The US economy registered another month of solid jobs growth in May, despite employers grappling with a historically tight labour market. Employers in the world’s largest economy added 390,000 jobs during the month, less than the upwardly revised 436,000 positions created during the previous period but more than economists had expected. The jobless rate steadied
Month: June 2022
The Municipal Securities Rulemaking Board has filed a proposal with the Securities and Exchange Commission to change its fee structure to account for prior year results, a move aimed at ensuring the board maintains sufficient operating revenue and avoids collecting excess cash reserves. The new fee structure will establish a new Annual Rate Card Process
In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated switch from proof-of-work to proof-of-stake can be expected “around June 8 or so.” Interestingly, Ether’s price action is relatively unchanged despite the unexpected bullish announcement. There was a +10% spike on May 30, but those gains were given back between
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Chase Coleman, founder of Tiger Global Management LLC Amanda L. Gordon | Bloomberg | Getty Images Chase Coleman’s Tiger Global Management suffered huge losses in May amid a tech-driven sell-off, making the hedge fund’s tough 2022 even worse. The growth-focused flagship fund at Tiger Global tumbled 14.3% in May, bringing its 2022 losses to over
In this article GME HPE MDB MSFT Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. Charles Platiau | Reuters Check out the companies making headlines in midday trading Thursday. Microsoft — Shares of the technology giant slipped 0.6% after Microsoft cut its earnings and revenue guidance for the fiscal fourth quarter. Microsoft
It’s widely accepted that the fate of the cryptocurrency market depends largely on the performance of Bitcoin (BTC), which makes times like these for crypto traders who prefer to invest in altcoins. When BTC price is down, altcoins tend to follow, but as a bottoming process begins, altcoins tend to perk up during Bitcoin’s consolidation
The real estate refresh continues as new data suggests the housing market hit a turning point in its supply struggle in May. The inventory of active listings has returned, recording the first year-over-year increase since June 2019, according to the Realtor.com monthly housing trends report released today. At the same time, the median national home
A single family home is shown for sale in Encinitas, California. Mike Blake | Reuters Mortgage demand slipped to the lowest level since December 2018, even after rates declined slightly last week. Applications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association’s
The Securities and Exchange Commission has leveled fraud charges against Sterlington, Louisiana, its former mayor, municipal advisor Twin Spires Financial and that firm’s owner in the sale of $5.8 million of municipal bonds between 2017 and 2018. The SEC alleged that Twin Spires and its owner Aaron Fletcher, along with the active participation and approval
Opec and its allies on Thursday agreed to accelerate oil production in July and August, as the cartel’s linchpin Saudi Arabia bowed to US pressure to cool a crude price rally that has threatened to stall the global economy. The cartel said it would increase output by almost 650,000 barrels a day in both months,
Sacramento-based Sutter Health received an improved outlook to stable from negative by Moody’s Investors Service, reflecting expectations that the health system’s improved financial position will continue. The outlook revision affects $4.5 billion in debt. “The affirmation of the A1 rating and the revision of the outlook reflect our expectation that recent operating improvements will be
In this article MS Countries like the U.S. and U.K. are grappling with inflation that has risen to multi-year highs as the Ukraine war has caused energy prices to spike and food prices to rise. Angela Weiss | AFP | Getty Images Talk of a recession is heating up, with Wall Street veterans flagging the
Pedestrians pass in front of the Salesforce Tower in New York. Victor J. Blue | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Salesforce — Shares of the enterprise-software maker jumped nearly 10% after the company’s stronger-than-expected quarterly earnings report. Salesforce also lifted its full-year earnings guidance, but reduced its
Bitcoin (BTC) has made a tentative start to the month of June, suggesting that bears have not gone into hibernation just yet. Although Bitcoin is trading nearly 55% off its all-time high of $69,000, whales and institutions remain cautious and have not jumped into the market with gusto, according to BlockTrends analyst Caue Oliveira. According
With America’s infrastructure challenges and acute housing shortage demanding solutions, is it possible standardization may provide a few of the answers? Some leading design industry observers believe so. They are convinced standardization and repeatability when combined with the ability to produce all kinds of buildings and taken to warp speed just might be game changers.
A “For Sale” sign outside a house in Crockett, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates rose sharply this week, after pulling back over the last three weeks. The 30-year fixed hit 5.36% Monday and then moved higher again Tuesday to 5.47%, according to Mortgage News
Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency. The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of Tuesday, according to
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The pipeline of public-private partnership transportation deals is slowly building in the U.S., though it continues to lag the rest of the world. Globally, private investment in infrastructure is booming and U.S. public pension funds are getting in on the action, according to Reason Foundation’s latest annual report highlighting 2021 activity in the infrastructure investment
JPMorgan Chase chief executive Jamie Dimon on Wednesday warned investors to brace themselves for an economic “hurricane” as the war in Ukraine and policy tightening by the Federal Reserve roil markets. Dimon struck a gloomier tone on the economic outlook than in remarks he made just last week during JPMorgan’s first investor day in two
Municipals were slightly firmer in light trading Tuesday with the asset class ignoring a large selloff in U.S. Treasuries while equities ended the session with losses. Triple-A yield curves saw up to two basis point bumps, continuing to outperform U.S. Treasuries, moving ratios lower again. Muni-to-UST ratios were at 74% in five years, 87% in
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