Regulatory Dynamics - The Commodity Futures Trading Commission warned prediction market platforms against American-style moneyline betting odds [1] - The regulatory body categorized such betting practices as potentially deceptive [1]

📊 MARKET: Weak jobs data boosted rate-cut hopes, sending the S&P 500 to a record high and all three major indexes to their best week since April. https://t.co/1C6J0bJVfF ...

Welcome to our Bloomberg audiences. Romaine Bostick here with Julie Sue, the deputy mayor of New York City's Economic for Economic Justice. Uh, great to have you here.I do want to start off before we start talking specifically about your role, relatively new role in the expansion of the Economic Development Corporation here in New York City. We just got a big jobs report. Labor market report.You are the former acting labor secretary. We said 23,000 jobs in the most recent month. The previous two months prio ...

Russia detains over 20 in Moscow City crypto exchange raidsRussia's FSB and Interior Ministry shut down nine unregistered crypto exchange offices in Moscow's financial district Friday, detaining more than 20 employees and couriers. Authorities allege the offices laundered cash stolen from phone-scam victims, converting it into crypto sent to wallets the FSB claims were controlled from Ukraine.Those charged face up to 10 years under large-scale fraud statutes, with one arrestee claiming in an FSB video that ...

Labor Market Dynamics - Nonfarm payroll report for July showed a net loss of 23,000 jobs, significantly missing the analyst consensus expectation of an 83,000 net gain [1] - Government revisions lowered job gains for the previous two months by a total of 103,000 jobs [1] - Job losses were disproportionately concentrated in white-collar sectors such as financial services and payroll services due to automation and artificial intelligence adoption [4] - Labor market weakness and wage stagnation led market analysts to shift expectations regarding Federal Reserve monetary policy, anticipating a pause in interest rate hikes rather than an increase [1][2] Macroeconomic Trends and Consumer Impact - Average hourly earnings weakened significantly, failing to keep pace with an inflation rate standing at 3.5% [2][8] - National average gasoline prices rose to $4.04 per gallon, up from $2.98 at the start of the conflict, driven by tight crude markets and geopolitical supply disruptions [9][10] - Persistent inflation, elevated energy costs, and job security fears created severe affordability pressures for U.S. consumers, resulting in a disconnect between macroeconomic indicators and public sentiment [5][7][12]