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WBEN NewsRadio 930>Audio & Video on Demand>>Down Dow No Cause For Concern - Jill Schlesinger

Down Dow No Cause For Concern - Jill Schlesinger

Apr 14, 2014|

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Not our usual time but it is Monday and we always try at least on Monday to visit with Jill Schlesinger the CBS news senior business analyst good morning Jill good morning. Talk to me about the markets we have that Dow down 2.4 for the week. The S&P last week down two point 7%. The NASDAQ down three point 1%. Is this just profit taking or is there something really awful bad. Trending here. I don't wanna say awful or bad and and answer don't wanna take crash service so we get to go and I. This stocks that have been selling off the most over the last six weeks are the ones that had gone up almost a year ago right so. Will we look at the big movers the Biotech -- the social media stocks the big momentum plays that Netflix the -- -- Both the stocks that are getting hit particularly hard. I -- and you know it's it makes sense right because if something's gone up by so much -- could be this moment where investors if you. It's off the table let me shift some things around we don't know how things are gonna go. And that's exactly what has happened if you look at the NASDAQ and the Russell 2000 smaller stocks they're down about 8% from their recent peak. While the broader market only down 4% so. No panic -- I promise that it's really going to be okay fact even this morning we got some great data out of our retail sales rising more than expected. And stocks are pointing higher with the Dow looks like it's -- open up about a hundred points. What Jill with the text option being referred to the most because there on the NASDAQ business -- -- suffering the most because yes absolutely and NASDAQ you know it's interesting when you look at. Some of the components of the Mastec. That's where you're seeing the deepest selloffs you know a bear market we call that more than 20% loss from the recent peak. And the Biotech sector down over 21%. Social media stock sector. Get about 21% of -- bear market. Nothing else's that so ever want to just taken nice deep cleansing breath things are doing okay. Now what about earning season are -- getting good indicators there as well. We just started out and you know these very much lowered expectations on earnings for the previous quarter and a wide because of the bad weather one's gonna say all of the companies could make money could we go out -- -- spend money. And so they're really looking for a much lower profit margin probably maybe and slight drop from a year ago. Now mobile case the companies say that they started to see if pick up toward the end of the quarter. It's not gonna be okay if they start telling as bad news about what they see coming power. Jill speaking of earnings. Should college athletes scoop it like pro players would -- -- I'd love this topic by the way add. Okay here's my idea. I I was a college athlete first and also I should say that I have a vested interest in all of this got to ask you what sport soccer lacrosse OK and I -- you know from my point of view I think that you don't want it you know it's hard to -- them and not distinguish between say a big football program and tiny women's lacrosse program. So I people would be great is yet. The NCAA. Would take up. Pool of take a sliver of the earnings for everyone put it in a cool and create a trust -- -- hampered. Every college athlete in every single college athlete would get. Some sliver of that probably the exact same -- And that we beef up their rules around whether college can actually take any scholarship away if someone gets injured. And we make sure that if he'd get injured while they're playing their sport that they get health care going port. But in the meantime it looks like it's going to be just direct negotiations. Through a union. Maybe for benefits may be for a salary. Yeah I don't see that working overall I -- because here's the downside of that let's say that you had some structure. And it cost universities more what you're gonna. Going to likely dude that is say we gotta pay more money for the so we're gonna cut programs and they're going to have to cut equally because of title nine. And that means it instead of sit at a more robust all encompassing athletic program where some big programs make a lot of money but you can have a fencing team rate at. You know the women's lacrosse team. At we're gonna lose -- -- that we want kids to play sports and politics an awesome experience I loved it. Nothing like that moment where you actually get to play in an NCAA tournament which I did Phillips psyched about that I still love it. And it led -- here today eight it would it got here I didn't go there are certain all right Joseph thanks for that. CBS news senior business analyst Jill looks lessons there.

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