Stalemate over the Government Shutdown continues and now a dire warning from the Treasury Department about the debt ceiling. The governments ability to pay bills which its already incured. It says a default would be unprecedented and can be catastroph catastrophic. The value of the dollar could plummet. U. S. Interest rates could skyrocket. We will hit the debt limit on october 17th, unless Congress Raises that debt ceiling. The dow posted a triple digit loss on thursday and fell below 15,000 for the first time in a month. The markets rebounded on friday. The september jobs report which are was scheduled to be released on friday was postponed due to the Government Shutdown but the adp employment report which measures private employment showed 166,000 jobs were added last month and that was slightly below expectations. Twitter took another giant step toward going public. The Company Announced on twitter it has officially filed papers to do so and will trade under the Ticker Symbol twtr.
The Ticker Symbol twtr. No word on what it will exchange on or at what price. The markets faced a double threat from washington. The threat of the shut down and the debt ceiling. Joining me is chief strategist at jpmorgan funds. We had no jobs number this week. Bummer. It wawas tough. Were at a point where you might be able to guess what that number might have been. What kind of job growth do you see now . I think were between 150,000 and 200,000 per month. Thats the job growth weve been getting for the past three years. I dont think it changed in september. I think were still somewhere in that range. David kelly, you guys are trying to guess as well. Your number is a little bigger than mark zandi. Within the range of error were the same number. We were looking for195,000. The Unemployment Rate w going to fall to 7. 2 . The labor market was tightening but all this is before what blew up in washington this week. With what blew up the Federal Reserve is looking pretty good when they didn
Intensifying. New data showing that the economy slowed at a pace than originally anticipated. Nasdaq starting off at a a closing high, and 14year high. And the guidance says it is experiencing severe disruption from the winter, and gap suggest suggests gaap suggests it will fall more than expected. And on mad mad money last night, cramer talked about raising investments. And we will hear from apples tim cook. And in the first full year results are lower after discovering fraud in the subsidiary in mexico, and they go into detail, jim. This is not a minor story, and i know that when you look at the big revenues of citi you say, so what, but this is a major client with a checkered history and it is a 360 million and they say, 230 million, but 360 million pretax the. Okay. And you think it is important because you look at 360 million pretax fraud resulting in a 235 million aftertax writedown and it gets complex. It is complex. But related to transactions between penmax and vanimax who is
S p was down almost 5 . Five days down after hitting alltime highs last week. Bob pisani, where will we see green again . Hopefully soon. Shinzo abe was talking about everything was up since he came to office. Lets take a look at full screen. Some call it fiscal fear fatigue. Volume on the light side as a lot of people deciding to wait things out here. Big caps down but the small cap, russell 2000 hit an historic intraday high. Tenyear treasury yield down. Take a look at walmart, bloomberg had a story out in the middle of the day that they were cutting orders to suppliers because of rising inventories. Our Courtney Reagan talked to walmart and said story was misleading. Stock came back a bit. Some retailers, consumer names in the Dow Jones Industrial average moved down on that, including nike, p g and home depot. Alcatel, a story on reuters, you see that pop up there. Thank you so much. As you can see, i have the stylish new google glass glasses. Very cool to be looking in one eye at c
Captioning sponsored by cbs this is the cbs evening news. Axelrod good evening. Im jim axelrod with a western edition of the broadcast. President obama spoke to the American People from the rose garden this afternoon, pressing his case for a military action against the Syrian Regime and calling the chemical attack that claimed more than 1,400 lives in syria 10 days ago a menace that must be confronted. But the president also made it clear he does not want to proceed alone and will seek authorization and support for a limited strike from congress. We have several reports tonight beginning with bill plante at the white house. Bill, we understand the president s decision to take this to congress came as a surprise even to his own advisers. Reporter absolutely, jim. He called them into his Senior Office last night to tell them two things that hes now decided it use military force but also that he was reversing course and would seek congressional approval. His reasoning, according to offici