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What's Behind the Mismatch in Hiring and Job Openings

  • What's Behind the Mismatch in Hiring and Job Openings What's Behind the Mismatch in Hiring and Job Openings 3:12
    WSJ Opinion: Welcome to the Equity War WSJ Opinion: Welcome to the Equity War 4:56
    WSJ Opinion: Teachers Unions Push Toward Critical Race Theory WSJ Opinion: Teachers Unions Push Toward Critical Race Theory 7:07
    The Reopening Rally The Reopening Rally 9:20
12:07 p.m. July 29, 2021 - By Mark Decambre
Dow, S&P 500 snap 2-session skid as stock-market investors shake off signal that growth is waning; Robinhood IPO sinksU.S. stock indexes ended solidly higher Thursday, with the Dow and the S&P 500 index finishing higher for the first time in three sessions, as investors weighed a weaker-than-expected updated report on U.S. economic growth in the second quarter and a woeful public market debut for trading platform Robinhood Markets Inc. . The Dow Jones Industrial Average closed up by about 154 points, or 0.4%, at 35,085; the S&P 500 index rose 0.4% to 4,420. Both indexes touched all-time intraday trading highs before paring those gains somewhat. The Commerce Department said U.S. gross domestic product grew at an annualized pace of 6.5% in the second quarter, falling short of the average forecast of 9.1% produced by a survey of economists by The Wall Street Journal. Separately, data from the Labor Department showed first-time applications for unemployment benefits fell 24,000 last week to 400,000. Meanwhile, Robinhood closed down 8.4% in its first day as a publicly traded entity on the Nasdaq Inc. . The trading platform opened at $38 Thursday afternoon. In other corporate news, Trevor Milton, the founder of Nikola Corp. , was indicted Thursday on securities-fraud charges for allegedly lying to investors about its business making commercial trucks powered by alternative fuel. Meanwhile, the 10-year Treasury note edged slightly higher at 1.269%, up 1 basis point, after the Federal Reserve kept rates unchanged at a range between 0% and 0.25% on Wednesday and signaled that it may be leaning toward ending its accommodative measures.
10:10 a.m. July 29, 2021 - By Tomi Kilgore
Entergy Texas looks to create 7,000 jobs by building natural gas, hydrogen fueled plantEntergy Corp. subsidiary Entergy Texas Inc. said Thursday it has started the process to seek approval to build the Orange County Advanced Power Station, which the electric utility expects will provide more than 7,000 jobs, create nearly $1.8 billion in economic activity and provide more than $1.5 billion in net benefits to customers. If approved, the 1,215-megawatt plant will be located near Bridge City, Texas, will be fueled using a combination of natural gas and hydrogen and be capable of powering more than 230,000 homes. Construction is expected to begin in the second quarter of 2023. Once the plant is operational, which it is expected to be by the summer of 2026, it is expected to provide about 27 permanent jobs. "Southeast Texas is well-positioned to play a key role in the transition to increased use of hydrogen in electric generation," said Entergy Texas Chief Executive Sallie Rainer. "Our region is home to hydrogen producers, pipelines, storage and industrial users." Entergy's stock, which was little changed in afternoon trading, has slipped 3.9% over the past three months, while the SPDR Utilities Select Sector ETF has edged up 0.4% and the S&P 500 has gained 5.1%.
5:37 a.m. July 29, 2021 - By Mark Decambre
Dow rises around 200 points, touches intraday record, as stock-market investors parse GDP, jobless claims reports U.S. stock benchmarks mostly rose Thursday morning, holding gains after a weaker-than-expected reading on second-quarter gross domestic product and other economic data, as investors await the trading debut of online brokerage Robinhood Markets . The Dow Jones Industrial Average rose 188 points, or 0.5%, at 35,019, touching an intraday record high at 35,155.18; the S&P 500 index gained 19 points, or 0.4%, at 4,419, while the Nasdaq Composite Index traded flat to slightly higher at around 14,789. Brokerage firm Robinhood makes its long-awaited debut after pricing its initial public offering at the low end of expectations. In economic reports, the Commerce Department said U.S. gross domestic product grew at an annualized pace of 6.5% in the second quarter, coming in below forecasts for an expansion of 8.5%. Separately, data from the Labor Department showed first-time applications for unemployment benefits fell 24,000 last week to 400,000. The economic data come after the Federal Reserve held its policy in check and signalled that it hopes to scale back its crisis-era policies when the labor market and economy shows sustained improvement from COVID-19. Chairman Jerome Powell said that the economic recovery may not be there yet, however.
