that was a good adp number.negative do you think about the latest pause we thought was happening? these numbers are okay. >> it's not hard to be negative. come on. feds still purchasing boat load of treasuries. if they don't have confidence in our economy without training wheels, how are we supposed to? part b is easy. time heals all wounds despite the programs that outlived usefulness. i'm optimistic. i don't know if the pace of jobs will continue. i'm very optimistic especially on a relative basis. european banks are a big negative story for the beginning of 2014. >> no one is talking about that at this point. we're talking about volcker tougher than people thought right? >> once again, i have no problems with recreating the glass steeple in modern day terms. micro managing of some issues -- hedging is important. it would be bad for them to impoo ed the process. october trade balance is a deficit of 40.6 billion. extremely close to expectations. last month ramped up a bigger red tape from originally released 4

now, usually these adp numbers are an arrest bin injury of what is to come in the molly government jobobs report on friday. let's hope. we need to create jobs. we should be creating create 200,000 new jobs. i've been optimistic about these numbers. the stock market is going gang busters. now we see job numbers that are good and hopeful. am i being too optimistic? being too optimistic. factor activities. picking up. we're seeing ryaning seeing --it's by forecation whe bby for casewhen you come out. president obama had these statements. >> since 1979 our economy has more than doubled in size. but most of that growth has flowed to a fortunate few. the top 10% no longer takes in one-third of our income. it now takes half. whereas in the past the average ceo made 20 to 30 times the income of the average worker, today ceo now makes 273 times more. meanwhile, the family in the top 1% have a net worth of 288 times higher than the typical family, which is a record for this country. >> carl, if that's true and those numbers are out there, it's not really a screen of the type of economy that sust

once more, adp upped the october report by 54,000 to 184,000 jobs. now adp is only an indication of the more important government report on payrolls that comes out friday but if two months of strong job growth are concerned, it could raise hopes for a green christmas. more people working means more salespeople spending on holiday gifts. that's the collection of economic reports. the retailers were hopeful but cautious. employers look through the 16-day government shut down and hired anyway and that suggests strength to despite the cups in washington. on the downside, the fed is looking for sustained gains in employment as a condition to reduce the amount of stomach less in the economy. if friday's report shows strong employment growth, it will raise market fears the fed could cut back on bond purchases. the market will have to judge whether stocks can have more americans working but less stimulus from the federal reserve. for "nightly business report", i'm steve liesman. >>> well, another strength in the economy has been housing but last week applica

david: a security monitor called adp. you are sticking by that firm even though did not pay off this year. why are you standing by it? >> visiting spun off from tyco, this is another recurring revenue business following the same path as directv leveraging up at low rates and buying back their stock. -@david: they did not pay off ts year, you expected them to. why didn't they pay off this year? >> there is this new growth opportunity in home automation to turn on your lights, turn on your heat, unlocked doors and adp is a leader in that. some of the hardware companies as well. there is a potential for some competitive pressure to commence this market. the market is worried about it. liz: looking at the volatility index which gave people a little bit of conversation yesterday because it touched 15 and pulled back, but we're still seeing it in the high 14. does it continue to be a great indicator of when people should buy and sell stocks? >> it really derived from the options trading and when it is going down people are sell

we did see adp coming in fairly strong. nevertheless, yields up to 2.83% yielding 2.9% yesterday. as far as currency markets are concerned, just coming back on the announcement of this stimulus package. euro/dollar, exactly where we've been all week, right on this 1 is.36 mark. sterling, 1.6374 just back from the two-year high we hit earlier, 1.64. that is the foreign exchange market. what happened in asia today? sixuan has the details out of singapore. >> thank you, ross. asia wran markemarkets tracked . the nikkei 225 dipped further from tuesday's six-year closing high ending down 1 is.5%. while china markets turned for the worst, hong kong listed shares tumbled nearly 5% following steep losses in europe overnight and that's after profit warning. the kospi extended a five-day losing streak. and australia retreated to a seven-week low after the country posted a bigger than expected trade deficit in october. but india as performed opposed strong opposition. now for individual movers, chinese telecom equipmentmakers succumbed to profit taking. zte tumbled almost 6%. meanwhile datan

adp coming in with a nice beat, 215,000, estimate was 170.he strongest adp number since last november and portends some good things for the jobs numbers coming on friday. we will get ism services in about half an hour. here's a look at the s&p at the top of your screen. here is the big board, oil and gas company antero resources celebrating its recent ipo and over at the nasdaq, the alvin ailey dance theater celebrating their new performance season. >> you were talking about the ebay downgrade even during the break. >> david was so right. now all downgrades are created equal. ever knows evercore does quality work. this reads like a quintessential be careful. two weeks ago they were not talking about earnings, they were talking about -- this is too intelligent of a downgrade to stay in it if i owned ebay. >> for the last 20 years i've given a lot of hard times to analysts, for good reason. there was no wall between banking and research and it was a free for all but even now there are many analysts who are not particularly good, who are young o

