America's Top Crypto Expert's Next Big Prediction

Juan Villaverde used his crypto timing model to call every bull and bear market in crypto since 2012. Now his model is alerting him to the next set of coins with huge potential, all thanks to a massive shift inside the world of crypto.

Final jobs report before election will likely offer a blurred view of labor market

PAUL WISEMAN
November 01, 2024

WASHINGTON (AP) -- Americans on Friday will get their last major look at the state of the U.S. economy -- the October jobs report -- just four days before Election Day. The view, though, is likely to be obscured by the effects of strikes and hurricanes that left many workers temporarily off payrolls.

The Labor Department is expected to report that employers added just under 118,000 jobs last month, according to forecasters surveyed by the data firm FactSet. That would be a decent if hardly spectacular gain. But it would mark a sharp drop from the unexpectedly strong 254,000 jobs that the economy added in September.

Economists have cautioned, though, that Hurricanes Helene and Milton, combined with ongoing strikes, including one by machinists at Boeing, had the effect of pushing down net job growth in October. Lydia Boussour, a senior economist at the tax and consulting firm EY, said she expects the government to report that just 70,000 jobs were gained in October. By her calculations, the hurricanes and the strikes combined to subtract as many as 111,000 jobs from payrolls last month.

"The October jobs report will be muddied,'' Boussour wrote in a commentary. "We believe the true underlying pace of job growth was likely around 170,000 in October." At the same time, the unemployment rate is expected to stay at a low 4.1%, according to the FactSet survey.

By any measure, such figures are those of a healthy job market -- not quite as robust as it was early this year but still solid and steady. Combined with an inflation rate that has tumbled from its 2022 peak to near pre-pandemic levels, the overall economy appears on solid footing on the eve of Election Day.

Economists have noted, too, that the United States has the strongest of the world's most advanced economies, one that has proved surprisingly durable despite the pressure of high interest rates. This week, for example, the government estimated that the economy expanded at a healthy 2.8% annual rate last quarter, with consumer spending -- the heart of the economy -- helping drive growth.

Yet as voters choose between former President Donald Trump and Vice President Kamala Harris, large numbers of Americans have said they are unhappy with the state of the economy. Despite the plummeting of inflation, many people are exasperated by high prices, which surged during the recovery from the pandemic recession and remain about 20% higher on average than they were before inflation began accelerating in early 2021.

The blurriness of the October jobs data could lead some Republican political figures to once again question the credibility of the government's employment figures, especially if they turn out stronger than economists expect. Sen. Marco Rubio, for example, a Florida Republican who is a onetime Trump critic turned unabashed supporter, has baselessly claimed that the surprisingly strong September jobs report was "fake.''

Yet no mainstream economists share such skepticism. And other economic barometers, like the number of people seeking unemployment benefits -- data that is compiled mostly by the states -- also point to a still-solid job market.

With inflation having significantly cooled, the Federal Reserve is set to cut its benchmark interest rate next week for a second time and likely again in December. The Fed's 11 rate hikes in 2022 and 2023 managed to help slow inflation without tipping the economy into a recession. A series of Fed rate cuts should lead, over time, to lower borrowing rates for consumers and businesses.

In the meantime, there have been signs of a slowdown in the job market. This week, the Labor Department reported that employers posted 7.4 million job openings in September. Though that is still more than employers posted on the eve of the 2020 pandemic, it amounted to the fewest openings since January 2021.

And 3.1 million Americans quit their jobs in September, the fewest in more than four years. A drop in quits tends to indicate that more workers are losing confidence in their ability to land a better job elsewhere.

Continue Reading...

Popular

Five 2026 vehicles you should absolutely wait for

Don’t buy that new car yet. If you can wait, you’ll have new 2026 model year options that aren’t out yet. Although some models barely change, others are completely redesigned and often get the latest features and improvements. Whether you’re interested in improved fuel economy, cutting-edge technology, or maybe just fresh and distinctive styling, there’s likely a car on the horizon that you’ll be interested in. To ensure you don’t miss out on the latest and greatest, the car experts at Edmunds highlight five vehicles you should consider waiting for.

Trump's $300 Million White House Ballroom Could Soon Bear A Very Familiar Name

President Donald Trump is reportedly planning to name his new $300 million White House ballroom after himself.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Cathie Wood Dumps $3.7 Million Of Palantir Stock Despite AI Boom — Here's What She's Buying Instead

Ark Invest boosted positions in Qualcomm and BYD, while trimming Palantir and Shopify. Ark also acquired shares of China's BYD despite recent recall.

3 Communication Stocks Making Big Moves On Value Metrics

Three communication service stocks posted sharp gains in Benzinga's value rankings this week, highlighting renewed investor interest in the sector. Here's what investors need to know.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Jim Cramer Warns 'Don't Be Fooled' Because Speculators In Gold, Quantum And Nuclear Energy Aren't Going Down 'Without A Fight'

Former hedge fund manager and renowned CNBC TV host Jim Cramer is sounding the alarm on certain speculative pockets of the market, urging investors to sell into the "snapback" momentum if they haven't already done so.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after January 29, it may be too late.

The stock market is breaking records. Time for a gut check

NEW YORK (AP) — Almost everything in your 401(k) should be coming up a winner now. That makes it time for a gut check.

Taiwan Didn't Steal US Chip Jobs, It Helped Create Them, Says Tech Insider

Taiwan Semiconductor Manufacturing Co stands at the heart of global chip production, powering US tech giants and fueling growth.

On November 18, a powerful new law signed by President Trump will trigger a radical shift in America's money system... - Ad

When a small group of private companies - not the Fed - will perform a major mint of a new kind of money. And those who act before this new system fully kicks in could see gains as high as 40X by 2032. But those who fail to prepare will be blindsided by this sea change to the U.S. dollar.

