This morning, the U.S. Labor Department announced that the American economy added 138,000 jobs in May, far short of the 185,000 positions projected by economists. After the report, attention turned to the Federal Reserve. Interest rates are expected to be raised this month, as the central bank has called for at least two more rate hikes in 2017. Here's more on whether the Fed should raise interest rates in the coming weeks.
With markets no longer anticipating two rate hikes in 2017, shares of Bank of America Corp. (NYSE: BAC), JPMorgan Chase & Co. (NYSE: JPM), and Goldman Sachs Group Inc. (NYSE: GS) were all down on the day.
This Could Make Big Oil Obsolete:One gallon of this new fuel could produce enough energy to power a car for 42,325 miles.Read more...
Crude oil prices pushed lower as global traders weigh last week's decline in U.S. inventories and OPEC's extension to its production deal by 12 months. Traders were also speculating on the long-term impact of President Donald Trump's decision to pull the United States out of the Paris climate agreement. WTI crude oil price today dipped 1.2%, and Brent crude fell 1.1%.
Americans know Blue Apron as the company that has delivered food kits and pioneered a new home service sweeping the nation. But now the firm is planning its initial public offering. The company, launched five years ago, filed yesterday to go public. The company plans to trade under the symbol "APRN."
CEOs across the country are telling President Trump that he was wrong to pull the U.S. out of the Paris climate agreement. Today, JPMorgan Chase CEO Jamie Dimon said that he "absolutely" disagreed with the Trump administration over the decision, but he said it was important to stay engaged with America's elected officials. His statement came after Tesla Inc. (Nasdaq: TSLA) CEO Elon Musk and Walt Disney Co. (NYSE: DIS) CEO Bob Iger quit Trump's business advisory council over the president's decision. Others expressing disappointment included Apple Inc. (Nasdaq: AAPL) CEO Tim Cook and Facebook Inc. (Nasdaq: FB) CEO Mark Zuckerberg.
Four Stocks to Watch Friday: MYL, AVGO, WDC, AMZN
Another day, another Washington scandal. U.S. Sen. Chuck Grassley (R-IA) just revealed that taxpayers overpaid by as much as $1.27 billion for the EpiPen from 2006 to 2016, a whopping $805 million more than the overpayment previously reported. That has ignited outrage against EpiPen's manufacturer Mylan N.V. (Nasdaq: MYL). How serious is this discovery? Money Morning breaks down the stunning compensation levels for MYL executives during the overpayments, right here.
Shares of Broadcom Ltd. (Nasdaq: AVGO) added more than 8% after the semiconductor company topped Wall Street earnings expectations. The stock offered the biggest boost to the Nasdaq and hit a new all-time high.
In deal news, Bloomberg reports that Western Digital Corp. (NYSE: WDC) CEO Steve Milligan will travel to Tokyo in the coming days to discuss a new offer for the semiconductor unit of Toshiba. The memory chip industry has experienced significant consolidation in recent years. WDC shares were flat on the day.
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Which States Will Legalize Marijuana Next?
Investors around the world are wondering if they should even bother to buy Amazon stock. The global e-commerce giant just saw its stock rise to $1,000 per share. Naturally, that number had critics telling investors to avoid Amazon.com Inc. (Nasdaq: AMZN). But we remain very bullish on this company, particularly at a time that none of its rivals appear to have any plan to beat Amazon at its own game. Here's why AMZN stock remains a buy and how you can start making a profit off its rise today.
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.