Track to end the week lower. Check out the bright spot. Nikc nike, the best performer in the dow. Were hours away from the last jobs report of 2019 get this, its the last one of the decade high hopes and also high on certainty. Job growth remain strong depiet an undertow of decline and Capital Spending and manufacturering. 187,000 that would reverse the 128 last month the job growth needed to keep the Unemployment Rate low indicator have been mixed as we go in. Ism service expanding. Claims have been up and fell back down. The lowest level since may in the last 12 months theres been three distinct levels of job growth it dropped back down do the 143 area then it picked back up will the real jobs number please stand up given that the fed is on the side line the economy is weakening more than already thought there werent really workers to hire well talk about that right now. We want to keep the jobs conversation its in the market for worker right now. Please welcome Jonathan Tisch. Good
Morgan brennan, jon fortt at post nine of the New York Stock Exchange record highs all around the board. Dow, s p 500, nasdaq, but well begin with news regarding ford forward looks to do apples to apples with tesla. Elon musk tweeting a response, quote, bring it on and calling into question the physics behind musks video of the tesla towing the ford f 150. Is this really where we are . My mom might be watching, i am going to keep it clean, this is a classic measuring contest if ever there was one. Morgan, do you know of any woman watching this tug of war with any kind of great interest mary barra is probably not even watching this. This is classic like testosterone driven man versus man type thing. The nerd truck narrative lives. The truck will be sold to nerds, right . Thats the niche product theyre aiming for i wont call it nerds, but if you look at the numbers, the number two, two top states for electric vehicle registrations, use that as a proxy for tesla, california and new york.
What your technology does. It only matter who uses it, whos the customer thats what i keep thinking. Today another sedate session, s p inched up. Nasdaq. 04 need a microscope here we keep learning this same lesson about technology over and over and over again in this elongated earnings season, and its pretty jarring, because normally we care about what technologies actually does, if its helpful, if it increases speed or accuracy or power or productivity, well, it tends to be a suchls. Buy, buy, buy if its clunky and dead on arrival sell, sell, sell not these days, though. These days wall street only cares about who your customers are. Good, bad, as long as youve got the right end markets, your stock is going to be worded. Lets use roku, okay, and cisco. Roku sells to the consumer, sells to you their Technology Helps you stream videos directly to your tv cisco is a networking company, a colossus that sells to what is known as the enterprise, giant complex companies that need to connect
Downgrading most advanced economies. You can see right there, these numbers 3 for the world, 2. 4 for the u. S. , 1. 2 for your area, 6. 1 for china. These are all down you see there from the prior forecast and also mostly except for japan down from last year. The imf saying in its report, Downside Risks elevated. Brexit related risk to hinder confidence and growth. Theyre down on this trade issue. Very quickly, they do see something of a moderation next here in 2020 we go back up to 3. 4 it isnt the advanced economies this get there theyre looking for a turn around in emerging markets and developing countries four things the imf notes needs to be done theyre saying International Response may be needed if things get worse from here. They say Monetary Policy cannot do it all. There is a financial risk created from low Interest Rates there. Fiscal measures to help with the slowdown along with structural reforms. Carl that is big news, steve were going to dissect a lot of that with the ea
Start the week even the dow the first record close in almost four months. Is this a breakout or a fakeout, pete it certainly feels like a breakout and when i look at the options world, we see nothing but huge buying right now. And weve seen it kind of moving in towards this in energy, in some of the financials but today it was the emerging markets. And dan and i talked about this months ago they were buying the eem, 250,000 in a single print and 30,000 here, 30,000 there. Fxi the same sort of story so it seems like everybody is planning for a breakout. Volatility shocked me, by the way. Its still trading right aurnd need 13, like 12. 5, its amazing to me with the market weve got right now that people are feeling so comfortable, maybe too comfortable. So comfortable in a riskon sort of mentality. Im never comfortable whats the title of this game, breakout or fakeout thats the title. Breakout. You believe in this rally you have to believe the s p 500 is making a new high almost every day