Motley Fool Money: 11.08.2013
Motley Fool Money
The Motley Fool
4.4 • 3K Ratings
🗓️ 8 November 2013
⏱️ 39 minutes
🧾️ Download transcript
Summary
The government reports some surprising employment numbers. Twitter has a big debut. And Tesla tumbles. Our analysts discuss those stories and share three stocks on their radar. And we talk about the business of big banks with financial analyst Mike Mayo, author of Exile on Wall Street.
Transcript
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| 0:00.0 | Everybody needs money. That's why they call it money. |
| 0:09.0 | From full global headquarters, this is Motley Fool Money. |
| 0:19.0 | Welcome to Motley Fool Money. Thanks for being here. I'm your host, Chris L. |
| 0:22.0 | Joining me in studio this week from Motley Fool Funds, Tim Hansen |
| 0:25.0 | and from Fool.com, Matt Copenhefer and David Hansen. Thanks for being here, guys. |
| 0:29.0 | We've got the latest on housing, the entertainment industry and more. |
| 0:34.0 | You may have heard about Twitter's IPO. We will dig into that. |
| 0:37.0 | And as always, we will share a few stock ideas to put on your watch list. |
| 0:40.0 | But we begin this week with the big macro. |
| 0:43.0 | Third quarter GDP grew 2.8% and Friday's jobs report showed 204,000 jobs added in October and Matt. |
| 0:51.0 | That was kind of a surprise because the consensus was for around 120,000, |
| 0:56.0 | I guess analysts thinking that the government shutdown was really going to affect that number turned out to be wrong. |
| 1:02.0 | Yeah, count me among them. I figured that October was going to look pretty bleak given what was going on at the government. |
| 1:09.0 | The numbers look really good. The employment numbers obviously look a lot better than people were expecting. |
| 1:14.0 | The GDP growth looks a heck of a lot better than people were expecting. |
| 1:18.0 | Also better than last quarter. Last quarter was 2.5%. |
| 1:21.0 | Fun fact though, last quarter's advanced reading of GDP. |
| 1:25.0 | So for second quarter, the first time they looked at it, 1.7%, revised to 2.5%. |
| 1:31.0 | So this 2.8% number that we're seeing right now could really be anything. |
| 1:35.0 | By the time they're done with the revisions, could be pretty much anything. |
| 1:39.0 | So I wouldn't hang on that too much. |
| 1:42.0 | Also with the GDP, consumer spending up just 1.5%, that's not a particularly fast growth rate. |
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