Jobs Claims Rise, Housing Starts Fall

Aaron Task analyzes the morning business headlines.
3:00 | 08/16/12

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Transcript for Jobs Claims Rise, Housing Starts Fall
You're watching live coverage of the opening Allen ABC news now written about -- in this morning. -- -- park. You know. They. Make -- special live now. Natural gas out of -- Good numbers. A lot of markets today with that ring a bell. Beginning entry for today Thursday August 16 everyone down Cutler -- New York breaking news coming out in the past hour. New numbers -- -- jobless claims and housing starts. Joining me now to break these numbers down -- -- -- possibly give us a direction to where we're headed the other business headlines as Welles -- -- editor in chief Yahoo! finance. And host of the daily ticker -- how are -- today. Morning Dan are you good thank you are -- -- -- weekly jobless claims last week they rose just as just a bit up 2000 claims. To 366000. What does it mean for the overall economy when you get something that -- -- just kind of -- 2000 at some light little inquiries. Yeah I mean it's unless it's a non event but it was it was pretty much in line with expectations. A number around these levels is fairly consistent. With what we've seen the last few months meaning. A job growth in the low 100000 range which is not great but it's certainly better than losing jobs and so. I think the street is sort of looking at this thing OK you know again -- in this Motley along economy and this is more proof of well and I want -- -- because jobless claims obviously one aspect the housing market is something else that a lot of people study -- take a look to see if they can find out. Which direction we're heading housing starts they cannot they dipped. -- -- 1% for the month July. But in this is an interest -- -- though is that there at a four year high right I mean so is that an indication that even though they get that little better than 1%. They're still at a high. That we're in a recovery mode. Yeah I think I think generally speaking the housing numbers -- seen the last several months showed that the housing market has clearly bottomed for that most of the country. And in certain parts of the country is is rebounding very slightly but still picking up. Some positive momentum again a lot better than that collapse we saw a few years ago and these housing start numbers this morning you can look at -- UA's it was down a little bit. But less new homes and -- knew who is being built. Is actually kind of the good -- because the big risk for the housing market is that you get a lot more supply of homes on the market that would overwhelm. The demand that it's just starting to creep back in. All right also up this morning we've got numbers coming up from Wal-Mart in -- years. How these companies been doing -- -- -- economy is not easy but it off encompassing that discount retailers can still kind of make a bit of a profit. Well I mean. Big distinction between the two company in new Wal-Mart the world's largest retailer. They had a solid quarter. Not agree quarter -- continues to really struggle in their same store sales were down across the board with for this year stores. For Kmart stores and Sears Canada. Overall sales did. It's just it -- -- kind of disaster house to put it but. They're not the giant of retailing -- they once wore Wal-Mart is and you know Wal-Mart is telling us that the of the consumer. He's doing a little bit better but still being very cautious with -- went through that huge image transformation is that what I mean is still -- kind of going through that right now the past couple of years. The kind of remake itself over obviously. A bit when you're competing against those other big boxes and it's it's tough to do want to look at the other numbers are gonna prove out. Yeah I mean you know I I think -- this points years is really kind of very special situation. It's gone off -- in a direction that not many retailers have gone into you there. Part retailer part real estate play they're owned by -- hedge fund manager not a traditional. Retailer and they've made some major stumbles and I think -- alien a lot of of their core consumers and customers who are gone elsewhere we odd. Plenty of choices most parts of the country where to go a lot of those people is that I'd rather go to Wal-Mart -- I'd rather go to TJ Maxx or Bradley dollar or. -- aware of the case may be target in some cases and so it's going to be very very hard first years. I think to get back anywhere near where once was I think a lot of us -- officers was one of the -- retailers in America it's it's far from that today you know -- I've ever. The -- speaks Sears catalog when it comes -- Christmas time filling -- the wish list. Hey you know apple I think arguably comes out -- these products. That -- seems to kind of blow away expectations every time -- the iPod -- the phone whatever it is. Apple TV they'll never really took off I mean it really made a pretty big -- in the markets and they're going back into this is this. Apple TV 2.0. Well there's a story in the -- -- journal thing it is that suggest that apple is taking a different path. With with TV that you -- the apple TV you can buy you -- basically watch you know -- Browse the Internet on your TV and there are a lot of expectation they were to come out with another version of that this fall. The journalists saying that they're talking with some cable companies. About apple making a set top box that would replace the the box you get from your cable company. You know it it would help the cable companies get out of the hardware business. Which is capital intensive business but then they'd be getting into -- with apple and if you look at what Apple's done to the music industry there's a lot of caution but. It suggests that apple is still very much thinking about what strategy is -- -- Because it definitely wants to get into the TV business -- -- that is sort of the holy -- is. The next great frontier for apple really a lot of technology companies controlling the living room and so there they're trying. You know again this -- -- speculative story -- singer talks between applicable company's but it suggests a different approach. From apple and we've heard in the past and so we shall say let's take one last look at the -- -- ago Aaron. The Dow trading up about eight points at thirteen 1172. -- task from Yahoo! finance Aaron thanks for joining us to have a great day thank you.

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

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