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☆ How Cramer makes sense of the 'great bottom' of 2023
▼ + stars: | 2023-12-03 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

We've seen a stock rally that can't seem to quit. Probably when the supply of stock comes to market through IPOs and we get a weak bond auction that causes the bond market to hiccup. So now, you just got my best lesson about the great bottom of 2023. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. The New York Stock Exchange is seen during morning trading on December 01, 2023 in New York City.

Persons: It's, devolves, Jamie Dimon, Elon Musk, Josh Frost, –, we've, unawares, We've, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Federal, Fed, JPMorgan, Tesla, Club, Microsoft, Google, Apple, Labor Department, Jim Cramer's Charitable, CNBC, The New York Stock Exchange, Santiago, Getty Locations: IPOs, New York City

HONG KONG (AP) — Asian shares declined on Friday even after Wall Street closed out its best month of the year with big gains in November. Thursday on Wall Street, the S&P 500 rose 0.4% to 4,567.80. Cloud-computing company Snowflake rose 7% after also giving Wall Street an encouraging financial forecast. Compared with a year ago, consumer prices rose 3% in October, below the 3.4% annual rate in September. That was the lowest year-over-year inflation rate in more than 2 1/2 years.

Persons: Brent, Hang Seng, Caixin, Korea’s Kospi, Australia’s, India’s Sensex, Dow Organizations: New York Mercantile Exchange, Nikkei, Nasdaq, Dow, Federal Reserve, Commerce Department, Labor Department, Fed, Treasury Locations: HONG KONG, Shanghai

Slightly more Americans filed for jobless claims last week, but the overall number of people in the U.S. collecting unemployment benefits rose to its highest level in two years. Applications for unemployment benefits rose by 7,000 to 218,000 for the week ending Nov. 25, the Labor Department reported Thursday. However, 1.93 million people were collecting unemployment benefits the week that ended Nov. 18, about 86,000 more than the previous week and the most in two years. Jobless claim applications are seen as representative of the number of layoffs in a given week. It was the lowest year-over-year inflation rate in more than 2 1/2 years.

Persons: it’s Organizations: Labor Department, Employers, Federal, Commerce Department

☆ Fed's favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
▼ + stars: | 2023-11-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on a year-over-year basis, the Commerce Department reported. Energy prices fell 2.6% on the month, helping keep overall inflation in check, even as food prices increased 0.2%. Goods prices saw a 0.3% decrease while services rose 0.2%. On the services side, the biggest gainers were international travel, health care and food services and accommodations. I'm hearing normalizing, not recession, but I am hearing consumer slowing down."

Persons: Dow Jones, Stocks, Bonds, Bill Adams, John Williams, Thomas Barkin Organizations: Federal Reserve, Commerce Department, Energy, Dow Jones, Treasury, Labor, Fed, Labor Department, Comerica Bank, . New York Fed, Richmond Fed, CNBC, European Central Bank, CNBC PRO Locations: ., New York

☆ US consumer spending slows; labor market steadily easing
▼ + stars: | 2023-11-30 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

Those hopes were reinforced by other data on Thursday showing the labor market gradually easing. Though wages remain elevated, the pace of increase has slowed from earlier in the year as the labor market eases. Personal consumptionINFLATION COOLINGInflation as measured by the personal consumption expenditures (PCE) price index was unchanged in October after rising 0.4% in September. Stripping out housing, the core PCE price index edged up 0.1% after gaining 0.3% in September. Still, the labor market is cooling in tandem with overall demand in the economy.

Persons: Sarah Silbiger, Jerome, Powell, Conrad DeQuadros, Nancy Vanden Houten, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: El Progreso Market, Washington , D.C, REUTERS, Brean, Commerce Department's, United Auto Workers, Treasury, Fed, Labor Department, Oxford Economics, Thomson Locations: Mount Pleasant, Washington ,, New York, outlays, U.S

☆ It’s holiday season. That means layoffs for some
▼ + stars: | 2023-11-28 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +8 min

But they bring an extra bite when they are carried out during the holiday season. How does your employer’s severance policy compare? US employers are under no legal requirement to provide severance unless you are under a contract that provides for it. Check your employer’s severance policy: See if your employer has posted its severance policy on the company’s internal site. That’s a big jump from the average that employees pay today for workplace health coverage: 28% of the total cost for family coverage and 17% for single coverage.

