Private job creation burst to its highest level in more than a year during October, despite a devastating storm season in the Southeast and major labor disruptions, ADP reported Wednesday.The payrolls processing firm said companies hired 233,000 new workers in the month, better than the upwardly revised 159,000 in September and far ahead of the Dow Jones estimate for 113,000. ADP said it was the best month for job creation since July 2023.”Even amid hurricane recovery, job growth was strong in October,” ADP’s chief economist, Nela Richardson, said. “As we round out the year, hiring in the U.S. is proving…
Author: usaeverydaylife
Turns out Jerod Mayo wasn’t completely wrong when he made his much-analyzed comment about the New England Patriots being “soft.” It’s just that he directed his Insta-slam post at the wrong people: If only he had aimed it at Patriots legends instead of Patriots players, Mayo would be getting saluted in every port of call in Football America.The Patriots legends of whom we speak are Robert Kraft, the no-doubt-about-it savior of the franchise whose vision and business acumen are why the NFL has a team called the “New England Patriots” and not a team called the “St. Louis Stallions” or…
The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. Nurphoto | Getty ImagesAstraZeneca’s China president is under investigation and is cooperating with Chinese authorities, the company said on Wednesday, sending shares down as much as 5.3%. It was not immediately clear whether the executive Leon Wang was in the custody of the Chinese government. When asked about Wang’s whereabouts, a company spokesperson only reiterated that the executive was under investigation.The Anglo-Swedish company has for years had one of the strongest market positions among western drugmakers in China, the world’s No.2 pharmaceuticals market behind…
My top 10 things to watch Wednesday, Oct. 30 1. Wall Street was looking at a mixed open. The Nasdaq closed at a record high on Tuesday and was steady early Wednesday. Dow stock Caterpillar weighed on the 30-stock average, which was in the red. The heavy equipment maker missed on earnings and cut guidance. 2. Bond yields remained lower despite the ADP’s monthly report on hiring at U.S. companies more than doubled estimates with 233,000 jobs added in October. The government said the U.S. economy grew at a 2.8% pace in the third quarter. That was slower than expected.…
Sopa Images | Lightrocket | Getty ImagesSuper Micro’s shares plunged as much as 35% Wednesday morning after the company disclosed its auditor had resigned following months of disagreement with the firm over its governance and board independence.Ernst & Young in its resignation letter said it was “unwilling to be associated with the financial statements prepared by management.” The accountancy also raised concerns about the board’s independence from CEO Charles Laing and “other members of management.”EY had been hired to audit Super Micro for the first time for the 2024 fiscal year, the company said. Super Micro has still not issued…
Passers-by walk in the pedestrian zone of the Bavarian capital.Peter Kneffel | Picture Alliance | Getty ImagesGermany’s inflation surged to 2.4% in October, back above the European Central Bank’s 2% target, even as the country narrowly avoided a technical recession in the third quarter. The preliminary print, announced by German statistics office Destatis, is harmonized across the euro area for comparability. Analysts polled by Reuters had been expecting harmonized inflation to come in at 2.1% in October.Harmonized inflation had dropped to 1.8% in September, after coming in at the European Central Bank’s 2% target in August.The data comes after Destatis…
Check out the companies making headlines in premarket trading. Eli Lilly — The drug maker tumbled 7.5% after missing analyst expectations for the third quarter and cutting full-year guidance. Eli Lilly earned $1.18 per share, excluding items, on $11.44 billion in revenue. Analysts polled by LSEG had anticipated earnings of $1.47 a share and $12.11 billion in revenue. Caterpillar — Shares fell more than 5% in the premarket after the industrial giant reported weaker-than-expected earnings for the third quarter. The company posted a profit of $5.17 per share, while analysts polled by LSEG had forecast earnings of $5.34 per share.…
Here are Wednesday’s biggest calls on Wall Street: Bank of America reiterates Advanced Micro Devices as buy Bank of America said the stock is best positioned following earnings on Tuesday. “We believe AMD is well-positioned in the most attractive parts of the semi market – computing, AI and embedded.” JPMorgan reiterates First Solar as overweight The firm said the solar company is still best positioned following earnings on Tuesday. “Given the US business is fully contracted through FY26, we continue to believe that FSLR is relatively best positioned amongst our solar coverage in this regard. FSLR remains on Positive Catalyst…
Gross domestic product was expected to increase at a 3.1% annualized pace in the third quarter. Source link
The results of the presidential election will have a big impact on the economy, foreign relations and health care. But when it comes to technology, one of the most powerful people shaping regulation isn’t a candidate at all. It’s Sam Altman.Neither Republican candidate Donald Trump nor his Democratic rival, Vice President Kamala Harris, have been outspoken on generative AI, much less outlined a clear roadmap to regulating a technology that’s already seen explosive growth and integration into businesses and consumer lives.Altman, the OpenAI co-founder and CEO, meanwhile, has put on a masterclass in wooing Washington, learning from Meta CEO Mark…
