that's risen with the adp number.er likely to come in higher than originally forecast. just before we came on air we got a goldman sachs report and this are raising the forecast from 200,000 to around 175,000 it appears, they are adding 25,000 to the-out look for friday. here's why. the number is 238,000 and we've been looking for 200 on this number today. this is the private sector they are forecasting. november revised up by 14,000 to 229. the goods coming in good, 69,000. services very serviceable at 170 and there's the nonfarm payroll the 191 that i suspect will be higher and probably already is higher in the minds of the market. here are the highlights and simon kind of alluded to it. the three-month average fork adp 224,000 and small business adding 108,000 and the construction sector which some feared could be hurt -- might have been hurt by the weather in december, the colder weather, coming in with its strongest number since 2006 at 48,000. here's what economist mark zandi whose moodys.com calculates the numb

what do you think adp is going to tell us?ou think is going to happen on friday with that jobs number? >> well, ross, i think the line of demarcation, not just this month, but i think more importantly throughout the year is going to be that 200,000 number. people and investors in particular are going to look for that number. any month we get above that, they're going to view it at an improving healthy labor market. any number below 200,000 i think investors are going to wonder, hoe, no, are we hitting another job batch? so i think, you know, more for psychological reasons, i think the 200,000 number is really going to be important as we go through 2014. >> yeah. and that -- how do you think growth is going to pan out? evidence of car sales, the service sector, ism, more than we might have saw on activity numbers? >> well, look, i think, you know, each year the economy gets a little bit better than it was the year before. but, you know, it's not off the charts. i mean, it's still a slow growth u.s. economy. i think 2014 is goin

we're expecting breaking news from adp. gives us insight into what to expect friday. steve liesman is here with the be ins. >> 238,000 for the month of december. that's the adp's estimate of where the private sector, what private sector growth will be as reported. that's a big number. and it's a big number for a couple reasons. the prior month, november, revised up to 229. goods up, services strong, 170. and the nonpharf payroll estimate is 191. that may have to come up. construction was up a really strong 48,000. if i read the press release correctly, it's the biggest gain since 2006. so that kind of is undermining this weather story we've been talking about with payrolls that maybe it's undermined by colder weather in december. it's hard to say that when the construction sector did so well. another reason we want to pay a little more attention to is government hiring has not been down, so we've been taking this 238. 20, 30, give me your number. we never knew how much. it looks like we have stabilization in government hiri

in a report coming out every month the payroll company adp reported that the private sector in the united states added $238,000 net new jobs in december, the most in more than a year, and more than most economists expected. now, small businesses led the charge, adding 108,000 position, the biggest increase since early 2012, the adp number prompted wall street economists to raise estimates for the government's tally of employment growth for december, including all government and private sector jobs, except those in agriculture. economists had been predicting under 200,000 jobs were created in december. back on december 18th, if you recall, after the federal reserve's last meeting i told you that the rebound convinced the central bank to start pulling back on the bond-buying program. in the minutes released from the meeting, the fed said: >> well, but the minutes made clear that the pace of future tapering is not set in stone and will depend on the job markets continued recovery. that is a cause for concern for some fed members. uncertainty about the economy's strength is a reason they made

we are moments away from the release of the private payroll reports, better known as adp.hese are the guys who generate about 20% of the paychecks in this country, so it is a pretty good read. >> about as good as you can get in terms of a preview. member, private sector jobs does not include government sector jobs. >> and i want to bring in mark crumpton right now. what is the word? -- 230number is 200,000 8000 private sector jobs. that is a pretty good gauge of where things are going right now. the estimate was for 200,000. the last number was 215,000. added private employers 238,000 jobs in december. >> this is a good number. >> there was some concern after the services industry report that maybe there was a little bit of a pause during the month. this may give us some hope that, no, hiring continued. we get the jobs report on friday. todayre was a note out saying that the correlation between adp and non-foreign payrolls in the past month was almost one for one. that is huge. that is a238,000, monster number. >> we hope that is sustainable and non-seasonality. hiring in

> > i expect, you know, you look at the adp as a precursor to the nonfarm and the adp beat was pretty decent so i expect the same. i expect a beat on non-farm. as far as in relation to the market we'll see how that really translates. we press lower off the adp news and that forms c minutes. so we'll see if that's the same type of reaction. it's been a mixed bag as of late. reaction has been, frankly, bouncing back and forth so we'll see how the market will react off of the news early on. > > well the market was definitely reacting to news from el quoa's earnings after the close last night. that stock selling off after an earnings miss. will that be a predictor of what happens in trading today? > > it really could be. it wasn't- it was a mixed bag as far as earnings went. they missed on the eps by a few cents but they beat on revenue, and it's really going to be determined on how their forecast is going to be. i believe it's expected around 7% growth. they did warn early on in 2013 that over the next 10 years they see a global slowdown for aluminum demand, but that's changed recently.

