Mar 28, 2012|
Suzanne O'Halloran gives us The First Look into the day's market.
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
Good morning and welcome to the financial exchange it is they Wednesday morning the 28 of march hooker -- having a great day. In June it seems like at 11 o'clock yesterday when we party company stock market was up we had a little bit of a rally going on and son of a -- Finished up the day the Dow finished down 43 points the NASDAQ was down two points in the S&P 500 was down three points yesterday -- not a big selloff but it. Does seem I've just noticed over the last several quarters. That the end of the quarter seems to be kind of a downer stocks tend to sell off during the last week of the quarter. I wonder if that's what we're experiencing. This in and of kind of curious to see that continue because I noticed this morning. You know are chatting before we came on the -- Divx is elevated yet the Vick says I'm a 133. To fifteen. Point 59 PM the guest it's still very well and that's an -- yet that's a low reading. It's not the -- have ever seen but it's a -- reading on the -- but. The volatility index is low power of the futures are in this morning -- up actually Dowell futures up seven that NASDAQ is up to. S&P 500 is flat at 1406. The penny here a two point tool flies pretty much flat. Gold it's down eight dollars thirty cents -- oil's trading down a dollar 22 -- you know we need is we need an interpreter yes we do we need. A New York City interpret. And her name is Suzanne a Holler and she's our financial correspondent from new York and zoos and welcome to the show I don't. Suzanne oh how -- hey there Suzanne. Hi sorry there I think there -- a little late punch and you through there are you doing today. I'm glad I got -- I -- and erecting an anarchic tactic today. Yeah -- futures are up a little bit but I'm I'm curious about the IAE did did durable goods orders. Who recently commented on the -- earlier fixes up 133 not a lot but it's still up a little bit durable goods order was pretty disappointing wasn't -- Well weaker than expected. A strip actually he said. It was better -- so let's call it an -- partly actual flu strains and people buying -- And here. The -- to look at and number eight appointment impeachment were higher before we got and number Eric. Probably at -- expecting it and acting a little bit of areas seeking out. -- ethnic bigotry are important a couple of things we -- and in the quarter. Had a great run here -- -- -- -- not usual order for it managers and we should have read Eric. -- -- at the -- and we are and I. It's thing TX. XQ it it also. Let me -- as a major cheered. I'm not seeking a little higher at sixteen. Eight years ago. It was 48. Day European debt crate and so. Here at come lead out and market and that is generally see as they get. So we come back to the at the end of the quarter is this something that investors can take advantage of do we see it funds and hedge funds sell off a little bit to. Lock in some profits during the last week of the quarter and give the individual an investor an opportunity to get back in if they haven't been invested. Well I can't hear me and -- brother actually -- it a couple of parties that typically -- Portfolio managers without the -- and attacking rebel against their portfolios they'll be -- Actually it's. Actually try to be able kick in terms that stocks or bonds or other -- so -- there could be some voluntary as -- round -- where. We've seen it before an application for April are generally pretty -- he's -- According to and it report marchers stopped and communicate via. A little bit all three. Suzanne AA got a text question here from 508 year old stomping grounds are they wanted to know why gasoline prices are so high because an I I wanna note too I mean there's no. Shortage of supply. There's been no disruption in supply that I'm aware of so why are we paying up here and in Boston were paying four dollars a gallon for gasoline in Illinois they're paying five dollars a gallon in California the pain but why are gasoline prices so darn time. Well a couple of reasons obviously extensions and Italy I mean -- can't in the front seat every day back there are certainly a situation and we did -- mean Africa Ole actually. I think at that point as well eyes are are adequate. They're able to look at and a 88. Weekly number surprise though that's important to keep an eye out. -- come very age. Refineries particularly skirt there are less. And I makes it more expensive to transport -- And oil products. -- -- -- however argument and there -- -- -- and you have geopolitical tensions but it is. GAAP -- or oil I -- six gold and act without the net today and therefore casting. If need be I oil prices and we can -- -- back. That would be get saying and that would bring