Tyler, we begin with the selloff on the street. A triple digit drop for the dow with the major averages down more than 1 . This is actually we havent seen since late september for the dow and the s p. Weve been sort of a little bit complacent recently after all the volatility of late august and september. The nasdaq is down by just over 1 along with the dow and the s p. Lets get more with bob pisani at the nyse because you have fears, bob, about retailers reporting this week as well as, of course, the rate sensitive stocks in the firing line as well, right . Thats right. A number of different issues here. Six stocks declining for every one advancing. Look whats popped up again, the vix. We havent seen this move double digits since the end of september. Its 16 and change. I dont get concerned until its over 20, but this is a move we havent seen in the last five or six weeks. Why the drop . Mandy is right, a couple reasons here. There is continuing concerns about the reverberations on hi
In reaction to that jobs number, it was off about 350 points midday. The nasdaq dropped 49, and the s p 500 fell 29. The concern in the markets is what it has always been, the timing of a rate hike. And the stronger the number, the greater the possibility the fed could raise rates at its next meeting in just two weeks time. The economy created 173,000 new jobs last month. Fewer than expected. However, the Unemployment Rate at 5. 1 was the lowest in more than seven years. But as Hampton Pearson tells us, what the fed does next is anything but definitive. Reporter in august, headline unemployment fell to a sevenyear low, but hiring was the slowest in five months. However, job growth for the last three months has averaged 221,000, after the government revised job growth upward for june and july by 44,000. But wage growth at just over 2 over the last year is still below normal for recovery. Lots of americans remain on the sidelines. At 62. 6 , the Labor Force Participation rate remains at
In reaction to that jobs number, it was off about 350 points midday. The nasdaq dropped 49, and the s p 500 fell 29. The concern in the markets is what it has always been, the timing of a rate hike. And the stronger the number, the greater the possibility the fed could raise rates at its next meeting in just two weeks time. The economy created 173,000 new jobs last month. Fewer than expected. However, the Unemployment Rate at 5. 1 was the lowest in more than seven years. But as Hampton Pearson tells us, what the fed does next is anything but definitive. Reporter in august, headline unemployment fell to a sevenyear low, but hiring was the slowest in five months. However, job growth for the last three months has averaged 221,000, after the government revised job growth upward for june and july by 44,000. But wage growth at just over 2 over the last year is still below normal for recovery. Lots of americans remain on the sidelines. At 62. 6 , the Labor Force Participation rate remains at
In reaction to that jobs number, it was off about 350 points midday. The nasdaq dropped 49, and the s p 500 fell 29. The concern in the markets is what it has always been, the timing of a rate hike. And the stronger the number, the greater the possibility the fed could raise rates at its next meeting in just two weeks time. The economy created 173,000 new jobs last month. Fewer than expected. However, the Unemployment Rate at 5. 1 was the lowest in more than seven years. But as Hampton Pearson tells us, what the fed does next is anything but definitive. Reporter in august, headline unemployment fell to a sevenyear low, but hiring was the slowest in five months. However, job growth for the last three months has averaged 221,000, after the government revised job growth upward for june and july by 44,000. But wage growth at just over 2 over the last year is still below normal for recovery. Lots of americans remain on the sidelines. At 62. 6 , the Labor Force Participation rate remains at
Retailer tesco to announce it overstated profits by over 400 million. The g20 finance ministers are wrapping up meetings in australia saying they are close to adding an extra 2 trillion to the economy, but the group is warning that europes slowdown remains a major stumbling block. And it is playing out if we take at what is happening with the u. S. Equity futures. Right now the dow futures are down by 28 points below fair value. The s p futures are up by 7 points. Although, andrew, this is an improvement from earlier this morning. Yes, it is. Thank you for that. As joe was telling us, it is a merger monday. Its already shaping up to be a busy monday for deals. Just crossing the tape this morning, germanys merck buying sigmaaldrich. That company is valued at 17 billion. Thats a huge deal. We have both executives from both companies to join us first right here on cnbc and well have that interview at 6 40 a. M. Eastern time. Also, it is official, siemens is buying u. S. Oil field maker dr