Pfizers chairman admits that theyre not sure if someone can transmit the virus after vaccination. And call it a box office reset, warner bros. Will release films simultaneously in theaters and streaming platform hbo max it is a seismic change, carl, in the economics for those related to the film business and well certainly be willing to and happy to take a closer look and discuss it. Yeah. Fascinating change in the economics there. But, guys, jobs numbers, the story of the morning, jim, not just the number itself and the trend it outline, but the degree to which it is going to color the debate on capitol hill today and maybe next week. I think it is enough ammo to say, look, we have to do something, there is some areas of the economy that just are cannot be sustained. Dont forget, these numbers are ahead of what will be a gigantic eviction notice that more than maybe more than 13 Million People get in january. I think this number is just enough to be able to say, lets compromise it is
A lot of the jobs that have been lost since the pandemic are being recovered. No question it was a much better number than was expected with the headline being 1. 4 million jobs added and the Unemployment Rate going below double digits for the First Time Since the pandemic adding it all up we now have recovered since april a total of about 10. 6 million jobs, which is huge progress, but it also leaves a huge hole we still have 11. 5 million fewer jobs than we had in february which was the month before the pandemic so weve still got to dig ourselves out of the hole and weve still got to look at the permanent impact of all of this. One in the numbers i went to first in this report is the number of people seeing permanent job losses it did rise by about half a million. Its 3. 4 million so that is the highest level since 2013 and does point to the fact that there is going to be some permanent scarring despite the fact, carl, that we are seeing progress, its moving in the right direction. T
Tenyear 91 basis points one more way in which the economy in this case has confounded some and the markets had it right yeah. There wasnt a day that we came in and we heard from very big people, rich people, Hedge Fund Managers saying this is ridiculous its fanciful, that the rally itself was uninformed. I admit, look, there were parts of me that said are you kidding me, every morning the airlines will be up big when very few people are flying . It turns out that the hiring took place in the areas that we felt were most devastated. Retail, travel, leisure. And its remarkable because when youre looking for 20 and you have all your scripts all set to talk about the beginning of the next great depression, and then you get the actual numbers, it kind of knocks your socks off. You struggle to think why did we hear so much woe is me the other side says we heard it because 13 is still unfathomable, but its certainly more fathomable than 20 so, i dont know its good. It is good. The president r
Got the jobs number a half hour ago. European markets have been negative lets take a look at how they are doing at this point. They perhaps have been tipping us into a negative territory and they continue to be by a roughly percent. 10yr new yield, thats a key, of course, look at that, 2. 822 people are keeping an eye on that after that jobs number. There is a look at crude oil back over to you, carl well start with the road map with futures pointing sharp lilo ly lower today the s p 500 could post their worst week in nearly two years apple reported weaker than expected revenue guide numbers jim has some thing with his conversation from the ceo tim cook amazon, the company is reporting its biggest profited history last night boosted by prime customers and echo sales we got jobs and google amazon and alphabet and yield and futures today. We walked in this morning with another premarket scare. I am getting tired of the notion of the export of europe to our market is very wrong. The princ
Thats the strongest of the expansion. Well get to all the numbers of the premarket relatively steady. Europe is mixed. Yields actually if you just heard ticked up on that wage data. Factory orders, rig count and fed speak today still on the way. Roadmap begins with 156,000 jobs added in december, below what the street was expecting. The last jobs number under president obama. First it was ford then it was gm. This time the president elect goes after toyota sending alarm bells across the nation of japan. One retailer reversing the trend, gap shares are surging after a better than expected december helped by old navy. Well get into that. Aside from the december payroll figures, the Unemployment Rate coming in at 4. 7, as expected. And we mentioned earlier average Hourly Earnings up 2. 9 from a year ago, thats the biggest increase since 2009. Participation relatively flat, jim, i know you looked at with the revisions over the past two months people are calling it a bit of a push. I think