![]() Click to get this free reportīristol Myers Squibb Company (BMY) : Free Stock Analysis Report Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. ![]() CAH rose 0.7% after the company posted second-quarter fiscal 2023 adjusted earnings per share of $1.32, beating the Zacks Consensus Estimate of $1.13. PH advanced 2.7% after posting second-quarter fiscal 2023 adjusted earnings per share of $4.76, exceeding the Zacks Consensus Estimate of $4.45. Wages rose 4.6% over last year in December.Īlexandra Semenova is a reporter for Yahoo Finance.Meta Platforms Inc.’s META shares soared 23.3% after the company reported fourth-quarter 2022 adjusted earnings per share of $3.00, surpassing the Zacks Consensus Estimate of $2.12.īristol-Myers Squibb Co.’s BMY shares gained 2.2% after reporting fourth-quarter 2022 adjusted earnings per share of $1.82, outpacing the Zacks Consensus Estimate of $1.71. Employment in the sector remains 495,000 jobs, or 2.9% short of its pre-pandemic February 2020 level but is steadily narrowing.Įmployment in professional and business services rose by 82,000 jobs, while health care added 58,000 jobs in January.Įditor's note: An earlier version of this story misstated average hourly earnings growth in December as having risen 4.3% over the prior year. Leisure and hospitality, one of the industries hardest hit by the pandemic, continued its strong recovery, with employers adding 128,000 jobs in January. Gains were widespread across industries, with the largest increases seen across leisure and hospitality, professional and business services, and health care. The labor force participation rate ticked up to 62.4%. On an annual basis, wages rose 4.4% in January, a slightly slower pace from 4.6% in December. "It’s difficult to see how wage pressures can possibly soften sufficiently when jobs growth is as strong as this and it’s even more difficult to see the Fed stop raising rates and entertain ideas of rate cuts when there is such explosive economic news coming in," Shah added.Īverage hourly earnings rose by 0.3%, on par with the monthly increase in December. "Is Fed Chair Jerome Powell now wondering why he didn’t push back on the loosening in financial conditions?" Nobody would have expected a number as monstrous as this!" Principal Asset Management chief global strategist Seema Shah said in a note. (Photo by Kevin Dietsch/Getty Images) (Kevin Dietsch via Getty Images) central bank delivered its latest interest rate hike, Fed Chair Jerome Powell said the labor market continues to be out of balance, and that reducing inflation is likely to require a period of below-trend growth and some softening of labor market conditions.įederal Reserve Board Chairman Jerome Powell speaks at a news conference on Februin Washington, DC. Stocks pared some losses early into the session on Friday but remained in red figures. stock futures fell following the release as the latest data defied investor optimism the Federal Reserve may pause its interest rate-hiking campaign in coming months. Friday's data shows that even with these moves, the U.S. The Federal Reserve has raised interest rates by 450 basis points, or 4.5%, since March 2022 in an effort to slow the economy and rein in inflation. The blowout figures come just as the employment picture began to show some signs of moderation, with monthly data on a downtrend in recent months before January's outlier report. ![]() The unemployment rate slipped to 3.4% in January, the lowest since 1969. Friday's shock numbers mark a sharp jump from the prior month, which saw payrolls rise by an upwardly revised 260,000.
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