Stocks, recession, Fed, jobs, Boeing, Chevron
“The Craman Countdown” panelists Thomas Hayes and Nick Timilaos assess the current state of the U.S. economy. Weak job growth, manufacturing data send stocks plummeting Dow and S&P 500 fall sharply for the week, Nasdaq headed for correction Recession forecaster lights up, spooking Wall Street Fed Chairman Jerome Powell raises hopes for September rate cut […]
‘It Triggered’: Economist Who Created Recession Indicator Sounds Alarm After Dismal Jobs Report
Former Federal Reserve economist Claudia Sahm, who established the “Sahm Rule,” which has accurately predicted past recessions, warned the economy is on a concerning trajectory following a poor jobs report on Friday. The “Sahm Rule” is an indicator of the onset of a recession and occurs when the three-month unemployment rate average increases by 0.5% […]
stocks selloff, dow, S&P, Nasdaq, jobs report
Economist Peter Morici criticized the Biden administration’s economic policies, discussing tax cuts on Social Security benefits that former President Trump promoted during his election campaign. U.S. stocks are on their worst run since 2022 as a series of weak economic reports has fueled investor concern that a recession is on the way. All three major […]
Chevron relocates to Texas from California
See what’s clicking on FoxBusiness.com Oil giant Chevron is moving its headquarters from California to Texas, becoming the latest company to leave the state. The company announced plans Friday to relocate from its longtime home base in San Ramon to Houston. For more information on FOX Business, click here “The company plans to relocate all […]
US Job Growth Rate Fell In July As Economy Slowed
The U.S. added 114,000 nonfarm payroll jobs in July as the unemployment rate ticked up to 4.3%, according to Bureau of Labor Statistics (BLS) data released Friday. Economists anticipated that the country would add 175,000 jobs in July compared to the 206,000 added in initial estimates for June, and that the unemployment rate would remain stable […]
Amazon CEO boasts success of site’s pharmacy due to rampant crime in cities
Gerald Storch, CEO of Storch Advisors and former CEO of Toys R Us, responded to a new report that finds shoplifting has increased 24% across the US so far this year. The shopping platform’s CEO believes high crime rates in US cities are contributing to customers flocking to Amazon. Increasingly unpleasant experiences visiting urban pharmacies […]
Don Lemon Sues Elon Musk, X Over Show Cancellation
Former CNN journalist Don Lemon filed a lawsuit against billionaire Elon Musk and X over the cancellation of his contract to produce exclusive content for X, according to court documents filed Thursday. Lemon’s lawsuit alleges that Musk committed fraud, misrepresented the platform when pitching the deal, breached the contract, misappropriated Lemon’s name and likeness, and […]
Hyundai recalls nearly 50K SUVs across US over issue that could affect airbag
See what’s clicking on FoxBusiness.com More than 49,700 Hyundai Santa Fe and Santa Fe HEV sports utility vehicles (SUVs) are being recalled in the United States for an issue that may affect the functioning of airbags. The recalled SUVs, all of which are 2024 model years, are due to a problem with the main floor […]
Intel stock, chipmakers, AI, job cuts
Jason Katz, managing director and senior portfolio manager at UBS, discusses in Varney & Co. whether big tech earnings will boost the stock market. Intel shares plummeted after the company said it would cut about 17,000 jobs and suspend dividend payments as part of a massive cost-cutting plan. The company plans to “resize and refocus” […]
Vista Outdoor exploring alternative options instead of selling ammunition arm to foreign company
See what’s clicking on FoxBusiness.com Vista Outdoor is considering “strategic alternatives” after several shareholders criticized the sale of its ammunition division to Czech holding company Czechoslovak Group (CSG). Vista’s decision came on the same day the company was scheduled to hold a shareholders’ meeting to vote on the sale of Kinetic Group to CSG. Vista’s […]