Cuts so futures are pointing to further declines despite the jobs growth today, smashing expectations for february. The economy added 273,000 jobs during the month, versus the expected 175 Unemployment Rate 3. 5. Wall street looking to close out a turbulent week, the tenyear did tumble below 70 basis points for the first time ever, as investors look for safety amid fears. Revisions on the jobs number not bad but people are calling it the least important jobs number in a long time i dont want to go there. Im going to say the opposite. When you come in with a head of steam, at least you got some possibilities that were not going to go immediately into the recession because there were you dont hire and then lay them off the next day the 53,000 jobs in Food Services and drinking places, thats an extraordinary number are we going to fire all those people interesting. Not right away. Not right away. But there seems to be a growing belief that we are going to have a recession. Right but im sa
Dow hit its alltime high of 29,568, just 16 trading days later its down 3,400 points. Keep a little perspective here. Yeah, thats a big and rapid drop, but were not at this point in a bear market. We are going to open down 700 for the dow, 80 odd for the s p, 270 for the nasdaq. Its a friday. Remember that. Its important. There will be some reluctance to hold stocks over the weekend because you simply dont know what virus headlines will greet you come monday morning. Now, heres some positive news on the economy, which is having no effect on the market. 273,000 new jobs added last month. A blockbuster report. But that report looks backward. The stock market looks forward. Larry kudlow will be addressing this coming up on the show today. And we expect to hear from President Trump shortly. Last night at his town hall on fox, he had a calm demeanor and on the virus he said we have plans for every single possibility. The campaign trail. Elizabeth warren has not yet thrown her support behind
Welcome to the big tl, im michelle carusocabrera, three hours left in the trading session. Stocks are head ed lore, right now dow, s p 500 and nasdaq theyre all in the red. Energy is the big loser as oil hits a fresh twoweek low. Brian. Heres what else is happening at this hour. Breaking developments out of brazil. The senate there voting to remove president rumsef from office. More on this developing story straight ahead. Also, elon musk suggesting that major improvements may be coming to teslas autopilot software. More details are expected later on today. And florida declaring a state of emergency as a hurricane watch goes into effect for parts of the gulf. This as hawaii braces for a hit from two hurricanes. The very latest on all three weather patterns coming up. As you can tell weve got another big two hours ahead for you, but lets begin with this. Janus capital bill gross taking aim at janet yellen and the Federal Reserve itself and latest outlook gross says yellen and the fed ha
French and russian governments lay out their 2015 budget. Moscow cuts Spending Plans as sanctions take their toll. Were on the ground in moscow and paris. Youre watching worldwide exchange, bringing you Business News from around the globe. And we just got the final reading of the eurozone september manufacturing pmi. It has come in at 50. 3. The previous month for august, it was 50. 7. It was forecast for september at 50. 5 but came in a at 50. 3, so slightly lower than expected. You can see the euro dollar has moved down. Also, five minutes ago, we got the german reading which came in at 49. 9, below expectations at 50. 3 and below where it came in for august at 50. 4. Again, slightly weaker than expected eurozone data, ahead of the crucial meeting for the ecb. In only a month, weve had two very strong days of positive gains in the stoxx 600 after the last season ended a month ago, yet the stoxx 600 ended the month broadly flat. Obviously, not much confidence there. Growing concerns a
Nine months, s p, nasdaq losing 2. 7 , but that was the underlying theme today. It has to be fleshed out so you can make sense of the timelessness of some brands ver the ephemeral nature. Last night i highlighted a ton of potential takeover targets. Specifically in the Food Industry. Hey, kraft may have had a miserable quarter, but its brands arent going away. Pinnacle foods actually got a bid from hillshire, because birds eye and duncan, heinz have stood the test of time. Hillshire brands got two different bids, because theyre still valuable brands in a slow growth world. I believe that campbells soup is ripe to be acquired by kellogg and General Mills. Great brand. Hey, you know what . Mills should snap of hain celestial, why . That has the best in the umbrella of natural foods. Why do we like brands so much . They have what we call brand equity, which means they can charge more than the other guy who doesnt. They have motors around them, thank ymoats around them, for years and years