Media Navel Gaze: October 5, 2015
The Week Unpeeled
Bitter Jobs News: The US employment picture turned a bit cloudy and certainly got a bit of media attention (a little bit more than usual of late) with payrolls up a modest 142,000 jobs in October and previous months revised a bit downward. The overall unemployment remains low at 5.1 percent but still the sluggish growth seemed to show that global weakness is having an impact here, which means the Fed will likely hold off a bit to move on rates.
- Stocks, meanwhile, climbed late last week to post a slight gain for the week (up about 1 percent), with the Dow closing Friday at 16,472; for the quarter that ended last week, the Dow was down about 7 percent, one of the worst three-month performances since 2011;
- Wal-Mart announced layoffs at headquarters (450 or so);
- Google officially became Alphabet;
- An Oregon college suffered a shooting rampage with 10 dead;
- Ralph Lauren stepped down as CEO of his empire (which started as a simple tie company), handing over the stylish reins to Larsson of Old Navy; and
- Josh Tyrangiel is dismissed as Bloomberg's chief content officer.