what impact will it have on jobs that s slowing down. you show the payroll number from adp was 135,000. last year at this time, that was 214,000 number. we have seen a slow down in hiring. the last piece of the puzzle has been the strongest part of our economy and that s the consumer and last week we got a report on retail sales for august that shows sales slowed in a critical month. that s the back-to-school shopping season. july was revised lower. the dominos are starting to fall at this point and it starts with manufacturing. you have to look at the trade agreement. the trade war and the higher tariffs that s causing it. these things don t occur in isolation. bill, thanks so much. we are not hearing any progress with regards to the united states and china of that trade war. we ll keep an eye on our markets throughout the hour. just ahead, the presidential
may. the unemployment rate ticked up but that s because more people entered the work force. a weak payroll number might have given the fed cover. most believe a cut is coming this month. investors will also be looking for signs of progress on trade. top representativities from the u.s. and china are expected to talk by phone this week with an eye toward restarting talks. stocks have hit record highs since the g-20 meeting partly on hopes the trade war will be resolved. in new york i m alisyn causic. you should be mad that this is your daily commute. you should be mad at people who forget they re in public.
bill: 9:30. the dow is open now. markets open, a short trading day ahead of the holiday tomorrow. 26,845. see that right there? the all-time record close is 26,851. on a shortened day of trading do we get there today? sandra: it would be the dow s first record close of 2019. remember 2018 there was a lot of them. this would be the first record close but the 87th record close and 104th record close since election day if you want those numbers ahead of the holiday. bill: there was a payroll number that came out an hour ago suggesting the private payrolls weren t as high as expected which may give more credence that the fed will do something. sandra: the private sector jobs numbers that gives us an indication of what friday will look like. a little disappointing number and feeds into the expectations
you see not such a great number. you know, we got a private payroll number earlier this week. starting to look like a little cooling in this economy. people say yeah, let s have the federal reserve come in and ride to our rescue and cut interest rates and get this economy revving more, shep. shepard: gerri willis. thank you. it s theresa may s nightmare ending today with a thud. it s her last day as the u.k. leader of the conservative party there after she failed to deliver a plan for brexit. the year was 2016. britain voted to leave the european union. parliament voted against her deal with the union three times. theresa may says she will continue to serve as prime minister until her party chooses her replacement. benjamin hall reporting live. ben? hi, shep. in fact, theresa may made the decision to stand down two weeks ago.
yesterday. let me say on that number on friday, the payroll number from the establishment survey was only 27. so very fluky number. it has a lot to do with the government shutdown and the timing of jobs. when looking at the report, economists say you need to consider at least three months of data to conclude that that is a trend for real. it is also important to remember that the numbers will be revised over the following two months potentially by a significant number. the higher unemployment rate can actually be a good thing, the numbers may be a sign that the economy is running out of available workers, there have been fewer until employed people than open jobs since june 2018. former massage parlor owner who watched the super bowl with president trump reportedly arranged for chinese business leaders to attend a fundraiser. did that violate campaign finance laws. that is next.