The n appointment rate held steady at 3. 7 . A stellar performance for the month of july and joining me too react. Equity strategist barry. Gotta get reyour reaction to the Federal Reserve Interest Rates. Let me start with the job numbers. What was your reaction to what we saw on friday . It was a good number. If you think about the use six or underemployment rate dropped to 7 below its 19 years. The number came in line with expectations the economy is strong. Maria the economy is strong and we are looking at the Federal Reserve lowering interest rate. There was some indication that yes, we got a quarter cut this week by the fed but there are more cuts to come. One of the things that weve talked about that there is this concept that they call a neutral rake, tighten or lose. Its like the border between day and night which is dust. The fed crossed the level when the hike to times, december of last year. They took back the december mystic which we said would trigger us and we had a 20 dr
React. Equity strategist barry. Gotta get reyour reaction to the Federal Reserve Interest Rates. Let me start with the job numbers. What was your reaction to what we saw on friday . It was a good number. If you think about the use six or underemployment rate dropped to 7 below its 19 years. The number came in line with expectations the economy is strong. Maria the economy is strong and we are looking at the Federal Reserve lowering interest rate. There was some indication that yes, we got a quarter cut this week by the fed but there are more cuts to come. One of the things that weve talked about that there is this concept that they call a neutral rake, tighten or lose. Its like the border between day and night which is dust. The fed crossed the level when the hike to times, december of last year. They took back the december mystic which we said would trigger us and we had a 20 drop in the fourth quarter. But they really do need to take back september just to return to a level that woul
Coming together. Edward lawrence with the very latest. Reporter thanks for that intro, neil. President donald trump on twitter calling for more Federal Reserve rate cuts to take on china. Also help keep the economic expansion going. The president also saying he expected that drop in the dow this week but also expects ultimately a bounceback. I would have maybe anticipated even more but ultimately it is going go much higher than it ever would have gone. China was like a anchor on us. China was killing us with unfair trade deals. China, what they were doing to us, for years and years, taking hundreds of billions of dollars out, stealing intellectual property, targeting our farmers, all of that ending. Reporter this the price of taking on china now. Add into the drop of the 10year yield, helping the president s case for more rate cuts, falling to a lowest level since october 2016. The trade dispute more than a year old, hotter than ever now. Some experts say this could be a prolonged trad
Down nearly 334 points. The president just weighingin on all of this tweeting moments ago quote what the market wanted to hear from and the Federal Reserve that this was the beginning of a lengthy and aggressive rate cutting cycle. Which would keep pace with china the European Union and other countries around the world. Powell let us down but elysses and in quantitative tightening which should not have started in the first place. No inflation. We are winning anyway but im still not getting much help from the Federal Reserve. So steve, is this fair criticism given the strength of the economy . I think jay powell is simply trying to save face. He had to reverse himself for from last year and now he is saying , we will do it our own way. But there will be another cut by the fall. Kind of a big yawn. December should have happened i dont think today should have happened. Today is just a reverse, one thing that should have happened there for the second thing had to happen. Im not so sure we
Golden gate bridge. No fog. Were not looking at the marine layer but there is a whole different kind of cloud taking over the bay area. Look up. Youll see it. A unique view for us this morning. 65 officially in the city today. A few high clouds and one degree warmer than yesterday and slightly less windy. It will still be breezy in the afternoon, but just not as much as yesterday. Re of this forecast in a bit. Emily, how is the drive . It looks good although were heating up on the bridges. Lets take alive lack out to the san mateo bridge where youre starting to see added volume. Not too many brake lights though so youre moving along in the right direction. A little bit slower than usual, but nothing stopping you in that commute. In the eastbound direction, everything there looks good to go. Now off to the bay bridge where it is obviously friday out there. The metering lights are not on. Youre smooth sailing as youre headed into San Francisco this morning. Not a thing to worry about. No