Jobs Miss Eases Fed Pressure, Cassidy Backs Blanche for AG, More
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How is Africa’s digital growth shaping future investment opportunities?
A new chapter in global growth is being written and much of it is happening in Africa.
Africans need to invest. There are deals to be done and business to be won.
I'm Jennifer Zabasaja. Every week on the Next Africa podcast, we track capital flows and political shifts shaping the continent's future.
Digitalization of Africa is gonna power its growth. Bridging the world of something like HIV is possible. Population growth is so enormous in Africa.
Listen to Next Africa on Apple, Spotify, or wherever you get your podcasts.
News when you wanted with Bloomberg News Now. I'm Nathan Hager. A surprise drop in jobs last month is giving a boost to stocks this morning. Right now the SP five hundred is up six tenths of one percent or about forty-six points. The Dow Jones Industrial average is three-tenths percent higher for a gain of about 165 points, and the Nasdaq composite is leading the gains up one point one percent or three hundred points. Tenure Treasury is down nearly. Three basis points close to four point six five percent after the labor department said the economy lost twenty three thousand jobs last month and the unemployment rate fell as well to four point one percent as more people left the labor force. New Century Advisors Chief Economist Claudia Somme says this will take pressure off the Federal Reserve to hike interest rates next month.
The thing that would get the Fed moving towards rate hikes the qu the fastest were if there was any sign of overheating in the labor market, this is exactly the opposite of overheating.
Claudia Som of New Century Advisors was on Bloomberg surveillance. Markets are now betting the Fed won't hike rates until December. President Trump says he'd like rates to go down before November and the midterms. But in an interview with Punchball News, the President acknowledged that Fed Chair Kevin Warsh can't lower rates on his own without the Fed board. This week, Bloomberg News reported the president has spoken with Walsh several times since he took over as Fed Chair. White House economic advisor Kevin Hassett says that shouldn't come as a surprise.
Kevin Warsh, the president, have a very close long term relationship from New York City, from Florida, and and the they talk about the economy all the time and I talk to Kevin as well as does Scott Besson. And so that's like not really news.
National Economic Council Director Kevin Hassett says he's sure President Trump does not give Chairman Walsh interest rate advice. Hassett was a guest on Bloomberg Radio and television. President Trump's nominee for attorney general has just gotten some key backing. Outgoing Louisiana Republican Bill Cassidy says he will vote to confirm Todd Blanch in the Senate.
What impact did the surprise job loss report have on U.S. stock markets?
Mr. Blanche is not perfect and he will tell you this. But the choice is not between perfection and Mr Blanche. It is between Mr Blanche and another acting attorney general, who may not run the department effectively under President Trump. And who And indeed may not be as good as Mr Blant.
Republican Bill Cassidy spoke on the Senate floor hours after Alaska Republican Lisa Murkowski joined Maine's Susan Collins against Blanche's nomination, with Mitch McConnell still out of the Senate. That gives Blanch just enough votes to win confirmation, with all Democrats against. In the Middle East, Iranian lawmakers are debating the wording of a proposed deal with Oman to reopen the Strait of Hormuz, as President Trump says in a The agreement is getting closer. We get the latest from Bloomberg's Dan Williams in Jerusalem.
What they're trying to do is exact compensation indirectly. through the tolls or the tributes or if you like the service charges that they want to exact from shipping that would come through Hormuz in the event of a deal there. Apparently one of the things holding up is disagreement over the degree to which the Iranians could exact this that kind of toll, how much money and whether they'd also be able to inspect cargo on ships that they would have inspection rights over.
Why are analysts saying the latest jobs data eases pressure on the Fed?
Bloomberg's Dan Williams reports Iranian lawmakers are also debating whether to block U.S.
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Chapters
6 chapters
1
How is Africa’s digital growth shaping future investment opportunities?
0:00–2:25
2
What impact did the surprise job loss report have on U.S. stock markets?
2:25–3:40
3
Why are analysts saying the latest jobs data eases pressure on the Fed?
3:40–4:51
4
How is the Senate confirming Todd Blanche for Attorney General?
4:51–5:50
5
What are the implications of the Iran‑Oman Strait of Hormuz negotiations?
5:50–6:38
6
Why did Saudi Arabia, Turkey and Pakistan sign a mutual defense pact?
6:38–7:05
Speakers
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