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Tropical Storm Debby has strengthened into a Category 1 hurricane ahead of its anticipated landfall on Florida's Gulf Coast on Monday, U.S. forecasters said late Friday. The hurricane was about 65 miles west of Cedar Key, Florida, and about 100 miles west of Tampa, and moving north at about 12 mph, the center said. Debby is expected to continue strengthening before it reaches the Big Bend coast on Monday, weakening after it moves inland across northern Florida and southern Georgia, it said. A sign warns of a storm surge before the possible arrival of Tropical Storm Debby in Cedar Key, Fla., on Sunday. Ron DeSantis compared Debby’s path to that of Hurricane Idalia, the Category 4 storm in 2023 that caused significant damage in north Florida.
Persons: Debby, Tom Street, Dan Norman, Joe Raedle, Ron DeSantis, Idalia, Debby won’t, DeSantis Organizations: National Hurricane Center, Getty Images Locations: Coast, U.S, Cedar Key , Florida, Tampa, Bend, Florida, Georgia, Cedar Key, Fla, South Carolina, Florida's Gulf Coast, Suwannee, Getty Images Florida
Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.
Persons: , Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan
Shares in the "Magnificent Seven" tech giants fell on Monday amid a global sell-off. AdvertisementShares in the so-called "Magnificent Seven" tech giants plummeted on Monday as fears of a US recession triggered global market disruption. In pre-market trade, the two tech giants had fallen by more than 15% and 18% respectively. The combined value of the "Magnificent Seven" is now below $15 trillion, down from a peak of $17 trillion in July. The tech sector's market volatility was set to continue on Monday, with the Nasdaq Composite down 4.28%.
Persons: , Tesla Organizations: Service, Nvidia, Apple, Microsoft, Meta, Tech, Nasdaq
(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.
Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, , Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China
Hong Kong/London CNN —Japanese shares soared Tuesday, clawing back some of their record losses from the previous day and underpinning a tentative recovery on global markets. Markets around the world plunged during Monday’s session when a combination of fears about a slowing US economy, rising Japanese interest rates and crumbling tech stocks combined to trigger a meltdown. The bounce in Japan is “typical after a market crash,” Neil Newman, head of strategy at Astris Advisory in Tokyo, told CNN. “It is too early to conclude that the Japanese stock market has hit a bottom,” they said, adding that any recovery would likely only occur after Japanese companies report first-half earnings in October, or even after the US presidential election in November. A stronger yenJapan’s stock market, in particular, was hard-hit by the rapid appreciation of the yen, which undermines the export competitiveness of the country’s manufacturers.
Persons: clawing, Kospi, ” Neil Newman, , , Stephen Innes, ” Newman, Newman, Fumio Kishida Organizations: London CNN, Nikkei, Nasdaq, Advisory, CNN, UBS Chief Investment, Moody’s, Bank of Japan, Management, Tokyo “, Traders, Reuters Locations: Hong Kong, London, Asia, South, Taiwan, Europe, Japan, Tokyo, South Korea
Bitcoin dropped on Monday amid the global market meltdown. Crypto has not been spared the carnage as traders eye a growing risk of a US recession. The sell-off in crypto comes as risk assets plunge in a global market rout caused by worries over the state of the US economy. Some market observers have said that the historic market rout could prompt an emergency rate cut from the central bank in the next week. Japan's Nikkei 225 index dropped 12% early Monday in its worst single-day decline since 1987, and markets in South Korea and Europe also plunged.
Persons: Bitcoin, Crypto, , Gracy Chen Organizations: Service, Federal Reserve, Fed, Japan's Nikkei, Bank of America Locations: South Korea, Europe
Apple stock plunged as much as 11% on Monday on news that Berkshire Hathaway sold about 50% of its stake. Warren Buffett's conglomerate sold about 390 million Apple shares in the second quarter. The decline in Apple shares, which was double the Nasdaq 100's decline of about 5%, came after it was revealed over the weekend that Warren Buffett's Berkshire Hathaway sold about 50% of its Apple stake. According to its second-quarter earnings report, Berkshire Hathaway sold about 390 million Apple shares during the quarter, which is on top of the 115 million Apple shares it sold during the first quarter of the year. This is an opportunity, especially going into what I view as a really historic upgrade cycle for Apple," Ives said.