adp numbers were good, yet the market never really responded. i would note financial stocks continuing to rally. health care is also a big winner. they are the two winners so far this year. take a look at what's moving here. i think the important thing here right now is earnings. micron, great numbers. sue mentioned constellation. great beer sales from them. they raised their 2014 eps guidance. that's the winner here. we're waiting for more positive commentary. this is the first one. monsanto also better than expected. the real problem we're having is china is off to a rocky start. it's really hurting the commodity name so steel stocks, for example, there's the xme which is energy stocks, the xop, that's oil stocks, and steel stocks, slx, they have all had a rough start to the year overall. finally, a lot of downgrades as people adjust for valuation. some food names were downgraded by deutsch bank. we got an upgrade of hershey's and kraft food got an upgrade. it's had its own problem because there apparently is a shortage of velveeta out there.

i like using the adp number. it correlates well. let me go back to this.e will have a lower trade deficit, lot of it's because of the american energy boom, the great american energy boom. we don't have to import energy. we will wind up exporting energy. that's good. the federal reserve becomes less and less easy and we are at the beginning of what i think is going to be a three, four, five year tightening cycle. the dollar will respond by going up, with the lower trade deficit and the fed's change in policy. that's the strong dollar. now, that holds down inflation. that's why king dollar is so valuable. that holds down oil prices. that holds down all manner of commodity prices, which is good for consumers and most companies. so it makes sense. the question is when does it materialize. >> well, you're exactly right, larry. the adp number, you know, in previous session levels we were here, we had a big drop and are slowly working our way back to new highs. at the pace we're going, we will hit a new high in adp private payrolls in may, then we'll see a new hi

we had 238 out of adp. it was bad. >> the unemployment rate was good. >> do you buy it?good number. >> sears has its own problems but in an economy where you have a shorter holiday season and this year's numbers are so bad, you can see what is happening there. whenad some weather but people are not making money, you have a retailer that depends on a big december to save themselves. >> 2.4 million people in november actually quit your on your. that was up 15%. the idea being if you quit your job you know you will be moving to a better job. some recoverysee there. >> it is a healthy sign if you have more people quitting. i do not think a lot of people want to be unemployed in december. that is not a good month. >> there's a difference in being unemployed and leaving your job and deciding when to start a new one. >> moving onto the roundup. >> let's do that. >> who has the first story? >> it was the news of the day. aside from the job data. nominating stanley fischer to be the fed vice chairman to replace janet yellen. this has been rumored a few months ago. we had al hunt

if you look at adp for the full year it was 2 million, 154 jobs added. >>so we're clearly going to see some kind of significant revision. in fact, the numbers that we get for january could be much higher. >>i think so. i've talked about ism on this show over and over again. if you look at those 2 employment indexes in the month of december, they both were above 55. in fact, if you combine them they were 56. in past periods, when you've had that type of optimism in the manufacturing sector, you've had 240 thousand average job growth. so, it's not consistent. it's not the same all the time but on average it's about 240 so it should be revised higher. >>let's assume you're right. what about growth for 2014? any sense about that? >>i actually think growth is getting better. ive been pretty optimistic for the last 6 or 7 months and we've seen some better growth numbers. everything that i'm looking at right now continues to point to the fact that you could get growth on 3% numbers in 2014 and if you actually had things go right you could probably get to 4%, so

adp. three month average, 324,000, just the private sector, and the government sector not taking away jobs. both employment indicators are up in december for the supply management reports. service and manufacturing. small business, nfib, reporting best jobs numbers since 2006. of course, gdp is significant suggesting improved job growth, up 3.5% in the second half of the year. finally, challenger coming in with the lowest job cut totals for 2013 since 1997. john challenger, this morning on "squawk box" putting that number into context. >> we haven't seen a cut this low since like you'd said at the beginning. back in the late '90s, before the dotcom crash. layoffs were very low. economy rolling. think than. that's a 97 number. >> tyler, 30,000 in the month of december. there we go. three-month average of adp versus the bls or government report, steadily on the way up. we try to dwluz three-month average to get rid of the month-to-month noise. finally, forecast for tomorrow. 200,000 jobs up

