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Bulls & Bears
This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital; Eric Bolling, FOX Business News; Pat Dorsey, Morningstar.com; Matt McCall, Penn Financial; Marc Lamont Hill, Ph.D, Temple University.
Trading Pit: Walmart Warning: Could Dem Election Victory Hurt Business?
Matt McCall: Walmart hit it on the head: if the Dems are in office in November, big business is in trouble. It will increase labor costs which is bad for the economy.
Gary B. Smith: I'm all about the data. The most heavily unionized sectors, like government and education, are inefficient. Sounds like there's a correlation to me.
Marc Lamont Hill: A labor union revolution is needed in America. If Walmart increases the price of a pair of socks by one penny, that would equal an $1800 raise per employee. It's not that dramatic if Walmart unionized.
Eric Bolling: I don't like unions. But there is a silver lining for Walmart: Dems in office = minimum wage going up and then prices would go down. That's good for the Walmart customer. If a Dem gets in…I'm moving my money into stocks like Walmart and Costco.
Pat Dorsey: This is a tempest in a teapot. Walmart is anti-union: no news there. Unions are going to continue their downward trend. It's not a big deal.
Stock X-Change: New "Bull Market" Leaders!
Click here to see the entire segment.
Gary B. Smith: Fedex (FDX )
Eric Bolling: Flowserve (FLS )
Matt McCall: Genco Shipping (GNK )
Pat Dorsey: Wellpoint (WLP )
Congress Goes on 5-Week Vacation: Will It Bring $5 Gas?
Matt McCall: Congress leaves us high and dry again. In my next life, I want to be in congress. Something must be done. High Gas prices are great for the Dems.
Marc Lamont Hill: It's a mixed bag for me. I'm happy about not getting a vote on drilling, but unhappy about no vote on windfall taxes on oil companies or encouraging energy efficiency.
Gary B. Smith: Marc baffles me. I'm a big proponent of Congress doing nothing because it lets the free market work. Congress is preventing the free market from working by not allowing companies go off and find new sources of energy.