Your latest in business and finance from ABC news now. Watching live coverage of the opening bell and ABC news now -- -- podium this morning. Leaders of the campaign to fix the deficit non -- Several... See More
Your latest in business and finance from ABC news now. Watching live coverage of the opening bell and ABC news now -- -- podium this morning. Leaders of the campaign to fix the deficit non -- Several large companies and out there they're doing the honors to get trading off work today. Thursday October 25. Well. Everyone I'm Dan Butler in New York some breaking news the weekly jobless claims out within the past hour -- -- the numbers and the implications for the election now just twelve days away. Jeff MacKey co host break out on our partner Yahoo! finance Jeff good to see this morning. Good to see among them are -- that weekly jobless numbers the up and ultimate -- exactly for the election fell to 369000. Quite drop down 23000. Or so which candidate is going to be jumping on this one. -- -- them in our -- kind of it's kind of wanting number of the 369000. None of them where those rich CEOs -- stand there talking about the deficit problem. These are getting the layoffs are huge and I don't think that this number being -- a one off is -- really provide any insight into the jobless situation overall. Right now Obama is claiming that the economy is getting better Romney's and it's not getting better fast not this number doesn't change those rich CEOs and so yeah. -- -- indicated guys are gonna fix the deficit -- -- eighty -- I think battered credibility problem as I don't think many people take them all answers and since you know they're billionaires it's a nonprofit campaigns that we have to give them some got a credit for doing something that isn't making them any money anyway regardless. In recent months unemployment rates obviously been dropping -- -- not seven point 8% this study just came -- from Bloomberg this morning showing that firings. Are at their highest level since April 2010. 62600. Job cuts have been announced since September 1 what do you make of that -- I'd trust the actual numbers on the layoffs and I trust the company's you know without Wall Street we'd like to say don't look at the numbers -- much as what the guys say. Because realism in the tone of these conference calls and listen this CEOs. They're cutting back they're trying to make their earnings estimates by gamer a staff and they continue to do that and so it's nice. But the unemployment rates going down but anecdotally and when you hear from these companies themselves. They're not only not hiring they're still firing people -- -- a robust economy and frankly I don't really care for company -- earnings in terms of economic tell I want another hiring people. It's really simple are -- expanding your business the answers no. And that's the real problem. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- The big theme that we have so far is that the companies are missing in terms of revenues people aren't spending all that much money there's not lot of money circulating in the economy. But you know -- knock people off your earnings are going to be just fine. So that's why I'm -- shaky right now and -- really knows what to make of that because again. It's nice that you meager earnings estimates but if you're not going to business eventually sort of flat line and right now everyone's they're good dogs alarms right there they're -- -- short little arms account regional pockets to spend money. Because we have this fiscal cliff coming up with the election coming up. No company is no corporations and frankly lot of individuals have much idea what they should be doing right now and so -- -- -- -- -- frozen in place and that's the theme of these earnings. I would -- something better I'd like -- refreshing break and have some company beat earnings by nine miles and say things are great I haven't heard yet -- from about 250 companies so far nothing like that on the horizon Apple's coming out their numbers today what -- -- -- for. Huge numbers you know you'd expect in earnings beat a little reason for pause -- that -- you know -- the upgrade of the the tablet today. Pat there that I that I did spot some months ago on an almost thousand dollars foreigners now obsolete -- -- -- the iPad -- I -- -- man buys them. I just accept less effective gesture actually read it can that he can disposable after what a year or so and actually it -- a separate months and seven months in this case which is part of the problem it -- kind of hints. And maybe the iPad sales weren't as strong as expected and so -- -- -- -- on people's throats. Before anticipated and so that's really wanted to be watching everyone knows the talent industry's super hot. But that used to be true for laptops for best -- as well. It's slowing down a little -- known as the -- Apple's doing in that environment Microsoft's also make -- -- -- -- coming out with their windows eight. And I said it could also be a -- not only for Microsoft also for best buy. -- you can you can cut the tension with the chains on there's excitement. -- the -- -- best buy has taken 50000. Trading hours to train their staff teach people how to use windows eight. Two problems that won an operating system shouldn't be so complicated that you need someone to train you how to use if you click the start button click the programming -- -- -- the races. Number two if -- best buy and I warn on earnings over and over again my stock is down 50% for the year -- 5% overall. I'm training people to do something else I would like them deal to -- your product frankly I don't win a best -- I would just like some guy with the keys to -- a little video game box I can get something for my kids I'm not finding those people in the stores I don't wanna buy when. Is -- it is very -- -- -- we're heading I think what 61 days until Christmas not that anyone's counting until that holiday shopping season starts but. Regardless -- -- more options -- on the list. There -- selling snowman and its microprocessor and -- -- and now that I know that -- that excited about an -- and hot I would -- budget outlook for -- I'm pretty sure that's awesome Easter egg -- well Italy today as well let's go to take a look at the doubt before we go it's up eighty points at thirteen 1156. Early trading. Jeff MacKey thank you so much -- have a great day. You to.
This transcript has been automatically generated and may not be 100% accurate.