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Unemployment Rate Rises to 7.9%

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  • Duration 4:51
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-- those of you just tuning in the US workforce added 157000.

Jobs to start the year off the unemployment rate.

Also rose slightly Fox Business is Peter Barnes that the Labor Department with us with all of those numbers and Peter for those just getting -- -- run through this report for us again.

Yeah that's right Diane seven point 9% was that over the came in in January it was expected does remain steady at seven point 8% which is what we saw.

In December nonfarm payrolls going up a hundred that the 7000.

We did see some revisions however for -- November and December that added a 127000.

Additional jobs to the route to the previous reports that what was reported earlier by the labour department of part of this is -- as we've been saying to this big.

Annual benchmark revision that the Labor Department does basically it gets.

More accurate -- -- from.

From employers and state unemployment insurance tax rolls and for the year it turns out that the economy added about 400000.

More jobs than originally reported 2.2 million for the entire year about 181000.

Jobs a month and bush and whether or not that was about the same number that which are created in in -- when he eleven.

As well.

This unemployment rate though are ticked up a little bit here because we did see a slight increase in the size of the labor force and a decline in the number of people who.

Reported to the Labor Department in that separate.

Household survey the household -- it does.

Sought about a 140000.

People say that they lost work and as a result we saw the unemployment rate -- -- All right that's Peter Barnes live from the Labor Department -- it's always great having you on -- -- are dead and thank you.

And -- less than thirty minutes away from the opening bell on Wall Street taking a look at futures we got green house across the board Dow futures are now at triple digits up one on 9110 now.

It's -- p.s of about ten points and the nasdaq's up 22.

Let's get a preview of what else -- expect this trading day from the cold -- a leading it on the floor.

The New York Stock Exchange Nicole we got a slower than expected job creation number -- higher than expected unemployment rate.

And yet futures are soaring are -- getting any any indication on the floor of why that's happening.

Well so far so good here for -- stooges we've obviously seen the trend to the upside we've had two days of selling and here we go digesting some numbers the revisions.

From the prior month certainly are -- good news so that's something that -- traders will focus on look at what's going on with the futures up behind it and ten points.

Right now so obviously looking like -- higher open.

This morning -- start off with some names and as we note up arrows Bank of America Citigroup.

Looking really good here as well it's also take a look at doubt thousand ano please continue to focus -- are they getting bought out what will happen without hours.

Continue to hear about silver lake and that according to Reuters on the Bloomberg is that this -- -- on.

February sports so keep an eye on Dell because -- -- looking up.

Over -- 5%.

Today also keep an eye on the story that we talked about yesterday which is Constellation Brands Anheuser-Busch.

In bad.

That continues we are seeing bad -- being upgraded this morning.

Over at Bernstein -- -- up -- up over 2%.

But on the downside -- have socks and actually downgraded now and Deutsche Bank.

Deutsche Bank is another bank here looking pretty good this morning with -- -- -- ILC Carnival Cruise Lines.

As a winner and Taylor DryShips also looking ahead.

It's an airport office we have earnings -- -- -- some some have reported some haven't but Chevron Exxon Mattel -- Tyson Foods.

We'll -- latch on aims to change.

And keeping you busy it called -- -- lady read this morning technical.

And Merck says its fourth quarter profit fell 7% from a year ago as generic competition continued.

To weaken pharmaceutical sales if you back out one time charges.

Merck earned an adjusted fourth quarter profit of 83 cents a share two cents above the estimate.

Helped by sales and -- -- new via diabetes drug and it's guard is still vaccine against cervical cancer.

Revenue fell four and a half percent from the prior year to eleven point seven billion dollars but that also beat the estimate for eleven point 48 billion.

Looking ahead.

Merck said it expects to earn an adjusted profit of between three dollars sixty cents a share and three dollars seventy cents in two point there'd be any estimate there is for 368.

We're getting auto sales numbers in today we already have them from Chrysler the company says sales rose 16%.

Last month compared to year ago they were expected to rise 18%.

-- December the company -- 10% rise.

Let's take a look at commodities now -- gold have been mixed most of the morning we have oil now down by about thirty cents trading at ninety.

-- 97 dollars of alcohol is up eleven dollars and eighty cents.

At 1673.

And a Imus in the morning continues right now on Fox Business.

Giving -- the powered across.

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