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Following yesterdays rout john ferroli and dan sculley join us. Happy friday to you both a lot of debate this morning about the jobs number, and the degree to which it tilts the macro debate whats your take its more of the same, which is strong job growth, low unemployment, but disappointing wage numbers which is the story weve seen a bunch of times over the last year or two i dont think this does much to resolve the debate growth looks good. The question is where inflation is going the wage numbers dont scream out that theres a whole lot of inflation worries for the nrt nearterm. Dan, do you agree how long can that dynamic last i would say we had solid news in particular in the manufacturing jobs sector this morning. We may continue to see that as we get infrastructure announcements into january potentially some changes in capex trends as we have fiscal tax reform and tax changes the broader takeaway for our team is that were seeing a rate of change inflection in job growth going back ....
We will explain. First we start off with a record day for the markets the dow soaring triple digits closing at a record high the s p 500 joining in on the party as well. Nasdaq a bit behind, making a comeback today after a tough month for the composite. It looks like the perfect recipe for a rally. Big jobs number this morning, President Trump signed the bill to avert a Government Shutdown and its full speed ahead on tax cuts do you just keep buying til the end of the year and maybe even beyond, guy . Weve been saying that all along. One of the things weve said earlier this week, despite the fact that the market seemed volatile, the volatility index continued to go lower, down 5 one day, 5 the next day today it closed at 9. 5 , the lowest level weve seen in quite some time. Despite the warning signs, the vix doesnt care to answer your question, some exogenous event is o ....
Negotiations and what they turn to next. We heard earlier this morning from mr. Jeanclaude juncker that they reached an agreement with the u. K. They will be able to talk trade in the next couple of weeks. We still have the pound fluctuating. Maybe investors were expecting more of an impact. Are at their week where it they had quite a bounce where they had quite a bounce. I am looking at the ftse on the back of that brexit, not much of an impact. That could change. Today we talk markets and Bank Regulations with andrea ocho andrea orcel. Mcewan and with ross we also speak to roland rudd. It is quite fitting that we havent brexit show this friday. Lets get to Bloomberg Business flash. Nejra the u. S. Congress has passed a twoweek the first toisions on decisions on settle some larger issues on spending and legislation. At the same time they will be rushing to finish work ....
Mixed, kind of nothing actually. Isnt that funny. All minimal moves. Lets call it a complex more or less in europe flat at this point. 10year note yield, we had the big employment number on friday. Didnt really see that Much Movement though, did we . Its funny, i spent a lot of time talking about the bonds on friday on mad money, the old days what it would have been been like and it would have been selffulfilling and were we have a great economy so you know rates have to go up immediately. It did not occur and its a different pattern but weve seen for the past 30 years. Lets get to our road map this morning, well get back to the bond market in a bit breaking news in new york city, an explosion near the Port Authority bus terminal during the morning rush hour. There is one suspect now in custody. Plus, the bitcoin boom, the futures on their first day of trading, they are surgin ....
Sara eisen. Good morning. Happy holidays. Happy holidays indeed getting closer to christmas morning. Thats trading on the markets. Well come in in a moment. Travel alert things slowly starting to come back online at atlantas heartsville jackson. More than 1,000 flights were delayed or canceled. The timing couldnt be worse well have more on that in just a moment first, lets get a check on the Global Markets this morning. Weve got green arrows really across the board as u. S. Equity futures point to a higher open dow futures are up by triple digits right now indicating an open at 138 points higher. S p 500 futures poised to open 14 points higher the nasdaq poised to open 51 points higher. This, of course, after record closes for all three of those indexes on friday as everybody is sort of focusing on tax reform and whether lawmakers will pass that through before christmas this week. Absolutely right. Fridays section slightly flat on ....