The across the middle east. Im the world thousands of protests just a moment and israels, and so ive gone through the, the monitoring of how much theyll cost some of the games has released to americans who have taken captive during the groups attack on israel. On october, the 7th, the 2 civilians are mother and her daughter and on now with is radio authorities. They all cut some of the gave say they were released in response to category mediation efforts. When he was such a state anthony blinking as brief report as on the efforts to release people held by hamas and gauze. The urgent work to free every single american to free all other hostages continues. As our work to secure the safe passage out of gaza. For the americans who were trapped there in this particular instance, i want to thank the government of cutter for their very important assistance. While im asked as issued a statement on the release of the american saying in response to katara efforts, ill pass on brigades release to
We have a mega deal in the oil patch. And is it the time to buy tech . Citis upgrading the global tech sector, suggesting a recent pullback might be a good opportunity. Well talk through that as well. Lets dive into the jobs number. As we said, 336,000. We were looking for somewhere in the 150,000 range, jim. Hospitality, up 96. Government, up 73. You cant stop this thing. Hospitality is very interesting because a lot of the people feel the travel and leisure bull market ended two months ago, and yet its just the analysts. Because whether it be cruise, hotel, restaurant, the numbers are great. And everyones just predicting, well, that cant last, cant stay this way, and its always the same litany. Its student loan, consumer strap. It hasnt happened yet. What youre seeing are numbers which are still indicative of what the companies are saying, not what the analysts said the companies are going to say. No gibberish here. This is this economy is so hard to kill. It really is. You know, do
Thats where were going to start, because thats where the pain was being felt, but now services green, financials green, tech green, health care is green, as well. We were going to say tech was mostly lower, the gain in nvidia not enough, but as we said, the situation continues to change which is why we have to watch this final stretch is closely. Our talk of the tape, when will stocks stabilize . Are they in the process of doing that. Is tomorrows jobs report the key . Do we have to wait for earnings or beyond that. Lets ask the Wharton School professor Jeremy Siegel who joins us from philadelphia. Always good it see and talk to you. Good to see you, scott. You know, market is changing and a lot of people are concerned were in the most of moving lower because rates move higher. How concerned are you right now . Well, i think there should be no question now that fed should be done. Weve had almost 50 basis points of tightening on the long end since last meeting and by the way, tightenin
Up his sleeve . Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, karen finerman, dan nathan, and guy adami. And we start off with a stat we havent seen since the turn of the century. The average rate of a 30year fixed mortgage climbing to its highest level in 23 years. And Monthly Payments are rising at a staggering rate. Cnbcs diana olick has the details. Diana . Reporter melissa, Mortgage Rates have been on a tear, and there appears to be no relief in sight. The average rate at 7. 65 today, according to mortgage news daily, up from 7. 08 just a month ago. And up from 2. 8 two years ago, which was the record low. To give you an idea of what that means to a home buyer today, well, if you were going to buy a 400,000 home with 20 down on your mortgage payment, is now 920 per month more than it would have been just two years ago. Add to that higher home prices and you can see how affordability has just been crushed. Now, we saw it in the pen
Down 1. 3 for the s p to 42. 82 the nasdaq the laggard down 1. 3 as you might imagine, big tech names are leading the way lower. Amazon, google and oracle seem 2 to 3 declines today more on that trade coming up. Also on the housing front, another weak number out today. New home sales down 8. 7 in august the Home Construction etf down nearly 9 just this month. Big bio tech mover to tell you about, soaring 90 immunovant. It could be an effective treatment to many auto immune diseases. As we mentioned the autoworkers strike heating up and getting more and more political. President biden, joining the picket line earlier today. And we sent two of our best there as well. Phil lebeau and Brian Sullivan phil, lets begin with you tell us where things stand reporter oh, about half hour ago the president wrapped up his trip to a gm parts and Distribution Center not far from here in bell vil,ville, michigan this is what it looked like as the president was greeted by a number of uaw members walking