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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. Such hopes, coupled with upbeat earnings reports, have put all three major Wall Street indexes on course for their biggest weekly percentage gain in about a year. Apple (AAPL.O) was an outlier, down 1.3% after its sales forecast for the holiday quarter fell short of Wall Street expectations. Most major S&P 500 sectors traded in the green, led by real estate (.SPLRCR), which jumped 3.3% to an over one-month high. The S&P index recorded 17 new 52-week highs and no new low, while the Nasdaq recorded 42 new highs and 51 new lows.

Persons: Brendan McDermid, nonfarm, Paul Nolte, Murphy, Russell, Amruta Khandekar, Sriraj Kalluvila, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Federal, Labor, Big, Fed, Sylvest Wealth Management, Federal Reserve, Treasury, Nvidia, Dow Jones, NYSE, Thomson Locations: New York City, U.S

☆ Instant View: US jobs growth slows more than expected in October
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

MARKET REACTION:STOCKS: U.S. stock futures (.SPX) rose after the jobs data.BONDS: U.S. Treasury 10-year yield dropped to three-week low after the jobs report, last yield down at 4.562%. FOREX: The dollar index fell after the weaker-than-expected jobs report. There's not a lot of breadth in the markets and there's not a lot of breadth in the job gains anymore." Back month revisions were substantial as the BLS has consistently overestimated job gains this year, unlike last year where they consistently underestimated the gains. "This is a good sign that the labor market is weakening and is playing into the hands of the Fed.

Persons: Elizabeth Frantz, Detroit's, BRIAN JACOBSEN, MENOMONEE, That's, PETER CARDILLO Organizations: REUTERS, United Auto Workers, UAW, Labor Department's Bureau of Labor Statistics, Treasury, BLS, Fed, Global Finance, Markets, Thomson Locations: Arlington , Virginia, U.S, WISCONSIN, September's

☆ Sharp U.S. Hiring Slowdown Signals Cooling Economy Ahead
▼ + stars: | 2023-11-03 | by ( David Harrison | ) www.wsj.com time to read: 1 min

The share of working-age people either working or looking for a job has climbed. Photo: Allison Joyce/Bloomberg NewsHiring slowed sharply in October, a sign the economy is cooling this fall following a hot stretch over the summer. U.S. employers added 150,000 jobs in October, down from the previous month’s revised gain of 297,000, the Labor Department said Friday. That was the smallest gain since June, with automakers having around 33,000 fewer workers on payroll because of the United Auto Workers strike. The unemployment rate rose to 3.9% from 3.8% the prior month.

Persons: Allison Joyce Organizations: Bloomberg, Labor Department, United Auto Workers

☆ What to Watch in Friday’s Jobs Report: How Long Can Labor Market Keep Booming?
▼ + stars: | 2023-11-03 | by ( David Harrison | ) www.wsj.com time to read: +1 min

Photo: Allison Joyce/Bloomberg NewsEmployers pulled back on hiring in October while handing out smaller annual raises, analysts said, which would be indications the labor market is slowly losing momentum. Economists estimate average hourly earnings rose 4% in October from the previous year, down from 4.2% in September. On a month-to-month basis, they see wage growth ticking up slightly. Easing hiring and wage growth could be a sign that the economy is starting to slow after a red-hot summer. On Wednesday, Federal Reserve Chair Jerome Powell pointed to the cooling labor market as one reason the central bank might not need to raise rates further.

Persons: Allison Joyce, aren’t, Jerome Powell Organizations: Bloomberg News Employers, Wall, Detroit, The Labor Department Locations: U.S

The government’s October jobs report is expected to show Friday that companies and government agencies added 184,000 jobs, a solid showing, though down sharply from a blockbuster 336,000 gain in September. The Fed scrutinizes the monthly job data to assess whether employers are still hiring and raising pay aggressively as a result of labor shortages. The Fed's policymakers are trying to calibrate their key interest rate to simultaneously cool inflation, support job growth and ward off a recession. At the same time, inflationary pressures have been easing as the Fed has sharply raised borrowing costs. In the meantime, despite long-standing predictions by economists that the Fed's ever-higher interest rates would trigger a recession, the U.S. economy, the world’s largest, remains sturdy.

