Futures tick up ahead of jobs data
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 5 September 2025
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.1 | It's so good to be with you on this Friday, September 5th. I'm Julie Morgan. Here's what we're following this morning. |
| 0:15.9 | The jobs report headlines a busy day. The DOJ is seeking damages from Edison over two California wildfires, |
| 0:24.4 | and Open AI is working on a new chip project. Futures are in the green ahead of the opening |
| 0:30.5 | bell as traders look forward to the Big Jobs report. S&P futures are up 0.2%, NASDAQ futures up 0.4% and Dow features are flat. The 10-year |
| 0:42.6 | treasury yield is flat at 4.17% and the two-year yield down one basis point to 3.61%. Of course, |
| 0:51.6 | one of the big headlines today ahead of the opening bell will be the big jobs report |
| 0:56.2 | and is expected to show a fairly steady unemployment rate. On average, economists expect non-farm |
| 1:02.9 | payrolls of just 74,000 in August, slightly above 73,000 in July. They see the jobless rate inching up to 4.3% from 4.2% in July. |
| 1:15.6 | Traders will also focus on any revisions. Deutsche Bank's Jim Reed said today sees the first |
| 1:21.7 | of three massive days for markets in the next nine business days. The payrolls are today. The CPI is next Thursday and the |
| 1:29.4 | FOMC decision the following Wednesday. He goes on to say that ahead of today's start to this |
| 1:35.1 | run, markets have put in a strong performance over the past 24 hours. After soft data, |
| 1:40.9 | men investors became increasingly convinced that the Fed would cut rates this month. |
| 1:47.0 | Two California wildfires are back in the news, one from earlier this year and another from three years ago. |
| 1:53.5 | The Department of Justice filed two lawsuits against Southern California Edison. |
| 1:57.8 | The DOJ won $77 million in damages and accused the Edison International |
| 2:03.9 | Company of sparking the Eton and Fairview Wildfires. The department says repeated negligence |
| 2:10.6 | led to the destruction of tens of thousands of acres of federal land in the two wildfires. |
| 2:16.6 | Edison International closed 1.2% lower on Thursday. |
| 2:21.3 | The DOJ claims a faulty power infrastructure controlled by SoCal Edison or sparks from the |
| 2:27.3 | infrastructure caused the Eton fire from January of this year. The fire killed 31 people and burned 8,000 acres. The lawsuit related to the |
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