Bloomberg Daybreak: Asia Edition Daybreak Weekend: US Jobs, Special European Council, Australia Eco
Feb 28, 2025
Mary Ross Gilbert, a Senior Equity Analyst at Bloomberg Intelligence specializing in retail, shares insights on Macy's and Gap's fourth-quarter earnings and their recovery strategies amid economic uncertainties. Swati Pandey, an Asia EcoGov reporter, discusses the Australian economy's resilience, highlighting consumer behavior and labor market dynamics. They also explore potential impacts of U.S. tariffs on trade with China and the cooling inflation trends that are shaping economic policies in Australia.
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February Jobs Report Preview
- The February jobs report, released Friday at 8:30 AM Wall Street time, will offer insights into the U.S. labor market.
- Economists are predicting around 158,000 new jobs and a steady unemployment rate of 4%.
Impact of New Administration on Jobs Report
- Uncertainty surrounds the February jobs report due to the new administration's impact.
- Layoffs beginning February 14th may affect average hours worked but not overall employment numbers yet.
Retail Earnings Preview: Macy's and Gap
- Macy's and Gap will release Q4 earnings on Thursday, including the holiday quarter performance.
- Macy's is expected to meet revenue estimates, while Gap might exceed them, driven by strong Old Navy performance.