What does July's Job Report Imply About the Economy?

Real Vision: Finance & Investing

Real Vision

News, Business News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 7 August 2021

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Aug06,2021: Real Vision senior editor Ash Bennington welcomes editor Real Vision founder, Raoul Pal, to discuss market price action resulting from the July non-farm payroll report and Robinhood’s wild week of trading. Pal looks at equity sectors that he is watching and explains whether the positive jobs numbers forecast long-term economic strength. The pair looks at Robinhood’s large move higher and dives into the influence of the retail trader. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:24.0	Go to Salesforce.com forward slash 360 to learn more.
0:30.0	Welcome to the Real Vision Daily Briefing.
0:42.0	It's Friday, August 6, 2021.
0:45.0	I'm Ash Bennington, joined today by Real Vision's CEO and co-founder, Rao Powell.
0:51.0	But first, the stories we're looking at, non-farm payrolls.
0:55.0	This time around, US economy added 943,000 new jobs in July.
1:02.0	That's up from 938,000 prior month revised in June.
1:07.0	Today was a beat median estimates calling for 870,000.
1:11.0	The unemployment rate fell to 5.4% in July from 5.9% in June.
1:19.0	This largely before the Delta variant news seeped in to the public consciousness.
1:25.0	Here we are looking at markets today, basically flat, fractionally higher on some of the indices.
1:32.0	The S&P 500 closing out the day at 4436 up 0.17%.
1:38.0	Finding nationals and materials up on the day, big tech down.
1:44.0	And also a story that we are watching, Robinhood, absolutely scorching.
1:48.0	We'll talk more about that with Rao Powell, who joins us now.
1:53.0	Rao, welcome back to the Daily Briefing.
1:55.0	It's good to be here and I'm very pleased it's Friday.
	...

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