Persons: Charles Schwab, “ We’ve, ”, Andrew Challenger, Challenger, Randstad, let’s, Tiffany Aliche, Aliche, “, Ann Minnium, You’re Organizations: New, New York CNN, Citigroup, Vice Media, Continental, Challenger, National Labor Relations Board Locations: New York

☆ This low-stress, in-demand job can be done remotely and pays more than $100K/year—it’s ‘a winner,’ says expert
▼ + stars: | 2023-11-26 | by ( Gili Malinsky | ) www.cnbc.com time to read: +3 min

A majority, 64% say pay and benefits are critical factors in accepting a job offer, according to a 2022 Gallup poll of 13,085 U.S. employees. The job often requires a bachelor's degree, specifically focused on a field like mathematics or statistics, and experience in the role. "There might be more of a need to assess what the risk would be like, say, for tornadoes, floods, hurricanes, etc." The Labor Department's Occupational Information Network ranked 873 occupations based on stress tolerance, or whether or not the job "requires accepting criticism and dealing calmly and effectively with high-stress situations." Check out:10 low-stress jobs that pay more than $100,000 per year and how to get themThe least stressful job that pays over $100K, according to data—and how to get itHow to spot red flags of a stressful job before you even take it

Persons: Gallup, Vicki Salemi, Warren Buffett Organizations: Bureau of Labor Statistics, Actuaries, Actuarial Society, Labor, Occupational

☆ 'Retirement isn't that easy': 3 people on working into their 90s and 100s
▼ + stars: | 2023-11-25 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

Jayne Burns, Bob Rohloff and Melba Mebane are part of a fast-growing share of the workforce: Americans working past 75. Many Americans are working into their 70s and 80s — or longer — because of longer life spans, changing attitudes about retirement and insufficient savings. Mebane began working as an "elevator girl" at the Mayer & Schmidt department store in 1949 when she was just 17 years old, through a work-study program at Tyler High School. During her tenure at Dillard's, Mebane had several opportunities to become a manager, but she always turned the offers down. Those friendships, Mebane says, made working at Dillard's "the best job I ever had."

Persons: Jayne Burns, Bob Rohloff, Melba Mebane, Elizabeth HusVar Jayne Burns, Joann, Burns, Dick, Donna Burns, Donna, Terry Mebane Melba Mebane, Mebane, William T, Dillard, Mark Karweick Organizations: Bureau of Labor Statistics, Labor Department, CNBC, Crafts, Mayer & Schmidt, Tyler High School, Dillard's Locations: U.S, Mason , Ohio, Dillard's, Tyler , Texas

☆ Dollar climbs after U.S. labor, consumer sentiment data
▼ + stars: | 2023-11-22 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

"The fact that we are seeing a drop definitely suggests that the labor market is not cooling as quickly as markets or the Fed might have been expecting there," said Karl Schamotta, chief market strategist at Corpay in Toronto. Schamotta also said market participants were maintaining relatively high dollar positions before liquidity dries up before the U.S. Thanksgiving holiday on Thursday. The greenback extended gains after the University of Michigan's survey of consumer sentiment showed U.S. consumers' inflation expectations rose for a second straight month in November. UMich inflation expectationsThe dollar index rose 0.37% to 103.9, on track for its biggest one-day percentage gain since Nov 9. The Japanese yen weakened 0.82% to 149.61 per dollar, while Sterling was last trading at $1.249, down 0.37% on the day.

