Evacuate power lunch starts right now for everybody in Southern California, its been a tough couple of days thinking of you guys the jobs data getting a bump to the bottom line. The nasdaq the bigger winner crude oil had been up 2 before it pulled back the rig counts, by the way, are out any minute now health care related. Alexon and celgene and mylan up as well. Another hot stock today, Sage Therapeutics this is on top of yesterdays 70 gain and the ceo will join us in just a couple of moments and steve, no shortage of stuff to talk about today. No. Very excited, brian. Especially with the jobs report. Lets get to it. Its getting to be routine economists say it should slow because of the population growth, theyre right about that part but the job market keeps surprising to the upside nonfarm payrolls up against an estimate of 195,000. October, september revisions not up much. Hourly average wages up just 0. 2 . And the Participation Rate also at 62. 7 Goldman Sachs saying despite the s
Tries to recover from yesterday. The premarket is up. Alcoa and pepsi on the tape. They continue to lean on short siders. The tenyear is up and crude is up and oil is back. The imf trimming the global and u. S. Forecast seeing World Economic growth of 3. 3 for the year. U. S. Growth seen as 2. 5 compared to a prior 3. 1 . Not a surprise echoing what the oed and others have done. You have Christine Lagarde telling our fed, guys think twice before you raise. You is want to remember they are a tough organization. There is a lot of feeling the imf must be a bunch of softies. They are very tough. They are very concerned. Merkel is the naernperson that can shut down greece more than Christine Lagarde. It confirms what people felt was behind the two days ago rally, the fed wont be tightening. When you dont talk about them you start getting a little emboldened. Not to say you like the setup. This market is not suitable for a lot of individual investors. I do think when you criminalize short se
Yeah the average making new highs. Dow at the best number of year f nasdaq climbing 3 it lulls you into believing this mark cant possibly be hammered. Those are often the most dangerous of times what happens if north korea tests a missile and it did you know clear japan but land in it . How about if we get a return of president trumps old vie tilt of the white house the market keeping off i dont think we can discount any of these things or even something far from left field or even a cyber attack. The ceo somehow crazily remains at the helm after what maybe the worst data breach in history when it comes to our finances, we got to stay vigilant. Theres also something bad that can happen im saying the recent streak of positive is highly unusual, maybe as unusual as whats going on with the tribe in cleveland even as it makes plenty of sense in this lower inflation, we dont know how long that lack of negs can last. Heres what im urging you to. First dont get cocky. Second alone let third d
With earnings from oil majors amazon, alphabet futures are a little bit positive. Europe a slight loss at the moment. Tenyear close to fivemonth highs we got yesterday. Road map begins with amazon shares falling after that miss. Big spending abroad cutting into bottom line, one bright spot is aws. Googles parent alphabet sees profits rise in mobile and video advertising. Shares poised to open a bit higher this morning. And ge in talks with baker hughes on potential partnership. Baker hughes rising on that news. But first up, amazon falling on quarterly miss amid higher cost increased spending on warehouses, Digital Content and other areas. Holiday guidance also weighing on the stock. Amazon web services up 55 in q3, but were deep in the investment cycle here. Theyve opened 23 warehouses since july. Only three in the first half. Well, i think people have to recognize theyll look at amazons run and theyll say why didnt i participate in amazons run. What kept me from doing that . And the
The opposite playbook of what we saw with the rally last week. Il leading the declines all three major averages close to the lows of the session. They are falling along with oil today as we see that correlation come back into effect in todays session. Oil down by 4. 5 . We have the Saudi Oil Minister speaking at a conference in houston earlier today saying no plans to cut production. There did not seem to be high expectations. There is disappointment that appears to be affecting the markets. The saudis welcome the west show business and they are happy that there are exports that would allowed that will be allowed from the unite states. You note about oil see 31. 90 which appears to be a higher price than yesterday. On the day, oil is lower near that april some of what we are seeing if stocks are down, people are buying stuff they view as safe. It has not been that straightforward today. Yes, we are seeing a bit of buying of treasuries, but it is a very little bit. Earlier today come we