Investment Thesis The Invesco Russell 1000 Dynamic Multifactor ETF (BATS:OMFL) has quickly earned a reputation for being unpredictable. Last year, annual portfolio turnover skyrocketed to 350%, and although I cautioned against this in my April 2023 review of the fund, I’m still surprised at the fund’s extreme fall from grace.…
NEW YORK (September 6) — The Bureau of Labor Statistics (BLS) announced 142,000 new jobs this morning, according to the Establishment Survey, a collection of job creation data from businesses. The number is well below the 165,000 consensus estimate. June and July jobs creation figures were also revised down by 61,000 and 25,000 new jobs, respectively, bringing the average non-farms jobs creation figure for the last three months to a less-than-robust 116,000 new jobs. The…
LONDON — European stocks closed lower Friday afternoon, paring earlier gains after a weaker than expected U.S. jobs report clouded global sentiment.The pan-European Stoxx 600 closed down 1.15%, with all major bourses and almost all sectors ending in the red. Tech and mining stocks saw the biggest losses, shedding 2.39% and 2.41%, respectively. Health care stocks were a rare outlier, up just 0.02%.The benchmark ended the week down 2.5%, marking its biggest weekly loss since…
The S&P 500 dropped Friday, notching its worst week since March 2023, as investors assessed the fallout from a weak August jobs report and ditched leading technology stocks.The broad index slid 1.73% to settle at 5,408.42, while the Nasdaq Composite shed 2.55% to close at 16,690.83. The tech-heavy index ended the session more than 10% off its record close. The Dow Jones Industrial Average fell 410.34 points, or 1.01%, to end at 40,345.41.”It’s a sentiment-driven…
The new August jobs report shows employment numbers of U.S.-born workers and foreign-born workers going on two very different trajectories. Data released by the Bureau of Labor Statistics, an arm of the Department of Labor, shows native-born Americans lost more than 1.3 million jobs over the last 12 months, while foreign-born workers gained more than 1.2 million jobs. The news comes as U.S. job growth picked up in August but missed economists’ expectations, while the unemployment rate…
A Global Insurer the Bulls Have Been Chasing In this week’s series of articles, I am continuing on the theme of mega-insurers with an analysis of Chubb Limited (NYSE:CB). To best summarize what this firm does, here is what the company said about itself on its official website: With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to…
CNBC’s Jim Cramer said Friday that August’s softer-than-expected jobs report does not dampen the chances of a soft landing for the U.S. economy. The Bureau of Labor Statistics said Friday that the U.S. economy added 142,000 jobs in August, slightly lower than Dow Jones estimates of 161,000. The unemployment rate came in as expected, ticking down to 4.2%. The data is additional evidence of a slowing labor market, but it does not increase the likelihood…
Federal Reserve Governor Christopher Waller on Friday backed an interest rate cut at the upcoming central bank policy meeting in less than two weeks, and indicated he’d be open to a substantial reduction if necessary.”Considering the achieved and continuing progress on inflation and moderation in the labor market, I believe the time has come to lower the target range for the federal funds rate at our upcoming meeting,” Waller said in remarks prepared for the…
African Rainbow Minerals Limited (OTCPK:AFBOF) Q4 2024 Results Conference Call September 6, 2024 5:00 AM ET Company Participants Tsundzukani Mhlanga – Finance DirectorPatrice Motsepe – Executive ChairmanPhillip Tobias – Chief Executive OfficerAndre Joubert – Chief Executive, ARM FerrousMichael Schmidt – Board of DirectorsThando Mkatshana – Chief Executive, ARM Platinum Conference Call Participants Martin Creamer – Mining WeeklyLeroy Mnguni – HSBCTim Clark – SBG SecuritiesLisa Steyn – News24Shilan Modi – HSBCBrian Morgan – RMB I Morgan…
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By Seema Shah, Chief Global Strategist Market response The August jobs report was a mixed bag and failed to resolve the recession debate that July’s jobs report had triggered. Non-farm payroll growth picked up in August to 142,000 but was below consensus expectations, while July’s already weak number was downwardly revised to just 89,000. However, offsetting this disappointment was a dip in the unemployment rate and a rise in hours worked. The Fed is set to lower policy rates this month – but today’s labor data has not clarified the question of a 25bps versus 50bps cut. Non-farm payrolls Thousands,…
A federal judge in Georgia has temporarily blocked President Biden’s administration from implementing its plan to waive federal student loans for almost 30 million borrowers. U.S. District Judge J. Randal Hall issued the order on Thursday, ruling that the states currently suing the administration over the plan have established a…
