almost 2% in shanghai. the nikkei down 3.3. do the math. that would get your attention. then in europe, they're all up. but not much. let's look at oil. the oil board, that's been stubbornly above 100, but coming down slightly, $104.53. the ten-year, i saw, was at 2.56, almost 2.56. dollar n , if we're going to europe, it's got to come down. the euro, slm 1.43. gold on a little bit of a run. i'm thinking about buying some. >> really? >> because of man q. i read man q.'s piece in "the new york times" over the weekend. he mentioned buffett and all the people that don't like it. just because it's noncorrelated with anything else. he says 2% of your portfolio could be in gold. >> are you going to buy it anyway? >> no, no, no, no, no. >> store it. >> yes. if i could find a place to buy them where i didn't have to buy a big -- not a lot of them, but i'd maybe buy a few of them in case i need to bribe someone in the future for something. >> always thinking. >> for something. i'm not sure what. but if paper money is ever useless. it could be food. it could be passing -- you know

not much movement in shanghai or in hang seng. if you look at oil prices, we have been watching these so closely, hovering around $105. this morning, down by 79 cents to 104.70 for wti. the ten-year note is the other one worth watching, because this has been the tail wagging the dog. yield is 2.58%. it touched 2.6% yesterday. if you look at what is happening with the euro, the euro yesterday up for the fourth time in five sessions, versus the dollar. it touched its highest level since june 19th. this morning, it is trading higher once again. euro at 132.73. the dollar yen, the yen at 98.50. gold prices at least at this point are indicated down, just barely. down by 2.60. $1,326 an ounce. let's talk about starbucks which came in with numbers that sharply beat the street's expectations. howard schultz says it was the global coffee chain's best performance on record. joining us now to talk more about the numbers is r.j r.j. hovotni from morning star. these numbers are certainly something to crow about, the street likes what they're s

half a percent in shanghai. in europe, you will see at this point the dax is up by over 1% as is the cac in france. ftse up by about 0.8%. we do have plenty of earnings news thorn. boeing, earnings $1.67 a share. compared to street estimates of $1.58.thorn. boeing, earnings $1.67 a share. compared to street estimates of $1.58.horn. boeing, earnings $1.67 a share. compared to street estimates of $1.58.orn. boeing, earnings $1.67 a share. compared to street estimates of $1.58.rn. boeing, earnings $1.67 a share. compared to street estimates of $1.58.n. boeing, earnings $1.67 a share. compared to street estimates of $1.58.. boeing, earnings $1.67 a share. compared to street estimates of $1.58.boeing, earnings $1.67 a . compared to street estimates of $1.58.. boeing, earnings $1.67 a share. compared to street estimates of $1.58. also some strong numbers for ford in the second quarter. company posted earnings of 45 cents a share. revenue also above consensus. and that stock up by about 3.25%. pepsi came in with earnin

nikkei up by about 15 points, shanghai com positiposite down . and in europe, things are bury bunchidge there, as well. modest advances. >> today is about the intersection of policy and investing and economics. and no one better equipped than david mccormick, bridge water associates co-president and member of the management committee. he was treasury undersecretary for international affairs during the bush administration. brid bridgewater has more than $150 billion under management and the world's largest hedge fund. thanks for coming in. so we'll hear a couple things in the next frankly half hour. we'll hear from jack lew on dodd-frank and i want to get your views on that but we're going to get bernanke's testimony at 8:30. what are you expecting to hear? >> i think what you're likely to hear is what you've been hearing. if you would step back and said how would we have expected if this was managed well the qe process managed well, how would we sxrekts this had to go. >> that implies you don't think it's being managed well. >> no, i do. i think

you had your own experience with all that didn't you didn't you spend all your money in shanghai more or less. that's why i'm going to spend it now. i'm going to book the most expensive hotels. with the most expensive restaurants. terrible picture. i just like a joke. i don't think so goes a great artist. but i don't think it's a con man award. if you don't like the painting i just don't give anything it's up to the person. i asked him to buy t. for the painting he seemed to understand but then he went away. well. it's a tough job you have to take a risk just to get some food it's not difficult it's just not the way usually do things so how do you do. it together. you have to plan it all in advance friend so you ask me may the board you ask me to make a port that i made that i ask t. for this where is my duty. i made it. it's for gifts not for free. sure you get used to people's attention very quickly the people around me usually help organize it all but nobody knows me so things are a bit different. i don't know what it means to escape from yourself quite the opposite i am trying to

