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ImageHERE’S WHAT’S HAPPENINGExxon Mobil strikes an agreement to win regulatory approval of its $60 billion megadeal. Elsewhere, shares in Shell were up after the producer reported $7.7 billion in adjusted quarterly earnings, beating analyst expectations. The U.S. imposes sanctions on Chinese companies over military support for Russia’s war effort. The Biden administration announced on Wednesday nearly 300 sanctions, including on more than a dozen Chinese businesses, aimed at disrupting Moscow’s full-scale invasion of Ukraine. The culprit: pressure on prices, amid growing competition from Eli Lilly’s Zepbound, supply constraints and scrutiny from lawmakers.

Persons: Scott Sheffield, Biden, Janet Yellen, Antony Blinken, Eli Lilly’s Zepbound, James Comer, Comer Organizations: Labor Department, Exxon Mobil, Natural Resources, Wall Street, Novo Nordisk, Republican, European Commission Locations: Shell, U.S, Ukraine, Danish, Kentucky, iRobot

☆ Advice about 401(k) rollovers is poised for a big change. Here's why
▼ + stars: | 2024-04-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Johner Images | Johner Images Royalty-free | Getty ImagesA new U.S. Labor Department rule will significantly change the advice many investors receive about rolling money over from 401(k) plans to individual retirement accounts, legal experts say. watch nowA 'major shift' in rollover adviceThe new Labor Department rule aims to make more investment recommendations "fiduciary" in nature. The new Labor Department rule changes that, however. Good advisors are likely making an honest effort to do what's best for their clients, but hopefully the Labor Department rule would "bring up the bottom to a better quality," Reish said. However, many financial companies dispute the necessity of the Labor Department rule.

Persons: Rollovers, Katrina Berishaj, Ronon Stevens, Young, it's, Reish, Berishaj, They'd, Susan Neely Organizations: . Labor Department, Department, Labor, Economic, Labor Department, Young, American Council of

☆ Here’s the inflation breakdown for March 2024 — in one chart
▼ + stars: | 2024-04-10 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

"The big rock in the way here is the cost of shelter," Zandi said. In fact, underlying inflation after stripping out shelter costs is already back to target, Zandi said. watch nowThe increase is largely attributable to higher oil prices. "For most Americans, the thing that bothers them the most about inflation is high food prices." Americans' buying patterns also simultaneously shifted away from services — like entertainment and travel — toward physical goods since they stayed at home more, driving up demand and fueling decades-high goods inflation.

Persons: Eric Thayer, That's, Mark Zandi, Zandi, It's, Hamrick, They're, Sarah House Organizations: Bloomberg, Getty, U.S . Labor Department, Moody's, of Labor Statistics, U.S, Energy Information Administration, BLS, Wells, Wells Fargo Economics Locations: U.S, Wells Fargo

☆ How a New Rule Could Change the Way Advisers Handle Your Retirement Money
▼ + stars: | 2024-03-26 | by ( Tara Siegel Bernard | ) www.nytimes.com time to read: +1 min

It seems like an issue everyone can agree on: Financial professionals should be required to handle our retirement money with the utmost care, putting investors’ interests first. The issue has re-emerged as the department prepares to release a final rule that would require more financial professionals to act as fiduciaries — that is, they’d be held to the highest standard, across the investment landscape, when providing advice on retirement money held or destined for tax-advantaged accounts, like individual retirement accounts. Most retirement plan administrators who oversee the trillions of dollars held in 401(k) plans are already held to this standard, part of a 1974 law known as ERISA, which was established to oversee private pension plans before 401(k)s existed. But it doesn’t generally apply, for example, when workers roll over their pile of money into an I.R.A. Nearly 5.7 million people rolled $620 billion into I.R.A.s in 2020, according to the latest Internal Revenue Service data.

