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FBN’s Diane Macedo on the Labor Department’s investigation into the pay practices of homebuilders.
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Good morning everyone coming up at 8:30 eastern time we'll get another read on the labor market the latest weekly jobless claims are due out an expected to come in at 405000.
That would be down from the previous week will also get the latest on international trade the trade deficit is expected to narrow to 51 billion dollars.
Meanwhile the Labor Department is investigating pay practices at some top homebuilding companies.
According to the Wall Street Journal the department's broad demand for records has even led to some complaints of regulatory overreach.
Faulty group Lennar DR Horton and KB homes all received letters instructing them to immediately turn over information.
Including names Social Security numbers and hours worked for all employees over the past two years.
Letter also asked for the names of all contractors hired during the past year but it did not allege any specific law violations.
And while a lot of attention is focused on the president's upcoming speech tonight.
Today also marks the first meeting of the debt super committee the group is charged with finding one and a half trillion dollars in deficit reduction by.