. >> a payroll processor adp says the company's and small businesses have added 215,000 jobs in novemberd as a private employers added 184,000 jobs in october, much stronger than they initially estimated. the atp numbers cover only private businesses and often divergent from the government's more comprehensive report. >> the time is 6:30 a.m.. we are continuing our team coverage of the cooler temperatures this morning. we are watching how cold it is out in san francisco. kron4 yoli aceves is live at the ferry building. >> lookit this person. this person as an exercise and so he is hot but if you are just going to work or school and you are taking public transportation you want to be bundled up. the lumber that you stand out here the colder you will get. it is funny because it has been hard to get people to talk to me because it is too cold. there were few people who spoke with may. >> 41--is the coldest it is not all that cold relate. and >> i am freezing. maligned i hear what you are saying but people are laughing at me. >> i see you are stretching your shoulders. >> i am doing this tho

clearly the adp number, and put more credence in the adp number because it's real data, real paychecksy adp and real counting. the market itself, as i said earlier, looked like it has made an important multi-year top. the market sold off today on that news and will continue to sell off. i didn't sell any more today ahead of that number, but i think you have to look at any time you get any sort of two or three or at most four-basis point increase or decrease in yield you need to sell into that bond market. >> how far do we go here? back at the levels we were the day before the fed didn't taper in september and gotten up to 295, almost 3%. where do we go from here. also talk of a budget deal. take that out of the way maybe the fed doesn't need to be as dovish. where are you asay mid next year on rates? >> i think you can take the ten-year sometime next year, well above 4%. 4% does not stop anything. i'm amused that you go wow to 4%. i remember trading the long bond when it was 14.25% and certainly trade when it was 10%. >> that was in the '80s when there was major inflation and there's a

joe just mentioned the adp report due out at 8:15 eastern time.recasters say the economy probably added around 173,000 barrels last month alone. we will preview friday's government report. we have international trade coming along with productivity and cost. at 10:00 a.m., we get new home sales and ism nonmanufacturing. finally this afternoon we have the fed's beige book. 21 of the 30 dow components actually declined yesterday. the blue chip index dropped for a third straight day. this was a little bit of a drop because, again, three days in a row we haven't seen anything like that in several months. if you're wording about

, the largest payroll processing firm in the country report, i am telling you, ignore that adp number, too. it's meaningless, people. in fact, the adp employment figures have no reliability as a predictor of what the big daddy, non-farm payroll report will be and that's the only employment report that i am telling you you need to predict and be worried about. you do need to predict and worry about it, though. however, while you can ignore the monthly picks you cannot ignore this labor department non-farm payroll number, as i look back on each bulletin that came out on friday night after the monthly jobs report release. i have five years' worth of data. i was astonished at how it could be. any disappointing employment number leaves a lasting impact that can take weeks of declines in its wake, really, and if it's followed by another bad number, you get a further decline, even though the market has fallen in the precipitous numbers of accounting and you need to see three months of stability meaning no further job losses and not necessarily job gains before the market will actually stop d

we got some adp data for private sectors, that was good news. also our home numbers so new home sales did bp estimates, that was good news for the month of october when we saw a big jump, the obvious initiative helped the group overall. it was the biggest jump we had seen increase in over 33 years, however you are seeing pulling back. kb homes within a barrel. people buy between now and spring because that is the hot season. adam: nicole petallides, thank you very much. wall street's fear gauge is still gaining ground. in the pits of the cme. a whole lot to talk about. on track trifold largest streakf gains since last year. phil: you consider a market that had no fear. stocks are going up, the vexed at a low level. all changing, up almost 18% in those last six days and i can see why. the party in the stock market has been going on for quite some time. we had to face important job numbers this weekend as well as a strong possibility the fed is going to lay the groundwork for tapering before ben bernanke leaves office. might as well give ben berna