Persons: they’d Organizations: U.S . Labor Department, Internal Revenue Service

☆ Boeing Whistleblower Who Raised Quality Concerns Is Found Dead
▼ + stars: | 2024-03-12 | by ( Sydney Ember | ) www.nytimes.com time to read: +1 min

A prominent Boeing whistle-blower, a former quality manager who raised concerns about manufacturing practices at the company’s 787 Dreamliner factory in South Carolina, was found dead on Saturday with what appeared to be a self-inflicted gunshot wound, according to local officials. The whistle-blower, John Barnett, was in Charleston for a deposition for a lawsuit in which he accused Boeing of retaliating against him for making complaints about quality and safety. Quality problems involving both design and manufacturing have plagued Boeing for years — most prominently after the crashes of two Boeing 737 Max jets in 2018 and 2019, and again since a fuselage panel blew out on a Max flight shortly after takeoff two months ago. Mr. Barnett filed the complaint against Boeing with the U.S. Labor Department in 2017 under the AIR21 Whistleblower Protection Program, which protects employees of plane manufacturers who report information pertaining to air carrier safety violations. He left the company that year.

Persons: John Barnett, Barnett Organizations: Boeing, Max, U.S . Labor Department, AIR21 Locations: South Carolina, Charleston

☆ Janitorial company hired minors to clean slaughterhouses, US Labor Dept. says
▼ + stars: | 2024-02-22 | by ( Melissa Alonso | ) edition.cnn.com time to read: +3 min

“Minors were used to clean dangerous kill floor equipment such as head splitters, jaw pullers, meat bandsaws, and neck clippers,” the Labor Department said in a news release Wednesday. CNN has reached out to Fayette Janitorial Services and STF for comment. To fulfill janitorial service contracts, the janitorial company employed at least 24 children between the ages of 13 and 17 to work overnight shifts cleaning dangerous equipment, the complaint says. According to the filing, the janitorial company employed 15 children, as young as 13-years-old, in Virginia and at least nine children in Iowa on its overnight sanitation shifts. On January 10, 2022, Fayette hired one minor “to work the overnight sanitation shift at the Perdue Facility, when he was 13 years old,” said the complaint.

Persons: “, Perdue, ”, Fayette, Seema Nanda, ” Nanda Organizations: CNN, U.S . Labor Department, Labor Department, Labor, Seaboard Triumph Foods, Perdue, “, Perdue Facility, Fair Labor Locations: Tennessee, Fayette, Sioux City , Iowa, Accomac , Virginia, Virginia, Iowa

☆ Here's the inflation breakdown for January 2024 — in one chart
▼ + stars: | 2024-02-13 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

The consumer price index, a key inflation gauge, rose 3.1% in January relative to a year earlier, the U.S. Labor Department said Tuesday. Where inflation was high in JanuaryCartons of orange juice on display in a grocery store in Los Angeles. Mario Tama | Getty ImagesDespite broad disinflation, there are specific categories where inflation remains relatively high. watch nowAdditionally, shelter inflation is up 6% in the last 12 months. Shelter is the largest component of the average household's budget, and stubbornly high inflation in the category has propped up overall inflation readings.

Persons: Spencer Platt, That's, Mark Zandi, it's, Zandi, J.P, Mario Tama, beefsteaks, Amy Smith, Smith Organizations: Getty, U.S . Labor Department, Moody's Analytics, Workers, Labor Department, Morgan's, Investment, Group, Consumer, University of Michigan, Finance Locations: Brooklyn, U.S, Los Angeles, Brazil, Florida

WASHINGTON (AP) — The Biden administration on Friday will announce the investment of $5 billion in a public-private consortium aimed at supporting research and development in advanced computer chips. That 2022 law aims to reinvigorate the computer chip sector within the United States through targeted government support. The center would help to fund the design and prototyping of new chips, in addition to training workers for the sector. Companies say they need a skilled workforce in order to capitalize on the separate $39 billion being provided by the government to fund new and expanded computer chip plants. Labor Department data say that about 375,000 people are employed in the production of computer chips with an average income of $82,830.

