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Investors will usher in the Fed s monetary policy decision this week, which is the top priority of the market this week. MarketWatch, a well-known financial website, wrote on Saturday that the Fed is expected to have a long discussion this week about slowing its monthly bond purchases. Scaling back bond purchases is crucial to financial markets. Economists say investors want clear answers to key questions such as when to start scaling back their bond purchases and the pace, but they are likely to be disappointed.
Economists say new concerns about global economic growth and the spread of novel coronavirus s Delta variant have partly eased inflation concerns and reduced pressure on the Fed to talk more frankly about its retrenchment plan.
mark zandi diane swonk and austan goolsbee. let s get you up to speed on today s market agenda and we turn over to andrew. a dow jones news wire survey says the economy will likely add 125,000 jobs last month. that is going to be the baseline, whether we go over or under. the employment rate is seen holding steady at 8.3%. average hourly earnings forecast to rise by 0.2%. meantime, job posting site monster reports monthly gauge of online labor demand rose from july to august, leading the way, agriculture, forestry, fishing, hunting. the jobs with fewer postings, public administration and educational services. so, that s where we ll be. what s your number? i m surprised you said that, andrew, 125,000 after yesterday s adp report. i thought it might actually rise. it should have. you would think some economists wouldn t bring that number up. i should say there are other studies out there showing now some people are talking about 140,000, 150,000. that s what i thi
new jersey. good morning to you. she has a lot more on the terms of the deal. good morning. of course all of this comes after a weekend of none stop negotiations, knight securing that funding that it needed though at a very steep cost to shareholders. as you mentioned earlier a formal deal has yet to be announced. according to reporting by david faber as well as kate kelly this is what we expect. the company will sell $400 million worth of convertible securities. a 2% coupon and a conversion price ever $1.50 a share which is below the closing price on friday. most investors are don t university these convertible shares into stock. who is buying in? jeffries taking a $100 million stake for a share of the convertible securities. blackstone and general atlantic taking 87 million each. td ameritrade and nicolaus will take the rest. they will own 70% of the firm. market cap dropped to $397 million from over a billion on wednesday. following a trading glitch that cause ad $440 mi
trader in the center of the jp morgan trading mess. he s known as the whale. all of that is straight ahead. we start with my co-anchor at the ncse, brian shactman. look at the dow. almost positive in the average now down five points. we were down as many as 75 when the announcement came out. s&p and nasdaq off of the lows. you have gold was down about 28 bucks a few moneys after did decision came out. crude bouncing a bit off of the lows and really the theme trying to dissect it all. let s bring in mr. pisani. to me it seems like we re where we were yesterday. we have qe3 on the table and twist is extended. that s good point. the markets first drop, put up the dow and s&p was we didn t see qe3 and the statement s sell. but then people took a few minutes to read the statement carefully and led the grownwork for qe3. employment growth and fighting inflation. what about employment growth? growth in employment slowed in recent months. what about inflation? declined. what do
replaced banks. that s where our working capital is. and the threat to the money market mutual funds of those freezing out could be quite severe. it would be as severe as a banking crisis. and some of the proposed changes involved gating or restrictions on redemptions, which the university and the foundation community saw that we did not experience that at penn, but many institutions that did experience that, because some of the money market vehicles that foundations and endowments use were not protected during the financial crisis, and they faced an inability to access their cash. and that scramble to make payroll. and i think the needs of retail investors and the needs of institutional investors are very different and i would like to see policymakers recognize that we need liquidity. for institutional investors we need liquidity a floating nav a far better than gate because we need access to our money when we need access to our money. richard, any candidates for the not t