Dave Caruso's Before the Bell

Before the Bell 9/4/2008

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Play from 2:19[2:19] ..." over the best and -- So maybe there's at least some good back to school sales there."...

Play from 2:29[2:29] ..." I'll look let's go with the housing you know we've got Toll Brothers that's so high -- they were out with earnings report today and of course not much to be expected revenue was down"...

Play from 3:09[3:09] ..." it was separate companies so we'll see -- that flies on Wall Street also -- getting any help from -- their net income was -- 59% and it's -- interest rates Bank of England is -- 5% you're patrolling the fourth quarter percent and the changes that."...

Play from 0:00[0:00]" And good morning to WBZ financial editor -- Chris so Murray got all right David lot of data let's get to it."

Play from 0:05[0:05]" Yeah we do your post Labor Day it's been that pretty much uncommitted so far so this morning -- we make out to the digestion starts with retailers got a lot of them coming out their sales so far today a little bit mediocre but you know will check -- you have consumers doing it will be later. Are we also got to the jobs data that should the biggest jump in new claims about five week. Up about 15000 to that probably not -- too well for Friday's big over the coming out for the monthly jobs data also kind of a sneak preview the GDP. Comes out and the the payroll service. And they see a payroll estimates increasing about 33000 in the private sector. That are going to be lost so we'll see what happens there as did the right and that's what. Also we've got productivity which is telling us how efficient we aren't making -- doing this stuff that we do at work. There was actually a very nice jump on this revised. Second quarter number was actually up four point 3%. On the -- issued in the original numbers only a two point 2% surrogate for being a little more productive they're also we saw labor costs that about half percent so that's at least pretty good from the labor side believer inflation site. So let's look at the markets that affect this morning a little bit of a retreat on the markets oversee the S&P down nine point one we get the Dow down 85 Nasdaq down thirteen point two. Looks like we got the oil for our twentieth century so one on nine gold looks to be four of four books they twelfth."

Play from 1:23[1:23]" Let's go back to those retailers for a minute David."

Play from 1:26[1:26]" Well it's always start with a giant as we usually do Wal-Mart came out and they -- probably the best numbers on the street which is kind of what they've been as of late so that's kind of a good -- but there's same store sales were up about 3% but again looks like people are still moving in -- it's it's -- disputed the biggest. Is doing pretty well outside of that it was really kind of mediocre we go on down the list receive Limited Brands they met expectations but they were so -- they were down 7% on the same store sales. American eagle's same store sales about 5% they also confirmed on their earnings are we so Pacific somewhere down the death of a 6%. That's not a -- down five point nine. A point 9% excuse me. If they were selling a lot of good jewelry and shoes for men and sportswear pragmatism -- there there's a good covers a fifteen point 4% so the retailers are doing pretty well on that side in the big box and that gap down 8% a little better than expected -- up 13% note over the best and -- So maybe there's at least some good back to school sales there."

Play from 2:24[2:24]" You tell you have teenagers and click -- David just about 45 seconds what -- you have."

Play from 2:29[2:29]" I'll look let's go with the housing you know we've got Toll Brothers that's so high -- they were out with earnings report today and of course not much to be expected revenue was down 34%. But twenty nine million dollars with a loss and unfortunately that's the fourth quarter in a row that they've had losses and they made no prediction for when because interest figures that were actually seeing. The housing stocks characterize those somebody thinks -- the separate and housing area but it's really not their earnings. -- deal if you want to buy Xbox on Friday Microsoft lowering the price -- 199 boxer -- 79 o'clock gravity if you want that Xbox and never got yet. The world's biggest insurance company AIG -- into play and they said we're going to take all of those that us as we have a balance -- and to put -- it was separate companies so we'll see -- that flies on Wall Street also -- getting any help from -- their net income was -- 59% and it's -- interest rates Bank of England is -- 5% you're patrolling the fourth quarter percent and the changes that."

Play from 3:22[3:22]" David thanks so much."

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