Rishaad the jobs report in the u. S. Is better than expected. You have to drill down into some of it. What i want to bring up. This is the rate for those who a mainss educated with beneficiaries of the job creation taking place in the u. S. Recovery has been Strong Enough, even people struggling in the labor markets are doing better. Others are taking another view, saying most of these jobs are not creating that much value. 51,000 ofking about them are created in the food and beverage agency. Hotels and bars as well. Waiting staff and bar staff as well. That is what we have if you are drilling into that data. Are seeing this reaction on the markets, equities are pushing higher with a little bit of a recovery in the bloomberg dollar index. That is back to trading flat in the Asian Session today. It did not move the needle when it comes to fed expectations. That is what we are watching for with the cpi numbers in the u. S. There is commentary from this fed president towards the end of th
David i dont know how you put those two together. They are two different people. Jon neither do i. Deutsche bank chief economic analyst will be joining us this morning. Futures, a little bit softer today in the United States. In europe, lower for tents. The euro, a little bit weaker. German tenure is the best performer in europe. The dollaryen had a little bit of risk aversion overnight. Gold softer on the day, oil, softer on the day. Two political risks nothing like what we are facing here in the u. S. David the Deutsche Bank stock jon the Deutsche Bank stock, down this morning. Own cryan ripping up his. Urnaround plan the effort include selling part of the Asset Management business. Francine lacqua spoke earlier about the new strategy. Remember, i described as Capital Raising. Yet she need to advance it. I think, one year ago it would have been much more difficult for us. There is still a lot more uncertainty. I feel more comfortable sitting in the seat i sit this year than i would h
Proxy for the selection. It was the unexpected proxy. The peso has been gaining ground in the wake of the debate last night and some market for tip of the are judging a Hillary Clinton one. That is fueling to some degree of relief rally in u. S. Stocks. We see some cyclical groups leading the rally today. Most notably, discretionary stocks. They are doing particularly well. If you look at the s p index, its up. Thats one of the best performing groups we are watching. That has to do with Consumer Confidence. It rose to a ninemonth high. If you look at the bloomberg, you can see how it dead. This is ec a left on the bloomberg. This is the actual number. You chart here shows todays reports are way out here. We saw that. Jobs are plentiful right now. This is also at a nineyear high. If you look around the discretionary universe, weve got the Online Travel sites doing well. They are rallying more than 3 . Amazon is rallying today. Once again, its at a record. They are benefiting from some o
Influx of refugees. Lets start with breaking news. Were waiting for results to come across the bloomberg terminal. This is regarding their exposure to china. In terms of numbers, we are waiting for those the break. The separation process is on track. Here we have the thirdquarter earnings, earnings for interest and tax amateurs asian amortization. That is in line with analyst estimates at the moment, and it is indeed grow from the previous year. They say they are updating on the transaction. We will have to dig into that. Remember, in their last set of earnings when we got that update, they did warn about growing microeconomic risks, particular he russia, brazil, china, the areas of decline. China will not be growing more than 7 . Together these three countries overall 15 of phillips sales. It is a beat overall when you look at earnings. An excess of half 1 billion. Comparable sales of 2 . Come back and i will give you a deep dive into how that transaction is processing regressing. Bac
Coming up, a happy birthday for jack dorsey. The stock surging on its first as a Public Company. I spoke with jack about the ipl. And investors lining up for a date with match group, pricing at the low in of its ipo range. And more trouble for Marissa Mayer. A shot fired, telling the company not to spin off its stake in alibaba. Square surging in its first day of trading. Pricing at just nine dollars a share. The company had been marketing shares at an 1113 dollar range. Prices would have given a valuation below the 6 billion that in its last private financing round. Was it a day to celebrate or breathe a sigh of relief . Here is jack dorsey with me. Im excited. It is something that has been a long road. What will accelerate business and help us build the tools that serve customers in the right way. Im excited to get back to work. They i caught up with square cfo. She described the disparity in the valuation. Ultimately i dont know if we can get into the disparity. We do what we can do