What, what have we got here, 8. Revenue up, ad sales up, profits up, and there are now 2. 45 billion active monthly users. It was a spectacular report. Stocks up. These two stocks are helping the market but a statement from china has put a damper on things. Beijing says its doubtful that a longterm trade deal can be reached. China concerned about the impulsive nature of President Trump. Where did they get that from . The dow industrials down about 50 at the opening bell. S p down six, a fractional loss for the nasdaq. Then theres politics. Namely, the vote in the house this morning, starting the impeachment process. This has consumed the congress. It has not consumed the market. It seems to be ignoring d. C. Entirely. We will follow it and pay special attention to votes of moderate democrats from trum trumpleaning districts. Will they approve removing the president from office because of a phone call to ukraine . Cant wait to see. Stay right there. Varney company is about to begin. The
Power lunch starts right now taking a look at the markets. A bit of a mixed bag now back to the highs of the day. The nasdaq hitting a record level. The s p has yet to make its mark its still just barely sitting in the red melissa. The dow getting sent to new record highs to some surprising news on a dow component. Bob is at the New York Stock Exchange with the latest walgreens is reported to be exploring a potential going private deal with buy out firms. Thats according to reuters. This was halted on the nasdaq for volatility, not news pending. Its reopened up about 3 as for the broader market, a bigger break out may be near were only 10 of the s p at new highs. That could be about to change. Were seeing a significant number of stocks 2 or 3 below the new highs. Thats close enough to produce expansion. Big names shy of new highs discounters like walmart and ross stores. Home Improvement Stores like home depot. Some of this may be due to tax loss selling at the end of the month abating
Key read on manufacturing in the next hour. Plus, streaming wars, apple launching its tv plus platform today. It is the latest volley in the original content battle between media and tech giants. And pinterest plummeting, losing a third of its value since peaking in august. And the Growth Strategy for starbucks, Kevin Johnson will join us first on cnbc this hour. Lets get to the jobs number, october payrolls well above expectations at 128k despite the gm strike. Unemployment goes down goes up to 3. 6. Wage growth 3 from a year ago jim, hard to find things to quibble about this month im going to come back and say youre going to have a the beginning of cracks in manufacturing. There is still two economies the twothirds of the economy that is consumer is doing very well the other third is not doing well and we can i dont know how long we can go with only twothirds i think pretty long. But when you if if they shut down boeing 737 max, youll see very different numbers i just think these num
I filed my payroll taxes. And the restaurant wage theft was one of two areas of focus. The other being construction. I felt like i was doing what i could to represent an industry that was trying to respond well to an issue which is really ironic. And bums me out. At the very same time, businesses that sell food to our customers through Online Platforms were setting up business in San Francisco those very same years. And they were setting up their businesses on a framework that was beyond wage theft that was fundamentally exploitive of the labor pool by classifying workers. So the commission that the businesses take in our Free Market Society are well beyond the range of margin that a restaurant has, which is anywhere from 0 to 6 , so a 20 commission is well beyond that. Im post to ask you what your priorities are and who your customers are . In the way that we regulate [bell ringing]. Supervisor fewer thank you very much. Next speaker, please. [applause] good afternoon. My name is bria
Were trying and there has been changes around process, that are intended to address the issues, but it also sounds like that wasnt reflective of the experiences that a lot of people are having. And that actually we can do more and better. So one of the things i would hope would come out of this. Showing the commitment based on what theyre telling us. I think thats something that is clearly needed when we have this commitment to doing better, but thats not experience, at least at the level its needed. I also think there is a lot of different departments that folks need to deal with. And so i was interested in the beginning from oewds perspective, where is that single entry point to make sure that you have the full support of this building and the city government, as you have to navigate these multiple departments. And really making sure that were having the efficiencies. So what does that look like . Also seems to me like, there is opportunities for really more specific and substantial