Apple Anniversary; Will Armstrong Still Do It For Nike?

Matt Nesto analyzes the morning business headlines.
3:00 | 08/24/12

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Transcript for Apple Anniversary; Will Armstrong Still Do It For Nike?
Fourth everyone I'm Tonya -- in New York stocks have been in the middle of a pullback the last few days will decline continue joining me now. To discuss the top business headlines this morning is -- -- cohost -- break out on our partner Yahoo! finance good morning Matt. Good morning Tanya. -- looks -- Europe it's been awhile since we've discussed Europe but -- Back in the news is and weighing down markets have been here Greece is saying it needs time to Doreen as it tries to fix its financial trouble -- -- of a problem. Is this for the rest of Europe and for us. -- -- always going to be a big problem for Europe and you know Greece's. And the negotiations they have about dealing with their debt. And their bail out it's always bigger than -- because of course all the neighboring company countries in Europe are going to be looking at what's going on -- so any deal. That -- cuts presumably Portugal and Ireland and Spain and whoever else would be able to offer the same thing so it's Greece's sort of the you know the front line of the negotiations so far it hasn't really affected the US stock market as you said. Going into this we have really talked about a for a couple of weeks and you know it's a known known as we say on Wall Street we know about. This situation as long as it's not worsening. We got it with -- we got it just speak about -- visit do it it isn't effect it is having a -- affect. On the currency markets -- -- in the Euro actually strengthening against the dollar. Oddly lately and we see the big move again. In treasury so there's a lot of stories that have been sort of cool through the summer months -- stocks that -- -- that five year high. They're coming back to the -- and they're now all elbowing and jockeying to try to be the big theme as we get ready for September and October is going to be pretty active month so -- talk about the price of oil mentioned treasury yields big moves there so there's lots of stories gold lots of things going on the market right now all trying to be the top story again. Actually you -- the -- in the Euro I keep waiting right European vacation to get cheaper but it does look like he's gonna happen anytime. -- -- -- -- the -- past hour about the we have new figures on durable goods the Commerce Department says that orders rose four point 2%. But he take out aircraft in the -- the numbers were actually down point 4% so what are these figures tell us about the economy right now. What it can't say they're good it's good news media transportation's. Was up 14% that's -- that number that headline number looks so good but that's also why that they run that -- number is well ex transports. They also sometimes back -- defense. Because those tend to be lumpy and and they tend to distort. The bigger picture -- look at things like machinery and electrical components they were down. And if you look at the prior month which was originally -- one point 1% it was doubled down. Two minus 2.2 percent so that he gets it that the durable goods picture of the manufacturing seen. Is improving at all it seems to be kind of do -- along at a low level that it was patsy RI watch these numbers it certainly is not a case offer a strong markets -- Thing is running away from us Ariza Matt congratulations on top story and Yahoo! finance right now is your. It's about Tim cook's first anniversary as CEO of apple tell us housing and doing. Well it's. Saying you know if you're an investor you're Lebanese you're up about 80% in the year an amazing year for apple and we've -- lot about the company. Being the biggest in the world now -- that 65060. Billion dollar market value. That man Tim Cook on their first year in markets saw the value of apple. Go up about 275. Billion dollars that's like creating a Microsoft out of -- wow amazing -- right on top of you know the 375 billion dollar company he inherited so to speak. Or you know Coca-Cola. And Intel combined so it's been a great year. There's a lot. That people are waiting for to see in terms of his real legacy and the main thing at least for the people I'm talking -- is his old new product category could be apple TV could be the iPad mini. Which I think is really kind of you know derivative of the original well let me -- -- -- throwing his weight behind right now. Well right now I mean I gotta say it's the product because he -- he's been involved in just you know running the running the company keeping things going. There's a lot of legal battles going on out there he had some members usage to -- right get some labor issues in China. It's -- is if you know he declared the first dividend in seventeen years. And so you know there's a lot of fights going on the technology you don't even know -- your rival is if you take a look at the three of four biggest technology companies 200 billion in north a market cap. You never know who's your friend to your -- any given day or any given the given fighter and -- given courtroom so. I think the big test for him. Will be how a new killer category. You know we had so much success with from iPods. -- -- sort of Q did antiquated now to iphones ipads that iTunes all the things that just -- roll -- out there in the Steve Jobs are so we need to see if Tim -- carry this or perhaps he's going to be the legendary CEO. We're just the caretaker as -- Guests told me in the peace. Right that all in all it's been a good year so oxygen and campers yeah Africa right now what are the top news stories of the -- Lance Armstrong is being stripped or is in the process of being stripped of his toward France titles. Government business standpoint -- he still do it for Nike -- the other companies he represents. Yet -- Nike I say to their credit standing behind them they're saying you know we have a concert -- them and you know he's our guy he's unbelievable person then we we all know Lance Armstrong and I think. There's enough. Uncertainty around this drug testing situation in these foreign tribunals that can -- with -- -- out any sense of -- course. That there's that the some of the things that they find your blood this is years and years gone by. You know them the market will tell what people will do but I think Lance Armstrong is a charismatic. And there is a strong. Personality. To see his way through this is -- -- completely out of the blue. It's unfortunate you know -- to see you know the preeminent. Attainment of your life being stripped away by some panel. You know halfway around the world but you know prominent -- business endorsement standpoint I don't think that any American wolf you know forget about. Lance Armstrong anytime soon. That's right that's -- current -- let's take one look at the -- him before we let you go looks like down about ten points or so. Thank you so much manifesto is -- against --

This transcript has been automatically generated and may not be 100% accurate.

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