this adp number prompted several wall street economists to raise their estimated tally for december. this included all government and private sector jobs except agriculture, and they come out on friday morning. the economists were predicting that 200,000 jobs were created in december. back after the federal reserves last meeting, it convinced the federal bank to pull back on bond buying program:me >> that's a cause for concern for some fed members. uncertainty is one reason why the fed made it clear that it would keep interest rates near zero, at least the ones that it controls, near zero. it has climbed 3% since october. this ten-year rate is what sets the level for 30-year fixed mortgages, credit cards and student loans. and this increase tells that you investors and traders are depending on the stimulus program. let's not lose sight of the 11 million americans who are looking for work or will be soon. late today we learned that macy's is laying off 2100 workers in restructuring aimed to save the retailer. the recovery from two globally recognized economists. it turns out in their

just two days ahead of a labor department's december jobs report, the payroll firm adp said a far better than expected 238,000 private sector jobs were added in the month of december, the most in 13 months. nearly 11 million americans, though, remain out of work. but the hopeful moves in the labor market were not lost on the federal reserve. and minutes from the central bank's latest meetings show that part of the reason the fed decideded to start tapering its stimulus program is the improving employment picture. steve liesman has more. >> the minutes of the federal reserves december meeting showing a majority of policymakers favor a measured cautious approach to reducing the stimulus program known as quantitative easing. the fed reduced the amount of bond purchases by $10 billion to $75 billion a month. the impression left by the minutes there were strong views on both sides. but the compromise position is for $10 billion reductions along with a stronger promise to keep interest rates low in the future. several workers concerned about the high unemployment rate and low inflation, that g

adp, the best number in years. down 32 weeks in december and weekly jobless claims fell more than expected. at the same time, the outlook is dimming in the u.s. senate as negotiations to extend the employment benefits for americans fell apart thursday. democrats and republicans seem to be at odds over how long to extend the benefits. the gop is angry at senate majority leader harry reid who is preventing them from attaching amendments to the bill. so on the agenda, despite the jobs report, we get wholesale trade figures at 10:00 eastern. u.s. futures right now are pointing to an upward move at the start. although, of course, it's all about jobs. joining us is todd horwitz. pat o'keefe is still with us, as well. todd, what do you think is going to happen? how are we going to trade through the numbers today? >> good morning, ross. i think the number is going to be very positive. i think it will be well north of 200,000. however, that number itself is very artificial because it only -- the u3 only counts the last 27 w

yesterday's adp report was pretty interesting.the reasons why we think adp is more of a leading indicator is because the data, as they break it out, they give you jobs from small sized companies, medium sized companies and large companies. they do a good job of capturing large companies. they don't do a very good job on the small size. yesterday's number, 100,000 of those the 238,000 jobs came from small companies. that means that the bcs will capture that in a month or two. that would suggest fous that this job trend is likely to continue into the spring. >> wow. >> if that happens, then i mean, as we were saying, if we were going to get better employment growth, that is really, then, i think validates the expectations that people have, many people have that the economy can do better in 14 than we've seen in recent years. >> i was reading something this morning that suggested that because the economy is improving, that's going to push interest rates higher and that in turn is going to hold back economic growth. it's like this cra

. >> look closely at your paycheck, it comes from a company called adp, it's a processing firm, handlesroll companies, including ours. adp says, in the past month, it's had to process more than 230,000 more paychecks from the month previous. that's a goo%lgndication of how many jobs added to the economy. we get the real number friday. the preview is encouraging. >>> marissa mayer had her first keynote last night. everything went well. she spoke before a massive crowd in las vegas where she introduced new employees, katie couric and david pogue of "the new york times." two people who will help mayer turn yahoo! from a second place certain site to media centric site. the show is famous for major announcements and sometimes relatively minor announcements. last year the fork, which we told you about, it tells you you're eating too quickly, buzzes, one of the most covered new technologies. ces kind of reminds me of the fashion shows where designs show off the latest creations and everybody says, i think big white hats are going to be the thing this year and then nobody ever wears big white h

adp has reworked its numbers in october 2012.o the bias there may not be as big as it had been in earlier years. but we still expect a little bit off the payroll number. >> didn't you say they worked in a taper the last time you were on? >> didn't think they would taper in december. >> didn't trust the economic back then. you didn't call the taper saying they were going to be weak? >> i have to admit -- >> how do you miss that when we told you they were going to taper? >> it was a -- >> it was a done deal. >> believe me, you don't want to be one of the sheep in that survey. liesman fold you they were going to taper. >> we are expecting them to finish up the program probably sometimes in the last quarter of this year. it's probably a little bit ahead of what the market expects. >> why are you futures higher this morning? is that because it expects the numbers to maybe come in better than 300,000? >> not necessarily. i think what the market is saying that even if we get 190 or there above the operating environment is clearly gettin

