Economy
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U.S. stocks mostly higher in final hour of trade as investors parse jobless claims, await March jobs report
U.S. stocks traded mostly higher in the final hour of trade on Thursday, with the Dow Jones Industrial Average wavering between gains and losses, as investors digested weekly data on the number of Americans applying for unemployment benefits, while looking to Friday’s jobs report for signs of a slowing economy and the future of the…
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Bond market’s most deeply inverted gauge is pointing to ‘large slowdown in economic growth’ and ‘deep recession’
The most deeply inverted part of the U.S. yield curve is one that hasn’t sent a false signal about the prospects of a U.S. recession in more than a half-century of research. That’s the spread between 10-year and 3-month Treasury yields, which was around 153 basis points below zero as of Thursday — reflecting a…
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More than 168,000 tech-sector employees have lost their jobs since the start of 2023
More than 168,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by the website Layoffs.fyi. The website’s tally of 2023 global tech layoffs has gone up more than sixfold since mid-January. The data show that 2023 has surpassed 2022 for global tech redundancies, with 561 tech companies laying…
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10-year Treasury yield drops for sixth straight session, longest stretch since March 2020, amid recession fears
Most Treasury yields fell on Wednesday, with the 10-year rate declining for a sixth straight session, after data showed the U.S. economy’s private sector added fewer-than-expected jobs in March and reinforced recession fears. What happened The yield on the 2-year Treasury TMUBMUSD02Y, 3.787% declined 7 basis points to 3.761% from 3.831% on Tuesday. Wednesday’s level…
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Oil-production cuts threw ‘another log on the fire’ in Fed’s inflation fight, says BlackRock’s Rick Rieder
Soon after March’s sudden bank failures startled markets, April kicked off with surprise oil-production cuts that left investors worried about potential ripple effects on still high inflation. Rick Rieder, BlackRock’s chief investment officer of global fixed income and head of the firm’s global allocation investment team, said in a phone interview that when he saw…
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The commodity supercycle is still young, these strategists say. Here’s why.
Be careful what you wish for. U.S. job openings dropped below 10 million, a symbolic sign that the Federal Reserve’s efforts to combat inflation by sapping labor-market demand was working — and U.S. stocks promptly fell. Perhaps the bigger issue is that investors were not willing to push stocks out of the 3,800 to 4,200…
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Google parent company reportedly targets staplers in cost-cutting drive
The company that once put ping-pong tables in its offices is now rationing staplers. According to CNBC, Google is no longer providing staplers and tape to its print stations worldwide. The report quotes a facility directive from San Francisco, which stated, “if you need a stapler or tape, the receptionist desk has them to borrow.”…
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Dow closes 200 points lower as fewer job openings stoke recession worries
U.S. stocks closed lower Tuesday, with the Dow and the S&P 500 index snapping a four-day winning streak, as investors weighed new declines in factory orders, data hinting at a softening labor market ahead of Friday’s jobs report, and what that means for recession fears and interest rates. How stock indexes traded The S&P 500…
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Is your debt making you ill? How you can restructure or rethink loans to help you sleep at night.
Debt has been linked to greater health risks for older adults, but not all debts affect your health, and the exact mechanism that causes health issues isn’t yet known. Still, studies show that some types of debt — specifically unsecured loans like credit-card balances — coincide with health issues, and others, typically mortgages, don’t. Stacey Betts is a good…
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The 2023 Hyundai Ioniq 5: This highly-rated futuristic SUV is at the forefront of a fresh wave of electric vehicles
The Hyundai Ioniq 5 is our highest-rated electric SUV and the recipient of two Best Buy Awards for 2023: Best Electric Vehicle and Best New Model. Pricing starts at $41,450. More and more car buyers are wondering if their next purchase should be an electric vehicle. Not everyone can afford a Tesla TSLA, -1.12%, but…