hiring. what does this mean about the future of interest rates? reportthe jobs vindicated federal reserve's decision to delay liftoff? devonte market seems to think so. we will talk about when traders are now predicting the first rate hike in nearly a decade. bethe russian president may trying to assert himself on the military front in syria. where is he losing the most ground at home on the economic front. we will take a look at the economic update. >> i mark crumpton. >> i'm scarlet fu. >> bloomberg news has learned the financial stability board will phase in a loss absorb and see requirement for the world's biggest banks starting from the low end of its proposed range in 2019 according to three people

with knowledge of the decision. holdings, led by hsbc and j.p. morgan chase, will need to have capital and debt available to take losses in a crisis equivalent to 16% of their risk-weighted assets in 2019, rising to 18% in 2022. togetherwhich brings regulators and central bankers from the group of 20 nations, plans to deliver the final rules for endorsement by g20 leaders. a spokesperson for them declined to comment. bank's: the authorization to make new loans expired in june. the congressman of tennessee says he's confident he will get enough supporters even though many republicans are opposed. mark: the gunman who killed nine people at an oregon campus on thursday reportedly singled out christians. studenter of a wounded

said the gunman asked those in the class if they were christians, then opened fire. nine people were killed, seven wanted. one woman said she survived by playing dead. it happened at a community college in a rural town. the gunman was killed in a shootout with police. president obama expressed his frustrations. president obama: the reporting is routine, my response here at this podium ends up eating routine -- being routine. the conversation and aftermath of it, we have become numb to t his. we talked about this after afterine and blacksburg, tucson, after newtown, after aurora, after charleston. time it was the 15th president obama has addressed the nation after a mass shooting took laced since he was in office. authorities say the alleged killer was armed with three pistols, a rival, and five additional magazines.

walmart is laying off workers in bentonville, arkansas. the cuts have long been speculated upon. weeks ago, walmart's profits declined. the largest cuts at headquarters since 2009. staying on jobs, we want to bring in julie hyman with a look at how markets are reacting. initially a negative reaction, risk-off. julie: it's been an incredible day. initially the number looked bad enough. it sparked concerns about global growth. now we seem to have her treated from the same playbook that we have seen over the past year or so. retreated from the same playbook that we have seen over the past year or so. whether are not that is a good thing for stocks and any fundamental way, that is debatable. that we haveay

seen stocks react to this sort of thing. take a look at my bloomberg terminal for the sectors and how they are performing. we are seeing energy and materials as the best-performing groups today. financials remain the big lagger despite the rest of the market recovering. financials have not. rices tracking with the s&p 500 you have oil in yellow, the s&p in white, and essentially that is why you see the energy stocks as the best performers as well. just as we saw the turnaround in stocks we saw the turnaround in oil prices as well. health care to most of the gains today. julie: this is the group that is contributing the most to the gains today. pfizer rising. it's not necessarily biotech broadly that is bouncing back today, but health care. health care bouncing back from

the big losses we have seen for these stocks recently. just as we've had these reversals in stocks we have reversals in other asset classes as well. the 10-year, which had dramatic move downward in the yield, has been drifting back up. very importantly, still below 2%. still reflecting the view that we are not going to see a -- see higher, which would make sense given the data today. and the dollar is a, also seeing somewhat of a recovery. much like the 10-year note we are seeing lower here. a reversal for those markets as well, but not recouping the movement we had seen earlier initially at the jobs report. scarlet: thank you so much. maybe things will change in the next two hours. mark: you just heard julie talking about the markets. investors to still on edge after

the report showed weakness across the board. joining us with more perspective is shawn matthews. we want to get your take to the jobs report first. ofentimes different parts the report seemed to support contradictory point of use. that is not the case this time around. guest: it was a bad number. if you look at the reaction to the number, it was appropriate for what the number said. people are questioning whether the fed is going to raise rates into this year. it looks like next year is now on the table. wright, rked our josh bloomberg economist within the last hour, is the strong dollar to blame for this? a lot of people were expecting something in the 200,000 range. what happened? shawn: it's partly the strong dollar. the markets were starting to react to a slowing economy. in the high-yield market you are