adp jobs number 238,000 jobs created in the private sector last month. that was the biggest number in all of 2013. that was positive. the ten-year auction, we're going to talk about it in a little bit and the fed minutes. >> and we're still di justinggesting the news from yesterday, the smaller trade gap boosting fourth quarter gdp. also up today, a lineup of heavy hitters on "the closing bell." we have exclusive interviews with paul jacobs rob sands. >> have you seen what constellation stock is doing today? >> jumping. >> and we have commerce secretary penny prits zer and john legere. we will get get the real story. he was escorted out of an at&t story. >> he says he was there to see the musical act. he loves macklemore. sure he does. microsoft taking a hit today. allen mullally is taking himself out of the running to fill the ceo role at microsoft. microsoft announcing it will now be february at the earliest when they announce who is going to be the new ceo. who are the likely candidates and who is wall street rooting for? we have an in depth look at t

adp reports the largest increase in 13 months.umbers will provide -- would go higher by 14,000. the unemployment rates rose in november 67 .7% as the worst rates and remainder over 12 percent.cer mbition. open to boldids. that's why n york has a new plan -- dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor causing bacteria and helps dissolve stains. that's why i recommend polident. [ male announcer ] caner, fresher, brighter every day. connell: dacron "markets now" with the medals on the move. dagen: we have the latest scam accuse see all lots of red arrows let's set those up as we await the and it's we're expected to hear what the fed was thinking of the last meeting with the discarded

we have adp that will come out at 8:00 a.m. and then thursday, jobs report.berg radio, bloomberg television, 8:30 a.m. friday morning. the interpretation of american labor leacock -- labor lead time he. -- american labor economy. >> whose new year's resolution was to lose weight? [laughter] quick see a looking at me. >> he is blowing it with velveeta. >> did you call the shortage? ok. bagels, the stores around the country, they are coming out with a smart choices menu that is basically creating bagels that are less in calories. .hey are trying to help people >> as a native new yorker, i would love to hear that. be talking going to about that. also, thinking about housing and whether there is a bubble brewing in new york city with tom shapiro, with a private equity firm that invests billions in real estate. time for morning movers. cristina alesci gets us started. >> microsoft taking a little bit of a hit because they can't find a ceo. taking a bit longer than investors would like, may be spurring some uncertainty internally and maybe some distractions. talkin

adp a role data over the last 10 years, look at how closely stocks follow the jobs.ook at companies in the s&p 500 that are hiring the most. believe it or not, there are only about 10 that are hiring at 10%. visa -- whatron, am i trying to say? again, they are all growing. americans going back to work, good for america, good for jobs. good for the economy and stocks, trish. he are going to take a very quick break and we will be right back with more "street smart." ♪ >> the consumer electronic show, also called ces, is a place where the worlds greatest products have been introduced. it has had its share of memorable moments. here are a couple that stand out for us. ♪ slideshow,ck on the you can get an idea of what i am up to here. >> ok, all right. right now nine people are being fired. [laughter] >> great moments at ces. another great moment, coming up? , from bostonn properties. we will be right back. ♪ >> friday will be the first jobs report of the new year. analysts surveyed by bloomberg expect things to hold steady. our next guest says that improvement in job gro

the adp number was pretty darn strong.hteak was also fairly but futures indicated a little higher in the last 24 hours. >> manus, thank you very much indeed. you are called, you can wear your $300 footie. when you will pay $300 for a hoodie? a parent entrepreneurs is that in you will. -- youl hear from this would hear from them this hour. >> as we head into break, this is what we will be showing you. not only hoodies, we are also talking central banks. ♪ >> welcome back to "the pulse" live from bloomberg's european headquarters. i wanted to stress the live. we are live. >> and a life. i am guy johnson. these are the bloomberg top headlines. >> christmas has failed to deliver for some of riddance -- britain's favorite supermarkets. all poor reported reduced holiday sales. consumers cut back spending on everything from food to clothing. there are reports that at least five people have been killed in a chemical plant blast in japan. the blast happened at a mitsubishi materials plant. local police say at least 16 people were h

adp is better than a coin toss.es and i've looked stupid a few times, but i'll put my number with adp. >> right now the dow is up 21 points, the market's been flip-flopping all year and psychological it's hard to figure out where we are. but what are you looking at tomorrow and where do you think we go from there? >> well, i think the key to all this is that really everything that's happened since the fomc meeting at least in terms of the treasury market is all we really did was pull that first rate hike forward from june of 2015 to march of '15 but where the market continues to be vulnerable the pace of rate hikes once it actually gets started. the market is in essence pricing in 1% per year from 2015 through 2018. that would be an incredibly massive rate of removal of policy accommodation to use greenspan-speak and that's why we think the market's vulnerable around the five-year note. and you could get much tighter financial conditions. so, were we to get a joe type of number tomorrow, then that part of the market