10:08 a.m. July 28, 2021 - By Quentin Fottrell
No, you’re not crazy. Yes, the CDC’s mask guidelines are confusing — should you wear a mask indoors even if you’re vaccinated? The one consistent part of the pandemic is that everything — mask policy, included — is subject to changeThe one consistent part of the pandemic is that everything — mask policy, included — is subject to change.
12:04 p.m. July 22, 2021 - By William Watts
Stocks extend winning streak to 3 days, shaking off weak labor dataU.S. stocks finished slightly higher Thursday, with major indexes rising for a third straight session as investors looked past data showing a rise in first-time claims for unemployment benefits last week. The Dow Jones Industrial Average rose around 25 points, or 0.1%, to close near 34,823, according to preliminary figures. The S&P 500 gained around 9 points, or 0.2%, to finish near 4,368, while the Nasdaq Composite advanced around 53 points, or 0.4%, ending near 14,685.
4:11 a.m. July 21, 2021 - By Ciara Linnane
AMC CEO Adam Aron named chairman of the cinema operator's boardAMC Entertainment Holdings Inc. said Wednesday its board has named Chief Executive Adam Aron as chairman of the board. The board of the world's biggest cinema operator named Ambassador Philip Lader at its lead director. Aron has been CEO and president of AMC since 2016, overseeing the company through the difficult pandemic year. Lader has been an independent director since July of 2019, after serving as U.S. ambassador in London and was administrator of the U.S. Small Business Administration during the presidency of Bill Clinton. As expected, Lin Zhang and Mao Jun have resigned from the board. The pair are senior executives at China's Wanda Group, which recently sold most of the shares n AMC that it held between 2012 and 2020. AMC shares were down 2.9% premarket, but have gained 341% in the past three months, after the stock became one of the meme stocks, beloved by a group of traders that gather on the Reddit forum WallStreetBets.
3:45 a.m. July 20, 2021 - By Tomi Kilgore
ManpowerGroup swings to profit that beats expectations amid strong rebound in workforce demandShares of ManpowerGroup rose 1.6% in premarket trading Tuesday, after the provider of workforce services swung to a second-quarter profit that beat expectations, citing a strong rebound in demand for workforce solutions, and provided an upbeat outlook for the current quarter. Net income totaled $111.6 million, or $2.02 a share, after a loss of $64.4 million, or $1.11 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.42. Revenue grew 41.0% to $5.28 billion, beating the FactSet consensus of $5.15 billion. For the third quarter, the company expects EPS of between $1.86 and $1.94, above the FactSet consensus of $1.74. "Our second quarter results reflect an improving global economic environment and increased demand for our services across our key markets and brands," said Chief Executive Jonas Prising. "As restrictions continued to ease worldwide, we saw the benefit of our diversified portfolio of services and workforce solutions." The stock has run up 23.5% year to date through Monday, while the S&P 500 has gained 13.4%.
6:06 a.m. July 16, 2021 - By Jeffry Bartash
U.S. business inventories climb 0.5% in MayU.S. business inventories rose 0.5% in May, the government said Friday. Economists polled by The Wall Street Journal had forecast a 0.5% increase. Sales fell 0.3% in the month. An increase in inventories adds to gross domestic product and is usually a sign of an expanding economy. The ratio of inventories to sales, meanwhile, rose to 1.26 from 1.25. That's how many months it would take to sell all the inventory on hand. Inventories soared early in the pandemic as sales slumped, but now companies can't keep enough inventory in stock. Sales are strong, but shortages of supplies and labor are holding back production.