starting to see cracks there. the energy complex has been under tremendous pressure the last six to nine months. they are pulling back from their expansion plans. there's a dramatic traction in the minutes after the number came out. it was risk off, treasuries rallied. phasee grown out of the where bad news is seen as good news. bad news was considered bad news. now we are coming back again. what's going on? shawn: people want to put money in the equity market when they can because you are still going to be at a zero interest rate environment where it you look to buy assets and hold assets for an extended period of time. i always thought the weak point was the high-yield market where you are seeing a lot of volatility, not that much liquidity in the marketplace, and people are trying to decipher where there is opportunity there.

everyone is looking but no one is buying at this point in time. the equity market has seen people come in and participated -- participate. last month was a horrible month. i think people want to have the market go off, so people are looking for opportunities to buy. mark: what did wall street tell us about how they decipher the jobs report? now we areop and seeing a try to regain some of that. shawn: absolutely. that will be the play into the end of the year, people looking to put risk on. when you look at performance characteristics of the large funds, they have not been terrific. people will have to make a decision whether they want to put rsik oisk on or not. right now we are seeing some of that risk come on. scarlet: like of liquidity in the bond market has been a huge scene. i was talking about how trading in five-year notes -- there was

no liquidity. did cantor see anything that looked like an absence of liquidity? lost athe market has tremendous amount of liquidity over the past couple of years. it used to be where it took 250 million 10 years to move. now it's down to 50 or 60. it shows you the impact of less liquidity in the market place. you look at governments and sovereign entities have a crowding out effect because they buy assets and hold them. that has created less liquidity in the system as well. in general there is less liquidity and that is a problem going forward. long, and is how it incumbent upon lawmakers and not monetary policy officials to do something about this? in andwe are stepping trying to move liquidity. if you look at the regulatory environment, the big bangs are starting to look and act more like commercial banks.

it has been part of the issue. clearly we are stepping in and taking market share and we are excited about it. that is the new wave of the future, that firms like ours will be larger liquidity providers over time and that's not going to be a two, three-year thing. mark: because you want to or you have to? we wantartially because to. there is a need in the marketplace as well, as bigger financial services firms pull back because of regulatory issues. scarlet: how was the market position before this jobs report and how does that change? i think everyone was a little bit nervous about what would happen in the marketplace. relatively speaking, people were pretty guarded so i don't think there was a lot of offside. the real damage was done in the prior 3 or 4 weeks. you look at what happened in the equity market, it just exacerbated that lack of liquidity p you saw prices get marked down tremendously on

little volume, which is the new world order we live in and people will have to get used to it. mark: we will continue our conversation was shawn matthews on whether the federal reserve can keep a december lift off option alive. ♪

mark: welcome back to "bloomberg market day." scarlet: we need to check in once again with julie hyman. have been watching the

casinos today, which have been battered. today they are higher. we saw casino revenue in macau falling by 1/3, but that is a smaller drops in the prior month, and may be represented stabilization. we have seen a. 16 month slump in gaming revenue. additionally what could be helping the stocks according to a newspaper in macau, china is setting supportive measures for macau in the industry. wynn resorts is getting a huge lift. this is a stock that the 21 trading days in september was down on 15 of them. we are seeing a bounceback affect in addition to more encouraging news out of macau. mark: the second best-performing stock, whole foods. indeed, it's one of the best performers in the s&p 500, up 6% right now. take a look at my bloomberg terminal. first of all, you are looking at

