DIRS.INFO The most relevant business & tech news

☆ Why Wells Fargo is the most attractive bank stock as the sell-off continues
▼ + stars: | 2024-08-05 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 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. 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, Warren Buffett's Berkshire Hathaway, Buffett, Jim, We're, Wells, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Big Tech, Apple Locations: Wells Fargo, Wells

☆ Chicago Fed President Goolsbee says if economy deteriorates, Fed will 'fix it'
▼ + stars: | 2024-08-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Chicago Federal Reserve President Austan Goolsbee on Monday vowed that the central bank would react to signs of weakness in the economy and indicated that interest rates could be too restrictive now. Policymakers have been focused on the "real" fed funds rate, which is the Fed's benchmark minus the inflation rate. As inflation declines, the real rate increases — unless the Fed chooses to cut. The real rate now is around 2.73%; Fed officials judge the long-term real rate to be closer to 0.5%. Traders expect the Fed to slice 1.25-1.5 percentage points off the funds rate by the end of the year, according to the CME Group's FedWatch Tool.

Persons: Austan Goolsbee, Goolsbee, nonfarm, I'm, we're Organizations: Chicago Federal, Dow Jones, Fed, Labor Department, Traders

☆ Here are all the reasons why Monday's major market wreck is happening
▼ + stars: | 2024-08-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) on August 05, 2024, in New York City. "The market got a little bit ahead of itself in that run-up that it's had. Soon, traders began pricing in aggressive Fed rate cuts after expecting the central bank to do little the rest of the year. "This is the confluence of a very high market that has been soaring and riding on a lot of sentiment and emotion. For several months now, the momentum trade has been the successful trade," said Michael Farr, CEO of Farr, Miller & Washington.

Persons: Spencer Platt, Robert Teeter, it's, John Belton, —, Kamala Harris, Republican Donald Trump, Michael Farr, Farr Organizations: New York Stock Exchange, Getty, Federal Reserve, Silvercrest Asset Management, Dow Jones, Labor Department, Gabelli, Bank of Japan, Nvidia, Democratic, Republican, Miller & Washington Locations: New York City, cumulatively, Ukraine, U.S

☆ What Russia’s arrest footage of Evan Gershkovich and Paul Whelan really tells us
▼ + stars: | 2024-08-05 | by ( Nathan Hodge | ) edition.cnn.com time to read: +4 min

CNN —Russia’s pro-Kremlin media know how to create an alternative reality, and last week’s historic prisoner swap was no exception. On Monday, Russian state-backed media outlets treated viewers to lurid footage of the arrests of Wall Street Journal reporter Evan Gershkovich and former US Marine Paul Whelan. And we see a handcuffed Paul Whelan on a hotel bed, flanked by Russian security officers. But in the cases of Gershkovich and Whelan, the aim of the Russian state was to build a bank of human collateral to trade for its valued agents held abroad. But the good news is that Gershkovich is out of Russian custody and can now write the definitive and reliable account of what happened during his arrest.

Persons: CNN — Russia’s, Evan Gershkovich, Paul Whelan, Gershkovich, Whelan, –, Dow Jones, Almar Latour, Emma Tucker, “ Vladimir Putin, ”, Evan Organizations: CNN, Kremlin, Wall Street, Bolshoi Theater, Gershkovich, US State Department, State Department, Dow Locations: Russian, Yekaterinburg, Moscow, Russia, British

☆ S&P 500 futures bounce after index posts worst day in nearly two years: Live updates
▼ + stars: | 2024-08-05 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

S&P 500 futures bounced in overnight trading after the broad index notched its worst day in nearly two years as global markets sold off. Futures tied to the S&P 500 rose 0.9%, while Nasdaq 100 futures rallied 1.2%. The 30-stock Dow dropped 1,033.99 points, or 2.6%, while the S&P 500 slid 3%. These fears spilled over into global markets, with Japan's Nikkei 225 index registering its worst daily decline since Black Monday in 1987. The Dow, S&P 500 and Nasdaq are down 5%, 6% and 8% respectively in three days, their worst 3-day performance in more than two years.

