Before the Bell 8/12/2008

[0:04] ..." in this morning hi David whatever. Little -- just today with the oil prices being down --"...

[0:11] ..." different though we're tickled the trade deficit and you know that's the economic data do you weren't. You know it's like we talked about trade deficit as opposed the use because the balance of trade to oppose it along with the underwater -- and along with the deficit but. You know this time higher oil prices have not -- that the past but they have -- at this time is that these -- little bit so. If we'd look at it right now the gap narrowed to that four point 1% and for any you can only gets 56 point eight billion dollars is what it is and we got to help promote oil prices dropping and also I think the consumers trying to wean themselves a little bit off of their oil and gasoline addiction that's"...

[2:20] ..." they're trying to do this morning is just so often. And to spin off if you would the wealth management side of the business. From the investment -- shall see what happens there Wachovia lost nine point one billion dollars second quarter"...

[0:00]" per hour before the bell stock report WBZ financial editor J crew says in this morning hi David whatever. Little -- just today with the oil prices being down --"

[0:09]" Yeah this today we're looking at several different though we're tickled the trade deficit and you know that's the economic data do you weren't. You know it's like we talked about trade deficit as opposed the use because the balance of trade to oppose it along with the underwater -- and along with the deficit but. You know this time higher oil prices have not -- that the past but they have -- at this time is that these -- little bit so. If we'd look at it right now the gap narrowed to that four point 1% and for any you can only gets 56 point eight billion dollars is what it is and we got to help promote oil prices dropping and also I think the consumers trying to wean themselves a little bit off of their oil and gasoline addiction that's open as well. On the flip side of that though the lord dollar is actually making it a little bit more effective for our exports to be cheaper and we have had a rally in the last couple weeks of the -- but the good news is is -- so seems to be pretty cheap and it's opening numbers also receives a Russian President meant it this -- the end of the military operations in Georgia so. There was a report though a couple of pipelines because don't buy PP but it really -- had done much in the market prices and their. We're procedures stabilize and we participate futures right now doubt about the five point one. We get down down around 45 we kept an aspect that two and a half -- prices up about a -- twenty. 114 changing real simple that the dollar 7830 --"

[1:26]" You have logistical financial you know they certainly have been a hindrance to the markets of late and what we're doing. Tomorrow we have this temporary shorting ban on those nineteen financial stocks we're going to beat out the speculators are going to come back or -- Italy and extended to -- but this morning a lot of financial stocks like Goldman -- a couple of downgrades to earnings -- today. Oppenheimer analyst said the reduced their earnings and also Deutsche Bank again -- struggle brokers said that the Coleman's that's very high exposure to stocks and portfolios and their little worried about that. JPMorgan the company that bought Bear Stearns the reported a big write down of four point five billion on the mortgages. Although by today's standards almost seems small as an example UPS they were down five point one billion more it was a 900 million dollar a charge against these auctions securities haven't been talking about in their loss for the quarter. It is 331 million dollars to -- something like 42 billion mr. burden off from them so what they're trying to do this morning is just so often. And to spin off if you would the wealth management side of the business. From the investment -- shall see what happens there Wachovia lost nine point one billion dollars second quarter further revised it downward a little bit -- again those auction rate preferred to coming out it. A Morgan Stanley was also by about four point five million of those auction rate securities and what those are issued a -- which -- dispose those securities are -- And they -- quite as liquid so to make sure that the by ambac."