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☆ These top 5 dividend stocks will consistently increase payments to investors, and are poised to rebound during a surprisingly strong 4th quarter, according to the CIO at a $250 billion hedge fund
▼ + stars: | 2023-10-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Consensus estimates for the third quarter were recently lowered with expectations for flat revenue growth and slightly positive earnings growth. The three stocks below are also growing revenues, earnings, cash flows, and dividends as they have fundamentally attractive businesses that are less cyclical. Motorola Solutions (MSI) is a video and telecommunications equipment, software, systems, and services provider with an annual yield of 1.28%. It has an annual yield of 1.38%. And Eaton Corporation (ETN), is a power management company with an annual yield of 1.68%.

Persons: Saira Malik, Malik, I'm Organizations: Investors, Treasury, Retail, Walmart, Motorola Solutions, Linde, Eaton Corporation

Slightly more Americans applied for jobless claims last week, but layoffs remain low and the labor market continues to show resiliency amid elevated interest rates imposed by the Federal Reserve. Applications for unemployment benefits ticked up by 2,000 to 207,000 for the week ending Sept. 30, the Labor Department reported Thursday. Jobless claim applications are considered a proxy for the number of layoffs in a given week. Though the unemployment rate ticked up to 3.8%, it’s still low by historical measures. Overall, 1.67 million people were collecting unemployment benefits the week that ended Sept. 23, about 5,000 fewer than the previous week.

Organizations: Federal Reserve, Labor Department

WASHINGTON (AP) — The global economy has shown “remarkable resilience’’ but still bears deep scars from the coronavirus pandemic, the war in Ukraine and rising interest rates, the head of the International Monetary Fund said Thursday. The United States, she said, “is the only major economy where output has returned to its pre-pandemic path. Weighing on global growth is China’s disappointing recovery despite the lifting late last year of draconian zero-COVID policies, which had crippled commerce in the world's second-biggest economy last year. She said the odds are rising that global economy can manage a “soft landing’’ — avoiding recession even while bringing down inflationary pressure. “Fighting inflation is the number one priority,’’ she said, urging central banks to keep interest rates “higher for longer.

Persons: “, Kristalina Georgieva, Georgieva, ’, Sam Metz Organizations: WASHINGTON, International Monetary Fund, IMF, World Bank, Global, U.S . Federal Reserve, Bank, Associated Press Locations: Ukraine, Abidjan, Ivory Coast, United States, Marrakesh, Morocco, Rabat

☆ SpaceX's mega-rocket has a 'decent chance' of making orbit on its next flight, Musk said. Last time, Starship blew up the launchpad and exploded in mid-air.
▼ + stars: | 2023-10-05 | by ( Sonam Sheth | Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Elon Musk said he thinks Starship has a "decent chance" of reaching orbit on its second test flight. AdvertisementAdvertisementSpaceX CEO Elon Musk said Thursday the company's Starship vehicle has a "decent chance" of making orbit on its second test flight. But it has yet to reach orbit. AdvertisementAdvertisement"Technically, it's a scooch below orbit," Musk said Thursday. Tripathi added that he would consider this second test flight to be a success if two things happen.

Persons: Elon Musk, Musk, —, we've, Ashlee Vance, Vance, Abhi Tripathi, Tripathi Organizations: Service, International Astronautical Federation, SpaceX

The pickle-wardrobe mania is emblematic of what sets TikTok Shop apart from e-commerce competitors like Shopify and Amazon. Just like TikTok's non-shopping content, TikTok Shop is built around viral videos, be it a surge in viewer interest in pickle-jar sweatshirts or a mad rush to buy freeze-dried Skittles . For UK sellers, chasing virality still seems to be the defining characteristic of the TikTok Shop experience. Jessica Slone runs TikTok shop Bad Addiction Boutique, which has sold tens of thousands of pickle-jar sweatshirts. "TikTok Shop is kind of this roller coaster, and right now it's on this amazing uphill journey.

Persons: TikTok, Dill, Frank Bloomer, Ashley Martinez, Michael Herling, I'm, it's, Herling, Jessica Slone, Slone, TikTok's, Lindzi Shanks, Shanks, TikTok doesn't, Virality, Laura Ritchey, Sellers, Julia Cote, hadn't, influencers, they'd, Ben Muir, virality, Hira Tariq, who's, Candy, there'll, It's, Boutique's Slone Organizations: US, TikTok Shop, Shipping Locations: Grillo's, West Texas

☆ Gas prices could fall to $3.25 by Halloween as oil plunges
▼ + stars: | 2023-10-05 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —After spiking to alarming levels just last week, oil prices are suddenly in free-fall mode. US oil prices plunged by 5.6% to $84.22 a barrel on Wednesday, marking the biggest one-day decline in a year. Now, gas prices are already starting to retreat and experts predict sharper drops to come. That’s 11 cents below the 2023 peak set last month when gas prices experienced an unusual post-Labor Day jump. Boom to bustSo why did oil prices go from spiking to plunging?

