Tag Archives: August

(Bloomberg) — Oil slid by the most since August, falling from overbought territory amid concerns around global economic growth. Most Read from Bloomberg Futures in New York declined as much as 3.2% on Thursday after holding at the highest since 2014 this week. Technical indicators have signaled oil has been due for a pullback since earlier this month. Meanwhile, the resurgence of lockdowns in Eastern Europe and Russia due to rising coronavirus cases are threatening the global economic… Source link

Stock futures opened in slightly positive territory on Tuesday, holding onto gains after a tech-led rebound rally during the regular session. Contracts on the S&P 500 ticked up. Earlier, Big Tech stocks led the blue-chip index higher, with investors swooping in to buy a dip in growth and technology names after a rout on Monday. That sent the Nasdaq higher by 1.3% in the index’s best day since August.  So far in October, equities have see-sawed between steep gains and losses, with investors… Source link

Home sales in the U.S. cooled down in the final month of summer. Existing home sales fell 2% to a seasonally adjusted 5.88 million units in August from a month earlier, according to the National Association of Realtors (NAR). July sales were revised slightly upward to 6 million units. The results exceeded analyst expectations of a 1.7% decline, according to Bloomberg consensus estimates. The dip was expected since pending home sales — a leading indicator for actual sales — fell for two… Source link

The August jobs report added just a third of the jobs expected, changing the expectations for the Fed’s future moves. Economists agree that the rising specter of the Delta variant over the economy is responsible for the slowdown in jobs numbers. Though demand for labor is still strong, the changes in the economy’s trajectory make it “unlikely” the Fed will announce a taper at the September meeting, Bank of America analysts wrote in a note Friday. A taper is when the Fed slows down its… Source link

The August jobs report out just before Labor Day missed big. The economy added just 235,000 new payrolls, dramatically falling short of expectations of 733,000 — by a third. The unemployment rate stayed the same at 5.4%. So why did it miss so big? Expectations underestimate the rising number of COVID cases. It sounds obvious in retrospect, but this month’s data encompasses the Delta variant’s economic impact, particularly on the leisure and hospitality sector. After adding 415,000 jobs in… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, September 3, 2021 The August jobs report matters like every other jobs report.  In just a few hours, the Labor Department will release the August jobs report, and expectations are that hiring slowed down last month.  Consensus estimates call for non-farm payroll growth of 725,000 during the month, with the unemployment rate expected to… Source link

Stock futures were in a holding pattern Thursday evening before the release of the Labor Department’s August jobs report, which will offer the latest look at the state of the U.S. labor market recovery. Contracts on the S&P 500 hugged the flat line after the index set a record intraday and closing high during Thursday’s regular trading day. The Nasdaq had also set a record high, while the Dow ended a three-session losing streak to close in the green. Investors are anxiously awaiting the Source link

U.S. private employers added back far fewer jobs than expected in August as the Delta variant’s spread began to take its toll on the pace of the labor market’s recovery. Private payrolls rose by 374,000 in August, ADP said in its closely watched monthly report on Wednesday. Consensus economists were looking for private payrolls to grow by 625,000, according to Bloomberg data. In July, private sector jobs increased by 326,000, according to the firm’s revised monthly print.  By sector,… Source link

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Stock futures opened higher Tuesday evening, with the major equity indexes holding near all-time highs heading into the first session of September.  Contracts on the S&P 500 rose. The index closed out a seventh straight monthly gain in August, rising nearly 3% during the month as strong earnings growth, an ongoing economic recovery and a still-accommodative Federal Reserve helped offset fresh concerns over the Delta variant’s spread. Still, the Nasdaq outperformed with a monthly rise of 4%,… Source link