Before the Bell 7/01/2008

[0:02] ..." good morning David morning looks like we're going to officially hit that bear market as early as this morning what's your take."...

[0:22] ..." numbers show that works actually has a different terms -- to. And Wall Street just the status -- The Wall Street Journal has a lot of the data on the air markets in the system since the it's called was certainly going to face for the second half of 2008 we have an officially hit that number yet the richest some twenty persistent so. We needed to stop for a close up -- course on listing. Cleans out and they get a panic and to move upward but. There's there's not much of a catalyst here. Because second quarter earnings are expected to do much the economic numbers are disposed especially good and I don't think there's going to be any political"...

[1:43] ..." Yes the rumors which is continuing to go on Wall Street and when Apple late summer would not many people where they've they've looked for rumor so I think there. More problems this"...

[2:20] ..." appearances this morning and they are going to see the second quarter earnings. All somewhere between the high teens to the mid 40% so. That that does not bode well for restricting more than lowers"...

[0:00]" Joining us WBZ financial editor Dave -- says good morning David morning looks like we're going to officially hit that bear market as early as this morning what's your take."

[0:08]" You know lawyer I think we'll have to feel like they're patrol world -- to Israel because I gotta take it feels like the bear marketable accurate. Suppose we in the recession that for firms -- at least the first quarter although the numbers show that works actually has a different terms -- to. And Wall Street just the status -- The Wall Street Journal has a lot of the data on the air markets in the system since the it's called was certainly going to face for the second half of 2008 we have an officially hit that number yet the richest some twenty persistent so. We needed to stop for a close up -- course on listing. Cleans out and they get a panic and to move upward but. There's there's not much of a catalyst here. Because second quarter earnings are expected to do much the economic numbers are disposed especially good and I don't think there's going to be any political resolutions of the problem is that we get -- catalyst sooner. As opposed to later but that this morning where we are seeing the markets give it a little bit. We're looking at some economic data coming out at 10 o'clock it might change the direction that we get DI SM manufacturing numbers coming out in construction spending coming out and we are to get the retail -- numbers to the other consumers doing and they were down two point 2% for the last year. And they were basically unchanged directly up 110 of a percent from last week's sell. The market certainly is off its lows this morning it looked like -- market efficient we're -- have a little bit right now -- to -- futures are down fifty point four. Dow was down a 114 and expect -- 25. A looks like or president forcefully back up to fifty duo want 42 and half and don't get cold also opal but let them box where."

[1:43]" Yes the rumors which is continuing to go on Wall Street and when Apple late summer would not many people where they've they've looked for rumor so I think there. More problems this morning about Lehman as they worry about the independence of the company. Also UBS is down about a six or 7% in Europe. To get their target got its restructuring plan editors and other going to do think of the future the problem is the same time they've got -- European circuit Justice Department probe going out."

[2:10]" Yeah this would be like -- according to Fortune Brands because they're big player in the liquor business although they. Do so title of golf balls and home items as well but they -- appearances this morning and they are going to see the second quarter earnings. All somewhere between the high teens to the mid 40% so. That that does not bode well for restricting more than lowers those estimates although the campsite that we -- Constellation Brands which is the world's biggest wine company in. They sell beer and spirits as well. But their numbers actually beat up pretty handily and it looks like a -- for a for wine were were pretty rosy as well and about a I think Rosie now --"