Fall
The stock market will fall 13% to a new low for the year after a hot jobs report means inflation will linger and the Fed will keep tightening, Bank of America says
2 days ago | By Business Insider
Traders work the floor of the New York Stock Exchange David Dee Delgado/Getty Images The stock market is poised to hit new lows later this year following July's hot job report, Bank of America said in a Friday note. That's because inflation is likely to linger and the Fed will be forced to continue tightening financial conditions. "Still think end-game SPX is 3,600," BofA said, which represents 13% downside potential. The stock market is poised to hit a new low in 2022 as good news is now bad news when it comes to investors processing economic data, according to Bank of America's Michael...
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Jobs data could fuel recession fears and signal a pivot in sentiment. This is what you should watch for
2 days ago | By Business Insider
Happy Jobs Day, market watchers. Today's report will be a pivotal data point in the recession conversation, second only to the upcoming consumer inflation reading due out next Wednesday. I'm Phil Rosen, sitting on the edge of my seat for 8:30 a.m. ET when July's nonfarm payrolls report comes out. This morning's announcement will bring more clarity as to whether the US is in fact in an actual recession, following last week's data that revealed that the economy has met the technical definition of the term. And that, my friends, holds serious implications for sentiment across the world...
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The US added 528,000 jobs in July, showing a booming labor market despite recession fears
2 days ago | By Business Insider
A "now hiring" sign is displayed in a window in Manhattan on July 28, 2022 in New York City. Spencer Platt/Getty Images
The US added 528,000 jobs in July, exceeding the median estimate of 250,000 new payrolls.
The unemployment rate fell to 3.5%, landing below the 3.6% forecast.
The report shows job creation rebounding despite rising interest rates and slower growth.
Job creation surged past economists' forecasts in July as the labor market's strength overpowered higher interest rates and elevated inflation. The US economy added 528,000 nonfarm payrolls last month, the Bureau of Labor...
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Melbourne 's events calendar will soon be overflowing thanks to support for the events industry announced today. The Minister for Industry Support and Recovery Ben Carroll and... Read more ...
Trump attacks Mitch McConnell after Senate passes landmark climate and...
Senate Minority Leader Mitch McConnell in the Capitol on August 3, 2022. AP Photo/J. Scott Applewhite Senate Democrats passed the party's big climate, tax and healthcare... Read more ...
Global stocks edge up after jobs data soothes concerns over the US economy...
Investors are mulling Friday's jobs report, which showed the US labor market is still booming. Mark Lennihan/Getty Images Global stocks and US futures rose Monday after... Read more ...
Hilton's global headquarters to open with 350 additional jobs
Hilton is expanding their headquarters and it will require 350 additional posts. Governor Glenn Youngkin has announced that Hilton will continue having headquarters in Fairfax... Read more ...
Malaysia Aviation Group partners with Kenny Loh
Malaysia Aviation Group partners with Kenny Loh, an inspiring local designer to launch a limited-edition beaded shoe collection in George Town today, in preserving the... Read more ...
The disgraced founder of Papa Johns says the company is making worse pizzas...
John Schnatter. REUTERS/Danny Moloshok John Schnatter says Papa Johns pizza has gotten worse without his "conservative values." Schnatter suggested that "truth and God" made... Read more ...
In a growing schism in the GOP, Matt Gaetz slammed Kevin McCarthy at CPAC...
Rep. Matt Gaetz said Kevin McCarthy "should not be the leader of the Republican Congress" if he stands for the "bureaucratic permanent state." Lev Radin/Pacific... Read more ...
Qantas asks 100 executives and managers to volunteer as full-time baggage...
Qantas is struggling to deal with a rebound in travel demand as pandemic curbs ease. Hu Jingchen/Xinhua/Getty Images Australia's Qantas Airways has asked senior office staff to... Read more ...
The airline lost my luggage for 12 days. Am I entitled to restitution?
“If we're unable to find your bag after five days, you may be eligible for $1,500 for the value of your baggage and its contents without requiring any documentation.” Read more ...
Remote work is causing a massive shift in salaries around the country
Good morning, techies. If you're living somewhere in between New York City and San Francisco , you may see a massive shift in how you get paid - especially if you're a tech... Read more ...