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☆ One of the big postelection gainers could soon stall out, Fundstrat warns
▼ + stars: | 2024-11-14 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

The U.S. dollar could soon see a sharp reversal from its postelection gains, according to Fundstrat. The dollar index, which measures the U.S. currency's performance against six rival currencies, including the euro and the yen, is up more than 3% since President-elect Donald Trump secured a second term. That move comes as investors assess the potential macroeconomic policies likely coming in a second Trump administration, particularly on tariffs and trade. .DXY YTD mountain Dollar index in 2024 But Mark Newton, technical strategist at Fundstrat, thinks the greenback "stalls out and reverses in the weeks ahead." Bearish seasonal trends: the dollar has "historically reversed sharp rallies into November, and December stands out as the most bearish month of the year" for the dollar index, the strategist said.

Persons: Donald Trump, Trump, Mark Newton, Newton, Piper Sandler, Campbell Organizations: U.S, Trump Locations: China

☆ Forget LA and BK: The rural places where young Americans are moving
▼ + stars: | 2024-11-13 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

Younger Americans are moving to rural areas, reshaping demographics and economies. Census data shows a shift from cities to rural areas for people ages 25 to 44 since 2020. Instead, they're heading to rural areas. AdvertisementLombard said there's been a surge of young people moving to South Carolina, North Carolina, and Tennessee, oftentimes for work. Even with many companies pushing for mandatory return-to-office policies, younger Americans continued moving to rural communities in 2023 at an accelerated pace.

Persons: —, Z, Hamilton Lombard, Lombard, there's, it's Organizations: Service, University of Virginia, Colorado Rockies, Brooklyn —, Power, nsheidlower Locations: Rural, Los Angeles, Kings County, Brooklyn, South Carolina, North Carolina, Tennessee, Flint , Michigan, Oak, Huntsville, Atlanta, Georgia

☆ The world’s 10 richest people got a record $64 billion richer from Trump’s reelection
▼ + stars: | 2024-11-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

The wealth of the world’s 10 richest people also soared by a record amount, according to Bloomberg’s Billionaire Index. The biggest gainer was Elon Musk, the world’s richest person and one of Trump’s most outspoken and dedicated supporters, whose wealth jumped $26.5 billion to $290 billion Wednesday, according to Bloomberg. Truth Social owner Trump Media & Technology Group, Trump’s social media company, also cashed in with shares skyrocketing in value after CNN and other media outlets projected Trump won. Trump is the dominant shareholder in the conservative social media company, which has scant revenue and is losing money. The president-elect’s 114.75 million shares were worth about $5.3 billion briefly based on those early gains, up from $3.9 billion when trading ended on Election Day.

Persons: Donald Trump, Elon Musk, Jeff Bezos, Kamala Harris, Larry Ellison, Trump, Bill Gates, Steve Ballmer, Larry Page, Sergey Brin, Warren Buffett, ”, Michael Block Organizations: New, New York CNN, Wednesday, Bloomberg, Amazon, Oracle, Microsoft, Berkshire Hathaway, Democratic, Social, Trump Media & Technology Group, CNN, Trump Locations: New York, Washington

☆ These stocks are soaring off the Trump victory
▼ + stars: | 2024-11-06 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That would mark a reversal from the Biden administration, which allowed migrants seeking asylum to legally work in the country while awaiting trial. A Trump administration is expected to approve Capital One's proposed merger with Discover Financial Services. Andrew Caballero-Reynolds/AFP/Getty ImagesGenerally, a Trump administration is expected to be more supportive of mergers and acquisitions compared to the Biden administration, which has sought to block many. Retail and green energy stocks falterWednesday wasn’t all good news for stocks, though. Trump is widely expected to repeal tax credits and other incentives President Joe Biden pushed for in the Inflation Reduction Act.

Persons: Donald Trump’s, Biden, It’s, Trump, Tesla Elon, Tesla, Donald Trump's, Elon Musk, Trump . Thibaut Durand, Hans Lucas, JPMorgan Chase, Jamie Dimon, Michael Barr, Goldman Sachs, Andrew Caballero, Reynolds, bitcoin, Joe Biden Organizations: New, New York CNN, Prisons, GEO Group, SpaceX, Trump ., Getty, Bank, JPMorgan, Federal, Citigroup, Discover Financial Services, Capital, Republican, JetBlue, Spirit Airlines, Trump, Mattel, Hasbro Locations: New York, AFP

☆ The electorate is changing. Here’s what that means for Trump and Harris
▼ + stars: | 2024-10-22 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +21 min

He also found that women will comprise nearly 52% of all eligible voters, which should help Harris. (North Carolina is the sole swing state where he found that they had increased as a portion of eligible voters since 2020.) The groups that Harris needs to give her winning margins are the non-White and college-educated White voters (especially women in each case). “I think Gen Z women, including White women, are very committed to an inclusive democracy,” she said. But this history clearly shows it is likely that the changes in the composition of the eligible electorate Frey has documented will closely track the shifts in the configuration of the actual electorate.

