3 Burst results for "Dave Macintoshes"

"dave macintoshes" Discussed on Squawk Pod

Squawk Pod

08:02 min | 1 year ago

"dave macintoshes" Discussed on Squawk Pod

"Get the best stories debate and analysis from the biggest names in business and politics are commodores correct today. It's jobs Friday unemployment at a fifty year low but is it all good news Amelie Peach of a report our panel on whether the economy is ripe for recession plus tech billionaires turn on capitalism people who want to succeed succeed and I know it's politically correct to say that to be honest with you. I think mathematically that's incorrect and Steve Schwartzman recalls his worst trait a realized I was about to cry. I'm just not allowed to cry. The Private Equity Legend tells becky quick about his early struggles and Becky's thoughts on that conversation which you'll hear only on the podcast to hear. This guy who you think is making other people cry. I'm CNBC producer Katie Eddie Kramer. It's Friday October Fourth Twenty nineteen spoke pod begins right now star trek you buy in three one good morning welcome back to squawk box here on CNBC. We are live from the Nasdaq market site in Times Square. I'm becky quick along with Andrew Ross Sorkin Joe's out today. Our guest host is Steve Grasso. He is the director of institutional traditional sales at Stuart Frankel. He's NBC fast money trader. He's a frequent guest here on squawk box wonderful. It's the first Friday the of the month jobs Friday. When the Labor Department releases the number of American jobs lost or created the month before as well as the latest unemployment number jobs. Friday is always weighs on Friday and it's always at eight thirty. AM So on Squawk box. It's pretty much always free. There are a lot of voices in this conversation including our economics reporter. Steve Liebmann plus all of noisy traders behind our reporter. Rick Santelli who joins the team from the Chicago Mercantile Exchange Andrew will walk you through the rest of our panel joining us now Halston Goolsbee in the Windy City University of Chicago Booth School of business professor and former council of Economic Advisers who's chairman. It's great to see you my friend. Kate Moore's here strategist at blackrock. Dave macintoshes joining US President of the club for Growth and a former US congressman. It's great to have everybody here. Let's get to Diana like she has. The numbers one hundred thirty six thousand nonfarm payrolls increased by one hundred thirty six thousand in September. The unemployment rate fell to three point five percent down from three point seven percent. That is the lowest level since nineteen sixty nine Diana thank you we're going to talk about all of this with some reaction from our jobs panel right now kate. Let's start with you. We never put anybody on the spot with saying exactly what that number was going to be but you were looking for a strong number and this is this really solid number the number. I was going to give one fifty nine with some downside. I feel like one thirty. Six is a healthy number especially because you saw the good healthcare number we expect expected little weakness in manufacturing retail. I think that's kind of par for the course of where we are in the cycle so I feel really good about this especially in light of what we had earlier this week in terms of 'em so so I think equities will do well to balance of the day. Hey Steve. You've had a minute to dig through some of that. What jumps out to you is the most important parts in this report are just trying to see the last night we had to be and a half percent unemployment rate and it looks like you gotta go back to nineteen sixty nine for one look. Here's the problem and we sorta flagged this problem back. in August as at August is very typically typically revised higher so the slowdown we thought we had in August at one hundred and thirty which we thought was hey. We're coming down to the place where we think we ought to be. That was your vice one sixty eight yeah and I think those are good. I think that tells us that. We're doing a little bit better than we thought we were doing. Retail has lots of problems down eleven thousand and then down on six thousand. We have to watch that sector. There's a huge transformation as you know happening over there. Look there's two scenarios that we're