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US Close To Recession Warning As June Jobs Report Shows Rising Unemployment
2024 Jul 05, 12:12pm | 451The United States is close to breaching the threshold for the Federal Reserve’s “Sahm Rule” according to data from the June jobs report. The Data: The Sahm Rule, named for economist Claudia Sahm, is a heuristic measure used by the Federal Reserve to determine whether the U.S....
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Fed Needs To Frontload Interest Rate Cuts, Say 4 Economists: 'Labor Market's Cooling Trend Is Quite Clear'
2024 Jul 05, 11:56am | 951Despite the stronger-than-expected increase in non-farm payrolls last month, the Bureau of Labor Statistics’ June Employment Situation report indicated an overall cooling trend in the U.S. labor market. Significant downward revisions of 111,000 fewer payrolls in the previous two reports, an...
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Visa Trading Below 50-Day SMA: A Sign to Exit Your Position?
2024 Jul 05, 11:48am | 973Visa Inc. (NYSE: V) is currently trading below its 50-day simple moving average, with the stock priced at $268.99 compared to the 50-day SMA of $273.31, representing a downtrend. The 50-day SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price...
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June Jobs Figures Beat Expectations But Unemployment Rate Rises With Slower Wage Growth - A Mixed Bag For Interest Rates
2024 Jul 05, 8:43am | 467The official June labor market report for the United States indicates mixed conditions, showing robust employment growth but a slowdown in wage increases, which may support expectations for upcoming interest rate cuts. In June, the U.S. economy added 206,000 new jobs, a reduction from the...
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Wall Street On 'Wait-And-Watch' Mode Ahead Of Jobs Data, Bitcoin Plummets, Tesla Extends Climb: Analyst Flags 2 Factors That Pose Risk To Rally
2024 Jul 05, 7:28am | 1154U.S. index futures are trading in a listless manner, as traders look ahead to the all-important monthly non-farm payrolls data. ADP’s private payrolls survey showed that job gains slowed more than expected. In the eventuality of the number coming in line or softer than expected, the market...
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Fed Minutes: Policymakers Are Not In Rush To Cut Interest Rates, Decision Hinges On Economic Data
2024 Jul 03, 2:25pm | 767Minutes from June’s Federal Open Market Committee (FOMC) meeting that were released Wednesday indicate that policymakers are not eager to cut interest rates until additional data confirms that inflation is moving sustainably toward the committee's 2% target. FOMC On Inflation Data, Economic...
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First Foundation Stock Plunges After $228M Fundraise: Regional Bank Has Heavy Commercial Real Estate Exposure
2024 Jul 03, 1:25pm | 653Shares of First Foundation Inc. (NYSE:FFWM), a Texas-based regional bank facing commercial real-estate risks, dropped significantly on Wednesday after it received some badly needed help from a group of investors led by Fortress Investment Group. The stock closed at $6.58 a share on Tuesday but fell...
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S&P 500, Nasdaq 100 Climb To Record Highs As Data Fosters Rate Cut Optimism Ahead Of Fed Minutes; Gold, Bonds Rally: What's Driving Markets Wednesday?
2024 Jul 03, 1:04pm | 923The S&P 500 and Nasdaq 100 indices surged to new all-time highs on Thursday, as investors heightened their expectations for rate cuts following June’s sharply lower-than-expected services sector activity, which experienced its worst contraction since May 2020. Market-implied odds of a...
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June Jobs Report Preview: Cooling Labor Market Trends May Further Bolster Rate Cut Hopes
2024 Jul 03, 11:56am | 956The U.S. labor market doesn’t appear as tight and hot as a couple of months ago, with the June’s Employment Situation report likely to show an overall cooling trend from a very strong performance in May. Slated for release Friday at 8:30 a.m. ET, the official jobs report from the...
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Private Employers Add 150,000 Jobs In June, Less Than Expected: Job Growth 'Solid, But Not Broad-Based'
2024 Jul 03, 8:27am | 514The pace of job creation in the U.S. private sector fell short of expectations in June, suggesting a slight easing in labor market conditions. Private employers in the U.S. added 150,000 jobs last month, a decrease from upwardly the revised 157,000 jobs in May and below the forecasted 161,000 jobs...
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Nasdaq, S&P 500 Futures Flat Ahead Of Jobs, Services Sector Data; Tesla Rises: Analyst Sees Further Gains For US Stocks
2024 Jul 03, 7:29am | 1249Trading in the index futures reflects cautious optimism among traders following the market’s record run. Wednesday’s session is abbreviated, with the stock market closing at 1 p.m. EDT, owing to the Independence Day holiday on Thursday. Volume could be anemic, which is typical of a pre-...
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RBC Calls Itself 'A Nervous And Jumpy Bull' As It Raises S&P 500 Outlook
2024 Jul 02, 6:10pm | 740RBC Capital Markets raised its outlook on the S&P 500 Index for the second half of this year, but it is doing so with trepidation. The investment bank lifted its 2024 price target for the S&P 500 from 5,300 to 5,700, calling the move “a nervous raise” on Tuesday. “The...
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Goldman Sachs: 10 Reasons Why Stock Risks Rise In The Second Half Of 2024
2024 Jul 02, 3:56pm | 795The U.S. stock market enjoyed an impressive performance throughout the first half of the year — the 21st best since 1900. As we move into the second half of 2024, equity investors face greater risks, according to a Goldman Sachs note issued Tuesday. Below are 10 reasons why equity analyst Peter...
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Stocks Hold Steady As Powell Reassures On Disinflation Path, Warns About Debt Risks; Tesla Rallies, Job Openings Spike: What's Driving Markets Tuesday?
2024 Jul 02, 1:41pm | 811U.S. equities were little moved on Tuesday as investors continued to assess the potential for interest rate cuts following the latest economic data and comments from Fed Chair Jerome Powell. Speaking at the European Central Bank (ECB) forum in Portugal, Powell welcomed recent progress on...
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Truist Declares SCB, Rewards Shareholders With Buyback Plan
2024 Jul 02, 1:28pm | 501Per the Federal Reserve, following the clearance of the 2024 annual stress test, Truist Financial Corporation's (NYSE: TFC) preliminary stress capital buffer (SCB) requirement is 2.8%. This excludes the impact of the sale of Truist Insurance Holdings and the balance sheet repositioning that...