Persons: CNN —, Donald Trump, Kamala Harris, demographer William Frey, Frey, Whites, Liz Cheney, Trump, Ronald Reagan, Reagan, Harris, Harris ’, Trump’s, don’t, ”, Manuel Pastor, Pastor, “, White, she’s, Joe Biden, Biden, Patrick Ruffini, Republican pollster, “ Trump, ” Ruffini, Gen, millennials, Melissa Deckman, ” Deckman, Michael McDonald, McDonald, Barack Obama, NORC, Catalist Organizations: CNN, GOP, White, Trump, Whites, Keystone State, Harris, Metro, Nevada . College, Equity Research, University of Southern, Republican, “ Party of, Religion Research Institute, College, University of Florida, Center for American Women, Rutgers University, Rutgers Center, Pew Research, Democratic, Pew, Edison Research Locations: Philadelphia, Detroit, Milwaukee, Arizona, Nevada, Michigan, Wisconsin, Pennsylvania, North Carolina, In Michigan, In Pennsylvania, Arizona , Georgia, North Carolina . Arizona, Georgia, Nevada and Arizona, University of Southern California, “, ’, ”, White, Michigan , Pennsylvania, Trump

☆ Cramer sees 'nirvana moment' for the market and sorts through the big stock movers
▼ + stars: | 2024-10-18 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 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. 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: Jim Cramer, Jim, overbought, —, Honeywell, Stocks, Jim Cramer's Organizations: CNBC, Nasdaq, Netflix, Nvidia, Broadcom, Devices, Apple, Honeywell, American Express, Procter, Gamble, CVS Locations: China, Dover

☆ Stock futures are little changed as September consumer inflation report looms: Live updates
▼ + stars: | 2024-10-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.

Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S

☆ U.S. job creation totaled 254,000 in September, much better than expected
▼ + stars: | 2024-10-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

watch nowThe U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate fell to 4.1%, down 0.1 percentage point. Strength in job creation spilled over to wages, as average hourly earnings increased 0.4% on the month and were up 4% from a year ago. You get upward revisions and it tells you the job market continues to be healthy, and that means the economy is healthy."

Persons: Nonfarm payrolls, Kathy Jones, Charles Schwab Organizations: Labor Department, Dow Jones, Federal Reserve Locations: U.S

☆ Here are the stocks that win when the Fed cuts rates with no recession
▼ + stars: | 2024-09-16 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Fed funds futures have fully priced in that the central bank will lower interest rates, according to CME's FedWatch tool . Many now expect the Fed will achieve the coveted "soft landing" outcome, which means inflation is curbed without tipping the economy into a recession. Rate cuts without a recession has historically been a positive mixture for stocks. Given this backdrop, CNBC Pro screened for names that have performed nicely in past periods where the Fed pulled rates lower without the U.S. economy tipping into a recession. To find these companies, CNBC Pro searched the S & P 500 for members with the highest median gain one year after the Fed has cut rates without an official recession.

Persons: Genuity, LSEG, Paul Lejuez, WMT Organizations: Reserve, CNBC Pro, Nike, Dow Jones Industrial, Intel, Boeing, Walmart, Dow, Citi, Wall Locations: U.S, Rochester , New York

☆ Meet the 10 biggest wealth gainers this year — who've added a combined $360 billion to their fortunes in 2024
▼ + stars: | 2024-09-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

The 10 biggest wealth gainers have added a collective $360 billion in net worth so far in 2024. Nvidia's Jensen Huang, Meta's Mark Zuckerberg, and Oracle's Larry Ellison are up over $50 billion. Go to newsletter preferences Thanks for signing up! AdvertisementTen people have grown their personal fortunes by a combined $360 billion this year — a sum larger than the market value of Coca-Cola ($307 billion), Bank of America ($301 billion), or Netflix ($295 billion). This year's biggest wealth gainers include Nvidia CEO Jensen Huang, Meta CEO Mark Zuckerberg, and Oracle chairman Larry Ellison.

