Jul 28, 2014|
Automatically Generated Transcript (may not be 100% accurate)
Chills less and yours with CBS news senior business analyst and host of Jill on money Saturday's four until six on WBM morning Jill good morning. Last economic the last for summer really and it's only I know you can just turn off after this week that -- -- -- -- -- go to the beach relax you know OK so we got a huge week this week. We got a fed meeting and were brought against the united ten billion dollar reduction in bond buying down to 25 billion. We've got a report on economic growth in the second quarter from her first court with really -- as we had really really awful weather. We saw the economy shrink by two point 9% in the second quarter were hoping to see it recovery two maybe three and a half percent growth. And then Friday we've got a -- to -- I mean there's so much stuff going on. All last week the market continued to show resilience as -- earlier reported. Despite a series of worrying global events though this is open norm is that when it comes to global incidence investigators always have nervous. Yeah -- so amazing to consider that the everything that's going on in the world and mark are. Much unchanged since that that for sort of horrible Thursday were -- lot of things are happening at once. So I would say yes that right now investors say okay things in Gaza that's just an awful situation. But it doesn't really affect stocks are global economy. And while things in Ukraine quick. Expect the global economy they really haven't done so because the global oil this really uninterrupted in Russia shipping oil to Europe and Europe is not doing anything that's going to upset that. So as a result that the investors are looking at what's going on -- saying horrible stuff. Not a big economic impact. Okay what about the Fed meeting this week when it likely to do well you know in addition to that bond buying here's something that's really important to know press conference after. So we're gonna look at that accompanying statement that the Fed releases and I'm going to I didn't get my -- decree ordering out of that figure out what it says that would tell you. That the most important part of it is going to be at its view on the economy. If the Fed says economic growth is picking up and things are really looking good for the US. That's gonna be a warning sign to investors that maybe -- that would raise interest rates sooner than expected right now investors think it's gonna happen. Probably within the first half of next year but more towards the middle of next year. If it's going to happen earlier in the year that could be bad for stocks. They wanted to ask you one Marcos Zuckerberg -- goes to the bank to cash each paycheck that they ask of you wants that in small bills like. One thousands yeah I'm sure they you. I -- he is fast becoming one of the richest guys in the world but yeah point six billion dollar payout -- -- Yeah I mean look it's pretty awesome what he has done that company if you recall two years ago during the IPO -- -- it -- he's he's just not accurate up to run speak publicly traded company. Two years later at the stock is you know really basically doubled -- really gone on to then do some terrific acquisition. And the guy seems like he knows what he's doing so there may be -- impact to business about him an email be very jealous and he says yeah rich but. So Parsons paper based but shareholders. OK to have a good week -- paid by the way birthday boy what are you doing that in the bank -- -- Ebert they tax I'm trying to drew as my daughter to Mark Zuckerberg had. A very laudable goal like that and that. It's that deal with you later take care -- -- your CBS news senior business analyst.