Persons: Andy Lipow, Tom Kloza, Kloza, ” Kloza, “, Joe Brusuelas, ”, Matt Smith, ” Smith, There’s Organizations: New, New York CNN, AAA, Labor, Lipow Oil Associates, CNN, Oil Price Information Service, “, Federal Reserve, RSM, Fed, Saudi, Americas Locations: New York, Saudi Arabia, Kpler, Ukraine

☆ Centenary World Cup will be utterly unrecognisable from 1930
▼ + stars: | 2023-10-04 | by ( Mitch Phillips | ) www.reuters.com time to read: +3 min

In contrast to the little-noticed 1930 event, in 2030 billions of eyes, via technology unimaginable almost 100 years ago, will be focused on every minute of action. Instead of 13 teams, almost a quarter of the world's countries will be in action after the expansion of the tournament to 48 teams for 2026. For the modern fan it is almost impossible to visualise the 1930 World Cup. There was no qualification process for the 1930 tournament, instead the entire world was invited. Egypt were due to fly the flag for Africa but missed their connecting ship leaving an unwieldy 13 teams in the competition.

Persons: Jack Coll, Mitch Phillips, Toby Davis Organizations: Lille, Wednesday FIFA, Olympic, FIFA, Mexico, Argentine, Estadio Centenario, Thomson Locations: France, Uruguay, Egypt, South America, Argentina, Paraguay, Morocco, Spain, Portugal, England, Belgium, Yugoslavia, Romania, Siam, Thailand, Japan, Africa, United States, U.S, Canada

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. While the 30-year Treasury yield crossed above 5% for the first time since August 2007, the 10-year and five-year yields hit their highest since 2007. The CBOE volatility index (.VIX), Wall Street's "fear gauge", briefly hit a five-month high and topped its long-term average of 20. A day after U.S. job openings unexpectedly rose in August, investors will closely monitor September ADP National Employment data at 8:15 a.m. Reporting by Ankika Biswas and Shashwat Chauhan in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Kevin McCarthy, Mark Haefele, Haefele, Austan Goolsbee, Michelle Bowman, Eli Lilly, LLY.N, Mike Mason, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Apple, U.S . House Republicans, Treasury, Microsoft, Nvidia, Dow e, Nasdaq, Federal, UBS Global Wealth, Institute, Supply, PMI, Chicago, Traders, Dow, Intel, Thomson Locations: New York City, U.S, Bengaluru

☆ Yen cowers near 150 as intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

[1/3] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. Sterling edged 0.03% lower to $1.20745, languishing near the previous session's close to seven-month low of $1.20535. Meanwhile, Cleveland Fed President Loretta Mester said she is open to raising interest rates again.

Persons: Florence Lo, James Malcolm, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes Organizations: U.S, REUTERS, Rights, UBS, Tokyo, Treasury, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, New Zealand, Reserve Bank of New Zealand, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

☆ Two jobs reports, two different views of the labor market
▼ + stars: | 2023-10-04 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

That wasn’t the case with today’s ADP private sector jobs data report. So how can the labor market be both cooling down and heating up at the same time? That is to say there are multiple different ways of looking at the labor market. And that’s why economists at the Federal Reserve take into account multiple different reports on the state of the labor market. Speaking of which…The BLS is set to release the all-important monthly jobs report for September at 8:30am ET on Friday.

Persons: CNN Business ’, there’d, Alicia Wallace Organizations: CNN Business, New York CNN, ADP, Bureau of Labor Statistics, Labor, Federal, Refinitiv Locations: New York

☆ Private payrolls rose 89,000 in September, much fewer than expected, ADP says
▼ + stars: | 2023-10-04 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private payroll growth tailed off sharply in September, according to an ADP report Wednesday that provides a counterweight to other signs that the labor market is still running strong. The payroll processing firm said job growth totaled just 89,000 for the month, down from an upwardly revised 180,000 in August and below the 160,000 estimate from economists polled by Dow Jones. Economists estimate non-farm payrolls increased by 170,000 in September, down from a 187,000 increase in August, according to Dow Jones. The report comes a day after the Labor Department said job openings unexpectedly rose sharply in August. ADP said job growth was strongest at companies with fewer than 50 employees, a sector that added 95,000 positions.

