Source: Dave Caruso's Before the Bell

“…that's the highest -- five years and that's what's got the markets spooked a little bit this morning so. Even after that 300 point coming to market took yesterday kind of an anticipation this. Apparently somebody saw it coming in in the slide continues a little bit this morning although it's easy a little bit here from. All the -- in the last week we were talking about commodity and oil prices in the market was going down and we -- which start this week with that now we're starting to realize. Why are …”

“…right now because the Dow down about 73. Net tech that's seventeen oil prices earlier doubt about it diamond and gold again when times are difficult that -- goes upwards of fourteen and Africa it's 17 …”

“…it was separate companies so we'll see -- that flies on Wall Street also -- getting any help from -- their net income was -- 59% and it's -- interest rates Bank of England is -- 5% you're patrolling the fourth quarter percent and the changes that. …”

“…over the best and -- So maybe there's at least some good back to school sales there. …”

“…break that trend at this morning. A little bit more weakness despite oil prices and commodity prices going down they were going to get a look at. Some of these auto sales in the factory orders and expecting a whole lot there that's my speaker welcome surprise. -- to a couple local economies are …”

“…it was up about 3% so they're showing a little -- profit margins were kind of in line with expectations maybe about a penny short so stocks ought to be at this point. Costello they cannot choose to do 9% up on their same store sales total sales of 12% but also an awful but this …”

“…to dip back to reality so that. A basket of goods the Dow Jones AIG commodity index is only a two point 66%. Oil still up 40% about the 60% we're talking about not long ago and that the dollar actually up for the years so that's really what's hurting them more than anything else so this week a lot of stuff to look at include. With the construction and spending in manufacturing in autos sales and factory orders and productivity and service sector reforms a lot of this is coming. And it's also the crews did Chris …”

“…first day of September -- make at September 2 but. Of course Wall Street closed yesterday for Labor Day so four -- of the market left ago why don't you give us the year to date …”

“…another real seasons sat next week both of them and for the stock market. . When all the analysts get back from the vacation but all all. The market -- actually had a pretty good -- even …”

“…past few relatively speaking it's been growing at about two and a quarter percent over the last four quarters and then that even includes. And negative quarter in the fourth quarter of last year. And it …”

“…Yes we have in the stock market has experienced this typical light volume this -- not pre Labor Day. We also have to recognize that the market -- for the past five trading days. And even slightly on Capitol Hill over a 119 -- a barrel on today is being likely ignore. -- it is believed to be mostly hurricanes and stop …”

“…report yesterday it felt like that DEP. Report that. And even on Wall Street right now. There's not so much Serbia situation as it is really that much better. But the the rest accelerated deterioration in …”

“…although prices were a lot lower approve it does bring out failed mortgage applications and picked up the dollar is stronger. But he had to think thing about the data for the last several days visit that is the most of it's been relatively neutral. Sort of like a tie game there's been no definitive bad old good news is that if you go back several weeks. You know despite the volatility it would observe in the stock market the last several weeks. The market has really been treating. Within a relatively narrow range all -- up what's gone up has come down. What gunned down at -- back up again there's really no real nutrient …”

“…week. A couple of things number one they had been poor's cut Freddie Mac and Fannie Mae's credit ratings on the -- subordinated debt debt issues slightly. -- little bit of a lot surprised given. Freddie Mac success than in floating its two billion dollars dead issue yesterday. And yet yet he also announced. That they have a problem …”

“…but -- that soap -- does indeed continue. Share prices surprisingly that Freddie Mac soared yesterday about over seventeen. Percent or 48 cents a share. And -- any may have significant out of went up three point eight the and -- part of the reason for that is that 82 billion dollar look debt sale yesterday Freddie Mac was. Completed. And which is an indication I think. The Wall Street is not totally convinced that but either organization has -- need to be bailed out by the government. They both need about …”

“…whale. And we just signed up the last twenty minutes as the Consumer Price Index. . Nationwide. Was just released. And that's shows they record drop of about sixty and cast -- present in them in home prices …”

“…open exchange of ideas. But the debate all whether the focus on interest rates and inflation continues and as a result that's causing people to be a little bit concerned. Well all as to which side of the table that that it is going to come down on. In a nutshell. Some people say that the Fed had to do what they did in order to preserve sanity in the market. Because of BS and -- that would raise the risk for the stock market and rattling too much people on the other side of the table say. No. What what other problems exist -- inflation if someone else's job and the only thing the Fed should be concerned about as inflation so therefore -- we should raise interest rates. . Personally I think the -- has -- a great and keeping people employed as far more important than appointed to want inflation. And be the last point of respect for the Fed debate is that slow economic growth does not 'cause big inflation so I think the it is cynical. …”

“…that have been showing at Saint Paul. But on the whole the housing market is not what we're going to be finding a lot of exciting news you know for quite awhile. Which is why I think analysts have to move on from that focus. Because we're not going to have good news in the housing market for quite awhile and so waiting for good news is that an equivalent waiting to win the lottery to pay your bills. …”

“…Talked to watch you gotta watch any may have Freddie Mac and obviously now you have to watch Lehman because -- will be is that what they do will be signals before. What's happening in the market in general got a -- to oil stocks and interestingly you should keep Verizon Verizon Communications because they have a deal just about worked out Google. That Google is going to be the default search -- on all Verizon devices. And when he -- things stock that people should look at not only for the stock itself but the implications for …”

“…out -- which is which we don't know -- having problems on Wall Street and could be the next biggest -- …”