Nvidia's record-breaking stock buyback
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What is the main topic discussed in this episode?
Where is this economy going? Oh wouldn't you like to know? From American Public Media, this is Market Play.
In Los Angeles, I'm Kai Risnall. It is Monday today. This one is the twenty-eighth day of September. Good as it always is to have you along, everybody.
What do rising bond yields signal about the direction of the economy?
The first couple of minutes of the program today are gonna be about time, about where the economy might be going and about where it has been. It is often said here and elsewhere that if you want to know which way the economy is going, the bond market is where you ought look. And with the caveat that yes, we have been doing a whole lot of bond stories the past couple of weeks, the story That the bond market is telling us just keeps being reinforced. Business activity is strong, government debt is high, the geopolitical narrative is unclear at best. And so today bond yields across the curve. That is, the interest rate the government has to pay on almost all of its notes, bonds, and bills. Those yields were up, again in some cases to nineteen year highs.
So at the very least, the economy yet to come is going to be more expensive. We are also going to learn some things about the economy that was this week. On Wednesday, we'll get what was, once upon a time, the Federal Reserve's preferred measure of inflation, the personal consumption expenditures price index for the month of August. We'll get data on home prices. That's coming from Kay Schiller. And a whole bunch of data on the labor market, the job openings and the labor turnover survey. That's Joltz, right? We talk about that all the time. It comes tomorrow. ADP's private sector employment data comes on Wednesday. Weekly first-time claims for unemployment benefits on Thursday. And then Friday, the Biggie the September jobs report.
What are economists watching for in the September jobs report?
So Marketplaces submit the fields, ask some economists what they're going to be looking for in all of that data.
Last month's jobs report was surprisingly strong. It showed the economy added more than one hundred and sixty two thousand jobs in August, up from just twenty one thousand in July and thirty one thousand in June.
The big question is, was that a blip or was that the data trying to tell us that things weren't so bad?
Justin Wolfers at the University of Michigan says that's what he'll be looking to see when the September report comes out this week.
The most important thing is not to overreact to any one number.
There's always volatility in the data, which is why Heidi Shearholtz at the Economic Policy Institute says you want to look at the last several months together. What we've seen recently is that the labor market is okay. There's like good news and bad news. The good news is that the unemployment rate is low. It's hovering just above four percent and has been for a while. Job growth is solid. Not great, but it's solid. Layoffs are low. So if you have a job, you are no more likely than usual to get laid off. So that is very good news. The not so good news, Shearhold says, is that wage growth is weak and there's not much hiring going on. We are talking now about hiring rates that are roughly where they were in like
Two thousand ten, two thousand eleven, in the just unbelievably weak labor markets right after the Great Recession. You can see that in the growing number of people who are long term unemployed. That's a number. Brian Williams at the Groundwork Collaborative will be paying close attention to this week.
We haven't right now more than a quarter of our unemployed workers that have been out of work and looking for work for six months or longer. And I think that that's a a troubling sign.
A sign of weakness in an otherwise fairly solid job market. I'm Samantha Fields for Marketplace.
Wall Street today sell, sell and sell again. We will have the details. When we always have the details.
Why is Nvidia spending $150 billion on stock buybacks?
On a generally grim day for technology stocks, NVIDIA did all right for itself, shares up almost a percent and three quarters for the session. Of course, it does help that the company said it's going to spend $150 billion to buy back more of its own stock over the next couple of years.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:02–0:31
2
What do rising bond yields signal about the direction of the economy?
0:31–2:05
3
What are economists watching for in the September jobs report?
2:05–4:30
4
Why is Nvidia spending $150 billion on stock buybacks?
4:30–7:50
5
Why are rural communities facing a volunteer firefighter shortage?
7:50–12:27
6
How can return-to-office mandates force workers into early retirement?
12:27–15:43
7
How did stocks and bond yields perform in the market wrap?
15:43–16:52
8
Will holiday spending hit a record despite high fuel and shipping costs?
16:52–25:57