Persons: Berkshire Hathaway, Warren Buffett's, , Warren, Buffett, Cathy Seifert, Dan Ives, Ives, It's Organizations: Apple, Berkshire, Service, CFRA, CNBC Locations: Berkshire, Cupertino
New York CNN —Bloomberg News took disciplinary action Monday against a “number” of its staffers after the outlet broke an embargo last week on news of the release of several American prisoners held by Russia, including Wall Street Journal reporter Evan Gershkovich. In a memo sent to the outlet’s staff on Monday and obtained by CNN, Bloomberg editor-in-chief John Micklethwait wrote that an initial story, published at 7:41 a.m. News organizations, including CNN, had agreed to hold on to news of the prisoners’ release so as not to endanger the process. Ahead of the prisoner swap, the White House had briefed reporters from multiple news organizations around 8 a.m. ET on the activity, with an embargo time on the news of later that day, according to a person familiar with the matter.
Persons: Evan Gershkovich, John Micklethwait, Gershkovich, , ” Micklethwait, , Emma Tucker, Paul Whelan, Alsu Kurmasheva, Vadim Krasikov Organizations: New, New York CNN, Bloomberg, Wall Street, CNN, News, White, RFE Locations: New York, Russia, US, Turkey’s Ankara, Belarus, Germany
Treasury yields tumble as recession concerns take hold
  + stars: | 2024-08-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +1 min
ET, the yield on the 10-year Treasury was down by over eight basis points to 3.7099%. The 2-year Treasury yield was last at 3.7315% after falling by around 14 basis points. U.S. Treasurys slid on Monday as fears about a recession grew after a series of key economic data was released last week. The data suggested an easing of the labor market, which prompted concerns about a recession. That came after the Fed earlier in the week left interest rates unchanged and hinted at a September rate cut.
Persons: Treasurys, July's nonfarm, Dow Jones Organizations: Treasury, Dow, Fed, PMI
Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.
Persons: , Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan
The Paris Olympics are entering their final week already, with the closing ceremonies just six days away. ET, 4:55 p.m. in Paris (women’s final); 11 a.m. ET, 10 p.m. in Paris (women’s final), 4:30 p.m. AdvertisementSurfing gold up for grabsAmerican Caroline Marks is one of four surfers looking to earn the women’s gold medal. 100M GOLD MEDALIST.
Persons: — Simone Biles, , Biles, Lee, Chiles, Simone Biles, Sunisa Lee, Jordan Chiles, Jade Carey, , , V:, ault, abby, homas,, aris, arn, risa H ennessy, ake Organizations: Paris, USA, Olympics, aris, edina, ust Locations: Paris, Los Angeles
Keep reading to learn where to watch Miss USA. Miss USA will air on The CW for a second time this year, following last year's shift to the network. The latest Miss USA comes on the heels of a rather controversial and turbulent past few months following the resignation of 2023's Miss USA and Miss Teen USA. Not to be confused with Miss America, the winner of Miss USA will go on to represent the United States in Miss Universe. ET / 1 a.m. BST / 8 a.m. AWSTWhere to watch Miss USA in the USMiss USA will air on The CW starting at 8 p.m.
Persons: we've, ExpressVPN, Fubo Organizations: Business, USA, Miss, CW, Miss USA, Miss Teen USA, Miss America Locations: Miss USA, United States
We've compiled everything you need to know about how to watch Crawford vs. Madrimov, including PPV prices around the world. Crawford vs. Madrimov is just the title event in an already stacked night that also includes a performance from Eminem. How to watch Crawford vs. Madrimov in the US & CanadaThe Crawford vs. Madrimov showdown will live stream through DAZN in the US and Canada. ET, but the Crawford vs. Madrimov ring walk won't begin until later in the evening, at around 11:30 p.m. Check price at DAZNHow to watch Crawford vs. Madrimov in the UKCrawford vs. Madrimov will also live stream on DAZN in the UK.
Persons: Terence Crawford, Israil Madrimov, Crawford, American Crawford, Madrimov, Eminem, it's, we've, It's, ExpressVPN, Andy Ruiz, Jarrell Miller, Jared Anderson, Martin Bakole, Isaac Cruz, Jose Valenzuela, David Morrell, Radivoje, Andy Cruz, Antonio Moran, Steve Nelson, Marcos Ramon Vazquez, Ziyad Almaayouf, Michal Bulk Organizations: Business, WBA, BMO, & Canada Locations: American, Uzbekistan, KOs, Los Angeles, Riyadh, Canada, Crawford
TV: PeacockWhat to watch: Novak Djokovic and Carlos Alcaraz meet for the seventh time — and second on the clay of Roland Garros — for the men’s singles gold medal. His only Olympic medal, a bronze, came in 2008. GO DEEPER Why is Team USA struggling in the Olympic gold medal count? Cycling hits the roadAnna Kiesenhofer earned Austria’s first Summer Olympics gold medal in 17 years when she won in 2021. But Katie Ledecky accomplished something only one other woman has in Olympic history by winning her ninth gold medal.
