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Gold spikes as as 'epic' miss in April jobs report eases worries about a Fed rate hike

Gold prices picked up Friday. David Gray/Getty Images Gold prices climbed to their highest since early February on Friday following the April US jobs report. The gain of 266,000 jobs was well below expectations of 1 million jobs being added to payrolls. The data miss pushed Treasury yields lower, make gold more attractive to buy. See more stories on Insider's business page. Gold prices jumped Friday after the weak US monthly jobs report tamped down expectations of an interest-rate hi...
Tags: US, Trends, Gold, Markets, Bloomberg, Jobs Report, Treasury, Federal Reserve, Metals, Fed, Bullion, Labor Department, Jerome Powell, Carla Mozee, OANDA, Rate Hike


Beyond Meat slumps after the fake meat company reports a wider than expected loss for the 1st quarter

FILE - In this June 27, 2019, file photo a meatless burger patty called Beyond Burger made by Beyond Meat is displayed at a grocery store in Richmond, Va. Beyond Meat reports financial earns Monday, Oct. 28. (AP Photo/Steve Helber, File) Associated Press Beyond Meat shares tumbled 10% the company announced a wider than expected loss for the first quarter of 2021. Customers, including restaurants, bought less of their meat substitute, which they stockpiled during the height pandemic. This i...
Tags: China, US, Trends, Bloomberg, Netherlands, Reuters, Brown, El Segundo California, Ethan Brown, Isabelle Lee, Opening Bell Beyond Meat, Richmond Va Beyond Meat


The April jobs report shocks as 266,000 payroll additions badly miss the forecast of 1 million

A pedestrian walks by a now hiring sign at Ross Dress For Less store on April 2, 2021 in San Rafael, California. Justin Sullivan/Getty Images The US economy added 266,000 jobs in April, a huge miss of the median estimate of 1 million new payrolls. The unemployment rate rose to 6.1% from 6%, while economists had expected it to drop to 5.8%. The payrolls increase marks a fourth straight monthly gain, but the smallest since January. See more stories on Insider's business page. The US labo...
Tags: Congress, White House, US, Trends, Bloomberg, Joe Biden, Bureau of Labor Statistics, New York Times, Federal Reserve, Justin Sullivan Getty, San Rafael California, Ross Dress for Less, Atlanta Council, Ben Winck Madison Hoff, Josh Lipsky, GeoEconomics Center


Germany is not happy with Biden's support for waiving COVID-19 vaccine patents, predicting 'severe complications'

German Chancellor Angela Merkel. Getty Biden's support for waiving COVID-19 vaccine patents has had a mixed reaction from EU countries. A spokesperson for the German government said it would cause "severe complications," per Bloomberg. Experts have said lifting vaccine patents may not be that effective in easing global shortages. See more stories on Insider's business page. Germany pushed back Thursday against President Joe Biden's support for a patent waiver on COVID-19 vacci...
Tags: Politics, UK, Science, Germany, Angela Merkel, US, Trends, Eu, Bloomberg, Joe Biden, United States, News UK, European Commission, WTO, Vaccine, Biden


Dow soars 318 points to record high as investors weigh new economic-recovery data

Traders work on the floor at the New York Stock Exchange. Brendan McDermid/Reuters The Dow Jones Industrial Average pushed to a record high on Thursday. Stocks found support as fewer-than-expected Americans filed for jobless benefits. Home Depot, P&G and Apple were all up, helping the Dow push to fresh highs. See more stories on Insider's business page. The Dow Jones Industrial Average notched a new record high Thursday as stocks pegged to the reopening of the economy got a boost fr...
Tags: Apple, Home Depot, Microsoft, Etsy, US, Trends, Markets, Bloomberg, Treasury, Stocks, S&P 500, Dow Jones Industrial Average, Procter Gamble, Nasdaq Composite, Labor Department, Carla Mozee


Why just about everything costs more at grocery stores

By Leslie Patton | Bloomberg The higher prices food makers have been warning about for months have hit U.S. grocery carts. Seafood prices are up 18.7% on average in the 13-week period ended April 24, while baked goods like doughnut and rolls cost about 7.5% more than in the same period last year, new data from NielsenIQ show. In fact, 50 of the 52 categories tracked by the data provider are more expensive than a year ago, with only butter and milk holding essentially flat while everything around...
Tags: Business, News, Bloomberg, Sport, Soccer, Inflation, Ihop, Vons, Safeway, Applebee, Peyton, John Peyton, Vivek Sankaran, Albertsons Cos, Leslie Patton, Top Stories LADN


Stimulus Check Update: Is A Fourth Relief Payment In Your Future?

