Reaffirmation on the American Labor economy in this hour, claims, and all of the various numbers that come out with it. Forget about the markets. Forget about the chancellor of the exchequer actually dealing with the United Kingdom labor market. It is a question of millions out of jobs. Jonathan permanent job losses as well, and permanent shifts in the economy. Thats got to be my big take away, government confronting the idea that perhaps we are seeing permanent shifts in the economy, and they need to allow that creative destruction, the powerful transformation of capitalism to take hold and maybe step back a little bit more. Ive got to say, some people will push back aggressively against that and say this is a pandemic, it will pass, and perhaps we will get some return to normality. That will be a debate for the several weeks, months, and hopefully not the next several years. Tom david kostintom will join us from Goldman Sachs with an important discussion on the equity markets. Future
The ceo of tripoint homes joins us with a look at inventory and the impact of rising Interest Rates. The dow down more than 200 points, hovering near session lows its been a rough week the s p is flat, but the nasdaq, the outperformer today, bouncing back from yesterdays rough session by about 88 points amazon, the big tech gainer, shares there up nearly 8 on the back of earnings more on that ahead that is helping the rest of the tech trade apple on deck, of course, to report next week and everybody watches that one lets begin with the latest read on the economy and steve liesman, we have had a lot of data this week, steve. Yeah, its been a good one, tyler, if you are an economics reporter even if you like the economy, because it was mostly stronger growth, growth tended to exceed estimates with inflation, however, remaining sticky. But curiously, fed rate hikes are now less in play, as ill show you in a seconds on the expectation that the robust economic readings wont last core pce pr
The hang seng market was up and so was the shanghai. The dax was up by 1. 4 . The cac up by 0. 9 . The ftse up by a quarter percentage point. If you check out crude oil prices, youll see crude oil is under significant pressure once again today. Down 1. 38. Down below 47 a barrel. 46. 98 is where the july contract for crude is trading now. Lets get you through todays agenda about the labor market. May jobs report out at 8 30 a. M. Eastern time. Nonfarm payrolls forecast to ride by 184,000. Thats following an increase of 211,000 back in april. The u. S. Economy added jobs for 79 straight months. The Unemployment Rate expected to hold steady at 4. 4 . The lowest level in a decade. Russian president Vladimir Putin will be speaking in st. Petersburg at a forum alongside several other World Leaders including indias modi. The session will be moderated by nbcs megyn kelly. That begins at 7 00 a. M. Eastern time. A programming note, sunday night megyn kelly has an interview with the russian pre
male announcer this is the bay area news station, kron 4 news starts now. See reporter now at eight we are tracking a major storm heading into the bay area. Tonight. Preparing for the downpour and trying to avoid blackouts. Its all hands on deck whoosh reporter one big concern; that 30 foot sinkhole in pacifica. Reporter we are live at the scene where crews are racing the clock to make sure a bad problem doesnt get much worse. Whoosh reporter go on the green. Stop on the ed. Reporter unless you are this driverless uber car. Reporter says about its redlight running robot. Whoosh reporter bay area musicians coming together to benefit victims of the the ghost ship fire. We will take you live to oaklands fox theater. Reporter youre watching kron four news in prime time. Pam now at 8. Pam we are tracking a storm set to bring heavy rain and strong wind gusts to the bay area. Steve thank you for joining us im steve aveson. Pam and im pam moore. Pam that storm is on its way. Potentially danger
Mark lets get the bloomberg first word news. Here is sebastian salek. Sebastian theresa may says parliament should be allowed to taking britain out of the european union. Seemed to come after they dumped the pound of a concern the pm was taking a gung ho approach. By a third following the note 7 crisis. The company said profits will come in at 5. 2 trillion one, won, down. Llion donald trump has gone on a twitter offensive, blasting Paul Reid Paul ryan as weak and ineffective. The shackles have now been taken off of him after ryan condemned his comments about women. The nominee continued his campaign speaking in panama city. This election will determine whether we remain a free country , or we become a corrupt, banana ublic controlled by large and foreign governments. The election of Hillary Clinton would lead to the destruction of our country. Againstn fraud charges to a junk rating according to investors. The possibility of an increase in borrowing costs back on the table. He was sum