Most laid off tech workers are finding jobs shortly after beginning their search, a new survey shows, as employers continue to scoop up workers in a tight labor market. About 79% of workers recently hired after a tech-company layoff or termination landed their new job within three months of starting their search, according to a … Read more
SINGAPORE— Tesla Inc. suspended car production at its Shanghai plant on Saturday, extending a planned eight-day production halt at its largest worldwide plant by car output, according to people familiar with the matter. The decision to extend the work halt comes as Tesla faces a wave of Covid-19 infections among its workers and suppliers, the … Read more
Stocks fell Thursday after economic data pointed to a strong labor market and faster economic growth than previously thought. The S&P 500 tumbled 56.05 points, or 1.4%, to close at 3822.39. The Dow Jones Industrial Average fell 348.99 points, or 1%, to 33027.49. The technology-focused Nasdaq Composite lost 233.25 points, or 2.2%, to close at … Read more
A stock-market paradox, in which bad news about the economy is seen as good news for equities, may have run its course. If so, investors should expect bad news to be bad news for stocks heading into the new year — and there may be plenty of it. But first, why would good news be … Read more
We all make mistakes—but the Federal Reserve may be making a bigger one than most. That could mean another difficult year for the stock market in 2023. Those concerns were front and center this past week, following the Federal Open Market Committee’s December meeting. The Fed didn’t do anything to surprise the market as it … Read more
U.S. retail sales fell sharply in November as the holiday shopping season got under way, posting their biggest drop in nearly a year as inflation cooled. Sales at U.S. retail stores, online sellers and restaurants fell by a seasonally adjusted 0.6% in November from the previous month, the Commerce Department said Thursday. That was a … Read more
If Federal Reserve officials are having second thoughts about their anti-inflation fight, you sure couldn’t tell by Jerome Powell on Wednesday. The Fed Chairman donned his finest hawk feathers and said again and again at his press conference that the central bank hasn’t made enough progress getting prices under control and isn’t going to ease … Read more
Stocks wavered after producer-price data came in hotter than expected, disappointing investors who had hoped for signs of easing inflation before the Federal Reserve’s meeting next week. The S&P 500 was flat on Friday morning, while the Dow Jones Industrial Average lost 0.1%. The technology-focused Nasdaq Composite rose 0.2%. The producer-price index, which measures what … Read more
The November U.S. jobs report on Friday showed the U.S. economy gained 261,000 jobs last month, with the unemployment rate holding steady at 3.7%. Economists polled by the Wall Street Journal had expected an addition of 200,000 jobs. Wages jumped 0.6% in November, double the expected pace. Below are some initial reactions from economists and … Read more
Fed officials have warned in recent days that they are likely to lift rates to and hold them at levels high enough to slow economic activity and hiring to bring inflation down from 40-year highs. The employment report showed continued strong hiring and brisk wage growth, which is a source of concern to Fed officials … Read more