BREAKING: U.S. Nonfarm Payrolls came in FAR BELOW expectations.
Unemployment rate: 4.2% vs 4.1% expected
That is a 68% miss versus expectations and an 82% drop from the previous month.
Markets were already expecting hiring to slow sharply, but this report came in far weaker than expected.
After softer jobless claims and PCE data this week, the latest numbers strengthen the case for the Fed to cut interest rates sooner or more aggressively.
Lower rate expectations generally mean Treasury yields and the U.S. dollar fall, while liquidity conditions become more supportive.
That is typically bullish for stocks and crypto, because lower interest rates make risk assets more attractive and reduce borrowing costs across the economy.
However, the extremely weak jobs number and rise in unemployment also signal that the U.S. economy is slowing materially.
For now, the immediate market impact is more Fed rate-cut expectations and a potential boost for stocks and crypto, but deeper labor-market weakness could eventually bring recession fears back into focus.
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Unemployment rate: 4.2% vs 4.1% expected
That is a 68% miss versus expectations and an 82% drop from the previous month.
Markets were already expecting hiring to slow sharply, but this report came in far weaker than expected.
After softer jobless claims and PCE data this week, the latest numbers strengthen the case for the Fed to cut interest rates sooner or more aggressively.
Lower rate expectations generally mean Treasury yields and the U.S. dollar fall, while liquidity conditions become more supportive.
That is typically bullish for stocks and crypto, because lower interest rates make risk assets more attractive and reduce borrowing costs across the economy.
However, the extremely weak jobs number and rise in unemployment also signal that the U.S. economy is slowing materially.
For now, the immediate market impact is more Fed rate-cut expectations and a potential boost for stocks and crypto, but deeper labor-market weakness could eventually bring recession fears back into focus.
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BREAKING: $STX and $WDC are down -10% and -7% in pre market after Toshiba said it's investing $380 million to double its hard drive production capacity by 2027.
More supply from Toshiba means the hard drive shortage that pushed STX and WDC to record highs this year is now expected to ease.
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More supply from Toshiba means the hard drive shortage that pushed STX and WDC to record highs this year is now expected to ease.
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Conservative leader Abascal:
“There are 80,000 Spaniards facing eviction in Ceuta, and the only thing the psychopath PM Sánchez can think of is to incite violence and surround Congress."
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“There are 80,000 Spaniards facing eviction in Ceuta, and the only thing the psychopath PM Sánchez can think of is to incite violence and surround Congress."
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She is into powerlifting and is very muscular
Her baseline T levels make way more horny and degenerate than her sorority sisters
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Her baseline T levels make way more horny and degenerate than her sorority sisters
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Most people don’t yet grasp what is happening in France. Markets are pricing French sovereign debt as junk, rating agencies will eventually have to follow. This will have two major impacts:
1. Most French banks are already rated at or just below the sovereign, so a move toward junk would likely drag domestically focused lenders with it. Credit to households and firms would slow sharply, hurting the economy and widening the fiscal deficit even further, a vicious cycle.
2. For the ECB, the constraint is legal as well as financial. A fall below investment grade would force sales by ratings-bound investors while making any backstop harder to justify under current rules.
The next euro crisis will begin in France. The first, which began in Greece, will feel like a walk in the park compared with what comes next.
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1. Most French banks are already rated at or just below the sovereign, so a move toward junk would likely drag domestically focused lenders with it. Credit to households and firms would slow sharply, hurting the economy and widening the fiscal deficit even further, a vicious cycle.
2. For the ECB, the constraint is legal as well as financial. A fall below investment grade would force sales by ratings-bound investors while making any backstop harder to justify under current rules.
The next euro crisis will begin in France. The first, which began in Greece, will feel like a walk in the park compared with what comes next.
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Looting has begun in France. We had no doubt that it would start. France today has no future
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A group of second and third-generation migrants steals garbage bins from a neighborhood to set them on fire in front of their school.
An older French man comes out to take back his bin but is quickly confronted by the rioters.
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An older French man comes out to take back his bin but is quickly confronted by the rioters.
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JUST IN: French high school students knock out a police officer and begin kicking his head with full force in the city of Belfort.
The health status of the officer remains unknown.
This is a developing story.
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The health status of the officer remains unknown.
This is a developing story.
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Dozens of immigrants and second- and third-generation French citizens took advantage of the student protest to loot a JD Sports athletic store.
As always, these people take advantage of any opportunity to STEAL and DESTROY.
France needs to DEPORT!
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As always, these people take advantage of any opportunity to STEAL and DESTROY.
France needs to DEPORT!
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Roger Verlomme high school in Paris.
Educating the French for 140 years.
Destroyed in a day by the offspring of invaders.
You had enough yet?
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Educating the French for 140 years.
Destroyed in a day by the offspring of invaders.
You had enough yet?
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European Leftists don't even defend multiculturalism anymore. They just look at you like this
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No country is improved by importing North African Muslims. They will not assimilate, they do not share your values. They hate you. This is very simple stuff
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