DIRS.INFO The most relevant business & tech news

☆ Dollar General has 48 hours to make its stores safer or it will face big fines
▼ + stars: | 2024-07-11 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

Dollar General will also reduce merchandise levels in stores to prevent blocked fire exits. The agreement also requires Dollar General to correct any safety violations related to blocked exits or access to fire extinguishers and electrical panels within 48 hours. Dollar General could face fines up to $500,000 per violation. Last year, the Labor Department agreed to a settlement with Dollar Tree to improve worker safety in stores. Dollar General is the fastest-growing retailer in the United States, with more than 19,000 small stores.

Persons: ” Douglas Parker Organizations: New, New York CNN —, Department of Labor, Labor Department, Department of, Safety, Health, Walmart, Target Locations: New York, United States

☆ Americans are suddenly finding it harder to land a job — and keep it
▼ + stars: | 2024-07-08 | by ( Elisabeth Buchwald | Alicia Wallace | ) edition.cnn.com time to read: +5 min

Suddenly, the red-hot labor market is feeling closer to lukewarm for job seekers. The unemployment rate rose to a three-year high of 4.1% in June, with 6.8 million people unemployed. At that time a year ago, the unemployment rate was at 3.6% and 6 million people were unemployed. The rising unemployment rate — driven primarily by more people entering the workforce — means that it’s getting more competitive for job hunters to get hired. Since 2022, the temporary help sector has added jobs in only four months.

Persons: It’s, Luke Pardue, switchers, David Tinsley, Jack McIntyre Organizations: CNN, Aspen, Bank of America, Bank of America Institute, “, of Labor Statistics, Labor Department, Brandywine Global

☆ A key part of America’s economy has shifted into reverse
▼ + stars: | 2024-07-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington CNN —A vast swath of the US economy is showing signs of weakness as unemployment rises to its highest point in more than two years. “When you think of services, a lot of it is driven by the consumer, and consumers are key to where the US economy goes,” James Knightley, chief international economist at ING, told CNN. Consumer spending, which makes up about 70% of the US economy, has already moderated over the past few months, government statistics show, and retailers themselves have said they’ve noticed shoppers across the income spectrum change their purchasing behavior. The bottom 60% of households by income accounted for a larger proportion of spending on health care services. These firms have added 168,000 jobs a month, on average, from April through June, according to fresh Labor Department data released Friday.

Persons: “, ” James Knightley, “ We’re, Knightley, Scott Hamilton, Gallagher, It’s, Tesla, China’s Geely, Laura He, Elon, Jerome Powell, Michael Barr, Michelle Bowman, Austan Goolsbee, Raphael Bostic Organizations: CNN Business, Bell, Washington CNN, Institute, Supply, ING, CNN, Commerce, Service, Labor Department, EV, Volvo, SAIC, Elon Musk’s, Business, Committee, Fed, China’s National Bureau of Statistics, Financial Services, Chicago Fed, Pepsico, Delta Air Lines, ConAgra Brands, US Labor Department, Atlanta Fed, JPMorgan Chase, Citigroup, The, New York Mellon, The University of Michigan Locations: Washington, United States, California, Jiangsu, China, Shanghai, Wells Fargo

America’s job market remains solid, but it has lost momentum over the past year. The Federal Reserve is watching closely to see if it will continue to hold up or weaken more than expected. Fed Chair Jerome Powell said this week at an economic forum in Portugal that the risk of inflation reaccelerating has come into better balance with the risk of the job market unexpectedly deteriorating. Fed officials indicated in their latest economic projections that they expect to cut interest rates just once this year, which have been at a 23-year high for a year now. It rose to 4.1% in June, according to the Labor Department’s latest tally.

Persons: Jerome Powell, ” Powell, ”, Mary Daly Organizations: Federal, ” San Francisco Fed, Labor Locations: Portugal, ” San

☆ U.S. economy added 206,000 jobs in June, unemployment rate rises to 4.1%
▼ + stars: | 2024-07-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

Job seekers attends the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena on June 26, 2024 in Sunrise, Florida. Joe Raedle | Getty ImagesThe U.S. economy again added slightly more jobs than expected in June though the unemployment rate increased, the Labor Department reported Friday. The unemployment rate unexpectedly climbed to 4.1%, tied for the highest level since October 2021 and providing a conflicting sign for Federal Reserve officials weighing their next move on monetary policy. A broader unemployment rate which counts discouraged workers and those holding part-time jobs for economic reasons held steady at 7.4%. Household employment, which is used to calculate the unemployment rate, increased by 116,000.

