For sirera iara eisen. What recession a better than expected jobs report started the morning with an optimistic tone china says it has reached a consensus with the u. S. In this weeks trade talks and exxon ticking higher along with industrials and financials. And in just a few minutes, the actor who plays logan roy on hbos secession will join us on the cutthroat world of media competition. Hes going to be right here at post 9 joining us for the hour is kara fineman. Here we are sitting basically at the highs of the session i found it really interesting that yesterday the markets got pretty derailed by worries that the trade talks werent going so well today we have an agreement of principle and we really didnt move so much we have that other data out today, so its hard to really parse what to me, this kind of day seemed pretty goldilocks. You had a really good jobs number in the morning, right you had progress on china. Although ive got to say, im skeptical on every update that we get a
Misses expectations. Casp casp the ceo the tariffs are entering into the game. It will be a loselose for companies and regions. Best in a decades. Zurich hales a strong first half and strikes a bull iish tone on the outlook. The ceo says cost cuts have begun to pay off the change in portfolios in Property Casualty and we continue to shape our life portfolio to be neutral to the Financial Market situation and to provide risk coverages to our customers. A warm welcome to street signs. It is thursday, it does feel like friday after some of the market gyrations weve had over the last 24 hours. Yesterday was a tumultuous day across the board, across all different asset classes. Lets talk about some of the u. S. Equities price action the biggest comeback for the year across wall street. At one point dow was about 2 weaker, almost 600 points lower on the day it spent the rest of the session clawing back up slightly ending in the red yesterday below the flat line. S p and nasdaq did manage to
1. 4 hang seng was up, and the kospi up in europe, things are relatively flat. Dax is down. And the cac is weaker. Crude oil prices on a tear this morning it is up again with wti trading. Can i say hello to everybody. We havent been all together awhile, kind of nice comfortable pair of loafers im wearing sneakers today. Theyre more comfortable than loafers. I dont feel like you have to do much to look better i can come in. Sneakers and no socks this is like sweatpants, when seinfeld wears sweatpants, youve given up. Let get you to the morning headlines. Heres whats going on in Corporate News peltz fighting for a board seat at prak tore and gamble. Theyll launch a proxy battle. Hear about it within moments my expectation is hear about it coming across the sec with a filing in a moment the move would make p and g the largest to face a proxy contest. Last week they rejected the request to name mr. Pelts a board member he is one of the biggest shareholders, second biggest roughly holding 3
Of average. Take a look at what this is doing to the markets at this point. Well, you know, weve we came back yesterday. You can see we are looking for a slightly lower open as of now. European markets already in session. And on the closing end of their day you can see kind of a mixed session over there. This is where we may see the most move is in the tenyear note yield. You might expect of course the expectation the feds going to move now in june has fallen dramatically. Will it even be july. There it is, the yield now 1. 72 . Weve been sitting of course a good 10plus basis points higher than that until this number came out. Weighing on the may payrolls of course were job losses in construction, mining and manufacturing. Even without that verizon strike, payrolls would have only increased by 72,000. You may recall verizon had 34,000 employees on strike. The Unemployment Rate though fell to 4. 7 . Now, that is due in part to people dropping out of the labor force. Average Hourly Earni