Persons: Dow, Quincy Krosby, LPL, Tesla, It's, Keith Lerner, Truist's Organizations: New York Stock Exchange, Futures, Nasdaq, Dow Jones Industrial, Federal Reserve, Japan's Nikkei, Treasury, Bank of Japan, Nvidia, Apple, VanEck Semiconductor, Traders, Palantir Technologies, Lucid Group Locations: New York City

☆ Global markets are off to a terrible start this week, and Japan is partly to blame
▼ + stars: | 2024-08-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.

Persons: —, Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan

☆ British Airways' new Bridgerton-style safety video features actors in period dress. One safety expert says it's 'excellent' — but it has drawbacks.
▼ + stars: | 2024-08-05 | by ( Paige Bruton | ) www.businessinsider.com time to read: +3 min

Read previewBritish Airways released its newest in-flight safety video in late July, styled as a classic British period drama, along the lines of "Bridgerton" and "Pride and Prejudice." It includes over 40 British Airways staff and was filmed in grand country houses across the UK. Courtesy of British Airways. However, the video does have drawbacks. Courtesy of British Airways.

Persons: —, Sharon Maguire, Bridget Jones, Darcy, Shem Malmquist, Guy Gratton, Business Insider's Taylor Rains, Rowan Atkinson's Mr, Bean, Gordon Ramsay Organizations: Service, British Airways, British Airways staff, Business, YouTube, The Daily Telegraph, Singapore Airlines, Aviation Safety, Aviation, Cranfield University, Allegiant Air, Virgin America Locations: British, London

(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.

Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, —, Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China

☆ Dow futures slide nearly 200 points after Nasdaq falls into a correction: Live updates
▼ + stars: | 2024-08-04 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. U.S. stock futures fell Sunday night following a volatile week for Wall Street, in which the Nasdaq Composite dropped into correction territory. S&P 500 futures and Nasdaq-100 futures dipped 0.7% and 1.1%, respectively. On Friday, the Nasdaq capped a third straight week of losses, bringing the tech-heavy index down more than 10% from a record set last month. The S&P 500 also posted a third straight losing week, down 2% for the week.

Persons: Dow, Keith Lerner, CNBC's, It's, Warren Buffett's Berkshire Hathaway, Mary Daly Organizations: New York Stock Exchange, Wall, Nasdaq, Dow Jones Industrial, Dow Jones, Treasury, Federal Reserve, PMI, San Francisco Fed Locations: New York City . U.S, Hawaii

☆ Here’s Where Debby’s Rains Are Going Next
▼ + stars: | 2024-08-04 | by ( Judson Jones | More About Judson Jones | ) www.nytimes.com time to read: +1 min

As Tropical Storm Debby moves inland off the Gulf of Mexico this week, it is expected to bring intense rainfall and flooding across northern Florida, Georgia and South Carolina. The National Weather Service forecast a rare high risk of excessive rain for the region. Widespread flash flooding and river flooding are expected, with 10 to 20 inches of rainfall along the coast. The most intense rainfall is expected to spread over the area Monday night into Tuesday. “We’re going to be into a catastrophic rain situation,” Kevin Guthrie, the executive director of Florida’s Division of Emergency Management, said at a news conference on Sunday.

Persons: “ We’re, Kevin Guthrie Organizations: National Hurricane Center, National Weather Service, Florida’s, Emergency Management Locations: of Mexico, Florida , Georgia, South Carolina

☆ The Willful Amnesia Behind Trump’s Attacks on Harris’s Identity
▼ + stars: | 2024-08-04 | by ( Nikole Hannah-Jones | ) www.nytimes.com time to read: +2 min

Our mother might be white, he told us, but in this country, that fact was irrelevant to how we would be seen and treated. I cannot say exactly how I knew I was Black before my dad sat us down, but I knew. With my white family I was not white but part white. With my Black family and in the rest of America, I was Black. In American society, this race rule is so embedded that it is not even questioned.

