me. Lex yeah I think they're discontinuing some of the some of the model expressed alarm I think they were maybe just getting rid of colors. Parent. Anyway I think there I had to leave. That they are getting a slowing to get through this cheapest version of the model which I mean OK but. You need to be addressed in the SUV demand that we have right now. There's no real demand for Saddam's. What is it in that's another part of kind of wrong car at the wrong time it's it's look. You've port all this money into building eat cheap not not cheap but a relatively affordable electric sedan. At a time when no one is buying sedans in the raffle numbers so I think there's some real questions there for this company. To be honest I hope that they can answer them because I think that I like companies that do try to innovate and push things forward but. The reality of those kinds of companies is a lot of them do tend to fail at some point just because it doesn't always work and I think this is can Al ghost. Netflix. Coming in with earnings last night. And the stock was down about 3% in after hours. It initially leveled off this morning and now down about three and a half percent. What what were investors looking now on this one. Can't think of any company that can producer report like this through the stock would trade down buys around. Revenue to be big news here was that the subscribers were up 34% from a year in added eight point eight million subscribers revenue grew 27%. And fourth quarter profit fell. From 1869230. Form and so the big news here is that revenue was not growing quite as fast. It's most people were expecting a profit definitely felt pretty substantially. When you look at Netflix the you know obviously the big thing that's important to them. In terms of being able to maintain their share price is is that growth you know that's that is their currency at this point is how quickly canyon road. Obviously they've what was it talker was this week when they announced there raising prices yeah it was Wednesday. And in their ball and about on Tuesday all the different tiers on Wednesday whatever day it once this week. They're open him up on all the different tiers so yeah even the lowest priced eat dollar ones going up my plan right subsidized my parents is going up. All the different plans are moving up and Christ and I think. Part of it now kind of looking at what we what we see here is. I think they know that their growth isn't going to be able to keep up and so they have to be able to turn to a pricing story at I think they have to because. There's only so many Netflix account to go or league is always so we people who can get an Netflix account are. You know it's again my parents are getting their own because they use mine. Okay Mike who's Netflix Kennedy's. I don't using Netflix account Tug and only person in the world I am I don't know who else uses it. Many people exactly my aunt my money exactly. Some yeah I mean the only thing that the decorated oh lead to increasing subscriber numbers going forward as. If they Kamal the technology. Where they limit the amount of people per count so they will be might in moss would then be forced to get their own account for their own device. It I think tech came out to see yes the other thing that kind of threw for a bit of loop here and know that Netflix pike doesn't. Have that hive and effective tax rate anyway but. Their profits declined year over year in a year where most people expect corporations receiving a lot of money on taxes. What do you take from that is actually interest and had even picked up on that what you take away from the fact that they view. Video games as bigger competitors than other TV services. I think mission to double. An international ground know it this is where I was going so most video games now if you look at how their delivered a new console and things like that can either. Most people are downloading yet it's a lot of downloads on. Their playstations or other X boxes and my thoughts immediately went to some kind of cross over here yeah in some way cheaper for. I feel like licensing some maybe license and the older games you can rent out on what Joseph I went I I wonder if Netflix becomes a way that you can get video yeah I I've said this for years that the Netflix of video games needs to exist because it will be wildly popular what it does what what you're saying they say it does steam. Yeah but that's just like. It's not as popular I'm talking about like on a big console steam is just you know something nerds. Play on and on their PCs or whatever that. It's it's not a big enough audience of welcome to what are you what are you telling at least are you saying that Netflix should start creating video games yourself that they should partner with a video game creator to offered on their platform. That at they're they know what they're good at what is that what's the benefits that video game company. In you've got to dish subscribers look at all these subscribers you. Look at all these people that you instantly have access to and now you're adding. You know an video games itself but there are wildly popular now I got in virtual reality it's you. You don't need it with the big Activision blizzards of the world they they don't have a need for this. But you look at how Netflix is gone after okay we're gonna start with you know some some smaller content and and try to build you know a whole new format that was really interesting things that they can do there if they start getting into video games I take them mentioning. Video games like Ford died and I say. That's where I think they're going. And people would pay for gamers would pay. Probably 1999 month for that answer is also beyond that we know how popular and again I don't understand I don't do right now but watching video games is. Now and then what accorded rebuilt in alternative Amazon's twitch through Netflix you can watch video games I'm Netflix I wouldn't do it but I'm telling you. That is where Arabia Amazon confidence going or maybe Amazon does its own thing with video games. That's another option to Varity owned to a search. Date and may sell video games on line yep and that's another up I wouldn't be surprised to see them go that route route to. As long as we're on the topic of streaming I do want to announced that is good news that Wal-Mart has abandoned their plans to. Or play video streaming service because very Smart no one knew what the heck would be on is trying to have terrible. As might be the best decision that Wal-Mart has made or will many years years. I never understood. My god is it that they had plans by the way to create original Wal-Mart video content. Advancers idol six the only original Wal-Mart video content that I want is searched for the pigs in blanket as like all the fights that happened Wal-Mart around Black Friday that's the only original Wal-Mart video content that. Christmas trees I am very glad that this guys seems to be going away at this point so let's take a break now when we come back a little bit more Wal-Mart news on grocery delivery and also seniors the company that wouldn't die. Does it send stuff to talk to close your portfolio. The financial exchange with Barry Armstrong -- jokes done well on the financial exchange radio network for those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed the New England according to Genworth the average yearly cost of a private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility and you haven't done your claiming that. It's time to call the experts at Cushing and Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do don't put up today would you might really need to do tomorrow. All right now get this free guided 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our web site legal exchange showed dot com. That's legal exchange showed dot com. 2018 sought a market reached new highs but they were short lived in the year ended with a thud. As far as investors are concerned record growth in the stock market may be a fleeting thought as we head into Tony nineteenth so it's incumbent upon you to review your portfolio and your investment strategy hi this is very Armstrong and I can help I've got a brand new guide out this month that will review the ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so call right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. Come securities offered to securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Hi this is chuck Zahn and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval closing it'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents I've owned a few homes and a whole lot about the home buying process but this guy really helped me reconnect on issues that are so important to the overall process co leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC equal housing lender MLS number 449250. Are subject to credit approval leader bank a step ahead. 