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Tags: Business, New York, News, Minnesota, Congress, Senate, Massachusetts, Elizabeth Warren, San Francisco, West Virginia, Bloomberg, Joe Biden, Cbs, Michigan, Republican, Biden


A top economist says everyone on Wall Street is underestimating the jobs rebound: 'What is everybody else not seeing?'

A man wearing a mask walks past a "now hiring" sign on Melrose Avenue amid the coronavirus pandemic on April 22, 2021 in Los Angeles, California. Alexi Rosenfeld/Getty Images Jefferies' estimate for April payroll growth is 2.1 million jobs, double the consensus forecast. Economist Aneta Markowska cited time-sheet data, jobless claims, and surveys for her bullish forecast. Reopening and stimulus will play a bigger role in the April report than in March, she added. See more stories on In...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, Federal Reserve, Jefferies, Fed, Los Angeles California, BLS, Census Bureau, Conference Board, Ben Winck, Markowska, Aneta Markowska, Alexi Rosenfeld Getty Images Jefferies, Markowska Jefferies


A top economist details why Friday's jobs report will be twice as strong as other experts think: 'What is everybody else not seeing?'

A man wearing a mask walks past a "now hiring" sign on Melrose Avenue amid the coronavirus pandemic on April 22, 2021 in Los Angeles, California. Alexi Rosenfeld/Getty Images Jefferies' estimate for April payroll growth is 2.1 million jobs, double the consensus forecast. Economist Aneta Markowska cited time-sheet data, jobless claims, and surveys for her bullish forecast. Reopening and stimulus will play a bigger role in the April report than in March, she added. See more stories on In...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, Federal Reserve, Jefferies, Fed, Los Angeles California, BLS, Census Bureau, Conference Board, Ben Winck, Markowska, Aneta Markowska, Alexi Rosenfeld Getty Images Jefferies, Markowska Jefferies


'What is everybody else not seeing?' One top economist details why Friday's jobs report will double the average forecast - and explains why she's comfortable being an outlier

A man wearing a mask walks past a "now hiring" sign on Melrose Avenue amid the coronavirus pandemic on April 22, 2021 in Los Angeles, California. Alexi Rosenfeld/Getty Images Jefferies' estimate for April payroll growth is 2.1 million jobs, double the consensus forecast. Economist Aneta Markowska cited time-sheet data, jobless claims, and surveys for her bullish forecast. Reopening and stimulus will play a bigger role in the April report than in March, she added. See more stories on In...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, Federal Reserve, Jefferies, Fed, Los Angeles California, BLS, Census Bureau, Conference Board, Ben Winck, Markowska, Aneta Markowska, Alexi Rosenfeld Getty Images Jefferies, Markowska Jefferies


Peloton will face investors one day after it recalled thousands of treadmills. Here are the top questions executives will face.

Peloton Peloton recalled its treadmills on Wednesday, following pressure from federal regulators. The company is set to hold its quarterly earnings call Thursday, one day after the recall. Executives are likely to face questions about the long-term financial and reputational impact. See more stories on Insider's business page. Peloton recalled more than 125,000 treadmills on Wednesday, sending the company's stock price plummeting.On Thursday, executives will face questions from an...
Tags: News, US, Trends, Bloomberg, Customers, Retail, Jp Morgan, Jpmorgan, Foley, John Foley, CPSC, Peloton, US Consumer Product Safety Commission, Tech Insider, Peloton Peloton, Tread


SEC chief Gary Gensler says 7 factors were behind the GameStop frenzy, and rules may need to be updated to address new market dynamics

Former Commodity Futures Trading Commission Chairman Gary Gensler testifying before the Senate Banking, Housing and Urban Affairs Committee on July 30, 2013. Photo by Chip Somodevilla/Getty Images SEC chair Gary Gensler outlined his concerns around the GameStop episode in prepared remarks to Congress Thursday. He highlighted seven factors he believed were at play amid the mania that roiled the market in January. Among the factors Gensler pointed to were the gamification of trading, payment...
Tags: UK, Congress, US, Trends, Bloomberg, Canada, Commission, Reddit, SEC, Goldman Sachs, Robinhood, Gamestop, Vlad Tenev, Gensler, MIT Sloan School of Management, Gary Gensler


Amazon policies for delivery drivers reportedly include rules on body odor, personal grooming, and social media restrictions

