Lets get back to our roadmap back here in the states. It starts with jobs. Employers adding 209,000 jobs in july, below forecast but showing strength in the labor market and the economy. The white houses reaction to that when were joined by the chairman of the council of economic advisers. And big earnings this morning. Tesla, gopro, Procter Gamble, chevron. And breaking news, auto sales trickling out all day long. Phil lebeau has the details. Ford up slightly. 9. 6 . Were going to get a lot of numbers here in the next hour. What we want to see at the end of the day is the ultimate sales pace for the month of july. Most estimate it will come in about 16. 7 million or 16. 8 million. Ford up 9. 6 in the month of july. Back to you. Thank you very much, phil lebeau. Back to that jobs number, the economy adding 209,000 jobs in july, the employment rate tibckd up to 6. 2 . We are also coming off of a bad day on the broader equity markets, also some concern about flows out of highyield funds
Its a solid report, given the context. The context is something we have been talking about for weeks the weakening global economy. Its impressive we have been able to create this drop, plus, lets not forget 31,000 in public. The be employment hourly wage rose just 1 10 of a percent. Coming for j. P. Morgan chase. The Company Expects another 3000 jobs in its mortgage and credit edition to be cut. Wells fargo and bank of america have also been cutting jobs as the refinancing business is declining. Alibaba group is moving full steam ahead to invest in hollywood. The chinese ecommerce giant prefers to invest in specific films, rather than movie studios. Alibabal Bloomberg News wants to become a bigger player in content distributional by using customer shopping and viewing data to predict which films will become hits. Incarnation of the silk road, the black market internet site known for drug trafficking, has just been shut down by the fbi. The alleged mastermind is a 26yearold San Francisc
That sent stocks and Oil Prices Higher around the world. Meanwhile in europe, ecb president mario draghi says they may broaden their asset Purchase Plan as the inflation outlook slows. We need to create a Business Environment where new investment is attractive. This, in turn, would help Monetary Policy to reap its full effects. Those comments calling for the euro to weaken. It slid the most in a year against the japanese yen. The u. S. Says the number of new ebola infections in liberia is declining thanks to the effort of u. S. Troops and medical teams. The director of the cdc says he opening up of new units and better training has been very effective. The cdc is also working on lowering its estimates for new ebola infections. A controversial uber executive is said to retain the support of their top executives after remarks made about targeting journalists critical of the company. At least two major investors and Senior Management are firmly behind michael. He has been central to their
Tech companies. A federal judge says she will give final approval to apples settlement in the ebook pricefixing case. They will have to pay 450 million to as many as 23 million consumers. About 50 million of that is for lawyers fees. If its appeal is successful, it could be reduced to nothing. Fcc chairman tom wheeler dropped some hints on net neutrality. He says he wants to make sure that the new open internet rules are legally sound and will withstand challenges. He says he wants to write the rules quickly although the fcc has previously said the process will drag into next year. Turner broadcasting channels like cnn and Cartoon Network are back on the dish network, at least for the next few months. This comes after the Companies Reached an interim deal in their heated dispute. The shortterm agreement will keep the channels on dish while companies try to reach a longterm solution. Cory johnson has the lead story. Now to the lead president obamas plan for Immigration Reform was not th
People over 50, the vaccine was 14 effective. The flu has mutated since the vaccine was created and manufactured. Radioshack preparing to file for bankruptcy. It could come as early as next month. Radioshack is also talking about sprint, the wireless carrier leasing some of radioshacks stores. Chinese uber competitor raised 600 million in funding, with existing shareholders ali baba and Tiger Global Management taking part. It is now valued at 2 billion. In china, upstart phone maker xiaomi is known for one thing, cheap phones. Now the upstart is jumping into the higher end market, taking direct aim at samsung and apple. Xiaomi Just Announced their biggest and most expensive smartphones for 371. That makes it a tad bigger, a little thinner, and a lot less expensive than the iphone 6 . Here is xiaomis ceo in beijing. We are lighter, thinner narrower, and shorter than the iphone 6 , but we have a bigger screen, all without impacting function, performance, or design. But is this a risky mo