The president feels the heat. A shutdown retreat. Stocks rally on debt default jack lew threatens armageddon. Yes, its a fastmoving situation. About half the furloughed workers are back on the job. The benefit from death denial, and world war ii grand canyon shut out. Republican propose a fix, they go to the white house with plan and the wall street journal talks about stocks going straight up. Moments ago, jack lew stokes the fear of default. As of now were inspecting a big gain for stocks. Big day, Varney Company is about to begin. [ male announcer ] once, there was a man who found a magic seashell. It told him what was happening on the tradg floor in real time. The shell brought him g. But then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] righthere in their Trading Platform. [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a. Shell. Get live squawks right in your Trading Platform w
Noted when i came in here, a lot of them are talking about the fact that the prior month had been revised lower. The prior month which seemed like they were good news, in fact, were not as good as they seemed. They take these numbers with a grain of salt. The dow, nasdaq and s p are mixed today. The dow is up about one third of 1 . What is interesting, this will be our third wedding week in a row. They have not been dramatic moves, but last week was pretty slots. Jpmorgan and bank of america are some names on the dow that are holding on pretty nicely. The tech heavy nasdaq down one half of 1 . Adam a lot of people watching that jobs number. Thank you very much. Dennis according to todays jobs report, the Unemployment Rate is down to 7. 7 . The lowest level it has been to since 2007. 23 billion people are out of work or underemployed. Is this a Real Recovery . Michelle girard joins us now. Thank you for joining us. When you see people get excited about this number or the fact it is high
Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. United healthcare online at uhc. Com. And the william and flora hewlett foundation, working to solve social and environmental problems at home and around the world. And with the ongoing support of these institutions and foundations. And. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff our lead story tonight with the clock ticking toward the hour the debt limit is breached, and the government still shut down, a bit of optimism here in washington all but evaporated, and internal disagreement among republicans morphed into disarray. Newshour Congressional Correspondent kwame holman has our report. The focus had been on bipartisan negotiations in the senate. When House Republicans came out of a closed door meeting this morning. There will be no decisions abo
Continuing with his purchases of about 40 billion, also 45 billion treasuries. These guys certainly have not forgotten, benefiting from it. Liz probably not a good sign for global change. Plunging more than 8 earlier today. That is the biggest drop since 2008. This is the index giving investors inside the Global Supply and demand trends by measuring changes in the cost to transport things like raw material. Often considered a leading indicator of future growth. David while gold could not get the pop a lot thought it would, look at oil, up over 1 . It was a little higher, ending off of session highs, but they were encouraged by the fact not only was ben bernanke going to be printing more money but also the china seems to be gaining little bit of steam. Good day for oil traders. Liz purchasing 85 billion in bonds per month saying it will keep rates low until we see the implement rate fall below 6. 5 . That is historic, folks. And then said probably mid2015, which is what they have said a
Hitting an alltime high. Today at six an and a half momes at the moment, 1751. We got in the jobs number for the month, so that obviously was backdated but we finally got it. Now the idea is the fed is not likely to taper. You mentioned the transportation index. We saw it hitting an alltime high for the day, for the year. Up 30 getting a lift from fedex in particular which got an increase from jpmorgan and delta lifting earnings as well. You can see it to the upside. Back to you. Adam thin thank you very much, nicole. Lori u. S. Job growth losing momentum last month. Employers added 138,000 jobs in september. The august upward revision only 9000. All that well below estimates. So where did we see growth . In transportation. Specifically School Bus Drivers accounted for 23,000 new jobs created last month. Temporary jobs are also big gainers. Michelle girard now. Great to see you, michelle. The Research Points out School Bus Drivers are in demand. The School Bus Driver thing was a revers