Dinendra Haria/SOPA Images/LightRocket via Getty Images Amazon contracts delivery drivers through smaller local companies. The companies provides the companies with a set of rules for the drivers that include grooming stipulations, Bloomberg reported. In the past, Amazon has been criticized for its in-car monitoring equipment for delivery drivers. See more stories on Insider's business page. Amazon work rules regulate delivery drivers' personal grooming and social media habits, a...
Tags: Amazon, News, US, Trends, Bloomberg, Amazon Prime, E-commerce, Retail, DSP, Fedex, McDonald, Tech Insider, GETTY IMAGES Amazon, Dinendra Haria SOPA Images LightRocket, Amazon delivery drivers, Grace Kay


US weekly jobless claims fall below 500,000 for the first time since pandemic lockdowns began

People line up outside Kentucky Career Center prior to its opening to find assistance with their unemployment claims in Frankfort, Kentucky, June 18, 2020. Bryan Woolston/Reuters US initial jobless claims sank to a pandemic-era low of 498,000 last week, a fourth straight decline. Economists expected claims to fall to 538,000. The previous week's reading was revised higher to 590,000. Continuing claims rose to 3.69 million for the week that ended on April 24. See more stories on Insider...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, ADP, Labor Department, Frankfort Kentucky, Kentucky Career Center, Bryan Woolston Reuters US, Ben Winck Andy Kiersz


US stocks trade mixed as investors weigh jobless-claims data

Bryan R Smith/Reuters US stocks were mixed Thursday, with the Dow Jones Industrial Average coming off a record-high close. Fewer Americans than expected filed for jobless benefits last week. Shares of Moderna and other vaccine makers were under pressure. See more stories on Insider's business page. US stocks edged higher Thursday as weekly jobless claims suggested there's been a further recovery in the labor market from the COVID-19 pandemic, with the snapshot arriving ahead th...
Tags: US, Trends, Markets, Bloomberg, Economy, Stocks, West Texas Intermediate, Pfizer, Biden, S&P 500, Dow Jones Industrial Average, Nasdaq Composite, Labor Department, Carla Mozee, Moderna, BioNtech


Amazon just became another company's healthcare provider

Hello,Welcome to Insider Healthcare. I'm Blake Dodge, and today in healthcare news:Amazon Care has its first client;Startups are betting on a new Medicare program;Vida Health grabs $110 million from General Atlantic and other investors.If you're new to this newsletter, sign up here. Comments, tips about big tech-in-healthcare? Email me at [email protected] or tweet @dodgeblake. Amazon Care Amazon just signed its first employer client for its medical-care business Amazon'...
Tags: Google, Amazon, US, Trends, Bloomberg, Healthcare, Medicare, General Atlantic, Cvs, Blake, Newsletters, VIDA, Precor, Moderna, Cigna Humana, Karen Lynch


Politicians, union groups slam Elon Musk over taxes after he tweets asking for sketch ideas for his 'SNL' appearance

Elon Musk, the CEO of Tesla and SpaceX. Britta Pedersen-Pool/Getty Images Elon Musk's critics piled on after he tweeted asking for skit ideas for his coming "SNL" appearance. Politicians, unions, and journalists on Twitter asked him to pay more taxes and donate his wealth. Musk's ideas for his sketch included "Woke James Bond," "Irony Man," and "Baby Shark Tank." See more stories on Insider's business page. Politicians and unions criticized Elon Musk after the CEO of Tesla and ...
Tags: Twitter, Spacex, Elon Musk, Trends, Tesla, Bloomberg, New York Times, Donald Trump, National Labor Relations Board, Musk, Public Citizen, Pramila Jayapal, Marianne Williamson, Max Berger, The Service Employees International Union, Kate Duffy


Politicians, union groups slam Elon Musk over tax after he tweets asking for sketch ideas for his SNL appearance

Elon Musk, CEO of Tesla and SpaceX. Britta Pedersen-Pool/Getty Images Elon Musk's critics piled on after he tweeted asking for skit ideas for his SNL appearance on May 8. Politicians, unions, and journalists on Twitter called on him to pay more tax, donate his wealth, and let staff unionize. Musk's ideas for his sketch included "Woke James Bond," "Irony Man," and "Baby Shark Tank." See more stories on Insider's business page. Politicians and unions criticized Tesla and SpaceX C...
Tags: Twitter, Spacex, Elon Musk, Trends, Tesla, Bloomberg, New York Times, Donald Trump, National Labor Relations Board, Musk, Public Citizen, Pramila Jayapal, Marianne Williamson, Max Berger, The Service Employees International Union, Kate Duffy


Google 'arguably violated' labor law when it fired employees involved in unionizing, says NLRB chief

