Of true detective. We have hit a milestone in the economy. American companies have shaken off the great recession. Fridays jobs report shows the number of private sector jobs is now higher than the pretty recession peak. The prerecession peak. Mike mckee is joining me, we should be celebrating . The 192,000 jobs we got friday put us 110,000 over recession peak for private sector employment. In january 2008, it has taken us this long and recover. It is only a partial celebration. The economy would have kept growing had we not had the recession and there would be even more jobs. Sequester, the government has been cutting jobs or keeping them at an even pace. Who in the private sector is hiring . Exactly where you would think. The story of the recession so far has been mining and logging. Mining has jumped for 21 . North dakota and those places where they are exploring for oil. Education and Health Care Services hired throughout the recession. Professional services, this is interesting. A
End of the obamacare website still not fixed. By the way, moodys downgraded the Insurance Companies today because of this. This mistake could cost taxpayers a fortune. Speaking of taking a hit, check out all the red arrows on wall street today. We had a big selloff and i think the fed fears may be backing the market. Finally a very special guest this evening. Blues traveller front man john popper is going to join us live to talk about shockingly low payments song writers get now for all their work. All these stories and more coming up in the kudlow report right now. Lets start with the big selloff tr if the stocks. Dow down 176 points. What caused the big drop . Lets go to Cnbcs Bob Pisani on the floor of the new york stock exchange. Good evening, robert. It was not a good day for the markets. It started overnight when chinese manufacturing numbers came in below expectations. The chinese data was weaker than expected for a few weeks. Why cause china matter so much . Emerging marks are
Kerry says hes had an exchange with china. This has a latest report suggests chinese a hackers broke into government networks. And machinery orders drop nearly 20 in japan. Hopes for a Capital Spending recovery phase. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. And a warm welcome to worldwide exchange. Lack of insight from the fed minutes yesterday on timing. The u. S. Rates, giving a boost to u. S. Stocks yesterday. Europe, not really falling through. Red to green in the session today, taking the stoxx europe 600 down 0. 1 . A muted start to the trading day today. That doesnt mean we dont have some interesting movers across the board. The uk markets relatively unchanged today. We see shares in the luxury retailer, bur bury trading higher after a set of sales numbers, despite double digit growth in the quarter to the end of june. This despite a warning that apple Foreign Exchange rates may hit profits this year. Right now, that stock i
Less housing for other residents. Good morning, im Erik Schatzker. Im stephanie ruhle. I have been out of the loop. It is time for me to get to the news, i have to get up to speed. I love talking 7. 7t the story, they spent billion dollars to buy the maker of jimmy dean sausages and ballpark hotdogs. It is another move by tyson to expand into highmargin branded show packaged foods. Merck will officially by the Pharmaceutical Company for nearly 4 billion. The valuation is three times higher than its current price on friday. They are working on a new treatment for hepatitis c. And craft raise the prices of coffee products. The increase was about 10 , citing gains in the green coffee market. The price of coffee has surged more than 55 this year, as brazils worst drought in five decades throws losses on the coffee crop. Dont believe every story you hear about how bad businesses on wall street. Down, it is hard to generate a handsome return. But investment inking is on time banking is on fi
Months. Our road map results with boeing, more planes delivered while cost cutting is paying off. A tale of two markets. U. S. Results disappoint. Weather had an impact. What about the waffle taco . Gilead beats, amgen dropping after the steep selloff in biotech stocks, is the worst over or just beginning . Is it legal . It is. Is it front running some were going to hear from bill ackman on his host still takeover tactic teaming up with valeant to bid for allergan. Exclusive comment from activist carl icahn. Lot of numbers. Boeing reporting earnings 1. 76 did Beat Estimates helped by an improvement in Profit Margins but when raising their full year Earnings Guidance and Procter Gamble reporting a Quarterly Earnings beat slight revenue miss. The cfo on squawk box this morning. Global growth in our product categories is about 3 . We maintain mark share in the quarter we had and consumers around the world remain very responsive to value creative innovation like laundry products, like some