Persons: Dow Jones, Job, Nela Richardson Organizations: Federal Reserve, ADP, Labor Department, Labor Locations: New Brighton , Minnesota

☆ Fragile yen is flat as intervention talk in focus
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +4 min

The index, however, remained within striking distance of a nearly 11-month high of 107.34 reached in the previous session. The Japanese currency was last flat at 149.06 per dollar, after unexpectedly surging nearly 2% at one point on Tuesday to 147.30, its strongest level in three weeks. The Bank of Japan's money market data showed on Wednesday that Japan likely did not intervene in the currency market a day earlier. Sterling climbed 0.3% to $1.2112, rebounding after falling to a nearly seven-month low of $1.20535 in the previous session. The decision sent the kiwi sliding more than 0.2% to a nearly one-month low of US$0.5871.

Persons: Helen, Masato Kanda, James Malcolm, Sterling Organizations: U.S ., ADP, U.S, Monex USA, Tokyo, Analysts, UBS, Federal Reserve, greenback, New Zealand Locations: U.S, Washington, Japan

☆ Gold fragile on lofty U.S. dollar and yields, palladium at 5-year low
▼ + stars: | 2023-10-04 | by ( ) www.cnbc.com time to read: +2 min

Gold prices headed back towards seven-month lows on Wednesday as an ascending dollar and bond yields after strong U.S. jobs data kept markets expectant of further monetary policy tightening, while palladium slipped to its lowest level since late 2018. Spot gold eased 0.1% to $1,820.70 per ounce by 0332 GMT, while U.S. gold futures dropped 0.3% to $1,836.20. The unexpected rise in August U.S. job openings highlights the durability of labor demand, NAB Resources said, adding that gold continues to decline on the higher-for-longer Federal Reserve rates outlook, strengthening U.S. bond yields and dollar. Benchmark U.S. 10-year bond yields were at 16-year highs, diminishing demand for non-interest-paying bullion. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.2% on Tuesday.

Persons: Janet Yellen, Yeap Jun Rong Organizations: U.S ., NAB Resources, U.S, Treasury, Benchmark, Trust, Palladium Locations: Moscow, Russia

☆ The private sector added just 89,000 jobs last month, far below expectations
▼ + stars: | 2023-10-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —US employers in the private sector added an estimated 89,000 jobs in September, a much lower total than expected and a potential indication of a sharp pullback in the labor market, payroll processor ADP reported Wednesday. The September tally landed well below economists’ estimates for 153,000 jobs added, as well as August’s upwardly revised total of 180,000 jobs added. While ADP’s tabulations don’t always correlate with the official federal jobs report — due out Friday — it’s sometimes viewed as a proxy for overall hiring activity, which has been gradually easing. “We’ve seen other times when we’ve had a relatively weak private sector number sandwiched between two stronger months,” Richardson said during a call with reporters. The BLS is set to release the all-important monthly jobs report for September at 8:30am ET on Friday.

Persons: ”, Nela Richardson, tabulations, it’s, We’ve, we’ve, ” Richardson, Ian Shepherdson, ” Shepherdson Organizations: Minneapolis CNN, ADP, ”, of Labor Statistics, Labor Locations: Minneapolis

☆ Yen cowers near 150 as Japanese intervention chatter runs rife
▼ + stars: | 2023-10-04 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Japanese authorities last year intervened to prop up the yen for the first time since 1998. Other currencies similarly fell against the yen in the previous session, with the euro losing more than 1.5% to a low of 154.39 yen. The Aussie stood at 94.03 yen , after having fallen to an over one-month low of 93.16 yen on Tuesday. Sterling edged 0.02% lower to $1.2076, languishing near the previous session's close to seven-month low of $1.20535.

Persons: Florence Lo, James Malcolm, Shunichi Suzuki, Masato Kanda, Janet Yellen, Rodrigo Catril, Raphael Bostic, Loretta Mester, Rae Wee, Sam Holmes, Stephen Coates Organizations: U.S, REUTERS, Rights, UBS, Japanese Finance, Tokyo, Treasury, New Zealand, Sterling, National Australia Bank, Atlanta Fed, Cleveland Fed, Thomson Locations: Rights SINGAPORE, Asia, Washington, Japan

