Those new worries for the fed on the labor front. September nonfarm payrolls weaker, rising by 142,000 in august. Revised sharply lower to show 136,000 added. The rates stay steady at 5. 1. Average Hourly Earnings come in flat, but we were looking for something in the 0. 2 0. 3 range. Maybe the most biggest disappointment of the year so far. Coupled with the august revision lower. The 2015 average goes to 198,000 jobs created per month. Thats a sharp slowdown. Last year we were averaging 260,000 jobs. Its more than that. If you take the three month average, youre down 267. Which begs the question, whether we like it or not, where are we in the Business Cycle . Regardless of what fed is doing. The whole discussion as to whether rates this low and the fed Balance Sheet this big are able to stimulate the labor market like they think it does. Clearly there are diminishing returns here. The Market Reaction has not been good. Dow futures down 161 points. The treasury note yield slipped below
Ends up being routine. We have become numb to this. Experian is hit by a data breach that could effect 15 million customers that signed up for their service sending shares lower in london. Sprint banks on job cuts to help the wireless carrier cut up to 2. 5 billion in costs according to a memo seen by the wall street journal. All right. Quick peak at u. S. Futures and what were expecting today is a slightly higher start to the trading session. The s p 500 taking fair value into account seen up by 7. 5 points or so and the nasdaq expected to open higher by 22 points or so. This is after a mixed close in yesterdays trading session. The dow was off by a fraction but the s p and nasdaq managed to eek out a very modest gain. The weakest since 2013. The dow is down nearly 2011 points but as i mentioned we closed a little bit higher than that. Dont let the party go on too long so says San Francisco fed president jon williams of the easy policy which Central Banks are due to start reigning in.
Global commodities crush. And tracking the big storm. Hurricane Joaquin Phoenix may miss the east coast. Were not out of the roads yet. Stocks wiping out the big losses there this morning. The dow was down as much as 258 points earlier. Now its up by 44. The s p by 5. Lets get more. Whats behind the turnaround, bob . Initially, the trades cant decide if bad news is good news again. I want to show you what happened. Take a look at the s p 500. We dropped more than 20 points on the future. We gapped down at the open for the s p 500. I think europeans look to the u. S. For growth help, they initially thought that this might be good news. It wasnt. They, too, also sold. But then, things turned around. If you put up the s p intraday, we had a series of strong rallies about 10 15 or so. Every ten or 15 mine out minu, spikes. You cant see the volume here. The dollar is notably weaker. Thats a big help to global multinationals. E emerson, dover. Inger solrand. Were seeing the Building Products
Ends up being routine. We have become numb to this. Experian is hit by a data breach. Sending shares lower in london. Lift off. They get a bullish note while klm takes off on news of significant job cuts. Dont let the party go on too long so says San Francisco fed president jon williams of the easy policy theyre due to start reigning in. He said policy makers did not need much more data to make a decision and said if todays jobs growth was above 150,000, that would be, quote, good. Lets tell you what were expecting. What clues will todays nonfunds payroll report say, forecasts say 200,000 jobs were added in the month of september. Some are hoping for signs of a rebound after employment growth in august came in at the slowest rate in five months. It comes on the back of a solid adp report. Private employers added the strongest reading since june. They lead the way taking on 188,000 more employees. Construction hiring is also the best its been since february 2006 but the big drag was the
Clintons term as secretary of state. Republicans can call 202 7488001. Democrats, you can call us at 202 7488000. Independence, you can dial at 202 7458002. You can also share your thoughts on social media. You can find us on twitter, the. Handle is cspanwj beer on facebook at facebook. Com cspan. Or you can send us an email at journal cspan. Org. The Benghazi Committee has made headlines this week, after Kevin Mccarthy appeared on fox news, where he seemed to suggest that the work of the committee is purely political. Here is a bit of what he had to say. [video clip] what you are going to see is a conservative speaker that takes conservative congress that puts a strategy to fight and win. Let me give you one example. Everybody thought Hillary Clinton was unbeatable. R inut together othe Benghazi Special committee. What are her numbers today. Co her numbers are dropping because she is on trustable. No one would have known any of that had happened host that was representative Kevin Mcca