17 months. 215,000 positions were added in july, with the Unemployment Rate steady at 5. 3 . Wage s nudged up just slightly, while the share of americans participating in the labor force remains stuck at a 38year low. But experts say the overall report is proof the recovery is chugging along and likelynd kee the Federal Reserve on track for its first Interest Rate hike since 2006. Hampton pearson has more on the numbers and what they mean for main street and wall street. For the first seven months of this year, job growth has been wide spread, averaging 212,000 jobs per month. Health care continues to lead, up 436,000 for the year, including 28,000 last month. Retailers have added 322,000 new employees as Consumer Spending picks up. And it was another strong month for professional and technical services, up 27,000, topping 301,000 for the year. Those booming auto sales help manufacturing have its best month of the year. Workers hours increased, but wage growth remained stagnant. Overal
17 months. 215,000 positions were added in july, with the Unemployment Rate steady at 5. 3 . Wage s nudged up just slightly, while the share of americans participating in the labor force remains stuck at a 38year low. But experts say the overall report is proof the recovery is chugging along and likely keeps the Federal Reserve on track for its first Interest Rate hike since 2006. Hampton pearson has more on the numbers and what they mean for main street and wall street. For the first seven months of this year, job growth has been wide spread, averaging 212,000 jobs per month. Health care continues to lead, up 436,000 for the year, including 28,000 last month. Retailers have added 322,000 new employees as Consumer Spending picks up. And it was another strong month for professional and technical services, up 27,000, topping 301,000 for the year. Those booming auto sales help manufacturing have its best month of the year. Workers hours increased, but wage growth remained stagnant. Overal
August but straight to macys earnings out right now. Julie hyman has the latest. Are they in fashion . Julie stion mark get it . Julie i do get it but not so much. Low estimates at the extreme for cents, a drop in earnings yearoveryear and looks like sales are down by 1. 5 . Most of the analysts i had seen were looking for flat slightly down, so this could be a bigger drop then had been estimated. It also looks like if you look at the company on the sales basis, just a net sales basis, those numbers down 2. 6 at 6. 1 billion. That, too, is worse than estimated and the company decides weaker than expected Sales Performance in the first half. There have been activist involvement for macys coming from starboard capital, pushing the capital to spinoffs of real estate holdings, a similar thing to what we saw happen at sears. Acs has not done that but they are announcing today the sale of one of its properties in downtown brooklyn to tishman. This is something analysts have talked about, it
Ahead of Quarterly Results. Stocks hitting a new all time low on heavy volume in new york. Crude prices bounce back after world demand for oil is growing at the fastest pace in five years but also warns that the supply overhang will persist. And welcome to the second hour of the show. The overnight devaluations of the chinese yuan spooking markets not just here in europe but in the u. S. As well. The dow gaining 230 points on monday but quickly reversed the losses on tuesday. The dow down by 190 points in premarket trade so we could be in for another day of selling here on wall street. The s p 500 lower by 24 points. This as Oil Prices Hit a multiyear low again yesterday that of course sending Energy Stocks lower. This is a very good stage of stocks around the world. They respond negatively to that move to deval its currency for the second straight day and of course european stocks also trading lower. Thats weighing on the index which is down about. 6 in todays trade but as i said euro
Is europe close. This often happens. We just had a horrible day in europe. Worst day of the year really. A lot of markets down 3 . You see just right after europe closed, closer to noon, the market came up and moved into positive territory. As for china, the etfs in china very heavy volume today. Doesnt matter what etfs, ashr, thats mainland china, the a shares. The second one is hong kong shares. All of them are down though not as much in hong kong as you can see. This is spilling into the emerging markets. A lot of activity in emerging market etfs. For example, indonesia has moved down in the last few days. Those are new multiyear lows for indonesia. The same whats going on in other emerging market etfs for example, br zale. Ewz is very active. This is a 10year chart. We just broke below the 2009 lows in brazil. That was widely commented on trading this morning. With Interest Rates moving down, Interest Rate sensitive groups, particularly banks and insurers are weak. Banks understand