The National Labor Relations Board has said Google "arguably violated" US labor laws when it fired three employees involved in unionizing. REUTERS/Stephen Lam Google 'arguably violated' labor laws when it fired employees involved in unionizing activity. NLRB chief Peter Sung Ohr accused the tech giant of 'unlawfully discharging' three ex-Googlers. But Google insists the company remains 'very confident' in its legal position. See more stories on Insider's busi...
Tags: Google, Technology, US, Trends, Bloomberg, Joe Biden, National Labor Relations Board, Nlrb, Labor Law, Trump, National Labor Relations Board NLRB, Waldman, Spiers, OHR, Tech Insider, Peter Robb


Luxury real estate prices around the world are rising at their fastest rate since 2017 - and Asian cities are leading the charge

Shenzhen Futian skyline panorama. LIAO XUN / Getty Images Luxury real estate prices are on the rise, according to a new Knight Frank report. Five of the ten cities recording the highest luxury real-estate price growth are in Asia. The Chinese cities of Shenzhen, Shanghai, and Guangzhou took the top three spots. See more stories on Insider's business page. Luxury real-estate prices are on the rise, particularly in Asia.A new report released by global property consultancy Knight Frank fo...
Tags: Asia, Hong Kong, London, China, Los Angeles, Trends, Bloomberg, Luxury, Shanghai, Silicon Valley, Huawei, Seoul, Shenzhen, Julius Baer, Guangzhou, APAC


Bill Gates transferred stock worth about $2.4 billion to Melinda Gates on the same day they announced their divorce

Melinda and Bill Gates. Michel Euler/AP Images Tech billionaire Bill Gates transferred stock in two of Mexico's largest companies to Melinda Gates. He also split up stakes in a Canadian railway company and America's largest automotive retailer. They hadn't signed a pre-nup, but are splitting property and debts under a "separation contract." Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bill Gates moved stock worth nearly $2.4 billion to Melinda Gates...
Tags: Amazon, Microsoft, Mexico, US, America, Trends, Bloomberg, Canada, Bill Gates, AutoNation, SEC, Bill, Jeff Bezos, Coca Cola, Melinda Gates, Cascade


US stocks close mixed with tech lower as traders weigh economic-recovery data

In this May 13, 2020, file photo, Ford Motor line workers put together ventilators that the automaker is assembling at the Ford Rawsonville plant in Ypsilanti Township, Mich. AP Photo/Carlos Osorio, File US stocks close mixed as traders weigh economic recovery data against inflationary concerns. Shares of Moderna and Pfizer also slipped after the US said it will support a proposal to waive intellectual property protections for coronavirus vaccines. Oil prices snapped a two-day winning str...
Tags: Europe, US, Trends, Bloomberg, Pfizer, Biden, Ford Motor, ADP, Nela Richardson, US Consumer Product Safety Commission, Moderna, OANDA, Ethereum Vitalik Buterin, Weyerhauser, Edward Moya, Peloton Interactive


The American worker had been earning less throughout the pandemic. That ended in March.

A restaurant worker wears a protective face mask and gloves in midtown as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 13, 2020 in New York City. Noam Galai/Getty Images US wages went into pandemic-related decline in March 2020, and exceeded that level in March 2021, per BLS data The indicator is the latest to surpass past highs as stimulus and reopening power the US rebound. The boost was driven by stronger wage growth...
Tags: US, Trends, Bloomberg, Bureau of Labor Statistics, ADP, Nela Richardson, Ben Winck Andy Kiersz, New York City Noam Galai Getty Images US, Bureau of Economic Analysis Employee


UBS chairman apologizes for Archegos loss and promises to enforce more transparency

Swiss bank UBS Chairman Axel Weber speaks during the company's general shareholders meeting in Zurich on May 2, 2013. REUTERS/Ruben Sprich UBS chairman apologized for the loss the Swiss bank suffered amid the Archegos meltdown, in an interview with Bloomberg. Chairman Axel Weber blamed the lack of oversight particularly in family offices, which don't have to disclose information about investments. Weber said UBS is conducting an internal investigation into the fiasco. Sign up here...
Tags: Trends, Bloomberg, Ubs, Morgan Stanley, Zurich, Weber, Bloomberg TV, Axel Weber, US Securities and Exchange Commission, Hwang, Ruben Sprich, Isabelle Lee, Archegos, Archegos Capital Management, Bill Hwang, Things Before the Opening Bell UBS Group


Luxury gym chain Equinox is in talks to go public via merger with Chamath Palihapitiya-backed SPAC

