The hang seng market was up and so was the shanghai. The dax was up by 1. 4 . The cac up by 0. 9 . The ftse up by a quarter percentage point. If you check out crude oil prices, youll see crude oil is under significant pressure once again today. Down 1. 38. Down below 47 a barrel. 46. 98 is where the july contract for crude is trading now. Lets get you through todays agenda about the labor market. May jobs report out at 8 30 a. M. Eastern time. Nonfarm payrolls forecast to ride by 184,000. Thats following an increase of 211,000 back in april. The u. S. Economy added jobs for 79 straight months. The Unemployment Rate expected to hold steady at 4. 4 . The lowest level in a decade. Russian president Vladimir Putin will be speaking in st. Petersburg at a forum alongside several other World Leaders including indias modi. The session will be moderated by nbcs megyn kelly. That begins at 7 00 a. M. Eastern time. A programming note, sunday night megyn kelly has an interview with the russian pre
Institute senior economist and policy. Of good morning to you. I want to start with a new york headline that caught your attention over the weekend asically saying as jobs grow and dow climbs trump takes credit. Question, should he . What do you this . Guest it is a Pretty Simple know. The momentum in the labor market started before he came into if anything it slowed we t the last six months added 179,000 jobs on average. To per month compares 208,000 over the same six months last year. Anything it is a little bit of a slowdown but generally thumb is the president takes credit. Before we e a while can see any trump effect. Host Stephen Moore. Guest the economy has accelerated almost in every regard. A good jobs report on friday and that is a a good report we had the months before. The stock market, we saw what appened the day after the election where it went up 700 points. Investors are very encouraged nd anticipating this trump agenda of tax cuts, deregulation and so on. Grew 1. 5 wit
Know. The momentum in the labor market started before he came into if anything it slowed we t the last six months added 179,000 jobs on average. To per month compares 208,000 over the same six months last year. Anything it is a little bit of a slowdown but generally thumb is the president takes credit. Before we e a while can see any trump effect. Host Stephen Moore. Guest the economy has accelerated almost in every regard. A good jobs report on friday and that is a a good report we had the months before. The stock market, we saw what appened the day after the election where it went up 700 points. Investors are very encouraged nd anticipating this trump agenda of tax cuts, deregulation and so on. Grew 1. 5 with obama last year so it was de decelerating. Now we are seeing an acceleration of the economy. Point i would make about everybody looking at right now in the Washington Times i think trump has to get the tax cut passed to keep the momentum going. You see a record high stock market
Anything worth buying or selling off of this new cycle. So maybe we should open that were at a peculiar point in the calendar a couple ofweeks where historically nothing has happened, yet we get great volatility then the stocks rally as they did this afternoon ive got to tell you, i know why. No apparent reason why am i certain were trading on nothing i thought a lot about these periods and learned there is random movement periodically, and it always gets ascribed to something. The market is not always logical and the action doesnt always have to have a concrete cause. Thats why we might as well be adescribed the action to the eclipse. Its about as dark as these glasses. This morning, starting with f. A. N. G. , which is facebook, apple, netflix and google, they were up and down and people scrambled to find any reasons whatsoever there was a lot of instant analysis about what was wrong. Everything then within minutes, we start to see the usual obituaries being written about f. A. N. G.
Macro front. Merkel got things moving a bit. Lets take a look at the tenyear note yield. Were right around 2. 4 but off the highs that we saw, almost 237b9 2. 5. We hit it yesterday. Crude oil at the bottom. Lets get to the road map. A change at the top of twitter. Ceo stepping down. Jack dorsey will be the interim ceo and theyll join us for an interview. And the imf walking out on debt walks and Angela Merkel with new comments. What you need to know to trade. First the ceo of twitter is stepping down effective july 1st. Hes going to be replaced by the cofounder of the company on an interim basis. It comes from amid pressure from some investors who have been unsatisfied with the growth rate. Heres what was said last night during a Conference Call. One of the reasons im stepping in is of the belief i have around our direction and our strategy and specifically around the products. I have a lot of context for it as chairman as talking with the team running it and i do believe that it is r