Persons: ’ ’, Nancy Vanden Houten, ’ Vanden Houten, Vanden Houten, Jerome Powell Organizations: WASHINGTON, —, Federal Reserve, Oxford Economics, Federal, United Auto Workers, Detroit, Wage, Labor Department Locations: U.S, COVID

☆ Stocks rise on jobs data that Cramer says is 'going the right way'
▼ + stars: | 2023-11-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "If I wanted to see a number going the right way for employment, it would be this one," Jim Cramer said Friday. 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, Stocks, Nonfarm, Jim, Walt Disney, Wynn, Jim Cramer's Organizations: CNBC, Nasdaq, Labor, Federal Reserve, Treasury, Apple, Starbucks, Coterra Energy, Emerson, Hulu, Disney, Wynn Resorts, Jim Cramer's Charitable Locations: Macao

☆ Bad news for the economy is good news for the stock market ... as long as it doesn't get too bad
▼ + stars: | 2023-11-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on November 02, 2023 in New York City. Friday's market reaction to the jobs report comes down to a simple premise: bad news is good news, as long as it isn't too bad. Slow, controlled growth is something the markets and the Fed are seeking in the current climate, negative growth is not. Despite market pricing, it seems like cuts aren't around the corner if recent statements from Fed officials are any indication. You could imagine a scenario where inflation is starting to settle and you want to lower real rates.

Persons: Stocks, nonfarm, Mike Loewengart, We've, Michael Arone, Jerome Powell, Thomas Barkin Organizations: New York Stock Exchange, Labor Department, Federal Reserve, Fed, Morgan Stanley's Global Investment, Markets, Traders, Group, State Street Global Advisors, Richmond Fed, CNBC PRO Locations: New York City

☆ US job growth probably slowed in October due to UAW strike
▼ + stars: | 2023-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The anticipated moderation in employment growth last month would also be pay back after September's enormous gains, the largest in eight months. The Labor Department's closely watched employment report on Friday is expected to show labor market conditions steadily easing, with annual wage growth the smallest in nearly 2-1/2 years and significant growth in the supply of workers. Manufacturing payrolls are forecast falling 10,000 after advancing 17,000 in September. Last week, the BLS reported at least 30,000 UAW members were on strike during the period it surveyed businesses for October's employment report. Wages gains would still be above the 3.5% that economists say is consistent with the Fed's 2% target.

Persons: Brian Snyder, Detroit's, Sam Bullard, payrolls, Veronica Clark, we've, Sung Won Sohn, we're, Brian Bethune, that's, Lucia Mutikani, David Gregorio Our Organizations: Taylor Party, Equipment Rentals, REUTERS, UAW, United Auto Workers, Labor, Federal Reserve, Labor Department's Bureau of Labor Statistics, Manufacturing, BLS, Citigroup, UPS, Finance, Loyola Marymount University, Boston College, Thomson Locations: Somerville , Massachusetts, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles

☆ US job growth slows in October; unemployment rate rises to 3.9%
▼ + stars: | 2023-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Nonfarm payrolls increased by 150,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday. The economy needs to create roughly 100,000 jobs per month to keep up with growth in the working-age population. The report could strengthen financial market expectations that the Federal Reserve is done raising interest rates for the current cycle. The labor market is the major force behind the economy's staying power, with gross domestic product recording an annualized growth pace of nearly 5% in the third quarter. But others disagreed, saying that the record-setting contracts would only become an issue for wage inflation if the Fed raised rates too high and choked off demand.

Persons: Brian Snyder, Detroit's, Lucia Mutikani, Nick Zieminski Organizations: Taylor Party, Equipment Rentals, REUTERS, Rights, United Auto Workers, UAW, Labor Department's Bureau of Labor Statistics, Reuters, BLS, Federal, UPS, Thomson Locations: Somerville , Massachusetts, U.S

☆ Morning Bid: Stocks clocking best week of the year
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. The U.S. October employment report out later on Friday caps a hectic two weeks of central bank decisions, company updates and unnerving geopolitics. As the first major marker of U.S. economic strength in the final quarter of the year, the payrolls report packs a punch despite expected strike-related distortions. The interest rate relief this week is pervasive, however, as the Fed, ECB and BoE all paused tightening and U.S. Treasury debt sales worries ebbed somewhat. U.S. Treasury (.MOVE) and equity market (.BIX) volatility gauges have subsided to their lowest levels since early last month.

