Economic News
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U.S. hiring takes big step back as businesses scramble for workers, raw materials
WASHINGTON (Reuters) - U.S. job growth unexpectedly slowed in April, likely curbed by shortages of workers and raw materials as rapidly improving public health and massive government aid fueled an economic boom.
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Tough U.S. jobs report shows Biden's rocky road to full economic recovery
WASHINGTON (Reuters) - President Joe Biden reacted on Friday to a disappointing April jobs report by saying the U.S. economy has a "long way to go" before recovering from its pandemic slump, and he urged Washington to do more to help the American people.
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S&P 500, Dow end at record highs as weak jobs data eases rate worries
NEW YORK (Reuters) - The Dow and S&P 500 hit record closing highs on Friday while registering gains for the week, and the Nasdaq recovered after U.S. jobs data eased concerns over prospects for rising rates.
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After shock U.S. jobs data, Republicans and Democrats spar over unemployment benefits
WASHINGTON (Reuters) - What did the disappointing U.S. jobs report on Friday say about the state of the world's biggest economy?
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Fed's super-easy policy likely to stick after weak jobs report
WASHINGTON (Reuters) - The 266,000 jobs that U.S. firms added in April were "nowhere near" what was expected, a Federal Reserve official said Friday, and added little to the "substantial further progress" officials want to see before considering changes to monetary policy.
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Investors back off view that Fed could raise rates in late 2022
(Reuters) -U.S. investors who had been betting the Fed would raise rates as early as the end of next year abruptly retreated from those positions on Friday after a disappointing April employment report and now see the earliest the Fed might tighten roughly two years away.
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Yellen says U.S. debt ceiling could pinch in summer
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said on Friday the nation could exhaust its ability to borrow this summer even if Treasury takes "extraordinary actions" to buy more time when the nation's debt ceiling comes back into effect at the end of July.
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Analysis: Fund managers see value, cyclical stocks running further despite slow U.S. jobs recovery
NEW YORK (Reuters) - While some technology stocks got a boost Friday after a disappointing U.S. jobs report, some portfolio managers say that blow-out earnings from several large technology companies over the last few weeks are not enough to keep making outsized bets on the sector.
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U.S. Treasury releases $21.6 billion rental assistance, aims to aid renters directly
WASHINGTON (Reuters) - The U.S. Treasury Department on Friday said it has allocated an additional $21.6 billion for rental assistance under President Joe Biden's coronavirus rescue package, adding new rules aimed at assisting more renters directly.
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Ark Invest CEO Wood says Hwang provided seed capital for first four ETFs
(Reuters) - Celebrity stockpicker and Ark Invest Chief Executive Cathie Wood told CNBC on Friday that hedge fund veteran Bill Hwang had provided seed capital for Ark's first four exchange-traded funds.
