Rest of the stock market. With the nasdaq adding on 11 points the s p 6 gold dropped by 5 dollars. And oil is trading back bellow 100 per barrel. In earnings after hours. It was a big night for weight watchers. The stock pumped up 13 as the Company Reported a slim down in earnings, but the outlook was better than expected. And la clipper chippers. Media mogul Oprah Winfery and oracle Ceo Larry Ellison are on the list of potential buyers in the Los Angeles Clippers in the wake of the teams ownern Donald Sterling being banned from the nba for life following racist remarks. Here we go with trader bob iaccino, chief market strategist, at tethys partners. Good morning. Lets talk about market reaction. Lets. The stock market is reacting already to the fed and gdp. Now today we have the ism number coming into the market. What do you anticipate . I think well be looking very closely at the jobs number. Yesterday at the close of the fed meeting, you saw very little reaction and very little change in the statement. We closed at a record high and i know people like to get excited about that. I get excited about it too. But you have to realize that the month yesterday basically closed slightly up on the dow and slightly up on the s pboth less than 1 . The nasdaq was slightly lower. The record doesnt really mean that much in peoples portfolios and i think it has to be looked at in that vein. The ism number while important, when its inline with the non farm numbers the way it is, its really going to be shrugged off. As far as that jobs number, are traders likely to sell on a good number or on a bad number . Thats an interesting point because lately the really good numbers have sort of been a sell signal because theres anticipation that then the fed might somehow speed up the tapering of its bond purchases. I think in yesterdays statement we saw the status quo. We saw a much slower batch of numbers prior to this fed meeting so i wouldnt necessarily think that 1 or 2 jobs numbers is going to have that happen. If that happens in the s p, that might actually be the opportunity to get in and ride that rollercoaster up through new record highsnot the ones we got yesterday but brand new ones. Bob thanks for coming on the show. Thank you. Chuck coppola joins me know with more on what the fed says. Good morning angie. Traders are reading between the lines as they anticipate the next move by the central bank. Yesterday, the Federal Reserve wrapped up a twoday meeting. Itll continue with its taper timeline, reducing bond buying purchases by 10billion dollars starting this month. It noted Economic Activity has ticked up after a sharp downturn this winter. The big question that remains. When will the fed raise Interest Rates . Traders say. It depends. I look at this being a day by day scenerio, with jobs obviously leading the way, Inflation Expectations leading the way, Financial Market volatility leading the way. As long as those three things fall into order the way the fed wants them to, the fed may be able to raise rates as soon as mid 2015, but i cant sit in this chair today and tell you thats what im seeing right now. That was todd colvin of rjobrien who expects the taper timeline to continue at 10 billion dollars per month, but says that could change given any bumps in road ahead for jobs, gdp or manufacturing. The economy failed to pick up steam in the First Quarter, and instead sputtered through the winter months. The advanced look at First Quarter gdp shows meager growth a. 1 , economist predicted 1 . Juli niemann, executive Vice President of research and Portfolio Management of Smith Moore Company is on the line with us this morning. Good morning juli is the weather to blame or is something more happening . Angie there are no easy answers in this business but this time there was an easy answer. It really was all about the weather. No one buys houses, cars, easter bonnets or anything when the polar vortex is in place. There is some underlying weakness in the economy but at least its moving ahead in the same direction and the right direction. Were looking at the 2nd quarter and seeing a rebound. Largely its going to be in homebuilding and personal consumption. Businesses will continue to invest. So look ahead because the news is getting better. Were moving from a snails pace to a turtles pace. Thank you julie. You bet. Fannie mae and freddie mac are not sturdy enough to withstand another severe downturn in the economy. Recent stress tests by federal regulators reveal fannie and freddie would need another 190 billion dollar bailout from the government if the economy collapses. The rebound in home prices is boosting fortunes at fannie and freddie, which have returned 203billion dollars to the treasury. And both are expected to remain profitable. Under the terms of the bailout, fannie and freddie are not allowed to retain earnings, which accounts for the current weakness. Treasuries were a terrific place to park money during the month of april as prices rose and yields fell. Chris gersch of altimus capital has this outlook for what to expect in the month of may. I think that it will continue into may the situation right now wtih the 10 year yield. Gersch tells us his client are mostly going into cash and are hoping to later buy stocks that pay a dividend. The Obama Administration warns the Treasury Department will be cracking down on corporations that are counting on mergers to avoid paying us taxes. Bloomberg news reports the warning follows pfizers 98 billion dollar bid to takeover astrazeneca. Under the deal, pfizer would move to the u. K. And lower its tax rate. Pfizer, is among at least 19 other companies considering similar transactions such as Chiquita Brands international and omnicom group. Its back to the drawing board for senate democrats. A proposal to raise the minimum wage failed in a test vote yesterday. The