News

Labor and Employment

Reuters | Equities.com |

U.S. private payrolls growth slowed sharply in July, pointing to a loss of momentum in the labor market and overall economic recovery as new COVID-19 infections spread across the country.

The ADP National Employment Report on Wednesday showed private payrolls increased by 167,000 jobs last month. Data for June was revised up to show payrolls jumping by 4.314 million jobs instead of advancing 2.369 million as previously estimated.

Economists polled by...


Reuters | Equities.com |

U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery.

The upbeat survey from the Institute for Supply Management (ISM) on Monday, however, likely overstates the health of the manufacturing sector. Caterpillar Inc last week reported lower second-quart...


David Nelson, CFA CMT | Equities.com |

Last week capped off another powerful month for the broad indices setting up a potential challenge to the all-time S&P high set in February. Of course, the Nasdaq is already there in large part powered by the 5 largest companies (Apple, Microsoft, Amazon, Alphabet and Facebook) that all hit highs in July even if they didn't close there.

With the top five stocks representing 23% of the market cap and just 16% of earnings investors have a right to be nervous asking if there's too much concentration in ...


AP News | Equities.com |

With tens of thousands of airline workers facing layoffs this fall, labor groups are pushing Congress for more federal money to keep them on the payroll until next spring.

The unions have gained significant support among Democrats. They hope that the prospect of mass layoffs weeks before a pivotal election will sway some Republican votes.

The airline industry has been battered by the virus pandemic. In March, companies got $32 billion to help cover payrol...


AP News | Equities.com |

American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus’ resurgence in much of the country could impede further gains.

Last month’s rise in consumer spending followed a seasonally adjusted 8.5% surge in May after spending had plunged the previous two months when the pandemic shuttere...


AP News | Equities.com |

The coronavirus pandemic sent the U.S. economy plunging by a record-shattering 32.9% annual rate last quarter and is still inflicting damage across the country, squeezing already struggling businesses and forcing a wave of layoffs that shows no sign of abating.

The economy’s collapse in the April-June quarter, stunning in its speed and depth, came as a resurgence of the viral outbreak has pushed businesses to close for a ...


Reuters | Equities.com |

After surviving two strokes at age 27, Olivia Colt threw herself into starting a catering business, a lifelong dream. Ten years and another stroke later, she had built Salt & Honey Catering Plus Events into a thriving operation in downtown Oakland.

Now with the coronavirus pandemic forcing cancellations of her customers’ weddings and events, she has slashed her staff from 25 to six and tried to drum up new business by selling groceries online. She secured a $100,000 forgivable loan under the U.S. Paycheck Protection Program (PPP) and another $150,000 loan under a federal program usually used for natural disasters. She expected the money to get her through just a few months of hardship.