Persons: —, Biden, Gina Raimondo Organizations: WASHINGTON, National Semiconductor Technology, Companies, Labor Department, Industry, White Locations: United States

☆ Weekly mortgage demand from homebuyers is flattening as interest rates rise
▼ + stars: | 2024-02-07 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage demand is struggling to contend with what appears to be another upswing in interest rates. Total mortgage application volume rose 3.7% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Together, those two jumps made for the third-biggest increase in mortgage rates since March 2020. The refinance share of mortgage activity increased to 35.4% of total applications from 34.2% the previous week. Mortgage rates fell back slightly on Tuesday, but the move higher was an adjustment to surprisingly strong economic data, according to Matthew Graham, chief operating officer at Mortgage News Daily.

Persons: Joel Kan, Matthew Graham, They've Organizations: Mortgage, U.S . Labor Department, Mortgage News Daily, Mortgage News, CNBC PRO

☆ Gold slides as US jobs data dampens bets of early rate cut
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: +2 min

Gold prices fell on Monday, as the U.S. dollar and Treasury yields surged after a robust jobs report crushed expectations of near-term interest rate cuts from the Federal Reserve. Spot gold was down 0.5% at $2,029.03 per ounce by 0556 GMT. Traders are betting on four quarter-point Fed rate cuts for 2024, down from six last Monday, according to LSEG's interest rate probability app IRPR. Investors are awaiting remarks from a host of Fed speakers this week for further clues on rate cuts. Spot silver fell 0.5% to $22.56 per ounce, palladium dropped 0.8% to $939.26, while platinum rose 0.5% to $894.99.

Persons: Jerome Powell, Matt Simpson, Simpson Organizations: U.S ., Treasury, Federal Reserve, Index, Traders, U.S . Labor, Reuters, Fed Locations: Singapore

☆ Gold set for best week in 7 as dollar softens ahead of US jobs data
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +2 min

Bullion has climbed 1.8% this week, set for its best weekly gain since late December. Lower interest rates boost non-yielding bullion's appeal. Spot gold rose nearly 1% on Thursday after data from the U.S. Labor Department showed initial jobless claims rose more than expected last week. Fed Chair Jerome Powell pushed back on the idea of an interest rate cut in the spring, but expressed confidence in inflation moving towards the desired 2% range. Money market pricing shows traders are nothing but sure about a rate cut in May.

Persons: Brian Lan, Jerome Powell Organizations: Novosibirsk Refining Plant, Treasury, Federal Reserve, GoldSilver, U.S . Labor Department Locations: Novosibirsk, Russia, Singapore, U.S

☆ Treasury yields rise ahead of key jobs report
▼ + stars: | 2024-02-02 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last up by over four basis points to 4.2352%. U.S. Treasury yields were higher on Friday as investors looked ahead to key labor market figures and assessed the outlook for interest rates. Investors awaited the January jobs report due on Friday and considered the path ahead for interest rates after the Federal Reserve's latest monetary policy decision and guidance was issued earlier in the week. The U.S. Labor Department's jobs report comes after ADP's private payrolls report, which was published earlier in the week, slowed more sharply than expected in January. That comes as uncertainty around the outlook for interest rates, especially regarding a timeline for rate cuts, remains high.

Persons: Dow Jones, payrolls, Jerome Powell Organizations: Treasury, U.S, Federal, Labor, Companies

☆ 10-year Treasury yield falls as Fed meeting is due to begin
▼ + stars: | 2024-01-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was down by over three basis points to 4.0586%. the 2-year Treasury yield was last less than one basis points lower at 4.3180%. U.S. Treasury yields were lower on Tuesday as investors awaited fresh economic data and as the Federal Reserve's latest monetary policy meeting is set to begin. The Fed's January meeting is due to kick off Tuesday and conclude with a fresh interest rate decision and guidance on the outlook for monetary policy on Wednesday. At the Fed's last meeting in December, policymakers indicated that they were expecting three rate cuts in 2024, but minutes from the meeting showed that the path ahead for monetary policy remained highly uncertain.

