NATE BURLESON:
00:00:00
In this morning's Money Watch. We have breaking news this morning on the economy. A brand new jobs report from the government. Money Watch correspondent Kelly O'Grady is at the New York Stock Exchange with all the details. Kelly, good morning. Good morning. We are getting a ton of economic data that's giving us a fresh read on the US economy. So let's start with that jobs report. The US economy added 119,000 jobs in September. That's much better than expected and a significant turnaround from a loss of 4,000 in August. The unemployment rate, however, it ticked up to 4.4% the highest we've seen since October 2021. Takeaway is generally a good jobs report, though there is concern, the info is dated, and we know layoffs ticked up in October and beyond. Meanwhile, we also got Walmart earnings this morning. The retailer beat expectations and raised its guidance for the year, saying it's gaining from consumers across income levels. So consumers are still spending, but it's significant wealthier customers are also looking for deals right now. Finally, AI chipmaker NVIDIA, reported stronger than expected third quarter earnings of $57 billion in revenue. Demand for its chips, which are the building blocks of the AI industry, is off the charts. But this news doesn't alleviate fears of the AI bubble. Just because those companies are spending on NVIDIA chips, doesn't mean they're going to turn a profit.
NATE BURLESON:
00:01:15
All right, Kelly, thank you very much.
