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Welcome to squawk alley for a monday morning, im Carl Quintanilla at the new york stock exchange. The dow and the s p still on track for their worst month since january of this year. Lets bring in citis chief u. S. Equity strategist, along with mike santoli, who joins us at post nine. Good morning to you. Good morning. A lot of discussion about what fridays dramatic mean follows, were not seeing it this particular moment. Was that a one off . Yeah, i think so. Look, the market was fairly vulnerable already when we tracked investor sentiment, we saw complacency coming up, our interstock correla...

Police in jerusalem say they shot dead a palestinian man who drove his car into a crowd of people, killing one person and wounding several others. This comes as tensions continue to rise between palestinians and israelis across the city. There has been more unrest at a site considered one of the most sensitive in the middle east. Emergency workers rushed to treat the people wounded in the attack. The driver rammed his car into pedestrians before hitting others in the crowd with an iron bar. He injured severing people he injured seven people before he was shot and killed by police. It comes to ...

Every one of those industries has their wageses go up less than the overall citywide average. Notwithstanding a 26 increase in minimum wage. And when you look at the net effect on the two right columns, you basically see that for the most part they are negative when you account for and more negative than the adjacent counties when you account for the citywide effect. So, this is a clear case in which there was not a big effect on wages on these five industries from raising the minimum wage in 2004. And, therefore, it shouldnt be surprising that there was no employment effect either. This was a...

Needed to assess in looking at the proposed legislation is would you expect to see the same thing for wages, no real increase in wages and perhaps no employment effect, or would in fact this wage increase to 15 actually raise wages. I just kind of said those things. So, one of the things we did to get at this question was to build a statistical model that models from 1990 to 2012 for every county in california. These statistical relationship between what the minimum wage was and what the average weekly wage is. And we did a different model for each of these five industries. It made sense to us...

That, you know, that the future is going to look different. And i think its going to look less Small Business, a lot bigger business. You know, i dont think that and i think a lot of these people that are going to benefit are, in fact, going to move out of the city and be people that come in from the outside. So, its unfortunate that San Francisco ultimately will not benefit from this rise in minimum wage in a way that we would hope. Thank you. All right. Commissioner toursarkissian. Thank you, mr. Eagan. I have a question about the remi simulation. Im referring to your slide number 19, which ...