And if you do, you should stand with me," Sunak said, referring to what he described as 30 years of political short-termism. "It may be helpful, but it won't be sufficient" to help them win the next election. Chris Hopkins, political research director at the polling firm Savanta, said he could not see how Sunak could win. Cabinet ministers have given speeches to sparsely populated rooms and some party members have openly talked what they may do in opposition. Writing by Elizabeth Piper; editing by Kate Holton and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Sunak, Goldman Sachs, Andy Street, Suella Braverman, pollsters, John Curtice, Chris Hopkins, Savanta, Liz Truss, Nigel Farage, Steve Tuckwell, Elizabeth Piper, Kate Holton, Philippa Fletcher Organizations: Conservative, Conservatives, Labour, University of Strathclyde, European Union, Republican Party, London's Labour, Thomson Locations: MANCHESTER, England, Manchester, British, Birmingham, West Midlands, United States

The ADP National Employment report showed private payrolls rose 89,000 in September, much lower than the expected 153,000. Focus now shifts to the more comprehensive non-farm payrolls data due on Friday. Separate data showed the U.S. services sector slowed in September as new orders fell to a nine-month low. Declining issues outnumbered advancers for a 1.02-to-1 ratio on the NYSE and a 1.10-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week high and 19 new lows, while the Nasdaq recorded 4 new highs and 162 new lows.

Persons: Brendan McDermid, Thomas Hayes, Kevin McCarthy, Helen of Troy, Rollins, advancers, Ankika Biswas, Shashwat Chauhan, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Companies, Nasdaq, Treasury, Microsoft, Nvidia, Great, Capital LLC, Dow, Traders, Wednesday, Dow Jones, U.S . House, Point Capital Management, NYSE, Thomson Locations: New York City, U.S, HELE.O, Point, Bengaluru

☆ S.Korea Aug factory output posts biggest gain in over 3 years as chips jump
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +1 min

A factory is seen in Incheon, South Korea, May 30, 2016. REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Oct 4 (Reuters) - South Korea's factory output unexpectedly jumped in August by the fastest rate in more than three years, led by chip production, official data showed on Wednesday. The industrial output index (KRIO=ECI) rose 5.5% in August from the previous month on a seasonally adjusted basis, after a 2.0% fall in July, according to Statistics Korea. That contrasts with a median 0.2% fall forecast in a Reuters survey and marks the fastest monthly gain since June 2020. On an annual basis, output was 0.5% lower, much milder than the previous month's 8.1% drop and a forecast for a 6.2% loss.

Persons: Kim Hong, Jihoon Lee, Tom Hogue, Sonali Paul 私 Organizations: REUTERS, Rights, Statistics Korea Locations: Incheon, South Korea, Rights SEOUL

☆ S&P 500 ends at lowest since June 1 as data fuels rate worries
▼ + stars: | 2023-10-03 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The Dow turned negative for the year for the first time since June and ended at its lowest level since May 31. Data showed U.S. job openings unexpectedly increased in August, fueling worries about a tight labor market ahead of Friday's key U.S. monthly jobs report. All but one S&P 500 sector - utilities (.SPLRCU) - were lower on the day, led by declines in consumer discretionary (.SPLRCD) and technology (.SPLRCT). Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The S&P 500 posted one new 52-week high and 63 new lows; the Nasdaq Composite recorded 15 new highs and 439 new lows.

Persons: Dow, Rick Meckler, Brendan McDermid, Raphael Bostic, Loretta Mester, advancers, Caroline Valetkevitch, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel, Richard Chang Organizations: Microsoft, Dow, Nasdaq, Federal, Investors, Cherry Lane Investments, New York Stock Exchange, REUTERS, Dow Jones, Atlanta Fed, Cleveland Fed, Reuters, Ofcom, NYSE, Thomson Locations: New Vernon , New Jersey, New York City, U.S, Bengaluru

☆ Indexes ended sharply lower as data adds to rate worries
▼ + stars: | 2023-10-03 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Data showed U.S. job openings unexpectedly increased in August, fueling worries about a tight labor market ahead of Friday's key U.S. monthly jobs report. All but one S&P 500 sector - utilities (.SPLRCU) - were lower on the day, led by declines in consumer discretionary (.SPLRCD) and technology (.SPLRCT). Cleveland Fed President Loretta Mester said she is open to raising rates again, potentially at the bank's next meeting. While the Dow is down slightly for the year so far, the Nasdaq remains up sharply since Dec. 31 after a rally driven by enthusiasm over artificial intelligence.