Persons: Joe Raedle, Nonfarm, Dow Jones Organizations: Amerant, Labor Department, Dow, Federal Reserve Locations: Florida, Sunrise , Florida

☆ Here's where the jobs are for June — in one chart
▼ + stars: | 2024-07-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Health care and social assistance added 82,400 jobs, while government increased by 70,000 positions. The breakdown of the June jobs report suggests that growth has become increasingly uneven as the labor market shows signs of softening. Health care and social assistance have been a key component of the labor market recovery since the pandemic. Meanwhile, education accounted for 17,200 of the jobs added in the government sector. Both state and local governments added jobs outside of education, as well.

Persons: nonfarm payrolls, Jeffrey Roach, payrolls, Roach Organizations: Labor Department, LPL

☆ CNBC Daily Open: Tesla powers S&P 500, Nasdaq to record highs
▼ + stars: | 2024-07-04 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Record highsThe S&P 500 and the tech-heavy Nasdaq Composite closed at record highs in a shortened session ahead of the July 4 Independence Day holiday. The yield on the 10-year Treasury fell as the latest economic data indicated the jobs market was cooling. Despite some officials advocating for potential rate hikes, the Federal Open Market Committee ultimately decided to hold rates steady. [PRO] Tesla bull caseWedbush analyst Dan Ives raised his Tesla price target to $300 from $275, with a bull case of $400 by 2025.

Persons: Nela Richardson, Elliott Management's, Elliott, Bob Jordan, Gary Kelly, JPMorgan's Kolanovic, Marko Kolanovic, Kolanovic, Dubravko, Dan Ives Organizations: CNBC, Nasdaq, Nvidia, Dow Jones, Treasury, Federal Reserve, Federal, Market Committee, ADP, Southwest Airlines Locations: U.S

☆ Indian officials visit Foxconn iPhone plant, question executives about hiring, Reuters reports
▼ + stars: | 2024-07-04 | by ( ) www.cnbc.com time to read: +2 min

Indian labor officials visited a Foxconn factory in the country's south this week and questioned executives about the company's hiring practices, Reuters reported. Narasaiah said Foxconn told the labor officials the factory employs 41,281 people, including 33,360 women. He added that the labor inspectors interviewed 40 married women inside the plant, who raised no concerns about discrimination. Foxconn HR sources and third-party hiring agents cited family duties, pregnancy and higher absenteeism as reasons for not hiring married women. The reporting also found that Taiwan-based Foxconn relaxes the practice of not hiring married women during high-production periods.

Persons: Foxconn, Narendra Modi's, Narasaiah Organizations: Reuters, Apple, government's Regional, Labour Locations: Chennai, Tamil Nadu, Taiwan

☆ Private payrolls grew by just 150,000 in June, less than expected
▼ + stars: | 2024-07-03 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Private payroll growth edged lower in June, according to a report Wednesday from ADP that indicates a potential slowdown in the U.S. labor market. Companies added 150,000 jobs for the month, below the upwardly revised 157,000 in May and the Dow Jones consensus estimate for 160,000. The sector added 63,000 jobs, easily the biggest gain among the categories that payrolls processing firm ADP measures. ADP's report serves as a precursor to the more closely watched nonfarm payrolls count that the Labor Department will release Friday. For May, the BLS reported that private payrolls rose by 229,000, or 72,000 more than ADP's estimate.

Persons: Dow Jones, Nela Richardson, Job switchers Organizations: Companies, Labor Department, ADP, of Labor, BLS Locations: U.S

☆ We're changing our rating and price target on a beauty stock tied to China
▼ + stars: | 2024-07-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Downgrade : We're dropping Estee Lauder to our 2 rating from a buy-equivalent 1 rating and lowering our price target to $140 per share from $162. 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, Estee Lauder, Nicolas Hieronimus, Hieronimus, Lauder YTD, Lauder, Jim Cramer's, Jim Organizations: CNBC, Apple, Microsoft, Nike, Management, L'Oreal, JPMorgan, Labor, Jim Cramer's Charitable Locations: China

☆ US employers want more part-time workers. Here’s what that means
▼ + stars: | 2024-06-30 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

“So far, the labor market has adjusted slowly, and the unemployment rate has only edged up. The industries that were most likely to advertise part-time work as of May were beauty and wellness; personal care and home health; retail; food preparation and service; and sports, Indeed said. During the Great Recession from 2007 to 2009, part-time work rose sharply, according to research from the San Francisco Fed. “There was this rise in part-time work when the economy and the labor market were doing well coming out of the pandemic,” Culbertson told CNN. The US Labor Department releases June figures gauging the state of the labor market, including monthly job growth, wage gains and the unemployment rate.

