Jm morgan victim to one of the largest Cyber Security hacks ever. 76 million households and 7 million businesses affected. New clashes in hong kong as protests take a violent turn. Counterprotests storming the heart of the sitin. Bob iger till the middle of 2016. Disney extends his contract. September nonfarm payrolls jumping 248,000, above forecast of 215,000. Private sector added 236,000 jobs. August payrolls revised upward. Unemployment rate down 0. 2 to that sixyear low of 5. 9 . Labor force Participation Rate did fall slightly. Earnings were a goose egg. If youre looking to quibble here, might be service is made up of almost everything. Hard to find highpaying manufacturing jobs. I think this number did one thing which said those who think that the economy peaked over the summer in employment are wrong. I think that is really important. That had become a consensus of late given the fact that the last employment number was so bad, and given the fact we hear about peak oil. Youve go
My take is dont get too excited. Why . Because we just found out why weve been going up. Weve been going up, s p, people trying to figure out why. You have good employment. You have workforce growth and the hours not that great because of the weather, but i think you say to yourself, well, why is the s p going up every day . Oh, employment has gotten better and thats a major switch would it shock me if the market takes some profits in this . No, because its been going up on anticipation of something good and then we got the big enchilada good. I kind of like it. The s p has rallied the past ten jobs fridays in a row. Some say thats a ridiculous metric, but maybe its time for a reversion to the mean. No metrics are ridiculous if they just look, i forgot to wish the bull market happy birthday. Of course, it never happened, you know that . You know the bull market has never happened. Jim has been on a tear lately of the haters of this market, right . Yes. The haters will have to asterisk
Inflation has been a thorn in the side of central banks worldwide for over two years, but Goldman Sachs chief economist Jan Hatzius believes the era of pain for consumers is
Harvard s Jason Furman started the year with a 50% probability of a recession within the next one year. He s now recalibrated it to 20%. Mark Zandi, chief economist at Moody s Analytics, reduced his estimate from 50% to 33%. Goldman s Jan Hatzius was an outlier with a 35% probability at the start of the year. He has now pegged it down to just 15%.