What does that mean . Hello and welcome to bloomberg daybreak asia. Im haidi lun. Betty i am betty liu at the mobile headquarters in new york. Weve got one i clearly watching what is happening in the korean peninsula. In the meantime, we are watching what is happening here in tax reform and u. S. Markets. It looks like tax or formal possibly passed by the end of the year and markets will move higher,. I want to pull up a chart that shows perhaps a little bit of a warning sign. It just shows you the valuation of snp stock versus the euro stoxx 600uro companies. You can see how the valuation so muchinues to widen, so that it has some investors saying even if stocks rally, maybe there is better value in other parts of the world, particularly europe. Maybe it is europes time to shine next year. Haidi absolutely. It is interesting, this idea of momentum and sentiment driven rally we have seen. Haveore record highs we seen overnight as we get closer to closing out the year. Usuallyet period
17 months. 215,000 positions were added in july, with the Unemployment Rate steady at 5. 3 . Wages ss nudged up just slightly while the share of americans participating in the labor force remains stuck at a 38year low. But experts say the overall report is proof the recovery is chugging along and likely keeps the Federal Reserve on track for its first Interest Rate hike since 2006. Hampton pearson has more on the numbers and what they mean for main street and wall street. For the first seven months of this year job growth has been wide spread averaging 212,000 jobs per month. Health care continues to lead up 436,000 for the year including 28,000 last month. Retailers have added 322,000 new employees as Consumer Spending picks up. And it was another strong month for professional and Technical Services up 27,000 topping 301,000 for the year. Those booming auto sales help manufacturing have its best month of the year. Workers hours increased, but wage growth remained stagnant. Overall, a
17 months. 215,000 positions were added in july, with the Unemployment Rate steady at 5. 3 . Wage s nudged up just slightly, while the share of americans participating in the labor force remains stuck at a 38year low. But experts say the overall report is proof the recovery is chugging along and likelynd kee the Federal Reserve on track for its first Interest Rate hike since 2006. Hampton pearson has more on the numbers and what they mean for main street and wall street. For the first seven months of this year, job growth has been wide spread, averaging 212,000 jobs per month. Health care continues to lead, up 436,000 for the year, including 28,000 last month. Retailers have added 322,000 new employees as Consumer Spending picks up. And it was another strong month for professional and technical services, up 27,000, topping 301,000 for the year. Those booming auto sales help manufacturing have its best month of the year. Workers hours increased, but wage growth remained stagnant. Overal
17 months. 215,000 positions were added in july, with the Unemployment Rate steady at 5. 3 . Wage s nudged up just slightly, while the share of americans participating in the labor force remains stuck at a 38year low. But experts say the overall report is proof the recovery is chugging along and likely keeps the Federal Reserve on track for its first Interest Rate hike since 2006. Hampton pearson has more on the numbers and what they mean for main street and wall street. For the first seven months of this year, job growth has been wide spread, averaging 212,000 jobs per month. Health care continues to lead, up 436,000 for the year, including 28,000 last month. Retailers have added 322,000 new employees as Consumer Spending picks up. And it was another strong month for professional and technical services, up 27,000, topping 301,000 for the year. Those booming auto sales help manufacturing have its best month of the year. Workers hours increased, but wage growth remained stagnant. Overal
Data on inflation. Also minutes from the last fomc meeting. The july Consumer Price index will be released at 8 30 eastern time and at 2 00 this afternoon we should be getting more insight into what fed policy makers talked about last month and perhaps what theyre thinking about is the highly anticipated september gathering. Heres the other stories were watching today. Chinas wild and scary ride continuing, volatile perhaps not a Strong Enough word to describe the session. The shanghai composite dropped by 5 early on but then closed up by more than a percent. They point to government backed buyers as catalysts for the turn around as well as rumors that Chinas Central Bank might be ready to cut the key reserve ratio requirements for banks. German lawmakers are voting on a greek bailout. The legislation is expected to pass despite a growing rebellion within chancellor merkels on party. More from our colleagues in europe in a few minutes. Back here in the states the consumer remains front