longcast
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Interesting comments, for sure.
The stock market
- Thread starter movetheboat
- Start date
longcast
Well-Known Angler
Maersk warns of major disruption as diverts ships away from Red Sea
COPENHAGEN (Reuters) -Container shipping giant Maersk is diverting all vessels from Red Sea routes around Africa's Cape of Good Hope for the foreseeable future, it said on Friday, warning customers to prepare for significant disruption. Shippers across the world are switching away from the Red...
wader
Well-Known Angler
The US labor market just had one of its best years of the decade. 5 charts tell the story.
A year many economists expected to end in recession instead resulted in one of the most robust years for the US economy in the past decade.
longcast
Well-Known Angler
The US labor market just had one of its best years of the decade. 5 charts tell the story.
A year many economists expected to end in recession instead resulted in one of the most robust years for the US economy in the past decade.www.yahoo.com
US economy adds 216K jobs in December, beating expectations
The December jobs report released Friday provided a key look at the labor market's health as it continues to confront high interest rates and inflation.
www.foxbusiness.com
The report also contained sizable downward revisions to job growth during the previous two months. Gains for October and November were revised down by a total of 71,000 jobs to a respective 105,000 and 173,000, the government said, suggesting that the labor market is weaker than it previously appeared.
Job gains were mostly concentrated in a handful of sectors last month, with the biggest gains in government (52,000), leisure and hospitality (40,000) and health care (37,700). Hiring in construction also trended upward.
Those gains helped to offset job losses in transportation and warehousing, the result of a steep drop in the number of couriers and messengers.
longcast
Well-Known Angler
The US labor market just had one of its best years of the decade. 5 charts tell the story.
A year many economists expected to end in recession instead resulted in one of the most robust years for the US economy in the past decade.
Initial US employment reports overstated by 439,000 jobs in 2023
Increased government spending and hiring have padded 2023 year-end unemployment numbers by over 400,000, according to the Bureau of Labor Statistics.
www.foxbusiness.com
The government quietly erased 439,000 jobs through November 2023, a closer look at the numbers from the Bureau of Labor Statistics shows.
That means its initial jobs results were inflated by 439,000 positions, and the job market is not as healthy as the government suggests.
Again, the government sector in December ranked high in job creation. It created 52,000 jobs in the final month of 2023. As FOX Business's Edward Lawrence points out, that brings the three-month average of jobs created by the government sector to 50,000 per month. Lawrence says Acting Labor Secretary Julie Su "would not answer if this is sustainable when I pressed her."
Private sector job creation also was adjusted lower by 358,000 in that period, while government payrolls were revised by an increase of 52,000.
The president, too, has been accused of taking too much credit for the job numbers. He claimed he created 13 million to 14 million jobs. But economists and market analysts have pointed out those were jobs the U.S. economy clawed back after pandemic shutdowns erased 22 million jobs.
In reality, the economy under President Biden "added back" all the jobs lost in the pandemic and has "created" 4.86 million jobs since February 2020. That’s a ho-hum result.
As Edward Lawrence reports, the December jobs report shows 683,000 workers dropped out of the labor force. A record high 8.69 million people now hold multiple jobs to make ends meet. The economy lost 1.5 million full-time workers since June of last year, while adding 796,000 part-time workers.
That means more workers are holding down multiple jobs to pay for a higher cost of living due to a cumulative 17.4% inflation rate under this White House.
longcast
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Stock market news today: Nasdaq surges, Dow lags on Boeing plunge
Stocks rallied on Monday as Wall Street awaits the start of fourth quarter earnings reports.
