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☆ US weekly jobless claims, continuing claims at eight-month low
▼ + stars: | 2023-09-21 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

Hundreds of people line up outside the Kentucky Career Center, over two hours prior to its opening, to find assistance with their unemployment claims, in Frankfort, Kentucky, U.S. June 18, 2020. Though demand for labor is slowing, overall labor market conditions have remained tight despite higher interest rates. "The U.S. labor market continues to outperform expectations," said Eugenio Aleman, chief economist at Raymond James. The so-called continuing claims declined 21,000 to 1.662 million during the week ending Sept. 9, also the lowest level since January, the claims report showed. Continuing claims remain historically low, a reminder that labor market conditions are still tight.

Persons: Bryan Woolston, Eugenio Aleman, Raymond James, Unadjusted, Jerome Powell, Stellantis, Lucia Mutikani, Chizu Nomiyama, Paul Simao Organizations: Kentucky, Center, REUTERS, Bryan Woolston Acquire, United Auto Workers, UAW, Labor Department, Reuters, Reserve, Ford, GM, Chrysler, Workers, Thomson Locations: Frankfort , Kentucky, U.S, WASHINGTON, Indiana, California, South Carolina , New York, Georgia, Kansas, Ohio

☆ Here are 6 key economic signals for markets to follow as the Fed gets ready to make its next policy move
▼ + stars: | 2023-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

There are six key economic indicators for markets to gauge the health of the US economy. The US is likely headed for a mild recession, according to one chief investment officer. Markets are currently pricing in a 99% chance the Fed will choose to keep interest rates unchanged, according to the CME FedWatch tool. Small business optimism is waningSmall business optimism slumped over the past month to 91.3, down 0.6 points from July's reading. But real wages of Americans have actually fallen 0.5% over the past month, according to the Bureau of Labor Statistics, which could spell trouble for the US consumer.

Persons: Brent Schutte, Schutte Organizations: Service, Federal Reserve, Fed, Northwestern Mutual Wealth Management, Cleveland Fed, Bureau of Labor Statistics, San Francisco Fed, University of Michigan's Locations: Wall, Silicon

U.S. applications for jobless claims rose by 3,000 to 220,000 for the week ending Sept. 9, the Labor Department reported Thursday. Jobless claim applications are seen as representative of the number of layoffs in a given week. Though some measures of inflation have retreated significantly — from as much as 9% down closer to 3% — since the Fed starting raising interest rates, the job market has held up better than most expected. Theough the unemployment rate ticked up to 3.8%, it's still low by historical measures. Overall, 1.69 million people were collecting unemployment benefits the week that ended Sept. 2, about 4,000 more than the previous week.

Organizations: Labor Department, Federal Locations: U.S

TOKYO (AP) — Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street, as investors awaited an update on U.S. consumer prices set for later in the week. The Federal Reserve is weighing whether to keep raising interest rates steady in its effort to get inflation back to 2%. Monday on Wall Street, the S&P 500 rose 0.7% to 4,487.46, coming off its first losing week in the last three. How Apple performs has great consequence for the market because it's the most valuable stock on Wall Street. In energy trading, benchmark U.S. crude gained 32 cents to $87.61 a barrel in electronic trading on the New York Mercantile Exchange.

Persons: Australia's, Hang Seng, ” Anderson Alves, ActivTrades, Tesla, Apple, RTX, Smucker, Daniel Zhang Organizations: TOKYO, Big Tech, Nikkei, Federal, Fed, Federal Reserve, CME Group, Dow Jones Industrial, Nasdaq, Amazon, Communications, Walt Disney Co, ESPN, Disney, Apple, Qualcomm, . Aerospace, Pratt & Whitney, Hostess Brands, New York Mercantile Exchange, Brent, U.S Locations: Hong, Shanghai, U.S, Folgers, Smucker’s, United States

☆ Cowboys retain title of NFL's most valuable team - Forbes
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