9:48 a.m. July 15, 2021 - By Tomi Kilgore
Teleflex stock tumbles toward 8-month low, paces S&P 500 declinersShares of Teleflex Inc. tumbled 10.9% toward an 8-month low in afternoon trading Thursday, enough to pace the S&P 500 decliners, and to put them on track for the biggest one-day percentage selloff since March 2020. Teleflex is a medical technology company, with products in the fields of urology, cardiac and respiratory care and emergency medicine. The company's UroLift System, which the company has recently said was one of its "key growth drivers," is a minimally invasive treatment for lower urinary tract symptoms resulting from benign prostatic hyperplasia. Chief Financial Officer Thomas Powell had said at UBS Global Healthcare Conference in May that he expected UroLift to show continued recovery after the COVID-19 pandemic weighed heavily on non-COVID-related procedures. Meanwhile, the Centers for Medicare & Medicaid Services' new anticipates 1% decline in clinical labor pricing for urology. The company did not immediately respond to a request for comment. The stock has now lost 9.7% year to date, while the SPDR Health Care Select Sector ETF has climbed 13.1% and the S&P 500 has advanced 15.7%.
5:35 a.m. July 15, 2021 - By Mark Decambre
Dow under pressure early Thursday as stock-market investors await final day of Powell testimonyU.S. stock indexes traded lower Thursday morning ahead of Federal Reserve Chairman Jerome Powell's second, and final, day of congressional testimony on the outlook for the economy and monetary policy. His meeting with a Senate committee was set to kick off at 9:30 a.m. ET. The Dow Jones Industrial Average was down 0.3% at 34,841, while the S&P 500 index was down 0.3% at 4,359, while the Nasdaq Composite Index was down 0.4% at around 14,576. Powell told lawmakers on Wednesday that the central bank wouldn't be in a hurry to start paring monthly asset purchases and that the economy "is still a ways off." Meanwhile, in economic data, first-time claims for U.S. unemployment benefits fell to 360,000 last week, the Labor Department reported Thursday, down from 386,000 the previous week. The Philadelphia Fed's factory index fell to 21.9 in June from 30.7 in prior month. Separately, the New York Fed's Empire State Index jumped 25.6 points to a record-high reading of 43 in July. Economists had expected a reading of 17.3, according to a survey by The Wall Street Journal. Any reading above zero for either index indicates improving conditions. In corporate news, shares of Netflix Inc. was in focus after the entertainment company announced its first major videogame hire, potentially signaling a move beyond its streaming-video roots. Shares of GameStop Corp. , meanwhile, were under pressure because of the prospect of competition from Netflix.
12:10 p.m. July 14, 2021 - By Mark Decambre
Dow, S&P 500 end higher and Nasdaq books 2nd straight drop, but Russell 2000 gets whacked amid Powell hearingThe Dow Jones Industrial Average and the S&P 500 logged modest gains Wednesday, while the Nasdaq Composite rang up its second consecutive loss, after Federal Reserve Chairman Jerome Powell told a House Financial Services Committee that inflation will moderate and that he believes that policy makers can combat rising pricing pressures if they run even hotter. The Dow closed 0.1% higher at around 34,933, the S&P 500 index advanced 0.1% at about 4,374, pulling back after hitting an intraday high Wednesday at 4,393.68; the Nasdaq Composite Index declined 0.2% at around 14,645, marking its second decline in a row. The small-capitalization Russell 2000 index suffered another sharp drop, sinking more than 3% over the past two sessions. In corporate news, shares of Bank of America Corp. dropped after the moneycenter bank reported a second-quarter profit that rose above expectations but revenue fell short, weighed by misses in the consumer banking and global markets businesses. BlackRock Inc. shares fell after the money manager reported second-quarter profit and revenue that rose above expectations, as assets under management increased 30% and net inflows topped $80 billion. Meanwhile, the Fed's latest deep dive on the economy confirmed the obvious: The U.S. is growing faster, but the recovery is being restrained by widespread shortages of labor and supplies.The findings from the central bank's so-called Beige Book, which largely mirrored the more timely remarks by Powell during his appearance in Congress on Wednesday. The moves in stocks also came as the 10-year benchmark yield skidded lower and prices for government debt rose. The 10-year note was at around 1.34% from aroun 1.41% on Tuesday. Treasury yields fall as prices climb.