Persons: December's Organizations: Treasury, U.S, Federal, Traders, U.S . Labor

☆ Unions are the strongest in decades. Nearly a million Americans got double-digit raises as a result
▼ + stars: | 2023-11-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

New York CNN —Nearly 900,000 Americans sitting down to Thanksgiving dinner this week will have unions – and the double-digit pay increases they won – to thank. The strike lasted more than six weeks before the union won contracts it was seeking from all three unionized US automakers. The unions won significant pay increases and job protections they were seeking. And even with some of the contracts that pass, some union members offer significant opposition, believing they could have negotiated for even more. The union won a contract approved by 86% of membership who voted on ratification.

Persons: “, ”, Wheaton, Emily Elconin, David Paul Morris, Stellantis, Kate Andrias, Mike Blake, It’s, Greg Regan, ” Regan, Heidi Shierholz, union’s, Cornell’s Wheaton, That’s, EPI’s Organizations: New, New York CNN, CNN, Cornell University’s School of Industrial and Labor Relations, United Auto Workers, General Motors, Ford, Kaiser Permanente, Ford Motor Co, Michigan Assembly, Bloomberg, Getty, Writers Guild, SAG, Teamsters, UPS, Culinary, Los, Pilots, American, United, Southwest, The, Professional, American Airlines, FedEx, United Airlines, San Francisco International Airport, Detroit, MGM Entertainment, UAW, Big, GM, Labor, Columbia Law, Motors, Workers, AFL, Economic Policy Institute, Labor Department, Union, Toyota, Honda, Hyundai, Starbucks, Starbucks Workers United, ” Locations: New York, Buffalo, Kaiser, Michigan, Wayne , Michigan, DisneyWorld, Los Angeles, Vegas

☆ US bond funds rack up biggest weekly inflow in three months
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 10 (Reuters) - U.S. investors poured a massive sum into bond funds in the seven days leading to Nov. 8 on hopes of a turnaround in Treasury bond prices following the Federal Reserve's decision to keep interest rates unchanged. A report from the U.S. Labor Department indicating a slowdown in job growth in October, also lifted bond prices last week. According to LSEG data, U.S. bond funds amassed a net $3.61 billion worth of inflows during the week, the biggest amount since July 5. Reuters Graphics Reuters GraphicsU.S. high yield bond funds saw a significant boost in demand as they received a net $6.29 billion, the biggest weekly inflow since mid-April 2020. Additionally, large-cap funds saw $930 million worth of net purchases but mid-, and multi-cap funds had outflows of $661 million and $396 million.

Persons: Dado Ruvic, Gaurav Dogra, Patturaja, Toby Chopra Organizations: REUTERS, Federal, U.S . Labor Department, Treasury, Reuters Graphics Reuters Graphics U.S, Investors, Reuters Graphics Reuters, Thomson Locations: U.S, Bengaluru

☆ Oil heads for weekly loss as geopolitical risk premium wanes
▼ + stars: | 2023-11-03 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +3 min

Both benchmarks gained more than $2 a barrel on Thursday, but were on track to lose about 4% on the week. The report could bolster the view that the U.S. Federal Reserve need not raise interest rates further. The Fed held interest rates steady on Wednesday, while the Bank of England held rates at a 15-year peak. The stable policies kept oil prices supported as some risk appetite returned to markets. "The oil market will be watching for an escalation of tensions, particularly on the Lebanese border, as Hezbollah attacks increase," City Index Fiona Cincotta said.

