Created in november. The Unemployment Rate fell to 4. 6 . But thats because more americans left the work force. And wages, which had been rising, fell. So despite the labor market being described as solid, some questions still remain. But as Hampton Pearson reports, that may not deter the Federal Reserve. Reporter the november jobs report, which included the lowest Unemployment Rate in nine years, may be the last hurdle to fall as the Federal Reserve considers raising Interest Rates for the first time in a year. Leading economists say when monetary policymakers meet in two weeks, markets will be focused on what the fed says about the path of future rate hikes. Our expectation is three hikes next year. Currently theyre signalling two. I wouldnt really expect them to necessarily change that. You know, in two weeks. But i do think that ultimately were at full employment, i think. And were still adding 170, 180,000 jobs a month. The drop in the Unemployment Rate to 4. 6 had cross currents.
Warns of huge consolidation. Opec dissents on the in a. Crude dissents under 50. Is saudi arabias oil minister calling the shots . A warm welcome to the program. Lets have a look on what is happening at the futures. We are not getting an incredibly strong picture from the futures this morning, i have to say. Weve got euro stocks up just a fraction at the start of the are p and trading day. The ftse 100, perhaps its a little bit on the back foot. Of getting a great deal momentum perhaps coming through from the asian session. We still have some big agenda items on the radar with the ecb meeting and the jobs report, plenty still to digest. Matt take a look at the nikkei, down 1. 6 . Take a look at the yen strength that we are seeing, 109. 95, how many yen you get for your u. S. Dollar. The aussie dollar on the other strength,owing some not the kind of strength we saw earlier in the session. We saw an hour ago a 1 gain against the greenback. 0. 5 . Only see it up losses in brent, the globa
To have Going Forward. Lets get a check on the markets. Julie hyman is standing by. Have at least some of the downdraft today having to do with some of the earnings reports we have gotten. The dow falling the most of the three major averages, down one half of 1 . Transportation is a big part of the story. On pacific, the lard was the largest publicly traded railroad in north america. Shares down 3 . Profit spell and shares down 12 , and the company said Going Forward that plunging consumer demand and a strong dollar will be a consistent drag. You can look at the carload on the bloomberg. I am looking at yearoveryear decline or advances in the various types of carloads. The purple is coal. We have seen continuing declines in cold. In coal. You are seeing declines in the other areas, everything but agriculture. Other modes of transportation as well. All of that falling. Union pacific has to take pretty drastic measures. It has 33 workers on furlough. It has stored 1700 locomotives to shr
London. And francine lacqua. Heres a picture from the boards i am francine lacqua. His a picture from the boards. There you go, 130. We were touching below 130 just about a half hour ago. Crude oil at 42. The european stocks practically unchanged. Just a little bit higher. Because it is august and we are not seeing much volatility i want to say that u. S. Volatility index down. Lets get to the bloomberg first word news with near change it nejra donald trump has laid out his plans for growth in the u. S. Borrowing from traditional republican ideas by proposing tax cuts and looser regulations. He told the Detroit Economic Club that he wants to simple five excessive business regulations and lift restrictions on the Energy Sector. He also says he wants lower corporate taxes and the biggest overhaul to the income tax cote since ronald reagan. Cooks you cannot ever start a Small Business under the tremendous Regulatory Burden that you have today in our country. Going to end it. I am going to
The world was supposed to end and it didnt. It has been the same case with the ftse. Ftse is right at 6 yesterday and bringing it back to higher levels. I know he wanted to hear this. I wanted to tell him this. No, no. Its not about me. Never about me, but mark grant is going to come on. Thus far you have been right. Mark grant is going to come on and say its not the uk shouldnt be the ones worried, its the eu that should be worried. Sterling has gotten hit pretty hard. Jim paulson is going to come on tomorrow and say the same thing. Call it a wom went to cast right now because its a little bit too progressive. Have you heard that. I have no the. They have a show. You heard that from what, your twitter followers. Dont you see that. Well share with our twitter followers. You go wild, dont you. When the cats away, the mouse will play. Its like video New York Times not bad . No . No, no. What did holeman say last night. He wrote a big Global Warming piece. We did not talk about that. Cens