vote died in a republican led filibuster. Democrats were 6 votes shy of the 60 the bill needed to pass. Both sides of the aisle remain divided on the wage debate. The assertion that boosting the minimum wage would hurt businesses, again, is wrong and it is illogical. Senate democrats are pushing legislation that would cost as many as a million jobs in this country, legislation that the left flank of their party demands. President obama accused republicans of saying no to helping millions climb out of poverty. He also praised lawmakers in hawaii, who yesterday approved a wage hike to 1010 an hour. Prosecutors may soon prove big banks are not untouchable. The New York Times reports prosecutors are preparing criminal charges against french bank bnp paribas and credit suisse. Credit suisse is accused of helping americans avoid paying taxes. While bnp has reportedly done business with countries facing sanctions from the u. S. The bank faces up to 2 billion dollars in fines, according to reports. Neither bank has commented on the accusations. Since the financial crisis, big banks have been considered too big too jail given the fear of a negative Ripple Effect on the economy. Duke energy will soon no longer be the biggest power distributor in the u. S. Exelon corp has a deal on the table to buy Pepco Holdings for 6. 8 billion, making it the top Power Distribution company in the nation. Exelon predicts it will increase sales of electricty by 5 with the deal. Anti trust is not likely to be issue. Exelon already serves customers in maryland, illionis and pennsylvania. It will add on dc, delaware, new jersey and more homes in maryland. Energizer is splitting into two companies. The company, known for its iconic bunny, will separate into two publicly traded companies. Its Household Products Company will split from its personal care company that includes banana boat sunscreen and schick razors. Shares of energizer hopped 14 higher on the news. The split wont be official until next year. Turning to earnings. Phillips 66 shares traded near an all time high during yesterdays session after reporting earning that topped wall street predictions. Hyatt hotels gained 4 after noting a 10 rise in revenue. The chain attributes an increase in room rates and occupancy to growth in Business Travel in north america. Walmart is getting into the insurance business. The retailer is teaming with insurance companies, which will sell policies through walmarts website. So far the service is in eight states, but will spread nationwide in a couple of months. Its the latest step by walmart to expand services. It added a Wire Transfer service, last month. The Social Security administraiton is going old school, by mailing out statements once again. The agency was attempting to gear americans to its website after being hit by budget cuts in 2011. But now plans are underway to resume mailing statements starting in september to americans. The statements will include future estimates of Social Security earnings. Mcdonalds is raising the bar on social responsibility. Executives at the golden arches say the chain will become more socially responsible, by 2020. It says its making changes in five broadlylisted areas. Food, sourcing, planet, people and community. Some of the goals include increasing recycling, adding more Fruits Veggies and whole grains to its menu, and reducing sodium, sugar and saturated fat. Still to come our movie critic is not so hot on the blockbuster thats kicking off a summer of sequels plus. Is china really that close to out pacing the u. S. Economy. And. A rocky situation in Rio De Janeiro. Could it threaten the Olympic Games . Stay with us the 2016 olympics in rio are in jeopardy. Despite this promo highlighting renovations. A top officials with the International Olmpic Committee warns preparations for the games in Rio De Janeiro are the worst i have experienced among the issues only 35 of the sewage in the state is treated, labor strikes and social unrest continue to plague the progress and violence is escalating between police and residents. There are no plans to change the location. In todays cover storythe purchasing power of chinas population is rising so much and so fast, according to the world bank, that it is reaching relatively comparable levels to what americans can afford with their paychecks. By measuring what people pay for goods in their own country against how much they earn, the world bank found chinas population able to afford about 87 of goods and services that americans buy with us dollars. And chinas on track to surpass it. A lawyer might make 12,000 a year but thats ok because he doesnt need that much money. The scale known as purchasing power parity skews in favor of largely poor countrys that have seen see a dramatic rise in wages and the in the value of its currency. China has all three. Ted fishman, wrote a book on it, called china, inc. One really important thing to remember is that the chinese currency is 40 more valuable than it was 15years ago. That boosts purchasing power. While chinas populationfour times that of the us, increases this measure of chinas economic health, it also hurts it by another measureproductivity. Chinas gdp, per capita is 99th in the world. The us 12th. One farmer in america, with a combine and hybrid seed is as productive as 20thousand chinese farmers. Economic analysts see this and call it opportunity. The good news is we have a growing market for the things we make and its currency is getting stronger. In the larger cities, they add a thousand cars a day. They need fuel. Its to our advantage to have a strong middleclass with buying power everywhere in the world. Its worth pointing out that chinese consumers have about onetenth as much money to spend as americans have in their wallets. By that measure, chinas consumers are on par with the philippines, bolivia and