however, the jobs report, the adp number was very strong, better than expected. they raised the november estimates as well, because that was more bullish than expected. i think those are all positive signs. >> let me flip the question. if rising rates don't kill the rally, do rising rates change the way you invest within this rally? the places you look? >> no, because you always want to have quality investments. >> are you going to buy housing stocks. >> as a matter of fact you're exactly right. what's moving up today? what was the first sector to moving to the up side, the housing stocks. take a look at tolle. >> the housing number is good. >> the building numbers, those guys moved up. hey, pete, this went from 275 to 282. rates are rising. i think people have to digest these numbers because when you look at 30-year and all the rest of the different housing when you're talking about mortgages and all the rest of it, it's still at the low end. it's not the bottom but it's at the extreme low end. take a look at the way the financials turned and burned today. we ta

we'll see what happens, especially on the heels of the spread, the adp report, which was better than a lot of people were expecting. so we'll watch the spread there. thanks. i know we'll talk to you again tomorrow. steve liesman. >>> so the right way to trade all of this on the back of the backward-looking but better-than-expected gdp, better-than-expected jobless claims, better-than-expected adp, and now what is the most important jobs report in a long time. >> the steepening yield curve, right, we've talked about the financials. i totally disagree with the downgrade from the deutsche bank that says the steepening of the yield curve is bad for banks. it's good for banks. it's good for growth and loan growth. industrials, also, very positive, as the yield curve steepens, because it implies that better gdp. and, also, economic growth, and josh just said, what if we get the global markets to start to participate and see a little better growth, and it could take off in terms of the earnings front. >> the next guest overseas citigroup north american sales trading in business or originati

the adp report, 8:15 eastern time. strong jobs number. stocks drop because better chance that the taper would begin earlier. ism report at 10:00, showed a weak jobs outlook. stocks rallied on that. less chance of a taper. put up the dow intraday and how confused things are. the important thing the market did move up on that numbers at 10:00 a.m. eastern time but it's sending confusing signals about jobs and the bottom line i don't think the market is interested in moving very much ahead of the friday jobs number. want further proof of the confusion, look at the housing numbers, look at the home building index here. the itb, etf for home building stocks, that one moved up as we got good news on the october new home sales, but then drifted lower throughout the day because there was a lot of confusion about the september numbers. earlier revisions downward. bottom line, bottom line right here sue and tyler, focus on the jobs number. the market moves on those headlines and that's what everybody is focused on down here. back to you. >> roberto

nicole: you mentioned adp, which was better. we also got new hom home sales numbers better than expected, we are seeing the market with three straight days of selling and they might have scooped up some opportunity. right now dow jones industrial of 41 points, a gain of one quarter of 1%. microsoft hitting new highs, goldman sachs and united health care and other leaders. intel a winner. the fear index up 6 days in a row, is pulling back a little bit. it was interesting to watch very closely to mak seve it would toa seventh day of gains. the longest streak of gains since april of 2012. boosting the share buyback program 8 billion, heavy volumes, big news, keep an eye on that one. back to you. connell: lawmakers have approved a measure to overhaul the state public employee pension system. dagen: jeff flock, we have moved him back to chicago from detroit, he has more on this story. jeff: huge week on pensions. springfield, illinois, where they said they think about $100 billion on the reform the past yesterday that the governor sa

the adp one is concerning. those accounts might be at risk.ge paychecks. hackers could have gone access to personal information. they may have been able to cut checks. for some perspective, adp pays one in six american workers. the big question what should you do if your information is at risk? first of all, change your password. if it is 123456 or password, get rid of it, never use it again. versions of the numbers, 123 and 4, and word password are most common passwords. i got off the phone with trust wave. they notified companies about the breach. there is 90,000. that is lot to do. they're not sure who was responsible for the attack yet. they worn it is impossible to track down how many servers ran the malicious software. so millions more could be affected here. you may want to update your antivirus software in the meantime. there is vendors like web root and of course trust wave that sell services actually block you from visiting a bad website. these are to be considered because millions of people are affected. jon: that is pretty scary st