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 homework to 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 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 who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. 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 equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. It's our daily poll question had financial exchange showed does John. Vote your conscience. There heard just vote. Go to financial exchange oh god come in castaway sir. Wal-Mart continues to make a push towards. Grocery delivery. A blog post that Wal-Mart put up yesterday. They say they're now working with four different companies including point pick up skipped cart axle higher and Rudy. In cities across four states to try to get groceries people's lungs question for the two of you have either of you heard of any of these four delivery company that I have not done it. Have not but they're saying that they want out online grocery delivery in 800 stores by the end of this year which I know sounds impressive but. Ballmer does operate over 6000 stores that states it's it's a relatively small percentage that TARP without. 12% yet 1213 so small piece but pay incremental progress for people who like grocery delivery people like me who like to browse and shop. Don't care. I am. And disappointment. Got Agha stress on this from. To me proves that Amazon is so many light years ahead of Wal-Mart in terms of delivery that being said have you seen any grocery delete delivery vehicles out there. I haven't I don't know famous and use of illegal crime I mean not prime a whole foods which unfortunately has 479 locations. Now that you should be able to see some vehicles out there I don't I don't deny that big question is whether Kroger beef market here yeah I I do think chrome is one name that does have to be talked about it because you can get whole foods deliberate now do you like Kenya so I and I made a few that in him. Two thirds of the country probably understand them seen vehicles. That's because they're generally delivered by individuals you wouldn't. Yeah it's not like gay that's not a good decision unmarked white man's name is the double why would you put like you know whole foods delivery on the side your man too expensive. Two point letters on a man and it whoever it was lines and you're kind of letters leverage and talk out of it and let us I thought about buying up and have these deliveries them all that much cheaper to just hire he made his there are the pressures. I do also think part of this is Amazon's continue to try to keep unions out and now those are subcontracted out of these new standardized and folks the calendar has turned in a new year is here after the way the market and 28 team might not want to look back. But in addition to reviewing what was he is also time to look ahead. I'd like to ask you also reflect on your financial well being and your investment strategy as we head into 2019. The markets are still volatile and many believe the economy is slowing and that were on the brink of a recession. Trade with China continues to be an issue so in nineteen whole difference. We've put together a brand new guy they'll help you look back on the rollercoaster year that just ended while also providing you with the guys to keep portfolio of strong and grow. It's called 2018 year in review and 2019 forecast you can get your free copy by calling 80393. 4001. That's 803934001. Or you can download it right now are strong advisory dot com. Securities offered to securities America incorporated members Jenrette 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 mentioned yesterday that Sears won the bankruptcy here and I'm sorry Eddie Lambert won the bankruptcy. Auctioned in war Sears of who it effectively offering to strip the company down to only about 400 stores they continue to operate. But a number of unsecured creditors. Apparently are looking to sue him and try to block this is a goes before a judge at the end of the month. Simply saying that he's effectively just been stripping capital out the whole time in the it don't anticipate him changing his behavior. Which are they wrong I mean yeah all he seemed the only thing that I think DSL losses stores open for the fact that. Why I think they own most of the realistic it's years leases yeah their collecting all rent payments that Sears estimates as to Macon and it just basically stripping out the compensation and strip and it profit. And it's probably going to end up right where it is today which is a bankruptcy. Two or three years from now where there's even last assets to sell for the creditors. This it's it's just amazing how long this is going to go on at this legged rat they would considers every data this week. I feel like we've covered like this I'm trying to think of any story that we've covered for a longer don't. Going to. The though the market basket store back to fifteen all he got out like that all summer yeah I mean work very well worthy of that so. Told time we have on this hour we're coming back with more after this break. It's not too late to get a great grade and whole 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 call lead 776917900. That's 8776917900. Or visit leader banks dot com member FDIC's equal housing lender and MLS number 449250. Subject to credit approval leader bank a step ahead. 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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 wonder among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. 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 87769178900. Is the number to call or visit them online at leader bank. Dot com member FDIC equal housing lender ML customer for Portland to try zero are subject to credit approval leader bank a step ahead. The money matters radio network WB MW 11:20 AM and W 275 CM at Boston the money matters radio network. Hi this is chuck and Mike from the financial exchange. As we start off 2019. I think it first makes sense Mike to look back a bit at 2018 and talk about some of the big themes that we saw. That move marked create a couple big dips to 10% dips over the course of the year. What caused the more key factors offensive. And it just have the ability to add more volatility into both the bond and stock market it definitely saw that 2008. Mike what are the big things this had an impact a particular in the second half of the years the trade conflict between the US and China how do you see that continuing. To affect markets as we move deeper and between nineteen. Yeah I mean huge huge issue for a second half eighteen that really added a lot of volatile markets then and certainly it's going to spill over 2009 team. When we look ahead here my personal views on it is I think that we probably get something on on the US China trade deal. Before the end of the year present don't think the president trump once you head into a reelection season with eight giant economic headwind. Looming over so that's my personal view but it's really tough to tell folks there. Is a lot to look at heading into the new year and so we did put together a brand new guide titled looking ahead to 2019. It's free to get an all you have to do is go to Armstrong advisory dot com once again the guide is titled looking ahead to 2019. It doesn't cost you anything to get it in you can download for free at Armstrong advisory dot com. Securities offered to securities America incorporated member finreg SIPC and advisory services are printer securities America advisors incorporated Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. In medieval times a sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield. The more you prepare for more triumphant. Used to living more life on the edge save up to 40% on lift tickets when you purchase an advance at Killington dot com. For those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed the New England. According to Genworth the average yearly cost of a private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility and you haven't done your claiming that. It's time to call the experts at Cushing in Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do don't put us today would you might really need to do tomorrow. 