Jobs Data Fuels Weekly Surge to New Highs for Nasdaq Composite and S&P 500
This week, the government’s non-farm payroll report was released on Thursday, with economists estimating a solid increase of 110,000 jobs for June, based on forecasts from Dow Jones. In contrast, the ADP report indicated 33,000 unemployment claims in the private sector, which created some negative sentiment before the official employment data was announced. Monday, July […]
Microsoft Requests 6,000 H-1B Visas While Reducing Workforce by 9,000 Jobs
Microsoft’s H-1B Visa Applications Amid Layoffs Recently, Microsoft has come under fire for applying for thousands of H-1B visas while also planning to lay off around 9,000 employees. This decision has stirred notable frustration, particularly among those who argue that American jobs should take precedence, especially in times of economic instability. This week, reports surfaced […]
S&P 500 and Nasdaq Surge to New Highs Following Positive Jobs Data
Stock Market Reaches New Highs Ahead of Holiday The stock market closed at a new high as the week shortened with the upcoming holiday on Thursday. The Nasdaq composite surged by 1%, while the S&P 500 increased by 0.8%. Both indexes extended gains from the previous day’s close and set new intraday records. The Dow […]
EUR/USD falls back as US jobs report strengthens US Dollar
The EUR/USD pair has weakened following the June non-farm payroll report, which underscored the strength of the US labor market and has somewhat alleviated the Federal Reserve’s urgency to lower rates in July. US yields are expected to support the dollar ahead of Friday’s Independence Day, potentially impacting liquidity and market volatility. EUR/USD encounters short-term […]
Stock Futures Steady Before June Jobs Report as Market Aims for Record Highs
Market Expectations for Interest Rate Reduction Fade in July In light of an exceptionally strong employment report for June, market participants are starting to rethink their expectations regarding interest rate cuts from the Federal Reserve this month. Many investors are hopeful that the Fed could make a move soon regarding interest rates. Before the employment […]
“It’s Perfectly Adequate”: Santelli Praises Another Positive Jobs Report for Trump
June Employment Report Surprises with Strong Job Growth CNBC host Rick Santelli praised the recent employment report, highlighting that June saw an unexpected increase in jobs, deeming it “a pretty good number.” According to the Bureau of Labor Statistics, 147,000 jobs were added in June, surpassing economists’ predictions of 106,000. Additionally, Santelli pointed out a […]
Reporter Describes the Jobs Market as Always Active
US Job Market Surprising Amid Negative Forecasts On Thursday, CNN business reporter Matt Egan highlighted that the job market has defied pessimistic predictions. In June, the US economy added 147,000 non-farm payroll jobs, according to data released by the Bureau of Labor Statistics (BLS). Egan noted that both the job creation numbers and unemployment rates […]
GBP/USD declines under 1.3650 due to worries about UK debt and attention on US jobs data.
GBP/USD is facing sales pressure around 1.3625 during Thursday’s Asian session. Concerns regarding UK debt appear to be weighing on the pound. US employment data for June will take center stage later today. The GBP/USD exchange rate is expected to decline further to nearly 1.3625 as trading continues in Asia on Thursday. The British pound […]
The June jobs report poses a risk to the stock market, according to JPMorgan’s trading desk.
JPMorgan’s trading desk has noted that if Thursday’s employment report mirrors a weak private payroll number from ADP, the US stock market might face significant selling. In a memo released Wednesday, the JPM US Market Intelligence team suggested that the market could rise if the employment figures are close to expectations, although there’s a notable […]
California’s film tax credit increase officially enacted to attract Hollywood jobs back.
California Increases Film and Television Tax Credit Program Nine months ago, Governor Gavin Newsom committed to more than doubling the annual funding for California’s Film and Television Tax Credit Program. Standing alongside Mayor Karen Bass and a union representative, Newsom emphasized the need for the state to take significant actions. Hollywood, he noted, originated in […]