decline in the nasdaq. it was a strong week overall, and a strong start to 2023. the s&p , let s see, we re watching down markets there. nasdaq up 3%. five-week winning streak there. shockingly strong jobs report friday has investors worrying what the next fed hike move is. and next this week, we ll get more information. from jerome powell, state of the union address, and weekly jobless claims. another week of big earn, pepsi, uber slated to report. inflation, gas prices falling a penny, $3.37 a gallon. let s bin in ken robach. ken, nice to see you. what do you make of that jobs report friday? well, i was shocked. if you told me it was minus 100,000. it s over 500,000. incredible. it s a good thing.
number. that should allow the federal reserve to ease off on its fed hike, the rate hiking cycle. and that is seen as a positive for stocks. you know, that will just the only thing happening in a vacuum, it would be very positive for stocks. all of this other news that people are, for the moment, ignoring including the threat of a recession. yeah. i mean, there s been that threat of a recession hanging over us for months now. tomorrow we re probably going to get fourth quarter gdp numbers going to look good showing the u.s. economy was strong at the end of the year. the labor market was quite strong here. the up employment rate at 3.5% matching the lowest since 1969. if you are, indeed, facing a recession in 2023, you re coming from a pretty strong base. absolutely. that s the strange thing. yeah, 3.5% of the rate is the lowest close to our lifetimes and so that s not consistent at all with a recession. there are other signs like the
Korea could face a mild recession in 2023, as exports and private spending are forecast to falter after serving as the country s two main growth drivers, according to multiple analysts from here and abroad. A recession generally is defined as a significant fall in gross domestic product (GDP) for two or more consecutive quarters. The projection comes amid the dominant outlook that Asia s fourth-largest economy will display rare low growth in the 1-percent range in 2023, compared to estimated growth in the 2-percent range in 2022.
the fed hike. we will watch wall street react. sandra: glad he s coming. what happened? all green all day, and then the federal reserve interest rate decision came in and lost all the gains and more. migrants are flooding the southern border ahead of title 42 expiration one week from today, sparking a rise in kidnappings, the sight of dangerous criminals preying on desperate people. one mother s journey and the message for her family back home. john: we are digging into that with texas democratic congressman henry cuellar and the flow of deadly fentanyl across the border. nearly took the life of a florida police officer who was exposed to the drug during a traffic stop. breathe, come on, breathe. hit her again. she s not breathing, hit her again. out again? yes. orking hard to build a better future.
Twitter CEO Elon Musk on Saturday said that the next US Federal Reserve rate hike will amplify the recession. Elon Musk Says Next US Federal Rate Hike Will Amplify ‘Recession’; Gets Criticized.