Persons: It’s, Noah Lyles, Novak Djokovic, Carlos Alcaraz, Roland Garros, Djokovic, Alcaraz, Lyles, Hannah Peters, Yu, ” Lyles, Kishane Thompson, Marcell Jacobs, Fred Kerley, Canada’s Andre De Grasse, Sarah Sjöström, Gretchen Walsh, Bobby Finke, Ireland’s Daniel Wiffen, A’Ja Wilson, Breanna Stewart, Satou Sabally, Anna Kiesenhofer, Austria’s, Dimitar Dilkoff, Austrian Anna Kiesenhofer, Italy’s Elisa Longo Borghini, Australia’s Grace Brown, Great Britain’s Anna Henderson, Chloe Dygert, , KATIE LEDECKY, 💪 Organizations: Paris Games, NBC, U.S, Netflix, Olympics, Team USA, USA Network, Telemundo, Germany, Belgium, Dallas Wings, Japan, Cycling, Getty, CNBC, United, ust, aris Locations: Paris, Alcaraz, Tokyo, Jamaica, United States, U.S, Australia, France, Belgium, Germany, Japan, AFP, Austrian, oman
Here's everything you need to know about how to watch a free Alcaraz vs. Djokovic live stream from anywhere. Watch Alcaraz vs. Djokovic live stream for free online. How to watch Alcaraz vs. Djokovic in the USAThe cheapest option to watch Olympic tennis locally in the USA is Peacock. Check price at Peacock TVWhere to watch Alcaraz vs. Djokovic in AustraliaVast amounts of Olympic coverage will be available to live stream on 9Now in Australia, a free option you can access after creating a free account. Where to watch Alcaraz vs. Djokovic in the UKFor the most comprehensive tennis coverage, you'll need to head over to Eurosport, which is only £3.99 a month during the Olympics.
Persons: Roland Garros, Alcaraz, They're, ExpressVPN, Djokovic, Peacock Organizations: Business, Paris Olympics, Serbian, Wimbledon, Olympic, NBC, Eurosport Locations: Paris, Australian, USA, Australia
Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead
We saw legends in their sport add to their gold-medal counts, thrilling finishes on the track and much more. Track and FieldRacing in her first Olympics after being ruled ineligible for the Tokyo Games, USA’s Sha'Carri Richardson won silver in the women’s 100-meter finals Saturday. Richardson won gold in the same event at the World Athletic Championships in Budapest last year. And on the field, American Ryan Crouser won his third straight gold medal in the men’s shot put. He hurt the ulnar nerve in his throwing elbow before tearing his pectoral muscle leading up to the Olympics.
Persons: USA’s Sha'Carri Richardson, Lucia’s Julien Alfred, Melissa Jefferson, Jamaica’s Shelly, Ann Fraser, Price, didn’t, Richardson, Femke Bol, Bol, Ryan Crouser, John Kovacs, Rajindra Campbell, Crouser, , Denis, Ben Stansall, Simone Biles, It’s, ” It’s, she’ll, , ” Biles, USA's Jade Carey, Carey, “ We’ve, ” Carey, Stephen Nedorosick, Guy, Clark Kent, Glen Powell, Nedoroscik, ” Nedoroscik, Katie Ledecky, Ledecky, Titmus, Paige Madden, Alex Walsh, Walsh, Canadian Summer McIntosh, Kate Douglass, Australia’s Kaylee McKeown, ” Douglass, Trinity Rodman, Crystal Dunn, ” Rodman, Emma Hayes, What’s, Noah Lyles, Jamaica’s Kishane Thompson, Carlos Alcaraz, Novak Djokovic Organizations: Racing, Tokyo Games, St, World Athletic, Paris Games, Getty, Tokyo, Canadian, U.S Locations: Lucia, Budapest, Tokyo, Netherlands, Paris, America, Belgium, Rio, Saint, AFP, Los Angeles, Germany
Since Friday, the front developed from a potential tropical cyclone to a tropical depression, and it continues to draw strength from warm, tropical water. Tropical Storm Debby was expected to continue moving north at 15mph and hug Florida's west coast. The outer portions of a tropical system, which later became Tropical Storm Debby, saturates Fort Myers Beach, Fla., on Saturday. The named tropical storm designation means the front has sustained winds of 39 to 73 mph. Debby comes with a hurricane warning and tropical storm warning for the state's west coast from the Suwannee River to the Ochlockonee River, the hurricane center said.