the 50 day moving average for the stock. we're getting close to breaking above that level. certainly attest to that level. dsv.hing else, the this is a social velocity monitor. if it detects and uptake in social media mentions, you get one of these alerts. you can see it charted here on twitter, seeing a lot more mentions of whole foods. seem to be't anything fundamentally that explains the increase in the stock. certainly a lot of commentary on it. it is color coded in terms of whether they mentions are negative or positive. definitely a lot of chatter and speculation surrounding whole foods, even if nothing fundamental there. also looking at micron, the memory chip maker getting 4% after the company's sales and profits beat analysts' estimat es. what we are looking for from d-ram pricing is stabilization

and mike runs commentary -- micron's commentary seems to be indicating that is happening. i want to check on the stocks and how they have done this year. something that characterizes the casinos, whole foods and micron 's they are among some of the worst-performing stocks for the year to date, particularly wynn and micron. in addition to fundamental news on these stocks, we are seeing a bounceback affect. scarlet: thank you so much. mark: today's disappointing jobs report has many making the case against a rate hike in 2015. there is much debate over whether a zero interest rate policy is even warranted. there is a view that thinks the only thing working in our economy is zero interest rates. there's another view that thinks zero interest rates aren't working. that is the real argument going on here and that's not a matter of degree or tiinming.

thelet: on the other hand, st. louis fed president said the september jobs report is just, quote, one report. from our perspective, we are rejoined by shawn. window has been open for a while and it should have raised rates. it didn't and now you have volatility in asset based pricing that is real. that becomes a problem as they look to the future because there are different the issues out there as well that they are still looking at and trying to determine if there is inflation or deflation on a global basis. mark: did the jobs number today threaten a december lift off? shawn: i believe it will push them into 2016. they have said they want to raise rates this year but that will be a tough thing to do. the markets stabilize and commodity prices stabilize, that can clearly change their thought process. they are trying to get off zero.

they should have been off zero for years. zero is an emergency measure that really wasn't needed in the economy and really did not help the economy grow based on zero. 50 basis points is really not a determinant of the economic growth of this country. it, theyink about really did not play into the growth of the economy. scarlet: it is only what they can say and put out there. does today's jobs report showed the fed's models and forecasts are broken or unreliable? shawn: i don't think that trade when you look at jobs you have to look at an extended period of time. we will get a better view of the jobs market next month. necessarily -- we are still growing. it's not a horrible number.

clearly we need to hundred thousand plus to continue our growth. mark: will we get there? aswn: i think we are slowing an economy. i think we will not get there. scarlet: does the fed use the market as a key policy in dicator? hasn: it has felt like it over the last few months. the price stability is a bigger concern. with price stability in the marketplace, they have the ability to raise rates and i think they should, i just don't think they will. mark: shawn matthews is the ceo of cantor fitzgerald. great to see you on the floor on 9/11. scarlet: coming up on the "bloomberg market day," world leaders meeting in paris. mark: will air strikes in syria overshadow the summit? ryan chilcote is live at the minsk talks in paris ♪.

live you are looking at a shot of paris, france. the miskick talks today. the russian president and the french president. you are looking at a shot from the elysee palace. the world leaders gathered in the city to resume peace talks on ukraine. scarlet: the parties originally agreed on terms during a previous meeting in minsk in february. progress in key areas of that deal seem to have stalled. mark: france's president said the ukrainian cease-fire is being respected.

he said moments ago talks wrapped up with the leaders of russia, ukraine, germany, and france. the leaders were there to discuss the end of the ukraine crisis and the easing of economic sanctions. scarlet: the oil prices and sanctions only making matters worse. interventionlitary in syria this week, it could throw a wrench into any talk of ending though sanctions. scarlet: let's bring in ryan chilcote, who is live in paris where the meeting is taking place. give us a recap of the headlines that are most material. we just heard from the french president and german chancellor. they held a joint press conference and they talk a lot about syria. they said they spoke with vladimir putin earlier today and they told him -- the german chancellor said the main target of these airstrikes must be the islamic state. the french president pointed out that only one of the strikes the spark have been against islamic state. the other ones against other groups, more moderate groups

fighting against the assad regim e. assadlso said that mr. eventually must go. i think angela merkel was a bit more accommodating in her comments about that, saying at some point you will have to give up his job in his current capacity if he's going to remain in the country. it was very much about syria and what they had to say. this meeting was supposed to be about ukraine. the german chancellor said there was no link between ukraine and syria, and thus far in their conversations with the russian president and ukrainian president, all of whom just left. they made a lot of progress and things are in a much more good state right now than they were before. we watched the russian president leave. i shouted a question and he ignored it. far.is what we have so mark: what is president putin's strategy at this point?

