Along with other white house staffers so this is a relatively large group for this meeting you remember, last week they tried to have this meeting and the democrats didnt slow up we saw that visual of the president with the empty chairs on either side of him waiting for chuck and nancy, Chuck Schumer and nancy pelosi, to attend the meeting they never came. Today theyll be here. We should see all these chairs filled today what theyre going to discuss, though, is a mystery weve seen a dampening of the tone going into this meeting both sides know theres a lot at stake here in terms of a potential Government Shutdown as early as tomorrow if they dont get a continuing resolution to kick the can down the road another two weeks in terms of government spending. So Sarah Huckabee sanders just briefed the press within the past hour or so, and laid out sort of her expectations from the white house perspective of what well see in the meeting. Heres what she said in terms of the Government Shutdown
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 out there, i dont see it as we get closer to closer to christmas, this thing will continue to grind higher a couple of
Evacuate power lunch starts right now for everybody in Southern California, its been a tough couple of days thinking of you guys the jobs data getting a bump to the bottom line. The nasdaq the bigger winner crude oil had been up 2 before it pulled back the rig counts, by the way, are out any minute now health care related. Alexon and celgene and mylan up as well. Another hot stock today, Sage Therapeutics this is on top of yesterdays 70 gain and the ceo will join us in just a couple of moments and steve, no shortage of stuff to talk about today. No. Very excited, brian. Especially with the jobs report. Lets get to it. Its getting to be routine economists say it should slow because of the population growth, theyre right about that part but the job market keeps surprising to the upside nonfarm payrolls up against an estimate of 195,000. October, september revisions not up much. Hourly average wages up just 0. 2 . And the Participation Rate also at 62. 7 Goldman Sachs saying despite the s
Wallet hacks all of that isle coming up and more. See how we have to quote two different bitcoins because they trade in multiple places. Next, critics said truckers would not want an electric semi. Weve seen a number of new corporat corporate orders for teslas semitrucks a deeper dive on whats behind those buys. Thats a coo l story. Major biotech conference kicking off this weekend which companies could be big movers come monday after their data released. First to our top story, the november jobs report come inninn better than expected Steve Liesman joins us to break down the numbers. Michelle, this is a good number but o bit of a mystery when it comes to the jobs market the job market never gets tight. Take a look at the numbers, up 228,000. Overall impression from economists we should be slowing down job growth to better equal average hourly wages did not tick up, the Unemployment Rate did not change, neither did the Labor Force Participation right. Heres what ubs said, showed above
Indexes the dow, the s p 500, and the nasdaq closed at records. Financials rose. And there was optimism about tax reform. And that enthusiasm put investors in a buying mood. So here are the closing numbers for you. The Dow Jones Industrial average gained 61 points to 22,118. Its gains were capped however by a decline in the shares of mcdonalds following a downbeat research note. The nasdaq was up 22. The s p 500 added eight. Ask anyone who invests in this market and they may have a different take on stocks and where they may be headed. The same is true of wellknown investors like omega advisers leon cooperman and tiger managements julian robertson, who says stocks are in a bubble. The market as a whole is at a historic basis, i think thats due to the fact that Interest Rates are so low that theres no real competition for the money, other than art and real estate. And so i think thats why the valuations are so high. The stock market has full valuation. That doesnt mean its overvalued, b