Persons: Brendan McDermid, Rick Meckler, Raphael Bostic, Loretta Mester, Dow, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Major U.S, Federal, Investors, Cherry Lane Investments, Nasdaq, Dow Jones, Atlanta Fed, Cleveland Fed, Reuters, Ofcom, Thomson Locations: New York City, U.S, Major, New Vernon , New Jersey, Bengaluru

☆ Indexes fall at least 1% as data adds to rate worries
▼ + stars: | 2023-10-03 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. Data showed U.S. job openings unexpectedly increased in August, fueling worries about a tight labor market ahead of Friday's key U.S. monthly jobs report. All but one S&P 500 sector - utilities (.SPLRCU) - were lower on the day, led by more than 2% declines in consumer discretionary (.SPLRCD) and technology (.SPLRCT). Cleveland Fed President Loretta Mester said she is open to raising rates again, potentially at the bank's next meeting. The S&P 500 posted one new 52-week high and 62 new lows; the Nasdaq Composite recorded 13 new highs and 390 new lows.

Persons: Brendan McDermid, Rick Meckler, Raphael Bostic, Loretta Mester, Dow, advancers, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel, Richard Chang Organizations: New York Stock Exchange, REUTERS, Microsoft, Dow, Nasdaq, Major U.S, Federal, Data, Investors, Cherry Lane Investments, Dow Jones, Atlanta Fed, Cleveland Fed, Reuters, Ofcom, NYSE, Thomson Locations: New York City, U.S, Major, New Vernon , New Jersey, Bengaluru

☆ US job openings jump in August; quits rate unchanged
▼ + stars: | 2023-10-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The jump reported by the Labor Department in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday snapped three straight monthly declines in job openings. There were 1.5 job openings for every unemployed person in August and the quits rate was unchanged. Data for July was revised higher to show 8.920 million job openings instead of the previously reported 8.827 million. Economists polled by Reuters had forecast 8.800 million job openings in August. The job openings rate increased to 5.8% from 5.4% in July.

Persons: Elizabeth Frantz, Jeffrey Roach, Lucia Mutikani, Andrea Ricci, Paul Simao Organizations: REUTERS, Federal Reserve, Labor Department, Labor, Survey, Fed, LPL Financial, Reuters, Treasury, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Charlotte , North Carolina, State, Hollywood

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. A Labor Department report showed U.S. job openings unexpectedly increased in August, pointing to tight labor market conditions. Traders' bets on at least another 25-basis-point rate hike stood in November and December at 30% and 48%, respectively, according to CME's FedWatch tool. The CBOE volatility index (.VIX), known as Wall Street's "fear gauge", touched a more than four-month high, reflecting heightened investor anxiety. Declining issues outnumbered advancers for a 5.99-to-1 ratio on the NYSE and a 3.50-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Loretta Mester, Raphael Bostic, Jason Pride, KeyBanc, McCormick, advancers, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Microsoft, Dow, Nasdaq, Labor Department, Cleveland Fed, Atlanta, Traders, Apple, Reuters, Ofcom, Dow Jones, ADP, HP, BofA Global Research, Boeing, United Airlines, NYSE, Thomson Locations: New York City, U.S, Glenmede, Philadelphia, Bengaluru

☆ What the bond market is telling us about recession chances right now
▼ + stars: | 2023-10-03 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The 2-year and 10-year Treasury yield curve initially inverted in March 2022, a phenomenon that has historically been a reliable recession predictor. The spread between the 2-year and 10-year Treasury yields tightened to 40 basis points on Tuesday, marking the smallest gap since May 5. "I always talk about the yield curve being inverted as a warning signal if you will... but it doesn't happen imminently. The notable bond investor said when the yield curve de-inverts, it's a strong signal of a recession and that it was very close to happening. EvercoreISI historical work found that the yield curve turns positively sloped just before a recession begins.

Persons: Jeffrey Gundlach, Gundlach, it's, Pershing, Bill Ackman, Ackman Organizations: Treasury, DoubleLine, CNBC, Federal Reserve

☆ August job openings top 9.6 million, more than expected as labor market remains strong
▼ + stars: | 2023-10-03 | by ( Jeff Cox | ) www.cnbc.com time to read: 1 min

Employment vacancies at U.S. businesses unexpectedly surged in August, a sign that the labor market remains tight and robust despite the Federal Reserve's efforts to slow the economy. Job openings totaled 9.61 million for the month, a jump of nearly 700,000 from July and well above the Dow Jones estimate for 8.8 million, the Labor Department said Tuesday in its monthly Job Openings and Labor Turnover Survey. Much of the increase in openings came in professional and business services, which showed a burst of 509,000. Stocks fell following the report as a tighter labor market could put more pressure on the Fed to keep interest rates elevated. The Dow Jones Industrial Average most recently was off more than 260 points on the session.

Persons: Dow Jones, Stocks Organizations: Dow, Labor Department, Labor, Fed, Dow Jones

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