Pretty much in line with expectations. Meanwhile, the Unemployment Rate dropped below double digits for the First Time Since the shutdown, plunging to 8. 4 . Joining me now to discuss this and more, former jpmorgan chief economist anthony chan. Anthony, thank you so much for joining us. You know, the headline number might have been in line, but you get underneath and look at some of the details in this. This is a pretty impressive report, and lets start with the Unemployment Rate at 8. 4 . I think wall street was looking for 9. 8 . Charles, this is a great report from that perspective. I get very excited when i see Unemployment Rates go down. That really tells you that thats going to throw a real breath of fresh air for the American People as they see that were making Good Progress on the Unemployment Rate. I was especially excited about the fact that the black Unemployment Rate dropped sharply, and so did the hispanic Unemployment Rate, which is something that we badly need. The only
1. 37 million jobs in august, pretty much in line with expectations. Meanwhile, the Unemployment Rate dropped below double digits for the First Time Since the shutdown, plunging to 8. 4 . Joining me now to discuss this and more, former jpmorgan chief economist anthony chan. Anthony, thank you so much for joining us. You know, the headline number might have been in line, but you get underneath and look at some of the details in this. This is a pretty impressive report, and lets start with the Unemployment Rate at 8. 4 . I think wall street was looking for 9. 8 . Charles, this is a great report from that perspective. I get very excited when i see Unemployment Rates go down. That really tells you that thats going to throw a real breath of fresh air for the American People as they see that were making Good Progress on the Unemployment Rate. I was especially excited about the fact that the black Unemployment Rate dropped sharply, and so did the hispanic Unemployment Rate, which is something
Or is Something Else to play. We will get into it but as i can see the major indexes down in the nasdaq up 3 . Following reports of the november surprise on a vaccine bio pharmacy ceo pledged to take the over speed when it comes to treatment. Tesla feeling a little dented this morning after getting snubbed by the s p 500 despite four straight quarters of profit the benchmark index says no thank you very much, we will discuss the implications of that. In Washington Congress returns as a stimulus stalemate continues, white house chief of staff mark meadows kelli Maria Bartiromo in the last hour he thinks the deal will get done and soon. We are 56 days away from the election for the battle of the swing state and definitely heating up. President trump touting a rebounding economy as a hits florida and North Carolina today and we will see him leave later this morning. The president is threatening to cut ties with china and issues of stock morning if joe biden wins. And how about this, the h
Say the least after a bit of a rebound the other day when i was on with you, yesterday i was not here for what was a decline overall in all the markets. I think we are in a new era of volatility. Every single time we get an up opening people say, okay, i guess that selloff is over and when we get the printed selloff people say this selloff is going to go on for ages. I urge people to step back and recognize we are in a period where theres a lot of vacuum, a lot of people trying to buy when its going up, a lot of people trying to sell when its going down and just interpret that as just being enthusiasm, greed and then fear and accept it that its here to stay because its really the undercurrent behind these moves. Okay. And what does that mean in terms of this socalled playbook that you often offer people who listen to what you have to say sure. It means that if you think that it is going to bounce today because it was down hard yesterday, dont make the first move wait to see whether the
The nasdaq on track for a 5th week worth of gains here and the dow is erasing its losses for all the year at its highest level since late february, its also having its bests august since 1984. We turn to the Investment Committee for this we have just been seeing green, green, green for it seems like weeks, if not nonts months at this point it is surprising the markets have marched higher the way they have over the last several months since the pandemic lows its not all surprising all the factors were looking at from the fiscal side, the monetary side and the virus side are lining up in support of equity just think about what happened with chair powell yesterday and the historic announcement he made about departure from the prior inflation targeting regimes to this averaging inflation concept. What does that mean . That means rate will be low, low, low for the foreseeable future we think thats two years from now. That is very support ifr five f valuations then you have this fiscal stimu