All because of an announcement that it will cut 400 jobs from its marketing unit, one third of the Marketing Department globally. This happened according to an email from the ceo earlier today. Is also falling close to about 4 . The coo is leaving. Said theyders of lyft would not ira replacement ends not higher a replacement and instead delegate the responsibilities. Largely expected the fed will cut rates. Theres a 20 chance they could cut by 50. Lets look at a pretty interesting chart that goes back five years. In blue, the fed funds future yield. In white, the s p 500. Correlatedtwo were until this year with the feds pivot. We also see the fed funds future yield also possibly bottoming out which suggests jay powell has a delicate task ahead to keep both bond and stockholders happy. You see the big divergence there, that if yields were to should backup, it may take a bite out of the rally. Romaine beyond meet, one of the most popular companies, reporting earnings. It looks like it di
Growth overseas. And a promise and a warning. Talking about Nuclear Weapons and at the 2015 Iranian Nuclear deal. Lets get started with a check of markets. We saw the s p. , 500 fall for a second consecutive session, and finish below the 3000 level. Industrials leading the declines. The dow also down 4 10 of 1 . We have the dow transportation average, a gauge of economic growth, sinking at one point to its lowest since december. A mixed bag of corporate earnings, not to mention lingering trade tensions between the u. S. And china. Unchanged. Lets look at how things are shaping up for the asian market. Looking quiet on the trading front. Volumes likely to continue in asia, futures pointing lower. Stocks adding about 1 10 of 1 . Central banks and earnings will be top of mind. The jury is out on the bank of indonesia, cutting rates today into the chip sector is on watch, following earnings from asml that got a boost in 5g. And also on tap, japanese trade numbers that may show weakness eas
Surprise profit and Record Services revenue, but says weakness in pc and ipad could continue to drag down sales. And amazon shares rallying after reporting blowout profits beating on sales and the company issuing optimistic guidance as well interesting internals in the jobs report this morning 187,000. Unemployment, 3. 5 average Hourly Earnings, a touch hot, but the workweek shrank, mike, so total weekly pay, below expectations i think it all nets out to consistent with a slowing but still tight labor market and a relatively soft landing for the economy. You did have those downward revisions, so decelerating but also lower Unemployment Rate implies just not a huge supply of idle workers to draw from here the main market kind of bank shot on this is what does it mean for treasury yields thats been the story all week you have had longer term yields really going higher, not much because of repricing what the fed is going to do, but just in general, a lot of dynamics pushing in that direct
The hearing is two hours and 20 minutes. Chair Wyden Finance Committee will come to order. Today the Committee Meets to discuss tax Filing Season, which closed yesterday. I think thank commissioner werfel for being here at a busy time for everybody in the agency. There are lots of issues to discuss, and one that certainly is important to the American People is direct file. Anyone who denies that the direct file was a huge success, my guess is just living in another universe. It is open to a fairly small percentage of taxpayers, but the reviews it got from its initial users were overwhelmingly positive. It seems like a whole lot of people were very stunned that a federal agency, particularly one as frequently vilified as the irs, was able to build a helpful website that works. Tens of thousands of taxpayers who use direct file this year collectively save millions on fees that they wouldve paid to one of the tax software giants. Website is userfriendly. It is quick and easy to use and di
The hearing is two hours and 20 minutes. Chair Wyden Finance Committee will come to order. Today the Committee Meets to discuss tax Filing Season, which closed yesterday. I think thank commissioner werfel for being here at a busy time for everybody in the agency. There are lots of issues to discuss, and one that certainly is important to the American People is direct file. Anyone who denies that the direct file was a huge success, my guess is just living in another universe. It is open to a fairly small percentage of taxpayers, but the reviews it got from its initial users were overwhelmingly positive. It seems like a whole lot of people were very stunned that a federal agency, particularly one as frequently vilified as the irs, was able to build a helpful website that works. Tens of thousands of taxpayers who use direct file this year collectively save millions on fees that they wouldve paid to one of the tax software giants. Website is userfriendly. It is quick and easy to use and di