Persons: Donald J, Trump, Kamala Harris, “ Organizations: Republican Locations: America, Mississippi, Loving, Virginia, Iowa

☆ Here are 4 things we're watching closely in the stock market this week
▼ + stars: | 2024-08-04 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stocks had a rough week, topped off with a pummeling Friday after the July jobs data came in weaker than expected. Until then, bad economic news was good news for the stock market, because it meant the Federal Reserve would start cutting interest rates sooner. On Thursday, a drop in U.S. manufacturing activity for July and a jump in initial jobless claims dragged down the market. Next week is light on economic data, so expect earnings reports and CEO commentaries to drive the market action. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Dow Jones, Jim Cramer, would've, Eli Lilly, Mounjaro, Berkshire Hathaway, Krystal, Tyson, BAX, Owens, Walt, Oscar Health, CRON, Krispy, Papa, Jim Cramer's, Jim Organizations: Nasdaq, Dow, Reserve, Broadcom, Devices, Palo Alto, PMI, Wynn Resorts, Investors, Wynn, Wynn Palace, U.S . Disney, Management, and Drug Administration, Carlyle Group, Krystal Biotech, Tyson Foods, TSN, Alpha Metallurgical Resources, BioCryst Pharmaceuticals, Axsome Therapeutics, Technologies, Clover Health, Realty Income Corp, Avis Budget Group, CSX Corp, CSX, Simon Property Group, Sterling Construction Company, Teradata Corp, Yum China Holdings, ZoomInfo Technologies, Holdings, Caterpillar, Baxter International, Vulcan Materials Company, Allegheny Technologies Incorporated, Constellation Energy Group, Marathon Petroleum Corp, Owens Corning Inc, Duke Energy Corp, GXO Logistics, Brands, Builders, Wynn Resorts Ltd, WYNN, Rivian Automotive, Devon Energy Corp, GigaCloud Technology Inc, Lumen Technologies, VF Corp, Walt Disney Co, Novo Nordisk, CVS Health, Aurora Cannabis Inc, Emerson Electric Co, Sony Group Corporation, SONY, Inc, ODP Corporation, Icahn Enterprises, MannKind Corp, ACM Research, Brink's Company, AppLovin Corporation, Digital Turbine, Sarepta Therapeutics, Occidental Petroleum Corp, Bros, SolarEdge Technologies, Aspen, Coeur D'Alene Mines Corp, Co, Vistra Energy, Cheniere Energy, Cronos, Himax Technologies, Properties Trust, Papa John's, Paramount Global, Trade, Lab, B2Gold Corp, Honest Company, Gilead Sciences, Growth, Nikola Corporation, Embraer, New Fortress Energy, Construction, Jim Cramer's Charitable, CNBC, Disney, Pixar Locations: Palo, Macau, Las Vegas, Boston, Vegas, Wynn Macau, China, Novo, Coeur, Gilead

Tracking Hurricane Debby Leer en españolDebby was a Category 1 hurricane in the Gulf of Mexico late Sunday Eastern time, the National Hurricane Center said in its latest advisory. The hurricane had sustained wind speeds of 75 miles per hour. Debby is the fourth named storm to form in the Atlantic in 2024. In late May, the National Oceanic and Atmospheric Administration predicted that there would be 17 to 25 named storms this year, an above-normal amount. Without El Niño this year, clouds are more likely to tower to the tall heights needed to sustain a powerful cyclone.

Persons: Leer, Debby Organizations: Sunday, National Hurricane Center, Fort Myers, Fort Myers Cedar Key, United States, National Oceanic, Atmospheric Administration, Hurricanes Locations: Gulf of Mexico, Fort Myers Cedar, Fort Myers Cedar Key Tampa, United States

☆ Here are JPMorgan's top stock picks for August
▼ + stars: | 2024-08-03 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Some stocks have been added and others on this month's list. EQT Corp. has been added, while Arista Networks and Coherent Corp. – two names on last month's list – have been removed. Here are some of JPMorgan's top picks for August: EQT was named as part of the bank's value strategy. Of consumer stocks, McDonald's is also viewed as a value play, with shares of the fast-food chain down 7% this year. For growth stocks, Amazon made the cut.

