Fox News
Expand
Browse All Video
Watch Live

You're watching...

Obama: There will be continue to be economic 'hurdles'

Details

  • Description

    White House bracing for upcoming jobs report?

  • Duration 3:23
  • Date

Clips

Also in this playlist...

Editor's Picks

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Well the Washington I'm -- -- this is a Fox News alert financial analysts say markets here in the US -- today on worries about the health of Spanish banks.

And the continued spread of the eurozone debt crisis.

The -- here lost 161 today the S&P 500 dropped nineteen the NASDAQ fell 34 with one day of trading remaining in May.

The Dow has lost 6% this month.

The decline on Thursday would make this the worst monthly performance for the blue chip index since may -- 2010 when the European crisis first flared up.

We will get a clear indication of where the economic recovery stands in the US and with -- president Obama's reelection chances.

In less than 48 hours while hoping for the best.

The president and his people are preparing for something for short of that.

Chief White House correspondent Ed Henry has tonight's top story.

But just minutes after placing a phone call to Mitt Romney to congratulate him on officially securing the Republican nomination we've got more work to do President Obama turned back to the defining issue of the campaign.

The economy.

And warns of big unknowns like the European debt crisis.

Could bring any recovery to a screeching halt there will continue to be her hurdles in the war continue to be some headwinds.

That we can't fully control top advisors to the president privately admit they're bracing for the latest measure of those headwinds on Friday.

With the monthly jobs report from day one tough advisor noting to fox the stakes are raised on each one of these reports coming out between now and November.

Since a string of negative numbers.

Could tee up governor Romney's case that he's mr.

fix it -- almost every dimension he's made it harder for our economy to come back.

And to put people to work.

I understand it because I've lived -- the signals ahead of Friday's jobs report are bad in terms of long term unemployment with the Washington Post highlighting federal data which shows.

The employment rate for prime -- workers 25 to 54 is just 75 point 7%.

Only one percentage point higher than it was at the worst point in the Great Recession.

And consumer confidence is plunging.

Despite expectations it would be improving since voters have more money in their pockets from falling gasoline prices.

The conference board's consumer confidence index just had its sharpest drop in eight months a healthy index is ninety.

Yet in May it -- down several points to just 64 point nine.

Thanks to slow hiring underwater mortgages and a declining stock market.

It's not surprising that they're they're getting a little bit -- about their confidence.

However I I think I'm going forward for the next few months the fundamentals they face are gonna continue to improve.

You -- as he signed legislation to boost US exports the president suggested he's hopeful of such a revamped.

Nevertheless given the storm clouds in Europe that he has little control over he's pressing congress to pass other items to spark the economy.

America.

Has come through some tough times together.

Who's gonna take more time than any of us would like -- -- Get took place where all of us have fully recovered from -- worst recession our lives.

Another big -- coming tomorrow when we get a revised estimate on GDP for the first quarter some analysts predicting.

That we could see economic growth revised down from 2.2 percent to just one point 9% approximately.

That would be another sign of turbulence ahead Brett.

And Henry loved north lawn Ed thank you.

Not even the most.

Load More