Eli Lilly's Oral Weight Loss Drug Shows Superiority Over Two Approved Drugs

Orforglipron meets key endpoints in Phase 3 trials, showing A1C reduction, weight loss, and cardiovascular benefits for type 2 diabetes.

2,000 mink released from Iowa farm in what trade group calls 'terrorist act'

One or more intruders broke into an Iowa mink farm and released 2,000 of the furbearing animals in what a trade group called a “terrorist act” under federal law.

The Tesla Shock Nobody Sees Coming - Ad

While headlines scream "Tesla is doomed"...Jeff Brown has uncovered a revolutionary AI breakthrough buried inside Tesla's labs. One that is helping AI escape from our computer screens and manifest itself here in the real world all while creating a 25,000% growth market explosion starting as early as January 29.

FDA says drugmakers have recalled a blood pressure medicine tainted with a cancer-causing chemical

The U.S. Food and Drug Administration says drugmakers have recalled more than a half-million bottles of the blood pressure medication prazosin hydrochloride over concerns it may include a cancer-causing chemical.

November 18 Changes the Microchip Game - and Investing - Ad

George Gilder-dubbed "America's #1 Futurist"-says while everyone's chasing AI, the real opportunity is in a 4-nanometer tech millions of times more complex. It's not another chip - it replaces them. Now built in Arizona, Gilder says 3 companies tied to this "super-convergence" could soar.

Tech Stocks Drop, Netflix Sinks 10% On Worst Day Since 2022: What's Moving Markets Wednesday?

Risk sentiment deteriorated sharply on Wednesday as a wave of disappointing earnings guidance and escalating U.S.-China trade tensions rattled investor confidence.

Elon's $25 Trillion Confession - Ad

Elon Musk: "Tesla will become a $25 trillion company." That would make Tesla 8x bigger than Apple today. How is that possible? He admits it's all thanks to this one AI breakthrough that will take AI out of our computer screens and manifest a 250x boom here in the real world.

Bloom Energy Stock Surges Nearly 17% In Wednesday Pre-Market: What's Going On?

Shares of Bloom Energy Corp soared 18.68% in pre-market trading on Wednesday as third-quarter results surpassed analyst estimates.

Samsung reports 32% rise in operating profit, predicts continued AI-related growth

SEOUL, South Korea (AP) — Samsung Electronics on Thursday reported a 32.5% increase in operating profit for the third quarter, driven by rebounding demand for its computer memory chips, which the company expects will continue to grow on the back of artificial intelligence.

November 18: D-Day For The Dollar - Ad

A quiet shift in U.S. law has just authorized private companies to mint a new form of government-authorized money called the "Dollar 2.0"... and the next major mint hits on November 18. Investors who make the right moves before then could make up to 40X by 2032...

Texas Instruments Stock Is Tumbling Today: Here's Why

Texas Instruments shares are trading lower on Wednesday after the company issued fourth-quarter earnings and revenue guidance below analyst estimates.

IonQ Shares Are Trading Lower Monday: What's Going On?

IonQ shares were trading higher Monday but have since reversed and began trading lower.

The 7 Red Flags Wall Street Won't Talk About - Ad

All 7 historic crash signals are flashing red. Once the public notices, it's too late. Our free Bellwether Signal explains how to protect wealth - and why gold and silver have been the refuge in every crisis. Don't let your retirement go over a cliff.

Dogecoin's $0.21 Problem: Why This Analyst Says Keep It On Your Radar

On Monday, social media influencer Ali Martinez, known popularly on X as Ali, drew the attention of the crypto community to an important resistance level for Dogecoin (CRYPTO: DOGE).

America's Top Crypto Expert's Next Big Prediction - Ad

Juan Villaverde used his crypto timing model to call every bull and bear market in crypto since 2012. Now his model is alerting him to the next set of coins with huge potential, all thanks to a massive shift inside the world of crypto.

Magnolia Oil & Gas Gets Upgrade On Strong Finances, Brighter Oil Outlook

KeyBanc raised Magnolia Oil & Gas to Overweight with a $29 target, citing a defensive profile and disciplined growth outlook.

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before November 18's bombshell.

Trump Administration Explores Possible Meeting With Kim Jong Un During Asia Trip

Trump considers meeting Kim Jong Un during upcoming Asia trip, but no concrete plans have been made amid ongoing China trade negotiations.

Anthropic inks multibillion-dollar deal with Google for AI chips

SAN FRANCISCO (AP) — Artificial intelligence company Anthropic has signed a multibillion-dollar deal with Google to acquire more of the computing power needed for the startup's chatbot, Claude.

Elon's New Device Could Launch Biggest IPO of the Decade - Ad

Elon Musk's new device is being called a "game-changer"-and even the White House is using this tech. Jeff Brown says it could launch Musk's next trillion-dollar company and make early investors rich. You can claim a stake now for as little as $500.

Ford Stock Is Racing Higher Tuesday: What's Driving The Action?

Ford shares are trading higher on Tuesday, moving in tandem with General Motors after the automaker raised its full-year earnings guidance.

LKQ Corp Reveals German Solar Power Partnership

LKQ shares rose after it announced a 20-year solar power deal in Germany, advancing its sustainability and emissions goals.

Is Elon's Empire Crumbling? - Ad

Jeff Brown - the legend who called Tesla and Nvidia early - says Elon is about to launch a $25T AI revolution. This isn't another chatbot. It's real-world AI that could 14X the impact of ChatGPT. But after January 29, it may be too late.

Supreme Court will consider whether people who regularly smoke pot can legally own guns

WASHINGTON (AP) — said on Monday that it will consider whether people who regularly smoke marijuana can legally own guns, the latest firearm case to come before the court since .

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service