Boris johnson sparked outrage. News out ofing south korea. We are getting the jobless rate falling to 3. 2 percent. The expectation was that the jobless rate would come in at 4. 2 percent so this is much better than expected. We are also talking about the sixth straight month of decline in jobless rates. That 270 4000ring jobs were removed in august from a year earlier. We know that south korea has seen its government really boost those job creation efforts not to mention we could have seen domestic demand being held by the Summer Holiday season and more jobs being available. The government pushing for a fourth extra budget. This is of course helping workers and businesses who lost income due to the latest restrictions and jobless rates. 3. 2 . In for august at watch out for what happens later in the following months given we have seen this flare up in virus cases towards the end of august, haiti. Haidi. Haidi pretty dire numbers coming out and we continue to watch what happens when it
Lisa the small and midcap names outperforming over the major indexes. That is not what we have seen as of late. Romaine lets dive deeper with our reporters. Abigail i am thinking about the isn manufacturing report. The lowest level since june of 2009. The fifth month of contraction. The eight down report out of the last nine months. If you look under the hood, you can see some bright spots where talking about boeing and gm harriet its pretty bad. Manufacturing report go from growth to contraction. At that time, if you can recall there was a bear market for the s p 500 in white been 2016 through 2018, the Manufacturing Sector healthy going above 60. Here is the contraction going from 60 to 47. 2 remarkable. Take a look at the divergence between the s p 500 and the isn manufacturing index. Kind ofve that divergence, at some point you think its going to have to catch up in some way whether manufacturing recovers of the record highs, that divergence is something to keep in mind. You would
Neil couple of yves before st. Patricks day, folks they are not worried about the selloff on the corner of wall and broad. We are not worried about it. We have Kendall Fisher coming up. Work with me. This is as long as i can do the irish accent. Im neil cavuto. Lets get to it this prest. Patricks day show. A lot to get to, not a lot of green between wall and broad, a lot of selloffs in effect. Meridian equity partner. Always good to see you. What is going on here today . I understand the backandforth stuff, maybe the rate cuts we want to see on wall street get pushed back to june and beyond but where are you on this . Lets break it down in different segments which weve seen a selloff the last two trading seconds. The market is at significant returns into this year. Weve seen the market trend higher and higher. A little bit of a pullback is healthy for our markets putting aside Interest Rate talks. That is what we are seeing, profittaking, we are getting close to the end quarter and we
What it will take for the stocks to shift gears. And a problem with oil. Extending oil cuts through the end of the year. From new york, im alix steel with guy johnson. Welcome to Bloomberg Markets. It has been a pleasure. You look great. It is nice to see you back. We missed you. Guy i am back from greece where it is raining and very hot now in london. I feel like i am doing something right. Alix you made it through the strikes. Guy i made it. I think the story with strikes around the auto sector and with the airline sector, i think they are synonymous. These are industries that have pushed back really hard on their staff over a number of years and they are now paying the price. We have data coming in. We have got the ecb coming up next week. 2. 1 out of the states. Durable goods 5. 2 . That is right in line with expectations. Extransport coming up at 0. 4 . The durable goods numbers are in line. The factory numbers look good as well. I do not think the market will react much. The oil
5 level. Todays action coming ahead of the busiest week of earnings. A number of key Economic Data points, whether youre a bull or a bear, theres a narrative to hang your hat on. Lets bring in mike santoli, cnbc senior markets commentator. Whats the bull case . The bull case is yields are going up largely because the economy has been stronger than expected. The bottom were seeing in earnings is going to hold. Well actually have progression higher in s p 500 earnings. The market should eventually reflect that. The other piece is the fed is at the end or near the end. Everything going on with yields is also maybe taking the pressure off that end of things. The market seems to roughly agree about that. The other one is sentiment and positioning and seasonals have primed the pump for a decent rebound attempt at the end of the year, i would say. Youre talking about shorts, in other words, coming off very short, equity exposure is coming down, in general. Yeah, all that stuff seems to be bui