Persons: Mary Daly, ” Daly, Daniel Culbertson, ” Culbertson, Alicia Wallace, Friday’s, Jerome Powell, John Williams Organizations: CNN Business, Bell, Washington CNN — Companies, Labor Department, Federal Reserve, San Francisco Fed, Commonwealth Club World Affairs of, CNN, Commerce Department, Commerce, P Global, Institute for Supply Management, European Central Bank, US Labor Department, Constellation Brands, Constellation Brands . New York Fed, US Commerce Department, New York Fed Locations: Washington, Commonwealth Club World Affairs of California, Constellation Brands .

☆ Live Updates: Supreme Court Overrules Chevron Doctrine, Imperiling an Array of Federal Rules
▼ + stars: | 2024-06-28 | by ( Adam Liptak | ) www.nytimes.com time to read: +12 min

But that gave too much power to unelected government officials, according to conservatives, who ran a coordinated, multiyear campaign to end the Chevron doctrine. The Environmental Protection AgencyEnvironmentalists fear that the end of the Chevron doctrine will mean the elimination of hundreds of E.P.A. “I would expect the industry to attack the F.D.A.’s authority to do premarket review at all,” said Desmond Jenson, deputy director of the commercial tobacco control program at the Public Health Law Center. Others noted the Chevron decision could have a chilling effect, compelling the F.D.A. “The Supreme Court has not relied on Chevron in quite a few years,” she said.

Persons: ”, Lisa Heinzerling, Donald J, Trump, Mandy Gunasekara, President Trump, Jonathan Berry, doesn’t, ” Rather, Berry, ” Mr, Chevron, Biden, Garden, “, Desmond Jenson, Nicholas Bagley, Rachel Sachs, Louis, Abbe R, Gluck, Ms Organizations: Georgetown University, “, Congress, Labor, Act, Republican, Trump, Chevron, Labor Department, Mr, Environmental Protection Agency, Biden, University of Minnesota, The National Labor Relations Board, Food, Drug Administration, Public Health Law Center, Health, Affordable Care, University of Michigan, Washington University School of Law, Department of Health, Human Services, Centers, Medicare, Services, Yale Law School, Treasury, Internal Revenue, Treasury Department, Internal Revenue Service Locations: Chevron, St

☆ Americans are finding it harder to get a new job
▼ + stars: | 2024-06-27 | by ( Alicia Wallace | ) edition.cnn.com time to read: +3 min

CNN —Americans are staying unemployed for longer, the latest Labor Department data shows, in a reflection of a slowing economy. The number of Americans receiving jobless benefits for multiple weeks climbed to its highest level since November 2021, according to a Department of Labor report released Thursday. While the number of initial claims remains near pre-pandemic levels (but well below historical averages), they’ve moved higher in recent weeks. Weekly jobless claims data, which is looked at as a proxy for layoff activity, can be highly volatile and is frequently revised. Still, the trend as of late has been an upward one, economist Ian Shepherdson wrote in a note to clients Thursday.

Persons: they’ve, Ian Shepherdson, Shepherdson, ”, “ Organizations: CNN, Labor Department, Department, Labor, Pantheon, Federal, Consumer

☆ Modi's government calls on Indian state to look into report on Foxconn hiring
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +1 min

Indian Prime Minister Narendra Modi's government on Wednesday said it has asked the Tamil Nadu state to submit a "detailed report" after a Reuters story revealed that Apple supplier Foxconn rejected married women from iPhone assembly jobs in the country. Indian Prime Minister Narendra Modi's government on Wednesday said it has asked the Tamil Nadu state to submit a "detailed report" after a Reuters story revealed that Apple supplier Foxconn rejected married women from iPhone assembly jobs in the country. The ministry said it has requested a detailed report from the Labor Department of Tamil Nadu, site of a major iPhone factory where Reuters uncovered Foxconn's practice of shunning married women from jobs. The Labor Ministry said it also directed the office of the Regional Chief Labor Commissioner to provide a "factual report." The Tamil Nadu state government did not immediately respond to Reuters' request for comment outside office hours.

Persons: Narendra Modi's, Foxconn Organizations: Indian, Apple, government's Ministry of Labor, Labor Department of Tamil, Reuters, Labor Ministry, Regional Chief Labor Locations: Tamil, Labor Department of Tamil Nadu, India, Chennai, Tamil Nadu

☆ America’s housing crisis continues to worsen
▼ + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.

