Tag Archives: week

If jobs and wages told you everything you need to know about the U.S. economy, we’d be in a golden age. Employers added 431,000 new jobs in March, a muscular pace of hiring that shows no sign of abating. Job creation is averaging 562,000 new jobs per month so far this year, and 565,000 new jobs per month since President Biden took office in 2021. At this rate, the economy will exceed pre-pandemic levels of employment by summer. The unemployment rate dropped from 3.8% to 3.6% and is also on… Source link

The March jobs report takes center stage this week. The Labor Department’s monthly snapshot of U.S. employment will be closely watched by market participants and will carry special weight as Federal Reserve officials appear to signal more hawkishness in the central bank’s rate-hiking plans. Meanwhile, Core PCE, the Fed’s preferred inflation gauge, is also due out Wednesday and will offer further clues on how aggressive the next interest rate bump could be. Despite a streak of seesaw… Source link

Joe Biden, Oilman? He’d never characterize himself that way, given that he wants his presidency to mark the most decisive move yet toward green energy. But uncomfortable realities are forcing President Biden to tacitly condone new U.S. oil drilling and offer federal support for the increased production and export of U.S. natural gas. It could turn out to be the biggest unannounced pivot of his presidency. After Russia invaded Ukraine on Feb. 24, the United States and many other countries… Source link

After U.S. stocks staged a rebound last week in the wake of the Federal Reserve’s much-anticipated monetary policy decision, investors this week will look ahead to a somewhat quieter slate of corporate earnings and economic data releases. One of the most closely watched earnings reports will come after market close on Monday from Nike (NKE). As one of the few companies to report earnings that cover performance for this year, Nike’s fiscal third-quarter results will provide an update as to how… Source link

New unemployment claims improved more than expected last week, further reflecting a tight labor market and relatively low levels of firings and layoffs. The Labor Department released its latest weekly jobless claims report Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial jobless claims, week ended March 12: 214,000 vs. 220,000 expected, 227,000 during prior week Continuing claims, week ended March 5: 1.419… Source link

On Wednesday the Federal Reserve will likely take the first steps in paring back its stimulus — by raising interest rates for the first time since the global pandemic began. High inflation makes it a near certainty that the central bank will move to “tighten” its policies of printing money, by raising the target federal funds rate (the benchmark for short-term interest rates) by 0.25%. The uncertainty for Fed policy lies in how aggressive the central bank will move after the first… 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 Monday, March 14, 2022 I would compare this week in the markets to that feeling when you passed your driver’s test and were able to roam the open roads with freedom for the first time. So much anticipation on what’s possible, and it all lived up to the hype (until you got into your first accident, then it sucked). This week the Federal Reserve… Source link

A pivotal few days are underway for investors expectantly watching the Federal Reserve this week as it tees up for a long-anticipated liftoff on interest rates likely to come Wednesday, following the central bank’s two-day policy-setting meeting. Possible revisions to its forecast on rate hiking plans will be on the radar as war in Eastern Europe hangs over the global economy. The latest print on producer prices and February retail sales are also on traders’ agenda this week, along with… Source link

There’s a new villain in the US economy: Russian President Vladimir Putin. The White House now characterizes worrisome inflation as the “Putin price hike.” After the March 10 report showing inflation hit 7.9%, the highest level since 1982, President Biden put out a statement saying, “Families are starting to feel the impacts of Putin’s price hike.” During a March 9 trip to Texas, somebody asked Biden what he planned to do about rising gas prices. “Can’t do much right now,”… Source link

Applications for unemployment insurance inched up higher than expected in the latest weekly data but extended a broader trend downward after surging COVID-19 infections earlier this winter briefly disrupted the labor market’s recovery to start the year. The Labor Department released its latest weekly jobless claims report Thursday at 8:30 a.m. ET. Here were the main metrics from the print, compared to consensus estimates compiled by Bloomberg: Initial jobless claims, week ended March 5:… Source link