Strong Jobs Report Fuels Market Optimism

0:00 Speaker 1 Sunday morning, Mother’s Day. What did the market do last week? What did it going to do this week? Well, we’d had with us, John Trett, did you give us a the pulse of the situation.

0:12 Speaker 2 The pulse in the Good Morning John, and good morning to mums listening everywhere. Remarkable scenario going on. Last week? Of course we had the war and the peace talks and that one page proposal. The market’s reacting to every single twist and turn every day seemed to be different.

0:27 Record and then red ink all over these screens the very next do you know that eighty four percent of the S and P five hundred have beat expectations in first quarter earning so far, which is a number I don’t ever remember seeing quite that high before. And then, of course on Friday, we have the April non Farms

0:45 Jobs report, and they were searching one hundred and fifteen thousand new jobs created in the month of April, not the sixty five thousand forecast by economists. You know, opening the jobs report is turning into a bit of a mystery box every time it’s something different. Of course, it is the number one piece of data that is produced

1:04 anywhere in the world, and on Friday. It showed that job creation is still strong despite the war in Iran. Last week corporate earnings Disney up seven percent. Ans came out showing they’re firing on all cyninatas so only the Tokyo based music company these days is buying recognition from Blackstone.

1:22 It’s one of the world’s biggest music catalogs. They have something like forty five thousand songs and one hundred and forty five categories, names like Neil Young and Justin Bieber and Fleetwood Mac. I was looking for some singers from the fifties for you, and I couldn’t find any job.

1:37 But I’m sure, but I though they are there. Also, GameStop surprises all the way last Sunday when they said they were coming out to buy eBay, the Chatskis company, you know, the sort of knickknacks company, the website game stop paying fifty six billion dollars. Now they don’t have the money, so where it’s coming from, no one knows,

1:54 but it was a big shop for Wall Street on Monday. GameStop has about nine billion dollars in cash available a parent and this week coming is going to be a very big week for crypto for one reason or another.

2:05 But last week Coinbase, one of the major cryptocurrency companies, cut fourteen percent of its workforce after turning in some relatively bad earnings numbers down lawsdagn S and b well up one day, down the next. But Friday was a very strong day, as you know, for most of it anyway.

2:23 And as for the week ahead, well, JD dot Com, which is the Chinese e commerce platform, the website is coming out with its earnings. I mentioned that because on Thursday, Friday, President Trump is going to be in Beijing with President Schi of China. He’s taking with him Kelly Ortberg, the CEO of Boeing. According to CNBC, he is anyway, and

2:42 that usually means there’s a big deal coming in the offering. He’ll be there for those two days. It’s going to be a very big deal when these two world leaders meet face to face, the two biggest economies in the world.

2:53 And also next week we get earnings from Cisco Systems, the company that makes the bits that drive the Internet, and also Advanced micro device is as well, another high tech company. And once again, Happy Mom’s Day to everybody listening who has a mum.

3:07 Speaker 1 John well, thank you so much for giving us an update. And the s and P is almost seventy four hundred. I mean the Sunday is the challenge will shine for the rest of the year.

3:20 Speaker 2 Well I should I didn’t say this, but I should have done that. At the close on Friday it was in record territory for the sixth week in a row. So yeah, I think the sun’s going to shine.

3:33 Speaker 1 Thank you so much, and we’ll catch up again.

3:34 Speaker 2 Real sir, Thank you John. I see you next Sunday. Thank you God,