Occupy Wall Street Evicted from Zuccotti Park

Suzanne O'Halloran explains how 'OWS' protests affect U.S. stock market.
9:20 | 11/15/11

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Transcript for Occupy Wall Street Evicted from Zuccotti Park
Dow futures were down ahead of the opening bell joining me now to discuss all the business headlines at this hour is -- -- -- from Bloomberg. TV good morning Suzanne so we have lots to talk about let's get straight to Occupy Wall Street and the surprise. Clearing out early early early this morning -- and Connie -- the latest information we have. Is that the protesters have actually gotten a court order now allowing them to return to the -- will continue to fall about today. But let me ask you big picture wise how much impact have these protests had on Wall Street any evidence. That they are affecting change in some way in the financial industry. Yes certainly you know -- Anderson -- -- -- -- -- -- of protesters. The group's start to for spread across -- -- we had big folks. Including Larry thank -- heads up black rock the biggest money asset management firm in the world -- come out in support of the protesters and say that. He and others on Wall Street understand how folks are upset about -- an appointment and -- And other issues and let's also really -- when you have to -- the impact. -- yesterday actually had an impact if you -- called this a couple weeks a lot of the banks. And and homeless five dollar debt it's C a monthly -- And they backtracked on that in part because of these protesters out. Yes the protesters have certainly had an impact in terms of influence -- -- the banks however what we're seen in terms of today -- -- hearing from -- Areas like -- -- an Oakland California is. Some of these groups now are I had believed homelands. Also a couple of focusing on -- -- had drug overdose is still. That I think takes away from the movement -- a clearly a couple of weeks ago it certainly did -- force the hand of the banks to back track on adding additional fees to the consumer. Yeah absolutely seems like the larger group is having an impact but there's the sort of fringe groups with -- The movement now that are just distraction -- let's move on -- we've got a lot of other stuff to talk about including new numbers out on retail sales they are at up. Half a percent in October is visiting -- sort of predictor. As Suzanne for the holiday shopping season. Yeah it's pretty good predictor because we have seen retail sales amount -- some other economic data actually be pretty solid that consumers. Each shop on October they've got things like big ticket items like cars -- as we now we're in the Apple Store buying ipads in the new -- -- so this isn't it indicator. Certainly for the holiday season -- that consumers are comfortable. Spending selectively. However we did have some retail numbers out today from Wal-Mart the world's largest -- -- suggest. That -- -- a certain percentage of the population is still under some economic -- OK also out just in the past hour the Producer Price Index. Which was down point 3% in October what's your read on that number yet it's actually really get signed because day in two ways number one is at prices are not raising the wholesale levels of what this simply tells us. In that inflation is not a problem and as we now -- some folks certainly happen anymore in recent months for gas for example. But we have a number like the PPI it is known on Wall Street actually decline a little. It -- jealous that inflation isn't a problem not something the Federal Reserve watches as well because if inflation were to rise rapidly rise above -- what the Fed watches that could potentially means it means that that would come -- -- raise interest rates now that's not gonna happen and we get a number like the PPI today. That actually further illustrates -- that that will likely keep interest rates. White where they are but clearly we're focusing on things like retail sales and corporate earnings to give us more of that. Better sense of how quickly the economy's recovery -- you just talked about the retail numbers out of Wal-Mart for Home Depot is their headline there. Yeah -- didn't really get it and -- numbers came in better than expected in the house of -- -- -- -- about 16%. The soreness on deep if they happen in a bit of a turnaround and they think controlling costs really -- also benefited. From a number of storms we had late summer and early involves -- that's. An interesting trend as you know a lot of folks up particularly in the blackout we're looking for generator is an and that actually. A lot of generators are sold out for example at home deep is what we were hearings now that's -- story with some deep that's certainly have posited that consumers -- in. The story to home retailer shopping for other items for the home not to get signed. But just following up on Wal-Mart wal mart's numbers were not as encouraging the company actually makes its profit expectation -- CEO Mike did. At his core customer. As we know Wal-Mart is the largest discount retailer is under pressure mom is one of these companies. They watch actually every single second of sales and they now -- consumers are under pressure and