obviously, it's come up certainly after adp.ove the needle unless it's an extraordinarily strong number. to the extent the fed is focused on it, you've got inflation declining and below their target. so if they're looking for an excuse, even in the face of a stronger jobs number to wait until there is a chairman's transition, they may be able to point to inflation being below their target. so i still think the better bet is early 2014. >> all through the commercial break, we continued this conversation about whether or not they should raise the minimum wage, whether there should be a minimum wage, and obviously this will be something that's front and center. steven, your thoughts on this. >> well, i hate to say it, i agree with joe. i don't think the -- >> or the government, you hate to say it? >> no. the government has no idea what the right wage is for any segment of society. what we do know is the national income is being skewed more towards capital than labor and that's a social issue we need to address. >> my view is if you

did that go up after adp, liesman? not because they didn't survey again. >> oh. >> there were some guys who raised it. but that actual consensus remain the same. >> and we now know that adp actually -- >> went up a little bit. >> moved the dial by 5,000. >> thought adp might be better because they do the work involved. >> as opposed to the government. can you check that post again? what is the guy doing? >> rainy morning and he looks up, i don't think so. yeah, they're working. he talks to his supervisor. you sure? yeah. like the cable guy. pictures of cable guys asleep in the home where, anyway. but before we talk jobs, we have a round-up, not for comcast, we have a round-up of the morning's other top stories. and the big one they've been talking about all morning long that isn't necessarily on economic terms. >> certainly gives you some lessons about an evolution in economic thought. we, of course, are talking about nelson mandela who the world is mourning today. the apartheid icon died yesterday at the age of 95. wo

as we get the adp jobs report.how this november jobs report might be. this adp private sector gauge is coming out in a few hours. firing at all in november. these numbers were really good. look at that gm, up 14% from a year ago. ford, 7%. chrysler, 16%. >> wow. >> you know incentive spending was the lowest since january. $202500 per average on vehicle. it wasn't a big deal. it's because people want to buy cars and they're feeling more confident. the strong showing powered by black friday promotions. people got in the showroom, traffic surged on black friday. overall cars sold at the brinkest pace in six years. the gm economists on a conference call with auto writers say that a stable jobs market. record stock market, we're going to see good sales into next year. >> you know what i was surprised about i was seeing commercials for black friday on vehicles. how weird is that? >> that was the big deal. april lot of people stayed away from the malls and went to the showrooms. we've got people holding on to their own cl

if you have the economy growing 3.6% and a good jobs number tomorrow, as many anticipate with the adp number and jobless claims today and a budget deal washington may hit as early as next week, why wouldn't the fed begin to cut back on buying bonds this month at their next meeting and week after next? >> i think they will. there is only really one reason that they wouldn't, and remember, what the fed is going to do is end the purchases of bonds. they will taper that. it will take awhile to do that, but they want to convince markets they will keep the short-term interest rate at zero for a long time. when you try to do both of those things, it's kind of a complicated process, but i think they are going to try to do it. as long as they believe they can do that, they will start soon with the tapering. everybody knows quantitative easing was put in during a crisis and we no longer have a crisis in the united states. so it's time to end this extraordinary monetary policy. >> brian, your upbeat on the economy, a lot of economists are. they are upbeat on the economy. >> right. >> but it seem

adp says it was a gain of 215,000 jobs in november. that was about 30,000 more than what was expected. adp also hiked its october number considerably higher. that bodes well for the jobs report that comes out on friday. if we see a conversation that we saw in october that could finally push the reserve into tapering its monthly bond purchases. it meets later this month. that's the been speculation that's been going on for months now. looking for better signs in the economy we are starting to see that happen. that's leading to selling on wall street. couple of companies that did well yesterday despite some selling were apple and tesla. tesla shares shot higher by 16% after german regulators cleared any manufacturing defects from those model s fires and apple shares went up about 2.5% on reports it's struck a deal with china mobile the biggest wireless carrier in china. the numbers are pulling back today. let's look at the big board. right now the dow is lower by 43 points. nasdaq is down by about 8. s&p falling by 6. and tesla shares ar

liz: precursor to the government's jobs number report, adp, came out yesterday.tter than expected, 218,000 jobs created what are you expecting from the labor department tomorrow? >> i will be a pessimist, 141, 50. last month was strong numbers. strong growth in retail employment. very strong growth, manufacturing construction. i think latter two were a mom lace. the -- anomalies. think people are doing earlier than normal hiring, christmas hiring. a lot of hiring that would normally take place in november took place in october. i think i ace weak story i think it will be 140, 150. which may surprise people on negative side. liz: thanks for telling the story with us. >> thanks for having me on. liz: david: smart guy. plays it right down the middle. why sales fail to accelerate in the crowded european market. liz: from gm to ford, will alan mulally stay at the automaker which he turned around and aimed at man or will he go with all the rumors to microsoft? wait until you hear how alan mullally phrased it outside the fox studios with the new mustang, our facebook qu