Persons: Nvidia's Jensen Huang, Meta's Mark Zuckerberg, Larry Ellison, Jeff Bezos, Warren Buffett, —, Jensen Huang, Mark Zuckerberg Organizations: Walmart, Service, Bank of America, Netflix, Nvidia, Business

☆ These 5 portfolio stocks crushed the volatile market since our August Monthly Meeting
▼ + stars: | 2024-09-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

It's been a topsy-turvy stock market since the Club's August Monthly Meeting. These were two of our top performers since the August Monthly Meeting. The stock closed nearly 5% higher on the eve of the September Monthly Meeting. The S & P 500's health care sector is up 2.2% since the August Monthly Meeting, slightly outperforming the broad index's 1.8% rise in that timeframe. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: It's, We've, Eli Lilly, Estee Lauder, Jerome Powell, it's, DA Davidson, Goldman Sachs, Goldman, Andy Jassy's, TJX, Jensen Huang, Abbott, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Dow Jones Industrial, Nasdaq, Investor, Federal, Procter, Gamble, Dover, Abbott Laboratories, TJX, Amazon, Micro Devices, Jackson, Bank of America, Telsey Advisory Group, JPMorgan, Oracle, Devices, AMD, Nvidia, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: seesaw, Wednesday's, U.S

☆ August payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2%
▼ + stars: | 2024-09-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At the same time, the unemployment rate ticked down to 4.2%, as expected. The labor force expanded by 120,000 for the month, helping push the jobless level down by 0.1 percentage point, though the labor force participation rate held at 62.7%. The household survey, which is used to calculate the unemployment rate and is often more volatile than the survey of establishments, showed employment growth of 168,000. Markets showed little initial reaction to the data, with stock futures holding negative and Treasury yields also lower. While the August numbers were close to expectations, the previous two months saw substantial downward revisions.

Persons: Nonfarm, Dow Jones, Dan North Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, BLS, North America, Allianz Trade, Manufacturing Locations: U.S, Dow

☆ Stock market today: Stocks soar as investors cheer soft PPI and brace for consumer inflation data
▼ + stars: | 2024-08-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

US stocks rallied on cooling inflation data from the producer price index report. Investors are hoping for evidence of further cooling in Wednesday's consumer price index. Starbucks gained 23% on Tuesday on news Chipotle boss Brian Niccol will be the new CEO. The Bureau of Labor Statistics reported that the producer price index rose 0.1% in July, underwhelming estimates of a 0.2% increase. Investors will now watch for further disinflationary signals in Wednesday's consumer price index report.

Persons: Brian Niccol, —, Dow, Jamie Cox Organizations: Investors, Starbucks, Service, Labor Statistics, Nasdaq, Federal Reserve, Fed, Harris Financial Group, Bank of America

☆ Nikkei 225: Japan stocks rebound sharply after worst rout in history as other Asia markets also rally
▼ + stars: | 2024-08-05 | by ( Laura He | Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Japanese shares soared in early trading on Tuesday, clawing back most of their record losses from the previous day and underpinning a regional rally. The Nikkei 225 last traded about 10% higher, while South Korea’s Kospi rebounded by about 3%. They all suffered major losses during the previous trading session. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. Losses like that led the Nikkei to close 12.4% lower on Monday in its largest one-day fall since October 1987.

Persons: clawing, Kospi, ” Neil Newman Organizations: Hong Kong CNN, Nikkei, Advisory, CNN, Kikkoman, Nasdaq, Bank of Japan Locations: Hong Kong, South, Taiwan, Japan, Tokyo

☆ Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%
▼ + stars: | 2024-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported Friday. The unemployment rate edged higher to 4.3%, its highest since October 2021. "Temperatures might be hot around the country, but there's no summer heatwave for the job market," said Becky Frankiewicz, president of the Manpower Group employment agency. From a sector standpoint, health care again led in job creation, adding 55,000 to payrolls. The labor force also contracted by 214,000, though the participation rate as a share of the working-age population actually edged higher to 62.7%.

Persons: Nonfarm payrolls, Dow Jones, Becky Frankiewicz Organizations: Labor Department, Stock, Manpower Group Locations: U.S

☆ The 'great rotation' faces its biggest test yet: earnings from Microsoft, Meta, Apple and Amazon
▼ + stars: | 2024-07-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +15 min

That will be the case in this jam-packed week , with the earnings from Microsoft on Tuesday, Meta Platforms on Wednesday, and Apple and Amazon on Thursday. If Alphabet said it cut back on data-center spending, then it would be alleged the company is falling behind Amazon and Microsoft in the AI race. The company also is now dogged by another competitor in search engines after ChatGPT creator OpenAI announced a prototype of SearchGPT . Apple reports on Thursday, and if you think the cloud-computing heavyweights are spending on too much AI, then you should be buying Apple. President Joe Biden always chose to have his agencies wear down tech companies.

