Another lackluster jobs report expected. Friday’s...
Another lackluster jobs report expected. Friday’s monthly employment snapshot is projected to show that US employers added 75,000 jobs in July. That would make it the fourth straight month with sub-100k jobs growth—something that hasn’t happened since the beginning of Covid, per Bloomberg. The report will be a key data point for the Fed as the central bank tees up an interest rate cut later this month to help prop up the slowing labor market.
Nestlé, the world’s largest food company, ousted its CEO Laurent Freixe over an “undisclosed romantic relationship” with a direct subordinate.
A 6.0-magnitude earthquake killed more than 800 people and injured over 1,300 in eastern Afghanistan late Sunday.
Starbucks said its newly launched fall menu led to the “best-ever sales week” at company-operated stores in the US.
A CEO of a Polish paving company apologized after a viral video showed him taking a signed hat from a child at the US Open.
The Long Walk, a new Stephen King movie adaptation, held a screening this weekend in which viewers walked on treadmills—and if they got tired, they had to leave.
Gold prices hit all-time high on rising uncertainty; U.S. stock futures flat
U.S. stock-market futures were flat Monday while...
U.S. stock-market futures were flat Monday while gold and silver futures hit new all-time highs, amid uncertainty around the Fed’s independence and the Trump administration’s tariffs, as well as rising optimism about potential interest-rate cuts.
The continuous contract for gold futures on the New York Mercantile Exchange rose to a record high of $3,552.40 an ounce on Monday. Gold was most recently trading up 0.9%, around $3,547. The precious metal has seen its price soar about 34% year to date. The continuous contract for silver also surged 2% to a new high Monday, at $41.760. Silver was most recently trading at $41.580, up about 42% this year.
After initially rising about 40 points, Dow Jones Industrial Average futures were last down 40 points, or 0.1%. S&P 500 futures and Nasdaq-100 futures also gave up early gains and were down slightly. Bitcoin sank to near the $108,000 level, while crude oil, as reflected by West Texas Intermediate front-month prices , gained nearly 1%. The ICE U.S. Dollar Index , which measures the greenback against a basket of six foreign rivals, edged lower.
Gold and silver are seen as safe-haven assets, and their appeal has gained amid fears that the U.S. Federal Reserve may lose its independence, weakening the dollar. President Donald Trump has, for months, pressured Fed Chair Jerome Powell to slash interest rates, and his recent attempt to fire Fed governor Lisa Cook is seen by many as an attempt to impose control over the central bank.
Russia cuts gas supplies through its only remaining pipeline to Europe
Russia’s state gas monopoly Gazprom slightly...
Russia’s state gas monopoly Gazprom slightly reduced gas exports to Europe via the TurkStream pipeline in August, following a sharp increase in July, The Moscow Times wrote on Sept. 1.
Deliveries decreased by 2%, from 51.5 million cubic meters per day in July to 50.4 million in August.
With supplies through Yamal-Europe, Nord Stream, and — as of Jan. 1, 2025 — Ukraine’s transit system all halted, TurkStream remains Gazprom’s only operational route for delivering gas to Europe. The pipeline’s annual capacity is 15.75 billion cubic meters.
Earthquake in Afghanistan Leaves More Than 800 Dead
More than 800 people were killed and 2,500 were injured after a 6.0-magnitude...
More than 800 people were killed and 2,500 were injured after a 6.0-magnitude earthquake rocked the mountainous areas of eastern Afghanistan on Sunday night, Afghan officials said on Monday. The death toll would probably rise, they added, as rescue workers scrambled to reach communities stranded in isolated valleys hardly reachable by road.
US rig count down two as prices rise - Oklahoma No Change
The rig count in the Permian Basin was unchanged this week, the latest count Friday...
The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 255 rigs active in the region. A year ago, 305 rigs were active in the Permian. In Oklahoma, the rig count remains unchanged at 43 rigs turning to the right.
Nationally, the oil and gas rig count is down two from last week at 536 rigs. A year ago, 583 rigs were active. The count shows that 412 rigs are drilling for oil, up one from the previous week, and 119 are drilling for natural gas, down three from the previous week. The count also shows five miscellaneous rigs, unchanged from the previous week.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in August of 2020 at 244.
The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $60.49 per barrel, up 35 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $64.01 per barrel, up 35 cents from the previous week.