Aug 19, 2023; Seattle, Washington, USA; Dallas Cowboys quarterback Will Grier (15) takes off his helmet after a failed fourth down conversion against the Seattle Seahawks during the fourth quarter at Lumen Field. Mandatory Credit: Joe Nicholson-USA TODAY Sports/File photo Acquire Licensing RightsAug 30 (Reuters) - The Dallas Cowboys are the most valuable National Football League (NFL) team for a 17th consecutive year, according to the annual list published by business magazine Forbes on Wednesday. The Cowboys, who have only made the playoffs five times in the last 13 seasons, are worth a record $9 billion, up 13% from last year, Forbes said. The New England Patriots ($7 billion), Los Angeles Rams ($6.9 billion), New York Giants ($6.8 billion) and Chicago Bears ($6.3 billion) rounded out the top five. The reigning Super Bowl champion Kansas City Chiefs ($4.3 billion) were 23rd on the Forbes list while the Cincinnati Bengals ($3.5 billion) were the lowest-valued team.

Persons: Will Grier, Joe Nicholson, Forbes, Frank Pingue, Toby Davis Organizations: Dallas Cowboys, Seattle Seahawks, USA, National Football League, Forbes, Wednesday, The Cowboys, New England Patriots, Los Angeles Rams, New York Giants, Chicago Bears, Super Bowl, Kansas City Chiefs, Cincinnati Bengals, Thomson Locations: Seattle , Washington, USA, Washington, Toronto

☆ NatWest weighs clawing back bonus from former CEO Rose
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The logo of NatWest Bank, part of the Royal Bank of Scotland group is seen outside a branch in Enfield, London Britain November 15, 2017. Rose stepped down on July 25 after admitting to a "serious error of judgment" in discussing Farage's relationship with NatWest-owned Coutts with a BBC journalist. Natwest said Rose would continue to earn a fixed salary and fixed share awards totalling 2.4 million pounds ($3.03 million), and pension contributions worth 10%, in line with her 12-month notice period and pending the outcome of the inquiry. "Like other employees where an investigation outcome is pending, Alison is currently receiving her fixed pay," a NatWest spokesperson said. The lender will pay new CEO Paul Thwaite 1.05 million pounds ($1.39 million) in fixed salary, just below the 1.16 million it paid Rose, in addition to a fixed share allowance of about 1.1 million pounds, NatWest said.

Persons: John Sibley, Alison Rose, Nigel Farage's, Rose, Coutts, Alison, Farage, Rose's, Paul Thwaite, Chandini, Lawrence White, Sinead Cruise, Sharon Singleton Organizations: NatWest Bank, Royal Bank of, Enfield , London Britain, REUTERS, NatWest, BBC, Natwest, Thomson Locations: Enfield , London, Bengaluru, London

☆ US weekly jobless claims fall; tight labor market underpinning economy
▼ + stars: | 2023-08-17 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The labor market is only slowing at the margin, with job gains in July being the second-smallest since December 2020. Labor market strength, excess savings accumulated during the COVID-19 pandemic and greater credit card usage to fund purchases have kept a recession at bay. Some economists saw the slight elevation as indicating a small margin of slack in the job market. The Philadelphia Fed’s business conditions index increased to a reading of 12.0 this month from -13.5 in July. A survey this week from the New York Fed showed business conditions in the “Empire State” remained depressed in August.

Persons: Shannon Stapleton, ”, Christopher Rupkey, Jerome Powell’s, Jeffrey Roach, Bill Adams, Daniel Silver Organizations: WASHINGTON, REUTERS, Federal, Labor Department, Reuters, Treasury, Conference, Labor, LPL Financial, Conference Board, Comerica Bank, Philadelphia Fed, New York Fed, JPMorgan Locations: New York City, U.S, New York, Ohio, California, Texas , Michigan , New Jersey, Pennsylvania, Virginia, Charlotte , North Carolina, Dallas, New Jersey, Delaware, Philadelphia, “

☆ US weekly jobless claims fall as labor market remains tight
▼ + stars: | 2023-08-17 | by ( Reuters Staff | ) www.reuters.com time to read: +3 min

WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, pointing to a still tight labor market. Although the labor market is slowing, with job gains in July the second smallest since December 2020, conditions generally remain tight. The unemployment rate is at levels last seen more than 50 years ago. Labor market resilience is underpinning the economy, by driving retail sales and homebuilding. The so-called continuing claims increased 32,000 to 1.716 million during the week ending Aug. 5, the claims report showed.

