Tuesday, June 5, 2012

Video: Jobs report has investors nervous



LESTER HOLT, anchor: Tonight, a lot of nervous investors are anxiously awaiting tomorrow morning's opening bell after a dismal Friday on Wall Street . The Dow has now lost all of its gains for 2012 , investors reacting to a disappointing jobs report and new fears the economy is sputtering. CNBC's Mandy Drury joins us now here in New York tonight. Mandy , what might we expect tomorrow?

MANDY DRURY reporting: Well, you know, you really said it, Lester , because the much lower than expected number of jobs created in May has reignited fears that the US economy could double-dip. Remember, we have been here before. Concerns about us falling back into recession is what pushed the stock market sharply lower the last two summers as well. And it really feels like a triple whammy now because on top of the US economy seemingly slowing down, European markets are dealing with a debt crisis and Asian economies are slowing down, too. So what that does this week is it sharpens the debate at the central bank as to whether they should do more, Lester , to stimulate the economy. You're also going to hear a whole lot more on the economy from both President Obama and Mitt Romney as we get closer to the November election as voters, like you, are focusing on their job-creating credentials. In terms of what this market turmoil means for you and for me, yes, it may be scary to look at your 401(k) right now, but the turmoil is also pushing down mortgage rates. Currently, they're sitting at record lows. It's also pushing down energy costs, for example, when you go to fill up at the pump. So there are pros and there are cons. But these are certainly things we're going to be keeping a very sharp eye on when we go back to open up the markets tomorrow.

Lester: All right, Mandy Drury , thank

HOLT:

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