Persons: Brendan McDermid, Mike Dolan, BoE, ebbed, Antony Blinken, Sam Bankman, Fried, Michael Barr, Neel Kashkari, Huw Pill, Emelia Sithole Organizations: New York Stock Exchange, REUTERS, Mike, U.S, Federal Reserve, European Central Bank and Bank of England, Apple, Fed, ECB, Treasury, U.S . Treasury, Labor Department, Eversource Energy, Cardinal Health, Dominion Energy, Gartner, Church, Dwight, AMC, Liberty Media, Icahn Enterprises, Federal, Bank of England, Israel Productivity, Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, Isreal, Gaza, Gaza City, Canada, Minneapolis, Israel

☆ Oil heads for weekly loss as geopolitical risk premium wanes
▼ + stars: | 2023-11-03 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +3 min

Both benchmarks gained more than $2 a barrel on Thursday, but were on track to lose about 4% on the week. The report could bolster the view that the U.S. Federal Reserve need not raise interest rates further. The Fed held interest rates steady on Wednesday, while the Bank of England held rates at a 15-year peak. The stable policies kept oil prices supported as some risk appetite returned to markets. "The oil market will be watching for an escalation of tensions, particularly on the Lebanese border, as Hezbollah attacks increase," City Index Fiona Cincotta said.

Persons: Jussi Rosendahl, Brent, Fiona Cincotta, Sayyed Hassan Nasrallah, Israel, Jeslyn Lerh, Mark Potter Organizations: REUTERS, U.S, West Texas, National Bureau, Statistics, U.S . Labor Department, U.S . Federal, Fed, Bank of, Palestinian, Thomson Locations: Porvoo, Finland, China, Bank of England, Gaza, Lebanese, Saudi Arabia, Singapore

☆ SNAPSHOT Futures turn positive after October jobs data
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +1 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 26, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 3 (Reuters) - U.S. stock index futures turned positive on Friday as a weaker-than-expected job growth report underscored investor expectations that the Federal Reserve was done with its tightening campaign. The Labor Department's report showed nonfarm payrolls increased by 150,000 jobs in October, against expectations of a 180,000 increase. ET, Dow e-minis were up 110 points, or 0.32%, S&P 500 e-minis were up 13.25 points, or 0.31%, and Nasdaq 100 e-minis were up 37.75 points, or 0.25%. Reporting by Shristi Achar A in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, nonfarm, Shristi Achar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Federal, Labor, Dow e, Nasdaq, Thomson Locations: New York City, U.S, Bengaluru

Bond yields fell, and traders of contracts tied to the Fed's policy rate now see only a 12% chance of a rate hike by January, down from 30% before the release of the employment report. Rate futures pricing now reflects a better-than-even chance of a Fed rate cut by May of 2024, with several more cuts expected later next year. U.S. central bankers themselves are not even thinking about rate cuts, Fed Chair Jerome Powell said this week after the Fed kept its benchmark overnight interest rate steady in the 5.25%-5.50% range. "Continued upward momentum would be troubling, and hopefully this recent rise levels off as the labor market recovery continues," said Indeed.com's Nick Bunker. Still for now, most of the worries about the labor market appear to be focused on what might, or might not, happen next rather than on the evidence so far.

Persons: Jerome Powell, Kevin Lamarque, nonfarm, Bond, Powell, Thomas Barkin, Barkin, Michael Feroli, Nick Bunker, Sharif, Julie Su, Ann Saphir, Shristi Achar, Tomasz Janowski, Christina Fincher, Paul Simao, Chris Reese Organizations: Federal, Committee, Federal Reserve, REUTERS, Labor Department, U.S, Fed, Reuters Graphics Reuters, Richmond Fed, CNBC, JPMorgan, Reuters Graphics, Labor, Thomson Locations: Washington , U.S

☆ Here are 4 big trades for the portfolio this week and 2 difficult rating changes
▼ + stars: | 2023-11-03 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +5 min

Our trades and decisions on stock ratings were driven more by earnings, company-specific developments and portfolio management rather than any broad commentary on the market. The stock soared more than 5% on the news, adding to those gains throughout the rest of the week. Estee Lauder's new "Profit Recovery Plan" provided little comfort because it's not expected to kick in until the company's fiscal years 2025 and 2026. 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.