Persons: ” Lael Brainard, ”, “, Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, “, White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China

☆ Amazon hit with $5.9 million fine for violating California labor law
▼ + stars: | 2024-06-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

California's labor regulator on Tuesday said it fined Amazon nearly $6 million for violating a state law aimed at curtailing the use of onerous warehouse productivity quotas. The California Labor Commissioner's Office said it investigated two Amazon facilities in Moreno Valley and Redlands, both located east of Los Angeles, and found 59,017 violations of the state's Warehouse Quotas law, officials said. The Warehouse Quotas law went into effect in 2022 and requires employers to disclose productivity quotas to employees and government agencies, as well as any discipline workers may face for not meeting them. The law also prohibits employers from requiring warehouse employees to meet unsafe quotas preventing them from taking state-mandated meal and rest breaks or using the bathroom. The Labor Department's Occupational Safety and Health Administration has also cited Amazon numerous times for safety violations.

Persons: Lilia Garcia, Brower, Sen, Ed Markey, It's, Maureen Lynch Vogel, they're Organizations: Amazon, California Labor Commissioner's Office, Labor, Occupational Safety, Health Administration Locations: California, Moreno Valley, Redlands, Los Angeles, Washington, New York, Minnesota, U.S

☆ The job market has 3 weak spots that could bring steeper Fed rate cuts, Goldman Sachs says
▼ + stars: | 2024-06-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Comparing today's job market to previous years when the Fed cut rates also shows some cause for concern. AdvertisementIf the job market continues to weaken, that makes a greater case for the Fed to cut rates, the bank said. Related storiesHere are three areas of labor market weakness that could mean more downside for interest rates:1. Employment is also falling among workers aged 16-24, the "most volatile" cohort of the job market, strategists added. Just 10%-15% of new labor market entrants are finding a job, according to Goldman's analysis of labor market data.

Persons: —, Goldman Sachs Organizations: Service, Federal Reserve, Business, Labor, Fed, Department of Labor, Goldman Sachs Global Investment Research, of Labor Statistics, Goldman, Industries, Labor Department Locations: ManpowerGroup

☆ America’s top central banker says the job market is back to normal. Is that true?
▼ + stars: | 2024-06-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? Why is the job market slower now? The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.

Persons: Washington CNN —, “, Jerome Powell, Powell, it’s, Bell, Julia Pollak, they’re, They’re, Olesya Dmitracova, Emmanuel Macron, Read, Patrick Harker, Lisa Cook, Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem, Goolsbee Organizations: CNN Business, Bell, Washington CNN, Fed, Labor, EU, National, New York Fed, Manufacturing Index, Reserve Bank of Australia, US Commerce Department, Federal Reserve, National Association of Home Builders, Accenture, Kroger, Darden, Bank of England, US Labor Department, Philadelphia Fed, Richmond Fed, Global, National Association of Realtors Locations: Washington, France, Wells Fargo

☆ Welcome to the age of geriatric millionaires
▼ + stars: | 2024-06-15 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

While it makes sense that time is often a crucial ingredient to accruing savings and assets, the average age of millionaires in the US has been rising faster than the average age of the overall population over the last three decades. How millionaires are changingSince 1992, the average age of the country's millionaires has been going up. That means that younger millionaires aren't joining their ranks fast enough to keep the average age steady. Millionaires are overrepresented beginning around age 50, but track pretty cleanly with the cohort in their 40's. What does it mean to have so many older millionaires?

Persons: —, Chuck Collins, inequality.org, Collins, America's, aren't, Garrett Watson, that's, Watson, Xers, Gen Xers, they've, haven't, That's, It's, Ed Yardeni, They're, Redfin, King Charles, King Charles III of, it's, You've Organizations: Service, Business, Policy Studies, Forbes, Consumer, Millionaires, Tax, Security, Labor, Institute for Policy Studies Locations: United Kingdom

☆ Wholesale prices unexpectedly fell 0.2% in May
▼ + stars: | 2024-06-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A measure of wholesale prices unexpectedly decreased in May, adding another piece of evidence that inflation is pulling back. The producer price index, a gauge of prices that producers get for their goods and services in the open market, declined 0.2% for the month, the Labor Department's Bureau of Labor Statistics reported Thursday. Excluding food, energy and trade services, the PPI was unchanged, compared with expectations for a 0.3% increase. From the wholesale perspective, the PPI was held back by a 0.8% decrease in final demand goods prices, which was the largest decline since October 2023. On the services side, fuels and lubricants retailing margins surged 12.2%, but that was offset in part by a 4.3% plunge in airline passenger services prices.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Statistics, PPI, Stock, BLS, Federal Reserve, Labor Department

