Stocks rose sharply and 30-year fixed mortgage rates dropped the most since 2008.
Rents are falling, jobless claims rose, commodity prices continue to drop. All eyes are on the U.S. employment rate tomorrow -- maybe bad news will be good news... and good news will be bad news.
• The number of Americans filing new claims for unemployment benefits rose above estimates.
• US-based companies announced plans to cut the most jobs from their since February last year
• Despite tight supplies, prices from fuel to wheat are slumping.
Headlines of the Day
Stocks Rally Before Friday's Jobs Report
The stock market continued its recent rally Thursday, though the focus for investors now is inflation—and Friday’s job market data.
Commodities Have Lost 20% Since June’s Peak Amid Recession Fears
Despite tight supplies, prices from fuel to wheat are slumping. The pullback could bring relief to consumers hit by inflation.
Roaring US Rental Market Shows Early Signs of Slowing Down
One-bedroom rents fell month-over-month in formerly hot cities like Miami, San Diego, Fort Lauderdale and Nashville.
Fed Sees ‘More Restrictive’ Rates Possible If Inflation Persists
Raising rates could slow GDP growth over time, minutes show. Return to 2% inflation ‘critical’ for employment mandate.
We're Starting to See Clear Signs of Tech Troubles
A small amount of earnings data from Samsung is the latest hint of what's ahead for chip and electronics makers.
Economic Data Results for 7-7-2022
United States Challenger Job Cuts
US-based companies announced plans to cut 32,517 jobs from their payrolls in June of 2022, the highest reading since February last year, and a 58.8% increase from the 20,476 cuts announced in the same month last year.
United States Initial Jobless Claims
The number of Americans filing new claims for unemployment benefits rose by 4K to 235K in the week that ended July 2nd, compared to market expectations of 230K, suggesting labor market conditions could be moderating.
Economic Data Due Tomorrow on 7-8-2022
Non Farm Payrolls JUN
Unemployment Rate JUN
Average Hourly Earnings MoM JUN
Nonfarm Payrolls Private JUN
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