the adp report out yesterday shows 215,000 jobs were added to payrolls in november. better than the 160,000 expected by economists. it could bode well for the government's numbers out friday.. with the market predicting-- 185,000. it also means the fed could move closer to tapering its stimulus program. the dow and s&p fell for the 4th session in a row. the dow dropped 25, the nasdaq flatlined and the s&p dipped 2 points. gold fell $5 and oil inched up 2 cents. amc entertainment is offering moviegoers the chance to buy stock in its upcoming ipo. the theater stock is on track to price next week around $20 per share. bundle up for a brutal blast of artic cold. ice, snow and freeze temps are expected across most of the country. time now to say good morning to tood horwitz of average joe options. he's our man on the trading floor this morning. good morning todd. > >good morning angie. > >you're one of the doomiest gloomiest guys i know in the market today. it feels like the market wants to go lower, a lot of that having to do with jobs jitters. what do you think? > >i th

> >given the adp report, the gdp report, the initial claims earlier this week and yesterday i think expectations are for a strong number. so that's what the market's expecting. i think an expected number of 185 will be considered good. if it's a stronger number than expected, above 200, bonds sell off in this anticipation of tapering. but i think we're still along ways off of that. i also think we need to consider if it's a weaker than expected number i think that fears of any early tapering are off the table and maybe we'll be off to the races again in the equity markets will continue quantitative easing and stimulus in the market. > >what else could we see as far as market reaction today? > >i think what you're looking at here is coming into the end of the year people worried because of this fed tapering. but let's face it, even if the fed tapers they're still adding liquidity and keeping rates at zero. so i think what we're looking at here is a market that really is---maybe bends a little bit but i don't think is in any danger of breaking at this point. and i think there's still so much liqui

later this morning the adp's employment report will be out. in terms of stocks yesterday, all three major indices in negative territory. almost 100 points in the dow which is back below 16,000. it's the longest losing streak in two months. joining us now this is a treat, kayla. >> you have to say that. >> it is a treat when anyone from state side comes on our show. >> thank you, brian. well, our eyes turn again to washington because regulators are set to vote on a key portion of the dod-frank regulation next tuesday, december 10th. it's expected to be approved. the passing of the rule will mark an era of stricter oversight for wall street with a lot of restrictions on how banks could trade their own money. critics of the rule which is named for former fed chairman paul voluntarily beinger say it could he's the industry more susceptible to foreign competition and could damage the broader economy. and on the topic of the economy, the november jobs report is out friday. it will be closely watched. some are expecting the unemployment rate to drop

there are the adp numbers. this is a surprising numbers. a blip a little bit of in october. i think the beige book since is tenor and how widespread the recovery. they say modest, tomb moderate. most but not in our coming in at around 200,000. the market is already pricing .n >> thank you very much. >> the teams qualified for the 2014 world cup in brazil. the teams and fans wait to hear. , let'sand its warm up bring in jonathan ferro who's been shaking all morning. >> they just talk. all is a moment we have been waiting for. bookook your hotel, you your tickets. whether youruess team with the knockout stages. beauty of it, you look at some of the economy's out there. greece could put this to germany for once. these are what you want to see. >> you are partially english, partially italian. not a good or bad thing. there is a group of death, a group of joy. you can have holland, you can have brazil. it needs ant, it extra country. this is actually fascinating. for a lot of football fans, this is a big deal. >> we were talking earlier this week, they are at 10%. >> the first co

house and constructively and promptly sold the human price don't know where the director of the real adp country property after that their freedom the chinese government put more effort into implementing property taxes. he also said they would increase supply twin plot to control housing crisis. however don't recommend board until the pasta compared to what happened for me really wanted to know what the designers that about sixty thousand us dollars per month and a job there. that enter the bidding for job hunting and china kicked off recently and this new job there. a lot of people's attention and e commerce business with you for what the designer for the relatively obscure the high calorie about a hundred thousand in the kicking down the list for months. thousands of job seekers are now competing for the opposition the head of the business explained that because of the right professionals are scarce now they're willing to pay hike dollars to attract more talent the secretary of guangdong e commerce industry association. now they're about two hundred thousand kill people. sure you comme

