Cathie Wood said artificial intelligence and other breakthrough technologies will spark a massive productivity boom that could push U.S. inflation to zero while reshaping economic growth.
U.S. Treasury Secretary Scott Bessent called for sweeping reforms at the Federal Reserve, accusing it of fueling inflation and inequality, as President Donald Trump weighs potential successors to Fed Chair Jerome Powell.
Initially, stocks rallied on the expectations of a rate cut at the next Fed meeting later this month. But then the wiseguys thought about it and decided to sell, sell, sell.
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A number of stocks fell in the afternoon session after the release of the August jobs report, which showed the U.S. economy added far fewer jobs than anticipated, fueling concerns about a broader economic slowdown.
A number of stocks fell in the afternoon session after a surprisingly weak August jobs report fueled concerns of a cooling economy but also raised expectations for Federal Reserve interest rate cuts.
A number of stocks fell in the afternoon session after the release of a much weaker-than-expected August jobs report, sparking fears of a potential recession. The U.S. Labor Department reported that employers added only 22,000 nonfarm payrolls in August, significantly missing economists' expectations of 75,000.
Shares of industrial fluid and energy systems manufacturer Graham Corporation (NYSE: GHM)
fell 3% in the afternoon session after weak U.S. jobs data revealed a fourth consecutive month of payroll declines in the factory sector.
A number of stocks fell in the afternoon session after the release of a much weaker-than-expected U.S. jobs report, which overshadowed hopes for a Federal Reserve interest rate cut by fueling concerns about the health of the economy.
A number of stocks fell in the afternoon session after a surprisingly weak August jobs report fueled concerns of a cooling economy but also raised expectations for Federal Reserve interest rate cuts.
Shares of residential solar energy company Sunrun (NASDAQ:RUN) jumped 10.2% in the afternoon session after the stock rebounded following several positive analyst actions and favorable sector-wide news. RBC Capital upgraded the stock to "Outperform" from "Sector Perform," and Wells Fargo raised its price target, with both citing increased clarity on long-term opportunities following recent U.S. Treasury guidance. GLJ Research also upgraded its rating on the company. This guidance appears to be a key factor, with analysts noting it's favorable for the residential solar sector. Adding to the positive sentiment for renewable energy, India announced it was more than halving its goods and services tax on related equipment, including solar panels, from 12% to 5%, shoring up the industry.
Shares of investment banking firm Jefferies Financial Group (NYSE:JEF) fell 2% in the afternoon session after a surprisingly weak August jobs report sparked fears of an economic slowdown. The U.S. economy added only 22,000 jobs, significantly missing the 75,000 expected by analysts. While the disappointing data initially fueled hopes for a Federal Reserve interest rate cut, investor sentiment quickly soured. Concerns shifted towards the possibility of a recession, as the sluggish hiring and a rise in the unemployment rate to 4.3%—the highest since 2021—painted a grim picture of the labor market. This negative outlook overshadowed the potential for monetary easing, leading to a widespread sell-off across Wall Street.
Shares of financial services company Ameriprise Financial (NYSE:AMP) fell 4.3% in the afternoon session after a much weaker-than-expected U.S. jobs report sparked concerns about an economic slowdown.
Shares of online legal service provider LegalZoom (NASDAQ:LZ) fell 4.1% in the afternoon session after the U.S. Labor Department's August jobs report came in much weaker than expected, sparking fears of an economic slowdown. U.S. employers added only 22,000 jobs last month, significantly missing the 75,000 that economists had forecast. The disappointing data led to a widespread sell-off on Wall Street, with major indices like the S&P 500 and Dow Jones Industrial Average trading lower. While a cooling labor market could prompt the Federal Reserve to cut interest rates, the scale of the miss has investors worried that the economy could be heading for a recession. This negative sentiment is weighing on the broader market, impacting individual stocks like LegalZoom.
Shares of financial services firm Stifel Financial (NYSE:SF) fell 2.6% in the afternoon session after a weaker-than-expected U.S. jobs report sparked broader market concerns about a potential economic downturn. The U.S. Labor Department's report indicated that employers hired fewer workers in August than economists had forecast. Furthermore, previous hiring estimates for June and July were revised downward by a collective 21,000 jobs. This disappointing data follows other recent lackluster economic reports, leading traders to bet on a near-100% probability of a Federal Reserve interest rate cut at its next meeting. The broader market slipped as investors grappled with whether the job market has slowed just enough to warrant a rate cut or so much that it signals an impending economic downturn.
Shares of financial services firm Raymond James Financial (NYSE:RJF) fell 3.3% in the afternoon session after the broader market slipped following the release of a jobs report that raised concerns about the health of the U.S. economy. The U.S. Bureau of Labor Statistics reported that employers added only 22,000 jobs in the last month, significantly missing the 75,000 that economists had anticipated. Additionally, the unemployment rate increased to 4.3%, its highest level since 2021. While the weaker-than-expected data strengthens the case for the Federal Reserve to cut interest rates, it also fueled investor fears of an economic slowdown. The negative sentiment impacted the wider market, with the S&P 500 and Dow Jones Industrial Average also trading down during the session, indicating a broad-based sell-off rather than company-specific news.
A number of stocks fell in the afternoon session after a weaker-than-expected August jobs report heightened concerns about the health of the U.S. economy.
A number of stocks fell in the afternoon session after the latest jobs report showed nonfarm payrolls rose by only 22,000, significantly below the forecasted 75,000.
Shares of pop culture collectibles manufacturer Funko (NASDAQ:FNKO)
fell 3.9% in the afternoon session after a broader market downturn triggered by a surprisingly weak August jobs report. The U.S. stock market saw sharp declines as the jobs data reinforced expectations for a Federal Reserve rate cut. While stocks initially rose on the prospect of lower borrowing costs, they quickly reversed as investors weighed the implications of an economic slowdown. Funko, as a consumer discretionary company, was affected by this negative sentiment, which saw numerous stocks in the sector decline. The report's indication of cautious hiring trends raises concerns about future consumer spending, which could directly impact companies that rely on non-essential purchases.
Shares of clothing and footwear retailer Boot Barn (NYSE:BOOT)
fell 4.7% in the afternoon session after a disappointing U.S. nonfarm payrolls report raised concerns about the health of the economy and consumer spending. The report showed a marginal gain of just 22,000 jobs, significantly missing the market estimate of 75,000. Furthermore, the unemployment rate increased to 4.3%, its highest level since December 2021. For a retail company like Boot Barn, which depends on strong consumer demand, signs of a cooling labor market can be concerning for investors. The weak employment data has heightened speculation that the Federal Reserve might consider a quarter-point interest rate cut at its next meeting to support the economy.
