Dave Caruso's Before the Bell

Before the Bell 9/2/2008

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Play from 0:08[0:08] ..." first day of September -- make at September 2 but. Of course Wall Street closed yesterday for Labor Day so four -- of the market left ago why don't you give us the year to date"...

Play from 1:19[1:19] ..." to dip back to reality so that. A basket of goods the Dow Jones AIG commodity index is only a two point 66%. Oil still up 40% about the 60% we're talking about not long ago and that the dollar actually up for the years so that's really what's hurting them more than anything else so this week a lot of stuff to look at include. With the construction and spending in manufacturing in autos sales and factory orders and productivity and service sector reforms a lot of this is coming. And it's also the crews did Chris"...

Play from 2:59[2:59] ..." We dimension of Prime Minister that that we're seeing worldwide problems could happen right now that's what commodity prices going down google's got into chrome and it's"...

Play from 0:00[0:00]" Time for before the bell stock report with WBZ financial editor Dave Koreans out. It's sponsored by United Technologies. And -- here it is the first day of September -- make at September 2 but. Of course Wall Street closed yesterday for Labor Day so four -- of the market left ago why don't you give us the year to date numbers."

Play from 0:19[0:19]" Well -- that they're not so good accountant to tell you a nuclear look at where we swear October ninth of last year that was kind of the -- it's with a bit of bear market conditions ever since up. If you look at the markets hope -- will -- more happening -- this is the unofficial end of summer so we'll find that they're going to be a lot more people coming back making these hard decisions the last thirty years pretty important and I think we're probably sometimes see the volatility. Continue to go up and in the last thirty the year hopefully we'll see kind of a little bit of a rally toward. September and October Sudanese. In on November December and then you'll get a little bit here in September October would not the day -- a couple of pretty good today. There's a look at the year to date numbers go down 13% this year S&P down almost the same dental point 6% Nasdaq off almost 11% Russell 2000 is the start so the small cap index is only -- three and half percent. Worldwide the Isa international index stood at walked at one point 3% because of the dollar firming up and it's an international concerns. A commodities they they were hit the bottom park earlier this year well right now we're going to dip back to reality so that. A basket of goods the Dow Jones AIG commodity index is only a two point 66%. Oil still up 40% about the 60% we're talking about not long ago and that the dollar actually up for the years so that's really what's hurting them more than anything else so this week a lot of stuff to look at include. With the construction and spending in manufacturing in autos sales and factory orders and productivity and service sector reforms a lot of this is coming. And it's also the crews did Chris Condo on Friday when the important jobs numbers going to come up we're going to get a couple of kilometers and that's a very big wig department look at -- the good about it and he -- this morning at fourteen point one. Doubts -- 143. Nasdaq's up 32 point native a lot of it's because oil was down we've got to world almost nine dollars or 735 and and specific goes 400 that's going to be very big psychological break for the market and I think that's what some of the optimism that at this point also gold get walked. I don't 36. Down 36 right now less than 800 --"

Play from 2:15[2:15]" while it looks like ghost off is actually helping the markets."

Play from 2:18[2:18]" You know it's interesting because hurricanes are using good metaphor for the financial markets but. When they become reality yarder actually opened a lot this morning I think there are few things that we're seeing in. We saw that will prepare for evacuation particularly yesterday that Republicans. You know get you to be holding back in the celebration. Hopefully we'll see what that happens now that when the party continues. Also we're seeing this sense that the opposite not going to be a second ticket the warlords with the caveat I would say that the caveat on both sides of every equation. There's three -- of the -- apparently group we've got. -- I'd and then number and I get whatever the -- or whatever so let's do what happened this could be a very interestingly."

Play from 2:56[2:56]" Okay anything else going on quickly."

Play from 2:59[2:59]" We dimension of Prime Minister that that we're seeing worldwide problems could happen right now that's what commodity prices going down google's got into chrome and it's going to be their new. Compel competition because the Microsoft explorer Lehman Brothers which like that may get some help this morning. On the interest in the Korean development that may be putting it as much -- six billion dollars that'll about."

Play from 3:16[3:16]" Okay Dave thanks so much and we'll talk to you later."

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[1:09]..." year. And of course it's commodities could keep on track to -- oil prices up 46% the Dow Jones AIG commodity index up almost 47% gold up 11%. And the dollars down but five point 6% as we tend to lose about a percent a month and that's that contribute unfortunate to some of these oil prices. So far despite July 4 shortened week this week we got a lot of data come to market would get the purchasing "...

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[0:59]..." going to be on Wednesday. The liberty here by the industrial production housing building permits and consumer sentiment and also a lot of that speaker so are going to be a lot of listening there to see what happens for the week. Earnings were to hear a lot from retailers so Wal-Mart TJX Macy's or are also going to hear from. Applied Materials and a -- so they keep her going out and finally I was afraid that this market because we -- FedEx about. And talked and lowered their outlook because of the oil prices and less demand for packaging should all we're doing okay this morning about -- carry over their. Even with the the earthquake in China the market's going to be holding up pretty well so the -- up three point two -- at 31 this -- that aspect of four point two -- Our oil prices got about a -- and a -- two 124 plus analysts liquid gold on around six bucks. "...

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[1:59]..." also. They got hit pretty hard put it down 92% on the net income. Ultra two through the -- but he did mr. estimates and they're not getting the rise in chicken they thought they would because an -- tend to -- a little bit more. But that it was on the Caruso menu. -- net income up 9% revenue one point 14% they beat their earnings and guidance was higher speeds of their stuff to. -- what I "...

[0:37]..." down. About seven point 3%. If you went overseas and put the heat index traded hip artists that -- fifteen point six there. If you own the broad bonded -- went -- Brothers Europe about pretense of a percent to make a little money there. It make it more commodities because the Dow Jones AIG commodity index -- up over 10%. We will still a 28% multiple at present the dollars that about 5% so we got "...

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