Reported about 1 month ago
The August jobs report revealed a lower-than-expected addition of 142,000 jobs, prompting discussions about the Federal Reserve's potential rate cuts. While Gary Schlossberg of Wells Fargo highlights that there is 'no smoking gun' to guide Fed actions based on this report, he remains cautiously optimistic about a soft landing for the economy, noting the necessity for more data and the possibility of a recession as job openings decline and underemployment rises.
Source: YAHOO
Reported about 1 month ago
Despite August's jobs report revealing only 142,000 new jobs added, which fell short of the expected 165,000, EY Senior Economist Lydia Boussour reassured that the labor market is not experiencing a severe decline. She suggests that the Federal Reserve is likely to implement a modest 25 basis points rate cut rather than a more drastic 50 basis points reduction, with a total of 125 basis points projected for 2025, while noting ongoing positive trends in inflation.
Source: YAHOO
Reported about 1 month ago
Federal Reserve Governor Christopher Waller has indicated that the time is right to lower the federal funds rate as inflation decreases, emphasizing that the shift in risks is now leaning towards employment concerns. His comments suggest that upcoming monetary policy adjustments may prioritize easing rates to support the workforce.
Source: YAHOO
Reported about 1 month ago
Google's second antitrust trial kicks off on September 9, aimed at its advertising technology business. The Department of Justice's lawsuit alleges that Google has created a monopoly in the adtech ecosystem, echoing recent legal challenges after a judge declared that Google illegally maintained a monopoly on search. This trial could have significant implications for Google and its parent company, Alphabet.
Source: YAHOO
Reported about 1 month ago
The US economy added 142,000 jobs in August, falling short of the 165,000 jobs predicted by economists. While it marks an improvement from July's figures, the underperformance has prompted analysis from Wall Street experts regarding the implications for the market.
Source: YAHOO
Reported about 1 month ago
In August, the US added 142,000 nonfarm payroll jobs, slightly below expectations, while the unemployment rate fell to 4.2%. Acting Labor Secretary Julie Su discussed these figures, highlighting a transition from rapid job growth to a more moderate pace. Despite the cooling, she emphasized that the labor market remains robust, citing strong GDP growth and increased female workforce participation. Su also addressed the upcoming negotiations involving Boeing factory workers and reaffirmed the administration's support for collective bargaining.
Source: YAHOO
Reported about 1 month ago
In a discussion about the recent jobs report, which fell short of expectations by adding only 142,000 jobs instead of the projected 165,000, NYSE Senior Market Strategist Michael Reinking described the likelihood of a Federal Reserve rate cut as 'a coin flip.' He noted improvements in payrolls but warned that significant downward revisions from the previous month could overshadow the positives. Reinking suggested that while a 25 basis point cut seems likely, the market's response to easing monetary policy remains unclear.
Source: YAHOO
Reported about 1 month ago
The August jobs report revealed a slow job growth with only 142,000 nonfarm jobs added, lower than the expected 165,000, while the unemployment rate fell to 4.2%. Revisions showed previous months added 86,000 fewer jobs than initially reported, indicating a cooling labor market. Wage growth rose to 3.8% year-over-year, sparking debate among economists about interest rate cuts by the Federal Reserve amid signs of a softening economy.
Source: YAHOO
Reported about 1 month ago
U.S. stocks opened higher following the release of the August labor report, which indicated a cooling unemployment rate. Morning Brief hosts Brad Smith and Madison Mills discussed the impacts on Big Tech stocks within the Nasdaq 100 as the market reacted to the news.
Source: YAHOO
Reported about 1 month ago
The Federal Reserve is reviewing the August jobs report, which indicated an addition of 142,000 jobs, falling short of the estimated 165,000. This analysis comes just 10 days before the September Federal Open Market Committee meeting, as officials enter a 'blackout period' restricting their public commentary regarding potential interest rate cuts.
Source: YAHOO
Reported about 1 month ago
The August jobs report revealed a disappointing addition of 142,000 jobs, with notable gains in the construction and healthcare sectors. The construction sector added 34,000 jobs, aided by non-residential construction projects, while healthcare added 31,000 jobs, primarily in ambulatory care. However, softness in residential construction indicated challenges in the housing market. Overall, the report fell short of expectations.
Source: YAHOO
Reported about 1 month ago
The August jobs report revealed an increase of 142,000 jobs, falling short of economists' expectations of 165,000. Yahoo Finance's Alexandra Canal highlights three significant trends to watch: the decrease in temporary layoffs, the growth in hourly wages, and the shifts in the labor force participation rate, providing clues about the labor market's overall health.
Source: YAHOO
Reported about 1 month ago
US stock futures fell following the August jobs report, which revealed an addition of only 142,000 nonfarm payroll jobs, missing the expected 165,000. The unemployment rate dropped to 4.2%, aligning with estimates. Meanwhile, the Federal Reserve is entering a 'blackout period' prior to its September meeting, and Broadcom's shares dropped in after-hours trading due to disappointing revenue guidance.