adp and what happens? the market goes down. what is this? good news is bad news for the market?i mean, i guess you took the words out of my mouth, stewart. all the traders here and viewers were watching for a long time and they know that any kind of good news in the market and the economy is going to make the feds start tapering and going to drop the markets. s&p spikes above 1800 are about 15 points below and certainly a little of a selloff we're seeing now based on the good news. stuart: what happens if we get good jobs numbers for the rest of the week. more coming out tomorrow and friday. >> and a lot of selling going on behind me here on the open, stuart, and i think we'll see more of that come friday because i think that number will reflect the adp number and because of that we'll see more of a selloff. more good news, bad news and the s&p will break through support levels, i'll watch for that. stuart: what a pleasure to speak to larry levin this wednesday morning. check the big board, we're down 24, 25 points as we speak at 15-8. got it. wal-mart showing just what brick an

adp reporting u.s. businesses last month added the most jobs in the year. down a little more.ow jones industrial average falling as well. state kerry will present the outlines with palestinian leaders this week. the proposal will mark the first time that kerry's directly intervened in the talks since they began in late july. a wintry storm pushing through the rockies brought victory cold temperatures. it threatens crops as far south as california. the storm is blamed for at least six deaths. of the windchill was expected to drop to 30 degrees below zero in parts of montana while wind chills of -20 were reported the nebraska panhandle. in the denver area temperatures were expected to drop below zero over the next several days. online shopping went to a record on cyber monday. many consumers snubbed physical stores and took to the web to buy holiday gifts. internet retail sales rose to almost $2 billion. at that committed the heaviest web spending day ever for the fourth straight year. almost $24 billion has been spent on the web since november 1. that is an 8.4% gain from the s

perhaps most disturbing the report that a thousand adp accounts were compromised. paid managers use adp to manage employee paychecks the company notified affected users and reset passwords. facebook to enter yahoo and link then tell cnn the money they've done the same. google would not comment. how can you protect yourself? of state for anti virus software bridge toll click on suspicious links. change your password as they went from simple ones like 123456% in washington on shannon travis. hundreds of people will celebrate beneath the space needle in seattle. a party that was given the city's o-k. the free event begins at 4- 20 in a tent set up at seattle center. with any pot smoking out of public view. they'll have plenty of company too. with a holiday lights celebration, ballet performance and a pearl jam concert all happening at the center. coming up on the kron 4 morinng news. more on the freezing temperatures. we will be right back. to those who've waited... worried... poked and prodded... taken risks... and lived in a state of "what if?"... welcome to a new s

in the private sector added 201,500 jobs according to adp. up 25.4%, new home sales.orts climbing in october to a cord 1 billion. however, the economic news led the dow jones down in there something else at work here. here to explain it all to us is john lonski, chief economist for moody's capital. >> the best number since 1980 and new home sales. >> that is strange. >> in reality, new home sales in october trilled their average of 1983 through 1999 between 35 and 40%. so we don't want to overlook the fact that it is not hard to get spectacular gains when you are trying to grow something off of a base. lou: i love it when you get into these things. that is an absurd number. why doesn't someone just put a big asterisk on it. you haveto watch it and be careful. >> the market knows that. and it declined by about five tenths of a percent today it was deeper than the decline of the overall market. lou: everyone watching you right now wants to know what to make of this. where should they be putting their money? we are talking about almost $5 trillion in market appreciation

the strongest level of hiring a year according to the payroll processing firm, adp. than businesses with fewer 50 employees accounted for almost half these new jobs. hiring picked up in construction , manufacturing and the financial sector. to the serious warning now coming from the fda. fda says some different layers used to help someone who could be having a heart attack could fail to work area the device we are talking about is called the thesestart as far ask. are the same ones recalled last year, but the fda says some people might still have these models and you should not use the device until you replace it. if you are like me and haven't stopped overrating since thanksgiving, this smart bomb by microsoft just arrived. it is designed to detect stress and help women avoid emotional eating. researchers at the university of rochester it would sensors that trace a woman's move me -- woman's mood and it performs something like an ekg. that a that goes to your smart phone to keep you from emotional eating. >> you have been emotionally eating since valentine's day. >>