Persons: EQT, McDonald's, Joe Erlinger, Brian Olsavsky, Donald Trump, Olsavsky, Eli Lilly –, – Organizations: JPMorgan, Dow Jones, EQT Corp, Arista Networks, Amazon, Paris, Microsoft Locations: EQT, McDonald's U.S

☆ Warren Buffett raises Berkshire cash level to record $277 billion after slashing stock holdings
▼ + stars: | 2024-08-03 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett walks the floor and meets with Berkshire Hathaway shareholders ahead of their annual meeting in Omaha, Nebraska on May 3rd, 2024. Berkshire Hathaway 's cash pile swelled to a record $276.9 billion last quarter as Warren Buffett sold big chunks in stock holdings including Apple . The Omaha-based conglomerate's cash hoard jumped significantly higher from the previous record of $189 billion, set in the first quarter of 2024. For the second quarter, Berkshire's operating earnings, which encompass profits from the conglomerate's fully-owned businesses, enjoyed a jump thanks to the strength in auto insurer Geico. Operating earnings totaled $11.6 billion in the second quarter, up about 15% from $10 billion a year prior.

Persons: Warren Buffett, Berkshire Hathaway, Tim Cook, Buffett, I've Organizations: Berkshire Hathaway, Berkshire, Apple, Oracle, Buffett, Bank of America, Federal Reserve, Dow, Industrial Locations: Omaha , Nebraska, Omaha, Berkshire

☆ Behind McKenzie Long’s Olympic debut, a mother’s love and a profound grief
▼ + stars: | 2024-08-03 | by ( Marcus Thompson Ii | ) www.nytimes.com time to read: +14 min

Then she was one of the darlings of the Olympic trials. It pushes me through.”Gabby Thomas and McKenzie Long embrace after the 200-meter at U.S. Olympic trials. Running for Ole Miss, McKenzie Long was 2024 NCAA outdoor champion in the 100- and 200-meter. I got us.”An open book like her mother, she’s talked of her bouts with anxiety, and how overwhelming the transition to professional has been. GO DEEPER Gabby Thomas, Olympic 200-meter favorite, is firmly in the spotlight — and ready for it(Top photo of McKenzie Long during U.S. Olympic trials: Charlie Neibergall / AP)

Persons: ” McKenzie Long, Long, Tara Elizabeth Jones, neé Murphy, Jones, “, ” Long, mascara, pouncing, it’s, she’d, Dang, Patrick Smith, could’ve, Sha’Carri Richardson, what’s, ”, Mom, “ You’re McKenzie Long, She’s, she’s, that’s, ” Gabby Thomas, McKenzie Long, Jake, Isaiah, McKenzie, Karmen — Jones, “ Tara, Lizzo, Jake Long, Kenzie, It’s, Ole, Morgan Engel, —, Bowerman, Michael, would’ve, Gabby Thomas, Jamaica’s Shericka Jackson, Saint Lucia’s Julien Alfred, Great, of Long, Charlie Neibergall Organizations: Adidas, U.S, Hayward, University of Oregon, Olympic, USA, Ole Miss, NCAA, Paris, Jones, West, North Carolina State’s, Carolina State’s, State, WSAZ News Locations: Hawaii, Eugene ,, Paris, Ironton , Ohio, West Virginia, Ironton, Columbus, North Carolina, N.C, State, N.C . State, America, Instagram

☆ The Retirement Home for N.F.L. Players That Never Was
▼ + stars: | 2024-08-03 | by ( Jenny Vrentas | Ken Belson | ) www.nytimes.com time to read: +1 min

In 2014, the Pro Football Hall of Fame announced plans for a $500 million development on its campus in Canton, Ohio. Included in the renderings was a senior care facility called Legends Landing. retirees, including those with cognitive diseases that researchers have associated with the repeated hits to the head many football players take during their careers. The care facility was trumpeted by N.F.L. Tom Benson, then the owner of the New Orleans Saints, committed $1 million toward Legends Landing as part of an $11 million contribution to the Hall of Fame.