Persons: Debby, saturates, Andrew West Organizations: Tropical, National Hurricane Center, Atlantic, Press, USA Locations: Cuba, Florida, 15mph, Gulf, Mexico, Havana, Apalachee Bay, Big, saturates Fort Myers Beach, Fla, Suwannee
Until then, the front is being called Tropical Depression Four, with the name Debby available should it graduate to tropical storm. Maximum sustained winds of 30 mph kept it below the 39 mph threshold for tropical storm status late Friday, but the National Hurricane Center said it would continue to strengthen. The front graduated from Potential Tropical Depression Four to Tropical Depression Four on Friday night as it gained strength over warm Caribbean waters. It was "expected to become a tropical storm over the southeastern Gulf of Mexico by late Saturday," the hurricane center said in an update late Friday. A tropical storm watch is also in effect for some areas, including the Florida Keys south of the Card Sound Bridge.
Persons: Debby, simmer, Philip Klotzbach Organizations: National Hurricane Center, National Weather Service, Atlantic, Colorado State University Locations: Cuba, Gulf of Mexico, Caibarien, Mexico, Florida, Boca Grande, Tampa
Not to mention the third round of men’s golf, and men’s and women’s tennis medal matches earlier in the day. Saturday's 31 gold medal events Sport Event Time Archery Women's individual 8:46 a.m. Shooting Men's skeet 9:30 a.m. Surfing Men's final 4 p.m. Surfing Women's final 5:12 p.m. Swimming Mixed 4x100m medley relay 3:58 p.m. Table tennis Women's singles 8:30 a.m. Tennis Men's doubles 6 a.m. Tennis Women's singles Third on courtThere’s also the U.S. women’s soccer quarterfinal against Japan at 9 a.m. Added Tamayo: “You’ve gotta manage your brain, you can’t go too hard.”Step 3: Have a pick-me-upChina’s Zheng Qinwen goes against Croatia’s Donna Vekić in the women’s tennis gold medal match.
Persons: Scott Hanson, Hanson, , we’re, “ RedZone, Simone Biles, Katie Ledecky, LeBron James, Sha’Carri Richardson, Léon Marchand, Stephen Nedoroscik, ” Hanson, it’s, Gabriel Bouys, Tom Harris, Year’s Eves, , Harris, Biles, Nedoroscik, Ledecky, Richardson, Men's, Athletics Women's, There’s, Pace, Ryan Crouser, Ben Stansall, Jonathan Tamayo, Tamayo, , ” Tamayo, ” Ashton Harrison, Zheng Qinwen, Croatia’s Donna Vekić, Harrison, Devin Altieri —, ” Altieri, you’ve, Altieri, carbo, “ Don’t, Pascal Guyot, Oside, Oluwole, . Hanson, “ I’ve, Peacock's, RedZone, Dan Goldfarb, Sean Reilly, Henry Browne, Hannah Peters, Jamie Squire, Jonathan Nackstrand Organizations: NFL, Paris, Olympic, Getty Images, Times Square Alliance, Stade de France, Athletics, Women's, Athletics Men's, Badminton, Dressage, Japan, U.S, Puerto Rico, Getty, Indy, Pepsi, rugby, USA, Paris Games Locations: U.S, AFP, New York, Florida, Paris, Sebring
Learn moreThe women's football quarterfinals are here, and the United States vs. Japan match-up will kick off the next round on Saturday. Keep reading to learn how to watch USA vs. Japan free from anywhere. How to watch USA vs. Japan in the USThe USA vs. Japan quarterfinal match will air on Saturday at 9 a.m. Check price at FuboHow to watch USA vs. Japan in the UKThe USA vs. Japan match will be available to live stream on Eurosport through Discovery+ in the UK. How to watch USA vs. Japan in AustraliaToday's USA vs. Japan match, along with other quarterfinal games and Olympic coverage, will live stream free on 9Now in Australia.
