Jan 8, 2013|
What's Up On Wall Street - Jeff Cox, CNBC.com
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
One of the injured. 10 o'clock hour of the financial exchanged -- not a filling in for Barry Armstrong along side. June -- June we are still giving away our 25 dollar gas card it still has not been given away today be the 25 caller. At 888. 2052263. When you hear the gas pump bell and make sure that you know the password for today which is gadget. Still have that out there but joining us right now we do have Jeff Cox from CNBC. He is on the line with us and Jeff powers this morning. Good morning chuck good morning -- I got. Yeah -- we're doing pretty well got an early night last night with the the football game being over -- Orleans that was certainly nice to not have to stay up till midnight. Yeah I was Tibet have. I think a lot of folks -- I was I was included there's so let's let's take a look at what else happened yesterday the markets were down slightly. Was this really just consolidation of last week's big gains at this point. Well I I think that that. It'll cut a one way of putting you you know that the way I've been looking at a I have accomplished going up a bill closing -- a little while at later on this afternoon talk about basically. It it was. Last week's relief rally was a little over done and how we actually did see an historic drop in the volatility index which is kind of the market's way of measuring. Here through the options trade. We've seen it 39%. Dropped and that at historically almost always television used to that -- had dropped. It depicts it used to complacency in the market confidence is over done. Do for a drop in the market and a rise in the fixed so. I just think you're kind of seeing some of that dynamic -- out that there are a lot more -- -- for the market leader and we kind of got a little bit carried away with with some with -- -- followed fiscal cliff by a quarter of quote resolution. Ansa news that we are gonna have coming out today that might start to influence things over the next couple weeks we do have earnings season starting with Alcoa reporting after the bell today. What our expectations for them. Well it did the year the expectations are that -- I was going to post the kind of modest -- here I think it's around nine cents or six cents a share -- sorry. With our revenue of about five point six billion dollars elegant yet there earnings have been nothing to brag about for the first several quarters running here but. You know if if they can at least get this soft to -- that it could stir we got a little momentum there. And -- and I think the two big exit question could be looking for a good top line revenue growth. And what the outlook is going to be going forward how much confidence companies have in the economy now. And and moving now over to attack we we do have news out today that the new Samsung galaxy is being an iPhone sales. Just by itself so not not the entire android marketplace really. Just the galaxy is is apple should they be getting a little bit concerned about potentially losing some market share here. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- A little bit over -- some disappointment on the part of consumers. I really felt that that commercial that's announcement about what it was kind of devastating news what are one of the better commercials. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- This is the start to kind of normalize here. And sticking with -- for the moment FaceBook has obviously had a very tumultuous twelve or seven months since its IPO rather. And you know at this point now it is up about 70% since its -- from earlier last year is there anything in particular driving this move at this point. ROC FaceBook backing up a little bit that but I think that the overall trade here is that starting to see do there's some analysts have been coming out over the past several weeks they've been raising their views about. How they see if FaceBook. -- at numbers are starting to look -- better there and I also do think that there's been sort of the technical. Justice system technical things happening with FaceBook. Guys who watched the -- that's saying that is it held some important trend lines. And that is for support goes and broke through there that he can just look at the chart going back in the late fall. Or late October he just started to see. Technical breakout Facebook's shares and they do think that that's going to be some encouraged him to keep watching. These are getting back around that thirty dollar range which is going to be and important test for that would show that those going forward. -- and as I mentioned earlier we do have earnings season kicking off today with alcohol but what are some of the other big companies that you are looking for as this earnings season kicks off to maybe get a little bit of a Bellwether as to where this economy is going. Wanted to be looking at some of health care stocks because it and I do think that's going to be very interest thing to us these with the effects of obamacare going to be -- With that that the higher rates obviously coming should be pretty cute there also obvious you were gonna do you know the that the big banks come out early so. We always look at those JPMorgan Citigroup Goldman Sachs that those kind of companies to just got to -- -- what the landing trends are because they do believe that that's kind of the final linchpin. In the economic recovery terms you know it doesn't -- get back to normal it is it is the consumer would go out there and get bodies. -- -- -- this economy kind of shaken -- the after effects of the financial -- Already well Jeff I appreciate it coming all with us this morning and thank you for. The insight as always you -- -- -- thank you to know that was Jeff Cox from CNBC. And in June again talking about where this market is right now. We are seeing a little bit of a pullback today taking a quick look at the numbers at this point about 45 minutes into trading right now. The Dow down about a quarter of a percent as well as the NASDAQ and S&P so. A little bit more of the pullback that started yesterday and as Jeff mentioned. A little bit of that could be because folks have seen a pretty big run up in the market yeah -- might be pulling some some dollars off the table at this point but. You know based on everything that we're seeing we don't expect this to be a big correction. At this point we certainly we could see some news in the next couple weeks that changes that with earnings season. And a whole host of companies slated to report over that should be interesting anyway yeah. Definitely nothing at this point there really is a big. Red flag he'll let me ask you this -- -- you know anyone that's been -- has the flu. Do I know anyone who's been -- not a lot of -- I know and it's been it's been a bad food style and hasn't -- I got -- -- who shot personally I'll see Dave got a flu -- we got something for like a day or two to last long that the bird flu a lot of -- A lot of people have been simple guess what's. Help. There is help on the way. If you get the flu. And you don't wanna know who gave it to use you can beat the crap out of them or something you can actually there is that you can figure out who gave -- the -- there -- -- out OK you click -- -- -- made me -- button on a FaceBook page -- track down prime suspects. Such as those who have mentioned the word flew in their status updates. Those who've had multiple late night posts of sleep deprivation. And yes the app actual puts people. In touch with Q and -- puts you in touch with these folks. Who might have a they give you -- -- new contracted downs you've been around and it yet. It'll tell you who gave it -- clear much of someone's posted late at night. And mentioned the word -- yeah they're gonna show up on this or sneezing coughing vomiting all that stuff and seeing how is enough. How do you tell who has the -- just west hang over half a there is typical sneezing coughing flew 16 -- what you over Christmas everybody was full. -- that they were either sick they had a fluke I know it has been a bad year for the flu like I've seen that in a number of places that cases are higher than they were expecting. It's really bad happened first Hampshire personally I get a flu shot every year just because it's it's a case where you look at it and say you know if it up it's it's it's three to four weeks before -- back a 100% especially if you have a bad case of it. You know or if you're older some -- question is which you knock you out lets you track somebody down once you track these people than you do narrow it down to maybe that person Gaby what do. Beat them up a -- number. All I wasn't when a caller again it's not -- -- wanna -- -- beyond that. -- -- Go back to your couch girlfriends. That's all appointed this what you not. Just to not go -- that can't buried as to what you've already got out I can catch the same strains so its its case that help them on FaceBook. I mean it was out in people for the two big weight on what your audience -- okay -- affluence are I don't yeah I deal. As it felt it has doesn't seem like mono in high school where it's like I got it from so and so it's this is little different it seems a little right. Rhinos don't you just. It could. -- -- I wish I was happy the wheel was all I got -- -- -- I'm good. What does that mean the thing is that what is that we're gonna go to break coming up after this break we are gonna be joined by David Carnoy from CNET dot dot com that's next right here on the financial exchange.