Persons: Karl Schamotta, Schamotta, CME's, policymaker Mario Centeno, Joachim Nagel, Sterling, Jeremy Hunt, Changpeng Zhao, Zhao, Chuck Mikolajczak, Will Dunham, Richard Chang Organizations: Labor Department, Reuters, United Auto Workers, UAW, Detroit's Big, Federal, Fed, University of Michigan's, European Central Bank, Investors, Thomson Locations: Toronto, U.S

☆ Dollar strengthens after U.S. labor, consumer sentiment data
▼ + stars: | 2023-11-22 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +3 min

Schamotta also said market participants were maintaining relatively high dollar positions before liquidity dries up before the U.S. Thanksgiving holiday on Thursday. The Fed minutes showed Fed officials said inflation remained well above their target but noted that rates would need to be raised only if new data showed insufficient progress on reducing price pressures. The greenback extended gains after the University of Michigan's survey of consumer sentiment showed U.S. consumers' inflation expectations rose for a second straight month in November. The dollar index rose 0.64% at 104.17 and was on track for its biggest one-day percentage gain since Oct 24. The Japanese yen weakened 0.86% versus the greenback at 149.66 per dollar, while Sterling was last trading at $1.246, down 0.65% on the day.

Persons: Karl Schamotta, Schamotta, CME's, Mario Centeno, Sterling, Chuck Mikolajczak, Will Dunham Organizations: Labor Department, Reuters, United Auto Workers, UAW, Detroit's Big, Federal, Fed, University of Michigan's, European Central Bank, Thomson Locations: Toronto, U.S

WASHINGTON (AP) — The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates. The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The four-week moving average of claims, which smooths out week-to-week volatility, fell by 750 to 220,000. Overall, 1.84 million Americans were receiving unemployment benefits the week that ended Nov. 11, down by 22,000 from the week before. The job market and economic growth remained surprisingly resilient, defying predictions that the economy would slip into a recession this year.

Persons: —, it's, ″, Rubeela Farooqi Organizations: WASHINGTON, Labor Department, Federal, Employers Locations: United States

☆ US weekly jobless claims fall; business spending on equipment softening
▼ + stars: | 2023-11-22 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Though the weekly jobless claims report from the Labor Department on Wednesday also showed unemployment rolls declining for the first-time since mid-September, they remained near the highs for this year. The claims data covered the period during which the government surveyed businesses for the nonfarm payrolls component of November's employment report. Continuing claims fell 22,000 to 1.840 million during the week ending Nov. 11, the claims report showed. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, dipped 0.1% last month, the Commerce Department's Census Bureau said. Business spending on equipment spending contracted in the third quarter.

Persons: Andrew Kelly, Nancy Vanden Houten, Unadjusted, Lucia Mutikani, Paul Simao Organizations: REUTERS, Labor Department, Oxford Economics, Reuters, Fed, Bank of America Institute, Commerce Department, Commerce, Data, Thomson Locations: Manhattan , New York City, U.S, WASHINGTON, New York, California, Kentucky , Oregon , Kentucky, Illinois, Texas, Commerce Department's

☆ 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

☆ Morning Bid: Treasury yields dive as oil craters, economy softens
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +5 min

U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.

Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco

Research prepared for a Boston Federal Reserve labor market conference found that whether driving for Uber to make ends meet or taking piecework jobs in retirement, casual contract workers sometimes don't consider themselves "employed" or even a part of the labor force. The research involved reexamining the detailed responses to a New York Fed survey of "informal work" from 2015 through 2022. Other research looked at how job training and policies towards employing those with a criminal record might help. Their research found many gig workers want additional hours of formal employment, suggesting more untapped labor supply. "And the higher levels of activity and participation can benefit those brought into the labor market, contributing to a vibrant economy that works for all."

