Then a showdown between president obama and Russias Vladimir Putin as World Leaders gather for the g20 meeting. Syria tensions dominating those talks. We are live at the summit in st. Petersburg. Simon hobbs is my pattern and hes at the new york stock exchange. Hi, simon. For those of you tuning in, welcome. We have great data today with one small exception. Obviously the economy is front and center as we gear up for tomorrows employment report. We have three separate reads on the labor market, the adp report showing the private sector with 176,000 jobs in august. That figure is very close to the consensus estimate tomorrow of 175,000 job gains, too. Separately we did get a report from challenger that says job cuts since august surged to the highest since february. But the number of americans actually filing for new claims for Unemployment Benefits fell get this to a fiveyear low. And the fourweek moving average is now at levels we have not seen since before the recession. As if that w
Three previous months. Still last time dow hit a record, unemployment was at 4. 7 . Today that number is at 7. 9. Starting next month, Airline Passengers will be allowed to have small knives and other items in their bags. Security restrictions will be eased so screeners can look for explosives. The policy is more in alignment with international standards. It could reduce waiting times. So what will be allowed . Folding knives less than 2. 36 inches long. Golf clubs and other sporting equipment. And novelty baseball bats under 24 inches and 24 ounces. Union employees say the new policy is dangerous. But the tsa says locked cockpit doors and air martials provide additional security. Venezuela is planning to elect a new leader after the death of hugo chavez. The 58yearold died tuesday after a battle with cancer leaving behind a divided country with deep economic and social problems. His death leaves washington wondering if relations with a new leader will be any different. Nbcs mark potte
Welcome back, everybody. Lets get wack to our guest host, howard ward. Howard, this is a big day for you, not only because youre a squawk guest host, but because youre a grandfather for the first time. Congratulations. Did you sleep last night . Yeah, about 1 00 a. M. In the morning. Mother and father are doing well. Grandparents are doing well. Grandson, too. Grandson, foo, most important. Not named yet . Yeah, he snuck in there a little bit of ahead of schedule, so the parents are working on the name. Again, though, your thoughts on the market, you like constructive. No need to chase it here. The fire sale is over. There are still a few names that are on sale. Dont go against the grain. Apple is going to earn more money this year than any other company in america. Thank you. Congratulations again. Join us tomorrow. Squawk on the street begins right now. Good wednesday morning. Welcome to squawk on the street. Were live at the new york stock exchange. The morning after the dows record
Thats a big deal. If it is true that the new cia director doesnt think the cia should be killing people with drones, that the military should be doing it instead, thats a big deal. But you know what would be a bigger deal . Is if the president agreed with that. Should we see the president s nomination of john brennan to run the cia as a sign that the president agrees with that and that that change is going to happen . I believe so. The nomination of john brennan should be seen as a sign that president obama may take drones out of the hands of the cia and put them under the control of the military. That would make drone strikes like normal war and not the secretive, unaccountable, denied truth that they are right now. If that is what this nomination means, and this nomination goes forward by the end of the week, our whole country is going to change in terms of how accountable our current war is to we, the people, to whom it is supposed to be accountable. Exclamation point. Now that the
Put investors in a sour mood. Behind the selling a strong showing in italys elections by groups opposed to economic reform, on top of that, u. S. Equities face a looming friday deadline for massive government budget cuts, known as sequestration. The dow tumbled 216 points, the nasdaq fell nearly 46, and the s p 500 lost 28 points. While theres been much talk of a correction in the stock market, sequestration may not be the catalyst. Suzanne pratt reports. Reporter it is widely accepted on wall street that sequestration is coming. And, with it a new reason for the fragile u. S. Economy to sputter. But, what will the first phase of billions of dollars in federal spending cuts actually do to the u. S. Stock market . After all, major market averages are hovering close to alltime highs, and dont forget investors are finally warming up to equities again. Floor broker art cashin says todays selling was mostly a reaction to italys election, and that the stock market is not yet focused on seque