watching for here. Scenario number one is is a sort of expected slowdown as the crazy two hundred plus job gains of last year. Come back down to normal if we can settle in call it a one on twenty five to one fifty range that would be good and we're worried about the weakness going down below one hundred thousand. I think the idea that that we're now in zone own where it looks okay. It's pretty comfortable. It's not great but it's not terribly week. I called a win. Hey Rick Walk us through the market reaction to me. The biggest news without a doubt is that the markets looked at it as good news stocks and treasury yields but it's really a bad report in not for the jobsite wages this this is terrible unchanged month over month under three percent two point nine on a year over. Excuse me month over month year over year basis this these are good numbers. It's all about the money I stand. What do you think of this report. You know this kind of a mealy peach of a report. We're we're a little under what what what the forecast was okay like. Steve said it's it's okay but it's not it's definitely not Great Austin though you're looking at the wage issue decelerating eating not accelerating. How important is that to you. I think it's pretty important now that wages are steady after we've had several months where where they were growing. Hopefully this is a blip but I mean I'm telling you the thing driving this whole thing is that the GDP growth rate is slowing down and and a lot of the forecasters are now saying that they expect a one handle for the rest of the year if we get GDP growth falling down into the ones. I think the jobs odds numbers are GonNa fall apart and the ways numbers are going to fall apart dave when he think growth expectations for the rest of the year what are yours continued to be strong in the two to two and a half percent a from a political standpoint. This is very good news. The fact that the unemployment rate is an historic low. That's what most people around the country look at and the job. The creation rate is averaging now at one sixty three hundred sixty thousand a month when you compare that to pre trump the the Obama era at one oh nine that's very good news that he can take to the public and say we're. GonNa continue to grow the economy create jobs and the wage. It's a slight downward trend trend in the direction but it's still a positive increase rather than decrease in average wages sounds like a goldilocks number two so it say yet. Everyone picked US apart. You had some some weakness. You had some strengths in it. It still gives the Fed some room for cover to cut rates so I I think this is as close to a not too ought not to cold grieving for the market and we saw the market react to it almost immediately yeah. I totally agree on the Fed bit here. I think if we had a number that was very very strong and then everyone had to reduce their probabilities of further fed accommodation or mid cycle adjustments. I think that would cause risk asset assets to sort of chic but this is is right in that sweet spot where it's we're still growing or not growing so fast and that can continue on that path recession. They said before with a three point five percent unemployment blended economists can pick through this. This is probably a tailwind for trump. Wink wink had not but still you know at this point. It's about the economy me and for it to go. This long extended the cycle really's attest. Dow Strong. This overall economy probably is often have quickly. Can these numbers change. How quickly would they change. If we were actually seeing a turn and things I mean if you go back and look at previous recessions they could turn pretty quickly and if a recession begins and the strongest part of the economy now is that consumer confidence in consumer spending remained strong that can turn around very rapidly in a space of just a couple la months you can see big drops in consumer confidence down. It doesn't mean that that it will happen now. That's the that's the reason not to just say hey well L. A. One hundred thirty five thousand a month is okay and so it's probably going to be fine. I mean if we got an escalating trade war manufacturing's already in a recession. Shen and retail is already in a recession and those are two pretty decent sized chunks of the economy so we gotta count on.