5:38 a.m. July 13, 2021 - By Mark Decambre
Dow edges back from record high as stock-market investors parse biggest CPI increase since 2008 U.S. stock indexes on Tuesday morning edged slightly lower from Monday's record closes, as investors assessed a hotter-than-expected consumer inflation report for June, which suggests to some that the Federal Reserve may neeed to consider removing some of its monetary policy measures to avoid an overheated post-COVID economy. The consumer price index leaped 0.9% last month, the government said Tuesday. The last time prices rose that fast was in 2008. The cost of used cars accounted for more than one-third of the increase. The Dow Jones Industrial Average fell less than 0.1% at 34,973, the S&P 500 index was down 0.1%, while the Nasdaq Composite Index retreated less than 0.1% at 14,725. The Labor Department reported that the consumer-price index leapt 0.9% last month. The cost of used cars accounted for more than one-third of the increase. Economists polled by Dow Jones had forecast a 0.5% increase. The rate of inflation in the 12 months ended in June climbed to 5.4% from 5% in the prior month. The inflation data come amid the unofficial start of second-quarter earnings. In corporate news, shares of J.P. Morgan Chase & Co. fell Tuesday, after the banking giant reported second-quarter a profit that more than doubled and revenue that beat expectations, even as markets revenue fell 30%, while net interest income fell below forecasts. Meanwhile, shares of PepsiCo Inc. rallied after the beverage and snacks company reported second-quarter profit and revenue that rose well above expectations and provided an upbeat full-year outlook.
3:52 a.m. July 12, 2021 - By Tomi Kilgore
Virgin Galactic stock shoots higher after successful flight to suborbital spaceShares of Virgin Galactic Holdings Inc. shot up 6.0% in premarket trading Monday, a day after Founder Richard Branson and five crewmates successfully flew rocket-powered spaceplane. In a live-streamed flight on Sunday, the Unity crew before returning to earth. "Space is for all humanity, which is why we're giving YOU the chance to win 2 seats on one of the first @virgingalactic flights to space now!", . Truist analyst Michael Ciarmoli reiterated his buy rating and $50 stock price target, saying the successful completion of the Unity flight was a "significant milestone" for the company. "Near-term, we expect that publicity around the commencement of SPCE's commercial space tourism operations could also benefit from sweepstakes announced on Sunday, offering a chance to win two tickets on one of the company's earliest flights open to customers," Ciarmoli wrote in a note to clients. Virgin Galactic's stock has soared 107.3% year to date through Friday, while the S&P 500 has gained 16.3%.
12:25 p.m. July 10, 2021 - By Catey Hill
I’m 66, get $26,300 a year in Social Security and want to live in a small city by the ocean — so where should I retire? Looking for ideas on the best place for you to retire? Email HelpMeRetire@marketwatch.com A retirement near the beach can be had for less than you might think.
4:37 a.m. July 8, 2021 - By Tonya Garcia
Papa John's to offer hiring and referral bonusesPapa John's International Inc. said Thursday that it will offer $50 referral bonuses to team members at company-owned locations who bring in a new hire, and a $50 bonus to the new team member that's brought on board. In addition, existing team members at company-owned locations will be eligible for up to $400 in "appreciation" bonuses through the end of the year. Papa John's also plans to make certain full-time staff investments in "high volume" company-owned stores. The pizza delivery company expects to invest $2.5 million in these new programs through the end of 2021. The company says similar programs are offered through franchisees as well. Papa John's has about 14,000 front-line workers at its company-owned restaurants and through its supply chain. These programs come during a . Papa John's stock has gained 23.8% for the year to date while the S&P 500 index has gained 16% for the period.
