December jobs report shows unemployment fell to 4.1%, 256,000 jobs added to finish 2024 on high note
December's jobs report will be the final look at the labor market before the Federal Reserve announces its next interest rate decision on Jan. 31.
Strong economy, safe asset demand boosted US dominance in capital flows, White House says
The strength of the U.S. economic recovery post-COVID and a quest for safe-haven investments helped boost U.S. dominance of global financial flows, while manufacturing incentives led to a surge in foreign direct investment, the White House said on Friday. In its final report before President Joe Biden leaves office, his Council of Economic Advisers said the U.S. had become a magnet for foreign investment given the resilience of the U.S. recovery.
Beer Maker Constellation Brands' Q3 Sales Hit By Subdued Spending; Stock Slides
Constellation Brands Inc (NYSE:STZ) shares are trading lower after the company reported nearly flat third-quarter sales of $2.46 billion, missing the analyst consensus estimate of $2.53 billion. Net sales for the Beer segment increased 3% Y/Y to $2.03 billion, and Wine and Spirits declined 14% to $431.4 million. Shipment volume for Beer climbed 1.6%, while Wine and Spirits declined 16.4%. Gross profit increased 1% to $1.28 billion, and the operating income slid 0.4% to $793 million. The operatin
Can Spot Crypto ETFs Repeat a Stellar Rookie Year?
Crypto ETFs were incredibly successful in their first year but face new competition from Solana, XRP and a range of composite funds.
Surprising Dec US payrolls jump supports longer Fed pause
Nonfarm payrolls increased by 256,000 jobs last month after rising by a downwardly revised 212,000 in November, the Labor Department said on Friday. "At this point in the cycle, earnings will need to improve – and not just within the large tech companies – in order to have markets “grow into” their already high valuations, so we would be cautious in the short term."
Walgreens Boots Alliance Stock Jumps On Better Than Expected Q1 Earnings, Sticks To Annual Profit Forecast
On Friday, Walgreens Boots Alliance Inc (NASDAQ: WBA) reported first-quarter sales of $39.46 billion, up 7.5% year over year (+6.9% on constant currency), beating the consensus of $37.28 billion, reflecting sales growth across all segments. Adjusted operating income was $593 million compared to adjusted operating income of $687 million in the year-ago quarter, reflecting lower U.S. retail sales and lapping prior year sale-leaseback gains, partly offset by cost savings initiatives and growth in t
Walgreens tops Wall Street's expectations as drugstore chain continues turnaround plan
Walgreens booked a better-than-expected fiscal first quarter, but the drugstore chain lost $265 million as it closed U.S. stores and continued work to revive its business. Walgreens said Friday that higher costs from that plan were the main factor behind its quarterly loss. The chain has already shed about a thousand U.S. stores since it grew to nearly 9,500 after buying some Rite Aid locations in 2018.
US Economy Adds 256,000 Payrolls In December, Tight Labor Market Tops Forecasts: Dollar, Treasury Yields Spike
The labor market ended 2024 on a strong note, adding 256,000 jobs in December, exceeding economist forecasts and showcasing once again the resilience of the U.S. economy. Nonfarm payrolls rose by 256,000 last month, up from the downwardly revised 212,000 in November and sharply surpassing economist expectations of 160,000 payrolls as tracked by TradingEconomics. US Labor Market Defies Gravity, Unemployment Rate Falls The December payroll figure released Friday by the Bureau of Labor Statistics s
Centrica Warns UK Gas Stocks ‘Concerningly Low’ After Freeze
(Bloomberg) -- Centrica Plc says that the UK’s gas reserves are at “concerningly low” levels as freezing temperatures grip the country, boosting demand for heating.Most Read from BloombergWhat Robotaxis Brought San FranciscoNYC Condo Owners May Bear Costs of Landmark Green Building LawAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’The owner of British Gas said