Happy friday and welcome to squawk alley here at post nine sara eisen and andrew ross sor again. The u. S. Economy losing 33,000 jobs in september, with hurricanes having a major impact on hiring, while employment, unemployment rate, did see a slight drop, all as stocks continue to hit historic highs with the s p 500 looking for its ninth straight positive session. Its in the red right now, but lets see what happens throughout the course of the day. For more, diane schawn, and ryan levet, Senior Investment strategist welcome to both of you diane, the market may be the bigger story here coming off this amazing stretch that we havent seen the likes of since 1997 sixth Straight Record closes for stocks does the weaker jobs report, at least on the headline number, do anything to derail the story of better growth and higher stocks . Well, i actually think the stock markets probably reacting to the fact they think the fed may now delay a rate hike at the end of the year or in january. I stil
Both up this morning crude oil, it is still hanging in there right below that 50 mark, of course and theres brent crude as well. Lets get to the road map. It does start with that market coming off a record breaking rally. The question of course, will it continue and big changes at ge the new ceo making his mark on the company as a new investor joins the board. A nail in the could have infor tax reform a top gop senator warns that President Trump threatens world war iii. The markets looking to continue its record run with the dow and s p in the midst of a fourweek winning streak but Technology Closing on friday at the new record high. Bar beingiring a large selloffe trump dow rally ochb track to surpass the 23. 3 gain posted in the year following the election of George Herbert walker bush. One would imagine we will hear tweets or get tweets about that the minute it happens. It is a major accomplishment and were coming off another week where all three major averages closed up a percent a
And cofounder Roger Mcnamee good morning to everyone the pressure against big tech is not letting up uk Prime Minister theresa may making news saying her cabinet is considering regulating facebook, news organizations this has facebook ceo Sheryl Sandberg prepares to make a trip to capitol hill. Google, twitter set to testify next month roger, in this new oped youre asking them to go further. Mark zuckerberg, if he wants to earn our trust an forgiveness must personally earn it what do you mean by that i think the big issue were dealing with, carl, is that the people who are on facebook are on facebook because they love to have their views reinforced. Its for the just about family photographs, its not just about vacation photographs a lot is about being around the same people who believe the things we do. One of the challenges for facebook in the aftermath of the u. S. Election is that the people believe that everyone else was misled by the russians and others. They dont believe they wer
Carl quintanilla with jim cramer a solid open as we watch more good Bank Earnings and consumer inflation that is a touch cool 10year core cpi runs 1. 7 year on year. Wells fargo with earnings, does it point to a strong season of corporate results . Tech policy head winds, the fang stocks are set to open higher. Amazon and alphabet above the 1,000 mark and 21st century fox down in the premarket following the drag from comcast and direct v owner at t bank of america better than expected as improved lending activity and higher rates offset weaker trading revenue and wells beats on the bottom line but revenues miss and that stock is lower as we watch efficiency ratios. Wfc, wells does a pretty good job of not talking about the issues that beset wells fargo. I will say in their defense, there was not a decline in average deposits, up 4 . People are not fleeing wells fargo. Bank of america has become the bank that i always thought it would be, the consistent bank where you can put a price to
We are going to talk to Kevin Hassett in just a few moments. Top story today, political pressure mounting on big tech yet again. Two Democratic Senators expected to unveil a bill this week which would require companies to disclose more information about political ads they run online. Ad says company reps prepare to testify before congress in a couple of weeks. Joining us this morning, Aneesh Chopra, who served as the chief Technology Officer during the Obama Administration hes in washington, d. C. , today. Good to have you back, good morning. Thanks for having me. You have these companies under pressure in the press, these meetings on capitol hill everybody except shareholders, it seems what do you think the repercussions are going to be . Well, we have two trends that are going to be difficult for the tech sector to manage. One is the issue of parody we have regulations that occur in the offline world, like political ad regulations on broadcast that have not yet been applied in the on