4:21 a.m. July 8, 2021 - By Tonya Garcia
Chipotle to accept TikTok resumes to recruit Gen Z workersChipotle Mexican Grill Inc. said Thursday that it will accept job applications via TikTok through July 31. Applicants can submit videos of job-related content to the fast-casual chain through the TikTok app or via a TikTok resumes site. Chipotle says it's using the new platform to reach prospective Gen Z hires at a time when the . "Given the current hiring climate and our strong growth trajectory, it's essential to find new platforms to directly engage in meaningful career conversations with Gen Z," said Marissa Andrada, chief diversity, inclusion and people officer at Chipotle. On July 15, Chipotle will host a "Coast to Coast Career Day" with interviews taking place throughout the day. Chipotle offers starting wages between $11 and $18 per hour as well as benefits and the opportunity to rise to positions that pay . Chipotle says it has hired more than 82,000 crew members and had more than 4,200 promotions since the beginning of the year. Chipotle stock has gained 14.2% for the year to date while the S&P 500 index is up 16% for the period.
7:20 a.m. July 3, 2021 - By Kerry Hannon
Are you facing early retirement? Here’s how to prepare Financial advisers offer suggestions on this tricky decisionMany older workers who’ve lost jobs or been offered early retirement severance packages are choosing to pack it in.
5:12 a.m. July 3, 2021 - By Silvia Ascarelli
I’ll retire with a military pension and want to move to a bicycle-friendly, beer-loving place — so where should I go? Looking for ideas on the best place for you to retire? Email HelpMeRetire@marketwatch.comI have a nest egg of $1 million and will also have a monthly military pension of approximately $6,000, and Social Security on top of that.
9:43 a.m. July 2, 2021 - By Mark Decambre
Gold ends at highest level in over a week with 3rd straight gainGold futures on Friday closed higher for a third straight session, which helped contracts for the precious metal to regiser a modest weekly advance, amid a retreat in benchmark Treasury yields, which can compete against precious metals for safe-haven demand, and a steadying U.S. dollar, which has slipped back since touching a three-month high a day ago. August gold settled up $6.50, or 0.4%, to $1,783.30 an ounce, representing the highest finish since June 23, FactSet data show. The third straight gain for bullion also marked its longest string of gains since a similar period ended May 26. Trading in precious metals followed a closely watched report on June employment from the Labor Department, which came in better than the 706,000 job that were estimated by economists polled by Dow Jones and MarketWatch. The unemployment rate, meanwhile, rose to 5.9%, compared with 5.8% last month and an expectation for 5.6%.
5:37 a.m. July 2, 2021 - By William Watts
S&P 500, Nasdaq hit all-time highs after strong June jobs reportStocks opened slightly higher Friday after a stronger-than-expected June jobs report, with the S&P 500 and Nasdaq Composite touching all-time intraday highs. The Dow Jones Industrial Average rose 69 points, or 0.2%, to 34,703. The S&P 500 was up 0.3% at 4,330.69, while the Nasdaq Composite gained 0.5% to 14,600.25. The Labor Department on Friday said the U.S. economy created 850,000 jobs in June, topping economist expectations for a reading closer to 700,000; the unemployment rate ticked higher to 5.9%.
12:12 p.m. July 1, 2021 - By Mark Decambre
Dow logs 4th-highest close in its history as S&P 500 books 35th record of year to start 2021's second halfU.S. stocks closed at or near record territory Thursday, with the S&P 500 marking its 35th closing high of 2021, ahead of an important monthly labor-market report on Friday and a long holiday weekend, with markets closed in observance of the Fourth of July holiday on Monday. Markets scored a lift on the back of a decline in jobless claims and a continuing expansion in manufacturing activity. first-time jobless claims fell to 364,000 last week from 411,000 the previous week, the Labor Department said. Economists had forecast a decline to 380,000. The data follows a better-than-expected update on private-sector employment from ADP on Wednesday. Meanwhile, the Institute for Supply Management's manufacturing index slipped to 60.6% in June from 61.2% in May, coming in slightly below the Wall Street forecast. A reading of more than 50 indicates an expansion in activity. The Dow Jones Industrial Average finished up over 130 points, or 0.4%, to end at around 34,633, marking its fourth-highest close in history as it inches toward eclipsing its May 7 all-time closing high at 34,777.76. The Nasdaq Composite Index closed up 0.1% at 14,522, narrowly missing its record close at 14,528.33; while the S&P 500 index closed up 0.5% to 4,319, powered by gains in energy , health care and communication services . Shares of Krispy Kreme , which made its public debut, ended the session up nearly 24%. Meanwhile, Robinhood Markets made its plans for a public offering public. It will list on Nasdaq Inc. under the ticker symbol "HOOD."