Persons: Roger Goodell, Jerry Jones, Tom Benson, ” Mr, Benson, ” Organizations: Pro Football Hall of Fame, N.F.L, Dallas Cowboys, New, New Orleans Saints, Hall of Fame Locations: Canton , Ohio, New Orleans

Stocks declined heavily in Friday trading following a weaker-than-expected jobs report. The Dow Jones Industrial Average fell 810 points, or 2.3%. The U.S. added just 114,000 jobs in July, well below the 185,000 expected and down significantly from 206,000 in June. Amazon also saw a large decline, sliding 12.5% after missing quarterly financial estimates and issuing a disappointing forecast. A day earlier, stocks saw heavy declines as they responded to other weaker-than-expected data, including a disappointing manufacturing output report and surprisingly high initial jobless claims.

Persons: Stocks Organizations: Dow Jones, Nasdaq, U.S . Commerce Department, Intel Locations: U.S

Federal court records show that Joshua Conner Jones entered into a plea agreement with prosecutors regarding the treatment of two inmates at the Walker County jail. Jones agreed to plead guilty to one count of conspiracy to deprive an inmate of their rights related to the 2023 death of Tony Mitchell. The plea agreement indicated there were five co-conspirators in the mistreatment that led to Mitchell’s death, an indication that the investigation is ongoing and more people could be charged in the death. Court documents did not name the inmate who died, but Bower confirmed the charge was related to Mitchell’s 2023 death. Prosecutors wrote in the plea agreement that Jones admitted that “collectively we did it.

Persons: Joshua Conner Jones, Jones, Tony Mitchell, W Scott Brower, Bower, Mitchell, Mitchell “, Prosecutors, “, ” Jon C, Goldfarb, ” Mitchell, Jan, ” Organizations: U.S, Prosecutors Locations: MONTGOMERY, Ala, —, Alabama, Walker

☆ Appeals court: Separate, distinct minority groups can’t join together to claim vote dilution
▼ + stars: | 2024-08-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +2 min

NEW ORLEANS — Distinct minority groups cannot join together in coalitions to claim their votes are diluted in redistricting cases under the Voting Rights Act, a divided federal appeals court ruled Thursday, acknowledging that it was reversing years of its own precedent. At issue was a redistricting case in Galveston County, Texas, where Black and Latino groups had joined to challenge district maps drawn by the county commission. Circuit Court of Appeals initially upheld the decision before the full court decided to reconsider the issue, resulting in Thursday’s 12-6 decision. “Nowhere does Section 2 indicate that two minority groups may combine forces to pursue a vote dilution claim,” Jones, nominated to the court by former President Ronald Reagan, wrote. “To reach its conclusion, the majority must reject well-established methods of statutory interpretation, jumping through hoops to find exceptions,” Douglas wrote.

Persons: Edith Jones, ” Jones, Ronald Reagan, “, ”, Dana Douglas, Joe Biden, ” Douglas Organizations: Circuit, Supreme, Democratic, Republican, “, Union Locations: Galveston County , Texas, New Orleans, Texas , Louisiana, Mississippi, Galveston

☆ Daily Open: U.S. stocks fall; 10-year Treasury yield drops below 4%; Apple beats Street while Amazon falters
▼ + stars: | 2024-08-02 | by ( Kevin Lim | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks retreatU.S. stocks fell sharply on Thursday as weaker-than-expected jobs and manufacturing data sparked concerns about a rapid economic slowdown. The 10-year yield last traded at 3.981%, down 12.3 basis points, while the two-year yield eased to 4.156%. Looking ahead, Apple expects services to grow by about 14%. Apple CEO Tim Cook told CNBC's Steve Kovach the company has increased spending on Apple Intelligence to get it ready by fall.

