President Trump said he has directed his team to fire the commissioner of labor statistics just hours after the agency issued a weak July jobs report. The report showed lower job growth than forecast adding 73,000 jobs in July. A slight uptick in the unemployment rate to 4.2%.Hiring numbers for May and June were also significantly revised down showing that just 106,000 jobs were added in the past 3 months. Statisticians revised down how much growth we had in prior months by around a quarter of a million, wh ...

Investors probably don't expect huge gains from businesses that operate in a very mature industry like financial services. But JPMorgan Chase (JPM -1.17%) has shown that it can be a big winner. The massive bank has generated a total return of 252% in the past five years (as of July 28). Shares of this banking powerhouse have soared in recent years. It seems that every single quarter, JPMorgan Chase's latest numbers come in well ahead of Wall Street analyst estimates. This is exactly what happened in Q2, whi ...

Group 1 - JPMorgan CEO Jamie Dimon has recently met with President Trump at the White House, indicating a thaw in their previously strained relationship [1][4][5] - Dimon praised Trump's trade deal with Japan and suggested that interest rates could decrease if the economy continues to grow [2][4] - The meetings included discussions on the economy, trade, and financial regulations, with other officials such as Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick present [4][5] Group 2 - The relationship between Dimon and Trump had been tense, particularly after Dimon criticized Trump's refusal to concede the 2020 election [6][7] - Dimon has expressed willingness to collaborate with leaders from both political parties when it serves national interests [6] - Recent comments from Dimon regarding illegal immigration and support for Fed Chair Jerome Powell have caused friction with both the Biden administration and Trump [10]

Economic Outlook - The US economy is currently performing strongly [1] - Cutting interest rates could stimulate an even larger economic boom [1] Potential Benefits of Lower Interest Rates - Increased home affordability for more Americans [1] - Greater investment in R&D by American businesses [1] - Improved portfolio performance for American investors [1] Recommendation - Industry suggests creating conditions for a historic economic boom by fully leveraging economic opportunities [1]

Market Overview - The Federal Open Market Committee (FOMC) decided to keep interest rates steady at +4.25-4.50% during its five meetings in 2025, acknowledging moderated growth but stable unemployment and labor market conditions [2][4] - Fed Chair Powell indicated that tariffs are beginning to impact inflation metrics, with the latest CPI Inflation Rate rising to +2.7% [5][4] - Market indexes experienced declines following Powell's statements, although the Nasdaq managed a slight gain of +0.15% by the close [1][6] Company Earnings Reports - Microsoft reported fiscal Q4 earnings of $3.65 per share, exceeding expectations by $0.30, with revenues of $76.4 billion, up +18% year over year, driven by a +39% increase in its Azure cloud business [6] - Meta Platforms significantly surpassed earnings projections with $7.14 per share against an anticipated $5.83, and revenues of $47.52 billion, up from $44.84 billion, with a +6% increase in Daily Active People to 3.48 billion [7] - Ford Motor Co. reported Q2 earnings per share of $0.37, exceeding estimates, with revenues over $50 billion, but shares fell due to $800 million in costs attributed to direct tariff exposure [9] - Qualcomm's fiscal Q3 earnings were $2.77 per share, beating expectations by $0.07, but revenues of $10.37 billion slightly missed the forecast, leading to a -4.6% drop in shares [10]

Hi, Chair Pal. Uh, Nancy Marshall Gendzer with Marketplace. Um, one more question on the, uh, lack of unonymity in today's decision, the two descents.Was there talk during the meeting, I know you're not going to talk about what exactly what individuals said, but in general, was there talk during the meeting of cutting rates and what was the case against that at the meeting. >> Sure. So you know we have we have an economic goaround where people talk about the economy and then the next and today that's yester ...

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Market Overview - The S&P 500 and Nasdaq reached intra-day record highs but closed in the red, with the Dow down 204 points (-0.46%), S&P 500 down 18 points (-0.30%), Nasdaq down 80 points (-0.38%), and Russell 2000 down 13 points (-0.61%) [1] - Trade deals are progressing but lack the strength to drive the market higher, with Q2 earnings showing some weaknesses outside of Big Tech [2] Federal Reserve Policy - A new announcement on Fed policy is expected, with the current interest rate of 4.25-4.50% likely to remain unchanged for the fifth consecutive FOMC meeting [3] - Some analysts anticipate dissent among Fed members regarding the need for rate cuts despite current unemployment at +4.1% and inflation at +2.7% [3] Earnings Reports - **Starbucks (SBUX)**: Reported Q3 earnings of $0.50 per share, missing the consensus of $0.65, attributed to a one-time charge of $0.11. Revenues were $9.50 billion, exceeding expectations of $9.30 billion. Same-store sales fell -2% compared to a -1.3% consensus [4][5] - **Visa (V)**: Reported earnings of $2.98 per share, beating expectations of $2.86, with revenues of $10.2 billion surpassing the $9.87 billion forecast. Despite strong performance, shares fell -3% in after-hours trading [6] - **Booking Holdings (BKNG)**: Reported Q2 earnings of $55.40 per share, exceeding the $50.59 estimate, with revenues of $6.8 billion above the $6.56 billion consensus. Gross bookings reached $46.7 billion [7] - **Mondelez (MDLZ)**: Reported earnings of $0.73 per share, beating estimates by $0.05, with revenues of $8.98 billion exceeding the $8.88 billion expectation. The company faced challenges from rising cocoa prices and tariffs [8] Upcoming Market Events - The earnings season is expected to peak with reports from major companies like Microsoft and Meta Platforms, along with others such as Ford and Qualcomm [9] - Private-sector payroll data from ADP is anticipated, with a consensus of +64K jobs for July, following a previous decline of -33K [10] - Q2 GDP is projected to rebound to +2.3% from Q1's -0.5%, influenced by tariff policies and economic outlook improvements [10]

Bond traders cut bets on Treasuries over the past week, as markets brace for a Fed meeting that's expected to shed light on how aggressively it will lower interest rates in coming months https://t.co/sqKToIt9X1 ...

Our next guest says the rally makes sense. Thinks the S&P could hit 6,700 by year end. Joining us here at Post 9 is UBS Global Wealth senior portfolio manager Alan Rexavan.Allan, welcome back. Good to see you. >> Good to see you, Carl.>> We do have a couple year-end targets with a seven handle. Do you think you might get there. >> Look, uh I think that what we've seen is this rally represents the the prices catching up with policy.People now have faith in the tariff negotiation strategy of the president. An ...