thirty thousand jobs in september the largest gain since february while a report from the institute for supply management showed services sector activity hit a twenty one year high in september the data helped heal son the ten year u.s. treasury note hit its highest level in over seven years. that's clearly very good news for the u.s. economy let's bring in our new york financial correspondent in new york who has been following the story for us and it's good to see you again what does wall street make of these apparently really good numbers. yeah the economy remains hot and it is pretty likely that we are actually right in the middle of the longest expansion faces in the history of the country by the way we will get more economic reports especially on friday when what analysts estimate will show that the unemployment rate dropped to three point eight percent and we haven't seen the unemployment rate lower since nine hundred sixty nine so in almost fifty years and wall street those numbers obviously they're not too scared of higher interest rates even if the movement if you mention it was the yields on th

thirty thousand jobs in september the largest gain since february while a report from the institute for supply management showed services secretary hit a twenty one year high in september the data helped heels on the ten year u.s. treasury note hit its highest level in over seven years. that's clearly very good news for the u.s. economy let's bring in our new york financial correspondent in new york who has been following the story for us and it's good to see you again what does wall street make of these apparently really good numbers. yeah the economy remains hot and it is pretty likely that we are actually right in the middle of the longest expansion faces in the history of the country by the way we will get more economic reports especially on friday when what analysts estimate will show that the unemployment rate has dropped to a three point eight percent and we haven't seen the unemployment rate lower since nine hundred sixty nine so in almost fifty years and wall street does those numbers obviously they're not too scared of higher interest rates even if the movement if you mention it was the yields

. >>> two economic reports are on today's calendar the institute for supply management index will best construction spending both due out at 10:00 a.m. eastern time >>> i'm going to read this and say -- someone did just point out to me ge's had like six ceos in history supposed to be there for 20 years. this is unbelievable >> what was this 14 months? >> just a little over a year that's a first i was trying to figure out the original dow component, thomas edison. >> clearly they were not moving fast enough. and you look -- i mean, i'm told -- i should say, sources say that trien was not the top mover in this. when you have an activist on the board, there is definitely a little less patience than, perhaps, has been applied at other companies. >> there's nothing, like, crazy personal nothing weird. after all, people are innocent until proven guilty normally in this country >>> in a lawsuit filed against papa john's. the company he founded as the battle between schnatter and his pizza chain continues. kate rogers is there with more good morning, kate >> reporter: hi, joe good morning th

of the pieces of data that we got today and if you guys have never heard ism, institute of supply managers, ism report foraugust 2nd, highest reading in history. robust domestic demand but you pair that with worker shortages, we have a very tight labor market, wages will go up, inflation ticks up, but aren't these all decent signs of robust economy as teddy said? >> they are, what we are in is a dance, the dance you carry up interest rates higher. if for a moment scares the stock market, the stock market drops, we hear that we will go over 3.2%, 3.25, magic number, the market comes down, it gets used to it and says, jeez, we are not so bad and comes running back to you. that's exactly the dance that we are in. we are in a dance where you wait for setbacks and money comes into the markets and keeps driving it higher and as teddy said, third-quarter earnings will be stelar, you'll be talking in a week or two about how good things are and not high interest rates. liz: we've had the fed, phil, this week alone of two hedge funds. let me restate that, the closure, two major hedge funds are closing up shop becau