The US economy added 187,000 jobs in August, beating expectations and indicating that the labor market is still recovering from the pandemic. However, the unemployment rate rose to 3.8%, the highest level since May, as more people entered the workforce. Job Growth Surpasses Forecasts Economists had predicted a gain of...
Stocks Rise for Fourth Day as GDP Growth Slows Down
Stocks closed higher on Wednesday, marking a fourth-straight day of gains, following revised GDP data that showed slower economic growth than previously estimated. The S&P 500 rose about 0.4%, while the Dow Jones Industrial Average increased by 0.1%, and the Nasdaq Composite saw a 0.5% rise. Revised GDP Data Shows...
Salesforce Leads Earnings Movers as Dow Jones Futures Rise Ahead of Inflation Data
Salesforce.com (CRM), one of the leading business software giants, reported strong earnings for the second quarter and raised its guidance for the full year. The stock jumped in after-hours trading, signaling a possible breakout above its 50-day line. Salesforce was among the top earnings movers on Wednesday, along with other...
US financial regulators approve new rules to prevent bank failures
The US financial regulators have announced new rules that aim to reduce the cost of bank failures and protect depositors’ money. The rules require banks with at least $100 billion in assets to issue long-term debt that can absorb losses if they are at risk of becoming insolvent. The rules...
Nvidia Earnings Beat Expectations, Boosting AI Stocks
Nvidia (NVDA), a leading provider of graphics processing units (GPUs) and artificial intelligence (AI) solutions, reported its fourth-quarter and fiscal 2023 earnings on Wednesday, beating analysts’ estimates and sending its shares higher in after-hours trading. The company also announced a 4-for-1 stock split, subject to shareholder approval, which could make...