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In addition you'll receive a free information packet featuring a guide to Zuma businesses that number again is 8776917900. Or visit them online at leader bank dot com. In a deposit to opener annual percentage yield is ten dollars to 23% interest rate messrs. until late fees reduce earnings re subject to change without notice leader bank a step ahead member of the icy. And me. This is the financial exchange with Barry Armstrong and chunks of it. 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 Barry Armstrong and chuck son. So we're getting towards the close of another week of trading and the big items still dominating news right. Now government shut down continuing now into its 28 day and also US China trade talks. We have an update for you there is they seem to be continuing as well talks out of Mike Armstrong talked pursue over here and let's let's get first into the shut down. Any progress. Not that I can tell it seems to be actually getting worse at this point it does seem to be getting worse does the Pelosi. Back to work out seems to be getting escalating round India escalating so I don't see any. And insights I am bears brought up in addition point which the TSA workers if they really want you can probably stop this thing in a matter of minutes. But they can't strike in prison guards and probably could yup prison guards at the stuff showing up to work out pride in that. Is this kind of problem I think. Out of prison guards there will be paid federal prison guards are not getting I did not that in new crossed my mind that while that late if if you are a federal prison guard you are not being paid Bowman note you you'll get back pay. My dad doesn't help you you know pet food this week IRS workers. Iris workers are coming back on the job also not getting paid they'll. But if we want talk about any group of people that wanted us and this government shutdown iris workers you guys stop you know. Citizenry that's refunds so. Yeah game over that's that's pretty much it. We cover image or story that I wanna touch on again yeah that he would people's credits are sorry to be impacted here not quite yet you know if you're late on bills by 6090 days that's usually when credit scores start getting kicked. And there's an ancient story brought up that you know a lot of these federal workers because they have security clearances must keep a certain type of credit score. And if it drops below that certain level then not only you could they'd have issues going forward about buying a house or buying a car. But they might not be able to hold their federal job because their credit score would have dropped because the government shut down pretty pretty crazy stories going. So a whole bunch going on that shut down related also a couple stories one from yesterday one from today on US China trade negotiations the one from yesterday. Was that Steve minutia in ad floated the idea of lightening up on the tariffs as negotiations progress in Maine in an act of good faith. That was quickly shot down by other members of the White House negotiating team specifically Robert Lancaster. Today we see markets up almost about 1% now locked up to fifty the S&P up about. Thirty the NASDAQ up 82 at the moment. On reports that China has offered a way to. Reducing and eventually eliminate the trade imbalance between. The United States and China what they have offered this is according to CNBC. Not China has offered a six year increase in US imports. That would reduce the US deficit with China. To zero by 20/20 four. I sure hope. That that. It's seen the same way that I see that which that doesn't address any of the underlying issues that this whole trade talk should be about. It is it doesn't but let's let's analyze this first hurricane and am good note I'm gonna work under the assumption that would CNBC's reporting is true. And I'm also going to jump way forward and say hey let let let's assume that this deal gets hammered out in this is an and in I don't know what that will I don't know I have nothing to suggest that it will. But let's let's play out the string and say okay. How do you reduce a trade deficit there's two ways to do okay. Number with one country number one you can reduce imports from that country okay so with the US reduce imports from China number two okay. Is that China has to agree to import more goods from the United States now the US trade deficit with China today is about 300 billion dollars a year. Big chunk yup OK it is a huge chunk of change. So. If we look at this and say okay let's game this out. As any part of China's future do they want to reduce their exports to other countries. Yes there's no. They're home they're homemade and made in China 20/20 five they want to become a center for production for everything they want stuff made in China resource everything from China so. I don't think that we're necessarily going to see a major reduction in imports from China as a result of the sway gives you might see something around the edges may be near 203040 billion share. But it's not something where near China wants to meaningfully reduce the amount of goods it exports and it's just not would there be in the game for war. So that leaves us with the alternate option which is that Chinese going to buy a whole bunch more goods from the United States. It's more plausible. Well let's walk through how they do OK so if China's buying a whole bunch more goods from the United States. Number one we've got to be able to produce the post season. Had we do well. It's presumably a big chunk of it would be. Farmed goods so. We've got already these big relationships with Chinese on soybeans chicken you do those are some products that we can demanded that we can produce here in the United States in bulk. That the Chinese would want to import problems are also really really cheap. Well and in and this is where I'm going with that so if you're going to be adding a whole bunch of demand. From China in theory. And you're not able to meaningfully increase supply because what you eat you're not and a 160 billion dollars of export capacity over like it it just doesn't happen is not and do it that quickly. What second due to prices and so I think the important thing to take away from this is. If this is the route that they and the goal which look I'm not saying it will be I'm not saying it should be but I'm saying it's being talked about NASA you have to understand how it affects your portfolio. If you're increasing demand for all of these goods by saying hey we're gonna send all this stuff. Outside the country that previously we kept in the country. Price you better buckle up for higher inflation there. You better buckle up for that and it to give you you know an example of this one of the stories we talked about it was either yes there may be earlier this week was on. Scrap aluminum dealers in the US have been hit by a really low aluminum prices because. China had put tariffs on you know importing US. Aluminum scrap and so it used to be hate these aluminum dealers had all this inventory they could send to China and they had buyers for. When those buyers dried up prices went down in the US so if we're saying now that we send more of other stuff to China. You have to expect prices would go up and so. Again it's not the question to me as to you know is this going to happen or not I'm just laying out hey if it does. You better buckle up for higher prices on a lot of these things done. The the real issue with that I see here is if they go about it this way they are not cause they're not treating the illness