Ronan Joyce, director of digital innovation at Manchester United, said: “Player Trading Cards allows United fans to collect the whole men’s first team squad, to see those collectibles evolve throughout the season as games are played and goals are scored, and have the ability to play those cards in a…
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Former President Donald Trump will not be sentenced in his New York criminal hush money case until after the Nov. 5 presidential election, a judge ruled Friday.The sentencing date, which was set for Sept. 18, will instead take place on Nov. 26, Manhattan Supreme Court Judge Juan Merchan ruled.And Trump, the Republican presidential nominee, will not be sentenced at all if the court grants his request to dismiss the case in light of a Supreme…
GitLab, Inc. (NASDAQ:GTLB) was a clear AI winner and the company responded with fantastic results. The DevSecOps leader is a clear beneficiary of AI boosting software development, leading to strong results, while other enterprise software companies struggle with the transition. My investment thesis remains Neutral on the stock following the big rally after the strong earnings report. Source: FinvizAnother Big Beat GitLab just reported sales for FQ2 ’25 surged by 31%, with the company reporting…
On Friday, the U.S. Bureau of Labor Statistics released a highly anticipated employment report that could be one of the most important pieces of economic news this year. The report gives an employment picture that will be crucial to interest rate decisions made by the Federal Reserve at its September 18 meeting later this month.Economists expected U.S. employers to add 20,000 more jobs in August than reported. Meanwhile, 800,000 more people are unemployed now than…
The Green Bay Packers, valued at $6.3 billion, are the only publicly-owned NFL team and the sole team in all North American major sports leagues with this ownership structure, CNBC reports.The tradition of fan ownership was initiated more than 100 years ago, with six stock offerings so far (1923, 1935, 1950, 1997, 2011, 2021), with an ownership cap of 200,000 shares per person. The first offering was $5 a share. The latest was around $300,…
Entrepreneur I want to share some of the strategies that have helped me achieve crazy results — 10x returns on my marketing efforts, no joke.I know how overwhelming it can be with all of the marketing advice that’s out there, but I’m here to cut through the noise and give you some actionable tips that have worked wonders for me.1. Thinking outside the box — the key to successFirst off, I can’t stress enough how…
Entrepreneur Finding the perfect hire for a senior executive position can take months of searching and interviewing — but that’s only half the battle.Without an effective onboarding strategy, you may end up repeating your search in 12-18 months. Whether you let them go for failing to hit their target or they leave out of frustration, the result is the same.When that happens, you’ve not only wasted time and effort, but you’ve also lost a substantial…
The proposed $2.78 billion settlement of the House v. NCAA antitrust case is on hold after U.S. District Judge Claudia Wilken expressed reservations about the terms on Thursday in Oakland, California. Wilken stated her concern about provisions of the deal that could affect name, image and likeness (NIL) payments to student-athletes. She asked for a revision to be submitted within three weeks. “I’m concerned about the third-party NIL restrictions,” Wilken said. “I’m concerned (the settlement) will limit…
‘We don’t make any changes until the law has passed’Currently, investors pay 0%, 15% or 20% for long-term capital gains, plus an extra 3.8% net investment income tax, or NIIT, once modified adjusted gross income, or MAGI, exceeds $200,000 for single filers or $250,000 for married couples filing together. Harris’ plan would also increase the NIIT to 5%, the Wall Street Journal reported on Wednesday.Profitable assets owned for one year or less are subject to…
Check out the companies making headlines in midday trading: Nio — U.S. shares of the Chinese electric vehicle maker popped 2% after a JPMorgan upgrade to overweight from neutral. The firm said Nio could be in for a recovery rally after a tough year so far. Super Micro Computer — Shares shed 6% after JPMorgan downgraded the artificial intelligence server producer to neutral from overweight, saying there is no reason to buy the stock while…
Investment action I recommended a hold rating for Korn Ferry (NYSE:KFY) when I wrote about it in June, as I no longer think the business will see a growth recovery in FY25 given the prevailing interest rate situation and management guidance. Based on my current outlook and analysis, I recommend a hold rating. Although 1Q25 results had several positives, I am not certain that a growth recovery will happen in the coming months given the…
