Constellation reported lower third-quarter sales as beer sales lag amid weak consumer sentiment and a pullback in spending from Hispanic drinkers due to the Trump administration's immigration crackdow... ...

Core Insights - The U.S. job market may be in worse condition than previously thought, with an average loss of 20,000 jobs per month from April to September instead of a gain of 43,000 jobs [1][6] - Federal Reserve Chair Jerome Powell indicated that the economy likely gained around 60,000 fewer jobs each month than earlier reported [1][6] Labor Market Data - The Bureau of Labor Statistics reported a gain of 119,000 jobs in September, but if Powell's estimates are accurate, the actual number could be about half that [2] - The potential downward revision of job growth highlights ongoing concerns regarding the labor market's health [6] Economic Implications - A weaker labor market could negatively impact wages, consumer spending, and overall confidence, influencing expectations for future Federal Reserve rate cuts [3] - Powell's comments suggest a gradual cooling of the labor market, potentially influenced by tariff-related uncertainties and immigration policies [4][5]

Immigration Detention & Economic Impact - US citizen Carol Bdios' father was detained by ICE, highlighting due process concerns [1][2] - The US immigration system faces challenges beyond local control [3] - Towns like Estansia, New Mexico rely heavily on federal prison contracts for revenue [4] - Two-thirds (66.67%) of Estansia's gross receipts tax comes from the federal prison contract [4] - The reliance on prison contracts is viewed as a "necessary evil" by some [4] - The system involves significant corporate profits derived from immigration detention [5] - Counties face a difficult balance between economic survival and dependence on human suffering [5]

The Trump administration appealed a judge’s order that permanently blocked the president’s effort to deploy National Guard troops to Portland, Oregon, to counter protests against his immigration crackdown https://t.co/7LmdcF8YUI ...

Core Viewpoint - Remitly, a financial technology company specializing in money transfers, is experiencing significant stock price decline despite its market share growth since its founding in 2011, largely due to external factors such as immigration policies and market uncertainties [1][4]. Financial Performance - Remitly reported a 24% drop in stock price following its third quarter financial results, reducing its market value to $2.6 billion [2]. - The company anticipates fourth quarter revenue of approximately $427 million, reflecting a growth rate of about 22%, which is a decline from previous quarterly growth rates of 24% to 34% [3]. - Adjusted EBITDA metrics indicate a slight decrease in profits for the third quarter compared to the second quarter [3]. Market Dynamics - Remitly has 8.9 million active customers who collectively send around $20 billion each quarter, with Mexico being a primary destination for remittances [5]. - Consumer remittance payments to Mexico have decreased by 5.5% to $45.7 billion in the first nine months of the year, reversing a long-term growth trend due to immigration policy changes [5]. - The U.S. immigrant population has begun to decline for the first time in 50 years, which may impact new customer acquisition for Remitly [6]. Investor Sentiment - The lack of clarity regarding the reasons for the expected slowdown in growth has contributed to investor concerns, leading to a significant stock price drop [8]. - Analysts have noted that the third quarter earnings release raises more questions than it answers, indicating uncertainty in the company's future performance [8].