Persons: Mike Segar, Uber, Anat Bracha, Mary A, Burke, Bracha, rehashed, Jerome Powell, Susan Collins, Collins, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, Rights BOSTON, Federal, Boston Federal Reserve, Hebrew University Business School, Boston Fed, Fed, New, Labor, Boston, Thomson Locations: New York City , New York, U.S, Jerusalem

Cooler-than-expected inflation data could push stocks higher, especially those that benefit the most from a decline in the cost of money. MGM stock has added more than 21% from the start of the year, while Caesars has climbed about 11%. Elsewhere, Solar Battery company SunRun also made the cut, and average analysts polled by FactSet/Refinitiv implies nearly 89% upside moving forward. Shares have pulled back more than 52% from the start of the year as higher interest rates pressure the overall solar sector . RUN YTD mountain SunRun stock.

Persons: Russell, SunRun Organizations: Labor Department, CPI, Dow Jones, Federal Reserve, CNBC, Treasury, MGM International, Caesars Entertainment, MGM, Caesars, Las, Solar Battery, FactSet, BMO Capital Markets, Dish Network, AES Corporation Locations: Las Vegas

☆ Fed's Mester wants 'much more evidence' that inflation has been defeated
▼ + stars: | 2023-11-16 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

"We're making progress on inflation, discernible progress. "We're going to have to see much more evidence that inflation is on that timely path back to 2%. But we do have really good evidence that it has made progress and now it's just, is it continuing?" Following the reports, market pricing in the futures market completely eliminated the possibility that the Fed would be approving any additional interest rate hikes. Comparing the Fed's position to navigating a ship, Mester said, "We're at the crow's nest.

Persons: Loretta Mester, Mester, CNBC's Steve Liesman, hasn't Organizations: Cleveland Federal, Labor Department Locations: midyear

More Americans filed for jobless claims last week and while the labor market remains broadly healthy, there have are growing signs that it may finally be cooling. Applications for unemployment benefits rose by 13,000 to 231,000 for the week ending Nov. 11, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. The Federal Reserve has been tapping the brakes on the economy and the labor market for nearly two years, trying to stem what was the highest inflation in four decades. It was the sixth straight week that continuing claims rose.

Persons: ”, Rubeela Farooqi, Nancy Vanden Houten, Jerome Powell Organizations: Labor Department, Federal Reserve, Fed, “, Oxford Economics, ”

☆ Walmart CEO says food deflation may come soon
▼ + stars: | 2023-11-16 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Lower grocery prices may soon be coming for shoppers. Food prices have increased 25% since the pandemic started. The pace of food inflation has slowed in recent months, but food prices are mostly still going up. Food prices rose 3.3% annually in October from a year ago, according to the latest reading from the Labor Department. If you think prices will go down in the future, you may delay making a lot of purchases today.

Persons: Doug McMillon, ” McMillon, CNN’s Elisabeth Buchwald Organizations: New, New York CNN, Walmart, Labor Department, Federal Reserve Locations: New York, United States, Japan

☆ Deflation could be coming this holiday season, Walmart CEO says
▼ + stars: | 2023-11-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Shoppers may get an early present this holiday season: falling prices in many gift-giving categories. On Thursday, Walmart CEO Doug McMillon said deflation could be coming as general merchandise and key grocery items, such as eggs, chicken and seafood get cheaper. Across most categories, Americans are still spending more on the same items, according to the latest CPI numbers. Walmart's McMillon said some stubborn food prices continue to be a concern.

Persons: Barbie, Doug McMillon, it's, Richard McPhail, John David Rainey, Rainey, Walmart's McMillon Organizations: Walmart, Shoppers, Labor Department, CPI, Home, American Farm Bureau Federation, Wall, CNBC Locations: Burbank , California, U.S

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. Shares of Cisco Systems (CSCO.O) shed 11.5% as the communications and networking firm cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. However, regional (Fed) authorities have very diverse opinions and (it) confuses investors," said Peter Andersen, founder of Andersen Capital Management in Boston. However, Andersen said he is still optimistic about the possibility of a soft landing for the economy and a year-end rally. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and for a 1.45-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Peter Andersen, Andersen, Michael Barr, Li Auto, Joe Biden, Xi Jinping, advancers, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Cisco, Dow, Nasdaq, Walmart, Cisco Systems, Target, U.S . Federal, Andersen Capital Management, Treasury, Labor, Dow Jones, Palo Alto Networks, Baidu, U.S, NYSE, Thomson Locations: New York City, U.S, Boston, billings, Bengaluru

