Author: starbpo

The numbers: According to ADP, the payroll company, U.S. businesses added 233,000 new jobs in October, which was the biggest gain in 15 months. This suggests that the job market is a bit better than was thought before. In October, the ADP asked economists and found that they thought the economy would add 113,000 new jobs. The official government jobs number that comes out a few days later is not very good at predicting what ADP will say, though. Each report goes in the same way over time. A poll of economists by the Wall Street Journal says that the…

The giving back: As it did last quarter, the Treasury Department said on Wednesday that it would sell $125 billion in notes and bonds next week. This offering will pay back $116.4 billion in notes that are due on November 15 and bring in about $8.6 billion in new cash. On November 4, the government will sell $58 billion in 3-year notes TMUBMUSD03Y4.100%, and on November 5, it will sell $42 billion in 10-year notes TMUBMUSD10Y4.264%. There will also be a sale of $25 billion in 30-year bonds by the government on November 6. Important facts: Treasury said in a…

When the incumbent party wins, the Dow’s average return between Election Day and Inauguration Day is 4.4%, in contrast to an average loss of 2.0% when the incumbent party loses. Get ready for the U.S. stock market to have a rough time after the election. There’s no reason for this except that the 2024 presidential election is not likely to be settled quickly and only after a time of intense uncertainty. This is because, over the long term, U.S. stocks usually do worse than average after Election Day. Based on Dow Jones Industrial Average DJIA -0.36% returns going back to…

You might think that getting an email from your broking about what the election means for your money is about as personal and emotional as getting birthday wishes from your dentist’s office. But you should pay attention to what the biggest money managers say and don’t say about how the election could affect your retirement savings and the economy as a whole. Together, the big broking firms are in charge of trillions of dollars. Most workers are affected by these firms in some way, as they are the providers of their 401(k) plans and the places where they keep their…

The benchmark 10-year Treasury yield stayed just over 4.3% for most of Tuesday’s session after the bond market sold off early in the day. This is a level that stocks have had a hard time adjusting to over the past year. Adam Turnquist, chief technical analyst for San Diego, Calif.-based LPL Financial, says that any rate above 4.3% on the 10-year bond is “a line in the sand for stocks” and a level of resistance that goes back to October 2022. A rise above this level “seems to be pretty hard for the stock market to handle.” Like, in early…

Mortgage applications went down when the 30-year rate went back to its high point in the summer. A group of mortgage bankers say the 30-year rate has been going up for four weeks in a row and is now at its highest level since July. The price went up because the bond market was unstable, people were worried about the result of the election, and no one knew what the Federal Reserve would do at its next meeting regarding its interest-rate policy. The market composite index, which shows the number of mortgage applications, showed less action last week because of…

Job hunters, now might be a good time to make your page look better. MSFT 1.26% is Microsoft. LinkedIn launched a new AI hiring tool on Tuesday that can make job requirements lists, look through profile pages, and suggest users to managers as possible “top candidates” for new job openings. The technology, which is called Hiring Assistant, can tell recruiters about LinkedIn users based on their location, skills, and other qualities that the recruiter is looking for, officials said. More than one message can be sent to those people, and simple pre-screening questions can even be taken care of. This…

The recent surge in mortgage rates is a clear indication [of] what investors believe a Trump victory would mean for the economy and the nation’s fiscal outlook. In a post on the social media site X on Tuesday morning, that was chief economist at Moody’s Analytics MCO -0.35% Mark Zandi. Republicans have called Zandi “Democrats’ favourite economist.” He said that the fact that the average 30-year mortgage rate hit 7% on Monday showed that investors think Republican nominee Donald Trump will win the election on November 5 and that they think a second Trump presidency would lead to higher inflation…

The Mexican fast-casual chain Chipotle Mexican Grill Inc. reported weaker-than-expected quarterly sales trends and said that trying to offer more uniform portion sizes had caused costs to rise. This caused shares of the company to fall after hours on Tuesday. After Brian Niccol left to work for Starbucks Corp. SBUX -0.64%, Scott Boatwright took over as temporary CEO of Chipotle. The results came in as Chipotle tries to find faster ways to process orders for burritos, tacos and bowls in the midst of a fast-food discount war. Still, the chain said that demand was still strong across all of its…

Elon Musk is the (almost) $500 billion man. The phrase “Rockefeller Rich” still seems more natural, but according to Forbes’ most recent ranking, Elon Musk is now the richest person in history. With the help of the surge in Tesla (TSLA) stock, Forbes’ latest estimate on Wednesday placed Musk’s net worth beyond $500 billion. However, by the end of business, the volatile executive’s fortune had dropped to $499.1 billion. In any case, Musk is now seen as having surpassed John D. Rockefeller. According to Harvard Business School, Rockefeller’s 1937 $1.4 billion fortune was equivalent to 1.5% of GDP. Musk’s wealth…