5:36 a.m. July 1, 2021 - By Mark Decambre
S&P 500 carves out record high and Dow climbs to start 2021's second half after jobless claims hit fresh pandemic lowStocks rose toward records Thursday after weekly data showed that the number of Americans applying for unemployment benefits last week hit a fresh pandemic nadir. The Labor Department said initial jobless claims were at 364,000 in the week ended June 26, falling by a seasonally adjusted 51,000 from the prior week's 415,000 claims, which had been raised from 411,000. The Dow Jones Industrial Average was gaining 0.2% at 34,570, closing in on its May 7 record closing high at 34,777.76. The S&P 500 index carved out a fresh intraday record high at 4,307.93 and was trading up 0.2%, on track for its 35th record of 2021. The Nasdaq Composite Index was gaining 0.1% at 14,520, and looking at its 20th record of the year. Meanwhile, investors are awaiting the initial public offering of donut chain Krispy Kreme .
4:46 a.m. June 28, 2021 - Barrons.com
The Reopening RallyAs investors continue driving stocks to record highs, Deutsche Bank's Matt Luzzetti is optimistic that economic strength will continue through the summer. Plus, Invesco's Kristina Hooper unpacks her bullish outlook for European equities.
5:32 a.m. June 24, 2021 - By Mark Decambre
S&P 500 and Nasdaq Composite jump to intraday records ThursdayThe S&P 500 and the Nasdaq Composite rose toward records Thursday morning, even as a report on weekly jobless benefit claims, held nearly steady at aound 400,000, stalling as the labor market mounts a slower-than-hoped-for recovery. The Labor Department reported Thursday that initial unemployment claims, a proxy for layoffs, moved lower last week to 411,000 from an upwardly revised 418,000 the prior week, when claims rose. The S&P 500 index rose to 4,264, up 0.5% and touching an intraday record, the Nasdaq Composite Index advanced 0.6% to a around an intraday record at 14,364, while the Dow Jones Industrial Average climbed 0.5% to 34,040.
8:23 a.m. June 23, 2021 - Barrons.com
Moving From Talk to Action | The Wealth GapA case study: How corporate leaders can have a measurable impact on the wealth gap, with Calvin G. Butler Jr., Exelon Utilities CEO.
8:23 a.m. June 23, 2021 - Barrons.com
How Philanthropy Is Narrowing the Wealth Gap | The Wealth GapAn inside look at the steps philanthropy is taking to tackle inequality, with Darren Walker, president of the Ford Foundation.
8:23 a.m. June 23, 2021 - Barrons.com
The AAPI Experience | The Wealth GapConfronting the economic inequality-and hatred-that faces the Asian American and Pacific Islander communities. BofA Securities Head of ESG Research, Savita Subramanian, speaks with National Domestic Workers Alliance Executive Director, Ai-jen Poo.
8:23 a.m. June 23, 2021 - Barrons.com
The Economics of Race and Inequality | The Wealth GapThe cost of the racial wealth gap: thousands of jobs, homes and businesses are at stake. A conversation with NYC Racial Justice Commission Chair Jennifer Jones Austin, and The Conference Board Chief Economist, Dana Peterson.
