That the Trump Administration getting close to that final list. As we are looking at the major averages, we have seen them tick up a little bit in the past hour or so. We had been seeing a mixed picture and now all three major averages are at records. Seeing fairly tight ranges in terms of the trading ranges for them, so a pretty typical playbook. Andumer discretionary staple stocks are leading gains in the s p 500. On the downside we have the Solid Waste Management companies. Analyst Michael Hoffman downgrading his rating on the sector. He says there are headwinds from and plummeting prices for recycled paper, so that is weighing on the companies in the sector. Waste management and advanced Disposal Services are examples. The best performer on the s p 500 is mylan, shares are soaring after the company got fda approval for the first generic copies of the best selling multiple sclerosis job drug. Teva andig seller for brought in sales of about 3. 6 billion. Mylan will have exclusivity f
Really should be getting a lot of focus i know were talking a lot about small caps and all the talk about the f. A. N. G. S building, visa, apple, mcdonalds all great years and now the transports have joined along as well. The transports were just waiting there, waiting to move higher they were down 25 , 30 boss so as the market looked like it was fine, everything was great they were getting pummeled so over the last week they started moving up. Delta yesterday came out and said, you know what. The hurricane is not that big of an issue they still gave better guidance so i think, you know, as pete has been saying and trying to get me to put more money into the market. You should. Ive been doing it on dips it i like to buy on dips rather than highs but nothing wrong with that, pete. Not when the highs go higher. When you get a new record every day. The highs keep going higher so then what do you do in the highs keep going higher. You always look for opportunity. Thats what we talk about
Delivering goods on amazons plans to drop fedex and ups and do the shipping itself. Betty there is not much that amazon cannot do these days. We are watching headlines from Christine Lagarde. She is at a conference in boston the head of the imf meeting next week. Theis making comments on tax reform plans here in the u. S. , saying deficit widening tax changes are not advisable. That is an understatement. Globalization is a baggage word left for those kind. Also come a surplus nations must take advantage and invest, return that money and invest. Also noting the imf is accommodative of the boj and ecb. Interesting, very timely coming from lagarde. Especially come of a past the budget resolution. One step closer to some kind of tax reform from congress. That big test will be when the Senate Continues to stick with the proposal we do see. They are not as keen when it comes to budget deficit. Similar to what were hearing from lagarde. It is surprising come other republicans that are suppose
Getting real wage growth. 2. 9 wage growth is the headline. I think that is good for american workers. Looking at the wage growth, the unemployment number is the bright news. Janet yellen said in a healthy labor market wage growth is between 3 and 4 . Wages begin to rise towards 3 , they certainly are. Slamdunk infed is a raising rates in december. This confirms a story permeating the market. The fed has said they will tighten, therefore december is pretty much in the bag. I think people will rightly interpret the second move. They will go in december. Two and three times next year. Jonathan joining the is oksana, from j. P. Morgan asset management. Head of american fixedincome strategies. Coming to us from edinburgh, Senior Investment manager at aberdeen standard investments. I want to begin with payroll report. The estimate was 80,000. 33. Number was wage growth came in hot. 0. 5 month on month. Almost three Percentage Points of the year on your figure. George, it was a whether impai
Will they moved their headquarters from catalonia . You are seeing the selloff continue on the periphery debt, 2 . Ish yields up about sterling, this is one for you, year. He worst of the can headlines get any worse for theresa may . Jonathan i think that is theresa mays cross. David if they can get worse for her, it will. It is jobs day and coming up at 8 30 a. M. We will get september data from u. S. Nonfarm payrolls and Labor Force Participation rate. We will hear from the fed president s. We first want to focus on the jobs numbers and turn to julie hyman in washington, d. C. She will get the numbers before we do and she will come tell us at 8 30. What are you looking for . Julie what we have been looking at, the hurricanes will make this not a very normal jobs report. There will be a lot of what economists like to call noise in this report because of the various hurricanes. Harvey made landfall august 25, irma september 10, and the survey period ended slightly after that. The nonfa