Jim Lowell also talks about a private jobs report and more
Machine Generated Transcript
The government -- on the fourth -- see saw at times on Wall Street. At a less than impressive private jobs are important too much to help investor confidence either hear your numbers. The Dow Jones Industrial Average fell 58 points to close that 151000. What 33 but NASDAQ Composite lost about stories finishing at 3815. Yes that is 500 dropped one point two and get 1693. Regionally Bloomberg new England and that is basically flat. And Bloomberg's New England tech stock index dropped a fraction. A closer look at the numbers. Anything in market analyst at Lowell he's not used to this evening so jammed my goodness yesterday investors did not react wildly to the government shut -- today it was a much different story alive and. I -- -- there's some optimism that media pats can be put in place today that optimism faded faded pretty quickly. At the open new markets get down about a percent but very important to note. But they've basically recovered much of that loss SP 500 almost opening flat or I -- had been. Quietly getting more and more nervous and then I think as we look toward to tomorrow and really the next several days. We don't see some sort of concession in the works with a more limited him to be. More rather less nervous but global markets get response -- -- government shut -- exactly like our markets responded yesterday. Global markets were up today -- also swirled within their ranks and most were down. Not dramatically but down enough on the concern that if the US shut down impacts. Our global RRI economic rate of growth enough the global economy and its tentative recovery. Could also be negatively -- the European Central Bank today make some changes that reaction to shut down to us they didn't let they had a meeting today where they held rates pat and they also didn't say anything about him further stimulus measures we also had been Bernanke speaking today. He too did not say anything about further stimulus measures the economy or was shut down so. In terms of our for our fed and also the PCBs that the markets to really have much to go -- in terms of how they might steer the ship. AP private jobs report came out today and it didn't help through the basket at all. Didn't it didn't worsen their fears the reality is under 60000 plus private sector jobs being created is okay. Against the backdrop of the recent history but in terms of prior recoveries that number is significantly off where we need to be not just month over month but really for. A few years in a -- to be able to get back in calling the jobs market recovered rather than being in tentative recovery. Accurate at predicting spoke today he left a lot of content that it. People were expecting to hear that but it's not down yet he really left all of that to the sideline I think what he understands is that. But the government is so dysfunctional the moment that. It does him no good to timely way in he's already caution and provided many the it's just just a week and a half ago. That is press conference and he also knows that's the thing governors now. That it's the debt ceiling debate that really poses the greatest market and economic threat. Our single stock story of the day involved -- and some video damaging video company tough with a couple that prides itself on safety but. Video with -- of vehicles on fire became viral strains. Some perceptions. Tackle stock split in the -- Leadership handled it. -- very interesting to note that -- stocks are still being moved by his what they think is it is and the image on the video test -- car fully engulfed in Flames. Basically -- that -- down 10%. As the market began to think maybe that this position of evil like battery fire problem. At the end of the day it was talking to -- about 6% to company came out to basically said to flyer was a direct result of of the significant. Engagement with some sort of object in the road and into the batter's. What should we be watching for tomorrow again. Well I'd love to see factory orders but with the government shut -- are likely to get that report we will get weekly jobless claims. That need be enough to. Help this market at least not lose too much ground but the reality is. Here is beginning to build as the government's dysfunction continues. Jim order but investments that fidelity and that's dot com thank you so much for joining us thanks to right.