here I don't know it's look this is an. The root cause of the problem is not that China imports more exports more than imports. The root causes you've got currencies you get it you know intellectual property stuff that that causes these actual. You know issues here China pegs it's currency to the US dollar otherwise it would have been a stronger currency at this point. In China is not is competitive for manufacturing standpoint so. These are the kinds of things that you want them talking on. This is look what would it help the US economy. It would probably help producers of these goods I don't know if it helps people not in these industries. Just because you deal with higher prices that. So if it's one of the dangers when we get into kind of micromanagement on trade in stuff as a year your effectively picking winners and losers and it's. You know that's that's the net result here so we'll keep in four markets are optimistic on this I'll tell you that much doubt was now up again 240 points almost 1%. S and p.'s up north of 1% NASDAQ up north of 1% to some markets are digging this. Again this resolution of these tensions would be a good thing I would love to see this just all behind us. It's just a matter pay as we start to see details. Emerging. We got to figure out what those impacts are going to be because if you're managing the portfolio for yourself or for someone else. You've got to be able to adapt to whatever common so just keep that in mind here. When we get into some of the real minutia the US and China are trying to figure out a plan to reopen the chicken trade isn't that good news. It is if you if you operate a chicken farm Sanderson Farms Pilgrim's Pride Tyson all these giant chicken manufactures lost access the Chinese market back in what was twice fifteen. I were a bunch Avian flew back to 2015 Chinese use that word is used to say we're not going to import Chinese American chicken anymore it was much more about. Trade issues and it was about their concerns about bird flu. But nonetheless that would be a massive massive market for these companies. So some potential good news there as well let's take a break when we come back and get away from trade talks it is. Enough of that to be completely honest we talk a little bit about the state of you talk. And how they're going through really impressed period of economic growth at the moment that's coming up right after this break. Short little tour. Everything business and finance page the financial exchange with Barry Armstrong and chunks of on the financial exchange radio network. For those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed the New England. According to Genworth the average yearly cost of a private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility and you haven't done your claiming that. It's time to call the experts at Cushing in Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do don't put us today would you might really need to do tomorrow. All right now get this free guided 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our web site legal exchange showed dot com. That's legal exchange showed dot com. 2018 sought a market reached new highs but they were short lived in the year ended with a thud as far as investors are concerned record growth in the stock market may be a fleeting thought as we head into Tony nineteenth so it's incumbent upon you to review your portfolio and your investment strategy hi this is very Armstrong and I can help I've got a brand new guide out this month that will review the ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so called right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. Com security suffer through securities America incorporated members and SIPC and advisory services offered to securities America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies are unaffiliated representatives of securities America do not offer legal or tax advice always seek the advice of a professional familiar with the laws in your state. Hi this is chuck Zahn and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval closing it'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents I've owned a few homes and a whole lot about the home buying process. But this guy and really helped me reconnect on issues that are so important to the overall process co leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank. Dot com member FDIC equal housing lender MLS number four corner and to try to zero subject your credit approval leader bank a step ahead 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 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 music faster closing we're bank is the number one purchase lender among banks in the state they have sixty loan officers throughout Massachusetts Connecticut and Florida who were ready to help you find the best solution for your mortgage needs at some of the best rates around call 8776917900. 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 equal housing lender MLS number 449250. Subject to credit approval leader bank a step ahead. The financial exchange. Is Cole a brutal England and also now in West Palm Beach, Florida. Check out our website at financial exchange showed Doug come and find the station closest to you. This is the financial exchange radio network. So I missed the real season our last segment in that we're out we're doing trivia right now. Trivia time here on the financial exchange trivia is brought to you by the Armstrong advisory group. With the market still volatile now's a great time to review your portfolio so call 80393. 4001. In setup your free no obligation consultation. Today that's 803934001. We trivia works we're gonna read question if you know the right answer you text is at 63566. In Texas once. Texas once with a range of detects multiple answers automatically disqualified for ever. For ever those little strong but president you call am forever and a victory puts a wherever great we're disqualifying people for a horror amber yeah. Good luck tracking now on our hands you can be trying to project doctor you're disqualified for the day if you put in multiple answers. But so if you have the right one and in this case it's June the twelfth correct answer. If you of the 123 Nancy get a fifty dollar gas cars to Texas at 63566. Of you know the right answer. We are doing trivia based on Martin Luther King because on this date 26 years ago. Martin Luther King Day was officially observed nationwide for the first time. Now Doctor King became the youngest ever recipient of the Nobel Peace Prize at what. Age text us at 63566. At what age. Did Doctor King become the youngest ever recipient of the Nobel Peace Prize will give the answer in our next segment. Mike is going on in Utah. I didn't realize that there is anything going on in Utah of its one of the fastest growing states in this country come. At one they've got a few I think tax laws that make a pretty attractive to located business there they've got a big full time student workforce. Maybe it's that they've him mormons are just put pop in at a time work kids and all the rest of us but I big population growth and a lot of companies consider relocating to you to. They are the fastest growing state in the country from 2010 to 28 teen followed by Texas Florida and Colorado. In that we have been Zoellick city now now so I've been there I want to go I went there was in a skiing in Utah 56 years ago maybe. And maybe there is something to be said for the whole Mormon don't drink don't do drugs you don't do things that are bad for you because ultimately it's a really clean city it's a really well laid out city. And I agree time there's actually believe it or not agree Marie's in and around that area how. What to meet with the intent ranked. You you can put what you mean you can't dwell on his so drank. I'm not Mormon I know all that exciting way to the top population mormons it's not like it's now what is the percentage of people are mormons there. Adam. You guys are talking you can you can handle the fifth but but so what you're seeing in Utah is. The population as you mention it's grown at an average rate of one point 9% a year for the last eight years which is more than triple the rest of the country's pace of point 