Positive things in the jobs report as well. S p up 0. 2 now, but of stocks making big moves on good news, including lululemon, up 8. 5 on analyst comments. Conagra, even though it got a downgrade and started the day lower, is up 0. 6 now. Guy lets get some insight on todays payroll number. It wasnt a headline level miss, but it kind of felt like pretty much what the market was looking for. With us is ira jersey. Ira, did todays number change anything . Ira i dont think it changed much. Like you mentioned, it was really a mixed bag. The number of hours worked, as well as hourly average earnings, was ok. When you look at what i call the paycheck of the economy, the some product of all of those the sum product of all of those things, it is higher than it was last month. Not much, but maybe we are stabilizing here considering average wages were falling for the bulk of the year so far. Vonnie larry kudlow mentioned that in terms of wages, we are now 4 plus over the last three months. Im won
Alive that the consumer keep spending. The fed has two ways to look at it. The economy is slowing or the economy is hanging in there where it was with job creation little lower, but wages rising and the workweek a little bit longer. That means the expansion keeps going. David the question is what does it mean for the fed. Lets talk about that as we are waiting for jay powell to speak. We will come back to Michael Mckee. In the meantime, Kevin Cirilli at the white house. Finally, we have a plan from the white house on what to do with fannie mae and freddie mac . Kevin they are calling it a roadmap. Steven mnuchin unveiling a plan that would reprivatize fannie mae and freddie mac. It was back during the Bush Administration that the republican part of that 190 billion bailout from taxpayers issued a conservatorship for fannie mae and freddie mac. As of now, they make up about half of the mortgages in the 11 trillion Mortgage Market. It is a long shot to get them privatized. Even behind th
Supply. Question is how quickly they could get full capacity back. We are hearing from people they are seeing less optimistic, this could take weeks if not months. The second biggest question i feel is important for your show, this is a country that has the thirdbiggest military budget. It has a u. S. Built missileDefense System. Happenedow this attack and was able to infiltrate Saudi Security measures. Is how otheron producers might react. They are not in any big rush to up production. The saudis have reserved not just in the kingdom and japan. We are talking about the fact that this narrative, saudi arabia, and its partners need to cut the defendant prices. The market has been so focused on the trade war and china. Are going toy comply. When you have a situation like this you can expect these countries not to comply with air out but. That remains to be seen. There have been no calls for any sort of emergency meeting. Opec is in dialogue with the saudis and they are going to be monito
Helsinki, Michael Mckee in new york, and Kevin Cirilli down in houston. There was a bloomberg report trumpday that president might have a ceasefire, and the president basically confirmed it. Pm johnson i see a lot of pres. Trump i see a lot of analysts seeing we will do a piecemeal. Easy or hard. Theres a deal or theres not a deal, but it is something we are considering. David there you heard it. It looks a little like the chinese may have responded this morning. Right. Xactly some economists are talking about a mini deal. Theres the prospect of china buying some u. S. Agricultural products and exempting pork and soybeans from additional tariffs. Expectedtowards these talks in october at a high level between both sides, there is a word of caution as well in all of this. China has always been in the market for more agricultural goods. Dating more pork in particular because of swine flu. Theres certainly evidence of some good gestures, but no signs of a major, sustainable breakthrough ju
Number bang in line with estimates. The transport number is a little stronger than i am its. Youre getting a then estimates. The factory number is a little weaker than estimates, a little better. Than last time around what we are getting here is maybe a bit of evidence of continued weakness in the industrial sector, and may be some transference of that into the Services Sector judging by the ism, which is still robust, but beginning to fade a bit. Equity markets and bond markets are having a reasonably turbulent time. Of bearingssmart institute is joining us. The data are still pretty good, but maybe there are crocs appearing. Arestopher i think there certainly crocs appearing, but as you say, the data is still pretty good. The data youve just gone through is a little weak on the margins, but still in expansionary territory. What is so difficult for those of us who look at the data is to reconcile that with the signals the bond market is sending, which is much more worried about longte