the survey from adp reignited market concerns and federal reserve may start winding down sooner than expected. we have had a bit of a turn around. the most important gauge of the job market comes on friday when the government releases the november employment report. more good news. new single family home sales surged 25.4% in october to an annual rate of 444,000 according to the commerce department, a rebound from a 6.6% decline in september. interest rates fell in the fall after rising during the summer. finally after spending more than years in jail, tyco chief executive will be getting out of jail. once dubbed the poster boy for corporate greed, he was kwkded for stealing more than $100 million. his spending included a $2 million birthday party in 2001 for his then wife and who could forget the 6,000 dollar shower curtain. the executive will be released in january. >> thank you so much. we are celebrating the holidays here today talking about authentic italian food to a world of different foods. the chef joins us for a dish that would make your holiday dinner a lot better. and wha

the adp national employment report showed the private sector added 215,000 jobs in november, and that was more than expected. close attention will be paid to the november report, which is due out on friday. >>> it's cold out there right now. check out napa at 24 degrees. i've got a forecast for napa in the area around santa rosa, for overnight lows into the teens. napa could easily get down to 19 degrees tonight. even cooler. walnut creek, 26 degrees. right now, temperatures below freezing. the freeze warning in effect for everybody until 9:00 a.m. tomorrow except san francisco. interestingly enough, we still have light winds out there. these winds, when they die down, it's going to get colder. we're looking for records tomorrow. napa tomorrow could easily crush its record set in 1972. the records of 1972. livermore, 24. that breaks a record. oakland could break a record. san francisco could break a record. it is going to be one cold morning tomorrow morning. then on top of that, the next weather system coming in. the latest computer model to time out rain, even snow in your area. >>>

over the past two months the payroll firm adp reported $2,000 had been created in november. and the government will use the case against jp morgan chase as a template to go after more banks for mortgage fraud. the justice department hopes to file charges against several institutions last year. yp morgan agreed to pay $18 billion because of securities. >>> big tobacco companies are making a major marketing push to capture the growing multi billion dollar e cigarette business but it has some worried. >> reporter: for more than a decade john smoked a pack a day. he tried to quick but the habit was too son strong. he switc switched electronic cigarettes. he said the change in his physical well-being was dramat dramatic. >> food tastes better and incidental walk a mile under 20 minutes. >> reporter: it's vapor that he's inhaling, not oh smoke, the carcinogens are reduced to almost none. >> it's not the nick tin. it's the burning. so e cigarettes take away the burning and many of the harmful chemicals. >> the benefits have boosted profits. by the end of the year it could triple fr

the adp national employment report showed the private sector added 215,000 jobs in november, and that was more than expected. close attention will be paid to the november report, which is due out on friday. >>> it's cold out there right now. check out napa at 24 degrees. i've got a forecast for napa in the area around santa rosa, for overnight lows into the teens. napa could easily get down to 19 degrees tonight. even cooler. walnut creek, 26 degrees. right now, temperatures below freezing. the freeze warning in effect for everybody until 9:00 a.m. tomorrow except san francisco. interestingly enough, we still have light winds out there. these winds, when they die down, it's going to get colder. we're looking for records tomorrow. napa tomorrow could easily crush its record set in 1972. the records of 1972. livermore, 24. that breaks a record. oakland could break a record. san francisco could break a record. it is going to be one cold morning tomorrow morning. then on top of that, the next weather system coming in. the latest computer model to time out rain, even snow in your area. >>>

a quick search on google for a password manager, and remember, while we know it's facebook, gmail, adp payroll credentials, these campaigns are very common, and labs we're seeing 250,000 new paces of mall wear every day and most of those include functionality like this campaign. so everyone listening to this show should not assume that they're safe because they're not in this particular breach, should get a password manager, secure credentials and change them frequently. >> james, a director of technology strategy. >>> one other thing you can do for things like your bank consider the or gmail, there are often two steps, password setups you can do if you want so you have your password and then you have to get a code sent to your cell phone or something. so it's a two-step thing. anybody trying to access your account, even if they have your password, you would be notified and can stop it. lots of ways to protect yourself. >> federal prosecutors are accusing more than four dozen russian diplomats and their spouses of committing massive medicaid fraud. costing taxpayers here $1.5 million o

