U.S. stocks are recoiling on worries that Friday’s good news on the job market may be too good and prove to be bad for Wall Street by keeping inflation and interest rates high. Stocks took their cue from the bond market, where yields leaped to crank up the pressure after a report from the Labor Department said U.S. employers added many more jobs to their payrolls last month than economists expected.
Constellation Energy (CEG) agreed to acquire privately-held energy company Calpine in a cash-and-sto
NEW DELHI/LONDON (Reuters) -The United States will impose some of the harshest sanctions yet on Russia's oil industry, according to a purported U.S. Treasury document circulating among traders in Europe and Asia that drove global oil prices 3% higher on Friday. Some 180 vessels, dozens of traders, two major oil companies and some senior Russian oil executives, are designated in the sanctions, reports of which pushed global oil prices above $80 per barrel. Reuters could not immediately verify the veracity of the document and the U.S. Treasury Department did not immediately respond to a request for comment.
(Bloomberg) -- A resilient labor market signals the US is leading the global economy, and high US bond yields put pressure on others like the UK, according to Mohamed El-Erian. Most Read from BloombergWhat Robotaxis Brought San FranciscoA Blueprint for Better Bike LanesNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeUS Treasuries sold off across the curve, s
(Bloomberg) -- A top Turkish central bank official told bankers that the pace of interest-rate cuts will be based on the course of inflation, pushing back against market expectations for sizable, consecutive reductions, according to people familiar with the matter. Most Read from BloombergWhat Robotaxis Brought San FranciscoA Blueprint for Better Bike LanesNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC’s Subway Violen
WASHINGTON (Reuters) -U.S. job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year on a solid footing, reinforcing views that the Federal Reserve would keep interest rates unchanged this month. The Labor Department's closely watched employment report on Friday also showed a decline last month in the number of people who have permanently lost their jobs and a shortening in the median duration of unemployment. A rise in these measures had raised concerns about labor market deterioration.
TD SYNNEX Corp (NYSE:SNX) shares are trading higher on Friday after the company reported its fourth-quarter results. Quarterly revenue of $15.85 billion, up 10% Y/Y, exceeded the analyst view of $15.22 billion. The Fremont, California-based company reported an adjusted EPS of $3.09, beating the street view of $3.05. On a constant currency basis, revenue increased 9.2%, led by growth in both the Advanced Solutions and Endpoint Solutions portfolios. Adjusted gross billings were $21.2 billion in th
IT unemployment slid to 2023 levels in December as employers added 7,000 net new IT jobs, according to a CompTIA report.
Adopting traditional banking standards safeguards consumer assets, proving conservative strategies often outperform high-risk crypto schemes.
The U.S. dollar rallied across the board on Friday after data showed the world's largest economy created more jobs than expected last month, reinforcing expectations that the Federal Reserve will pause its rate-cutting cycle at its policy meeting later this month. The dollar rose to its highest since July against the yen after the data and was last up 0.1% at 158.27 yen. The U.S. currency has risen in five of the last six weeks.
