Good friday morning. Welcome to squawk on the street. Post 9 this morning. Jon fortt has the morning off. Watching the markets closely, the u. S. Employee number, 178,000 new jobs in november. Thats according to the labor department, almost in line with estimates. The Unemployment Rate ticks down to 4. 6 , the lowest level in nine years. Hourly average earnings falling 0. 1 , the final number before the meeting this month. Mike, we took your temperature on it. We talked to jan about essentially what hes calling full employment and whether and when wages catch up. Thats right. Basically its the economy we thought we had, the labor market we thought we had coming in. The market maybe dodged a slight bull net the sense it cements the certainty about december and what the fed will do. To on the wage front, i feel like the market is not getting too concerned about that mostly because the mix is probably partially to blame. So in other words, a lot more younger workers, fewer Older Workers t
Acres and continues to rage. The cooler temperatures and light rain have officials feeling more optimistic they may get a handle on the devastation in the oil stands region. More than 80,000 people have been evacuated in Fort Mcmurray. Officials say theres no timeline to return residents to the city. Its a pretty horrible devastation thats taken place there. Homes have been lost. But again, people evacuated and are out of the way. Oil prices are reacting as the wildfire has knocked out a Million Barrels as a result of the fire. Bp and oil firms warn they cannot deliver on certain contracts. Wti is up over a dollar gaining 2. 25 . And more big news over the weekend. Saudi arabia replacing longtime oil minister ali alnaimi with Khalid Alfalih, chairman of aramco. They are planning a threeway listing in london, hong kong and new york. The company is valued at more than 2 trillion. John kilduff is here with us. We have gotten so used to this guy, i thought it was an aappointment for life.
Putting Jeremy Corban in as their leader. Looking forft and radical economic changes there. The dax in germany is 15 points lower now, just under. 2 . Everybody watching the dollar. The dollar index is lower this morning by just. 1 . The u. S. Trade weighted dollar is something we need to teac kep an eye on. The fiveyear going for 1. 5 percent once you rounded off. The twoyear is at 71 basis points. Topping the list of things were watching today, volatility. The vix fell. Volatility lower this morning despite the fed ahead. Congress is back trying to find a way not to shut down the government in two weeks. Last shutdown hit the economy hard. China, more weak economic data. Credit is growing there. Tom sees may be tiny green shoot out there . Tom yes. A little bit of a green shoot. What an ugly win for the Denver Broncos. That was terrible. We enjoyed the mets, and still managed to pull things out. Wonderful worda for our sponsors and then i will pull up a chart. Bloomberg surveillance
Help them to see your glorious image in humanity and search for opportunities to empower those on lifes margins. Lord, inspire them to trust the unfolding of your loving providence, so that they will not become weary in doing what is right. May they live with such integrity that your purposes will be accomplished on earth, remind us all that it is in giving that we receive. And through dying to self we are born to eternal life. We pray in your great name. Amen. The president pro tempore please join me in reciting the pledge of allegiance to the flag. I pledge allegiance to the flag of the United States of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Mr. Mcconnell madam president . The presiding officer the republican leader is recognized. Mr. Mcconnell there are a lot of reasons to like the broad Bipartisan Energy bill which is before us. Youll like it if youre an american interested in producing more energy. Youl
Us today. This program took place in santa barbara, california. The good news is before we start talking, we have another one of those videos. This one is about the private sector and how reagan speech is still applicable today. Videos onre these campus with your friends and put them on facebook. Roll it. Business, you a did not build that. The full power of centralized government, this was the very thing the Founding Fathers thought to minimize. A government cannot troll the economy without controlling cannot control the economy without controlling people. Land by eminent domain. We will give you the price. Repeating, if you like your health care plan, you can keep it. Are we looking at the first billiondollar website in history . They also knew, the Founding Fathers, but outside of its legitimate function, government does nothing as well as the private sector of the economy. They have not managed that industry the way they should have. We were told by the government we must except gr