Persons: Don Forst, There's, hadn't, OpenAI, Tesla, Elon Musk, —, Russell, Mark Zuckerberg, Nvidia's Jensen Huang, It's, Zuckerberg, EssilorLuxottica —, EssilorLuxottica, Andy Jassy, Stanley Black, Decker, it's, Kamala Harris, Tony West, Joe Biden, Harris, Biden, Biden couldn't, Gina Raimondo, Raimondo, Donald Trump, Sen, JD Vance, Vance, Trump, Xi Jinping's, Abbott, Jim Cramer's, ABT, Jim Cramer, Jim, Sebastien Bozon Organizations: Los Angeles Herald Examiner, Microsoft, Apple, Google, YouTube, Amazon, Nvidia, Siggraph, Federal Reserve, Mohawk Industries, Fortune Brands, Club, Democratic, Uber Technologies, titans, Department of Justice, Federal Trade Commission, Department of Commerce, Republican, Big Tech, Republican Party, Trump, Abbott Laboratories, Drug Administration, CNBC, AFP, Getty Locations: Los Angeles, Denver, Ray, California, U.S, Ohio, Taiwan, St, Louis , Missouri

☆ China is doubling down on homegrown tech. Goldman Sachs shares its chip plays
▼ + stars: | 2024-07-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

From an investment perspective, Goldman Sachs analysts on July 15 pointed out there are notable catalysts for certain semiconductor and artificial intelligence China stock plays from August to December. Officials told reporters about plans to speed up "emerging and future industries," and expand the development of tech talent in China. Ways to play the space The bank has buy ratings on at least two Chinese companies in the industry. The Goldman analysts are also optimistic about growth for Chinese fabless companies, the businesses which design chips but outsource the manufacturing process. Montage generates nearly all of its revenue from servers, while Will Semiconductor draws about half of its revenue from smartphones, and one-third from automobiles, according to the Goldman report.

Persons: Goldman Sachs, Biden, Goldman, 3Q24E Organizations: Officials, Microsoft, Nvidia, Taiwan Semiconductor, ACM Research, Goldman, Will Semiconductor Locations: Beijing, China, TSMC, U.S, Shanghai, Friday's

Traders work on the floor at the New York Stock Exchange on June 14, 2024. U.S. stock futures were little changed Wednesday night after both the S&P 500 and Nasdaq Composite closed at new all-time highs. Futures tied to the broad market index slipped less than 0.1%, as did Nasdaq 100 futures . These moves come before a key inflation report due to be released Thursday morning, which could help solidify expectations for a rate cut in September. "Any upside surprises in inflation are going to be downside surprises for markets.

Persons: Dow Jones, Mike Bailey Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Costco Wholesale, Dow, FBB Capital Partners, PepsiCo, Delta Air Lines

☆ European markets open higher with UK election results in focus
▼ + stars: | 2024-07-05 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Keir Starmer, leader of the Labour Party, campaigns ahead of the general election, in Redditch, UK, on Wednesday, July 3, 2024. LONDON — European stocks opened mostly higher on Friday as the U.K.'s general election draws focus in the region. The pan-European Stoxx 600 index rose 0.3% higher in early morning deals. The U.K.'s FTSE 100 index climbed more than 0.2% as investors reacted to election results. Travel and leisure stocks were the standout gainers Friday, climbing 0.6%, as most sectors traded in positive territory.

Persons: Keir Starmer Organizations: Labour Party, LONDON Locations: Redditch, UK

☆ The stock market flips and tech falls out of favor — why this move may be hard to stop
▼ + stars: | 2024-06-24 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The oil rally was certainly helping our lone energy stock, Coterra Energy, which was nearly 4% higher on Monday. 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: Jim Cramer, —, Procter, Cramer, Jim Cramer's, Jim Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Coterra Energy, Micron, Apple, Broadcom, Procter & Gamble, TJX Companies, Industrial, Honeywell, Gamble, Conference, Jim Cramer's Charitable Locations: Dover

☆ Nvidia slides 13% in three days after briefly becoming most valuable company
▼ + stars: | 2024-06-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Since briefly becoming the world's most valuable company last week, Nvidia has dropped for three consecutive trading days and is now down 13% from its peak. Nvidia's decline brought with it a slide in chipmakers and other tech companies that have been tied to the artificial intelligence boom. Super Micro Computer , which sells servers packed with Nvidia's AI chips, slid 8.7 percent, and Dell , which competes in that market, fell 5.2%. Last week, it topped Apple and Microsoft as the most valuable U.S. company with a market capitalization over $3 trillion before giving up some of those gains. Later this year, Nvidia will start shipping its next-generation AI chips, called Blackwell, that some analysts say could kick off another cycle with significant growth for the chipmaker and its partners.