Persons: Russell, Tim Cook, CNBC's Steve Kovach Organizations: New York Stock Exchange, Wall, CNBC, Dow Jones Industrial, Nasdaq, Labor Department, Institute for Supply, Treasury, U.S . Federal Reserve, Apple, Apple Intelligence, Tech, CNBC Pro Locations: New York City, Stocks

☆ Netflix's 'Unsolved Mysteries' examines the murders of Jack the Ripper. Meet four men suspected of being the notorious serial killer.
▼ + stars: | 2024-08-02 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +1 min

Jon Pizer/Leather ApronAn illustration of Jon Pizer in Netflix's "Unsolved Mysteries." NetflixThe police started looking into a suspect dubbed "Leather Apron" following the death of Polly Nichols, the Ripper's first victim, on August 31, 1888. Crime historian Adam Wood explained in the Netflix series that a man called Jon Pizer was later identified as "Leather Apron." Pizer told an inquest into Chapman's death on September 12, 1888 that he used the leather apron nickname. The website states Pizer told the Press Association after his release: "They found nothing in my possession that would incriminate me, thank God.

Persons: Jon Pizer, Polly Nichols, Annie Chapman, Adam Wood, Jack, Richard Jones, Pizer, Nichols, Chapman Organizations: Netflix, Press Association Locations: Whitechapel

☆ Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%
▼ + stars: | 2024-08-02 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported Friday. The unemployment rate edged higher to 4.3%, its highest since October 2021. "Temperatures might be hot around the country, but there's no summer heatwave for the job market," said Becky Frankiewicz, president of the Manpower Group employment agency. From a sector standpoint, health care again led in job creation, adding 55,000 to payrolls. The labor force also contracted by 214,000, though the participation rate as a share of the working-age population actually edged higher to 62.7%.

Persons: Nonfarm payrolls, Dow Jones, Becky Frankiewicz Organizations: Labor Department, Stock, Manpower Group Locations: U.S

☆ The market sell-off spills over into a global one
▼ + stars: | 2024-08-02 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Thursday's sell-off spilled over to international markets in a big way. .N225 5D mountain Nikkei sells off The Nikkei 225 , Japan's stock market benchmark, plunged 5.8% — marking its biggest one-day loss since March 2020. The common thread behind these declines seems to be concern that a U.S. economic slowdown would hurt global growth. Elsewhere on Wall Street this morning, Wells Fargo downgraded Morgan Stanley to underweight from equal weight, citing worries around the stock's valuation. "Further, MS doesn't seem to benefit as much from a capital markets recovery as GS, but trades at a significant valuation premium."

Persons: Thursday's, Taiwan's Taiex, Dax, That's, Adam Crisafulli, Jerome Powell, Wells, Morgan Stanley, Mike Mayo Organizations: Dow Jones Industrial, Nikkei, CAC, Intel, Dow Jones, Dow, Federal Locations: U.S, Asia, Europe, That's, Thurs

☆ Here are the top stocks to own right now, according to UBS
▼ + stars: | 2024-08-02 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

A handful of stocks may be due for some gains, even as the market sells off. The firm added three new names to the list from the industrials and materials sectors, including Freeport-McMoRan and Norfolk Southern . UBS said Air Products is at "the forefront of the energy transition," citing the progress it is making on large "blue" and "green" hydrogen projects. Meta is trading at a multiple of 23 times earnings on a forward price-to-earnings basis, per FactSet, and UBS sees shares as attractively valued. "The company should benefit from healthy user engagement, improving monetization of Reels, and longer-term monetization of Instagram and WhatsApp offer longer-term opportunities."

Persons: Russell, Nathaniel Gabriel, Gabriel, Robert " Kelly, Ortberg, Meta Organizations: Dow Jones, UBS, Norfolk, Air Products, Chemicals, Air, Boeing, Alaska Airlines Boeing, Max, DOJ Locations: Freeport, McMoRan

Search resuls for: "Jones"

25 mentions found