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Showing posts with label CNBC | Squawk Box.. Show all posts
Showing posts with label CNBC | Squawk Box.. Show all posts

Jan 10, 2014

CNBC | Squawk Box January 10, 2014: Get your portfolio ready for Jobs Friday.



In the news today
It’s Jobs Friday! Wall Street will be tearing apart the December employment report for more signs of an improving labor market and, in turn, what it could mean for the future of Fed policy. (CNBC)
Bridgegate could heat up again today for Gov. Chris Christie, R-N.J., with thousands more internal documents expected to be released in the traffic mess scandal. (NY Times)
Authorities say the spill of a coal processing chemical into a West Virginia river Thursday that originated with Freedom Industries has led to a tap water ban for up to 300,000 residents. (NBC News)
It turns out that Mathew Martoma, the ex-SAC portfolio manager on trial for insider trading, was expelled from Harvard Law School in 1999, according to court documents. (Reuters)
When it’s all said and done, Wall Street banks could end up paying $50 billion to settle government investigations into the role they played in the mortgage crisis(NY Times)
Google has taken a big step towards merging Gmail contacts and its social network circles. But not everyone is happy about it. (Huffington Post)
Back it up! Now a Ford marketing exec who stired privacy concerns said he was wrong to suggest the automaker uses GPS devices in vehicles to collect data on how people drive.(CNBC)
Red and blue seem to make green on Capitol Hill. Millionaires are now the majority in Congress with both Democrats and Republicans sharing the wealth. (CNBC)

By the numbers
The employment report is due at 8:30 a.m. ET, and in recent days, economists have been raising their estimates because of other upbeat data. Right now, consensus forecasts call for 200,000 new non-farm jobs for December, with the unemployment rate remaining steady at 7.0 percent.
Stocks to watch
Gap reported flat December same-store sales, compared to analyst forecasts of a 1.5 percent increase. The parent of Gap, Banana Republic, and Old Navy also reaffirmed full year earnings guidance of $2.57 to $2.65 per share, below consensus estimates of $2.69. The retailer did say it expect earnings to come in at the high end of its outlook because of an upbeat holiday season.
Sears Holdings reported quarter-to-date same-store sales are down 7.4 percent, and also projects a fourth quarter loss much larger than analysts had been anticipating.
Chevron is predicting fourth quarter profit that will be comparable to the third quarter’s $2.57 per share. Analysts had been predicting quarterly profit for the oil giant of $2.91 per share, but Chevron and others have been dealing with the effects of sagging global production.
Overstock.com is now accepting bitcoin as payment on its site, saying it’s the first major online retailer to do so.
Squawk newsmakers
We’ll see how one of the country’s biggest and most respected hospitals is handling its new Obamacare patients. Toby Cosgrove, head of The Cleveland Clinic, will joins us at 7:10 a.m. ET on CNBC’s “Squawk Box.”
At 8:10 a.m. ET, PepsiCo Chair and CEO Indra Nooyi will talk about how the soft drink and snack food company plans to bubble up profits in the New Year.
And ahead of a hearing on the nation’s jobs picture, Rep. Kevin Brady, chairman of the Joint Economic Committee, reacts to the employment report. The Texas Republican will be with us at 8:50 a.m. ET.
Watercooler
Sports teams are making bets on newly legalized online gambling in New Jersey. (NY Times)
Talk about the ultimate perk! Google buses weren’t enough—now workers have their own 83-foot, high-tech catamarans to ferry them part of the way to the Silicon Valley campus.(USA Today)

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