You're watching live coverage of New York Stock Exchange opening felony -- -- Ringing the bell this morning we'll collect funds the company celebrating the launch several new teams traded funds. And... See More
You're watching live coverage of New York Stock Exchange opening felony -- -- Ringing the bell this morning we'll collect funds the company celebrating the launch several new teams traded funds. And you just turn -- the opening bell for this Monday August 13. Hello everyone I'm meg Oliver in New York we definitely had a winning week on Wall Street last week can only continue the move up. Joining us to talk business headlines this morning a man who also had a winning week because he was on vacation -- task editor in chief of Yahoo! finance nice to see -- and have a nice evening so Google is cutting 4000 jobs at Motorola mobility the cell phone company that it bought back in May. Aside from trimming expenses what's the plan -- Well. It was amazing that when Google bought Motorola Motorola mobility logical thought they were just gonna buy it for the patents and you're gonna close down all the operations and fire everybody to company. And then who will they said no we actually want to build phones using Motorola as the hardware maker we have the -- with android. And so I think at Motorola there was a sense of while we are we moved some relief. But now Google has looked through the company is it okay. There are certain parts -- we want but we don't need a company this big and they're letting go. 4000 people they're closing of -- of offices and so it can't be very good from around -- Mobility right now. For Google again and the -- there they're trying to compete -- -- with the iPhone and basically have both the hardware and the software and build at all and one. Do you think -- -- Smart -- do you think this will make it more competitive. Well look you know that I saloon is such a juggernaut and the challenge for Google's that the only real competitor right now for apple Samsung. -- whose phones run on Google's Android software so Google might have a problem with. Samsung and other hardware makers. Saying wait a minute. Now you're competing with us if you Google go out -- build your own phone. Motorola phones -- -- the challenge that the -- and I think. They see that they have to compete -- apple. And so give him credit for trying. But it's gonna be a big challenge for them. -- -- another challenge a lot of analysts across the country and is looking to squeeze in maybe one last vacation that gas prices keep moving higher. How -- of a threat the increases to the economic recovery. Well. It's interesting you you know on the surface -- the power gas praises his attacks on US consumers and it's gonna really put a crimp consumer spending. But the reality is we gasoline prices were higher during the first part of this year the consumer was doing better in the economy was doing better. So in a perverse way higher gasoline prices money and I -- money. Be a sign of increased demand there's more demand the price goes up which is a sign that consumers are actually feel a little bit better. I don't think we're at a level yet where where is really gonna start to creep people -- -- yet to get well above four dollars a gallon. Before people -- you know I just can't afford to drive anywhere -- drive lasts so it. I don't think we -- -- real conclusions yet but I don't think at this point it's really gonna hurt the economy. OK let's talk politics and Paul Ryan big news over the weekend how does Wall Street view Romney's -- for our running. Well I think generally speaking Wall Street agrees with -- Paul Ryan's philosophy. You -- we want smaller government lower taxes and that people posted. Pull themselves up by their own bootstraps. I think -- -- -- -- deeper and some people are saying to wonder if having Ryan. On the ticket means that we're more likely to go over that fiscal cliff that you keep hearing about -- into the year basically congress doesn't act. Between now and the year all these. Tax cuts are gonna go away and spending. Government spending is gonna go way which is really gonna hit the economy and and Brian is seen as a guy he's not. Really. Wanting to -- compromise on that and so this might be assigned the congress is not gonna take any action for in the year and that is little that worries were some. OK now let's move onto one of our favorite -- topics of discussion which is FaceBook. Share prices are likely to start falling later this week what's going on here. Well FaceBook has -- it's a sad sad tale the there's a -- lock up expiration. When when a company goes public a lot of insiders. Aren't allowed to sell their shares at the time of the IPO. And so there's one point six billion with a B shares of FaceBook stock that's starting to come out of expiration meaning those people can sell the stock. Now if they want you. And it again just like -- gasoline it's all about supply and demand. -- you have potentially huge supply. Of FaceBook stock about to hit the market at a time when demand does he do very good so. They could put downward pressure on FaceBook stock although I will news. This is something that people on Wall Street at least have known about for some time it's it's been disclosed. So you could argue in the this is the only hope for FaceBook shareholders. Is that a lot of this expiration is already been priced into the stock which as I'm sure you'll know has not been very well since the idea of. Right well let's hope for them. All right let's take one more look at the Dow before we leave this morning and it's opening the week in negative territory down about 33 points. Aaron -- from -- finance thanks so much for joining us this morning thank you.
This transcript has been automatically generated and may not be 100% accurate.