just to get by while travelling in china i went to shanghai i felt i could live there it was the moment the project actually started a russian girl living on the floor below me was going to leave. the one day i came to see her i'm noticed an easel there i was looking for one of the time. so i asked her to sell it to me but she didn't want to do that but it was a friend's gift apparently. that is why i offered to swap for it instead i gave her a painting in exchange for the easel it was my first barter so good when i got the idea to organize it as an art project which is your job. i started to get letters from each. one of them was from a couple that was going to get married and want to back kind of portrayed as a wedding present for themselves. but i had already left odessa so they're asked if i could do it over skype you know yes yes they told me they could give me all i need for my travel in return. so i asked if they could pay for the tickets from adesa to stumble they agreed and as a result we had a skype portrait session now and waiting on the tickets. if i decided to take annie as

the response, of course, still to those fed comments, giving a lift to the shanghai composite, up better than 3%. 2% for the hang seng. nikkei adding a little as well. given the strengthening of the yen, a sign of progress, a welcome sign, you could say. the european market, ftse 100, up .7. better than 1% for the xetra dax. >> you can read either one there. when i read this, they walked in feeling strong. and then within two days, going, no, i don't know about -- we can't -- the 85 billion -- what if we do -- none of them had any -- do they? >> i think they need to let the economy react. the economy is like a 12-year-old on a bike with training wheels. we can just -- >> you got a keynesian on steroids here. you think there is not enough ink and paper in the world. >> monetary policy has not stimulated the economies of europe or japan or the united states. >> she's glaring at you. >> i think it felt evident. it doesn't take much to look around the world and see who is being accommodative, in response to what conditions and what are the markets and economies doing in turn. >> will we ever

that's giving a boost to the stock markets in hong kong and shanghai, though a different story for the japan benchmark index after hitting a new six week high briefly, the nikkei closing down 56 points following trade results from china. also fed minutes will be on the minds of investors this morning. minutes from the latest policy meeting out at 2:00 p.m. eastern. traders looking for any further clues on when the fed will begin to scale its bond buying program back. and we'll have more coming up on that with chief economist and managing director of global research. checking europe, right now red arrows across the board there, as well. cac off, ftse off, and the dax off. but not horrible. and brent pushing above $108 as china's imports of crude fell 7.4 7.4% from the previous month. the spread between brent and west texas intermediate narrowing slightly making wti more attractive to investors. >> blackberry is reportedly going to cut more jobs. "wall street journal" says the new cuts will come at middle management levels in the sales and support divisions. that would be on top of 5,000

shanghai down 2.4%. in europe, though, you do see a lot of green arrows there as well the biggest gains coming from germany. the dax is up almost 2.4%. the footsy 100 is up by about 1%. we're kind of bouncing off of what happened on friday when we got that better-than-expected jobs report, that did send stocks higher on friday. ilt it fueled the tapering. doin joining us is dean baker. also, tony fratto, managing director of hamilton play strategies. tony, i was a little surprised when i read through some of your notes. it sound like you are worried the fed could pull the rug out from unthese markets too quickly. >> i have felt this for a while. i have been surprised about the rush to get into talking about the tapering. i have been saying this. i feel like if there is any risk of us, a lot of people talk about america is turning into japan because of what the fed is doing. i don't think it's a real parallel. one parallel i worry about is the choking off of, you know, organic growth, getting to organic g

the shanghai markets are all ending higher. the nikkei actually closing at its highest level in a month. you see it up 1 and a quarter percent. european shares are higher as investors digest a slew of numbers coming in, the including the latest figures on manufacturing and employment, investors are focusing on the manufactured pmi. again, if you take a look at the european markets, you will see the dax is up .3 of a percent. and the kak is up by .7 of a percent after closing at its worst quarterly drop, gold is bouncing back this morning. it's helped in parts by the san francisco fed president john williams. on friday, he said he is backing off his view the fed should start cutting stimulus this summer. you are right, backtracking on all of this stuff. gold is up by about $15.16. back to $1,042 an ounce, gold is taking a toll on investors in david einhorn's green light capitals. that fund was down nearly 12% in june. it's down about 20% for the year. >> here in the united states, despite shortened week, on once, adp is out with