☆ US weekly jobless claims at three-month high; import prices tumble
▼ + stars: | 2023-11-16 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

Job growth slowed in October and the unemployment rate climbed to 3.9%, the highest level since January 2022. Import prices dropped 0.8% last month after rising 0.4% in September. Economists had forecast import prices, which exclude tariffs, falling 0.3%. In the 12 months through October, import prices declined 2.0% after decreasing 1.5% in September. Excluding fuels and food, import prices dropped 0.2% after dipping 0.1% in September.

Persons: Andrew Kelly, Nancy Vanden Houten, Unadjusted, Goldman Sachs, Lou Crandall, Wrightson, Lucia Mutikani, Andrea Ricci Organizations: REUTERS, Labor Department, Oxford Economics, Reuters, Goldman, Treasury, Fed, Reuters Graphics, Labor Department's Bureau of Labor Statistics, Consumer, Thomson Locations: Manhattan , New York City , New York, U.S, WASHINGTON, New York, Massachusetts, Oregon, Georgia, United States, China

☆ Wholesale prices fell 0.5% in October for biggest monthly drop since April 2020
▼ + stars: | 2023-11-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Wholesale prices in October posted their biggest decline in 3½ years, providing another indication that the worst of the inflation surge may have passed. Final demand services prices were unchanged. Some 80% of the drop in goods prices came from a 15.3% tumble in gasoline prices, the Labor Department said. Airline passenger services prices increased 3.1%. Correction: Wholesale prices in October posted their biggest decline in 3½ years.

Persons: Dow Jones, Price, Stocks Organizations: Dow, Labor Department, PPI, Federal, Airline, Commerce Department, Empire, Manufacturing Survey, New York Federal Reserve Locations: New York

☆ US producer prices unexpectedly fall in October
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Goods prices dropped 1.4% in October, with a 15.3 plunge in gasoline prices accounting for more than 80% of the decline. Goods prices rose 0.8% in September. Food prices fell 0.2%. Excluding the volatile energy and energy components, goods prices edged up 0.1% last month. These so-called core goods prices rose 0.2% in September.

Persons: Lucia Mutikani Organizations: Labor Department's Bureau of Labor Statistics, PPI, Reuters, Fed, Thomson Locations: U.S

☆ Maryland has the lowest unemployment rate in American history, at just 1.6%
▼ + stars: | 2023-11-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

The mid-Atlantic state registered a record unemployment rate of 1.6% in September — less than half the national unemployment rate of 3.8% that month — Labor Department data shows. That’s the lowest seasonally adjusted unemployment rate of any state on records going back to 1976, according to a CNN analysis. However, Maryland’s job market is still robust, with government and health care employers adding jobs at a brisk pace. Here’s a dive into the labor market of the state with the lowest unemployment rate in American history:Where the jobs areThe biggest industries in Maryland are government, health care, education and professional services. Fort Meade, a military base, is the largest employer in the state, according to Moody’s Analytics.

Persons: ” Christina DePasquale, Johns, Colin Seitz, “, ” Seitz, There’s, ”, Mary Kane, what’s, Kane, ” Daniel Zhao, ” Zhao Organizations: DC CNN, — Labor Department, CNN, Baltimore, Fort Meade, University, of Maryland, Johns Hopkins University, Labor Department . State, Health, Johns Hopkins Carey Business School, Moody’s, Maryland, Bureau of Labor Statistics, Maryland Hospital Association, Labor, Maryland Chamber of Commerce, “, Maryland Department of Labor, DC Locations: Washington, Atlantic, California, Lexington, Maryland, Fort, Florida, Texas, Virginia

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