Ezra Bailey | The Image Bank | Getty Images Workers are poised to get smaller raises in 2024 — and their annual pay bumps are unlikely to increase again anytime soon amid a cooler job market, labor experts said. U.S. companies plan to give salary increases of 4%, on average, this year, down from 4.4% … Read more
Treasury yields moved in mixed directions on Friday as traders weighed the U.S. economic outlook following the latest nonfarm payrolls data release. The yield on the 10-year Treasury was up 3 basis points at 4.019%, crossing back above the key 4% level. It had retreated earlier in the morning. The 2-year Treasury yield was last … Read more
The United Nations issued a somber global economic forecast for 2024 on Thursday, pointing to challenges from escalating conflicts, sluggish global trade, persistently high interest rates and increasing climate disasters. In its flagship economic report, the U.N. projected that global economic growth would slow to 2.4 per cent this year from an estimated 2.7 per … Read more
The U.S. labor market closed out 2023 in strong shape as the pace of hiring was even more powerful than expected, the Labor Department reported Friday. December’s jobs report showed employers added 216,000 jobs for the month while the unemployment rate held at 3.7%. Payroll growth showed a sizeable gain from November’s downwardly revised 173,000. … Read more
Here are the most important news items that investors need to start their trading day: 1. Winning streaks in jeopardy A stellar run for U.S. stock has hit a hurdle this week. The major averages could break nine-week winning streaks after a poor start to 2024. The Dow Jones Industrial Average has fallen 0.7% for … Read more
The Maersk Sentosa container ship sails southbound to exit the Suez Canal in Suez, Egypt, on Thursday, Dec. 21, 2023. Stringer | Bloomberg | Getty Images Danish shipping giant Maersk said Friday it would extend its diversion of vessels from the Red Sea for the “foreseeable future” due to safety concerns amid a spate of … Read more
Shoppers at delicatessen market stall in Milan, Italy, on Thursday, Dec. 28, 2023. Bloomberg | Bloomberg | Getty Images Headline inflation in the euro zone jumped to 2.9% in December, up from 2.4% the previous month, though core inflation continued to ease. The annual print was a little lower than the 3% forecast in a … Read more
A now hiring sign is posted in front of a U-Haul rental center on November 03, 2023 in San Rafael, California. Justin Sullivan | Getty Images When the December jobs report is released Friday morning, markets will be looking for a number that hits a sweet spot between not so robust as to trigger more … Read more
After serving in the Trump administration for four years, former Treasury secretary Steven Mnuchin is keeping his distance from the former president and his campaign, according to people familiar with the matter. “Mnuchin has not been in the room,” said Stephen Moore, a conservative economist who is advising Trump. “I don’t know if it’s Mnuchin … Read more
A worker at a restaurant at Grand Central Market in Los Angeles, California, US, on Thursday, Nov. 2, 2023. Eric Thayer | Bloomberg | Getty Images Hiring in the private sector rose at a faster than expected pace in December, closing out a strong 2023 for the resilient U.S. jobs market, ADP reported Thursday. Private … Read more
