Month: August 2024

Weekly jobless claims fall to 233,000, less than expected, in a positive sign for labor market
Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits came to a seasonally adjusted 233,000 for the week, a decline of 17,000 from the previous week’s upwardly revised level and lower than the Dow Jones estimate for 240,000, the […]
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JPMorgan raises 2024 recession odds to 35%
JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in […]
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‘Diversification is your free lunch’ as market dynamics shift, CEO of world’s largest index provider says
Diversification into smaller stocks is a “free lunch” for long-term investors as market trends shift, according to the head of the world’s largest index provider. After a period of concentration into the “Magnificent Seven” mega-cap tech stocks — comparable to the dotcom bubble of the 1990s — traders are diversifying their strategies with small caps […]
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Catalan separatist Carles Puigdemont returns to Spain after seven years, defying risk of arrest
BARCELONA, SPAIN – AUGUST 08: Former Catalan President Carles Puigdemont makes his first public appearance since he fled Spain in 2017, speaking at a public rally in Barcelona, Spain on August 08, 2024. Since leading the failed 2017 independence push for Catalonia to break away from Spain, he has been wanted by the Spanish justice […]
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Trump, Harris deploy running mates to wage class warfare over ‘what middle America is’
Democratic vice presidential candidate, Minnesota Governor Tim Walz, speaks during a campaign rally with U.S. Vice President and Democratic presidential candidate Kamala Harris, in Philadelphia, Pennsylvania, U.S., August 6, 2024. Kevin Lamarque | Reuters With their running mate selections, Donald Trump and Kamala Harris have opened up a new front in the battle for the […]
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Three Disney films could top $1 billion this year after box office rut
Hugh Jackman, Robert Iger, and Ryan Reynolds at the Marvel Studios’ “Deadpool & Wolverine” World Premiere held at David H. Koch Theater on July 22, 2024 in New York, New York. Kristina Bumphrey | Variety | Getty Images After years of starts and stops at the box office, Disney appears to have hit a groove […]
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Dolce & Gabbana launches $100 perfume for dogs inspired by owner’s poodle
Passers-by are reflected on the window of a Dolce & Gabbana luxury fashion house boutique displaying their new perfume for dogs called ‘Fefé’ in central Rome, on August 8, 2024. Dolce & Gabbana has launched a new alcohol-free dog fragrance certified suitable for animal use called “Fefé” in honor of Domenico Dolce’s pet. (Photo by […]
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Boeing’s new outsider CEO Ortberg takes the helm, this time from the factory floor
Robert K. “Kelly” Ortberg is the Boeing’s new president and chief executive officer, effective August 8, 2024. Ortberg will also serve on Boeing’s Board of Directors. Courtesy: Boeing Aerospace veteran Robert “Kelly” Ortberg becomes Boeing‘s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. That enormous goal will […]
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Stocks making the biggest moves premarket: Eli Lilly, Under Armour, Warner Bros. Discovery and more
Check out the companies making headlines in premarket trading. Eli Lilly — The drug maker’s stock surged 8% in premarket trading after the firm reported second-quarter earnings and revenue that blew past expectations. Eli Lilly also hiked its full-year revenue outlook by $3 billion as sales of its blockbuster diabetes drug Mounjaro and weight loss […]
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Under Armour sales fall after retailer cuts discounts, promotions in bid to be more premium
Under Armour on Thursday said quarterly sales fell 14% in North America, and adjusted its full-year profit guidance after settling a years-old securities lawsuit for $434 million. Still, the company beat Wall Street’s expectations on the top and bottom lines. Here’s how the athletic apparel company did in its first fiscal quarter compared with what […]
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