Persons: week's, Ford, Estee Lauder, Estee, it's, Veralto, Locker, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Dow Jones, Nasdaq, Federal Reserve, U.S . Labor Department, Ford, United Auto Workers, GE HealthCare Technologies, Oracle, DuPont de Nemours, DuPont, CNBC, Traders, New York Stock Exchange, Getty Locations: oversold, China, FL, New York City

The economy added 150,00 jobs in October, suggesting a mild slowdown following September’s outsized gain, the Labor Department reported on Friday. Nonfarm payrolls comes in a bit light, downward revisions to previous 2 months and wage growth on the low end. On the margin it feels like it has softened up, but it's still a mighty hot job market,” says Steve Preston, CEO of Goodwill Industries. The Federal Reserve has been looking to the labor market for signs it has reached a better balance between supply and demand than a year ago. Chairman Jerome Powell noted that the labor market has remained strong even as interest rates have risen at a sharp pace over the past year.

Persons: ”, Noah Yosif, Nonfarm payrolls, ” Kathy Jones, it's, Steve Preston, ” Preston, Geno Cutolo, Scott Hamilton, ” Hamilton, Jerome Powell, “ We've Organizations: Labor Department, UKG, ”, Schwab Center, Financial Research, Goodwill Industries, Federal Reserve, Labor Locations: North America

☆ The Dow soars more than 560 points as markets bet the Fed is done with rate hikes
▼ + stars: | 2023-11-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

New York CNN —US stocks soared higher again on Thursday as investors bet that the Federal Reserve’s current round of economically painful rate hikes might be over. Both the S&P 500 and Dow are on track to notch their largest weekly gains this year and the Dow closed its best day since June. Tech stocks pulled markets higher Thursday, with shares of Tesla up nearly 6.3% and shares of Nvidia up about 2.8%. While all 11 sectors of the S&P 500 were trading higher on Thursday, there were some notable outliers. Shares of Airbnb were down 3.3% after the company beat on third-quarter revenue earnings but lowered its forward guidance.

Persons: Jerome Powell, ”, Louis Navellier Organizations: New, New York CNN, Federal, Dow, Nasdaq, Treasury, Navellier, Associates, Labor, Labor Department, Apple, Tech, Nvidia, Meta, Facebook Locations: New York

☆ Labor costs show surprise decline in the third quarter
▼ + stars: | 2023-11-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The cost of labor unexpectedly declined in the third quarter, providing at least some relief on the inflation front, the Labor Department reported Thursday. Unit labor costs, a measure of hourly compensation against productivity, fell 0.8% for the July-through-September period at a seasonally adjusted rate. On a 12-month basis, unit labor costs increased 1.9%. The developments come as the Federal Reserve is seeking to tamp down inflation through a series of interest rate increases. Continuing claims, which run a week behind, totaled 1.82 million, an increase of 35,000 and higher than the 1.81 million FactSet estimate.

Persons: Dow Jones, Jerome Powell Organizations: Labor Department, Federal Reserve Locations: Manhattan , NY

Unemployment claims rose by 5,000 to 217,000 for the week ending Oct. 28, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Overall, 1.82 million people were collecting unemployment benefits the week that ended Oct. 21, about 35,000 more than the previous week and the most since April. Part of the Fed’s goal is too cool the economy and labor market, which in turn would slow price growth. Though the unemployment rate rose from 3.5% to 3.8%, that’s mostly because about 736,000 people resumed their search for employment.

Organizations: Federal, Labor Department Locations: U.S

☆ Here's what to watch in Friday's big October jobs report
▼ + stars: | 2023-11-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Don't hold your breath looking for that big of a decline, said Amy Glaser, senior vice president at global staffing firm Adecco. We're still seeing resilience in the market," Glaser said. Indeed, a potentially important trend has been the hiring of part-time workers in recent months. Strike impactClose to half a million American workers have gone on strike in recent months. While a number of those high-profile stoppages have been resolved, some of the activity will show up in the October jobs report.

Persons: you've, payrolls, Dow Jones, Amy Glaser, We're, Glaser, Jerome Powell, Jeffrey Roach, Roach, Homebase Organizations: Labor Department, Federal Reserve, LPL, Employers, of Labor Statistics, United Auto Workers

WASHINGTON (AP) — Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the U.S. job market remains strong even as the U.S. Federal Reserve attempts to cool the economy. Layoffs fell to 1.5 million from 1.7 million in August, more evidence that workers enjoy an unusual degree of job security. The number of Americans quitting their jobs — a sign of confidence they can find better pay elsewhere — was virtually unchanged. The September openings are down from a record 12 million in March 2022 but remain high by historical standards. Before 2021 — when the American economy began to surge from the COVID-19 pandemic — monthly job openings had never topped 8 million.