Persons: Peacock, it's, Stan Sport, VPNs, ExpressVPN Organizations: Business, USA, Paris, Olympics, US, Tokyo, Olympic, Japan, NBC, Eurosport, Discovery Locations: United States, Japan, United, Zambia, Germany, Australia, Spain, USA, Paris, Australian
Here's everything you need to know about how to watch a free Zheng vs. Vekic live stream from anywhere. Watch Zheng vs. Vekic live stream for free online. How to watch Zheng vs. Vekic in the USAThe cheapest option to watch Olympic tennis locally in the USA is Peacock. Where to watch Zheng vs. Vekic in the UKFor the most comprehensive tennis coverage, you'll need to head over to Eurosport, which is only £3.99 a month during the Olympics. If you want free coverage, 9Now in Australia (see above) is your best bet, as we see plenty of events on their schedule.
Persons: You'll, They're, ExpressVPN, Zheng, Peacock Organizations: Business, Paris Olympics, Olympic, NBC, Eurosport Locations: Paris, Australian, USA, Vekic, Australia
ET, 5:16 p.m. in Paris (men’s pommel horse)TV: NBC and PeacockWhat to watch: Biles continues her gold medal aspirations when she competes in the individual vault competition. Biles enters the vault competition as the leader from qualifying after posting a 15.3. The Canadiens, reigning gold medal winners, needed to win all three matches to get through — and they did. GO DEEPER Ledecky becomes most decorated U.S. female OlympianCanadian Summer McIntosh eyes her third Olympic gold at just 17 years old. With a win Saturday, Crouser would be the first male shot putter to win three Olympic gold medals.
Persons: We’ve, Sha’Carri Richardson, Simone Biles, Stephen Nedoroscik, Katie Ledecky’s, , Nedoroscik, Biles, Jade Carey, Rebeca Andrade, Nedoroscik —, Ireland’s Rhys McClenaghan, Peter Vidmar, It’s, Richardson, Jamaica’s Shericka Jackson, Jamaica’s Shelly, Ann Fraser, Pryce, Sha'Carri Richardson, Mallory Swanson, Alex Livesey, Sophia Smith, Trinity Rodman dazzled, Emma Hayes ’, Hayes, Davidson, Shaw, Ledecky, American Paige Madden, Ariarne, McIntosh, American Kate Douglas, Douglass, Crouser, Ryan Crouser, American Joe Kovacs, Germany’s Leo Neugebauer, Michael Steele, Damian Warner, Kevin Mayer of, Pierre LePage, Leo Neugebauer, Ayden Owens, Sander Skotheim, Franz Wagner, Orlando, Wagner, Andrej Isakovic Organizations: Paris Olympics, NBC, U.S, USA, Stade de France, Getty, United, Olympic, Canada, FIFA, New Zealand, Canadiens, Spain, Canada Soccer, La Defense, Ledecky, Kevin Mayer of France, Puerto Rico Locations: Paris, American, Sha'Carri, USWNT, Canada, women’s, United States, Japan, Germany, U.S, Colombia, France, Brazil, Los Angeles, Tokyo, Puerto, Norway, AFP
But you're going to struggle if you're looking for a new one. "Even a few months ago, the labor market seemed fine, the trajectory looked stable," said Guy Berger, director of economic research at the Burning Glass Institute, a think tank. The Fed therefore believes it can put a floor underneath the labor market that prevents it from deteriorating further, Berger said. "What we need to see is strong private-sector labor market growth, and outside of health care, what we've seen instead is a very, very rapid deceleration that has shown no signs yet of stabilizing," Pollak said. Pollak also said leisure and hospitality jobs — a key entry point into the labor market — have actually declined outright in recent months, putting further pressure on workers to secure employment.
Persons: Guy Berger, Berger, Jerome Powell, Bill Dudley, Julia Pollak, Pollak, we've Organizations: of Labor Statistics, Glass, Federal, Fed, New York Federal, Bloomberg Locations: U.S, haves
There are cracks forming in the US jobs market
  + stars: | 2024-08-02 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +9 min
CNN —The pandemic threw the US job market into chaos, but four years later, things finally seem to be back to normal. Most indicators support the idea that the labor market is no longer overheated and could easily maintain a new normal of steady, but slower growth. The unemployment rate is expected to hold steady at 4.1%, according to FactSet consensus estimates. “This is a labor market that’s otherwise moderated,” Nick Bunker, director of North American economic research at Indeed, told CNN. The same goes for the prime-age labor force participation rate, which at 83.7% also is the highest in 23 years.
Persons: hasn’t, Jerome Powell, Nick Bunker, Powell, Nancy Vanden Houten, , , , , Madhavi Bokil, Indeed’s Bunker, Bunker, ” Elise Gould, ” Bunker, “ It’s, Julia Pollak, ” Pollak, can’t Organizations: CNN, Federal, of Labor, Challenger, Economic Policy Institute, Locations: Oxford
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