Persons: Amira Karaoud Organizations: WASHINGTON, REUTERS, Labor Department, Reuters, Labor Locations: Louisville, U.S, Ohio

In the past, he would have swiftly chopped 10% of the workers that run his bag-making machines, or about 15 people. Faced with the tightest job market in decades, many have become less trigger-happy with layoffs, even in the face of a cooling economy. But, so far, the economy has continued to grow, albeit more slowly, and the job market has powered onward. Reuters Graphics'HOLD ONTO YOUR LABOR FORCE'At least one major company has adopted a formal strategy of hoarding workers. "I don't think it's the case that many businesses are holding onto workers who are idle," she said.

Persons: Kevin Kelly, Nathan Frandino, Kelly, Alan H, Shaw, they're, Dana Peterson, Peterson, Arnold Kamler, Julia Pollak, Thomas Simons, We're, Timothy Aeppel, Dan Burns, Paul Simao Organizations: Emerald Packaging, REUTERS, Packaging, Employers, Federal Reserve, Labor, Reuters Graphics, Norfolk, Reuters, U.S, Survey, Labor Department, Conference Board, Business Council, Kent International, Jefferies, Thomson Locations: California, Union City , California, U.S, San Francisco, Norfolk Southern, downturns, Atlanta, New York, South Carolina, rehire, Los Angeles

☆ Stock Market Today: Dow Closes Lower, Snaps Historic Winning Streak
▼ + stars: | 2023-07-27 | by ( ) www.wsj.com time to read: +1 min

The Dow Jones Industrial Average finished Thursday lower, ending a winning run that would have tied a record-long streak set back in 1897. Stocks moved lower, handing back earlier gains. U.S. government-bond yields rose as bond prices fell. The two-year yield rose to 4.939%. Travel-related stocks moved in different directions.

Persons: Stocks, Brent —, Brent Organizations: Dow Jones Industrial, Federal Reserve, Facebook, Southwest Airlines, European Central Bank, Nasdaq, Dow Jones Locations: U.S, Wednesday’s

☆ Indian gaming firms say new tax will stifle foreign investment
▼ + stars: | 2023-07-15 | by ( Aftab Ahmed | ) www.reuters.com time to read: +2 min

NEW DELHI, July 15 (Reuters) - India's new 28% tax on online gaming companies will stifle foreign investment and put $2.5 billion already invested in the sector at risk, more than 100 gaming firms have said in a letter to India's finance ministry. India this week announced the tax on the funds that online gaming companies collect from their customers. Games such as fantasy cricket have became increasingly popular in recent years, but have also raised concerns about addiction among players. Top investors including Tiger Global and Peak XV, previously known as Sequoia Capital India, have invested in Indian gaming companies such as Dream11 and Mobile Premier League. Many Indian ministers view bets on online gaming platforms as a "social evil", Malhotra had said.

Persons: MPL, Sanjay Malhotra, Malhotra, Arpan Chaturvedi, Aftab Ahmed, Aditya Kalra, David Holmes Organizations: Tiger Global, Sequoia Capital, Mobile Premier League, Federal, Reuters, Indian Premier League cricket, Thomson Locations: DELHI, India, Sequoia Capital India

☆ Britain is now the only major economy where inflation is still rising
▼ + stars: | 2023-07-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

It comes as many major central banks start to consider bringing their aggressive interest rate hikes to an end as prices cool, even as inflation remains elevated. The move, which exacerbated fears of a mortgage catastrophe, marked a divergence from other major central banks that have been able to either slow or pause interest rate hikes. Year-on-year inflation, as measured by the consumer price index, slowed markedly to 6.5% in May, down from 7.4% in April. Core inflation, which excludes volatile food and food prices, declined at a much slower rate across 33 OECD countries, however, continuing a recent trend. Energy inflation, meanwhile, was found to have plunged to -5.1% in May when compared to the previous year, from 0.7% in April.

