Stocks Fall From Record Highs

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Aug. 6 (Bloomberg) -- On today's "The Roundup," Julie Hyman and Matt Miller and wrap up the day's top market stories on Bloomberg Television's "Street Smart." David R. Kotok, chairman and chief investment officer of Cumberland Advisors also speaks. (Source: Bloomberg)

The the -- thank you.

It is time for your roundup, where we bring you the top stories.

Let's get off with markets.

Stocks falling from record highs today.

It is all thanks to the taper.

And a disappointing earnings.

It also, trade data fuelling some worries about the fed the yet again.

All of this is affecting the markets today.

I hear that tapers sound like a worm that you get.

The the new do not want.

-- something you do not want.

And by that, you mean, that the fed will not buy as much in terms of the bond market but there is a perverse logic, because a lot of the numbers that we seek here are better than expected.

G.d.p., manufacturing, unemployment, or they reached new lows for unemployment since 2008. you should cheer that.

I am ok with tapered coming sooner than later.

Why aren't they?

Correct i don't know.

The what investors do every day, it depends on what they eat for breakfast.

The deficit was $1 trillion and the fed was buying $85 billion per month and the deficit has been cut in half.

That is where it is.

The bet -- the fed buys half as much.

Isn't that an equilibrium?

Did we really withdraw the stimulus and everything?

We have shuffled, is what you're saying.

Yes, and the amount of the debt is being reduced.

It is funny how you are saying that taper does not need to be doing what it is doing in order to get the effect in a real-world basis.

I don't think so.

I think the fed could taper without a shot.

Wouldn't that hurt public relations?

Now you are saying the issue.

After six weeks they spent time trying to put it back together.

They want their cake and eat it, too.

But they say one thing one day and another on another day to keep people guessing.

I don't think they've do that purposely.

-- that they do that purposely.

There are two issues.

What is the policy?

We are not sure.

And who is going to make it?

-- who is going to make it next year?

That is now a big deal.

70 stocks traded shares, closing in the red.

-- sonny hill's stocks closing in the red.

Apple ownership of the tv and music unit is integral for sony posies turnaround strategy.

-- bersani's turnaround strategy.

. for sony's turnaround strategy.

They talked about here -- and this is one of my favorite corporate words -- synergy.

They want to focus on that between entertainment, consumer electronics, etcetera and then we know this was coming back -- this was coming?

He is up against cultural difficulties with sonny, right?

And george clooney coming out and saying what he did.

He is very influential in the investor world.

It [laughter] all of the big brains are getting involved.

Brains is a curious choice of words.

Dan loeb is not the only one who is disappointed with what happened today.

Ibm is upset with the computer.

Forcing employees to take reduced pay as a cost-cutting measure.

Demand for servers and other hardware is slowing.

" they're trying to make sure to suffer, but there are mandating that some workers take a week off and it will not be paid.

If you were an employee for however many years, and forcing them to take a vacation and then expecting them to come back to that job, the the -- yes.

This was done more frequently with the auto industry.

You see slowing demand and you have to take measures.

Would rather take a week off without pay and have a job to come back to or be laid off entirely?

If i'm going to take a pay cut, i would want a week's vacation.

That is really what it is.

That is a good way of putting it.

German factory orders are up 3.8%, the most in eight months.

It is a promising sign for the region's biggest economy.

It is one month before the angela merkel faces reelection.

You spent a lot of time over there during the crisis.

It is not totally fixed, but what do you think?

I once wrote an optimistic book about europe.

It was my worst seller.

But recently, people have been sounding optimistic about the european economy.

Let me make the case.

The case if, merkel wins.

The constitutional court of germany comes back, and powers the european central date -- bank to begin buying debt.

And we get a shot of stimulus finally.

Because europeans are buying and not us.

Exactly.

Correct -- the ceo of cbs sent a letter calling the proposal to offer the channel a la carte nothing more than an attempt to muddy the waters.

He said he was surprised to see the open letter extending an olive branch.

They have not spoken in more than a week.

He called the communication of unexpected and unwelcome.

Negotiations have broken down.

The question is, will they resume in time?

Can you imagine how many people will not get their fall shows on cbs?

What are you talking about?

It is the most watched network.

Correct that -- that is right.

I cannot think of anything i watch on cbs.

Everything i watched it on netflix.

It is on itunes.

I am 40 years old, so if i'm the future -- what is coming?

Time warner cable he said it would offer.

Oligarch and cbs said that it insincere.

@ u.b.s. notes -- offer it all carts and cbs said that it was insincere.

Cbs wants to get paid for the digital content.

He figured out how to get people pay for content.

If we could just figure how to apply the same model, maybe we will get there.

May be.

Correct that is what the "washington post" deal is all about.

Learning what people read, so you know something about the user.

Now you have identified their interest.

Now you will sell to them.

That is 100% correct.

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

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