6% down. And so. The the big thing their savior of this labor force. Companies wanna move Derek is cheaper higher you've got you know relatively low cost of living is well. And so did the state of Utah law has had some pretty economic growth that's been going on there. And I don't think it's unfair to say some that might be correlated to you know the fact you've got people moving in to the state is well before hand. That helps make it an attractive place for companies to do business. I said the State's economy expands an average of two point 8% compared the total US rate of 2.2 percent per year. It pretty substantial it brings you know need actual point the buried has consistently over and over witches. There's no way that the US can expect to expand their economy by 4% a year. Because we have almost flat population growth and let's get really good productivity right yeah it is not exist has not nonexistent the last decade Utah showing that you know in a localized level you can have strong economic growth but you need population and over and you're sealing the exact opposite effect in states like Connecticut. So as of demise. Due diligence here as of 2017. More accuracy hey let's take guesses before and yoga I'm guessing that. 34%. Of the state is made of mormons all right 43. 62 point eat those and Harry are Mormon. Doesn't want seventeen and this article does say it is declining oil war. Yeah evidence of its climb with him new population growth that that more people moving and that's that that's fascinating to big chunk yeah. Big chunk. Another one of our stories that simply won't go away. The Carlos going saga continues. To go on. In Japan at the moment Nissan and Mitsubishi both saying on Friday. That Carlos going received improper payments totaling eight point nine million dollars for me Netherlands and to the owned by the two companies. In this than in theory could be used to again re arrest him at another point in the future and charged him with something else. Nasty as question let's say you're working for a company been working there for a number years and that company accidentally page you an extra. 30% compensation one year. And then a year and a half later you get arrested and held and held in prison in Japan for thirty days because that seems fishy right. It it does like you you would imagine either a they might nicely ask you to hate you should pay that's great what you pay this back first. In beaten most likely especially if it's ten million dollars you prostate by the way you overpaid me by ten million dollars wreck you know it's it's not like he got an extra three cents. We're talking eight point nine million dollar which means either a he wasn't overpaid. Or B he was in no one cared until now because there's this whole battle it's going it's nothing makes sense that the story. If it doesn't you'll get through the context of a power struggle which. I was skeptical on to begin with but I have to say buyers' instincts were dead on with regards to this one. When he first one was he detain November 17 hole. Think that's been true for months now to survive and on rice and water. That's for a it's been two months. Would you guys like to try and guess at the five states with the lowest population growth from 2010 to 28 in population growth population grows or not. Los population but to those drop the lowest population of lowest rate of population growth from 2010 to twenty team. Yeah out of a ticket that takes up a take a swing at its lowest population growth although Connecticut. Are you tell me if any teaser right just after five analyst Mike and I Connecticut is an okay I'm gonna go Connecticut. Ohio. I was not in the worst five main. Did that it to. West Virginia Paulson on the worst dive. So majors do you view worst five year that's not very good West Virginia isn't there are not allowed to guess your program in Connecticut. Worry about that it. Over including Puerto Rico and near Puerto Rico is definitely in there Puerto Rico West Virginia Illinois Connecticut. And Vermont had the lowest five population grows to twenty and 28 teen. Mom and Eminem. Puerto Rico for a Virginia now Illinois Connecticut Connecticut and Vermont Puerto Rico and treatment accounts element through Rhode Island and there are one of yesterday's next Mississippi Maine Pennsylvania and new York and Michigan falls upon the Red Bull market mean you know and in there so. Myself so low and on the as a population growth. If you want tossed DC in there at the top of the list but it can consider that legitimacy Utah taxes Florida Colorado. North Dakota Nevada Arizona and Washington State. Quick look at markets at the moment the Dow was up 249. Points the S&P is up thirty the NASDAQ up 82 at the moment. Take a quick look at oil which is up 3%. Back up to 5372. With a moment for west Texas intermediate. Gold zone off down nine dollars and sixty cents an ounce at the moment. Tenured US treasury to two point 78. Watched that treasury numbers so if treasuries are selling often means that investors. Think either it is more inflation coming your be the economy's going to be getting a little bit better. But in this economy. You also have to take into account that when we saw rates start to creep up over the fall. That was something that really impacted the housing market. And so it is something that does bear watching their butt. We have the ten year treasury beat down around 26 just a couple weeks ago now we're back up to almost two aid at the moment 279 on scene. So we're seeing an awful lot of movement in bonds here and I do think. That's on this gonna continue again the big news today China apparently offering a six year import boosting trade talks with the US. We got to take a break but we back in a little bit with more on the let's move this story as he's waiting his decision from CBS. To withhold a 120 million dollars. The financial exchange is alive on FaceBook so make sure to like your page and watched the guys break down the latest on the market every day beginning at ten on the financial exchange radio network. For those of us with older parents the idea of having to move one of them to a nursing home can be a scary thought indeed the New England. According to Genworth the average yearly customer private room is almost 135000. Dollars that number is expected to be increased by 25%. By the year 20/20 eight think about paying over 180000. Dollars a year for your mom to be in a nursing home and how dramatically your financial situation would change under those circumstances. If a nursing home stays in near term possibility and you haven't done your claiming that. It's time to call the experts at Cushing in Dolan they've got a brand new guide of this month called planning for procrastinators. They've been helping families just like George for the past thirty years and they can help you do don't put us today would you might really need to do tomorrow. All right now get this free guided 8668485699. Protect your assets and your family call 866845699. For your free guide or you can download it right now and our website legal exchange showed dot com that's legal exchange showed dot com. In medieval times a sharp was often the difference between victory and defeat. For skiers and riders at Killington. The end point of pride and admiration. No matter your battlefield the more you prepare for more triumphant. Here's to living more life on the edge save up to 40% on lift tickets when you purchase an advance of Killington dot com. Hi this is chuck Zahn and I've been doing business with leader bank for many years if you're in the market for mortgage leader bank has some of the best rates around and if you call right now they'll make your process even easier by sending you a free copy of their residential mortgage survival guide in it you'll find critical information for pre approval closing it'll also help you with the required documentation the purchase and sale agreement as well as what to expect when dealing with agents I've owned a few homes and a whole lot about the home buying process. But this guy and really helped me reconnect on issues that are so important to the overall process cult leader bank today at 8776917900. And ask for their residential mortgage survival guide if you're looking for mortgage this will definitely help be the number again is 877. 