4:15 a.m. June 23, 2021 - By Ciara Linnane
Embark Trucks to go public via merger with SPAC Northern Genesis in $4.55 billion dealEmbark Trucks Inc., a maker of self-driving technology for the trucking industry, said Wednesday it is going public via a merger with special purpose acquisition corporation Norther Genesis Acquisition Corp. II , in a deal with a pro forma implied enterprise value of about $4.55 billion. "Over the last five years, Embark has operated America's longest running road-testing program for self-driving trucks to refine the company's sophisticated self-driving software -- purpose-built to navigate Class 8 trucks on long-distance freight trips," the companies said in a joint statement. Once the deal closes, expected in the second half of 2021, Embark will have about $614 million of cash, and a $200 million private investment in public equity, or PIPE, backed by anchor investors including Pension Plan Investment Board (CPP Investments), Knight-Swift Transportation, Mubadala Capital, Sequoia Capital, and Tiger Global Management, together with the Northern Genesis management team and its associated institutional investors. Elaine Chao, former Secretary of Transportation and Labor, and wife of Sen. Mitch McConnell, has joined the Embark board. The funds raised are expected to support the company through 2024, when it expects to commercialize its tech.
3:33 a.m. June 21, 2021 - By Ben Foldy
Lordstown Motors executives sold stock ahead of reporting results, and before troubles came to lightSeveral top executives at Lordstown Motors Corp. sold off chunks of stock in the electric-truck startup ahead of reporting financial results, according to regulatory filings disclosing the transactions.
5:00 a.m. June 18, 2021 - By MarketWatch
Buy these 6 types of stocks next as Big Tech falters and inflation falls, says Swiss bank UBS.U.S. stocks are set for a mixed day ahead, following a tumultuous Thursday that saw technology companies help the Nasdaq eke out gains while the Dow and S&P 500 fell. It’s time to reevaluate the market landscape.
4:28 a.m. June 14, 2021 - By Jaimy Lee
Moderna hires J&J executive as chief medical officerShares of Moderna Inc. were down 2.1% in premarket trading on Monday after the company said it hired Dr. Paul Burton as its new chief medical officer. Burton, a former Johnson & Johnson executive, will report to CEO Stéphane Bancel. He replaces Dr. Zal Taks, who announced plans to leave Moderna earlier this year. Burton most recently was the chief of global medical affairs for J&J's pharmaceuticals business. Both Moderna and J&J have received authorizations for their COVID-19 vaccines in the U.S. Moderna's stock is up 109.5% so far this year, while the broader S&P 500 has gained 13.1%.
12:16 p.m. June 8, 2021 - By Joy Wiltermuth
The Nasdaq just booked its highest finish since April 30 as 30-year Treasury yield hits lowest since FebruaryU.S. stocks ended near records Tuesday, with the Nasdaq Composite trading near its highest level since late April as government bond yields retrat and the blue-chip Dow Jones Industrial Average and the S&P 500 Index come within a stone's throw from all-time record closes not seen since May 7. The Dow finished off less than 0.1% at around 34,600, while the S&P 500 rose less than 0.1% to 4,227. The Nasdaq Composite Index , meanwhile, added about 0.3% to around 13,925, marking its best close since April 30, FactSet data show. The gains for the rate-sensitive tech-heavy index came as the 30-year Treasury bond hit its lowest level since Feb. 26. The moves in the main stock benchmarks come after the Dow and S&P 500 booked slight losses Monday. Outside the main benchmarks, the small-capitalization Russell 2000 index rose over 1%. Investors have been mostly holding tight this week, with Monday's volumes on the New York Stock Exchange clocking in below average for the year-to-date, according to Dow Jones Market Data. What have investors been waiting for? May's consumer-price index will be released Thursday, helping investors gauge how fast prices have been rising during the latest leg of the U.S. recovery. On that front, U.S. oil futures climbed back to $70 a barrel Tuesday, the highest in nearly three years, as oil-producing nations appeared committed to raising global output in a measured way, without flooding the market with crude as the world's biggest economies work on notching further recovery milestones from the COVID crisis. In economic reports, April data released Tuesday morning showed the U.S. international trade deficit narrowed to $68.9 billion from a record $75 billion a month earlier. Economists surveyed by Dow Jones Newswires and The Wall Street Journal had looked for a consensus $69 billion gap. Meanwhile, job openings in the U.S. soared to 9.3 million in April from a revised 8.3 million in the prior month, the Labor Department said. The data underlines concerns about employers inability to fill jobs despite unemployment that remains high as a result of the COVID-19 pandemic.