Becky CNBC Kate Moore Steve Diana Dave macintoshes Fed US Steve Schwartzman reporter Steve Liebmann Amelie Peach Katie Eddie Kramer Steve Grasso NBC Rick Santelli Times Square
September Jobs Report

Squawk Pod

04:56 min | 1 year ago

September Jobs Report

"It's the first Friday the of the month jobs Friday. When the Labor Department releases the number of American jobs lost or created the month before as well as the latest unemployment number jobs. Friday is always weighs on Friday and it's always at eight thirty. AM So on Squawk box. It's pretty much always free. There are a lot of voices in this conversation including our economics reporter. Steve Liebmann plus all of noisy traders behind our reporter. Rick Santelli who joins the team from the Chicago Mercantile Exchange Andrew will walk you through the rest of our panel joining us now Halston Goolsbee in the Windy City University of Chicago Booth School of business professor and former council of Economic Advisers who's chairman. It's great to see you my friend. Kate Moore's here strategist at blackrock. Dave macintoshes joining US President of the club for Growth and a former US congressman. It's great to have everybody here. Let's get to Diana like she has. The numbers one hundred thirty six thousand nonfarm payrolls increased by one hundred thirty six thousand in September. The unemployment rate fell to three point five percent down from three point seven percent. That is the lowest level since nineteen sixty nine Diana thank you we're going to talk about all of this with some reaction from our jobs panel right now kate. Let's start with you. We never put anybody on the spot with saying exactly what that number was going to be but you were looking for a strong number and this is this really solid number the number. I was going to give one fifty nine with some downside. I feel like one thirty. Six is a healthy number especially because you saw the good healthcare number we expect expected little weakness in manufacturing retail. I think that's kind of par for the course of where we are in the cycle so I feel really good about this especially in light of what we had earlier this week in terms of 'em so so I think equities will do well to balance of the day. Hey Steve. You've had a minute to dig through some of that. What jumps out to you is the most important parts in this report are just trying to see the last night we had to be and a half percent unemployment rate and it looks like you gotta go back to nineteen sixty nine for one look. Here's the problem and we sorta flagged this problem back. in August as at August is very typically typically revised higher so the slowdown we thought we had in August at one hundred and thirty which we thought was hey. We're coming down to the place where we think we ought to be. That was your vice one sixty eight yeah and I think those are good. I think that tells us that. We're doing a little bit better than we thought we were doing. Retail has lots of problems down eleven thousand and then down on six thousand. We have to watch that sector. There's a huge transformation as you know happening over there. Look there's two scenarios that we're watching for here. Scenario number one is is a sort of expected slowdown as the crazy two hundred plus job gains of last year. Come back down to normal if we can settle in call it a one on twenty five to one fifty range that would be good and we're worried about the weakness going down below one hundred thousand. I think the idea that that we're now in zone own where it looks okay. It's pretty comfortable. It's not great but it's not terribly week. I called a win. Hey Rick Walk us through the market reaction to me. The biggest news without a doubt is that the markets looked at it as good news stocks and treasury yields but it's really a bad report in not for the jobsite wages this this is terrible unchanged month over month under three percent two point nine on a year over. Excuse me month over month year over year basis this these are good numbers. It's all about the money I stand. What do you think of this report. You know this kind of a mealy peach of a report. We're we're a little under what what what the forecast was okay like. Steve said it's it's okay but it's not it's definitely not Great Austin though you're looking at the wage issue decelerating eating not accelerating. How important is that to you. I think it's pretty important now that wages are steady after we've had several months where where they were growing. Hopefully this is a blip but I mean I'm telling you the thing driving this whole thing is that the GDP growth rate is slowing down and and a lot of the forecasters are now saying that they expect a one handle for the rest of the year if we get GDP growth falling down into the ones. I think the jobs odds numbers are GonNa fall apart and the ways numbers are going to fall apart dave when he think growth expectations for the rest of the year what are yours continued to be strong in the two to two and a half percent a from a political standpoint. This is very good news. The fact that the unemployment rate is an historic low. That's what most people around the country look at and the job. The creation rate is averaging now at one sixty three hundred sixty thousand a month when you compare that to pre trump the the Obama era at one oh nine that's very good news that he can take to the public and say we're. GonNa continue to grow the economy create jobs and the wage. It's a slight downward trend trend in the direction but it's still a positive increase rather than decrease in average wages

Steve Liebmann Kate Moore Dave Macintoshes Diana Reporter United States Rick Santelli Labor Department Blackrock Club For Growth Barack Obama Council Of Economic Advisers Rick Walk Windy City University Of Chica Halston Goolsbee Chicago Mercantile Congressman Chairman
"dave macintoshes" Discussed on KDWN 720AM

KDWN 720AM

01:59 min | 4 years ago

"dave macintoshes" Discussed on KDWN 720AM

"What he said about the investigation and about call me that this is within his purview to do under article two of the constitution he is the chief executive officer of the government and the first if no one seriously thinks it was trying to impede investigation that you're just being dishonest if you think someone saying i hope this wraps up is a impeding investigation because the fbi has told us that didn't impede the investigation so we know that that we know that that wasn't that was an obstruction so was it inappropriate for him to say that and the answer is no according to dave macintosh for some reason i can't find the paragraph true that he uh they just sent it to me and i can't find but i'll i'll read it to you and i can find a during the break so he said it's article to the constitution says the president's authority to meet with various members of his administration and give them him as his opinion you don't want to impede investigation he did not do that so the press gets away from the story cnn has a cairo a crawl at the bottom of the screen trump told call me to end investigation into flint that is under the terms of the memo that the new york times never saw that's not true trump said i hope you can bring this to a close i hope dot dot dot so now hoping is impeding and obstructing no it's not it's hoping which he has said essentially before that he hopes this thing can move forward to get this off their backs because there's nothing there and he's not personally being investigated trump so he just wants us to wrap this up so we can get on with his agenda big deal that's basically what they macintosh said and we have more on this ongoing controversy about school uniforms in the in the difficulty parents are finding because we're going to do culture to on the show difficulty parents have in finding.

chief executive officer fbi president cnn cairo flint new york times trump dave macintosh