The inflation rate in May reached its lowest level in over two years, according to a report from the Labor Department. This development is expected to relieve pressure on the Federal Reserve to continue increasing interest rates. The consumer price index (CPI), which measures changes in goods and services, only rose by 0.1% for the …
The latest report from the Labor Department shows that the US economy is still creating new jobs at an impressive rate, despite several challenges. In May, nonfarm payrolls increased by 339,000, beating the Dow Jones estimate of 190,000 and marking the 29th consecutive month of positive job growth. The jobless rate rose to 3.7%, although …
Chinese electric car manufacturer, Nio, announced on Monday that it will be reducing the prices of its vehicles by $4,200 and will no longer offer free battery swaps for new buyers. This decision contradicts CEO William Li’s previous statement in April, where he claimed that the company would not engage in a “price war.” The …
Investment opportunity alert: Shares of GE Healthcare (GEHC) are currently experiencing a slide, providing a chance for savvy investors to take advantage of an attractive valuation in the medical-technology industry. The decline is due to its largest shareholder, General Electric (GE), monetizing its ownership stake in GEHC to pay off its own debt. However, this …
Before the market opens, let’s take a look at the companies that are making headlines today. Tesla and General Motors’ stocks are both on the rise in premarket trading, with gains of 5.7% and 5%, respectively. The reason for this increase is that General Motors announced its plan to use Tesla’s electric vehicle charging network …
In Alexandria, Virginia, a waiter bustles around a restaurant as the U.S. payrolls report for May outperforms expectations. The strong jobs gains in professional and business services, along with an increase in government employment, largely contributed to this success. According to the Bureau of Labor Statistics, job creation in May was led by 64,000 new …
Bob Michele, Managing Director and Chief Investment Officer at JPMorgan’s Global Fixed Income, Currency & Commodities (GFICC) group, has warned that the stock market’s current resurgence after interest rate hikes and bank failures may not be a good sign, comparing it to a deceptive lull during the 2008 financial crisis. Michele noted that during both …
Amsterdam hosted the annual Money2020 conference, attracting executives from fintech companies worldwide. While last year’s event buzzed with talk of embedded finance, open banking, and banking-as-a-service, this year, the narrative has changed little amid a slump in technology valuations and limited consumer spending. Investors remain keen on firms offering services to enterprises rather than consumers, …