jon: welcome to "bloomberg markets." matt: looking at gains pretty decent after a miss on the jobs report. he would have expected stocks to rally a little more but we are up about two thirds of 1%. you also see yields hanging where they were over four on the 10 year and over five and back down a little bit, hanging around that level.

you can see the u.s. dollar index down 1%. still the strength we have seen has been surprising or would have been if you told them that at the beginning of the year. crude up $1.61, so crude gaining ground. jon: energy stocks, a collocated day in canada. the market is rallying a stop the u.s. jobs report. stronger than expected jobs report, 16,000 positions created, triple what economists were expecting. we have an interest rate decision for canada next week. most of the big banks are expecting once again we will see an interest rate hike, ugly 25 basis points by the bank of canada.

matt: two jobs report on this continent. on the u.s., likely to keep the fed on track to raise rates. this is how lack rocks rick rieder interpreted it. rick: it is a solid report, softer than the headline, but you are operating a 3.6% employment rate. data continues to show labor is in good shape. it was encouraging. you are talking about a lot of jobs open. i think you have to parse it finally to say it is solid. jon: let's get more perspective. a great round table, liz mccormick and mike mckee. start with the more specifics. we heard the reaction but what

were some takeaways as you look deeper into this jobs report. mike: basis for everyone examining it is what is the fed going to do with it? 209,000 is still more than twice what you need in terms of job creation to absorb the new interest to the labor force. it is a strong number but maybe we got off track yesterday, but as rick rieder wasn't noting, the unemployment rate goes down to 3.6% in the fed is forecasting we will be at 4.1%. more jobs created in the household survey and more jobs -- fewer jobs lost. you are seeing strengths in both assets and also in wages, 4.4% annual rate, a point above where the fed thinks it needs to be. until we see something having --

happen with wages and slowing of job creation, the fed will be on track to raise rates. jon: as you sample what the interpretation is, at what point, even if some see rakes high comment they it viewed as a risk? liz: it is funny you bring that up. i had one trader say to me, the fed is going to hike in july and he is saying that is a stake, they are going too far, things are starting to turn, albeit slowly. there are people saying this 500 basis points already in the system is we will feel more pain. the general view is the general view is the fed will go again and it seems to be we are jumping over july. the question is what happens after that. we don't have a meeting until september, jackson hole so it is a long few months about agility. matt: we have cpi coming out

next week. anna know mike is jetting off to jackson hole. what is the most important to watch for the fed? liz: it is the bond market. austan goolsbee was saying something like a soft landing. i think if cpi comes down, the july at hike i think will happen but that will build a feeling maybe they will be able to pull this off to slow inflation without crushing the economy. i know others think a recession is coming but we haven't seen it yet. matt: a lot of people have said or have been saying for a while that we are in a recession and we don't know it and now saying the data is worse than we have ever seen it.

we would really have to lose a lot of jobs, wouldn't we, in order to get into a situation where we would be considered in a recession? mike: we would have to see business spending and consumer spending fall off, neither of which is happening. so the markers used to set up a recession are not there yet. this is a very divided economic community and bond market because there are half of the people who think we are going to go into a recession in the fed is going to go too far and another half think the fed is on track to land that plane softly. one of the things that will be interesting next week as there is a lot of fed speak. we heard that one thinks lags are not there. therefore they need to raise

rates further will they do that or not is an interesting question. september, they will price in july as a done deal and we will see what happens september, whether they go to in a row or go back to pausing. jon: when we are taking the temperature with the kinds of bonds investors are curious about, i was talking to david rosenberg yesterday, can we go longer duration and we talked about the challenges for the longer duration debt, what are they willing to make right now? liz: front end rates are high. we saw two's go over 5% of the fed could go a little more in. the real bank for your buck as things unravel and stocks coming

off, that is where the long and will work. last year we had the anomaly of the stocks and bonds both down but people think goods are -- rates are good to lock in and will balance the portfolio. people are avoiding the short end and hoping that long and bonds are a rate coupon and it may work as things unravel. matt: goolsby said we are on a golden path, the golden point austan goolsbee was making that weekend ease grope without -- growth without triggering a recession. aardvark zandi was saying he prefers the term "slow session."

mike: the chances have improved but it is how you define the soft landing, if they can get reflation down without a recession you would probably call that a soft ending. matt: thank you mike mckee very much. it liz mccormick watches the bond market and the entire macro picture for bloomberg news. thank you very much. the liens your -- the leisure and hospitality showed a huge serve -- surge. 21,000 jobs created, something like we have seen over the past

14 months. let's get a look with carolyn. your industry was it the hardest during the pandemic shut down your you have come roaring back in some ways. what is the situation like? carolyn: it is a mixed bag. we suffered great losses and we are happy that small businesses are benefiting and restaurants. we are in a balancing act trying to deal with the rate hikes and how it affects our business and how it affects how we handle wage increases i think some places are busy right now. some resorts are higher seasonally but overall it has

been a soft summer for restaurants. jon: i think back to the pandemic and so many restaurant owners if they could stay afloat they tried to stay afloat, even taking on debt and how they are navigating getting back to business some of the headaches they took on years ago. caroline: we are all digging out and suffered hard financially. we went into deep loss and that and it seems like people are going out again but we are so far down in a whole it has been a precarious climb out and a very few are driving jon: -- very few are driving. jon: what will be your message

to washington with the rate hikes? caroline: to please stop. every time i know they are trying to tamp down wage increases but we are stuck in the middle. we have cities instituting wage hikes that we have to keep up with. it is a challenge to keep employees making a living wage, it is still hard to hire people. i don't many restaurants that still aren't open for all services because they can't not enough ways, especially when you are having a soft summer and wages are increasing outside of our control, it makes it impossible. so please stop. matt: they are also trying to eventually tamp down food inflation, which has been huge. if i look at cattle prices this year, they are up 85% -- 35%.

