THAT
SOFTNESS A COULD ACTUALLY
CHANGE EXPECTATIONS FOR FRIDAY,
A REPORT THAT WE ARE.
>> ALL RIGHT, LET'S BRING IN
JARED LEVY AND TALK HEAR MORE
ABOUT MARKETS AS AGAIN REPORTS
OF
TRADE PROGRESS HELPING
THESE MARKETS NOW MAYBE BUCKED
THE HERE SO AGAIN LET'S ALSO.
GREAT PROGRESS AT THIS POINT I
MEAN IT
SEEMS LIKE FOR THE AVERAGE
INVESTOR JARED RIGHT LIKE FOR
YOU YOU'RE NOT TRADING ON
INFORMATION AND THAT
IS SO INCREMENTAL RIGHT NOW TO
GET THE ALGORITHMS ARE STILL
MODELING
FOR THIS WHERE DO YOU THINK IF
THIS THING IS WITH THAT WITH
THOSE THAT ARE ACTUALLY
DESIGNING THESE ALGORITHMS TO
STILL UP. THESE INCREMENTAL
BITS OF NEWS.
>> FIRST OF ALL IT, BUT IT'S
GREAT TO BE WITH YOU GUYS IT'S
VERY DIFFICULT RIGHT TO SORT OF
QUANTIFY MATHEMATICALLY
ROBBER RHYTHMICALLY FLOW OF
INFORMATION AS YOU CAN DO IT
SORT OF ON A ON A LARGER BASES,
RIGHT YOU CAN YOU CAN LOOK AT
WORD SEARCHES AND TRADE OFF OF
THAT BUT YOU KNOW I I
THINK THAT FLOW THAT WE'RE
SEEING IN TERMS OF LIKE YOUR
TRADE DEAL INFORMATION. FIRST
OF ALL THERE'S BY SAYS THEIR
RIGHT TO GET TO THE COUNT FOR
THAT WHICH IS NEXT
TO IMPOSSIBLE. AND THE OTHER
THING IS YOU WHEN WE GET BACK
TO WHAT TRUMP SAID YESTERDAY.
I THINK THAT WAS MORE PR
CONTROL
AND IOWA, THOSE FEEL AS THOUGH
SOME OF THE ODDEST RATION MAYBE
TRUMP INCLUDED THE KEY THINGS
OUT THERE THIS SORT OF TESTS
HOW THE MARKETS ARE GOING TO
REACT BOTH THE
STOCK MARKET AND YOU KNOW IF
YOU IF YOU LOOK AT LIKE THE
SOUTH CHINA MORNING POST THEIR
REPORTER CAN WHEATLEY
POLAR OPPOSITE THE SORT OF WHAT
WE HEARD FROM TRUMP AND IN FACT
YOU KNOW THE DATA THAT
I'M GETTING IT LOOKS AS THOUGH
WE'RE MOVING CLOSER TOWARDS
THAT FIRST PHASE DEALS SO AGAIN
REALLY HARD TO QUANTIFY I THINK
RIGHT NOW FIRST YOU WON'T PLAY
NO TRADE DEAL IS BAKED IN I
THINK IT'S GOING TO HAPPEN UM
BUT I THINK ONE OF THE SEA, HOW
THE PUBLIC
WILL REACT. IF YOU KNOW THIS
TRADE DEAL TO DRAG
ON DEMAND AND YOUR HUSBAND'S
INFORMATION OUT THERE TO GET A
SENSE OF SORT OF REACTION AND
TO AND TO MATTER. AND A MEASURE
ONLY YET.
>> I LIKE ALIVE TESTING SORT OF
OF THE MARKETS HERE IF YOU
WILL, BUT WITH THOSE COMMENTS.
>> YEAH, IT'S IT'S WEIRD BUT
IT'S IT'S THUS IT WE LIVE IN AN
AGE WHERE WE'RE FIGURING IT ALL
OUT YOU AND A GREAT EXAMPLE IS
LIKE THAT KIND OF THE SORT OF
OFF TOPIC BUT THAT PALATINE AT
THIS IS GETTING BEAT UP, YOU
KNOW, I MEAN IT'S REALLY
DIFFICULT TO GAUGE HOW THE
PUBLIC WILL REACT
BECAUSE REMEMBER IT'S NOT JUST
ABOUT THE MESSAGE. IT'S ABOUT
HOW OTHERS, CHER AND INTERPRET
YOUR MESSAGE AND THEN INTO
THEIR
SOCIAL CIRCLES AND THEN YOU
KNOW THEY'RE WHAT I CALL THEIR
OWN FILTER. BUBBLES AND THEN
HOW THAT SPREADS OUT FROM THERE
IT'S KIND OF LIKE WHISPER DOWN
THE LANE TIMES A TRILLION.
THE FIGURE ALL THAT OUT I LIKE
THAT I LIKE I WANT TO GET YOUR
TAKE.
>> JARED ON THESE ARE JOBS
NUMBERS THAT WE GOT A LITTLE
EARLIER TO FROM ATP ANY BEFORE
WE GOT THOSE FIGURES FUTURES ON
THE SUMMIT OUR HIGHER ABOUT A
160 POINT SO LITTLE BIT OF A
MUTED OPEN BASED ON ON ON THOSE
FIGURES AH BUT MARK ZANDI CHIEF
ECONOMIST AT MOODY'S ANALYTICS
SAYING QUOTE THE JOB MARKET IS
LOSING ITS SHINE MANUFACTURERS
COMMODITY PRODUCERS AND
RETAILERS ARE SHEDDING JOBS JOB
OPENINGS ARE DECLINING OF JOB
GROWTH SLOWS AND FURTHER
UNEMPLOYMENT WILL INCREASE
THAT'S A PRETTY DISMAL
STATEMENT. FROM SANDY WHAT DO
YOU MAKE OF HOW THIS CHANGES
YOU'RE THINKING ABOUT FRIDAY'S
REPORT AND THE ECONOMY AT
LARGE.
