Jobless Claims Hit New Low, VW Hiring Soon

Jeff Macke explains how markets are reacting to recent news on jobs.
8:39 | 03/22/12

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Transcript for Jobless Claims Hit New Low, VW Hiring Soon
Everybody -- down Cutler in New York breaking news this morning new jobless applications they have again hit a four year low. Joining -- -- -- talk about this breaking news and all the business headlines for the day and the -- Jeff -- cohost of break out. On our partner Yahoo! finance Jeff good morning to you Demorrio down -- -- with the jobless claims big surprise when and that's when right 340000. That's what happened last week down 5000 from last week as we said it hit a four year low. Encouraging signs I mean is this a rebound for good. Oh absolutely on the trend side we've seen that number going lower week after week and that's terrific read we broke at 350 barrier -- well. This morning that was the surprise 352 were give -- -- was expected. In Latin you know we're translator from Latin rather just market -- this is good news means more folks are are getting jobs and that's obviously bullish for America. And carpet DM right things continue on the Latin trends seize this moment then maybe ever wish you get out -- give the resonates -- -- if companies are -- higher against one of the companies' hiring both -- -- announced that in the past hour they're gonna -- 800 jobs at a plant in Tennessee. Big impact right well. -- that's not so much -- 800 workers but rather the trend that we're seeing for years American manufacturing jobs been transferred overseas it's just been cheaper new business there. Well it's becoming more expensive to hire people in Asia. That means those jobs are coming home amassed just fantastic news we're seeing the southeast in particular. Benefiting from this trend insured. Continue going forward and that just means more jobs for more Americans -- these -- pretty good jobs to. This is not 88 career that comes and goes -- the economy but rather something a little more dividend to lasting throughout economic ebbs and flows hopefully. That means a stable base in American good jobs. Is that generally true across all the automotive sectors -- -- you find manufacturer like that if they're gonna make got a job -- that these are pretty solve this is not a temporary work right. Well yeah you know it it's obviously every job in the economy is going to be affected of the economies particularly bad those jobs go away as well but there -- a lot more stable. And say folks in the strictly service industries working retail jobs restaurant jobs are a lot of those temporary work type situations. These are jobs that tend to stick around and Volkswagen Honda lot of other companies are making big monetary commitments. They're here to stay and that's fantastic news changing of the guard at the golden arches McDonald's. They're switching up some power players as CEO Jim Skinner he's retiring so we expect some change is adding new objectives. And -- Ronald. I hope not I absolutely hope not McDonald's as one of the deepest benches and all of -- Americans have lost some CEOs in the past. Over about a couple decades ago they had some CEOs and tragically died to them. And they replace those CEOs about even misstep of any sort on the corporate side. McDonald's is defined by consistency of their stores I don't expect to see any change then again -- -- the -- shareholders so I sure hope that's the case. Yeah and obviously given the number one spot among the -- -- retailers. Earnings that are going to be coming out today FedEx and Nike lululemon or -- -- I suppose if you want to. Get the French pronunciation and there what are expecting big numbers. I know we've seen a lot of those this morning not terrific numbers they're impacted by gas prices a mediocre consumer wherever you're seeing this -- Is a lot of numbers in -- -- -- just a little bit squishy FedEx for example came out. -- numbers more or less in line some cautious guidance with translator from Wall Street. Means that the outlook going forward for them they're not really sure what's gonna happen this quarter a lot of it depends on what's gonna happen with fuel. Their business is clearly impacted by the price of energy. They don't even know what impact -- exactly is going to have on their business so it's kind of a big question mark looming over all of us. Homebuilders stocks they have hit to -- high correct. Advancement and if faith in the housing market -- -- -- -- springtime selling off -- pretty buzz ebitda. -- ever really big when it's time. Now we're really not unfortunately I'm about to say that we're having a huge improvement -- this was the year in the northeast where winter simply never arrived. And -- pulled some of that housing demand that you see in the spring. Forward and they ended January and February we got some new home sales they're actually existing home sales day yesterday. A mild disappointment so will see over the next few