Before the Bell 6/4/2008

[0:00]" It's time for our before the bell stock report NW BC financial editor de -- checking in this Wednesday morning hi David -- ever. We're looking at a battle of the financials versus economics."

[0:10]" You always certainly are you know this last week we've seen a surprising number of financial concerns with tornadoes coming around and yesterday -- spoke little about Lehman Brothers and their need or may be no need. To raise capital they -- off -- but boy it's created very quickly. I think the ultimate fear there's that you know you you talk about Bear Stearns number two no I don't think that's going to happen but you know the market just getting cash. Skittish and they're -- little bit worried about the economic temperature. And then speaking of that it was actually pretty good temperature this morning as we get some news and jobs in productivity. Whether the jobs numbers this EDP report which as a payroll company that gives a preview of Friday's jobs data they have some pretty good predictions in the private sector. They talked about adding 40000 new jobs and not the contraction you're probably expected we were in a recession. On the productivity front that's great because it's you don't have a hallmark of a successful economy it's about higher standards of living in -- should nice strength as well as the revised first quarter showed up two point 6% and drove verses the would get that before which was two point 3%. And even in the nonfarm sector they -- to hire two up three point 3% in the last four quarters that kind of matches that. The previous -- 2000 force or make you more stuff in the -- make it cheaper. And labor costs came in as well and their numbers were actually. Revised lower by about 110 of -- percent -- kind of -- a little bit of the labor inflation that the defense and talking about the markets have been worried about so they're hopeful we can during the class the three big trend but the right now the start not so I think it futures down five point six Dow was down forty right now and that fact that on the ten point two. That oil prices go up 57 21 point three change which is over ten dollars offer from its size of the couple weeks ago gold took a dollar fifty -- 8087 -- want to."

[1:50]" David let's take a closer look at those financials."

[1:53]" Data I mentioned Lehman a little bit -- are really about them maybe not need the capital by the looks like if state do a according to The Wall Street Journal they're going overseas and looks like South Korea might be interest in raising some money in. It shoring up their capital. Merrill Lynch also trimmed their estimates on the Bank of America there you reiterated an underperform rating on the stock -- concerned about the credit quality of the countrywide mortgage and some of the acquisitions -- gone through. And respected Banco that was from a Ladenburg -- slash desist from its for the fourth largest bank the United States -- we talked about yesterday -- a lot of adjustments coming for him. -- treatment as well is that the management changes and -- yesterday Ken Thompson was kind of forced out of the --"

[2:35]" non financials in the news."

[2:36]" No -- and so -- I like to shop and apparel and out shopping enough because their earnings were down ten point four were this quarter. The port -- sales were off about the four point 2% in the unfortunately but they're putting their guidance the economy as well. United Airlines according to jobs salaried and management probably fourteen to 1600 people without -- going to be 500 and they're also take about a hundred planes out of the week that try to increase the fuel efficiency -- coffee and GM well you've -- to have the same -- give it looked like JM -- is displaying Folgers coffee from PG for three point three billion dollars and I got this -- reported I didn't mention elections and politics so I did I guess that baby weighed on the market just a little bit."

[3:17]" had to mention food I Activision posted -- cat -- quite beings. Thank you --"