Coffee Futures Down on Brazil's Increased Rainfall

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Oct. 29 (Bloomberg) -- On today's "The Roundup," Adam Johnson, Matt Miller, Alix Steel and Olivia Sterns wrap up the day’s top market stories on Bloomberg Television's "Street Smart." CIO and Chairman of Ritholtz Wealth Management Barry Ritholtz also comments. (Source: Bloomberg)

Tomorrow's open, kick it off.

I am going to talk about retail sales, they rose last month, once the slumping auto dealer was taken out of the equation.

The drop in car sales was the biggest any year, they had been humming along.

Retail spending this month may show consumers staying cautious because of this 16 day government shutdown.

Although i would say probably that is mostly government employed consumers, right?

There was a survey of consumer sentiment showing that it fell to a 10 month low.

But that probably includes a lot of government workers.

Consider the fact that government spending accounts for 22% of gdp.

Some are broader than that.

A lot of them are consumers.

People that make 100,000, 120,000 in some cases.

You are looking at the broad society of people just being so frustrated with what is going on in washington, d.c., the republican party -- does that make people stop shopping, though?

It is a survey, not let me see what you are doing, it is tell me what you think.

When congress is at a five percent approval rating and you ask how it makes people feel -- i get it on the confidence index, but if you need to go and buy a car, assuming you are not for load and wondering where the paycheck is going to come from, you do not care about the same old infighting that has been going on forever.

This was a whole different order of magnitude, the first government shutdown in 17 years.

This was just a whole different level from what we are used to and it does not take a lot around the edges to trim a little bit of retail sales.

Maybe you do not shop at department stores, but maybe you pick up a cup of joe, that is where my story comes in.

Wet weather could mean a bigger prop -- bigger crop yield in brazil, the world's largest grower of your favorite team.

We had a sam paolo-based -- let me try that again -- what does that mean?

It is a mecca for everything you need in brazil.

They may collect a record profit in 2014 after this year's "perfect growing whether." looking for global productions to exceed demand for a fourth straight year.

Your cup of joe might get cheaper.

We have been hearing that from green mountain coffee, who said that it might perhaps help their margins.

39% is where the margin comes from.

Even starbucks cut the price of their packaged come -- packaged coffee, did you realize?

It seems more and more americans are turning off coffee and energy drinks on the one hand, and then look at starbucks again.

It all depends on when they buy their coffee, right?

Also why they are trying to direct the source.

Starbucks is looking at costa rica and other areas in columbia , avoiding the whole futures market.

Espresso is what i drink.

Probably why i get kidney stones.

[laughter] something you never wanted to know about adam.


I would put an end to this.

I am just saying, i am living proof.

Good for your brain.

Ready for this one?

Kidney stones might not be hard to believe, but this one, lloyd blankfein telling employees to take a break.

Goldman sachs is encouraging junior investment bankers to skip working on weekends.

This is sacrilege.

This is part of their junior banker task force initiative.

Trying to improve analysts work environment and career development.

Wall street firms are, well, trying to work against guarding recruit getting poached by the competition.

What do you make of that?

I love this.

He told employees that you have to be somebody that somebody else wants to talk to.

Analysts had to be reminded to that they wanted to view worth talking to, pursue interests out of finance.

This comes after that analyst died in london, working three nights straight he actually died.

Lloyd blankfein pointed out that he himself was a history major and his predecessor was a history major dashing was major.

I think they pointed out that a lot of people do not want to talk to goldman sachs junior bankers.

I think that this is a test, guys who take off the ken's get fired and the guys left get promoted.

But they also got away with the two-year contract, which is interesting, when you want to keep your talent by would you do away with context?

That is because they want to keep them forever.

They are saying that you are here as a permanent employee.

I am going to pay you a little bit less, we are going to throw you under the bus if we ever get in trouble.

I am a private equity guy, work for us for twice as much.

Here is the thing, if you stay working at one of the banks you will make a lot of money, but if you go to a private equity shop or hedge fund, you know you're making an ineffective payout, why would you stay at a big bank?

This is where goldman sachs are so smart, they encourage staff to go out to hedge funds, private equity, venture capital, they say we are going to help set you up and fund you and we will be your prime anchor, your prime broker.

When you are successful, we get to share in that.

We all know that stress can kill you, bringing you into the mind frame of all timers.

Want to save your brain?

Try skipping some meals.

Fasting is catching on as a way for people to avoid a bunch of ailments.

Including cancer and alzheimer's. i said it showed promising findings to fasting, which staved off the onset of alzheimer's in mice.

Olivia, this is a horrible idea.

[laughter] an absolutely awful idea and the worst kind of advice.

Let me tell you something, it is just bad news to just stop eating a few days a week.

There is no cure for alzheimer's. the possibility of slowing it down -- recent studies show consumption of a couple of cups of coffee a day actually prevents or staves off early onset all timers.

Earlier we were talking about coffee, every data point that comes out just shows that it is better and better for you.

If you are saying choosing between alzheimer's and kidney stones, i will choose kidneys -- kidney stones.

My grandmother actually got all timers, god rest her soul, and when she found out she started smoking cigarettes because nicotine was shown at the time to slow it down.

Can you imagine depriving your body of nutrients being a good thing?

Bingo, now you are getting to the substance of the matter.

We have such bad diets in this country, if we just fast for a day or two, we do not put the garbage and.

That is how much better we can do, you are probably right.

That is your close, but here

This text has been automatically generated. It may not be 100% accurate.


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