ryan: he was to be appreciated as a world leader. i think he also thinks that assad was in danger of getting removed from office. he was losing ground, he was losing his coastal territory. the russian felt there was -- russians felt there was a vacuum they could fill. but prop up assad, because u.s. strategy wasn't working. i'm not sure that he really cares about winning over europe and ending the sanctions in the process, but he does care about appearing like he can get things done and entering the world stage. scarlet: what is the next step for these bilateral talks, if we don't get beyond these niceties? ryan: i guess the next step is, is her going to be any coordination between the russians and the us-led

coalition in syria. is, we justo that don't know. the united states and russia are off to a terrible start in coordinating in syria. it looks more like a spat between the two countries at this point. the most that anybody can hope for is a so-called de-conflicting of the two sides, where each carves out their own niche. scarlet: thank you so much. live in paris, giving us a recap of the bilateral discussion. mark halperin of "with all due respect" will be speaking with presidential candidate john kasich tonight. ♪

i just had a horrible nightmare. my company's entire network went down, and i was home in bed, unaware. but that would never happen. comcast business monitors my company's network 24 hours a day and calls and e-mails me if something, like this scary storm, takes it offline. so i can rest easy. what. you don't have a desk bed? don't be left in the dark. get proactive alerts 24/7. comcast business. built for business. scarlet: welcome back to the "bloomberg market day." let's get you some stories making news at this hour. the federal reserve vice chairman said he does not see

immediate risk of financial bubbles in the u.s.. fisher leads a committee of the central bank charged with identifying asset price bubbles. he said recent legislation has addressed problems that arose during the financial crisis. insince the crisis, changes revision and supervision of the sector, most notably those related to the dodd-frank act, and the basil three process, have addressed many of the weaknesses revealed by the crisis. but there are challenges nonetheless that remain. scarlet: fisher spoke today during a conference in boston. he did warn that the feds -- bank's policy tool kit is limited and untested. the secretary of education stepping down after the end of the year. duncan says he's returning to chicago to live with his family. he will be replaced by the deputy secretary john kane junior. moving to company news, albertsons planning to raise more than $1.5 billion in

initial public offering. the money will be used to pay down debt after the deal that brought the supermarket chain together with safeway. the sale will consist of more than 65 million shares at $23 to $26 apiece. knocking on the door of a slumping commodities trader. bloomberg news reports says they're interested in glencore's agricultural unit. glencore's stock has tumbled, losing more than 2/3 value this year, the lion's share of it in the last two weeks. my colleague,g in alix steel, on glencore. you have been looking at a fantastic chart that shows just how much more volatile things will get. onx: glencore down 30% monday and ending down 6% for the week. take a look into my bloomberg terminal. this is implied volatility for glencore stock. monthite line is one

implied volatility, the orange line is three months and the green line is six months. the more bearish the market is, the higher implied volatility goes. a goes to show the markets continue to expect weaker stock performance from glencore over the next six months. scarlet: we'll have to see how everything's going. in the meantime i want to get a look at the underlying commodities price that has caused so much of this turmoil. let's show you how wti crude is trading right now. we have seen risky assets turnaround, and nymex crude is no exception, up by almost 2%. i sound like a broken record here. alix: it's true. the count was really bullish for oil. it cut about 26 oil rigs in the last week. the idea is you pare back those rigs, eventually you will wind up paring back production.

