Laura. Jim, one of those every now and then we get a day that is truly consequential and that certainly fits at least the expectations for powells speech. I wish that we hadnt come in so hot when you have a company that gains 50 billion in one day, salesforce, when you have a tremendous number of nasdaq stocks that have just kind of out of control to the upside you dont want to have anything that could disrupt that i think its heightened, im glad were covering every minute of t david, you know that this is a day that we would normally be talking about abbott labs and talking about the mysterious tiktok mayor issue which are both huge stories but we have to defer to jay powell. We do we have to defer to powell we have to continue to understand what the fed Balance Sheet will look like with that 3 trillion thats been added to it which is a staggering sum, guys jim, your point is well taken. Yesterday salesforce i have rarely seen anything like that move, yes, they were extraordinarily st
Steady at 4. 9 . Most of those gains coming from the private sector with 217,000 added. Revisions also up for the last two months. A net gain there of 18,000 jobs. Lets give you a look at futures and see how the markets are reacting and you see all up and rather sharply at this point. Jim, it was a good number by most ways to measure it, i would argue. Im curious to what your thoughts are. 75,000 more than expected, lets call it above at least the consensus, somewhere around 180,000. Even the participation went up slightly and were averaging 190,000 jobs over the last three months, and i believe the sixmonth average is roughly the same. Look, sometimes you get these numbers, when theyre bad you say it. You say geez, that economy is not that strong. Thats the judgment. When theyre good, you have to reach the opposite and say the economy is a little stronger than we expected. Juxtapose that with the gdp number we got. Well, i dont know. This is a number that says the consumer could be go
Is mediagetton still upon us. Disney posting mixed results. The details of squares ipo are out. And alibaba buying the youtube of china for 3. 7 billion. The story of the morning is the strong jobs number, including 268,000 private sector jobs added last month. 5 unemployment is the lowest since 08. Average Hourly Earnings up 0. 4. The numbers coming out two days before fed chair yellen indicated a hike in december was a live possibility. Earnings year on year, 2. 5. The biggest since july of 09. Weve been waiting for that number for a long time. Remember earlier this week i sa switched my posture and said bring the rate hike dollar. The dollar will be stronger than it is, and that will hurt the industrials. The banks will soar. Thats a huge part of the s p. It will be mixed for people who own stocks. Healthcare should go down here. The bank stocks, wow, they could carry the whole thing. Does it mean that 70 is being priced in for december . If they dont do it we keep talking about the
Stocks were mixed on Friday morning as investors digested a matchup between the two largest US automakers and braced for the next rate hike by the Federal