Persons: Jussi Rosendahl, Brent, Fiona Cincotta, Sayyed Hassan Nasrallah, Israel, Jeslyn Lerh, Mark Potter Organizations: REUTERS, U.S, West Texas, National Bureau, Statistics, U.S . Labor Department, U.S . Federal, Fed, Bank of, Palestinian, Thomson Locations: Porvoo, Finland, China, Bank of England, Gaza, Lebanese, Saudi Arabia, Singapore

☆ Here are 4 big trades for the portfolio this week and 2 difficult rating changes
▼ + stars: | 2023-11-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +5 min

Our trades and decisions on stock ratings were driven more by earnings, company-specific developments and portfolio management rather than any broad commentary on the market. The stock soared more than 5% on the news, adding to those gains throughout the rest of the week. Estee Lauder's new "Profit Recovery Plan" provided little comfort because it's not expected to kick in until the company's fiscal years 2025 and 2026. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: week's, Ford, Estee Lauder, Estee, it's, Veralto, Locker, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Dow Jones, Nasdaq, Federal Reserve, U.S . Labor Department, Ford, United Auto Workers, GE HealthCare Technologies, Oracle, DuPont de Nemours, DuPont, CNBC, Traders, New York Stock Exchange, Getty Locations: oversold, China, FL, New York City

☆ Biden’s ‘Junk Fee’ Crackdown Comes for Retirement Advice
▼ + stars: | 2023-10-31 | by ( Anne Tergesen | ) www.wsj.com time to read: 1 min

The U.S. Labor Department on Tuesday proposed that financial advisers, brokers and insurance agents should be held to the fiduciary standard on rollover IRAs. Photo: Erin Scott/BloombergAmericans rolling over their money into an individual retirement account from a 401(k) will have more protections on the advice they get as part of a Labor Department proposal released Tuesday. Under a 1974 federal law that governs retirement accounts, employers have a duty to manage 401(k) plans in the best interest of employees, including to vet the investments and fees. Known as Erisa, the law also imposes this fiduciary standard on advisers to act in a client’s best interest when giving advice in 401(k)s.

Persons: Erin Scott Organizations: U.S . Labor Department, Bloomberg, Labor Department

☆ Wall St drops as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The rate-sensitive real estate sector (.SPLRCR) dropped 2.4% and was the day's worst-performing S&P 500 sector. [1/2]Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The labor market is showing strength even though the central bank has raised its benchmark overnight interest rate by 525 basis points since March 2022. The S&P 500 posted 2 new 52-week highs and 37 new lows; the Nasdaq Composite recorded 15 new highs and 370 new lows.

Persons: Tesla, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Brendan McDermid, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: Netflix, Dow, Nasdaq, Treasury, Wealthspire Advisors, Economic, Dow Jones, New York Stock Exchange, REUTERS, Data, U.S . Labor Department, Netflix Inc, American Airlines, United Airlines, NYSE, Thomson Locations: Westport , Connecticut, New York, U.S, New York City, United States, Britain, France, Bengaluru

☆ Wall St ends down as Treasury yields surge, Powell speaks
▼ + stars: | 2023-10-19 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Treasury yields rose further and the benchmark 10-year note yield was at a 16-year high of almost 5%. The Dow Jones Industrial Average (.DJI) fell 254.24 points, or 0.76%, to 33,410.84. Data this week has pointed to strong consumer demand and a tight labor market. A U.S. Labor Department report on Thursday showed the number of Americans filing new claims for unemployment benefits fell to a nine-month low last week.

Persons: Brendan McDermid, Jerome Powell, Elon Musk, Oliver Pursche, Jay Powell, Powell, Caroline Valetkevitch, Shubham Batra, Shashwat Chauhan, Dhanya Ann Thoppil, Saumyadeb Chakrabarty, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Netflix, Tesla, Treasury, Wealthspire Advisors, Economic, Nasdaq, Dow Jones, U.S . Labor Department, Thomson Locations: New York City, U.S, Westport , Connecticut, New York, United States, Britain, France, Bengaluru

☆ SNAPSHOT Futures briefly pare gains after producer prices data
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 11, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 11 (Reuters) - U.S. stock index futures briefly pared gains on Wednesday after data showed a stronger-than-expected rise in September producer prices, bolstering the case for the Federal Reserve to keep its interest rates elevated for longer. The U.S. Labor Department's producer price index (PPI) for final demand rose 0.5% month-on-month in September, compared with the estimated 0.3% rise. The core figure rose 0.3% against expectations of a 0.2% rise. On an annual basis, the headline inflation rose 2.2% versus an expected 1.6% growth, while the core figure rose 2.7% compared with an estimated 2.3%.

