Fed Chair Janet Yellen has made clear she would rather delay an interest rate hike for too long than move sooner and risk jeopardizing a tepid economic recovery, a conviction that will face its sharpest test yet on Thursday.
The number of Americans filing new applications for unemployment benefits fell last week to the lowest level in eight weeks, suggesting the labor market continued to strengthen despite the recent tightening in financial market conditions.
World stocks inched to a three-week high and the dollar drifted lower on Thursday as markets waited to see if the Federal Reserve would raise U.S. interest rates for the first time in almost a decade, or opt to wait a little longer.
Deutsche Bank aims to cut roughly 23,000 jobs, or about one quarter of total staff, through layoffs mainly in technology activities and by spinning off its PostBank division, financial sources said on Monday.
We have the "all clear" as Chinese authorities have told us their correction is over. Now we learn the Chinese central bank burned $93.9 billion in reserves last month, a record and double what they did in July.
Heading into the long Labor Day weekend, investors were dealt a curious report from the Bureau of Labor. The headline gain of 173,000 new jobs was most certainly below par. The estimate from Bloomberg before the release called for a gain of 217,000 jobs.
Total nonfarm payroll employment increased by 173,000 in August, and the unemployment rate edged down to 5.1%, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and social assistance and in financial activities.