scarlet: when it comes to the oil prices, it keeps fluctuating. here's the count you were referring to. it's her markable how much it has come down. inx: the move up we saw , optimism about drilling opportunities and that now has rolled over as well. , bank ofearlier today america's head of commodities research talk about the choppy investor sentiment across commodities. >> there has of course been a lot of investor optimism. $60 abounded back to barrel and that gave companies a second wind of life. some of them decided to postpone cuts. that has been unwound right now. again, it's a choppy market. typenk we are in a seesaw market environment.

that is what is finally leading companies to capitulate on higher prices. scarlet: what is so interesting about shale is companies are getting creative on how to keep getting the most out of their oil, which has really prolonged this oil slump. great article in bloomberg news today about choking back oil, which means you don't pump all the shale oil right at once, you hold off, you puppet more overtime. in gunsy you go blazing, you get 70% of your recovery over the first year. go drill more wells. to space are trying that out a bit so they get more overtime, but they don't get as much up front. scarlet: because there's too much supply right now. hopefully the supply will balance itself out later on. fracking wells but not completing it. this is an interesting development that could prolong it. speaking of companies,

changing the way they produce oil or drill for oil, oil production is at a 40 year high. for a look at why that's not likely to change anytime soon, we want to bring in bloomberg's david wesley. you have a fantastic story that is available on bloomberg.com that talks to the role of sand in the fracking market. the role of sand what, increases productivity of the wells? >> it's pretty simple. where the tiny sand granules are used to prop open the cracks in the rock where the oil is an that allows the oil to flow out into the well and produce. part of the reason why oil production has not rolled over is because cost inflation has been so extreme for these emp guides. what role has sam played in lower costs for oil producers? >> you have seen a dramatic drop in the price of sand as the emp havenies buying the sand forced all their suppliers to

say, what can you give me on lower prices? erall, the demand for sand has dropped. despite that, some emp's are trying to find a way to pop sand into their well to try to get the cracks bigger, to try to make the cracks longer, to do anyway way they can to get more sand out. drop in sand prices, it is sort of helping that cause of the oil companies to put more sand in the well because they are basically buying cheaper sand. the return is it is really hurting the fracked sand market. scarlet: at what point does more sand become too much sound? -- sand? >> that's the million-dollar question. at this point they are still saying more sand is good, let's push the envelope and experiment while we can, it's a little bit cheaper right now. there't really know where is too much sand but we do know that eventually there will be too much sand where the cracks are so big that they are basically touching the well

nearby, and that will end up hurting production overall. alix: how are the sand guys holding up? they are not making a lot of money for their product anymore. when do these guys have to rollover? >> it's actually happening right now. toame back from wisconsin police ago. now those sand guys are hurting big-time, looking for any way to cut costs on their end. what you're having is sand mines not right on the rail line to shift the stuff down to texas oil fields. they're having to shut down if they are not in an ideal location. aretrucking companies hurting big-time. there's a lot of fallout from this oil market that people don't realize in the sand market. where are we in the place of sand companies eventually shutting down and having a supply deficit when it comes to tod by pushing costs

producers and hurting their ability to continue to produce? >> you are still a long way off from everybody i talk to about it. the genetic drop in price, down 30% to just under $40 a ton for this wisconsin sand, it's not expected to get back up to the level of where it was for a least the next three years. the whole market itself, the value of the market for sand has been cut in half this year from last year. to reach backted last year's level at least through the end of 2017. i would say we are a long ways off from not having enough sand. your story focuses on one drill in texas. is this happening at other shell formations? extent. to a certain it's happening a little bit everywhere. it's a widespread phenomenon and it has been growing for a while.