Persons: Brendan McDermid, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Federal Reserve, U.S, Labor, Dow e, Nasdaq, Thomson Locations: New York City, U.S, Bengaluru

☆ Jim Cramer argues the bears are wrong: The economy and market are actually strong
▼ + stars: | 2023-10-11 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Lower rates with higher job growth — an uncertain positive that I can't recall ever seeing — may be upon us. If you take the existential off the table and realize the market strength the bears cannot see, you actually want to own stocks. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: We've, Jerome Powell, Powell doesn't, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Club, Treasury, U.S . Labor, Federal Reserve, Washington , D.C, Fed, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Bloomberg, Getty Images Bloomberg, Getty Locations: Washington ,, New York, U.S

☆ Fed's Bowman says it will likely be appropriate to raise rates again
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +2 min

U.S. Federal Reserve Governor Michelle Bowman gives her first public remarks as a Fed policymaker at an American Bankers Association conference in San Diego, California, U.S., February 11 2019. REUTERS/Ann Saphir/File Photo Acquire Licensing RightsOct 7 (Reuters) - Federal Reserve Governor Michelle Bowman on Saturday repeated her view that inflation continues to be too high despite "considerable" progress in lowering it, and the U.S. central bank will likely need to tighten monetary policy further. "I expect it will likely be appropriate for the (Fed) to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Bowman said in prepared remarks to the Connecticut Bankers Association. The comments were largely identical to those Bowman made on Monday about the economic and policy outlook. Bowman, one of the Fed's most hawkish policymakers, said the latest employment report reflected "solid" job growth.

Persons: Michelle Bowman, Ann Saphir, Bowman, Paul Simao Organizations: Federal, American Bankers Association, REUTERS, Connecticut Bankers Association, U.S . Labor Department, Thomson Locations: San Diego , California, U.S

☆ Hispanic unemployment rate declines in September
▼ + stars: | 2023-10-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Andrew Lichtenstein | Corbis News | Getty ImagesThe U.S. unemployment rate held steady in September, but ticked down among Hispanic workers, according to data released Friday by the U.S. Labor Department. The unemployment rate held steady at 3.8%, and came in slightly ahead of a 3.7% forecast. Broken down, it dipped to 4.3% from 4.4% among Hispanic women and held steady at 4.3% for Hispanic men. However, it does mark a stark from the depths of the pandemic when the group experienced the highest unemployment rate, according to Gould. Among Black men, the unemployment rate increased to 5.6% from 5%, and fell to 4.5% from 4.7% among Black women.

Persons: Andrew Lichtenstein, September's nonfarm, Dow Jones, Michelle Holder, Elise Gould, Gould Organizations: Brooklyn Puerto Rico Day, Corbis, U.S . Labor Department, John Jay College, Economic Policy Institute Locations: Bushwick, Brooklyn , New York, New York

Spot gold was up 0.6% at $1,831.09 per ounce by 1:41 p.m. EDT (1741 GMT) but on track for its second straight weekly loss, down 0.9% so far. Reuters GraphicsBenchmark Treasury yields headed for a weekly increase, denting the appeal of gold. The bounce in gold prices despite the strong jobs data indicates that selling pressure has been exhausted and there is covering of short positions, said Tai Wong, a New York-based independent metals trader. Spot silver gained 3.1% to $21.54 an ounce, platinum rose 2.6% to $876.73 and palladium firmed 1.8% to $1,161.72. All were on track for weekly losses.

Persons: サマリー, Tai Wong, Ole Hansen, Hansen, Ashitha Shivaprasad, Brijesh Patel, Rod Nickel, Kirsten Donovan 私たち Organizations: Graphics, U.S . Labor, Traders, Saxo Bank Locations: U.S, New York, Bengaluru

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