you mentioned outbreak that wearing a player out three it -- again aren't higher and some places that are credit into the and state. Four dollars. Goldman is predicting that usually -- it at all. How much it anticipating Suzanne it is yet the the high travel season coming. -- next month really I mean April you've got people that are going to be traveling for Easter and you've got Memorial Day and then you've got the summer months where everybody's on the road each weekend. Check out predicting that will likely stay around hundred dollar barrel. Barrel they. Still act not great pretty at humor but better -- -- extra. But it is like seeing one me here in election year as well a lot of candidates part of their economic package is it. What to do that energy in. Oh I think the amount of natural gas nuclear. And it. Things like clean energy -- -- -- show and believe that's the area from earlier initiatives so I think it definitely has it that issue but for now it should help. So hopefully. Will get an I report today that we'll continue to show that the either ample and expect in the Middle East school. Turned down a bit. Other than it can -- area -- oil market and it's a much out of our. What we have well Richard writing on headlined -- -- You know it's funny you mentioned solar I was with the a client yesterday and he's a he ease ease retired MIT professor CD get an idea as to what kind of intellect I was talking to and they do a lot of solar were corporate MIT and I asked him I said. Are we within a couple years of having solar power be really cost effective and hit his first question he asked he said. Subsidized or on subsidized so nice and on and on subsidized basis without tax credits. Is solar close to being photovoltaic is -- close to being an efficient source of electricity. He said -- not only are we not two years away we're not five or probably not even ten years away from it being cost effective that's discouraging you know that. Thinking that I think people can realize that that's solar power isn't gonna come on the scene and and magically. Made energy costs come down so we're at -- oil hurt. Pretty much it and the next spectator -- are -- content like text on there are really making inroads and using financial aspects. That he's just funny. By the leader at their plummeting -- -- hitting record lows. Unfortunately -- that we -- it and -- -- a cute the United States to. Figured I had better energy policy until -- get anywhere and you laps. But -- at allowed. Everywhere should be. According to some it and that is part of the problems it will be interesting to see how well let our president is letters President Obama or. Somebody -- How bad it will factor in how elect eight -- in terms that they take out states. -- let's talk about the Los Angeles Dodgers and Frank McCourt TI am lucky. -- he got record price for the Los Angeles Dodgers here. Kimberly I think it occur at quick little Matt. -- -- a few billion for the Dodgers. Can't get eleventh hour practice practice break between -- collection 600 million in that. And -- in a light Jamie McCourt divorce about a 130 and how you have let me let. How long with a married this is -- you know. -- -- it right in the rightly or -- -- -- along time. At that they kitten -- make note. It should get her money. Deal that -- up as an investor group will be buying the doctors and are up pregnant teller. Gallon of Dubai and other sports team maybe you go -- get himself the young life you know maybe welcome back -- yes yes he could he could so why did it go for so much that two billion was a record prices sold. Record frankly I think you look. They'll come on the market -- And win it we talked here a couple of folks at in nineteen previously here in New York. And -- thinking come on the market. -- the tigers a storied franchise and brand name a lot of investors like it says add because as a brand -- negotiating power. I'm -- and it preaching in terms. Sparkles Alley without air show. But you have the money from an -- out in nineteen around and it'll it'll return it what it was a couple of your it at the crowd -- the anchored in pain in the courts really -- it. Actually learn from that court documents. Delete -- -- and that profit. Is arteries in my and it went into bankruptcy. -- the in getting it right maybe maybe he should stick to real state who seek. We'll see our Iraq. And we can and -- -- -- -- -- -- -- -- ballot explained that there they actually get their forecast it didn't is or are -- and the dollar is. Probably a better price point that a lot aren't per tank. So they had forecast -- the third quarter will be pretty it. And L will continue to rise in either can start to -- came out some pressure. To -- the rubble today. Very get well Suzanne thanks very much for your time -- -- -- -- in -- joining us.