Persons: — Organizations: WASHINGTON, — Employers, U.S . Federal, Labor Department Locations: U.S, American

☆ Private sector payrolls rose 113,000 in October, less than expected, ADP says
▼ + stars: | 2023-11-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Private sector payroll growth increased modestly in October but missed expectations, in a potential sign that the employment picture could be darkening, ADP reported Wednesday. On wages, ADP said pay was up 5.7% from a year ago, the smallest annual gain since October 2021. "In all, October's numbers paint a well-rounded jobs picture. The release comes two days ahead of the Labor Department's official nonfarm payrolls report, which is expected to show an increase of 170,000 and includes government jobs, unlike ADP. The counts from ADP and the government can differ substantially, as they did in September when the Labor Department reported a gain of 336,000, more than three times the ADP estimate.

Persons: Dow Jones, Nela Richardson, it's Organizations: CVS Health Corp, Dow, Labor, Labor Department Locations: San Francisco , California

☆ Fed holds rates steady, upgrades assessment of economic growth
▼ + stars: | 2023-11-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

watch nowThe Federal Reserve on Wednesday again held benchmark interest rates steady amid a backdrop of a growing economy and labor market and inflation that is still well above the central bank's target. This was the second consecutive meeting that the Federal Open Market Committee chose to hold, following a string of 11 rate hikes, including four in 2023. He also said the risks around the Fed doing too much or too little to fight inflation have become more balanced. The increases have been targeted at easing economic growth and bringing a supply and demand mismatch in the labor market back into balance. The post-meeting statement indicated that the Fed sees the economy holding strong despite the rate hikes, a position in itself that could prompt policymakers into a prolonged tightening stance.

Persons: Stocks, Jerome Powell, Powell, Charlie Ripley Organizations: Federal Reserve, Federal, Market, Dow Jones Industrial, Allianz Investment Management, Gross, Labor Department, Fed, Group Locations: hasn't

Private employers added 113,000 workers in October, led by the education and health care sectors, payroll firm ADP said on Wednesday. “No single industry dominated hiring this month, and big post-pandemic pay increases seem to be behind us,” said ADP Chief Economist Nela Richardson. Political Cartoons on the Economy View All 605 ImagesThe ADP report kicks off the week’s focus on employment data. “The 1.1% rise in the Employment Cost Index in Q3 was a touch stronger than expected but showed labor cost pressures continue to slowly ease on trend,” said Wells Fargo economists. “With the ECI still running north of 4%, labor cost growth remains too high to be consistent with the Fed's 2% inflation target.

Persons: ”, Nela Richardson, “, it's, Wells, Rucha Vankudre, ” Vankudre Organizations: Labor Department, “

The labor market continues to show resilience, with the number of job openings barely budging in late September at 9.6 million, the Labor Department said on Wednesday. Economists had predicted job openings would decline to around 9.278 million, but the number at 9.6 million was more or less in line with the revised 9.5 million a month earlier. Job openings increased in accommodation and food services with 141,000 positions added as well as in arts, entertainment, and recreation, up by 39,000. While that was below estimates of a 150,000 gain, it was an increase from the 89,000 jobs created in September. The Federal Reserve has been looking for the labor market to slow, and on Friday the government will report the number of jobs created in October.

Persons: Economists, ”, Gargi Chaudhuri Organizations: Labor Department, Federal Reserve Locations: Americas

☆ U.S. Job Openings Were Steady in September
▼ + stars: | 2023-11-01 | by ( Santul Nerkar | More About Santul Nerkar | ) www.nytimes.com time to read: +3 min

The Federal Reserve closely monitors job openings to understand whether the economy is running too hot. The overall trend of slowing job openings is a sign that rate increases have cooled the economy, according to experts. Job openings, which reached a record of more than 12 million in March 2022, have trended down, as has the job-quitting rate, while separations have been flat. As openings rose slightly in September, the number of openings per unemployed worker was flat, at 1.5, the same as August. Job openings remain much higher than they were before the pandemic, and the number of unemployed workers per job opening is much lower.

Persons: Julia Pollak, ”, Sarah House, Stephen Juneau, What’s Organizations: Federal Reserve, Fed, ” Fed, Bank of America, Treasury, Labor Department Locations: Wells Fargo, September’s

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