on friday, but we get this report every month just a few days before the government jobs report from adp says that private employers hired staff at the fastest pace in some time. and showed solid gains in higher-paying jobs, construction workers hired the most since 2006. mark zandy says we're now going to start to see an economic recovery more typical of the economic recoveries that we have seen historically. worth noting that the national federation of independent businesses came out with a report and said that 1345u8 businesses hied the most workers in nearly eight years in december. so usually we see this report as a harbinger to the big jobs report. so this is good news. >> what are we expecting for friday's report? >> the difference between this report and friday's report is this is about private sector hiring, the government report is all hiring. everything that is not agriculture, basically. analysts and economists were looking to at 106,000 new jobs added in this december, but because of this adp report, some of are revising their estimates a little bit higher. so we're probably

the adp private jobs surveyed when jobless claims have showed signs of growth.llar is a key indicator and the buck is on an impressive run so far this year. and then we had an optimistic janet yellen saying she shes we can get 3% or so growth this year. that would be an improvement. here now with their economic improvements, we welcome back steve stanley and john rutledge. gentlemen, thank you very much. steve stanley, 200,000 tomorrow. i'm going to venture if that number is right, i'm going to get your take on t. it's going to push the fed to cut back on their bond purchases faster and greater. >> well, my number is pretty close to that. i don't have any qualm with the consensus forecast. i think the taper pace is probably more or less set in stone. they are going to go with steady, small clips and probably be done, in my view, by the end of the year. i'm not sure at this point that a m it makes a huge difference to the fed. >> if you read the fed minutes that came out yesterday and sort of the commentary, some of these fed governors are worried about bubbles.

adp yesterday was the best in 13 months. we had a higher yield, as well, and a ten-year auction and we've seen two-year bills up to a four-month high, as well. keep our eyes on gilt yields. 2.98%. ten-year bund yield, 1.9%. on the currency markets, the dollar index has been up at a seven-week high today. euro/dollar yesterday hit a one-month low. we're back to this 1.36 mark. we've been over here hovering around 105 for the dollar/yen. aussie back down to 0.8877. and sterling, just above 1.64, as well. now, that's here in europe. price pressure meanwhile in china eased in december. consumer inflation grew 2.5% last month. that's down from the previous month, 3%. cpi for 2013 at 2.6%, which is well below the government's target of 3.5%, leaving room for the government to push ahead with reforms without worrying about run away prices. but in a sign of persistent weak demand, prices at the factory level eases down for a 22nd straight month, down 1.4%. how has all of that fed into asian asset prices? li sixuan has the data out o

we get the adp number, a private payrolls report.employment numbers on friday. 000 jobs. to add 200, one stock that we are most focused on here throughout the hour, a huge retailer in the u.k. --t record trailer on record best record trading on record. higher, a dollar proclivity to take risk. just coming off the dollar -- the dollar coming off a five-year high. >> thank you very much. manus cranny on the markets. before break, today's pulse number. 30. ist is how old kim jong-un as of today. that makes him the youngest head of state in the world. three years younger than the next in line, the youthful ruler of bhutan, 33 years old. dennis rodman and a team of ex nba players will take part in a basketball game in the country. paddy power was the sponsor of this before it got cold feet. was this campaign a failure or was it a success? talking about that story from a business perspective when we come back. ♪ >> welcome that, you're watching "the pulse." company news. yahoo!'s marissa mayer has unveiled her plan to revive sales. she is

it's also out of sync with pretty much everything we've been hearing, including the adp unemployment out yesterday which showed 238,000 jobs created last month. throw away the number, do something to make it look better. or maybe the survey wasn't accurate at all. my view, i don't care. these numbers do matter because the bond market said they do and interest rates pulled back pretty dramatically today with a yield on the ten-year treasury falling from 3% down to 2.86%. the jobs number wasn't pertinent. believe me, you wouldn't have a big decline in interest rates levels not seen for a month. more important, this number matters tremendously in the stock market, my word for get rich carefully, i spend a tremendous amount of time of analyzing the impact on the market versus other indicators. and i have to tell you that you can throw out every other data point, retail sales, durable goods, housing. the only stat with lasting impact is the labor department. it's the job creation number that matters, no the the household survey which is heavily skewed by people who drop out of the labor m

the adp data not moving the futures much. folks priced that in. also getting some data in a few minutes on consumer credit. the minutes from last month's fed meeting this afternoon, more insight on the fed's decision to cut back on its stimulus efforts. dow starts the day at 16530, after rising 105 points. nasdaq at 4153 after adding 39. >>> sometimes feel like your friends are more family than blood relatives? now you can add them to a framily plan at sprint. a plan for friends and family, up to ten people can get big discounts on service, if they sign up as a group. each person gets the bill separately. the plan could cost as little $25 a person. but if someone leaves the group, costs go up for everyone else. make sure you're going to stay friends, at least through the life of the contract. scott? >> bertha coombs, interesting, thank you. 5:17. 5:18 now. >>> president obama will meet with members of the intelligence community and advisory panel to discuss reforming the nsa. the president's going to bring series of recommendations to congress thi

