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Gold spikes as as 'epic' miss in April jobs report eases worries about a Fed rate hike

1 month ago   |   By Business Insider

Summary List Placement Gold prices jumped Friday after the weak US monthly jobs report tamped down expectations of an interest-rate hike by the Federal Reserve, making the metal more attractive to investors looking to buy.
Gold jumped as much as 1.5% to $1,842.59, the highest price since February 10. The surge was set off after the Labor Department said nonfarm payrolls grew by 266,000 last month, well below the estimated gain of 1 million from a Bloomberg survey of economists. Payrolls increased for a fourth consecutive month but the print was the smallest since September.
The poor jobs...
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Why the horrid April jobs report was actually great news for stocks

Why the horrid April jobs report was actually great news for stocks

1 month ago   |   By Business Insider

Summary List Placement
The April jobs report badly missed estimates on Friday, but the stock market promptly hit record highs anyway.
That's because the market is now in a phase where bad economic news is good news for equities.
The biggest fear for investors is an inflation spike that prompts the Federal Reserve to tightening monetary policy sooner than expected. The weak jobs report soothed those worries.
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Bad economic news is now good news for the stock market, as Friday's horrid April jobs report translated into...
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Tech stocks jump after bad April jobs-report miss dampens inflation fears

Tech stocks jump after bad April jobs-report miss dampens inflation fears

1 month ago   |   By Business Insider

Summary List Placement
Tech stocks jumped on Friday after a weak April jobs report led to a rally in stay-at-home stocks.
April saw an addition of 266,000 jobs, well below the estimates forecast of 1 million.
The April jobs report represented the worst miss since 1998.
Technology stocks soared on Friday after a weak April jobs report led to investors bidding up popular stay-at-home stocks that have performed well during the pandemic.
April saw an addition of 266,000 jobs, well below the estimated forecast of 1 million. Unemployment rose to 6.1% from 6.0%. Economists had expected the rate...
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Mayor Lightfoot proposes packaged liquor sales curfew beginning at midnight

Mayor Lightfoot proposes packaged liquor sales curfew beginning at midnight

CHICAGO - As packaged liquor sales are halted overnight amid the pandemic, Mayor Lightfoot has proposed a permanent packaged liquor sales curfew beginning at midnight. Mayor... Read more ...

The Senate voted unanimously to make Juneteenth a national holiday...

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The money is the largest gift in the university's history. Read more ...

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2 Indiana law firms have sued the state for ending unemployment benefits early

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Summary List Placement Indiana is one of at least 25 states cutting off federal unemployment benefits ahead of their expiration in September, with the additional $300 in weekly... Read more ...

Hedge funds expect to hold $310 billion in cryptocurrencies within 5 years...

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Summary List Placement Hedge fund bosses are planning to ramp up their holdings of cryptocurrencies, predicting that an average of 7.2% of their assets under management will be... Read more ...

Billionaire investor Paul Tudor Jones praises bitcoin, warns of rising...

Billionaire investor Paul Tudor Jones praises bitcoin, warns of rising inflation, and flags the 'Buffett indicator' in a new interview. Here are the 10 best quotes

Summary List Placement Billionaire investor Paul Tudor Jones trumpeted bitcoin, expressed concern about the "Buffett indicator" hitting record highs, and called on the Federal... Read more ...

Global shares trade near record highs ahead of the Fed, inflation concerns...

Global shares trade near record highs ahead of the Fed, inflation concerns ease as red-hot commodities cool

Summary List Placement Global shares and futures traded near record highs on Tuesday ahead of the outcome of the Federal Reserve's upcoming policy meeting the next day. S&P 500... Read more ...