September jobs figures fuel gains in US stocks
US markets closed higher on Friday after weak US jobs data lowered the odds of Federal Reserve rate hikes. Major US indices spent most of the day solidly in positive territory following the lacklustre hiring data for September. Equities were also supported by a pullback in oil prices after G7 countries agreed to an emergency release of fuel reserves in light of the US-Iran war. Data showed that employment in the United States grew by 29,000 jobs in September, missing analysts' expectations of around 90,000, with the unemployment rate rising slightly to 4.2 percent. The jobs report "is lousy for the economy, but could keep the Fed from making trouble, and so the market was pretty good with it," said Chris Low of FHN Financial. "Today's report may revive the 'bad news is good news' narrative, but hoping for a weaker labor market just to secure easier financial conditions is a poor tradeoff," said eToro analyst Bret Kenwell. Following a positive day on European bourses, the S&P 500 finished up 0.7 percent, with 10 of 11 sectors in positive territory. The S&P 500 gained 56.27 points, or 0.7 percent, to 7,722.72, the Nasdaq Composite gained 319.27 points, or 1.2 percent, to 27,190.86, and the Dow rose...
Read full articleMore News
Clara Wu Tsai, the Billionaire Who Wants Brooklyn to Win
Clara Wu Tsai, a co-owner of the Liberty, is hoping the W.N.B.A. team pulls through tonight. She also has ambitions for the borough beyond more championships.
Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections
The $500 checks are accompanied by a letter signed by the president that criticizes the Biden administration for overcharging Americans for health insurance.
Burnham promises to curb non-compete rules in job contracts
The prime minister says restrictions on what workers can do after leaving roles have "gone too far".
Whistle-Blower Says I.R.S. Leaked His Tax Records in Retaliation
Brian J. Visalli, a veteran investigator of tax fraud, said in a lawsuit that the agency had sent his personal and tax information to federal prosecutors.
Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned
The Court of Appeal quashes the conviction of Christian Bittar, a former Deutsche Bank trader jailed in 2018.
Highest Mortgage Rates in 3 Years Chills the Housing Market
The average 30-year fixed-rate mortgage rose to 7.4 percent, putting more pressure on Americans struggling to afford to buy a home.
Airlines Are Upgrading Wi-Fi. Not All Are Using Elon Musk’s Service.
Mr. Musk, whose company SpaceX owns Starlink, has attacked the top executive of Delta Air Lines for not selecting the internet provider.
Anthropic bans users from being 'cruel' to its AI systems
The firm said users can no longer engage in "sustained and needless" abusive behaviour towards the tech.
The Fallout From OpenAI’s Revenue Surprise
News that the artificial intelligence giant’s sales weren’t growing as fast as investors had expected added to concerns about the A.I. boom.
Why are there so many sports subscriptions?
Pete Oliver of DAZN explains why the is a growing number of sports subscriptions and why they are getting more expensive.
I've been with my boyfriend for two years and don't know his salary
Talking about salary, spending habits and debt can be some of dating's trickier conversations.
Fired OpenAI researchers say they were let go for 'prioritising safety'
The AI firm instead claims the researchers were fired for mishandling sensitive information.