Market Overview & Economic Commentary - The market exhibits investor exuberance, potentially indicating overvalued or fully valued assets [4] - Deregulation and the ability to execute deals are expected to stimulate the economy [3][9] - The depreciation on capital expenditures is a significant economic driver [10] - October is anticipated to be a challenging month for the overall market [8] Banking Sector Analysis - JP Morgan's stock is considered expensive, while Wells Fargo is undergoing a rerating as it emerges from a penalty box [1] - Citigroup is viewed as undervalued compared to its peers, reaching a target range of $102-105 [1] - Goldman Sachs has achieved its most profitable year ever, signaling a positive environment for the economy [6] - Financing activity is increasing, including the largest leveraged buyout (LBO) ever, and banks are eager to finance AI buildout [5][6] CEO Sentiment & Future Outlook - Bank CEOs express optimism, particularly regarding M&A activity [7] - Goldman Sachs believes it can strategically accomplish objectives in the current environment [5] - The core M&A business is thriving, indicating active deal-making [7] - The job market's stagnant nature, characterized by low hiring and firing rates, poses a potential downside risk [9]

A host of alternative jobs data from Wall Street are pointing in the same direction: The U.S. labor market is losing steam.Read more: https://t.co/x0IKrP8Haq https://t.co/WapWiOQFFT ...

A host of alternative jobs data from Wall Street are pointing in the same direction: The U.S. labor market is losing steam https://t.co/xGA9h60Ca3 ...

McCay wrote a piece this year entitled The Visionary of Trump 2.0%, in which he takes a look at Russell Vot's potential impact under Trump's second presidency, which I'm thinking we might see quite soon. Uh, we'll get to that in just a moment. Um, Mara, I want to start with you though on my question.Um, in terms of the American people, busy, hardworking, maybe a little bit tuned out, like exhausted by the news. Um, are they really clued into what's at stake. How quickly would Americans feel the cuts to heal ...

Treasuries hung onto gains after US jobs data fueled bets for an interest-rate cut this month from the Federal Reserve https://t.co/wkNTGe945o ...

The fallout continues after President Trump fired the commissioner of the Bureau of Labor Statistics following a dismal jobs report. Joining us right now is White House National Economic Council Director Kevin Hasset. Uh Kevin, want to thank you for joining us.Um let's just start with with a very basic question. Um the president said on Friday that he believed that these numbers were rigged, that they were politically motivated. Do you believe that to be true.You know, as an economist, I like to go for what ...

Let's bring in Jeremy Seagull, professor emmeritus of finance uh at University of Pennsylvania's Wharton School of Business and chief economist at Wisdom Wisdom Tree. I think you're Jeremy Professor, your ship's coming in. Uh the economy has been weaker than than people thought, I think.Yeah. Yeah. And first of all, I'm not going to let the BLS off the hook.I mean, you know, you talk about how to fix it. you know, make these questionnaires mandatory and give them a time limit to fill it out. Um, you know, I ...

Data Integrity Concerns - The report discusses potential manipulation or misrepresentation of economic data, specifically jobs data [1] - There are concerns about the transparency and reliability of reported numbers [1] - The report highlights a significant revision to jobs data, described as the largest since 1968 [2] - The revision is considered a historically important outlier and unprecedented [3] Political Context - The report suggests a potential conflict regarding data reporting, with concerns about political influence [1] - The discussion involves revisions to reported numbers, including those under a previous administration [2]

Data Integrity & Political Influence - The central argument revolves around the integrity of government data, specifically jobs numbers, and the potential for political manipulation [2][3] - The speaker strongly refutes the idea that the jobs numbers have been politically revised or underreported, stating there's no statistical evidence to support such claims [3] - The speaker expresses concern that the President's actions could undermine the reliability of government data, potentially turning the Bureau of Labor Statistics (BLS) into a politically aligned entity [4][9] - It would require a massive conspiracy within the BLS to successfully politicize the data, highlighting the difficulty of manipulating these numbers [9][10] Data Revision & Accuracy - Jobs numbers are routinely revised due to the availability of more complete data, a standard practice for improving accuracy [2][5] - Revisions occur monthly, then again, and finally annually, reflecting the ongoing refinement of estimates with actual data [5] - The response rate to surveys has decreased since the pandemic, impacting the reliability of initial data [4] Historical Context & Ethical Concerns - The situation is compared to the McCarthy hearings, emphasizing the outrage caused by unfounded accusations of politicization [2][8] - The speaker cannot recall a similar instance of a political firing of a government data official at this level, underscoring the unprecedented nature of the situation [7][8]

Donald Trump accused Labor Statistics Commissioner Erika McEntarfer of inflating jobs data before the 2024 election to aid Kamala Harris and called for her removal. He also urged Fed Chair Jerome Powell to step down, criticizing pre-election rate cuts as politically driven. https://t.co/sM7BJZ7kDt ...