Photo by Alexi Rosenfeld/Getty Images Equinox Holdings is in talks to go public via a SPAC merger with Chamath Palihapitiya's Social Capital Hedosophia, according to a Bloomberg report.A potential transaction could value Equinox at more than $7.5 billion, the report said.The luxury gym operator also owns SoulCycle, BlinkFitness, and opened its first hotel in 2019.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Equinox Holdings is in talks to go public via a mer...
Tags: Finance, Ipo, New York City, Trends, Markets, Bloomberg, SEC, Stock Market, Chamath Palihapitiya, Equinox, SPAC, Social Capital, Matthew Fox, Palihapitiya, Social Capital Hedosophia, SPACs


Rental car companies are turning to used car auctions to regrow fleets amid a massive shortage sending prices skyrocketing

A Hertz car rental location in New Jersey in May 2020. AP Photo/Ted Shaffrey, File There's a rental-car shortage in the US that's causing fleets to be booked out or booked at high prices. Companies are scrambling to regrow fleets amid high used and new car prices caused by the chip shortage. For rental companies like Hertz, this means turning to avenues like car auctions. See more stories on Insider's business page. The massive rental-car shortage is causing vehicle rental comp...
Tags: US, Trends, Bloomberg, Hawaii, New Jersey, Deutsche Bank, Volkswagen, Hertz, Hyundai, Puerto Rico, Gdansk Lech Walesa Airport, Ford GM, IHS Markit, Maryann Keller, Brittany Chang, Mateusz Slodkowski


US private payrolls climb by 742,000 in April as labor market strengthens, ADP says

People walk through downtown Brooklyn on May 3, 2021 in New York City. Spencer Platt/Getty Images The US gained 742,000 private payrolls in April, ADP said in its monthly employment report. The reading marks a fourth straight monthly climb but is below economists' 873,000-payroll estimate. The report backs up forecasts of strong hiring from reopening and vaccination in the last month. See more stories on Insider's business page. The US private sector saw hiring accelerate through A...
Tags: US, Trends, Bank Of America, Bloomberg, Joe Biden, Bureau of Labor Statistics, Brooklyn, Ubs, ADP, Fed, Richardson, Nela Richardson, Jerome Powell, Ben Winck, New York City Spencer Platt Getty


Tech leads a US stock rebound amid encouraging signs of a labor-market recovery

Maskot/Getty Images Technology shares led the rebound in US stocks Wednesday amid further signs of a labor-market recovery. The US private sector saw hiring accelerate through April, according to ADP's monthly employment report. Dogecoin continued its red-hot rally, rising more than 40% to a new all-time high near $0.70. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Technology shares led the rebound in US stocks Wednesday amid encouraging signs of a labor...
Tags: Amazon, Europe, Elon Musk, US, Trends, Bloomberg, Atlantic, Treasury, Janet Yellen, Federal Reserve, Biden, ADP, Nela Richardson, Mike Novogratz, Dogecoin, Apple Tesla


Reddit's WallStreetBets members were targeted in a scam that reaped Binance coins worth $2 million through Telegram, report says

Dado Ruvic/Reuters Crypto traders were scammed out of Binance coins worth around $2 million through Telegram, Bloomberg reported. A Telegram account that seemed to be linked to Reddit's WallStreetBets offered a new WSB token to users. This is the latest in a series of crypto scams that have cost investors millions. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. A Telegram account that seemed to be linked to Reddit's WallStreetBets forum, but is not act...
Tags: Trends, Bloomberg, Reddit, Crypto, UK s Financial Conduct Authority, Bloomberg Investors, Dado Ruvic Reuters Crypto, WallStreetBets, Sophie Kiderlin, Telegram Bloomberg, WSB Finance, WallStreetBets Crypto Pumps


Here are 6 finance giants, including Deutsche Bank and Citigroup, which are embracing a hybrid work model as staff return to work

Deutsche Bank CEO Christian Sewing (left) and JP Morgan CEO Jamie Dimon (right). DANIEL ROLAND/AFP via Getty Images Global banks and asset managers are turning to a hybrid work model as staff return to their offices. Vanguard is the latest to announce the most of its staff can mix working from home and in the office. Deutsche Bank, HSBC and Lloyds are also embracing a more flexible model. See more stories on Insider's business page. Vanguard Vanguard Group's former Chief ...
Tags: New York, London, Germany, Trends, Canary Wharf, Bloomberg, Pennsylvania, Jp Morgan, Citigroup, Deutsche Bank, Guardian, Quinn, Lloyds, Wall Street Journal, Jamie Dimon, Vanguard



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