Transcript for Jobless Claims Remain at 4-Year Low
Watch live coverage of the opening bell on -- -- -- -- -- on the exchange in November. And there is the opening bell for this Thursday its February 23 hello everyone I'm Stephanie -- in New York Dow futures were up this morning pointing again towards thirteen thousand. Turning now to discuss -- -- business headlines at this hour our buddy Jeff -- -- has to break out on Yahoo! finance. Jeff great to CIC you have your game face on so let's start with the jobless claims. Which came -- an hour ago we -- -- every Thursday they were unchanged last week at 351000. Which is actually a four year low now. Read on this. I it's unambiguously good -- -- Stephanie body. Believe that we look at the four week moving average on these things rather than just taking it week by week -- Wall Street walks like myself. And that continues to trend lower were as low as we've been since March 2008 as you said. This means we're -- got a jobs on the line I mean it means what it says which is unemployment is getting better in the states and that means nothing but good things that we about it. We've been talking about this -- long enough that it looks like it could be the real thing. OK we doubt -- -- tiptoe over the thirteen thousand mark on Tuesday. Its retreat just a bit but when might we jump over that market again and mark again and do you think we can stay there. I think we can stay there but I think that's not this week's business usually when you get to a big round number like that -- the stock market thirteen thousand being a big round number. The market and supplies there that's exactly what we need after this horrid starts 2012. I would be concerned about any move lower here in fact I think to be refreshing. And then move higher you know what we should be doing is exactly what we're doing pausing just under thirteen thousand on the doubt nothing wrong with that after the big gains we've had. And that's exactly what we're seeing just in the first minute of trading here on the Dow. Also -- in everyone's mind these days we've been talking a lot about it is gas prices rising gas prices President Obama will be talking about this today. We're looking for him to say. You know if he says he can do something about it he's probably being disingenuous unfortunately. This comes with both economic expansion which we're seeing a little bit of and the tension in the Middle East. Tension in the Middle East is going nowhere and so the goal here is to at least control gas prices and off. So that it would kill this nascent recovery that's the balancing act he hasn't frankly neither side of the political -- going to be able to do much about it. In this case because it's all stemming from my Iran and Israel -- -- look like they're on higher. Yeah I get some -- say this will hurt him politically. In the election. Let's talk about Europe the European Union is now forecasting a -- reception. For the seventeen countries in the Euro zone. There was talk about contagion six months ago we don't hear that now is this going to affect us here in the US. As long as it's my old. It won't affect us -- a mild recession means is not in our house so over there seems -- from the maybe tell us but when you're actually in Europe. It's pretty bad it's not impacting us as much and it's -- of the headlines largely because of our short attention spans. The European situation has not been solved it's just been push on the back burner. It's a nice place forward to be vet candidates were far from at the end of the game and -- -- I see that I came in trying to be all -- and keep asking me questions that are -- let's ask questions in Europe. Stay there there are horrible it's a tough situation and hear the questions easy to answer in the sense that no Greece's problems are not behind it. And no in fact the deal that was struck earlier this week is not going to fix what -- Greece Greece has a 20% unemployment problem. They've got austerity measures being pushed on them from the Germans the situation is going nowhere fast very elections in Greece. Later this month where you have to watch and that is not getting deep into the details on it but whether or not the new government -- -- Tends to abide by the rules that are being -- laid upon it by the rest of the European leaders. Current -- comeback over here Hewlett-Packard. Another big headline today says its numbers for the quarter are not going to be as good as analysts predicted. Just CEO Meg Whitman get the blame or do we need to give her more time for a turnaround. -- She gets a pass on this one and should get a pass for a couple more quarters. HP had a lot of problems before she got there they've been through CEOs. Like a hot knife through potter I think she's a third and last two or three years now. -- so you know and the business the core business is not terrific there they're gonna trial lot of new things cloud computing -- -- Everyone in their dog is making a cloud computing play right now I think that where we're gonna have to see Alabama's execution she's a very good CEO we see now from her before. If anyone's gonna right the ship she's got -- greater chance as anybody else could. She's a grown up CEO that's a terrific improvement but in terms of the stock. It's one you -- from the sidelines as far as I'm concerned. -- we've got an update on the collapse of MF global investigators are looking at two money transfer is now that were made right before the firm went bankrupt does it sound like something a legal may have transpired. Or was it just a last desperate effort to save this -- Don't have to put allegedly in front of there's just for -- for her yeah yeah yeah okay so. Allegedly it seems like something ridiculously illegal happened and theoretically they should be cracking down throwing people in prison. Yeah don't yeah. It hurts to ask whether I put allegedly in front along so I believe -- -- But here's the thing about this particularly in an election year you're gonna hear a lot of rhetoric about how we need new laws need to crack down on Wall Street fat cats. And -- global was overseeing one point six billion with a B. Dollars that are now in money have and they've disappeared we don't have laws to cover that type of breach of your customer's security. Then we shouldn't have laws at all that this just enforce the rules we haven't you're going to be perp walking plenty of people from -- IMF global allegedly sometime real soon. And Tuesday. A story we -- I haven't heard for -- while frankly Michael Jordan. Is suing a Chinese company for unauthorized use of his name on sportswear and shoes is not surprising to me that that's happening. But is it unusual that he's filed the suit instead of Nike. And how might that affect. Case I turn affect the case and that mr. Jordan's going to lose the -- allegedly to I have to say that messrs. I don't think so he's going to get stopped. And here's why he would go after China instead a Nike Nike doesn't want any part of this fight. The Chinese are violating trademarks copyrights what average seems to mean very little over -- this is not the first time they've been accused of us. Microsoft has had a problem with them all the food brands -- -- they're knocking off a lot of things. It's something no administration wants to talk about his China as some necessary for the growth story in America so Michael Jordan's going after them himself. You know it's it's been a few years since Michael Jordan surmounted any great mountains like this and China is not going to be his comeback story. But it will be an interest in case to watch as it progresses through court. And -- Another interesting story especially when it comes to those of us that are concerned about privacy on the Internet a coalition of Internet giants including Google. Microsoft and apple had caved into pressure and agreed not to track users with their browsers. It's costly decision for -- jobs. Now it's it's a little bit of PR here -- I don't know where we came up with the idea that the Internet was this private place that you go on this. Widely dispersed company -- you know the Internet which is all affected by companies. It's basically exists to -- advertisers did you secure place or more information about you. Whenever these companies say Microsoft. School apple. Particularly cool they're in the business of knowing your private information and so I don't think that this is really anything other than -- I'm just saying listen relaxed. We're not going to exploit your information and has naked away as we have been doing. But they still have to Google's -- on that trial is to know what you're into and to send you ads accordingly so this is your privacy is not protected -- -- -- even with our show Stephanie. Then. Anything just going to be watching today. I want to make consumer you know -- -- we've got -- gas prices some atop everyone's had. And we're hearing from retailers this morning. They're talking about earnings I haven't -- map badly consumer actually stepped up a little bit nothing great no great shakes out of -- it was -- target came in okay. Wal-Mart missed a little bit Home Depot strong I'm looking at -- guidance on these companies deceived consumers are already pulling back. Anticipation than reaction to gas prices being so far we're not seeing it but -- got again. Yeah we know that that's happened historically just MacKey from our partner Yahoo! finance a lot of interesting headlines Ajax. Have a great day thank you all right thanks you --
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