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'This accident does not alter our positive view on Boeing': Wall Street reacts to Boeing's plunge after FAA grounds 737 MAX jets
Wall Street strategists don't believe an incident last week in which a piece of fuselage flew off a Boeing plane will be a long-term headwind for the stock despite the company's shares plunging Monday.
longcast
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Stocks. Bonds Tick Lower as Tech-Led Gains Fade: Markets Wrap
(Bloomberg) -- Stocks and bonds retreated before key inflation readings from the US and China later this week and the earnings season kicks off on Friday. Most Read from BloombergBoeing Slumps After Panel Blowout Leads to Partial 737 GroundingMusk’s Drug Use Concerns Tesla, SpaceX Leaders, WSJ...
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LARRY KUDLOW: The Biden admin needs to check all their badly managed operations
Fox Business host Larry Kudlow calls on the Biden administration to "check all their badly managed operations" on Monday's "Kudlow."
www.foxbusiness.com
Joe Biden can blather on as much as he wants about Republican insurrectionism that never existed. I'm going to vote that the voting public could care less about what was essentially a protest rally that went bad three years ago.
longcast
Well-Known Angler
US economy starting to look 'more like the 1970s,' JPMorgan Chase's Jamie Dimon says
JPMorgan Chase CEO Jamie Dimon expresses concerns over whether Americans are ready for a 70s stagflation state with high inflation and zero economic growth.
www.foxbusiness.com
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SEC says 'unauthorized' message about bitcoin ETF approvals not accurate
SEC Chair Gary Gensler said that a message on X claiming the regulator had granted approvals for bitcoin ETFs was "unauthorized" and inaccurate.
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All 737-Max 9 jets to remain grounded until Boeing sends new instructions, FAA says
Boeing’s efforts to get its grounded 737–9 Max back in service hit a snag after the Federal Aviation Administration deemed its remediation efforts lacking.
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Hewlett Packard Enterprise to buy Juniper Networks in $14 billion deal
HPE offered $40 per share to Juniper shareholders, the companies said on Tuesday. The acquisition comes at a time when the AI gold rush has led companies to pour billions of dollars into upgrading and developing new wares and is expected to double HPE's networking business. HPE, grappling with...
longcast
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Stock market news today: US stocks slide as inflation jumps more than expected
Stocks fell into negative territory after the latest inflation report showed prices increases aren't falling as quickly as expected.
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Inflation increases more than expected in December
The December Consumer Price Index report will put the market's soft-landing narrative to the test on Thursday.
Other indexes that rose in December included motor vehicle insurance, which rose 20.3% compared to last year, the biggest gain since 1976, per Bloomberg.
Egg prices increased a sizable 8.9% month over month after rising 2.2% in November.
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Wall Street firms block client access to new spot Bitcoin ETFs
Large Wall Street firms are blocking retail investors from accessing the new “spot" Bitcoin ETFs recently approved by the SEC, FOX Business has learned.
www.foxbusiness.com
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Google lays off hundreds of workers
Google is cutting hundreds of roles within its voice assistant, augmented reality hardware and central engineering teams as it invests in its biggest priorities.
www.foxbusiness.com
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Mortgage rates rise for second consecutive week
Mortgage rates climbed for the second consecutive week, remaining in the mid-six percent range. The housing market has seen some increase in demand but remains largely stagnant.
www.foxbusiness.com
longcast
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Stock market today: Stocks edge up as earnings season kicks off, wholesale inflation cools
Wall Street lenders kicked off fourth-quarter earnings, seen as a crucial chance for stocks to shake off the losses built in the year so far.
longcast
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JPMorgan rises above rivals with record annual profit of $49 billion
The largest lender in the US earned $49 billion in 2023, the most ever in the history of American banking
The largest lender in the US reported Friday that it raked in a record $49.6 billion in annual net income, the most ever in the history of the American banking industry. And it happened during a year that was the scariest for the industry since the financial crisis of 2008.
That result — buoyed by better loan margins and the acquisition of failed regional lender First Republic — was 31% better than its bottom line in 2022.
"We remain confident in our ability to continue to deliver very healthy returns," CEO Jamie Dimon said in a release, while also noting that government spending "may lead inflation to be stickier and rates to be higher than markets expect."
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