Tag: Economy

2024-08-15

Trump economy speech Harris attacks

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Business

Republican presidential nominee former President Donald Trump speaks at a campaign event at Harrah’s Cherokee Center on August 14, 2024 in Asheville, North Carolina.  Grant Baldwin | Getty Images Republican presidential nominee Donald Trump attempted to paint a bleak picture of the U.S. economy Wednesday and pin it on his Democratic rival, Vice President Kamala Harris. But Trump frequently…

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2024-08-11

Stocks making the biggest moves after hours: PARA, EXPE, ELF

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Check out the companies making headlines in after-hours trading. Paramount Global — The media company jumped 5.7% after posting a massive earnings beat for the second quarter, reporting earnings of 54 cents per share while analysts polled by LSEG called for 12 cents per share. Paramount’s revenue of $6.81 billion for the period fell short of the estimated $7.21…

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2024-08-10

Trump says he should get a say on Federal Reserve interest rate decisions

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Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida.  Joe Raedle | Getty Images Republican presidential nominee Donald Trump on Thursday said that he should have a voice when the Federal Reserve makes its decisions on interest rates. “I feel the president should have…

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2024-08-09

JPMorgan raises 2024 recession odds to 35%

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JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in a Wednesday note. That’s…

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2024-08-09

Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market

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Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits came to a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the Labor Department said Thursday….

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2024-08-08

Jamie Dimon still sees a recession ahead

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JPMorgan Chase CEO Jamie Dimon said Wednesday he still believes that the odds of a “soft landing” for the U.S. economy are around 35% to 40%, making recession the most likely scenario in his mind. When CNBC’s Leslie Picker asked Dimon if he had changed his view from February that markets were too optimistic on recession risks, he said…

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2024-08-06

San Francisco Fed President Daly sees interest rate cuts coming as labor market weakens

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Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024.  Graeme Sloan | Bloomberg | Getty Images San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year…

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2024-08-05

Tech stocks see steep three-week slump, led by Amazon, Intel

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Signage outside the Nasdaq MarketSite in New York on March 23, 2023. Stephanie Keith | Bloomberg | Getty Images With quarterly earnings from tech’s mega-cap companies largely in the rearview mirror, one thing is clear: Wall Street is nervous. The Nasdaq Composite slumped 3.4% this week, bringing its three-week slide to 8.8%. That’s the worst performance for the tech-heavy…

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2024-08-04

Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

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Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged…

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