美国就业数据与密歇根初选：经济分裂与AI交易

You were talking about socialism in the New Democratic Party. When you talk about some inconsistencies, maybe in the Republicans language. They have talked about the communists, socialists, Democrats, and they asked him what a socialist was, and he said it. The government owns the means of production. And then I pointed out that the Trump administration has been taking stakes in a lot of American companies. John Edwards years ago was old school.

And what I saw today was a two Americas job economy. Have you ever seen it? Mike McKee. This split apart as we all struggle to retirement. I don't think it was to split apart this time. It was a lot of stuff under the hood that you have to kind of thread together to make a story out of it. Now, we did lose 23,000 jobs, but 50,000 of those were local education teachers and education workers. And a lot of that may be just a seasonal difference of when people were taken off payrolls because they usually come off May and June, and so that'll go away in the next month.

And then the question is, where's the rest of the job? I'm not used to this. We lost 19,000 retail jobs, but the rest of it was all just kind of lower hiring, social services and education, uh, and health has been the big job creator. And we've been usually getting 30, 40, 50,000 a month in that category. We only got 22,000. So hiring slowed down, but we had a 4.1% unemployment rate because a lot of people left the labor force.

Labor force was a lot smaller again. Yeah. Second month. And what's that's telling you is that the president's deportation plans are working. The baby boomers, except for Tom, are still, uh, retiring now. And, uh, I he looks behind his shoulder. Left last time on the show for him. Save the show right now. Oh. Young man. So the jobs report took inflation off the front page, at least for this morning. But when it comes inflation, still not oil prices, David.

And consumers have the Iran war fatigue. Every headline a military strikes or talks causes huge swings in oil prices and gas prices. It's really difficult to know where things stand. I think even the president has around war fatigue. I think that's true. I mean, he's been talking about the prospects of a deal, but it's one that's been negotiated between the Iranians, the Omanis, and a very circumscribed one that doesn't involve certainly the nuclear program or anything like that.

Interesting to see the way in which the president, if not talking about the Iran war, isn't pivoting to talking about the economy, although we do know from recent reporting from Bloomberg and other outlets. He's calling up Kevin Warsh, calling up the fed chair more frequently now to talk about the economy, spitball his ideas of where things are here, about his impressions of the data, so clearly cognizant of where things are.

But that's not manifest in the way that he's talking about on the campaign. Is it odd, David, that we're ignoring affordability standard of living paycheck to paycheck right now? It seems like nobody's talking about it. I wouldn't paint that with a broad brush, but I'd go back to the white House, and it is something that I think President Trump's advisers desperately wanted to talk about more of the advances that he's made.

And you saw him go to Las Vegas this week to talk once again about no taxes on tips, which was such a rallying cry during the campaign, but it is not something that he is either fond of talking about or able to talk about, or able to stay focused on when he's on the campaign trail. So I think that it is laid bare for so many people. You mentioned oil prices, gas prices, incredibly expensive. I think there's an awareness of the fact that that is the case here across this country.

But it is certainly, to your point, certainly not the Republicans like Geist, the president, cite Geist. You look at the election that we had in Michigan this week. It really was an animating issue. And even when you see kind of invective put on the the candidate who won on Abdullah said he pivots very quickly to talk about affordability in health care and other matters. So it's because of this that investors kind of take matters into their own hands.

And so you've written a story about how artificial intelligence is helping retail investors become kind of DIY hedge fund managers. They're using this technology to build programs and generate huge returns in the stock market, because this is what they see as their path forward. Exactly. If you think about kind of the progression of retail trading, this is almost like zero Commission 2.0. So five, ten years ago when Robin Hood kind of spearheaded the zero Commission period.

And then during the pandemic, we saw like GameStop and meme stock trading. And now it's almost the next chapter for retail trading. Um, especially with artificial intelligence, these folks that we talk to, they don't just ask. I like what stocks to buy. They're asking them to help build code, build a model, very sophisticated model to help them identify strategies and even generate trading calls. Okay. So on the one hand this empowers individual investors.

But on the other hand, everyone is using these AI models which kind of look through the same data and they use similar models and I would imagine spit out similar outcomes. Doesn't this create, you know, concentration risk where people pile into the same positions for sure. If you're if they're using the same eye models and generating similar calls, that could really amplify the market swings. Those are calls. Does I tell you when to get out?

Um, it does too. Um, some people have set up, for instance, um, 10% stop losses. Um, so that That we used to do that we didn't need I. Yeah. But if you were trading at a high frequency during the day, when you're at your day job or when you're having lunch with friends or even when you're sleeping, these eyes can actually execute or automate your strategies for you. I want to bring back two jobs for a moment here. Mike McKee.

Do we see any evidence of AI? The kind of stuff that I was talking about taking away jobs so far, or is it still too early to look for that? Too early to look for that? But we did see evidence that I is adding jobs because there were 22,000 construction jobs added and about 19,000 of those were in areas adjacent to building AI data centers, none non-residential construction, specialty contractors and things like that.

And then you had another, uh, 4 to 6000 jobs in computer and semiconductor manufacturing. So those were some of the positive areas in this jobs report. And they're definitely linked to AI. But too early to say. Um, well, I didn't look at the actually jobs for stockbrokers, but uh, to really get up too early to say that AI is having a big effect on them.