It shows, by the by, that the labor market is still strong the, consumers and wage earners are still strong. As i said, america is working. I think people are underestimating the underlying strength of this economy, and i want to also add this it is a middle class boom. This is a middle class boom. This is a blow outnumber, you know . Well see if the next one and the one after that are great, but theres no question this is an outstanding report well above expectations. Maria meanwhile, as expected the Federal Reserve cut Interest Rates for a third time this year by another 25 basis points. The First Reading of the u. S. Gdp grew at better than expected rate of 1. 9 . Joining me right now is jason brady, president and ceo of Thornburg Investment management. Its great to have you, thanks so much for being here. Sure. Maria you are managing, what, your 14 billion fund is the income builder fund. This is, what, global dividend payers . A supportive element of fixed income, exactly. Maria h
Great to be here. Maria big show today, fox news senior strategic analyst jack keane is here on saudi arabia and iran. Former secretary of state bob to talk china along with teddies cussing next move for movie pass, House Financial Services andy barr joining us this morning, this morning talking iran as well as former Shell Oil President talking all things oil, dont miss a moment of it, big show, this hour, top story, President Trump rallying into mexico last night, the president talking u. S. China trade, Brett Kavanaugh and American Energy production, watch. The United States is now the number one producer of oil and natural gas anywhere in the world. [cheers and applause] this means more jobs, higher wages and american independence is what we have, look at what they are doing today to Justice Kavanaugh, look at what they are doing, did you see the New York Times, do you see what democrats, they are calling for his resignation, they are calling for his impeachment and the women invol
Some gains at the open expectations are high for the chip makers results after the bell watch apple. The midst of a sevenday win streak with a gain of nearly 13 so far this month. Lets begin, though, with target down sharply on this Quarterly Earnings miss and a sales decline. The retailer did say customers cut their spending on discretionary and grocery. Company did reaffirm fullyear guidance, jim. They guided comps down and came in 3. 7 when you talk to brian, hell be insistent that this wasnt anything that you should find unexpected the thing that im struggling with is he talks about the consumer, in tepid terms walmart didnt walmart told about a consumer thats in good shape and price rollbacks. We didnt get price rollbacks from target until this week. So, im beginning to wonder whether target is out of position versus walmart. Where walmart is really starting to walmart plus represent a bargain. Walmart can also subsidize sales because they have this terrific advertising business t
Earnings. I and Katie Greifeld in new york. Welcome to bloomberg markets. There is red on the screen behind me. The s p down by about. 2 . Same move when you take a look at the nasdaq 100. Your chips are the relative outperformer today but by a very small margin. I will call that unchanged on the stocks index but lets get specific. Two stocks we are watching our uber and lyft. Uber missed expectations. We have mandeep here. Tell us what uber tell us what lyft did do and what uber did not. Mandeep both of them had an inline quarter. Expectations were way too low. The fact that they grew over 20 was a positive. There is no doubt that you are seeing this saturation in new rider additions. It is a key topline driver. In the case of uber, it is trying to offset through its partnership with instacart. The delivery segment clearly does not have a lot of levers, but in the case of lyft, we do not know who they will partner with, whether that will be doordash or somebody else. Katie lyft shares
Reddit, for example, recent ipo, surging. Shopify, really down sharply the president will join us this hour and on the a. I. Front, President Biden is going to announce the plans by microsoft. This is microsoft money, not federal money. Theyre going to build a 3. 3 billion datacenter in wisconsin. Lets start with tesla, though sources telling reuters the Justice Department is investigating whether the ev maker committed securities or wire fraud by misleading investors and consumers over its vehicles selfdriving capabilities teslas autopilot and selfdriving systems assist with things like steering and lane changes but are not fully autonomous the report also says the s. E. C. Is investigating teslas representation about Driver Assistance Systems to investors. So, jim, i think theyre quoting three sources over at reuters. Right and i know, david, we can go into this. I dont want to well, this is obviously serious news the problem is that ive always found that when youre talking about wha