The January Jobs Surge, Uber’s Profitability Forecast & Singer vs. Softbank
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 7 February 2020
⏱️ 43 minutes
🧾️ Download transcript
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| 0:00.0 | Market Moving Insight and Analysis. |
| 0:02.1 | Join Jim Kramer, David Faber, and me, Carl Cantonia, |
| 0:04.9 | on the opening bell hour of CNBC Squawk on the Street. |
| 0:12.0 | Good Friday morning. Welcome to Squawk on the Street. |
| 0:16.0 | I'm Carl Kintania with Jim Kramer, David Faber, the New York Stock Exchange. |
| 0:19.0 | Stocks are set to take a breather at the open after four days of robust gains. |
| 0:22.5 | And now, a solid jobs number, 225,000 well above estimates, wages strong, |
| 0:28.0 | participation rate at a seven-year high. |
| 0:30.4 | Contrast that with the manufacturing data in Europe, very weak. |
| 0:33.9 | You see Europe's right across the board. |
| 0:35.8 | Oils struggling to hold 50 and the 10-year |
| 0:38.1 | below 1-6. Our roadmap begins with the warm weather jobs boost, January payrolls surging. |
| 0:43.5 | Stocks are still poised to retreat, though, with the Open. On track, though, for their best week |
| 0:47.3 | in eight months. We'll get reaction for the White House with Vice President Mike Pence later on |
| 0:53.4 | this morning. Plus, shows the Uber are spiking this ahead of the bell. |
| 0:56.6 | The company did say it's going to be profitable sooner than we thought. |
| 1:00.3 | CEO Derek Kuzra Shahi telling CnBC Uber plans to put a majority of its revenue growth into the bottom line. |
| 1:07.0 | And Paul Singer versus Massasan, activist hedge fund Elliott management, taking a $2.5 billion stake in SoftBank. |
| 1:14.1 | First, though, the better than expected January payroll number includes the addition of 206,000 private sector jobs. |
| 1:20.7 | Unemployment ticks up to 3.6. Labor force participation also increases. |
| 1:24.8 | Wage growth up three one year on year. People are wondering, Jim, why yields are not acting as you might expect. We did get these benchmark revisions down. |
| 1:33.0 | It's incredible. I think that there should be. I mean, the big job gains are exactly where you would move interest rates. They're in construction. |
... |
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