Investments and Business

Unemployment rates among white, black and Hispanic women rose in June, in line with broader economic trends, according to data released Friday by the Labor Department. White adult women saw a slight increase in unemployment, from 3.0% in May to 3.1% in June. Black women saw their unemployment rate increase from 5.2% to 5.7%, while Hispanic women saw an increase from 4.1% to 4.5%. Overall, the national unemployment rate rose to 4.1%, from 4.0% last month. In contrast, unemployment rates for men in all three racial groups declined. The rate for white men fell to 3.2 percent from 3.4 percent,…

July marked an unprecedented milestone for exchange-traded funds (ETFs), with inflows hitting a record $127 billion, according to State Street Global Advisors. That not only made it the best July on record, but also the second-largest monthly inflow on record. Matt Bartolini, head of SPDR Americas research, discussed the factors behind the rally on CNBC’s “ETF Edge” on Thursday. “Part of this is just the market,” Bartolini explained. “Investors are putting money that’s been sitting on the sidelines for years. We’re seeing a concerted effort to continue buying into this rally, along with a broadening of market participation.” Bartolini also…

Washington DC — Sports streaming service Venu, priced at $42.99 a month, faces a major marketing challenge: finding its audience. Venu, jointly owned by Disney, Fox and Warner Bros. Discovery, announced Thursday that it will launch this fall. While it’s more expensive than services like NetflixMax and Peacock, it costs less than YouTube TV at $73 a month or a standard cable package, but those include a wider variety of entertainment, not just sports. Venu will provide access to a selection of networks: ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, Fox, FS1, FS2, BTN, TNT, TBS, and truTV. Subscribers will…

Here are some of the stocks that saw significant mid-day fluctuations: Shake Shack: The popular fast food chain saw a significant move in its stock price as investors reacted to its recent earnings reports and market trends. Italian: The logistics company's shares have seen some volatility, influenced by industry developments and financial performance updates. Mobileye Global: The technology company's shares have seen considerable activity, driven by new product announcements and strategic partnerships. Stay tuned for more updates on these and other key headlines throughout the trading day.

The U.S. labor market is expected to show signs of cooling in July, due to the gradual economic slowdown and the impact of Hurricane Beryl on hiring rates. The Labor Department’s July nonfarm payrolls report, due Friday at 8:30 a.m. ET, is expected to reflect this slight decline. However, the expected decline is in line with the Federal Reserve’s strategy for a controlled economic slowdown. “If the Fed was aiming for a soft landing, it looks like it’s done it,” said Mike Reynolds, vice president of investment strategy at Glenmede. “We’re seeing some weakness in the labor market, but nothing…

DALY CITY, CA — Shares of Carvana rose as much as 14% in after-hours trading Wednesday after the company beat Wall Street expectations for the second quarter and forecast record adjusted earnings for 2024. Second Quarter Performance Highlights Carvana reported solid second-quarter results, significantly beating analysts’ forecasts as compiled by LSEG: Earnings per share (EPS): 14 cents versus an expected loss of 7 cents Income: $3.41 billion versus the expected $3.24 billion This solid performance was fueled by a 32.5% year-over-year increase in retail sales, with more than 101,400 Carvana vehicles sold during the quarter. Share Offering Announcement Concurrent with…

A key inflation gauge for the Federal Reserve showed a modest increase in June from a year earlier, potentially setting the stage for an expected interest rate cut in September. The personal consumption expenditures (PCE) price index, a key measure of inflation, rose 0.1% in June and is up 2.5% year over year, matching Dow Jones estimates, the Commerce Department reported Friday. That follows a 2.6% year-over-year increase in May, with the monthly measure unchanged. The Federal Reserve relies heavily on the PCE index to measure inflation, which remains above the central bank's long-term target of 2%. Core inflation, which…

Wholesale prices rose modestly in June, slightly beating expectations, as Wall Street ponders when the Federal Reserve might be inclined to cut interest rates. The Bureau of Labor Statistics reported Friday that the producer price index (PPI) rose 0.2% last month. That was higher than the 0.1% increase economists surveyed by Dow Jones had expected. On a year-over-year basis, the PPI rose 2.6%. The PPI measures the prices producers receive for their goods and services in the marketplace. In June, the index's rise was driven by higher service costs, which offset a decline in goods prices. This reading was an…

Today's housing market is significantly different from that of just a few years ago. High mortgage rates and rising home prices have reduced consumer purchasing power, while limited housing supply maintains fierce competition. As a result, housing affordability has declined significantly since the pandemic began. Here are six charts that illustrate the current state of the real estate market and its implications: 1. Mortgage rates:The 30-year mortgage rate, a popular choice among homebuyers, is key to understanding the market. This rate determines the cost of borrowing to buy a home. The rate has recently hovered around 7%, down from a…

DETROIT — General Motors has unveiled the latest version of its iconic sports car, the Chevrolet Corvette, set to become the most powerful model in the brand’s history. The 2025 Chevy Corvette ZR1 will feature a 5.5-liter twin-turbo V8 engine that produces over 1,000 horsepower and 828 pound-feet of torque. This significant increase in power positions the ZR1 among the elite supercars, typically priced in the hundreds of thousands of dollars. “This car accelerates like a freight train,” noted Tadge Juechter, Corvette’s executive chief engineer since 2006, at a recent media event. “We expect this to be the fastest car…