Source: YAHOO
Reported about 1 month ago
The US added only 142,000 nonfarm jobs in August, below the expected 165,000, with unemployment dipping to 4.2% and wages increasing by 3.8%. Economists suggest this data indicates a 25 basis point rate cut from the Federal Reserve, as the market may not react strongly enough to warrant a larger cut. The report was closely monitored ahead of the Fed's September meeting.
Source: YAHOO
Reported about 1 month ago
In August, the US labor market saw the addition of 142,000 jobs, falling short of the expected 165,000, according to the Bureau of Labor Statistics. The unemployment rate dropped slightly from 4.3% in July to 4.2%, while hourly earnings increased by 3.8% compared to the previous year.
Source: YAHOO
Reported about 1 month ago
In a recent interview, BNY CEO Robin Vince addresses concerns about the financial system as the Federal Reserve considers a series of interest rate cuts. Vince, who leads America's oldest bank, emphasizes the significance of these cuts on the stock market, while also reflecting on the role of new artificial intelligence technologies within the banking sector and their broader implications for society.
Source: YAHOO
Reported about 1 month ago
In a recent discussion, Jobs for the Future CEO Maria Flynn highlighted that while the unemployment rate rose to 4.3%, it remains low when compared to full employment levels. As August's job data and unemployment figures are set to be released, Flynn reassures that the current labor market is not in a 'worry zone.' She emphasizes the importance of monitoring trends but suggests that there is no immediate cause for concern regarding the job market's health.
Source: YAHOO
Reported about 1 month ago
The August jobs report is set to provide crucial insights into potential interest rate cuts by the Federal Reserve following a prior report that raised recession fears. Meanwhile, Broadcom's disappointing Q3 earnings and its less-than-optimistic outlook, alongside new export controls on semiconductor products, cast a shadow over the chip sector.
Source: YAHOO
Reported about 1 month ago
Amid a rocky September for the stock market, investors view the challenges facing major tech companies, particularly in the AI sector, as potential buying opportunities. Analysts maintain confidence in firms like Nvidia, despite concerns over regulatory scrutiny and operational hurdles. Bank of America suggests that the recent stock price dips may present attractive entry points for long-term investors, emphasizing the enduring belief in AI technology's transformative potential.
Source: YAHOO
Reported about 1 month ago
The integration of AI technology into the workforce is raising concerns about substantial job losses, with reported job cuts due to AI reaching around 7,000 in 2024, compared to 4,247 in 2023. Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc., explains that companies are not only replacing some jobs with AI but are also closing product lines and reducing headcounts in certain departments to focus on AI-related roles. The discussion around AI's influence on employment remains contentious.
Source: YAHOO
Reported about 1 month ago
Former Environment Minister Shinjiro Koizumi has announced his candidacy for Japan's prime minister, promising to call a general election if elected and accelerate decision-making. He aims to implement significant reforms within a year, including economic support against inflation and labor market changes. Despite a field of experienced candidates, Koizumi's fresh approach could resonate with voters as the ruling party seeks to recover from scandals.
Source: YAHOO
Reported about 1 month ago
Shigeru Ishiba, a leading candidate for Japan's premiership, has expressed concern over the U.S. blocking Nippon Steel's $15 billion bid for U.S. Steel, stating it could harm trust between the two allies. Reports suggest President Biden is planning to veto the deal due to national security concerns, which has drawn bipartisan criticism and could impact U.S.-Japan economic relations.
Source: YAHOO
Reported about 1 month ago
Nick Pickles, the global affairs head of X (formerly Twitter), has announced his resignation after a decade with the company. He revealed that he decided to leave several months ago and will finish his tenure tomorrow. Pickles has held various roles within the company since joining in 2014 and most recently served as Vice President of Global Affairs. His departure follows other recent exits within X's leadership, although details regarding his future plans remain unclear.
Source: YAHOO
Reported about 1 month ago
Egypt has decided to keep its interest rates at record highs, with the deposit rate set at 27.25% and the lending rate at 28.25%, as it assesses the impact of recent subsidy cuts on inflation. After experiencing a monthly inflation rate decline for five consecutive months, the central bank is cautious following significant price hikes for essential goods earlier this year. Economists predict inflation will stabilize around current levels until late 2024.
Source: YAHOO
Reported about 1 month ago
As Bitcoin and other major cryptocurrencies brace for impact from a forthcoming US jobs report, their correlation with the stock market continues to rise. Current data shows a 30-day correlation coefficient near 0.60, suggesting that Bitcoin's movement is closely tied to equities. Investors await the report amid uncertainties regarding economic slowdown and Federal Reserve interest-rate adjustments. Bitcoin is currently trading around $56,653, significantly below its all-time high.
Source: YAHOO