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Here's what to watch out for in Friday's jobs report for May
  + stars: | 2023-06-01 | by ( Jeff Cox | ) www.cnbc.com   time to read: +3 min
Joe Raedle | Getty ImagesWatching the monthly jobs reports this year has been something of a waiting exercise, with economists and market participants looking for a downturn that never seems to arrive. But judging by the way these reports have been going, the risk is probably to the upside in a jobs market that has been nothing if not resilient. "The labor market still looks tight. Defying the FedThe tight labor market and the pressure that has put on wages and inflation has bedeviled the Federal Reserve. A 'fully staffed' jobs market?
Persons: Joe Raedle, Dow Jones, We're, Joseph LaVorgna, LaVorgna, payrolls, we're, Donald Trump, Philip Jefferson Organizations: Labor Department, Nikko Securities America, National Economic Council, Federal Reserve Locations: Miami , Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed needs to see people coming into the labor force, says economist Betsey StevensonJoseph LaVorgna, SMBC Nikko Securities America chief economist, and Betsey Stevenson, professor of economics at the University of Michigan, join CNBC's "Squawk Box" discuss Friday’s jobs report.
Here's why the Fed should pause rate hikes
  + stars: | 2023-03-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why the Fed should pause rate hikesSMBC Nikko Securities America's Joe Lavorgna, Dana Peterson, chief economist at The Conference Board, and Jason Trennert, Strategas Research Partners chairman and CEO, join 'Squawk Box' to discuss the February CPI data and upcoming Fed announcement.
March 13 (Reuters) - France's Sanofi SA (SASY.PA) on Monday agreed to acquire Provention Bio Inc <PRVB.O> for $2.9 billion to bolster its work on a U.S.-approved type 1 diabetes therapy and strengthen its drug pipeline following development setbacks. The deal builds on an existing co-promotion agreement between the two companies, and would give the French drugmaker full ownership of the drug, Tzield, Sanofi said, adding it expects to complete the acquisition in the second quarter of 2023. While growth in asthma and eczema drug Dupixent is boosting Sanofi's sales, investors have criticised its drug development pipeline as weak. Sanofi, the maker of long acting insulin products Toujeo and Lantus for type 2 diabetes, in 2019 quit further type 2 diabetes drug development. Chief Executive Officer Paul Hudson said last month the company saw great promise in type 1 diabetes drug development and reaffirmed his commitment to steer clear of further work on type 2 diabetes and obesity.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop economist Joe Lavorgna: Fed is making a classic policy mistake by constantly raising ratesSMBC Nikko Securities America's Joe Lavorgna joins 'Squawk Box' to discuss what's ahead for the economy, why the 10-year treasury yield hasn't moved, and more.
Globally, IPOs across all sectors nosedived last year after a blockbuster 2021, as aggressive interest rate hikes by central banks to curb inflation put an end to the era of cheap money. In the biotech sector, there were only 47 IPOs last year that raised a total of about $4 billion, compared with 152 offerings in 2021 that had raised over $25 billion. While the XBI is still trading 50% below its February 2021 closing high, analysts believe the downturn in biotech has bottomed out. All we need is one or two biotech IPOs to get good interest and the floodgates will open." Reuters GraphicsThe second half of 2023 is more likely to see a significant step-up in biotech IPOs instead of the first half, as markets await further clarity on potential rate cuts, analysts said.
Termed "rolling recessions," the idea is that rather than contract broadly and all at once, the economy could see different sectors decline in succession, one after the other. I think we will see rolling recession in the future." Sonders is a proponent of the "rolling recession" theory and noted that stocks can perform well even in downturns. A traditional recession looms To be sure, there are detractors to the "rolling recession" theory. "Have we ever had a period where both housing and manufacturing were in recession at the same time and we didn't have a recession?"
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDebt ceiling clash could push Fed to cut rates, restart QE, says SMBC Nikko Securities America's LaVorgnaSMBC Nikko Securities America's Joe LaVorgna on whether hitting the debt limit will counter everything the Fed's trying to do. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Bonawyn Eison, Steve Grasso and Guy Adami.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop economist Joe Lavorgna on the biggest risk to the labor marketSMBC Nikko Securities America's Joe Lavorgna on what tomorrow's report means for the market and the Fed. With CNBC's Sara Eison and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.
Four experts break down strong third-quarter U.S. GDP data
  + stars: | 2022-10-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFour experts break down strong third-quarter U.S. GDP dataAustan Goolsbee, former CEA chairman and Booth School of Business professor, Joe LaVorgna, former Trump White House economist and chief economist at SMBC Nikko Securities America, Lindsey Piegza, chief economist at Stifel, Nancy Davis, chief investment officer at Quadratic Capital Management, and CNBC's Rick Santelli join 'Squawk Box' to react to the latest third-quarter GDP data.
That’s why it’s so surprising that the US economy is expected to show robust growth in Thursday’s third-quarter GDP report. Economists warn that the report could be a one-hit-wonder that overstates momentum in an economy that is actually slowing. “There is more braking power being inflicted on the US economy than will be at all apparent in the third-quarter GDP report,” wrote Kelly. Central bank officials are going to be looking at underlying metrics in the report, and will likely ignore headline numbers, said Patterson. The bottom line: The rejiggering of trade balances often falsely inflates economic growth calculations ahead of a recession.
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