it's also out of sync with pretty much everything we've been hearing, including the adp unemploymentort which came out yesterday which showed 238,000 jobs created last month. throw away the number, do something to make it look better. or maybe the survey wasn't accurate at all. my view, i don't care. these numbers do matter because the bond market said they do and interest rates pulled back pretty dramatically today with a yield on the ten-year treasury falling from 3% down to 2.86%. the jobs number wasn't pertinent. believe me, you wouldn't have a big decline in interest rates levels not seen for a month. more important, this number matters tremendously in the stock market, my word for get rich carefully, i spend a tremendous amount of time of analyzing the impact on the market versus other indicators. and i have to tell you that you can throw out every other data point, retail sales, durable goods, housing. doesn't matter. the only stat with lasting impact is the labor department. monthly payroll report like we got this morning. it's the job creation number that matters, not the ho

investors reacting to better than expected data from adp on job growth for december. we're going to look ahead to tomorrow's jobs report. we also had the minutes from last month's federal reserve meeting which showed officials decided to cut back on sometime you loss program because they didn't think they were as effective as they once were. today we're going to get in about 15 minutes weekly unemployment claims and tomorrow is the big jobs report that we'll focus on. the nasdaq will be at 4165 after gaining 12. scott. >> thank you much. apple and samsung trying to avoid going back to court. the two companies reportedly in negotiations trying to avoid this chalk drawing scene. you remember this case in san jose federal court. it dealt with samsung copying apple in some of its older cell phones. the next court case t one the two sides are trying to avoid, involve samsung's galaxy 3 phone allegedly copying apple's iphone f. they can stay out of court they may be able to settle this amicably or at least between as far as apple and samsung goes. last time it dragged out a

you'll recall yesterday adp said it saw more than 230,000 jobs added to the private sector.now that sneak peek is just private sector. that's not the big question. it's government jobs. will we add government jobs tomorrow or subtract them. remember government's generally continue to cut jobs. yelp celebrating this morning, it's stock hit another all-time high. there you see the founders back in 2012 as they offered shares for the first time. twitter continues to sink, it's a tale of two stocks. back to you. >>> one of the largest auto shows in the bay area shifts into high gear today. the international auto show kicks off this morning in san jose. there you can check out hundreds of the latest and greatest models from muscle cars to plug ins and take a test drive if you would like to do that. there is a new mercedes, terry. >> i know, i'm saving up. >> front seats have a massager, and the price tag is $120,000. i don't need the fragrance thing, but the rest sounds good. >> no more vacations, you can just go sit in your driveway. >> some of the cool gadgets they have now. le

the private sector in the united states added 238,000 jobs in december according to the report from adp this is fueling hopes that american unemployment will head lower as we get the official data on friday. that is not doing a lot of wonders for the american stock markets. they are mixed this session. the dow jones industrial average 0.5%.n about in europe, the indices closed below the flat line. we got higher-than-expected retail sales in november. but it failed to bring a boost to stocks. it didn't fall by much, just marginally. shares in tobacco companies weighed on the ftse of london, just as china signals it may be and smoking in public places -- it may ban smoking in public places. it is the world's largest tobacco consumer. that is why the tobacco shares came under pressure in london. we will head off to bangladesh next. the opposition there is crying foul after the ruling party won sunday's national election. there was unrest in the lead up to the poll. the textile industry says it is paying the price. >> bangladesh's garment industry is almost -- is second only to china's, tho

. >>> payroll firm adp reporting 238,000 private sector jobs created in december.t's the best reading in 13 months. november figures also revised upwards. the report is a prelude to the closely watched jobs report. >>> in less than two hours we'll learn more about why the federal reserve decided to pull back on their stimulus program. policy makers surprising the financial world in december. central bank is set to release the minutes of that meeting this afternoon. >>> butter is back. the american butter institute saying consumption hitting a 40-year high in 2012. 25% more than just ten years ago, butter's bounce comes as consumers turn to natural foods. >>> for many the american treatment is dream is out of reach. washington now trying to close the gaps between the haves and the have nothings. >> reporter: this is the america u.s. politicians like to talk about, one of upward mobility, promise and wealth. >> the wealthiest nation onneth. >> but 50 years ago president lyndon johnson had a different perspective when he declared a war on poverty. >> we shall not rest