iraq. Also, the world banks study does not assess chinas Global Economic strength. In a straight across comparison, us gdp of 17 trillion dollars is about twice that of chinas. Thanks for the report chuck the economy in greece still has a long way to go, but the nations budget is looking stronger than expected. Greece is even predicted to show a surplus this year on the heels of spending and wage cuts. Umeployment however, is still a problem and is projected to remain in the 20 range. Unemployment now in greece is 28 . Coming up. Will investors by shy to linkin as twitter shares lose friends. Plus00. Sequel city an early peek at the Summer Box Office is on tap in movies and money. N fleck, and many actors have played the part of u. S. Servicemen in the movies, but for veterans like james crosby their service and their sacrifice are real. And too often when they come home, their struggle continues. For over sixty years, paralyzed veterans of america has been fighting to help our injured veterans get the benefits they need, and have earned. Paralyzed veterans of america was there for me when i came home. Join me in supporting our paralyzed veterans. Visit pva dot org. The curtain has been lifted on earnings from major film studios this week. Here to screen a couple for us is our film critic erik childress. Good to have you on the show as always. Thank you. Lets start with time warner. Warner brothers movie business specifically noted as helping with double digit growth. What do you think about that . They had a pretty good First Quarter. The lego movie is still the number 1 hit in the u. S. Of the year and 300 rise of an empire ended up doing very well for them. A winters tale not so much and theyre not starting the 2nd quarter very well with transcendencebut the leftover from the hobbit movie. So theyre doing okay. Dreamworks on the other hand had a 57 Million Dollar write down which is just a fancy way of saying we lost a lot of moneyon mr. Peabody. A big budget is basically the cause of that. Its the 2nd big loser for dreamworks in a row with both turbo from last summer and now mr. Peabody. But i think theres some hope on the horizon this summer for them. You are already out with your summer predictions for the box office hits. Heres a look. Drumroll please we have a lot of sequels coming out. We have a lot of comedies coming out this summer. Tammy is Melissa Mccarthys directorial debut. She has been really hot at the box office with heat and identity thief. I think this is going to be a surprise hit coming around the july 4th holiday. A lot to look forward to this weekendor not. The amazing spiderman debuting and you had a chance to screen this movie. What did you take away . I think its terrible. You didnt like it. I think this is one of the worst kickoffs to the summer that weve had in some time. Sonytheyre going to do very well this weekend with this. Its going to come out of the gate running. Im curious to see how fans are going to react to this one. I think that in the long run this might be kind of a franchise killer in a way until they reboot it again. Its that bad . Yes, its that bad. I think fans are going to flock to the theaters to see this one. Theyre not going to be happy with it. There wasnt a lot of positive response from the original film a few years ago so i dont think theyre going to be very happy with this. I think by the time the 3rd film comes out in a few years youre going to start to see the grosses drop off a little bit. Even though theres a 255 million budget on this thing, i think sony is still going to come out a winner on this one but the future looks bleak i think. Lets move on to what happened at the box office las weekend. The other woman doing quite well. Did you see this film . I did see this film and its about as bad as spiderman. I knew you werent going to like it but some of my friends say its really funny and its empowering to women. Im sure all of George Clooneys exes went to go see the film as well. Hey, heyhes engaged. Allegedly. Captain america, heaven is for real, rio2, and brick mansionswhich i hear is one of the worst horror films ever. Is that true . Its not a horror film. Its actually one of paul walkers last films. Its a martial arts film. Its a remake of a much better foreign film called district b13. I recommend people go see that and forget the american remake. Forget spiderman. There are some movies to look forward to this summer but spiderman is not one of them. Erik thanks as always for coming on the show. Thank you. Still ahead after twitters troubles will linkedin be able to post enough user growth . Find out what traders think next in chart talk. Iec and many actors have played the part of u. S. Servicemen in the movies, but for veterans like james crosby their service and their sacrifice are real. And too often when they come home, their struggle continues. For over sixty years, paralyzed veterans of america has been fighting to help our injured veterans get the benefits they need, and have earned. Paralyzed veterans of america was there for me when i came home. Join me in supporting our paralyzed veterans. Visit pva dot org. Matt cavanaugh of cmz trading joins us for a look at linkedin ahead of earnings and matt. Twitter had terrible user growth is that what investors will watch for in linkedin . I do think theyre going to be looking at that. I think thats a big key. You saw twitter actually beat but their user growth was not what the market was hoping for and the stock sold off really hard. I think that is a very important metric to these new social Media Companies and something that people are going to be watching. Linkedin shares rallied into earnings, what does that tell you . Is that a new kind of signal . I dont really know. I think youve seen strength overall in the market and its definitely helped. But this is a stock thats down abo