I'm Dan -- New York mark futures up today. -- on offense and the jobs report but -- right up at those numbers came out and this upcoming after the record label the NASDAQ and the S&P 500... See More
I'm Dan -- New York mark futures up today. -- on offense and the jobs report but -- right up at those numbers came out and this upcoming after the record label the NASDAQ and the S&P 500 yesterday. I want to bring in Jeff MacKey from Yahoo! finance to break down today's jobs numbers and Jeff come on I -- a smile I see is -- I see. Rosy glow in your cheek you've got a morning MacKey. A little -- spring in my step. What it does junior chambers -- him a little higher than ending up an entry. Gotta have goals what he got less well. -- we have unemployment nonfarm payrolls -- number in the history of the world on a monthly basis. And this month we had some good results for a 165000. Jobs added to the economy. Unemployment rate fell to seven point 5% as always the economist can either proceed as as -- glass half full or half empty. And both have -- pretty good argument OK but -- can't put this into -- -- expectations were relatively -- going into these numbers. They are relatively love it revised hours we've seen in quite a while we've had weak data running into this. We saw that sequestration get a little more headline action because of the FAA selling us as a people were really the whisper number was closer to 120000. Or something like that. And so to come in -- 165. That's great this is a huge rally based on a number that. On -- -- be any confusion are 65000. Jobs for nonfarm payroll number is not any great shakes. Normally been this excited you be looking at 20250. So it's really mattered expectations as I was somewhat -- -- also some changes to the numbers from march and February correct. Yeah we were revised up words it's a good growth -- always wants the revisions to see which way the trend is really going and so as long as revising those past farmers higher. It's hard to be all that negative those are better look anywhere and -- April -- one spot three days ago ordered just -- it. This data yet to take it would not just a grain of salt and entire brick of -- Salt -- -- a lot of sodium I would consult with your position. Before you take any of Jeff -- medical advice but what. Those job numbers coming out -- I think expectations there about the concerned about -- about February and now we're going into obviously the latest. Wall Street's strong showing. -- little bit of an economic -- It's on Wall Street moved to very little economist as a rule not get that excited about much of anything. I don't think economies integration examined were doing better than the rest of the world and for now that's good enough people make the mistake -- -- -- economy in the stock market are connected at the hip. Not so much the stock markets -- -- earnings more about expectations and -- Keynes called the animal spirits. Right now the animals are kind of -- and her nostrils -- a little bit buying stocks. That's what you're saying -- less of a vote on the economy vanity is kind of where you gonna go oversight isn't in the stocks. Arsenal players went -- and what's the Fed gonna do it as an entity -- -- on the gas pedal on that quantitative easing measures they've been so. So much hammering for or again isn't just kind of status as it -- that it goes. Well you know what worries me is -- idiocy that unemployment rate ticking downward which makes -- nice headline but the Fed has said. That when unemployment gets the six point 5% -- -- ease off the gas pedal. Seven point 5% unemployment rate is actually the weakest statistically of any of the numbers tonight's headline but that's not so great so I don't wanna see the fat lighten up here. In terms of what they're gonna do you know it it's every statement they released man in -- when this week. They're gonna do what they need to do their vigilant there eternally vigilant poised cat like almost ninja like. Ready to do either we'll stimulate more -- less dependent on what the data tells them. So we -- that's what you are after respect and take Bernanke at face value when he says that we're gonna do whatever we need to. Ben Bernanke with -- -- -- that's an image right there that -- -- some excitement Wall Street face a court from those unemployment numbers on to the Fed report out to talk but banks because JPMorgan he has been a bit of a problem. And JPMorgan dollars and trouble but Jamie Dimon is just that a hockey just a pox on Wall Street and ask for. I've no idea what -- the appeal is he's like Tom Cruise -- people just smooth over any. But -- whether trying to -- -- separate his role as chairman. From CEO an -- it it it's he's never and that much trouble and chairman has lost our pretty much symbolic. Particularly mr. -- case against whatever he does that's where whatever he says what JPMorgan's gonna -- was -- you can call on chairman and CEO involved what are you want. He's in charge JPMorgan as a tempest in a teapot. To quote one of his rather unfortunate statements so closely scrutinized all that we've got the weekend ahead of us jet shot at JC Penney this weekend. No it and others -- right thing by taking out their apology and they're so very sorry that they called their customers or at least implied that they were. Sort of brain damage and very old and that they would like a new younger customer base. They ain't that those ads that they've come out -- like them they can mount a big apology -- -- it's rare for corporations to do that. It's interesting though that the ads were in production when the last CEO was still in office. And so this is going to all of this great -- this great change that the new administration that JC Penney is making. It's not. I would give them if your JC Penney shopper that has been alienated in the past I reject the apology man show up at Christmas and see if they really mean wow well -- got a couple must wait and see if -- Helping of but to finish -- force when it comes to this time its sales register yeah. She urged the millions of people's flocking to JC Penney might want to just slow it down -- -- is interesting because obviously Ron Johnson the way that he -- -- -- the company with one price and that was it. Which is obviously that the framework that apple has always operated under. Why -- with think that it's gonna happen -- a retail especially -- retail you know like JC Penney. Well you know it it's -- and actually had some really good ideas this wasn't one of them. People like discounts -- like to feel like they're getting a bargain everyday low pricing works if you have products that people really really really want. But what he did instead was he alienated those customers right away by just basically -- discount heroin. He compared them to crack he said that people are just essentially not Smart enough to realize -- -- great value every day. It turns our customers don't like to -- it. Shot here for a yeah about his early on their innovation there indeed be just I hate you compromise on buy things turns out that's a bad strategy. But -- edged -- things got a lot of work to do. Yes well we'll wait and see how they're gonna -- through those changes but before it's going to look -- S&P just broke 16100. 1613. Right there what ending for Wall Street a great couple of moments that we're starting off. And take a look at the big board jet for which ago the Dow is trading up a 135 points 141967. Jeff -- is always a pleasure sir have a great weekend -- you my friend.
This transcript has been automatically generated and may not be 100% accurate.