Organizations: OECD, LONDON, Organization for Economic Cooperation, Development, U.S ., Bank of England, Energy Locations: Paris, U.S, U.S . Canada, France, Germany, Italy, Japan, Britain, Netherlands, Norway, Costa Rica, Greece, Denmark, Hungary, Turkey

☆ Japan’s economic scars might blind it to inflation
▼ + stars: | 2023-06-13 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +8 min

Investors worry about market ructions if Ueda hikes rates now but there is another risk: that he waits too long. Reuters GraphicsUeda’s inaction – and the domestic markets’ positive response – have bought him time to focus on evaluating macroeconomic fundamentals, particularly inflation. The country only emerged from a decades-long deflationary rut relatively recently, so local economists, executives and consumers are unused to worrying about consumer prices rising too fast. The government’s latest draft of its long-term economic plan, seen by Reuters on June 2, remains focused on eradicating Japan's “long-held deflationary mindset”. "We expect inflation to quite clearly slow below 2%" toward the middle of the current fiscal year, Ueda told parliament.

Persons: Kazuo Ueda, Haruhiko Kuroda, Ueda, ’, –, Richard Koo, Shinzo Abe, Francesco Guerrera, Katrina Hamlin Organizations: Reuters, Bank of Japan, Nikkei, Nasdaq, Bank for International, Toyota, Toshiba, Black Monday, Japan Inc, International Monetary Fund, of, Thomson Locations: TOKYO, Japan, United States, U.S, Great, China, Europe, Germany, Italy, of Japan’s

Overall U.S. beer sales grew 1.8% in the 12 weeks ended May 20, according to data from research firms NielsenIQ and TD Cowen. Sam Adams maker Boston Beer, the largest craft beer maker, saw its market share slip last year. Bud Light and Coors Light, popular premium light beers, average about $7.40 for a 12-ounce six-pack, while Boston Beer's Sam Adams costs between $10 to $12. "The American consumer likes light beer," Molson Coors CEO Gavin Hattersley said at a conference in early June. "I think dynamics within the subsegment might change, but the overall consumption of light beer is not going to change materially."

Persons: Beer, Neil Reid, TD Cowen, Vivien Azer, Sam Adams, Boston Beer, Bud Light, Jon Reynolds, Reid, influencer Dylan Mulvaney, Michel Doukeris, Gavin Hattersley, Ananya Mariam Rajesh, Anil D'Silva Organizations: Anheuser, Busch InBev, Molson Coors Beverage, University of Toledo, Refinitiv, Molson Coors, InBev, Boston Beer Co, Reuters Graphics, Boston, Constellation Brands, Modelo, Reuters, Brewery, Miller, University of Vermont . Giants, AB InBev, Thomson Locations: United States, NielsenIQ, Corona, American, Bengaluru

☆ People are spending more on groceries. But they’re buying less
▼ + stars: | 2023-06-06 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +5 min

New York CNN —The past few months of robust grocery store sales would suggest that shoppers aren’t stretched for cash. Fresh eggs shot up 48.2%, milk rose 5%, bread rose 12.7% and fresh root vegetables went up 14.7. The following month, grocery prices continued to fall. But food inflation is still outpacing inflation overall, and grocery prices are still quite a bit higher than they were last year. We are still seeing prices, month over month, they’re still going up — although much less than they were.”— CNN’s Nathaniel Meyersohn contributed to this report.