it even happened before the downfall of the oil market. you had companies really at the start of 2014 and a little bit into 2013 where they were starting to put more sand into their well and saying, let's take a shot, more sand could be better because ultimately we need those cracks to be open. if the crack is not open, oil does not come out. what they are ending up doing is buying cheaper sand granules to put more stuff in there. scarlet: thank you so much. cohost for the next hour, will be back at the top of the 3:00 p.m. hour to take you through the market close. the chief marketing officer at general electric, is going to be speaking on the company's efforts to rebrand as a digital industrial business. p.m. s coming up at 4:30 ♪

scarlet: let's get a look at your top stories at this hour. isongressional hearing starting its own investigation as well. credit squeeze said -- credit suisse said [indiscernible] could cost vw $87 billion. software toing cheat on admissions tests. the number of oil rigs used in the u.s. is collapsing once again. drilling rigs and operations fell by 26 last week. in march, the 5th street weekly drop. higher on thened

news. warren buffett advice for a young silicon valley billionaire , give early and often. the world's third richest person has been urging tech entrepreneurs to pledge to give away have their fortunes. "the financial times" if he had been worth billions in his 30's he would have started donating to charity in a big way. volatility out of china has caused a ripple effect around the globe. we know that, but it's possibly had the worst personal impact on one particular person. the telecommunications entrepreneur was one of the world's 200 richest people. he had a $10.2 billion at the peak of the chinese markets in june. his net worth has dropped more than 80% since then. bloomberg of the billionaires index is here with this story. is he related or linked to commodities in any way? >> no, he's related to the

volatile chinese stock market, which is why all of this has happened. the stock surged the first half of the year. since then it is down 57% on the year. robert works for us on the billionaire index. this is what you see. he's not within the top 400, right? >> that's correct. he was in june. since the stock fell he has come out of the list. tell us how he came to lose so much of his personal fortune. >> telecoms is his business. chinese entrepreneurs are pledging shares against publicly traded assets. about $2.4 billion worth of

shares that he pledged in july. that's part of it. what makes him so interesting right now is he's trying to fund t in canal projec nicaragua, a challenger to the panama canal. it was something they had thought back in the late 1800s the first time people tried it and it did not work then. it's going through lots of fits and starts. a 50 year concession and 50 year project. this crash is threatening because he promised to put a lot of his own money into it. he's already put $500 million of his own cash into this project. theset: and a lot of cases, you don't see billionaires pledging their own personal fortunes. very unusual and there is so much mystery around this project. there's a lot of conspiracy theories out there. trying to flex its muscle in the american hemisphere?

nobody really knows. they just know this project feels like a pipe dream right now and it's not getting any closer to reality with this current financial trouble he's having. scarlet: we talked about how he has lost a huge chunk of his money. who is worse off than him? >> in dollar terms, they're a billionaires who have done a lot worse. for example, warren buffett. richest persone in mexico, he has $14 billion or $15 billion. scarlet: the ceo of glencore -- >> he was doing fine until two weeks ago. he's down about 65% grade he too has fallen off the index. andas in the lower range now he's well off with almost 200 billion dollars. .carlet: thank you so much fascinating story. you want to read the stories

available on bloomberg.com. we have much more coming up on the "bloomberg market day." a different take on the september jobs slow down. from the works directly with both employers and job seekers. ♪

scarlet: today's jobs report left a bad taste in a lot of people's mouths. >> this data does show the economy week. >> reprehensible he week. >>-- reprehensibly weak. >> good evidence the economy has been slowing. >> participation rate back to 1977 levels. >> as long as job growth is in

excess of 75,000 to 90,000 a month -- still growing above potential. it will still bring the unemployment rate down. >> we are almost at the sweet spot. we are not far off that 2% inflation target. off welook at how far are from the fed's target, we are not that far off. >> right now is not the time to look for the fed to be aggressively raising rates. this report had a big effect on killing off any chance the fed will raise rates. >> certainly take october out of the question. >> takes october off the table. >> going to make it even more difficult for them to move in december. >> i don't think it takes december off the table. it reinforces the question mark that has been in the back