6917900. Or visit them online at leader bank dot com member FDIC's equal housing lender MLS number four corner and two front zero subject credit approval leader bank a step ahead. It's 6 AM you don't meet your form. Doesn't matter my buddy knows the drill anyway because we do this every chance we get. Like cute Christmas he's going to be the window skis at the door hot cup of coffee in hand that you dream just in time for first tracks of January's dumped three feet of snow. It was quite open with over 360 acres free mountain peaks trees game six string parks and interest only super hot seat on the tickets at good and T and dot com slash tickets were by the flight 32 cart is W with ticket discounts all winter start saving up -- and NTN dot com bury our shores here and I'm joined by estate planning attorney Todd let's cue from the law firm of Cushing in dole and with York. Legal exchange quick tip of the day. We're talking about last minute planning techniques that can help you save your assets. Todd we've always talked about married couples in the past. What can be done to save the assets for widow or or single person. You know that's really important because we see that more and more today you know you've got people who have lost spouses are Baylor or like Satan and it never got merit planning is Steve Leven last minute planning works for them example let's say you have a house and you have some money and you get sick and you go in the nursing home. People are gonna say well I got to write the check. Now maybe not call right because what we would do is we would allow the house to be considered non accountable for users away for us to do that even when you're single and you're not living there so they wouldn't count. They might lean it but they won't count it. And then the money. Depending on your rage we can do one of two things we can either buy a Medicaid annuity for you which would stretch out the money over a long period of time allowing you to pay a Medicaid rate which is about six grand a month purses fifteen grand a month private pay so huge leverage there. Or if you if the Medicaid in order doesn't work out you can do something total pooled trust where you take assets and put it in such a special trust that allows you to get eligible for Medicaid. It may sound complicated but Cushing and dole has written a guide especially for those of you who have put off doing your planning and are now faced with a last minute nursing home situation request this brand new guide from Cushing and dole and by dialing. 8668485699. It's called planning for the procrastinate or. 8668485699. If you want to guide right now. Go to their website legal exchange show dot com that's legal exchange showed dot com or call them told free. At 8668485699. You might not be able to Tivo with all the latest business and finance news but we can fix the financial exchange with Barry Armstrong insurance auto all the financial exchange radio network. We get a trivia winner from our question dimly we sure did. The other question was Dr. Martin Luther King it became Martin's king junior. Became the youngest recipient of the Nobel Peace Prize at what age the answer was 35 he received on October 14 1964. It is 35 birthday. And whether it's their mind. Mary from Arlington had a great dancer and she's taking home a fifty dollar gas card. Tributes days brought to you by the Armstrong advisory group with the market still volatile now's a great time for review your portfolio call 803934001. And Centre free no obligation consultation today. Again 803934001. In a KG it is not still hold that title. Who exists. Oh yeah. Oh Wimbledon recently yep it's what's your name girl from Pakistan yeah. I'm a theater in what is your name. And. But others is so painful that I can't remember this I can't pronounce her name. I just can't remember it use. I'm nine gonna try it I couldn't do her pronunciation justice of the law Yousef Malone hours exact yeah that's it. Yet there we go OK so oldest. It's up to seventeen issues young while young. Gets up on this CBS story Les Moonves. Is challenging the company's decision from last month to deny him a 120. Million dollar severance package. I don't think this is entirely unexpected here. What that they're challenging and challenge again that he's challenging yeah well. I mean yeah they're gonna have a pretty tough time proving this out is being go oh it's not gonna go to court this is probably going to go to you like a arbitration arbitration settlement. And they're have to prove that he violated company policies breached his employment contract. And failed to the one that they might go to get him on as if he was legally required to cooperate with the investigation and refuse to do so. I would think that's the only one they might be able to you know prove out is you know and you didn't you didn't participate. So it in any case this is going to be an ongoing saga as CEO looks to collect this money. But not going down easily here and so he's going to be tying this up at least for the foreseeable future. With the whole bunch of lawyers make a whole bunch of money on both him and CBS. That way and CBS does he mean avenues that new CEO and chairman yet there are still searching this outs. Along gonna strike drags out is no good for CBS. If folks as we age long term care is something to make sure you plan for how quickly would your assets be depleted if you had to write checks to the tune of 141000. Dollars every month. According to Genworth the average cost of private room in nursing home in New England. It's just under 135000. Dollars per year than average cost is expected to increase to over 180000. By the year 20/20 eight. If you were a loved one or face an unexpected nursing home stay in you haven't done your planning yet. Before you write that check pick up the phone call the experts a cushion and awarded 866848. 5699. Michigan Dolan has been helping families just like yours protect their assets for more than thirty years and they put together brand new guide for this month. Called planning for procrastinators. In a coffee strategies that can help educate you on the steps you need to take to protect your assets and your family. Do not put off this call any longer get your free guide today by calling 866848. 5699. Again 8668485699. Or down on the got right now from our website. Legal exchange showed dot com. Microsoft pledging fun. 500 million dollars try to tackle the affordable housing crisis in Seattle what what what's going on here exact day you had a similar thing I guess it's not the exact same thing but I think cat Amazon pledged a few billion dollars to tackle homelessness and and similar pledged. Do what what's going on as California is pretty strongly considering a bunch of new taxes on tech companies. And I think a lot these companies are just worried that there's going to be a ripple effects to other areas and say California's approach saying well. Yeah use. Basically transformed. Our stage by bring in all these very high a highly compensated employees and mainly the San Francisco housing market is now one of the most affordable in the world. And so they're considering taxes on these companies to build more affordable housing which obviously. But I don't know about you but I personally. Very opposed to that wave. Well and in in what what I liked about what Microsoft is doing years and I'm not saying that they're doing this out of the goodness of their heart there may be they may not be I don't know her but what I like about this is. As you mention what when you have tech companies that pay high prices for talent that come in. It does price local residents out of those areas just a lot of cases residents who have been there before hand. And so what companies historically have done that said look that's not our problem. Well and in fact it is you what when when you do this though the term that gets tossed around in economics is it's an Baxter now it's an effect that you create it affects people outside. Of your company. I like the fact that whether they're doing it again I don't care to doing it because they want to her because they have to but Microsoft is saying look. We are going to when we