Persons: that’s, ”, Alastair Steel, Spencer Platt, they’ve, Steel, “ we’ve, Richard Galanti, Jeff Gennette, “, Brandon Bell, Jeff Owen, Ramon Laguarta, it’s, they’re, —, Nathaniel Meyersohn Organizations: New, New York CNN, Kellogg, PepsiCo, Getty, Steel, Costco, Aldi, ”, Dollar, Assistance, SNAP, Consumers, Bureau of Labor Statistics, BLS Locations: New York

☆ Data lifts dollar, euro soft as Germany enters recession
▼ + stars: | 2023-05-25 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose for a fourth straight session on Thursday against a basket of major peers to hit a fresh two-month high, as U.S. economic data signaled resilience even after the Federal Reserve's aggressive rate hike cycle. In contrast the German economy, Europe's largest, was in recession in the first quarter as GDP fell 0.3%, sending the euro lower. The dollar index rose 0.27% at 104.100 after hitting 104.27, its highest since March 17. Boston Federal Reserve President Susan Collins said on Thursday the time may be at hand for the U.S. central bank to pause its rate hike cycle. Worries about a potential U.S. default supported the dollar as talks continue in Washington to raise the $31.4 trillion debt ceiling.

Persons: Joe Manimbo, CME's, Susan Collins, Fitch, DBRS Morningstar, Kevin McCarthy, Sterling Organizations: Washington DC, Fed, Boston Federal, U.S, Treasury, AAA, White House, Republican Locations: Brest, France, U.S, Washington, United States

☆ Initial jobless claims increase for fourth consecutive week
▼ + stars: | 2023-05-18 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

Minneapolis CNN —The number of first-time claims for weekly jobless benefits fell last week to 242,000, down 22,000 from 264,000 the week before, according to data published Thursday by the Department of Labor. Continuing claims, which are filed by people who have received jobless benefits for more than one week, dipped to 1.799 million for the week ended May 6 from a revised 1.807 million the week prior. The outsized influence of Massachusetts’ claims was an anomaly, BofA economists wrote, noting that the state’s total employment accounts for under 3% of overall US employment, and its initial jobless claims are typically under 3% of all weekly US claims. When excluding and recalculating filings in Massachusetts, initial claims have instead moved “sideways,” pointing to limited layoffs, economists Stephen Juneau and Michael Gapen wrote. Weekly jobless claims remain below historical averages: In the decade before the pandemic, weekly claims averaged 311,000.

☆ Dollar notches biggest weekly rise since February
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +3 min

The U.S. dollar rose against the euro and sterling on Friday, and notched its biggest weekly gain since February, as investors shifted to safe havens after consumer sentiment data fueled concern about the U.S. debt ceiling and monetary policy. A University of Michigan survey on Friday showed May U.S. consumer sentiment slumped to a six-month low on worries that political dispute over raising the federal government's borrowing cap could trigger a recession. "Rate differentials are continuing to tilt in the dollar's favor," said Karl Schamotta, chief market strategist of Corpay in Toronto. Recent data showing a slowing economy has boosted the case that the Fed will pause hiking rates at its June meeting. That left the dollar index up 0.63% at 102.70, notching a weekly gain of 1.4% — its biggest weekly rise since February.

☆ Futures rise on Meta forecast ahead of key earnings, economic data
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.26%, S&P 0.42%, Nasdaq 0.70%April 27 (Reuters) - U.S. stock index futures rose on Thursday as an upbeat forecast from Meta Platforms lifted social media stocks, with investors looking forward to big-ticket earnings and key economic data. Shares of social media platforms Snap Inc (SNAP.N) and Pinterest Inc (PINS.N) rose 3.4% and 2.8%, respectively. Meta is the second best performer among the S&P 500 stocks with a 74% gain so far this year, next only to Nvidia Corp (NVDA.O). Analysts expect first-quarter earnings to have fallen 3.2% year-over-year for S&P 500 (.SPX) companies versus a 5.1% decline forecast earlier, according to Refinitiv data on Wednesday. ET, Dow e-minis were up 88 points, or 0.26%, S&P 500 e-minis were up 17.25 points, or 0.42%, and Nasdaq 100 e-minis were up 90.25 points, or 0.7%.