what we've heard in the past a lot of consumers are waiting for their. Check whether it -- check from the government an unemployment check our paycheck to clear before they're buying things like food and drugs and that's very telling us they're holding back. I and I said. On discretionary purchases and and that's a little -- son because Wal-Mart is such. A large retailer and it really gives us against snapshot of the overall economy -- wal mart's numbers perhaps a little bit troubling. For the overall economy even though we did see overall retail sales -- pretty get not. Okay it looks like we have lost as -- -- -- and Steve we'll try to get her. Back but let's take one look at the Dow right now as we leave you if you sat down about thirty Suzanne we have you back. I'm here OK we lost you -- second -- let's get back yeah okay. -- about Europe because we Knoll that it has its share economic problems. But right there's also some new indication in the region could be headed towards a reception tell sent out the latest that stray in a you're could become -- -- bigger story. For today's market session partly why we are seen. Socks under some pressure in the early going. Europe and your economy grew just tee times -- -- percent that's pretty much actually no growth. -- so what we're hearing from -- -- European leaders perhaps in. The next quarter we could have a contraction. And that actually can't be a sign that your is heading into -- recession. So that is something Randy Keith and Diane and as we -- Europe has then in financial term while even though they have had a key shifting government and that's trouble spots like Greece and Italy. What we're hearing today it is there is an awful lot of confidence. In the new government in particular. Italy and we just as I was heading up here we had an Italian bond -- street above 7%. That's the dangers on that raises borrowing costs were also seen frank shields we talked about this last week about potentially the next country to keep an eye on. Those heels are surging as well so what that tells investors have very little -- In the eurozone right now -- -- really need to see more input from some of these new leaders in terms of what their economic austerity plans are you can implement that. And will the people of those countries except. -- investors here in the U last watching that situation closely all right let's not about. Warren Buffett and George Soros air revealing their recent stock purchases everyone's always with bated breath seeing what they're investing -- where they're putting their cash. What should we read from their decisions -- -- it -- the money. One of my favorite things to watch me get these -- -- filings which it tells us let you know these big billionaires. And Smart money guys are -- focus not now Warren Buffett because everybody. Loves to watch more about the he's the most successful investor out there nothing -- state that he recently added to the most interesting here -- me and expect that ten million dollars on. IBM IBM certainly an interesting company because it's a stop this is what -- your best out performers is here. The story with IBM is and a hat and about a five year plan -- about halfway through that under CEO Sam Thomas on him to grow revenues and earnings and things are going. Quite well in this. This is a company where -- pain not to be boring and Steny. No drama no surprises here so -- interest -- with the advance -- the stock -- hit a record a couple of weeks ago that Warren Buffett was buying at that time as well so that's certainly interesting also added CVS is another one of his picks this is. Is the largest drugstore nation in the country they're benefiting as consumers. And they acquire Caremark awhile back as consumers. I'd take on more use more out pharmaceuticals are particularly those aging baby boomers he also -- and tell DirecTV so. Certainly will only see somebody like Warren Buffett put money to work. In these stocks it's very encouraging for those companies themselves because it shows he's also by the way a very long term investor in this tells us idiocy and the -- I just mention. Over the long term of course he doesn't tell us how long is gonna hold these companies. But the fact that he's buying -- is a very very bullish for anything just mentioned -- with George Soros. We love to see what he's in the Amazon as a pick up his -- talked about Amazon in the past that -- making headway with their Kendall even though their last quarter they had a hit and miss that. The investment -- product is actually hurting the bottom line but. Clearly Soros believes they'll get their act together going forward in he also -- Motorola -- ability that's actually company that recently split from Motorola. They make your Smartphones that we use now we see these guys putting money to work. I think it's really one of the best indicators for folks out there who like to take they may know something we -- right let's take Weimar like the Dow rang out trading various lapses. Suzanne -- -- -- grant from Bloomberg TV thanks so much for joining us have a great day ET thanks Stephanie thanks.

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

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