Motley Fool Money: 09.05.2014
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Everybody needs money.
That's why they call it money.
From Fool Global Headquarters, this is Motley Fool Money. It's the Motley Fool Money Radio Show. I'm Chris Hill. Joining me in studio this week from Motley Fool One, Jason Moser. From Motley Fool Supernova, Matt Argesinger. And from Million Dollar Portfolio, Ron Gross. Good to see you as always, gentlemen. How are you doing? We've got the latest results for restaurant stocks, health stocks, tech stocks, and more. We will answer your questions as we dip into the Fool mailbag. And as always, we'll give you an inside look at the stocks on our radar. But we begin this week with the big macro. The U.S. economy added 142,000 jobs in August. The unemployment rate fell to 6.1%. And Ron, when you look at the reaction on Wall Street, this seemed like one of those meh jobs reports.
It was a little seesaw-y. Before the market opened, we got a pop and then it kind of went away. I don't think these numbers are great. I mean, it breaks the streak of six months of 200,000 jobs created or more. So that's not great. However, it's just a month. I don't think anybody's panicking over a month. We did create jobs. The unemployment rate did tick down. Those are both good things. I think a lot of traders are hopeful that this means we get a little bit more leeway in terms of easing from the Fed and that interest rates will stay lower for a longer period of time. But I really don't think the Fed is being influenced by one month of data. It's just one data point, and I don't think it overrides all the other data we have.
All right, let's get to company news, and we'll start with the biggest public company of all. Apple had planned to spend this week building buzz for their event on September 9th, when they will unveil the iPhone 6 and the much-rumored iWatch. But instead, Apple spent the week mired in the celebrity photo scandal. CEO Tim Cook said that iCloud accounts were compromised, but that none of the Apple IDs and passwords leaked from the company's servers. And Matt, he was kind of doing a balancing act. I almost felt bad for him, because on the one hand, he had to acknowledge the problem here, but he also had to deny that they were taking any sort of a lax approach to security.
Right. I mean, ultimately, this is about just assuring people that if you buy an Apple product, an iPhone especially, that your username and passwords are going to be secure. The ultimate question here, does any of this, do the celebrity photos that have been spread around, that have been hacked, Is that going to prevent people from buying Apple products? In my opinion, no way. I mean, I certainly don't have any nude pictures in my iCloud, at least I don't think I do. And even if someone hacked in right now and stole a bunch of those pictures, I still love the iPhone product and I love the Apple products. It's not going to prevent me or any of the average Joe from buying.
I completely agree with that. I would like to see how it does shake out, though, because we're still a little bit fuzzy. It wasn't the iCloud. It was the iCloud. People were perhaps victims of phishing attacks and are themselves in a certain way to blame for themselves getting hacked. I would like to know exactly what's going on, because as they implement new security procedures for iCloud, it certainly seems that they are recognizing vulnerability, but yet they're claiming it wasn't their fault.
Well, and Jason, if the reports we're seeing about what may be included in the iWatch are believed, one of the features may include the financial sector where people can use the iWatch to hook it up to their credit card accounts. It seems like they're just bringing more and more data into their devices.
Yeah, there's no question. We talked about this earlier in the week that I think These are the kinds of things that will help dictate how consumers pay for things. I was using just myself as an example. More and more of these stores that I go to, I don't want to use my debit card anywhere anymore because if that information is compromised and someone gets a hold of my checking account, they can drain that thing and then I'm stuck in a cash crunch.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–5:20
2
How did the August U.S. jobs report affect market sentiment?
5:20–8:55
3
What happened with Apple and the iCloud celebrity photo security breach?
8:55–15:29
4
How might an Apple iWatch change consumer payment behavior and security concerns?
15:29–26:32
5
Why is CVS rebranding to CVS Health and what are the business implications?
26:32–35:26
6
What caused Yum! Brands' China sales decline and what does it mean for the company?
35:26–39:10