Bloomberg Daybreak: US Edition Daybreak Weekend: US Jobs, Special European Council, Australia Eco
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Feb 28, 2025 Michael McKee, Bloomberg's International Economics and Policy Correspondent, shares insights on the February jobs report and its implications for Fed policy. Mary Ross Gilbert, Senior Equity Analyst, analyzes Macy's and Gap's fourth-quarter earnings amidst retail challenges. Swati Pandey, Australia EcoGov reporter, discusses the effects of the RBA's recent rate cut on the Australian economy and the recovery of consumer spending. The conversation also highlights key global economic trends, making it a must-listen for investors.
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February Jobs Report Preview
- The February jobs report, due Friday, is crucial for understanding the U.S. labor market.
- Economists are predicting around 158,000 new jobs and a steady unemployment rate of 4%.
Retail Earnings Preview
- Macy's and Gap will release Q4 earnings on Thursday, offering insights into consumer spending.
- Macy's is expected to meet estimates, while Gap may exceed them due to strong performance at Old Navy.
Old Navy's Activewear Success
- Gap's Old Navy brand launched 'Studio Smooth,' a new performance fabric for activewear.
- Priced at $28, significantly lower than competitors like Lululemon, it's already seeing strong sales.