the ism manufacturing, adp, factory orders, construction spending.e, those worse than expected, ism and the jobs report to this one today as well. what i like what is going on in the market today it's very fundamental based and we're talking about jobs and the consumer and retail. take a look at some of these names that are actually outperforming this morning. abercrombie & fitch a surprise, while their comps sales were down they actually revised their outlook up, that was a nice surprise to the market and the shares moving at two-month highs this morning. gap, comps okay but reaffirming guidance and saying they comfortably believe they'll be coming in at the higher end of the range that was good. and tiffany, comp store sales up around the world and also reaffirming their outlook but then you got the bad and there's a lot of them so i'll hit on a couple of them. five stores not so great, preannouncing very disappointing holiday sales, deutsche bank is maintaining their bullish stance and sears is losing money hand over fist. i don't know what's goin

data from adp on consumer credit and minutes from last month's fed meeting, when the central bank decided to cut back on stimulus efforts. >>> dow start as 16,530. nasdaq 4153. ford ceo puts speculation to rest, saying thanks, but no thanks, he'll not be taking the top job at microsoft and will stay at ford through this year. he had been rumored to be the lead candidate to replace steve ballmer who is retiring this year. big investors in microsoft had been courting him. microsoft reportedly has narrowed its list to a handful of people. >>> if you get i hankering for pizza on your way home, stuck in traffic, wish you could order one, have it waiting for you? there's an app for that. consumer electronics show in las vegas, the app will work with the activated my think system. customers able to order and pay for pizza from behind the wheel, perhaps on the way to pick up the pizza and on the way home. 40% of sales come from online orders. imagine that the interwebs will be very busy for the super bowl. >> exactly. >> i said no anchovies, make sure you annunciate. >> i've come around on the an

we got a nice preview from adp, the payroll processer on wednesday. they said more than 200,000 prooifrt seco private sector jobs. today, we might see north of 200,000 jobs added. barring major surprise, we could see the biggest annual gain since the recession ended in 2009. >>> meantime, alcoa used to be the first to report. now they're making headlines for another reason. in hot water. agrees to pay more than $380 million on thursday. the s.e.c. says they bribed people for years. it's not the way the u.s. wants american companies to do business. >> theoretically, every citizen in the country of norway is a millionaire? >> technically. technically. everyone in norway is. at least this week, thanks to the fortunes of the country's sovereign wealth fund. the fund's profits have ballooned thanks to rising oil and gas prices. create t in 1990, the fund owns about 1% of the world's stock as well as bonds and real estate. the government has resisted the temptation to spend the cash, saving it for a very big rainy day. given the crisis in europe in the last

adp jobs data showed a surprising 238,000 workers were added to payrolls last month.and the fed minutes revealed officials agreed in december to taper the bond buying program because it would eventually lose it's zing to the economy.that lead to a mixed market wednesday with the dow down 68 points..nasdaq in the green by 13, the s&p was close to unchanged while gold fell $6 and oil dropped $1.11. let's do lunch! out-going fed chair ben bernanke has a lunch date today with senate democrats.the cbo reports the government recorded a $44 billion surplus in december.macy's out with a shocker after the close. the retailer plans to lay off 2,500 employees and close 5 stores. the chain also narrowed its sales growth forecast. todd horwitz of averagejoeoptions.com opens up our trading day. good to have you on the show as always todd. >>good morning angie. >>there was big news in the treasury department yesterday with the 10 year yield reaching 3%. what do you expect as far as follow through? >>i think we're going to 3 ½ maybe 4%. i think that the bond market has gotten away from the fed and as w

adp jobs number, 238,000 jobs created in the private sector last month.n all of 2013. that was positive. the ten-year auction, we're going to talk about it in a little bit, and the fed minutes. >> and we're still di justigeste news from yesterday, the smaller trad

was the fact we taper is bordered by prayer and fasting been expected after strong believer report by adp private institute shows that u s cardinals at two hundred and thirty eight thousand jobs since december at the market estimates. but a hero is coming under some selling pressure as market players take profits in the common currency savings and ideas and themes the industry can see that you again is now at one hundred and forty two point two one two to three and also keep track of on the hike is in the asia pacific region predicted they are tired december a cpi between the east and the center of the house i'll call him ben nelson's interest rate policy decision as well. xd i rightly been to la for that update mainly from the tokyo stock exchange. i will be back next hour with more business headlines for now i'll leave you with a tackle some other markets tickets the jenny's race issues have achieved another first with the sounds they can develop into any type of oil in a tissue. they developed a method of treating ips cells without using animal tissue they see them at that one signific

