Hello from the senior producer!
The debt ceiling drama is behind us for now..
Now we find ourselves once again on the verge of what some are now openly describing as a second recession. New jobs numbers out today will not ease people’s minds.
Challenger, Gray and Christmas will release new numbers for July today showing private employers increased layoffs by 60% to a 16-month high. That’s 3 months in a row of increases in jobs cuts.
Obviously with the deficit hawks in control in congress.. jobs will not be coming from the public sector anytime soon.
Add that to Moody’s putting the U.S. on “negative outlook” yesterday, negative reports on consumer spending, housing, and manufacturing and you’ve got the recipe for potential disaster..
Stocks on their longest losing streak since 2008. Today Asian markets are down 2% and Europe down 1%.. dow futures suggest we will get a small bounce at the open but remember the Dow closed down more than 260 points yesterday.
We are focused like a laser on the economy today..
All of that and lots more. And we want to hear from you. Click on the America's Asking tab to weigh in!
Talk to you soon!