2:10 a.m. June 7, 2021 - By Tomi Kilgore
Vivint Smart Home names David Bywater its new CEOVivint Smart Home Inc. said Monday it named David Bywater its new chief executive officer, as current CEO Todd Pedersen steps down as previously announced. Bywater has been CEO of Vivint Solar since December 2016, and was chief operating of Vivint Smart Home for about three years before that. He will become CEO of the smart home systems company effective June 15. that he would step down, once a successor was found. The stock, which was still inactive in premarket trading, has dropped 32.9% year to date, while the S&P 500 has gained 12.6%.
8:03 a.m. June 6, 2021 - By Quentin Fottrell
If it’s not enhanced unemployment benefits, why are people turning down jobs? Some people are finding it difficult to get a job, while others need to find affordable child care, home help or even transportationSome people are finding it difficult to get a job, while others need to find affordable child care, home help or even transportation.
10:12 a.m. June 5, 2021 - By Quentin Fottrell
Two signs of COVID-19 that predict higher mortality are ‘easily measured’ at home ‘These findings apply to the lived experience of the majority of patients with COVID-19: being at home, feeling anxious, wondering how to know whether their illness will progress’‘These findings apply to the lived experience of the majority of patients with COVID-19: being at home, feeling anxious, wondering how to know whether their illness will progress.’
5:00 a.m. June 4, 2021 - By MarketWatch
U.S. creates modest 559,000 jobs in May, pointing to widespread labor shortages The U.S. added a modest 559,000 new jobs in May even though most companies are eager to hire, signaling that widespread labor shortages are holding back an economic recovery.
5:20 a.m. June 3, 2021 - By Tomi Kilgore
GM stock jumps after call for first-half results to be 'significantly better' than expectedShares of General Motors Co. jumped 3.2% in premarket trading Thursday, after the automaker said it expects first-half 2021 financial results to be "significantly better" than previous guidance, given its "success" in dealing with the semiconductor shortage. GM also said it is taking steps to boost deliveries to dealers and customers in the U.S. and Canada "to meet strong customer demand" for its Chevrolet, Buick, GMC and Cadillac model vehicles. Production of the Chevrolet Silverado HD and GMC Sierra HD pickups will increase by about 1,000 trucks per month, starting in mid-July, while shipments of Chevrolet Colorado and GMC Canyon pickups will increase by about 30,000 vehicles from mid-May through the week of July 5. "The global semiconductor shortage remains complex and very fluid, but the speed, agility and commitment of our team, including our dealers, has helped us find creative ways to satisfy customers," said Phil Kienle, vice president, North America Manufacturing and Labor Relations. "Customer demand continues to be very strong, and GM's engineering, supply chain and manufacturing teams have done a remarkable job maximizing production of high-demand and capacity-constrained vehicles." The stock has run up 43.3% year to date, while the S&P 500 has gained 12.0%.
12:04 p.m. June 2, 2021 - By William Watts
Stocks end slightly higher as investors await jobs dataMajor stock-market benchmarks eked out small gains Wednesday as investors appeared to await a May report on the labor market due at the end of the week. The Dow Jones Industrial Average rose around 26 points, or 0.1%, to finish near 34,601, according to preliminary figures, while the S&P 500 ticked up around 6 points, or 0.1%, to close near 4,208. The Nasdaq Composite rose around 20 points, or 0.1%, ending near 13,756.
9:53 a.m. June 2, 2021 - By Myra P. Saefong
Gold futures climb back to their highest finish since early January Gold futures to climb back to their highest finish since early January. Prices found support as investors await the "latest checkup over the American labor market," said Edward Moya, senior market analyst at Oanda. The monthly U.S. jobs report will be released Friday. "If gold failed to test the $1,950 level after this week's main event, a pullback could be in the cards," he said. August gold rose $4.90, or 0.3%, to settle at $1,909.90 an ounce. Most-active contract prices marked their highest settlement since Jan. 7, according to FactSet data.
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