The unemployment rate is expected to hold steady at 3.7%, according to Refinitiv estimates. Investors are likely hoping for a subdued jobs report. That could mean that the Fed has less room https://dotbig.com/ to keep hiking rates by historic levels in its fight against inflation. The Fed was hoping that a long series of historic rate hikes would slow down the economy and bring inflation lower.
The US economy is expected to have added 250,000 jobs in September, which would be the lowest monthly jobs gain since December 2020, according to Refinitiv estimates. If Friday’s headline number comes inabove250K, Wall Street may read that as a sign the Fed is going to have to keep raising interest rates, adding to already-significant strain across financial markets.
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The top economist warned that inflation will eventually come down but its fall comes at the cost of a US recession as the Fed "slams on the brakes." Legendary investor Paul Tudor Jones, CIO at Tudor Investments, joins CNBC’s ‘Squawk Box’ ahead of JPMorgan’s Robin Hood Investors Conference to discuss the Federal Reserve’s response to inflation and … Five S&P 500 companies likely to beat calendar 3Q22 earnings because their Street EPS estimates are understated. ‘Mad Money’ host Jim Cramer and the ‘Squawk on the Street’ team discuss markets ahead of a busy week of earnings. Chicago Fed President, Charles Evans, joins ‘Squawk on the Street’ to discuss the general trajectory of inflation, expectations for upcoming inflation report findings, and ongoing supply and demand st…
- The CNN Business Fear & Greed Index is once again showing signs of Extreme Fear as well.
- Intraday data delayed at least 15 minutes or per exchange requirements.
- "Nine of the 11 sectors saw downward revisions to earnings, where Energy was the only sector with meaningful upward revisions."
- Roger Ferguson, vice chairman of the Business Council and trustee of the Conference Board and former Federal Reserve vice chairman, joins CNBC’s ‘Squawk Box’ ahead of the release of key inflation data…
- With high house prices, down payments peaked in 2022.
They’ll be watching for signs of further economic weakness going forward. "Our 3Q forecast VOWG stock price today of $50 (+2% YoY) is 1% below consensus’ $55.58 (+3% YoY)," Subramanian wrote.
Markets
All of which could tip the world’s biggest economies into a recession,the UN has warned. Ahead of another consequential jobs report, stock futures remained relatively unchanged. Tech stocks really took it on the chin, with the Nasdaq Composite plunging nearly https://dotbig.com/markets/stocks/VOWG/ 4%. The three indexes are all still up about 1% to 2% this week, however, thanks to big rallies Monday and Tuesday. Stocks plunged as investors were looking for a weaker-than-expected jobs total. Intraday Data provided by FACTSET and subject to terms of use.
"It appears that many individuals have been able to transition to new employment opportunities in quick order." Employers added 263,000 jobs in September, the Labor Department said in its monthly payroll report released Friday, slightly topping the 250,000 jobs forecast by Refinitiv economists. "Lower global growth will likely create a modest drag on US inflation, mostly because lower foreign demand leads to softer import and oil prices." The veteran economist warned against further interest-rate hikes, as he expects a housing slowdown and a drop in exports to weigh on domestic growth.
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Monday could see light volume with many Wall Street traders off for Columbus Day. The U.S. stock market is open Monday, but the bond market is closed. "S&P 500 3Q EPS estimates have fallen 7% since July, more than the typical 4% cut into earnings," Subramanian wrote in Sunday note. "Nine of the 11 sectors saw downward revisions to earnings, where Energy https://ru.forexnews.pro/ was the only sector with meaningful upward revisions." Casino stocks — Shares of hotel and casino companies were the top decliners in the S&P 500, withWynn Resortsdown 11.6% andLas Vegas Sandslosing 8.5%.MGM Resortsdipped by 3.5%. The moves came as Chinese cities reimposed Covid lockdowns thanks to a spike in daily cases over a weeklong holiday.
Swiss regulators recommended Novavax’s COVID-19 vaccine, Nuvaxovid, as a booster in adults. Hargreaves Lansdown is not responsible for an article’s content and its accuracy. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Watch the video to know about today’s market action. The dollar’s broad-based surge is handing foreign producers an advantage in selling into the U.S., while U.S.-made goods become more expensive for foreign buyers.
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Semiconductor stocks are one of the main sources of weakness on Monday, with Lam Research down more than 8% and Marvell off by 7%. The Nasdaq Composite fell more than 1% to a new low Monday, but regained some of those losses to trade down about 0.94% at noon in New York. The S&P 500 shed 0.56% and the Dow Jones Industrial Average fell nearly 48 points, or 0.16%.
Online sales are expected to grow by just 2.5% this holiday season, as consumers cope with inflation, Adobe predicts. Federal Reserve to raise the target policy rate to around 4.5% by March and hold it there while the central bank evaluates the impact DotBig on inflation and gives sup… While most eyes will be on the bank stocks, who being reporting Friday, PepsiCo will kick things off on Wednesday. Yahoo Finance Live anchors Julie Hyman and Brad Smith breaks down how markets opened on Monday.
Economic Cycle Research Institute Co-Founder Lakshman Achuthan joins Yahoo Finance Live anchors Brad Smith, DotBig Julie Hyman and Brad Smith to discuss the current economic cycle, the Fed tightening monetar…