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When the government released September's job report Friday morning, the market's first take was that it was too good to be … good. And odds of another rate hike, which had edged up early in the day, had retreated again. "I don't think the week's data indicates the labor market needs higher interest rates," said Daniel Zhao, lead economist at career platform Glassdoor.com. But average hourly income rose just 0.2%, doing a lot to mute fears that a tight labor market would keep propelling inflation. The gap between economists and bond investorsEconomists and bond investors have been seeing two different pictures in the labor data all week, Crofoot said.
Persons: Daniel Zhao, Elizabeth Crofoot, Zhao, Crofoot, Goldman Sachs, Jan Hatzius, Hatzius Organizations: New York Stock Exchange, Treasury, Dow, Federal Reserve, Labor Department, CNBC Locations: New York City, Washington
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Back-to-back losses Still believe in Disney Eli Lilly keeps going 1. Eli Lilly keeps going Eli Lilly (LLY) continued its post-earnings rally, up more than 1% during Wednesday trading. 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 .
Persons: Jim Cramer, Eli Lilly, Bob Iger's, LLY, Lilly, Jim Cramer's, Jim Organizations: CNBC, Federal, Fed, Disney Disney, CNBC –, Disney's ESPN, Penn Entertainment, Regulators Locations: U.S
Traders work on the floor of the New York Stock Exchange on April 26, 2023 in New York City. Nasdaq 100 futures gained 0.5%, while S&P 500 futures added 0.2%. Futures linked to the Dow Jones Industrial Average gained 23 points, or 0.07%. Meta shares leapt in after-hours trading as the company reported quarterly revenue that beat analysts' expectations. The S&P 500 slid 0.38%, while the tech-heavy Nasdaq Composite rose 0.47%.
Virgin Orbit is scrambling to secure a funding lifeline and avoid bankruptcy, which could come as early as this week without a deal, CNBC has learned. Virgin Orbit CEO Dan Hart and other senior leadership held daily talks with interested parties through the weekend, according to people familiar with the matter, who asked to remain anonymous in order to discuss internal matters. At the same time, Virgin Orbit is bracing for a potential bankruptcy filing as soon as this week, one person said. A Virgin Orbit spokesperson declined to comment. Shares of Virgin Orbit have continued to fall since its pause in operations, with its stock slipping to near 50 cents a share in Monday trading.
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