>> OKAY, SO A COUPLE THINGS ON
THE EMPLOYER REPORTS BOTH FROM
ATP IN
FROM BLS LET'S KEEP IN MIND
THAT THESE REPORTS FOR A SMALL
SAMPLE SIZE WHAT THEY DO IS ON
A ON A GIVEN DAY.
>> THE.
>> YOU ONLY LOOK AT HOW MANY
YOU KNOW JOBS READ HOW MANY
PEOPLE TOOK
THE JOB AND THEN THEY IN
TRIPOLI THAT OVER A MONTH'S
TIME OKAY ATP IS ACT SEE A
LITTLE BIT MORE I TEND TO LIKE
A LITTLE MORE THAN THE BLS I'M
JUST BECAUSE I THINK THAT THEIR
INFORMATION IS SLIGHTLY MORE
ACCURATE. BUT LET'S NOT FORGET
THAT AS AS MUCH AS WE KNOW JOBS
ARE ARE CHANGING SHIFTING AND
SOME ARE
GOING AWAY ON CONDOM USE OF
COFFEE, YOU KNOW I MEAN I WAS
TALKING WITH A BUNCH OF YOUNGER
INVESTORS. THE OTHER DAY AND
YOU KNOW LITERALLY 80% OF THE
ROOMS ARE SOME 30 INVESTORS.
THEY DON'T HAVE
REGULAR JOBS. THEY'RE ALL DOING
GOOD STUFF THEY'VE GOT LITTLE
SIDE GIGS HERE THAT
AREN'T COUNTED. IN THOSE JOBS
REPORT SO WHAT I DO IS I LOOK
AT A RETAIL SPENDING A LOOK AT
THE NUMBERS WE'RE SEEING FROM
BLACK FRIDAY AND CYBER MONDAY
WHICH ART ONE PERCENT 22%
RESPECTIVELY BETTER THAN LAST
YEAR AND I SAY OK IF THINGS ARE
THAT BAD PEOPLE ARE YOU KNOW IF
JOB GROWTH IS REALLY SLOWING.
WHY ARE WE SPENDING THAT MUCH
WORK AND BY THE WAY THE OTHER
KICKER THERE WAS THE FACT THAT
WE'RE SPENDING AND HIGHER
DOLLAR ITEMS SO I'M NOT SO
WORRIED ABOUT LITTLE BLIPS FOR
MRS. IN THOSE REPORTS NOW IT
MRS. 3, 4, 5, MONTHS IN A ROW
AND IS GETTING WORSE
THEN YOU WANT TO LOOK AT IT,
BUT BUT ONE OF 2 LIVES HERE AND
THERE IS NOT SOMETHING THE
STREET GET
CONCERNED ABOUT.
>> RIGHT BECAUSE THE TREND LINE
IS STILL GOING IN THE RIGHT
DIRECTION, WHAT ABOUT WAGE
GROWTH A SPECIFIC WAY STILL NOT
AS HIGH AS YOU WOULD EXPECT IN
SUCH A TIGHTLY EVERY MARKET OR
ARE YOU CONCERNED ABOUT THAT
GIVEN THAT YOU KNOW ULTIMATELY
IMPACT OR PURCHASING POWER AS
CONSUMERS.
>> IT DOES YOU KNOW
AND THAT'S A GREAT POINT TO
BRING UP AND BELIEVE IT OR NOT
MY BIGGER CONCERN THERE WHEN IT
COMES TO WAGES IS ACTUALLY
FOCUSED MORE ON HOUSING MARKET
THAN ANYTHING. AGAIN THOSE
MEASUREMENTS OF OF BOTH WHAT
THINGS COST AND WHAT PEOPLE
ARE PAID. THERE ARE A LITTLE
BIT FLAWED RIGHT. BUT IF YOU
SORT OF LOOK ACROSS THE UNITED
STATES REALLY THESE INSANELY
EXPENSIVE THAN IN MOST MAJOR
MURDER, URBAN AREAS AND YOU
WRITE WAGE GROWTH HAS BEEN
PRETTY IN BUSINESS. BUT AGAIN I
GO BACK TO SORT OF THAT YOU
KNOW SIDE THE ECONOMY AND AND
PEOPLE ARE
MORE APT TO KNOW QUOTE UNQUOTE
HUSTLE TO MAKE THINGS WORK IS A
CONCERN, YES, IT BUT IT'S NOT
AS DIRE
WERE AS. YOU IMPACTFUL AS IT
WAS MAYBE 20 YEARS AGO, THERE
WAS THE STATE WE'RE SEEING
ON WAGES IS IT AS I TAKE IT A
LITTLE BIT LESS SERIOUSLY NOW
THAN I DID YOU KNOW 1520 YEARS
AGO AND I WAS TRADEMARK EXPECT
THEM
>> YOU DON'T YOU DON'T LOOK
LIKE YOU'VE BEEN IN THE MARKET
THAT LAW.