Brent crude jumped above $80 per barrel again on Friday morning following...
Brent crude jumped above $80 per barrel again on Friday morning following Thursday's ECB rate cut decision.
Oil markets regained their breath after the Monday sell-off, which saw WTI plunge to $73 per barrel. Saudi Arabia and Russia insist that the gradual return of crude to the markets should be seen as a positive signal rather than a bearish one. The European Central Bank's interest rate cut has provided some macro upside to prices, raising hopes for a potential Federal Reserve interest rate cut in September.
U.S. economy generates more new jobs than forecast, but unemployment rate rises
According to Thomas Simons, a U.S. economist at Jefferies, this May jobs...
According to Thomas Simons, a U.S. economist at Jefferies, this May jobs report could be a sign that April's soft release was not, in fact, the start of a long-predicted slowdown in hiring.
It "now appears that the softness of April may have been influenced by the early timing of Easter more than anything else," Simons said in a note. "Some seasonal hiring probably shifted into March (+310k), and businesses ramping up for summer may have either delayed hiring until May, or simply couldn't fill positions until May due to tight labor market supply."
"Either way, it appears that the rumors of the death of the labor market were an exaggeration (h/t to Mark Twain)," he added. His note was titled: "Back on Track... Looks Like April was the Anomaly, Not the Death Knell."
SpaceX celebrates Starship test launch. For the first...
SpaceX celebrates Starship test launch. For the first time, the Elon Musk-run company launched the world’s most powerful rocket into space and successfully returned it to Earth. The Starship space vehicle stayed (mostly) in one piece during the fiery reentry into the atmosphere, losing just some protective components. It splashed down in the Indian Ocean, while the rocket booster landed in the Gulf of Mexico. The 397-foot rocket, designed to transport large quantities of cargo, satellites, or up to 100 people, is contracted to ferry NASA astronauts to the moon in 2026. Musk wants it to one day bring Earthlings to Mars.
Suzanne Collins is writing a new Hunger Games novel, Sunrise on the Reaping, that’s due for release in March 2025.
Robinhood bought the crypto exchange Bitstamp for $200 million as part of the trading platform’s push into digital assets.
A man in Mexico died from a type of bird flu that had never been seen in humans before.
The NHL is getting a behind-the-scenes docuseries on Amazon Prime Video from the producer of Drive to Survive.
Humane, the company whose AI pin was ripped to shreds by reviewers, is reportedly trying to sell itself to HP for $1 billion.
Benchmark U.S. crude oil for July delivery rose $1.48 to $75.55 per barrel Thursday. Brent crude for August delivery rose $1.46 to $79.87 per barrel.
Wholesale gasoline for July delivery rose 5 centsto $2.40 a gallon. July heating oilrose 6 cents to $2.36 a gallon. July natural gasrose 6 cents to $2.82 per 1,000 cubic feet.
U.S. stocks close mostly flat as Wall Street eyes Friday's jobs report
Stocks closed mixed Thursday after the European Central Bank cut rates...
Stocks closed mixed Thursday after the European Central Bank cut rates for the first time in five years. Investors looked ahead to Friday's monthly jobs report to help gauge the strength of the U.S. economy.
According to preliminary data, the Dow Jones Industrial Average added 78.84 points, or 0.2%, ending at 38,886.17.
The S&P 500 shed 1 point, or less than 0.1%, closing at 5,352.96.
The Nasdaq Composite lost 14.78 points, or 0.1%, finishing at 17,173.12.
Both the S&P 500 and Nasdaq scored record closes on Wednesday
Wall Street expects to see 190,000 new jobs in the May report, slightly up from April. The unemployment rate is expected to hold steady at a historically low 3.9%.
