Trump hints at strong jobs report ahead of its release

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President Trump broke years of presidential protocol on Friday morning by posting a tweet that signaled a strong jobs report was on its way from the Labor Department an hour before the report was released.

At 8.30 am, the Bureau of Labour Statistics released the official report for the month of May, which showed that there were 223,000 net new jobs in the month and that the jobless rate declined again to 3.8 percent, its lowest level since April 2000.

Trump sent out his tweet at 7:21 AM on Friday; the jobs report was released at 8:30 AM.

The White House press secretary, Sarah Huckabee Sanders, told CNBC the tweet was acceptable because the president "didn't put the numbers out".

Former Bush and Obama administration officials knocked Donald Trump today after the president teased the country's employment numbers in a tweet this morning - which seemed to suggest the information was positive.

If one can draw a postive inference from the fact that the President tweeted a "heads-up" an hour in advance of the jobs report, what conclusion will traders reach if he fails to do so in the future, and what impact will that have on markets?

"He chose to tweet", Kudlow said, downplaying the matter. Trump has made the roaring stock market a centerpiece of his administration and re-election campaign, though Wall Street has faced recent uncertainty due to the administration's saber-rattling over tariffs.

Omair Sharif, a senior US economist at Societe Generale, said the tweet creates a conundrum for traders ahead of future jobs reports.

"Why not? He didn't give any numbers", Kudlow told reporters at the White House.

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Mark Zuckerberg, Facebook's CEO, later met with conservative commentators and leaders to defuse an uproar over the allegations. The contractor claimed Facebook downplayed conservative issues and promoted liberal causes.

Industrial production recorded its third straight month of gains, while more than three out of four manufacturers reported hiring more workers and investing more in plants and equipment.

Larry Summer, former director of the National Economic Council, lamented how former President Bill Clinton and Barack Obama would have been in hot water had they commented on unreleased figures.

"He clearly knew something, and was telling us", said Eric Hunsader, the founder of Nanex, a company that supplies market data to the financial industry.

And late previous year, responding to criticism that he had been silent about the deaths of four U.S. Special Forces members in Niger, the president referred the 2010 death of White House Chief of Staff John Kelly's son in Afghanistan, publicly revealing what Kelly had shared privately with him - that then-President Barack Obama did not call Kelly after his son's death.

A booming jobs report and signs the economy is expanding at a healthy pace despite global trade disputes proved too much for President Trump to keep quiet about Friday. The information is protected so carefully that the chairman of the White House Council of Economic Advisers receives it only the afternoon or evening before its release. The monthly report is one of the most market sensitive pieces of economic information released by the government and is carefully guarded ahead of its release.

"About two-thirds of the drop in the unemployment rate in May was because workers found jobs, while about one-third of the drop was from people leaving the labor force", wrote EPi economist Elise Gould in a blog post.

"You can read into that 10 different things", Kudlow said.

"This certainly was a no-no".

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