General News

Midday movers: Apple, Amgen and Block rise; Cloudflare and Expedia fall May 3, 2024 11:38AM (Updated - May 3, 2024 11:38 AM EDT)

Investing.com -- Main U.S. indexes rose Friday, as generally positive earnings helped boost overall sentiment, while a soft monthly jobs report fueled hopes the Fed would begin cutting rates in September.

Here are some of the biggest U.S. stock movers today:

Apple (NASDAQ: AAPL) stock rose 7% after the iPhone maker reported a drop in revenue in the opening three months of the year, but still topped analysts' downbeat projections,... (continue reading...)

Weaker US jobs data soothes Fed worries of renewed overheating May 3, 2024 10:50AM

By Howard Schneider and Lindsay Dunsmuir

(Reuters) - Federal Reserve officials, buffeted by concerns the economy might again overheat, got relief on Friday when jobs data for April showed a marked cooling in wage growth and a pace of hiring in line with levels seen before the COVID-19 pandemic.

The gain of 175,000 payroll jobs last month was the lowest since October of 2023, while the 3.9% annual change in average hourly earnings was the... (continue reading...)

US equity funds witness outflows for fifth week in a row May 3, 2024 09:25AM

(Reuters) - U.S. investors were net sellers of equity funds for a fifth successive week in the seven days to May 1, exercising caution ahead of the Federal Reserve's policy decision and scaling back expectations for interest rate cuts that were prevalent at the start of the year.

According to LSEG data, investors shed a net $5.48 billion worth of U.S. equity funds, extending the weekly selling trend into a fifth consecutive week.

Fed... (continue reading...)

April US jobs report shows looser labor market, good news for Fed May 3, 2024 09:03AM

(Reuters) -U.S. job growth slowed more than expected in April and annual wage gains cooled, signs of a looser labor market which are good news for markets and the Federal Reserve that will likely require more such signals before pivoting from a higher for longer policy.

Nonfarm payrolls increased by 175,000 jobs last month, the Labor Department said in its employment report on Friday. March was revised up to show payrolls rising by 315,000 jobs instead of... (continue reading...)

U.S. adds fewer jobs than anticipated in April May 3, 2024 08:41AM

Investing.com -- The U.S. economy added fewer jobs than anticipated in April, but the overall employment picture remained relatively solid, potentially impacting when markets expect the Federal Reserve to roll out possible interest rate reductions this year.

The Labor Department's closely-monitored labor market report showed that nonfarm payrolls came in at 175,000 last month, down from an upwardly revised total of 315,000 in March. Economists had predicted a reading of... (continue reading...)