and across the ag sector, how are you dealing with that kind of inflation on your menu? caroline: that is the thing, we need to increase menu prices dramatically and holding off as long as we can. we understand customer sentiment drives desire to go out and where they are going to go and if you're prices are too high you lose your customers, but at the same time the costs are up so it makes it more precariously. and the restaurant industry is notorious for low profit margins and it is making it more and more difficult to break even but it is all about and you increases unfortunately. jon: how is the consumer holding

up? matt: is the consumer going out to dinner on a regular basis and still ordering pricey pieces on the menu and drinking as much as awful? -- as much as possible? caroline: there are people who spend but generally people are being more choosy about going out. people get scared off by the rate hikes. i know every time i see an increase, our reservations drop off. people get scared financially and think doing need to spend that on. dinner, maybe not. -- that on dinner, maybe not. jon: as people get into the business or navigate through, what would be your piece of advice on things they should be thinking about going forward? caroline: oh, my, whenever people tell me they want to get into the restaurant industry i

talk them out of it. you just have to be really, really well-funded. you can't open a restaurant without having enough capital. being very cautious about spending $.97 of every dollar that comes into the restaurant goes out into the local economy but also on the costs so you had to be ready to be fiscally responsible and tight. i think it is important to have a vision and have your point of view because it is about setting yourself apart and people are choosy and sophisticated in terms of where they are going to dine and you need to hit it out of the ballpark with your food and hospitality and experience. matt: glad to get your insight,

caroline styne , talking about the restaurant industry. the one million-dollar fine for alibaba could pave the way for an ipo so shares are soaring. this is bloomberg. ♪ the first time your sales reached 100k with godaddy was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what you make. start saving today at godaddy.com

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jon: this is "bloomberg markets." alibaba has been on the move today, best day since march after china imposed within $1 billion of fine a fintech

player. that might seem like a negative but they see it as a crackdown on the tech sector. jack ma anchored beijing calling off regulators, viewed as a potentially new chance for growth and the ipo plan. matt: we will be watching the chinese dragon companies that trade in the u.s. very closely today and next week to see if this marks a return. blessing jack ma pictures back of him at the office after he kind of disappeared for a while. now that we get the possibility of the potential of an ipo again, that would be good news for the sector, even when china is having a difficult time economically. jon: you have seen the u.s. tech

stocks surge but alibaba below its peak. we will see if the tone changes. coming up, how much would you pay for a career coach to help you land a fully remote job? we will get the numbers on that. this is bloomberg. ♪ somebody would ask her something and shlk right pa. she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i started crying. i could hear everything.

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jon: this is "bloomberg markets." time for today's for what it's worth. $3000 is how much it can cost if you want to land a work from home job. there are specific career coaches charging that some for people who want remote gigs that have become a lot harder to get post pandemic so everyone is interested and taking on a coach. matt: let's bring in joe

constance -- jo constance. half of the people want from home but only -- how much longer do you think this incredible demand? will last? -- do you think this incredible demand will last? jo: the supply was better, closer to 20% or over 20%. it has come down a little. it is under 50% of applications are for fully remote roles but it is still up there, even though the supply has come down quite a bit to 11%. i can see it hovering there for a while until people realize this is not going to happen or is not very realistic for most people. jon: what i loved about your story is it highlights if we are

talking remote work, there may be people around the world trying to get the same gig so you point out you get a little help also there may be some too good to be true the stings out there that turn out to be just that. jo: that is a huge thing that the coaches are looking out for is the fact that some of the jobs, it is easy to get people give over personal information because it sounds great to get paid a ton of money to sit home and work. you have to be wary of that but the demand is so intense, sometimes listings will owe of and thousands will submit and it will be taken down in 24 hours. it is very competitive. jon: so you -- matt: so they are helping people for $3000 fee what is the success rate? jo: he was really frank with me

he said early on last year, there were more remote jobs available and his success rate was about 80%, just going to the basics, having people do best practices in terms of tailoring the application for the role and now he said the competition has gotten more fierce and a lot of people are getting frustrated. matt: jo students wrote the story about a thousand dollar coach who could help you, maybe, get a fully remote sweet gig. gains on the s&p 500, more than a half percent. not making back what we lost. jon: we will continue to watch this market action as we move toward the closing bell. this is bloomberg.

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>> no rest for the weary. life from bloomberg headquarters in new york, romaine bostick kicking you off to the close here on a ride afternoon. a bit of a dip in buying as we had to the weekend. that is leading to modest gains on the day for the s&p 500. we should we not that it is not enough to erase the modest losses for the holiday shortened weekend. energy and materials and discretionary stocks lead to gains. mosaic first sold there were big gains on the day with a pharma names as the biggest laggards. the big fix yesterday is back low 15 and the