☆ Big Tech earnings, crucial inflation call — here comes the biggest week of earnings season
▼ + stars: | 2023-04-22 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Oil prices extend losses on fears of recession and slower oil demand
▼ + stars: | 2023-04-21 | by ( ) www.cnbc.com time to read: +2 min

Oil prices eased on Friday, extending losses from the two previous days and heading for a weekly decline, as softening U.S. economic data and a rise in U.S. gasoline inventories raised concerns about a recession and slower global oil demand. Brent futures for June delivery were down by 14 cents, or 0.2%, at $80.96 a barrel at 0101 GMT. West Texas Intermediate crude (WTI) for June delivery slid 12 cents, or 0.2%, to $77.25 a barrel. "Market sentiment remained bearish after the weak U.S. economic data, along with expectations of interest rate hikes, fueling worries over a recession that could dent oil demand," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. U.S. crude oil inventories last week fell more than forecast as refinery runs and exports rose, while gasoline stockpiles jumped unexpectedly on disappointing demand, Energy Information Administration data showed on Wednesday.

☆ Earnings from Club consumer, health and bank stocks will be our main focus in the week ahead
▼ + stars: | 2023-04-15 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Corporate earnings won't have to share the spotlight with major inflation data in the week ahead as they did during this past week's up-and-down market. From Morgan Stanley, we suspect Friday's bank earnings foreshadow a good release. This past week, we spoke about the importance of listening to what industry players aside from those you're invested in as a way to analyze the competitive landscape. Here are some of those other earnings reports and the economic numbers out in the week ahead. Club trades of the week We made just one trade this past week, in a market that was overbought , purchasing 25 shares of Palo Alto Networks (PANW).

Following a selloff in March due to the banking crisis, the benchmark S&P 500 (.SPX) has traded in tight ranges this month as investors assessed the path for U.S. interest rates following strong jobs data and signs of cooling inflation. ET (1230 GMT) is expected to show producer prices barely rose in March on a month-on-month basis, following a 0.1% contraction in February. Meanwhile, another set of data is also expected to show weekly jobless claims rose 232,000 in the week ended April 8, higher than the 228,000 claims filed a week earlier. Financial companies that are part of the S&P 500 are expected to report a profit growth of 4.3% in the first quarter. ET, Dow e-minis were down 4 points, or 0.01%, S&P 500 e-minis were up 3.75 points, or 0.09%, and Nasdaq 100 e-minis were up 30.5 points, or 0.24%.

☆ Futures climb ahead of fresh inflation data
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +2 min

Wall Street closed lower on Wednesday after data showed consumer prices rose at a slower-than-expected pace in March, although core prices remained sticky, supporting the case for another 25-basis point rate hike by the Fed in May. ET (1230 GMT) is expected to show producer prices barely rose in March on a month-on-month basis, following a 0.1% contraction in February. Analysts expect S&P 500 companies to record a profit decline of 5.2% in the first quarter, according to Refinitiv IBES data, in what could be their worst showing since the third quarter of 2020. Financial companies that are part of the S&P 500 are expected to report a profit growth of 4.3% in the first quarter. ET, Dow e-minis were up 44 points, or 0.13%, S&P 500 e-minis were up 9.75 points, or 0.24%, and Nasdaq 100 e-minis were up 48.25 points, or 0.37%.

☆ US stocks edge higher as investor await important March jobs report
▼ + stars: | 2023-04-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks traded mixed on Thursday, ending a short week as investors looked to the key March jobs report. The market took stock of weakening jobs data this week in the form of private payrolls and jobless claims. The Fed has cited a tight labor market as a reason why rates may need to stay higher for longer. Investors took stock of payroll data from ADP, which showed 145,000 jobs added last month, below estimates of 210,000. A softening labor market is a signal the Federal Reserve is watching for to know if its year of interest rate hikes is being felt in the real economy.

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