if witnesses are looking to pierre and is no suggestion that anybody is reluctant to be a few months adp very old boys in the current climate he seemed to reject an invitation from the dnc. they have the car to cope with all that going committee and to compel witnesses to attend but as more pc member said to me at the salon way down the road. we don't really want to go there. i did david thank you hse for solicitor and a mortgage broker have admitted their roles and strolled in which forced and falsified documents we use to borrow more than nine hundred thousand euro from two financial institutions. many money from don't care enough in you and pray. noll ryan from falling appears tennis court the county wexford are due to be sentenced next week mary multiplexes to see mr for over twenty five years she was the court was told today. well respected in which all of your involvement in this fraud has led to the most of her income. her ability to learn on her complete ruin. the fifty five year old mother of two to cut for molds with two financial institutions secured property loans limited and

yesterday, adp reported companies added 238,000 jobs in the month of december. of course tomorrow we have the monthly government jobs report. mixed day on wall street. dow and s&p 500 were to the down side. technology heavy nasdaq was up by 12 1/2 points. steve sedgwick live in england for us. t mobile shaking it up. now they want undercut at&t's business. >> this vicious war between the top four players in the states is getting nor intense. now t mobile, the fourth largest is offering customers $650 in credit after trading in their phone. they have to pick up a new phone and also offering five lines per family for consumers who leave the carriers. at&t in response said they would give credit specifically to t mobile customer who's switch to them. elsewhere though, we've got a new phenomenon in credit checking. this is where a lot of the potential lenders are looking at facebook and other social media sites, trolling through looking for information that could judge whether someone is credit worthy or not. you put different information on your application for loa

you didn't see it in adp, a big difference in terms -- >> there are methodological differences.er, fill us in on the weather impact. >> there was a weather impact in the household survey. it does not affect the 74,000 number, maybe some noise that is going to have to be washed out. 1.7he household survey, 174,000ull-time -- full-time workers reported that they were part-time because of the weather in the month of december. the highest number we have seen since 2005 in december. at all did not work because of the weather in this survey period. it was not reflected in the 74,000 number, something to consider. there was a storm that shut down the federal government december 5. we will have to look with the numbers get revised. the point about revisions is well taken, a big change for november, no change to october, this is a difficult period because of holidays. >> stephanie, your question on chairman yellen, i don't think it changes the lowering of quantitative easing. participation rates stay the same, 62.8%. they made it clear they are looking at the unemployment number. they ar

the adp survey this morning showing that the u.s. added 238,000 jobs in the month of december.en gathering a lot of attention. toryone from regulators investors trying to decide exactly what to make of the currency. advocates are in washington, lobbying to keep the industry alive. for more on the push to get bitcoin excepted, carter joins me from washington. what are the lobbyists saying? >> they are making the case that this is a new technology that the united states needs. the old system is outdated and they can bring efficiencies. they are trying to talk past the previous pitfalls of using bitcoin for illicit activities and focus on what it can do for business and consumers. >> who is the opposition? is it all regulators concerned that bitcoin will be used for illicit purposes or are there industries that perceived bitcoin as a threat? >> it has been mostly regulators who are particularly worried about money laundering, about moving currencies for illicit purposes. the other industries that move money that are potentially threatened by bitcoin, they do not come out of the wo

that equates to a lot of adp. but again i guess i want to circle all the way back around to say san francisco has done a fantastic job with realignment. i think the questions that have been asked and the issues, the moving parts that are unknown right now really needs to have some time to play out. the environmental aspect of having that report then gives us a year to relook at that. and i completely support the board's analyst recommendation to let that time go. let's take a look and get some of these answers, and then see and make a better decision a little bit further down the road. >> thank you very much, chief. and i know that we have our public defender in the audience as well. i want to thank public defender adachi for his patience. thank you for being here and thank you for your report. >> thank you very much and good afternoon. my office provides legal representation to over 20,000 people every year. about 80% of the people who are in custody are our clients. they're not just there just to sit and wait in

the s&p just moving into negative territory. 0.4%.n adp employmentat report coming in earlier this morningbut not enough to really move the needle. that will be the fed's data coming out and then the jobs report on friday. jcpenney shares selling off big after the company reaffirmed its look or the fourth quarter, saying they were pleased with the holiday performance, but did not provide monthly sales data. more "bloomberg west" is ♪ >> this is the early edition of "bloomberg west." i'm emily chang. for your top headlines. one day after four u.s. air's members were killed in a helicopter crash in england, there has been another incident. a navy chopper had to make an insurgency -- emergency landing off the shores in virginia. one person is missing. u.s. congress is getting more involved in republican primaries tea year, hoping to defeat party republicans. thomas donohue says the chamber will be backing candidates that favor trade, energy, and immigration reform. new developments regarding chris christie. mails, theyhe e- write it was time for traffic goblins. lane closuresthat were to get