already have to a certain extent created a housing problem in the city of Seattle yeah. Rather than making every one else pay for this. We're gonna try to solve some of and in that I like that they're doing that because it's it's taking responsibility for an issue that they created. And again some of this it looked it might be PR I guess it's PO there. I don't care as long as it's happening. Whatever like it is it still is good for the city in its good corporate citizenship and you don't see that enough from companies on a regular base. The big question I have is. Does this really do anything today that the problem with a lot of these cities it doesn't necessarily have to do with the you know not enough money being around for affordable housing it really has a lot to do with. Zoning laws and whether or not you can yup lobbied politicians to change the zoning laws to build more affordable housing. And none this is gonna do that most companies don't wanna get into that Paul political stuff. They have to today. Am I I think it's part of being a big company that pays people want today is you got to navigate that now you have to do and and companies that don't. Are gonna find they start losing that PR battle pretty quickly eaten. Story from the Wall Street Journal drug makers raising prices amid shortages and recalls what where is this happening Mike is there any anything in particular that stands out here. Rather if you were called out blood pressure medication I guess has been hit by a whole bunch of safety related recalls and and this is what it mainly has to do it is their finding. They really that make mistakes in terms of development and health issues. Are causing them to have to you know recalled the drugs test them again and they're leading to price increases across the board. A bigger some of these increases I mean this. Hell let's talk about one of them yeah muscle relaxant that's up 1137%. What's that one called. Advertisement and serve pharmaceuticals. Hand. How to pronounce that. Met her karma there quick look at that day so I guess the best way to tackle your Spears' hit them head on just like asked Jack. So yet that the person that drug up well 11100 in 37%. 205. Dollars was the single biggest price increased. For any prescription medications and that's not the norm that's that that's the Al wire there but it still shows kind of what you're seeing in that area. You're seeing you know other types of drugs. That are up anywhere from you know sixty to 300%. So you eat you've got you know. Problems in some cases just because companies just have not allocated resources the way they need to. And it thing to keep in mind with all this stuff is the single biggest Payer of all this is not you and me directly it's Medicare plans. So yeah you might be say no well you know. For mrs. Smith who's gonna have to pay for this. Well yeah kind of but really it's Medicare and now all of our Medicare taxes are likely to go up in the out years because of all of this you know really frankly mistakes and if inefficiencies at the pharmaceutical companies. Another story from the Wall Street Journal. Americans are drinking less alcohol. False hope for. Your your raid on an extra session yet. So what effectively week we saw data from last year that showed that US alcohol volumes dropped point 8% last year. Little bit steeper actually in the point 7% decline in 2017. Beer was the worst it volumes down one point 5%. But I think I'd be curious to see data and I don't know if it was in here and see it offhand. They're talking about volumes here I wonder Pryce has I had to same exact questions I think most Americans. They are consuming less volume of alcohol but I think they're going up market. That's my experience at least when I was in college okay. We used to be able to get in this was what we drank in college it is we are dumb and it was cheap we drank it was you could get a thirty pack of keystone light for 1099 down threat and an in that was great you know that last due an hour if you were the only college. Today okay an hour you sit there and you say gee I'm spending you know 25 dollars on a four pack and that last meal weekend. Yeah I mean now I'm drinking weigh less but spending more actually. I mean you're definitely seeing this trend of people on valuing quality over quantity in terms of Torrington and that's a bad thing auto either they we know heavy drinking. Is really good for you to begin with in fact pretty awful now. In beat the the higher quality stuff. It is explicitly gives it its better eyes off so what's the solution for these big mean what is the solution to these giant companies may setter here. It's that simple make better beer. No I mean my promise it find. Went the story of who was a pretty good beer I'm not sure that deal that interest and buys at the Molson Coors name attached. I went blue line and bought most growers as sort of around. Yeltsin says most importantly I don't embarrassed. Is that really something that I wanna be drinking. I mean it's definitely sounds and animates his calf suffering a little bit 'cause they get a little. Two Big Ten Sam's back on their game the last year I think other great I'm not knocking their. Quality of what's of 76 not to the part adults and semi six instrument does is obviously did whatever and their game yeah I think Sam 76 is late K we're back we're back I mean Israeli Constellation Brands has a strategy they're gonna try and you know make money on the canvas industry I don't know if that's work form I don't know what the real solution is here and yet trying go up market in the state. In in by the way. Overall. Alcohol consumption when you look at you just the alcohol that we consume not not all the other stuff that goes along with that and beer and so forced in 1980 the average American consumed ten point 34 leaders of alcohol. Today it's eight point 65 liters almost 20% less. Compared to a new camera drink and stronger stuff. Yeah I think it's stronger air quality so poor innocent to keep in mind this is measuring the actual alcohol. Has ten leaders like again that's got him that's like one beer ammonia Bernama cells so no wonder in the same breath of Yusuf canvases. On up. You know. Interest in dot myriad that's wired Beers on Donald or are. Alcohol and takes on down I don't know interest in thought. Let's take a break here when we come back Paula Monica from CNN business is gonna join us. Talk about Goldman Sachs is bouncing back this week we'll talk with Paul about where he thinks they're going right after this book and he showed in the financial exchange on FaceBook dot com slash the financial exchange this is the funding to exchange radio network. 2018 sought a market reached new highs but they were short lived in the year ended with a -- as far as investors are concerned record growth in the stock market may be a fleeting thought as we head into Tony nineteenth so it's incumbent upon you to review your portfolio and your investment strategy hi this is very Armstrong and I can help I've got a brand new guide out this month that will review the ups and downs of the past year while providing you with information and assistance that you'll need as you strive to maintain your assets and see them grow this year's economic forecast is cloudy at best so call right now you can get your free copy of my new guide at 803934001. That's 803934001. Or download it right now at Armstrong advisory dot. Com security suffered securities America incorporated member femur SIPC and advisory services officer securities America advisors incorporated Barry Armstrong represented a strong advisory group the securities America companies are on affiliated representatives of securities America do not offer legal or tax advice always seek the voice of a professional familiar with the laws in your state. Your dream home is within reach with a Jumbo mortgage a loan from leader bank the Jumbo loan program designed for financing in excess of 500000 dollars offers fixed or variable rates for both purchases and refinance us all originations are managed by leader bank's local underwriting and processing teams for additional cost information call 8776917900. That's 8776917900. Or visit leader bank dot com member FDIC equal housing lender and MLS