first, we got numbers from adp, the national payroll processor, showing improvement. why do we care about the number? because it comes two days before the most important economic number we get. the nonfarm payroll report, and many people think it's a precursor to the real deal. i think it's often inconsistent and totally contradictory, however, nobody seems to care about it other than me. and today they immediately sold bonds. then the housing numbers this morning, here's what they did. blew me away. despite a major multi-week decline, mortgage was up 3%. the market is playing catch-up, but wait a second, we have got permanent numbers and that was up 6%. let me put that in context. a 6% increase in building permits for housing equates to a building of more than 1 million homes. you know it's been six years since we have seen those kinds of numbers. then at 2:00 p.m., the numbers show the banks are increasingly willing to lend. that means we have the possibility of more businesses being started and more expansion occurring. that's good for the country. which as we know

we should tell you adp came out with a report adding 215,000 jobs in november which is a good sign ande are expecting the labor department to issue its november job growth report on friday so that is a good advance for it to see where we are heading. good morning. thanks for joining us here on the ktvu channel 2 morning news. it is wednesday, december 4th i'm claudine wong. >> and i'm dave clark. time is almost 6:31. let's check weather and traffic. steve, it is just plain cold. >> for most that is true. west portal is 39. i can't see a temp from cole valley. gilroy 27. near concord also 27. i know graden is 25. there is a bunch. danville 2. pleasant hill 29. pacifica, half-moon bay 32. its cold. 27 walnut creek. there is a pretty good breeze parts of fairfield, brentwood, antioch. they are in the 40s. other locations in the 20s. any breeze that is held up a little bit a lot of 40s here. even 30s toward san jose. upper 20s and low 30s. wood side is 28 degrees. freeze warning to the north. tonight everyone gets in on the freeze warning. we will see that breeze tail off a little bit. i t

that's according to an adp estimate and well above expectatio expectations.fed

the jobs data, private number from adp, a stronger number. fridays could be stronger.arter but it's coming and that's what the bond market is telling you today. >> what are you going to do with this market? >> we think any setback is an opportunity to buy. >> you're going with the dip? >> we're going with economic strength. >> even if they start to taper, the feeling is, once they start thinking about tapering, it's all over. >> we think tapering will be coupled with forward guidance. we think that's a very good policy for the fed to pursue. steepen the yield curve. pushing money out into the friday. >> thank you. that will do it for the first hour here. looks like we'll finish negative except for the nasdaq, although that's very close right now. we'll keep an eye on that. second hour of the "closing bell" with kelly evans and an all-star panel of market experts. i'll see you tomorrow. >> welcome to the "closing bell." i'm kelly evans. the dow down 120 points, came back but fell short of finishing in the green. here's a quick look of how we're finishing the day on wall

the adp private jobs boomed. 215,000. the trade deficit narrowed. new home sales were gangbusters.ces, little soft but still pretty good in the mid 50s. the fed beige book, pretty darn good. i'm not counting today's little -- this little three or four day thing, it's not a real question. why isn't good news good news? you look at these numbers and you could say to yourself, the economy is getting better. >> yeah, i think that in the end will be good news for the market, larry. in the meantime i think the market's saying, okay, if the news is good, maybe the fed tapers sooner rather than later. i'm not sure i like that so much. that's one explanation. i think another is, hey wait a minute, we're up a double digit percentage. we're up a lot in a short amount of time. we're discounting some good news. i'm tired. i'm going to take a rest. i think that's a bit what's going on here. >> protect your gains, that's what you're saying. >> here here. >> let me ask you this. okay. so you're janet yellen. you're going to be janet yellen tonight. you're coming in. i know she's not going to run t

that's according to an adp estimate and well above expectatio expectations. good news in the real economy could make the fed take off the training wheels. signs of recovery could pressure the federal reserve to start pulling back its $85 billion monthly stimulus program. the fed just released its beige book. it shows modest to moderate growth. finally, there are some concerns that holiday retail spending is off to a slow start. mean while, president obama turned from health care to the economy offering what the white house billed as a major address on american unequality. some are calling it a early preview of the state of the union and the upcoming initiatives to help the middle class. >> while we don't promise equal outcomes we strive to driver equal opportunities. a grandson, a son, a father, as an american, is to make sure that every striving hard working optimistic kid in mark has the same incredible chance this country gave me. over the course of the next year and rest of my presidency, that's where you should expect my administration to focus all of ou