The First Look - Liz MacDonald, Fox Business

Well thanks for stopping by you know the stock market give -- in the stock market take it the way. I into the yesterday breakdown -- market Dallas at 65 points NASDAQ was up four S&P was up seven. But today June on the heels of that unemployment report from eighty. At a time if things are looking so good tonight. My goodness I know very Dow futures down fifty now NASDAQ down twelve S&P 500 down five it is red. Across the board ten year US treasury at one point 912 slightly down their gold. Trading down three dollars and ninety cents oil is down 35 cents and and yeah. Is it ADP report. How much it do you really do you buy into the eighty. ADP numbers they are pretty bad those are you doing. Have they were pretty bad I mean recent hiring has slowed down and is that the ADP private employment report for April and here's the deal. The ADP report again which covers the the private sector that number came edit and at a 1191000. Jobs. Expectation was -- for -- -- the place that edit a hundred at least five about the -- Again that the lower than -- 190. It's actually dramatically lower than -- children nine as the increased recorded in March. Help me understand this they'll lose because here's the thing that it did isn't jiving EU had yesterday the manufacturing number that Chicago. I SM not are not that -- Chicago the ISM number came out yesterday that was a lot stronger that's why the market rallied to such a degree. Ooh how did how can you have. A strong ISM number and a weak jobs created number doesn't make sense. Because of that the cover small business. Not that that those with one. 49 employees showed that they are no longer driving. A higher in the united is just 58000 jobs created by all of this is that the load the pocket. In fact companies but it is rather that produce good lost jobs large businesses that whether 500 worker and it just worked about the job. And here's spilled ADP is whether may have made a -- there. That are hiring in the -- Winter months the -- it was a puppy back in the -- it does this have done hiring a baby to do now yup but. What all this means is that they'll likely European decline -- and obliterate this Friday clinic or at least the number. You know let the labor force shrinks again which again would not be a good -- either. You think don't you think ADP is accurate. And the be accurate tracking it it's a good question because. I'm looking at charts and that DT. I always wondered well what do can we trust the eighty Nuremberg re really track with the economy. -- I think going back to 2002. ADP payroll or the Labor Department our jobs numbers they totally tracked completely tracked. But it Elena. Well you know I guess the big question comes up it's small business owners are not hiring. But my sense of it is in at least in the in the arena that I talk to the guys up in the Boston area or gals in the Boston area. They tell me they're not hire at least in Massachusetts. The cost of health insurance is a major to tractor from them being willing to expand their business they don't wanna put people lawn because they're afraid. Two things one Acosta health insurance and then if they -- people -- we have this thing called BS you -- it's a state unemployment insurance fund. And my a bookkeeper came to -- said. Beat the cost associated. With just staying in business because of the unemployment insurance benefits. Is staggering it is just killing us. He and I'm not sure that. The White House has taken into account they dramatic aspects of health reform and the impact that all that is their healing from both before and any -- question is -- go from here in -- is that completely -- crippling. Basically to have health reform at a time when we've gone through with being called the greatest recession -- Well in Massachusetts is a great case in point because we're already experiencing. The costs associated with universal health care -- New Hampshire is not. In New York is not you guys don't have mandatory health care. And I costing so tell me a Broad Institute excellent from Massachusetts that the premium they'll have risen -- the health costs and eight beta testers that not -- down. Oh yeah they've gone way up we we pay more by bought the same plan that I give to my employees. In Massachusetts of my -- in new Yorker Arizona -- be anywhere from twenty to 40% less expense. Because yeah I mean I repaid all the deadbeats. Right I had seen those numbers and the -- -- -- getting out immediately went to look at this state level numbers that are looking at it that it is concurred the figures bank. Now -- it's it's a staggering costs are it would what are you expecting probably we get factory orders numbers at 10 AM do any. Any expectations down their -- Well I mean. He played attic -- -- it's really tough to figure out what the heck is going on because. We've make it deployed apparently is that earlier that the factory and amber and nurturing numbers that Elvis look like economies still struggling in two separate skiers you know. That's factory data -- in becoming and a K. What I'm looking at now though is how is that market taking -- and -- -- win again in the market the global -- trending down he's -- just hanging and it ticked up. And an aspect is not that great it just lightly barely in the Green -- Though you know. I just that the sentiment have looked at scratch my head and am looking at these job numbers and they were real alarming thing all of finding a job numbers is. That week to week to week. The government has revised the weekly job less number -- for 58 out of the last its ninth week -- have been revised higher after the back. Always in the same direction hire him and not uncommon endemic the president we unemployment never looked great when compared to the prior week. Welling and you eat your expectations for Friday is the kind of an anemic report based on what yeah ADP today. Yet to opt out of jobless rate is start to feel pretty -- to it good or an amber doesn't include people stop looking for work -- backdrop to people back again. You know or it's just it's not that human gloomy but the rate is really -- like that -- -- that. And I feel like you know these these numbers that -- that it way. But not. Shelling policy debate between the edict from the war and that they -- I think got the wake up all. What the numbers should be and maybe they would get on the ticket they pay we've got to do something here and top. You know putting these black that and all these boat anchored on all of this is. And he knew that in -- -- out of batteries there it is -- where board and by keeping interest rate that is an application in fact Dallas fed reserve official Richard Fisher and it's right now. He's saying -- -- the effect that. He that the congress that that keep that time is the gaping accountability. Bite been this low interest rates -- state by abdicating to the bed -- but speculate as well it's very policy does -- congress get on the stick. And let's kind of escape accountability and in -- -- Well you know I I I think you have a little more confidence in congress than I do -- idea -- there. And and but I really anybody does all right we'll list thank you very much for your time pressure appreciate sure I'm delighted -- that's Liz MacDonald from the Fox Business Network. Giving us the deet tails on that jobless report that we got this morning and of course you're gonna get a weekly number tomorrow and then we'll get the big monthly number on Friday so that's or stand.