York stock exchange. Hi, sue. Hi, ty. Were going to start with jobs in america on the eve of the jobs report. Jobless claims up 14,000 last week to a seasonally adjusted 344,000, higher than expected. The challenger report said job cut announcements were up 17 in april. But then the institute for supply managements Employment Index rose. So bob pisani is joining me right here on the floor of the new york stock exchange. Were near alltime highs on the Dow Jones Industrial average, just about to turn positive again. First, though, to senior economics reporter Steve Liesman on the jobs. Stevie, over to you. Hey, sue, thanks. Most economists out there are pretty optimistic about the friday jobs report. Well get to the forecast in just a second. Want to sew you that ism april manufacturing component that you just talked about. You can see that little winter swoon and popping back up in april. Not back to the best levels of later last year, but certainly ticking up at a good sign for manufac
We are live from bloombergs European Headquarters in london. Also coming up, we test drive the scooter that is redefining vehicles. You could do with that today in london with the tube strike on. Have a super blend that is to be used as a spy craft, among other things. Alstom has approved talks with General Electric. It is keeping open the option of talks with siemens. , david, lets start with you. What exactly is ge proposing . Ge has been proposing that it takes over the Energy Business forlstom and leaves a rump alstom of the train business. Which would be a good thing for the french truffle business, the french train business, because it would have this wad of cash that would come from ge. Geswhat was interesting, comments that it would increase jobs in france of any company that it buys. Sense of who is ahead. It looks like alstom is ahead. Theyease the government, are keeping this was a slightly odd announcement. They are entering into negotiations with ge, but these negotiations
There is only one game in town over the next 48 hours. The federal Market Open Committee meeting. Will we have the end of q. E. 3 and how will they signal an increase in Interest Rates whenever that is going to be. Transition from q. E. Ends until the beginning of Interest Rate increases. Lets look at whats happening for euro. Rising for the third day against the dollar. Interest rate expectations are being pushed back in the United States. That benefits the euro. It is up for a third consecutive day against the dollar. It is up by. 10 today. 127. 14. Inally these are the stocks 1. 2714. These are the stocks were watching. It is a busy day for earnings. Earnings beat estimates. Profit missed estimates mainly ecause of legal costs. Lloyds. 9,000 jobs cut. That means various branches will be cut as well. Profit rose. That was a beat but investors obviously choosing to focus on the closedown of the branches and the slashing of jobs as well. U. B. S. Higher. B. P. Higher and european marke
To cover a british probe. Vw and renault shift into top gear. Both carmakers cite a recovery in europe. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And a historic day for wall street, the central bank announced an end to the monthly bond purchases known as quantitative easing. That helps gains and increase the feds Balance Sheet to a record. The question is do stocks continue to outperform despite no qe. But they do point out that the s p 500 is higher by around 11 since the day before the taper was first announced. Were looking at futures right now. A mixed session right now, Dow Jones Industrial indicating a higher open. The s p 500 trading at 1,974. And the nasdaq will continue to be in focus. A lot of earnings including gopro. Now in terms of stock, specific action today, barclays has set aside 500 Million Pounds or 800 million in provision toes cover Foreign Exchange investigation. But investors welcomed a larger than expected 15
Lets get straight to one of our top stories of the day. Volkswagen shares gaining this morning. Europes largest carmaker reported a Third Quarter profit that surged past estimates. Hans nichols has the details. These numbers are so good there can only be one explanation. Ths secretlyyourt learned to drive and are buying volkswagens on the sly. They are up 16 . You see a huge increase in analyst expectations. When you look at profit margin , it isvolkswagen brand 2. 3 . The goal is to get all the way to 6 . Last year, they were 2. 9 . They have high labor costs, especially in germany. Look at the cost per worker per hour. You see a huge difference, almost double in germany. Day in their biggest factory. We will have a look at that later on in the show. Im really looking forward to it. You talked about some of the brands. Ou mentioned audi n china andaudi i skoda as well. Part of this is a general recovery of the auto situation on the continent. Overall, it has been a pretty good story o