☆ Oil prices hold firm, on pace for weekly gain, as inflation appears to ease in U.S.
▼ + stars: | 2024-06-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Oil prices have gained about 4% this week, recovering from a sell-off last week on an OPEC+ plan to increase production in the fourth quarter. Oil market analysts generally viewed the sell-off as an overreaction. Lower interest rates typically boost economic growth and lift crude oil demand. The U.S. reported a surprise oil stockpile build of 3.7 million barrels, whereas analysts had expected inventories would fall. A growing number of analysts see the oil market tightening at least through the third quarter before loosening in 2025.

Persons: Tamas Varga, " Varga, Peter Low Organizations: Fed, Labor Department, U.S Locations: U.S, OPEC

☆ Key takeaways from the Fed’s latest interest rate decision
▼ + stars: | 2024-06-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Officials penciled in just one rate cut this year, according to their latest economic projections, compared to the three they forecast in March. They also expect inflation to be more stubborn this year than they thought in the spring, according to their forecasts. The Fed has kept interest rates at a 23-year high for nearly a year, after kicking off an aggressive rate-hiking campaign in March 2022. Here are key takeaways from the Fed’s latest decision on interest rates. Still-high inflation is continuing to eat into some budgets, pandemic savings are drying up, borrowers continue to pile on more debt and the highest interest rates in nearly a quarter century are squeezing Americans.

Persons: Jerome Powell, Powell, ’, it’s, ”, “ We’ve, ” Powell, trickling, Wall, Matt Colyar, “ Organizations: Washington CNN, Federal Reserve, Labor Department, That’s, CPI, Fed, Moody’s Locations: April’s

☆ Where’s inflation really heading? Traders and economists are using this real-time inflation gauge to get ahead of the curve
▼ + stars: | 2024-06-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The inflation rate the government arrives at also impacts how much you receive in Social Security benefits and likely is a factor in determining your pay. The government also has a much longer history of producing inflation reports with extremely thorough standards. Like PCE and CPI, Truflation assigns relative importance values to categories to mirror how an average consumer’s income is allocated. That’s why small increases in the cost of housing can end up having big impacts on the overall inflation rate. How Truflation data is being usedWall Street traders were the first group drawn to Truflation, Rust said.

Persons: Truflation, Hilton, Stefan Rust, Rust, “, ” Danielle DiMartino Booth, Richard Fisher, Booth Organizations: New, New York CNN, Index, Federal, Social Security, PCE, CPI, Amazon, Walmart, Nielsen, Bureau of Labor Statistics, Labor Department, CNN, Dallas Fed, QI Research Locations: New York, Zillow

☆ Inflation slows in May, with consumer prices up 3.3% from a year ago
▼ + stars: | 2024-06-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The monthly rate rose 0.3% in April while the annual rate was 3.3%. Though the top-line inflation numbers were lower for both the all-items and core measures, shelter inflation increased 0.4% on the month and was up 5.4% from a year ago. Housing-related numbers have been a sticking point in the Federal Reserve's inflation battle and make up a heavy share of the CPI weighting. Though the Fed doesn't use the CPI as its main inflation indicator, it still figures into the calculus.

Persons: Dow Jones, Price, Robert Frick, Joseph LaVorgna, FOMC Organizations: department's Bureau of Labor Statistics, Labor Department, Treasury, Dow Jones, Navy Federal Credit Union, Federal Reserve, CPI, Nikko Securities, Commerce Locations: U.S

☆ JPMorgan's equity strategist says stocks are ignoring 'abundant' risks, sees maybe one Fed cut
▼ + stars: | 2024-06-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The outlook for stocks looks dour as the chances of Federal Reserve rate cuts decrease and risks abound, according to JPMorgan's Marko Kolanovic. Indeed, the S & P 500 initially ripped higher on Friday after the data was released but closed along the flatline for the day. .SPX YTD mountain S & P 500, YTD Against this backdrop, the strategist reiterated his "defensive tilt," staying overweight commodities and cash and being underweight stocks. JPMorgan is the most bearish firm out of all those surveyed by CNBC PRO with an S & P 500 target of 4,200. The S & P 500 closed Monday at 5,360.79.

Persons: JPMorgan's Marko Kolanovic, Dow Jones, Kolanovic Organizations: Equity, Labor Department, Dow, Investors, JPMorgan, CNBC PRO Locations: U.S

Search resuls for: "Labor Department"

25 mentions found