Persons: it's, Stephanie Link, Blackwell, Ray Wang Organizations: Nvidia, Micro Computer, Dell, Qualcomm, Broadcom, Apple, Microsoft, CNBC, Google, Oracle, Meta, Constellation Research Locations: U.S

☆ Ron Insana: Never mind the narrow leadership. This is a powerful bull market
▼ + stars: | 2024-06-21 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

There has been a fair amount of nervous chatter lately about the state of the stock market. As of Thursday's close, the S & P 500 was up about 15% in 2024, while the Nasdaq Composite was just shy of 19%. Companies like Microsoft , Cisco Systems and Intel were among the biggest gainers in the S & P 500. Further, the S & P 500 Equal Weighted Index , with a roughly 4% gain in 2024, is far underperforming its capital-weighted counterpart. .SPXEW .SPX YTD line The S & P 500 Equal Weighted Index vs. the S & P 500 in 2024 Having said that, in years past, these types of divergences would worry me to the point of distraction.

Persons: it's, Bubbles, It's, rebalancing, Ron Insana Organizations: Nasdaq, Microsoft, Cisco Systems, Intel, Federal Reserve, Nvidia, CNBC Locations: U.S

☆ Jim Cramer explains how Nvidia's gains can lift other stocks
▼ + stars: | 2024-06-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday explained to investors how Nvidia can sometimes boost other stocks when it soars. He added that companies involved in every aspect of building data centers saw gains, from energy outfits to semiconductor manufacturers. "I know that Nvidia's stock accounts for one-third of the S&P 500's rally this year, so it's easy to say it has outsized influence," Cramer said. "But as a formerly decent bowler before I hurt my elbow, I'll tell you that I've never seen, ever seen anything like this. Every time Nvidia hits the head pin, it's strike after strike after strike."

Persons: CNBC's Jim Cramer, Cramer, Hewlett Packard, I've Organizations: Nvidia, Nasdaq, Apple

☆ Job openings fell again in April, hitting lowest level since February 2021 in a sign of labor market weakening
▼ + stars: | 2024-06-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Job openings fell more than forecast in April, signaling a potential weakening in the labor market that could provide the Federal Reserve with more impetus to start lowering interest rates. The Labor Department's Job Openings and Labor Turnover Survey released Tuesday showed that the level of employment vacancies slipped to 8.06 million for the month, down by nearly 300,000 from March and close to 19% lower than a year ago. The ratio of job openings to available workers edged down from 1.2 to 1, after being around 2 to 1 when openings peaked above 12 million in March 2022. Fed officials watch the JOLTS report closely for signs of labor market slack as they look for direction on monetary policy. While job openings slid, hires moved slightly higher as did separations and quits, a sign of worker confidence in the ability to move to other positions.

Persons: Dow Jones, nonfarm Organizations: Reserve, Labor, Bureau of Labor Statistics

☆ Off-price retailers like TJX and Ross won't be slowing down any time soon — here's why
▼ + stars: | 2024-05-26 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

Mario Anzuoni | ReutersOff-price retailers like TJX Companies and Ross are still posting sales gains and taking market share from rivals, but it's not just because consumers are under pressure and hunting for value. TJX and Ross both reported fiscal first quarter earnings last week that came in better than Wall Street expected, even as both companies lapped outsize growth from the prior-year period. Ross, which runs Ross Dress for Less and dd's Discounts, posted an 8% jump in sales, bringing revenue to $4.86 billion, compared to estimates of $4.83 billion, according to LSEG. "That's because they're providing consistent value to the consumer – and that's branded consistent value to the consumer at a discount price," said Roach. The dynamic is a bit different at Ross, which has more exposure to the lower- and middle-income consumer than TJX does and competes more on price, said Siegel.

Persons: Mario Anzuoni, Ross, it's, TJ Maxx, they've, Jessica Ramirez, Jane Hali, TJX, they'd, They've, Goldman Sachs, Brooke Roach, John Klinger, Michael Hartshorn, Roach, Simeon Siegel, Siegel, Ernie Herrman Organizations: Maxx, Reuters, TJX, Associates, Wall, Marshalls, CNBC, Walmart, BMO Capital Markets, Brands Locations: Pasadena , California, Homegoods, Ross

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