of my mind. >> their window was probably september. >> i don't think it was september, i think it was early in the year. >> may be a year and a half ago when they should have tried to normalize rates. the monetary policy has -- scarlet: there is always going to be a reason, but eventually you wi find yourself in a situation where the domestic economy slows and you are at zero and then what the you do? let's hear from somebody who works directly with companies that are hiring. joins us fromo chicago. before this morning press jobs report, you were predicting 150,000 jobs added trade -- added. tell us, why are companies slowing down there hiring? 150,000e summer between and -- somewhere between 150,000

and 200,000. we are at a new level we have been at now for quite some time and i think everyone has to realize this is a healthy economy. i know the stock market was down to open the day. the market has been up over the past year, the past 3, 4, five years and we are adding jobs into the economy, 150,000 to a quarter of a million over the past two years. 2005 -- goinga be to be 2005 for a long time. scarlet: is that the greatest misconception on the jobs front, that this is not going to be like 2005, this is not your father's jobs market? >> absolutely. whole foods came out that they would reduce 1500 jobs. they were not doing it because business was bad, they were doing it because there were competitive companies undercutting them in the price wars and a need to figure out

how to reduce their cost. are not because the markets bad or the economy is bad. it's a competitive global market and a competitive domestic market and to do that, companies have to be careful on over hiring in this labor market. punishing thebe economy as a result. we've got to show you can't get money for free forever. uprlet: i'm glad you bring whole foods. caterpillar as well, last month announced plans to cut 5000 jobs. our companies preemptively reducing head count? >> caterpillar is an interesting thing. thanon't get more global what caterpillar is doing with the development in china and all over the world. it's a bit of a different market than what whole foods is doing. we are coming into year three of the affordable care act, looking at what the nlrb wants to do. there is a letter challenges companies are facing and because they are being prudent and not over hiring, that does not

necessarily mean the economy is bad. we still have a skills gap that exists. scarlet: your firm published a white paper on the skills gap in march. 98% of ceos say the skills gap threatens their business because they aren't able to fill job vacancies. when we get data like today's report, does that mean companies have given up on trying to fill these positions? >> no. a skills gap and it is doing either coding or big data analytics on that side of things and companies will pay those positions, anywhere from year, they$150,000 a will be more particular on what they are hiring. entry-level customer service or sales positions in the lower to mid five figures. you have people that are being a bit more cautious about the levels of people they are bringing in.

to beat the drum on education, though i'm strongly for this. we've got to get a more educated workforce coming out of high school and college that will fill the positions available that companies need. scarlet: when it comes to that, your firm places job seekers in temporary to permanent jobs. economy heads into its sixth year of expansion, how is the availability of the job mix shifted? >> there's a bit more of the remote worker. what ends up happening coming out of a recession is companies want to have more of a stronghold on their workforce. they are bringing people back into the office. now we are seeing 5, 6 years postrecession, these companies are now saying, we've got a stable revenue stream, even if we are laying off or hiring, we know what our business mix is. companies are profitable. they are more willing to get people -- let people work from home.

companies are more flexible with where people can work. we are seeing a little bit more of that. the demand ebbs and flows. you have people who say, i love being a freelancer and contractor. say, i lovee people the connectivity of being in the office. it's really an flux right now. we've got more coming up on the "bloomberg market day ." more on how investors should be digesting the jobs report. the chief investment officer at bank of america merrill lynch will be joining us next.

alix: this is the "bloomberg market day." rising less than

forecast as wage growth remains stuck. what does a sluggish hiring in september mean for the u.s. economy? scarlet: treasury yields below 2% on the 10 year. we will look at the probability of a fed move very alix: president obama will answer questions after one of the longest-serving members of his cabinet steps down. scarlet: good afternoon, everyone. alix: we are going to go straight to bloomberg's julie hyman. julie, it was a surprising day. at one point the dow was off by triple digits and now it's off by 43% -- 43 points. that was the playbook, the idea of bad news is