months. Whether or not people are really organically. Out -- shopping for homes or is this just a passing fancy in terms of the numbers. -- supplements -- in the trading day -- in the Dow down about 58 points thirteen 1066 still above thirteen thousand mark which has a couple of weeks ago -- like I was almost not gonna happen but. I want to go overseas now for a minute Japan reporting a surprise in fact in their trade surplus for the month of February. What's going on Evans and -- Japan has not been doing too well in the past month and year frank. In the past quarter of a century out ever take down -- since 1989 when the Nikkei peaked in Nikkei being the Japanese version of the Dow. It's been pretty much downhill ever since that now this year so far in 2012 knock on -- quarter where Japanese bonds I tree. It's the Nikkei is up 20% best performing index in the entire world so maybe there's a speedy recovery going on there. Interestingly for Americans. The Japanese improvements were actually boosted. By imports into America and Canada meeting up for the losses that this on China and Europe so that's again another nice little data point for United States. Out very going to be gaps that need more of those data points he'd check -- and -- -- line or other big development of the day coming out of China. Factory activity they are slowing. I know ripple effects and earlier here about China's economy in a kind of maybe slowing down a little bit cooling off really I mean what kind of -- that we see here -- helmet but. Really it affects all the exporters on people who -- -- -- and really the core manufacturing people make copper people make this stuff. That -- stuff BHP Billiton a company that exports copper and other type of materials. They -- about China -- Chinese themselves are saying growth is slowing to remember. Growth slowing in China brings it around to about 7% gross domestic domestic product and United States. We've been doing the used to be happy to -- BDD data anywhere near that gross domestic product so take a with a grain of salt. All right our goal to go to the commodities for a minute and of course the most beautiful one -- all. Seemed to be kind of play back a little bit from record highs Wyatt why -- seen this it's. Pulling back alive much of it is technical selling which from traders tend to look at these levels so gold was trading for 17100. An ounce. Once that level gave way -- a lot of different selling happening you're also seeing. Kind of peaking towards American US economy improvement. That makes go a little less attractive it's not a great investment just yet give -- a couple more hundred points the downside maybe you should be time for investors to take a look. At that glittery shiny precious metal. And yeah well listen speaking of glittery shiny and all things that don't attract a lot of attention here in new York and really across the country everybody's talking about Tim Tebow. Joining the jets. I gotta get your thoughts on this that if you don't what it wanted to hear your best -- that's all right but from a standpoint from a business standpoint. What does get -- main. -- a business standpoint if he starts it'll mean a lot to be sitting on the bench. It's mostly going to be bad news for Mark Sanchez the existing cornerback for the jets because every time -- prisoners session which -- -- is quite often they're right they're gonna get the chance of Tebow Tebow. Frankly I think it's a fantastic acquisition for the jets have done 180 -- out overnight they got a good player good athlete anyway. Verb like what amounts to bag full of footballs and fifty cents I think it's a great acquisition form just in terms of their then team. But we'll see actually what that means economically so far not so much frankly would've been better off. From down to Jacksonville or Miami which are some -- Right -- as nurture -- editing can keep an eye today. -- looking at Dollar General not I want those retailers that we saw dollar general's interest in their their one of those. Companies in the middle of the flyover states as we -- justly -- out here on the East Coast but very impacted by gas prices and -- one of the hugest questions whenever consumers. It's how they're being impacted -- those prices at the pump. Dollar General turned and a great quarter and that means people are driving to get to those stores these are places you walk you. -- rather places you drive you. That's good -- -- for shippers for railroads. For other retailers out there who really drive this economy would focus on a bunch of banks and stuff out here in the New York area. Listen what really drives economies what's happened and and the other 48 states Texas California New York. Good news from Dollar General HA extremes exactly it's those flyover states the heartbeat of America right Jeff -- from -- partner Yahoo! -- thanks for joining.

This transcript has been automatically generated and may not be 100% accurate.

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