CBS New York

Fear, long absent in financial markets as investors bet on a "soft landing" for the U.S. economy, is back in the air on Wall Street.Stocks tumbled Friday after new government data showed a steep decline in hiring in July, spurring concerns that economic activity is slowing faster than economists expected. Two hours into the session, the blue-chip Dow Jones Industrial Average was down 984 points, or 2.4%, to 39,415. The broader S&P 500 sank 2.5%, while the tech-heavy Nasdaq Composite lost nearly 3%, fueled by disappointing quarterly earnings from bellwethers such as Amazon and Intel. Market analyst Adam Crisafulli of Vital Knowledge...

Dow plunges nearly 1,000 points amid sharp drop in U.S. hiring

Jackson, WY

Interest rate cuts are on the way from the Federal Reserve, with Chair Jerome Powell saying on Friday that “the time has come” for rates to start moving lower amid cooling inflation and a slowing labor market. Speaking in a keynote address at the Fed’s annual conference in...

Fed ready to start cutting rates, says Powell

Roger Ferguson, former Fed vice chair and former TIAA CEO, joins 'Squawk on the Street' to discuss Fed Chair Powell's speech at Jackson Hole, what to expect from the Federal Reserve in upcoming meetings, and where lower rates would impact the economy first.

Fed Chair Powell is 'a bit more definitive' on rate cuts than I'd imagined, says Roger Ferguson

America’s top central banker has unambiguously signaled that lower interest rates are finally on the horizon, marking a crucial milestone for the Federal Reserve’s historic — and, so far, successful — inflation fight.

‘The time has come’: The Fed just sent a crucial message about its next move

Kiplinger

Sentiment turned cautious ahead of Fed Chair Powell's highly anticipated speech Friday at the Jackson Hole Economic Symposium.

Stock Market Today: Stocks Drop Ahead of Powell's Jackson Hole Speech

Detroit, MI

After hailing excellent sales and profits in 2023 despite global struggles and strike action here in America, Stellantis (STLA) hasn’t been as fortunate so far in 2024. The automaker has seen sales flounder and profits fall, leading shareholders to even threaten legal action against the automaker. Now, the extent of the automaker’s concerns has become clear as CEO Carlos Tavares prepares to travel to Detroit to try and turn fortunes around for the Jeep owner.

The wheels are coming off at Stellantis

E.l.f. Beauty is proving its red-hot cosmetics brand can resonate with international customers. Dutch Bros is one of the most attractive restaurant growth stocks and could deliver excellent returns. Lululemon has been punished for slowing growth, but its international growth shows potential. These hot brands are surefire bets to beat...

3 Stocks That Can Crush the S&P 500 Over the Next Five Years

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

The $5 footlong may be a thing of the past, but Subway has a new entry for fast food value meal wars as it struggles with sales. Powerful people have a stress problem. Could going to the spa be the answer?. The sandwich chain announced Friday that starting next week...

Subway will sell $6.99 footlongs as the fast foot value wars heat up

The Independent

  Federal Reserve Chair Jerome Powell all but proclaimed victory in the fight against inflation and signaled that interest rate cuts are coming in a much-anticipated speech Friday in Jackson Hole, Wyoming.Under Powell, the Fed raised its benchmark rate to the highest level in 23 years to subdue inflation that two years ago was running at the hottest pace in more than four decades. Inflation has come down steadily, and investors now expect the Fed to start cutting rates at its next meeting in September — an expectation that essentially got Powell's endorsement Friday.     ...

Takeaways from Fed Chair Powell's speech at Jackson Hole

The Motley Fool

These companies became titans by dominating a single industry, but they're now expanding and seeing success in other areas.

These 2 Dow Stocks Are Set to Soar in 2024 and Beyond

Walmart (WMT) wants to compete with Amazon and is aiming to do so by leaning on Burger King. Powerful people have a stress problem. Could going to the spa be the answer?. In an effort to enhance Walmart’s (WMT) loyalty program (Walmart+) to rival that of Amazon’s (AMZN) Prime, the retailer is offering some special perks, including cheap and free Burger King items to its members, the company said in a statement on Thursday.

Now you can get a Whopper with your Walmart run

ATM fees have increased for the fourth consecutive year to reach yet another record high. The average combined ATM fees for an out-of-network withdrawal, which includes the the fee paid to your bank and the surcharge tacked on by the ATM owner, hit $4.77 — its 19th record level, according to a Bankrate (RATE) study released Wednesday.

ATM fees have hit a new record high

Connecticut Public

Federal Reserve chairman Jerome Powell says he's increasingly confident that inflation will soon be tamed, setting the stage for the central bank to start cutting interest rates next month. Speaking at one of the most closely-watched annual gatherings of global central bankers in Jackson Hole, Wyo., Powell noted that inflation...

'The time has come' to lower interest rates: Fed Chair Jerome Powell

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The Lens

This year’s area of low oxygen in the Gulf of Mexico is larger than average, the National Oceanic and Atmospheric Administration (NOAA) announced on Thursday. The “dead zone” is approximately 6,705 square miles , as measured last week. Within NOAA’s 38 years of measuring the dead zone, this year’s assessment marks the 12th-largest area of low to no oxygen, which can kill fish and marine life.

Gulf ‘dead zone’ larger than average, larger than expected for 2024, scientists announce

Markets Insider

"The Powell pivot is here, as the Fed has now firmly turned dovish," Carson Group strategist Ryan Detrick said.

Stock market today: Dow rises 462 points as stocks rally after Powell says rate cuts are coming

The dollar fell and sterling rose to its highest in more than two years on Friday after Federal Reserve Chair Jerome Powell gave an unambiguous signal that the long-anticipated U.S. interest rate cut would come next month. At his keynote speech to the Kansas City Fed's annual economic conference in...

Dollar falls after Powell greenlights September easing

Visa is still delivering solid results, and the stock isn’t expensive. Visa is down 10% in four months, offering a compelling opportunity to invest in the blue chip stock. Visa (V 0.31%) reported third-quarter fiscal 2024 results on July 23. The results were a mixed bag, with a slight beat on earnings and a slight miss on revenue.

My Top Dow Dividend Stock to Buy in August (and It's Not Even Close)

Reuters

(Reuters) - Federal Reserve Chair Jerome Powell said on Friday "the time has come" for the U.S. central bank to cut interest rates as rising risks to the job market left no room for further weakness and inflation was in reach of the Fed's 2% target, offering an explicit endorsement of an imminent policy easing.

Powell green lights September rate cut

The Federal Aviation Administration has three categories for America’s so-called “hub” airports, or the ones that see the most passenger traffic. There are the small hubs that get 0.05 to 0.25% each of all commercial enplanements. There are the medium hubs that 0.25 to 1% each of all commercial enplanements. And then there are the large hubs that get 1% or more all commercial enplanements apiece. One might think that these large hubs, which saw more than 10 million passengers each last year, would have a hard time getting busier year-over-year. But that’s not the case, with many of them seeing double-digit growth.

The 10 fastest-growing major airports in America

NewsBreak

The Dow closes more than 450 points higher as Jerome Powell says 'the time has come' for new Fed policy

The Dow Jones Industrial Average (DJIA) surged over 450 points on Friday afternoon after Federal Reserve Chair Jerome Powell signaled that interest rate cuts might happen...

The Dow closes more than 450 points higher as Jerome Powell says 'the time has come' for new Fed policy

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