number 44950. Subject current approval leader bank a step ahead. If you're real estate property management company you need to banking partner that has all the right tools to keep your operation efficiently a bank is one of these 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 -- digitized paper checks hi this is chuck is not a leader bank utilizing state of the art technology to offer convenient banking services to which real estate clients such as a CH payments mobile banking promote check scanners and its innovative -- rent payment platform leader bank has a team of business bankers that are on call to help you -- -- to your place of business to make it as easy as possible number to call your interest did is 8776917900. That's 8776917900. Find out why many of greater Boston's premier property management and real estate companies choose leader bank is they're banking partner call 8776917900. Or email BBO what a leader bank dot com for more information member FDIC equal housing -- The calendar has turned and a New -- here after the way the market ended in 2018 we may not want to look back but in addition to reviewing what was it's also time to look ahead hi this is bear strong and I'd like to ask you to also reflect on your financial well being and your investment strategy as we head into 2019 the markets are still volatile many believe the economy is slowing and were on the brink of a recession trade with China continues to be an issue so what does 2019 holds for us Everett a brand new guy they'll help you look back on the roller coaster year while providing you with guidance to keep your portfolio strong and growing it's called the 2018 your review and 2019 forecast and you can get your free copy by calling 803934001. That's 803934001. Or download it right now at Armstrong advisory dot com. Three suffered histories and are incorporated remember him as a PC advisory services officers attorneys are devices incorporated Terry or are represented a strong advisory group and secure America companies are unaffiliated opportunity to secure America do not offer legal or tax advice always he did voice and professionally with a loss in your state. This is a special announcement for all landlords chasing down lead rent payments and making trips to the bank to deposit checks take a hassle out of rent today with zero and leader banks all mine rent collection tool he went automatically deducts tenant's rent and deposited into your account visit WWW duds he ran dot net to learn more -- Z rent your payments for each unit received regularly on the same day every month tenants pay nothing in the first six months or free throw landlords visit WWW -- see rent dot meant to learn more or call 7816418691. Security suffered through securities America aimed at members finreg SIPC an advisory services arbiters securities America advisors think Gary Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. We wanna hear from. Thanks Steward Barry's 263566. And let us know what you think about the stories we discuss your team to the financial exchange radio network. As promised full Monica is here talk Goldman Sachs with those Paula good to have you on board today. We got a big weekend coming up here with pictures plans and OpenId is and how the giants look and. Yeah aspect now not. They're not playing. Los. The coaches I'm site at I occasionally had just have to rub it in but it's it it's nothing personal it's not you it's me really more than anything else. Period I am staring as we get mine. Super Bowl forty. Not using 46. I deserve that I believe the hasn't won that year came over on the planet it observes that one so. Banks that reported by the is apparently have lost the ability to read Roman numerals to. It includes hey I never had to try and less so about to become expelled the. Skewed so Paula store Goldman Sachs who they they really struggled. MDB scandal from Malaysia. But comes out with pretty good quarter actually in the stock just like most of the financial stocks rallied pretty strongly since. Late December there are up almost 30%. In the last twenty days. Yeah Goldman's move at the earnings were as so dramatically higher that you know the stock now the that topped out. Europe you know immediately to be kidding or at least eight to 2008. I think that you know what they prove to Wall Street in the east now with more Bentley. Yesterday at you know even bigger it to their bond trading upside equipment the first vacation yet. They are about treating but they also have all those investment bankers B keep archery. You know they are doing with regard to AA IPOs in the you know I think that. Recently Al. Mr. profit and you mentioned you know you know they don't wanna be be Utley scandal. Misty you know to Altman was very contrite and apologetic. You know now Goldman's role. In that in you know makes you wonder if that I. Attitude that we wouldn't gotten from you know Lloyd Blankfein you know mercy yeah. You know it's a kind they're giant Goldman Sachs. Paul I don't want to touch on David Solomon somewhat they're simply because he he's from their investment banking to visit he spent ten years leading that. And part of me is wondering who's you know in these earnings we did see a renewed focus there. Does that suggest any kind of strategic shift for them as a result of his experience that he brings to the table. I'm not assured that ship this much is just you know sort of a renewed focus on an area that. There had been some increasing. Competition companies like Morgan in the recently at a good job of you know bolstering their investment bank side and you know on Somalia. You know and the other you know consumer bank they've vulture operation like cheap imports in a city. And be a day at all. Bulking up as well I think you know what we. On the you know maybe just written you'd emphasis on investment banks aren't important. Now is to air. You know record profit co pilot. Gergen Paul bullets ghost we gotta get out just a little bit but thanks for joining us today and joy at the weekend hopefully. What's the what's the weather situation in me like for down your way. Yeah I think as rigid year and that potentially noted that you guys. Might be getting. Getting. You'll stay warm stay safe we'll catch up next year. Paul Monica from CNN business talk my Goldman Sachs ticker there is G asks by the way. The story that I want it to you to get to just because we we talked a little bit about apple trying to get warned health care over the last couple weeks. Johnson & Johnson actually going to be using the apple watch out for a heart health study so big pharma companies and hate we actually think there might be something useful here. Yeah I think it's pretty big I'm not sure why Johnson Johnson decided apples was the best way to go with it but my guess is just a it's already out there and proven technology and they don't need to. Find a whole study group to use years pretty pretty broad and probably also that you can actually convince people to Wear one of these things verses you know actual piece of pharmaceutical equipment went might feel a bit more difficult so. If this actually goes successfully it'll be very variances missy. How many other different studies are going to be used with these apple watches in what you know the implications might be for apple financially. Here's what the other big things that I took from this is that the first thing that those cookies Apple's giving all is dated to Johnson Johnson. One of the things that Jane is doing his part of this is they're not taking the data from every one. If you want to participate in this you're gonna have to sign a consent form and so if it continues. How many other companies would dissent of regulate we have all his data he won't sell out to someone. Whereas apple here is partnering with Jane Jada say look if you don't wanna participate in this you don't have to and I think that's because it's really different from what everyone else. Is doing out there and how this data showed enough FaceBook or Google. Now. As we head into the top of the hour just about done here the Dow was up to 77 S&P up 31 NASDAQ up 78 on trade optimism with China. We're done for the week. We'll see you next week enjoy the long weekends cope pats. Go practice.