Street rethinking their expectations for the Big Government employment report out on friday. Businesses added just 189,000 jobs in march, says adp. Thats the first month of gains below 200,000 in more than a year and it was far short of the 225,000 that economists were looking for. And it wasnt just adps report that disappointed today. Manufacturing activity slowed for the fifth month in a row and Construction Spending slipped as well. And all of that weighed on stocks. The Dow Jones Industrial average fell 78 points to 17,698. Nasdaq dropped 20 and the s p 500 gave up 8 points. Todays reports add to a string of recent economic misses but will there be better days ahead . Our Steve Liesman has the answer. Reporter investors riding the market bull these days have been forced to hang on for dear life. As the economy and the market take them for a very bumpy ride. Freezing february temperatures in east have slowed Economic Growth and a strong dollar and weak overseas growth have flattened
Thing virtually all investors are focused on the timing and speed of rate hikes. Central banks benchmark shortterm rate which affects everything from Mortgage Rate to auto loans has been near zero since december 2008 and since theyve been so low for so long a lot of anticipation aboutn liftoff might occur. Yellins comments come weeks before the next meeting and despite the concerns the economy might be slowing. Steve leishman has the details. Janet yellen saying today she believes the rate hike will be appropriate this year if the economy improves as she expects. I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy. To support taking this step though i will need to see continued improvement in labor Market Conditions and i will need to be reasonably confident that inflation will move back to 2 over the medium term. Yellen was clear expectation is for growth to improve,
Rules, a vote of 32, expected here, but we had contentions going into the vote. Basically, what they are arguing here is over the future of the internet, whether internet broadband providers will be allow to charge fees to specific websites for faster lanes and faster access to their own customers. Those websites lobbied against it, and broadband providers lobbied for it. In the end, the loss goes to the broadband Provider Companies like comcast, a parent of this network, and Time Warner Cable and others that provide those services. The debate in the room, though guys that framed the debate over the future of the internet. We have a commissioner, speaking against this skeptical this does not lead to more regulations and taxes on the internet saying it threatens the Internet Freedom itself. Take a listen. The internet has become a powerful force for freedom, here and around the world. So it is sad to witness this morning the fccs unproduce dented attempts to replace freedom with governm
Has many on wall street and main street rethinking their expectations for the Big Government employment report out on friday. Businesses added just 189,000 jobs in march, says adp. Thats the first month of gains below 200,000 in more than a year and it was far short of the 225,000 that economists were looking for. And it wasnt just adps report that disappointed today. Manufacturing activity slowed for the fifth month in a row and Construction Spending slipped as well. And all of that weighed on stocks. The Dow Jones Industrial average fell 78 points to 17,698. Nasdaq dropped 20 and the s p 500 gave up 8 points. Todays reports add to a string of recent economic misses but will there be better days ahead . Our Steve Liesman has the answer. Reporter investors riding the market bull these days have been forced to hang on for dear life. As the economy and the market take them for a very bumpy ride. Freezing february temperatures in east have slowed Economic Growth and a strong dollar and we
Street rethinking their expectations for the Big Government employment report out on friday. Businesses added just 189,000 jobs in march, says adp. Thats the first month of gains below 200,000 in more than a year and it was far short of the 225,000 that economists were looking for. And it wasnt just adps report that disappointed today. Manufacturing activity slowed for the fifth month in a row and Construction Spending slipped as well. And all of that weighed on stocks. The Dow Jones Industrial average fell 78 points to 17,698. Nasdaq dropped 20 and the s p 500 gave up 8 points. Todays reports add to a string of recent economic misses but will there be better days ahead . Our Steve Liesman has the answer. Reporter investors riding the market bull these days have been forced to hang on for dear life. As the economy and the market take them for a very bumpy ride. Freezing february temperatures in east have slowed Economic Growth and a strong dollar and weak overseas growth have flattened