Latest news with #DepartmentofLabor
Globe and Mail
2 days ago
- Business
- Globe and Mail
Market Analysis: June 18th, 2025
Global Markets Canadian Markets Canada's main stock index rose modestly on Wednesday, as investors and traders digested the comments from the Bank of Canada, which opted to 'Hold' its key interest rate steady recently. The BoC cited an 'unpredictable' economic environment as the primary reason for the pause in rate cuts. Although inflation has cooled somewhat, policymakers remain concerned about mixed signals in consumer spending, business investment, and global economic trends. The BoC emphasized it will remain data-dependent in future decisions. American Markets U.S. markets traded mixed as investors digested the latest Federal Reserve policy update. The Fed held its benchmark interest rate steady at 4.25%-4.5% , marking the fourth consecutive meeting with no change. The central bank reiterated its projection for two interest rate cuts by year-end, a signal that it still sees room to ease monetary policy in the second half of 2025—provided inflation continues to cool. On the labor front, new data from the U.S. Department of Labor showed that jobless claims fell slightly to 245,000 from 250,000 the week prior. Though marginally better than expected, the number remains relatively elevated, suggesting softening in the job market—a potential relief for the Fed's inflation concerns, but also a sign of slowing economic momentum. European Markets European stocks closed broadly lower. Sentiment was weighed down by concerns over France's economic growth, with projections now showing only a 0.6% GDP expansion for 2025. The tepid outlook comes amid rising political uncertainty following recent election results and elevated public debt levels. In the United Kingdom, markets fared slightly better, where markets closed marginally higher, buoyed by in-line inflation data. The U.K.'s annual inflation rate slowed to 3.4% in May, matching economist expectations. This reinforced speculation that the Bank of England may be nearing a pivot toward rate cuts, possibly as early as the next few months, providing some support for consumer-facing sectors and rate-sensitive industries. Corporate News American Airlines Inc Bernstein cut price target from $15 to $14 due to rising jet fuel costs impacting Q3 margins. Blackstone Inc Cirsa (owned by Blackstone) to raise €460M in Madrid IPO: €400M new shares, €60M secondary. Proceeds to fund growth and reduce debt. Boeing Inc & General Electric Co Investigators believe emergency system was engaged in Air India crash. Raises questions about engine performance; aircraft used GE GEnx engines. Definity Financial Corp RBC initiates with Outperform rating, target C$87, citing benefits from Travelers acquisition. Delta Air Lines Inc Bernstein lowers target from $61 to $60, citing weak demand and pressure to reduce flight capacity. General Mills Inc Will eliminate artificial colors and dyes from all U.S. retail and school foods by end of 2027. Goldman Sachs Group Inc Revamps Asia operations, unifying teams to expand investment banking presence and boost deal flow in the region. Groupe Dynamite Inc RBC raises target to C$27 from C$23 after stronger-than-expected Q1 earnings. Hasbro Inc Cuts 3% of global staff (~150 roles) to reduce exposure to China tariffs; speeding up sourcing diversification. Jabil Inc JPMorgan lifts target to $214 from $180 citing strong performance in AI strategy and execution. Keyera Corp Buying Plains' Canadian NGL business for C$5.15B, adding infrastructure across Alberta, Saskatchewan, Manitoba, Ontario. Deal closes Q1 2026. Meta Platforms Inc OpenAI CEO says Meta offered staff up to $100M bonuses to switch jobs; called Meta a top AI rival. Nvidia Corp Malaysia investigates reports of Chinese firms using Nvidia chips for AI model training in local data centers. Sarepta Therapeutics Inc TD Cowen cuts target to $24 from $62, citing expected FDA revocation of Elevidys approval. TC Energy Corp
Yahoo
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq stall as Fed takes front seat from Mideast fears
US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) were all with less than 0.1% of the flat line at the open. Markets are on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump said, "Our patience is wearing thin," and met with his national security team on Tuesday, raising speculation that the US could join Israel's offensive. Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does. Oil prices ticked higher, recovering ground after falling 1% earlier Wednesday morning. Brent futures (BZ=F), the international benchmark, rose to above $76 a barrel while West Texas Intermediate (CL=F) crude traded just above $75. Read more: The latest on Trump's tariffs Against that background, attention is turning to the Fed's policy decision due at 2 p.m. ET, when the central bank is expected to hold interest rates steady. The focus is on the "dot plot" to shed light on whether two rate cuts are still on the table this year. Investors will watch Chair Jerome Powell's press conference for insight into pressures on the economy amid Trump's tariffs and trade push. Meanwhile, weekly jobless claims remained near their highest level in eight months. US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) were all with less than 0.1% of the flat line at the open. Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021. Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations. Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins. The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation. 'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger. Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%. Read more here. Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday. The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China. "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters. Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems. Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased. Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00. The S&P 500 (^GSPC) is back trading near record highs, but there's still skepticism on Wall Street, Yahoo Finance's Allie Canal reports: Read more here. Economic data: Building permits (May preliminary); Housing starts (May); FOMC rate decision; FOMC median rate forecast for end of 2025; Initial jobless claims (week ending June 14); Continuing claims (week ending June 7) Earnings: Aurora (ACB), Smith & Wesson (SWBI) Here are some of the biggest stories you may have missed overnight and early this morning: Stocks are back near record highs — but Wall Street isn't buying it Investors brace for Fed signal on 2025 rate cuts Musk's xAI burns through $1 billion a month as costs pile up US added over 1,000 new millionaires a day last year: UBS Trump flexes security powers to keep global tariff goal alive Nintendo extends gains to record as Switch 2 sales boom Shares of Nintendo (NTDOY, 7974.T) continued to climb, with President Trump's trade policy shift providing an added tailwind to the success of its Switch 2 games console update. The stock jumped in Tokyo, while the US-listed stock popped before the bell on Wednesday. Bloomberg reports: Read more here. Oil is holding gains after spiking to a five-month high on Tuesday. Concerns over the US joining the ongoing conflict between Israel and Iran continue to bolster the value of the commodity. Bloomberg reports: Brent (BZ=F) traded above $76 a barrel after closing 4.4% higher in the previous session, while West Texas Intermediate (CL=F) was near $75. President Donald Trump met with his national security team on Tuesday, after demanding Iran's 'UNCONDITIONAL SURRENDER' and warning of a possible strike against the country's leader — Ayatollah Ali Khamenei — in a social media post. Iran's crude-exporting infrastructure has been spared so far, and most of the fallout has been confined to shipping. The Middle East produces around a third of the world's oil and a wider conflict could drive prices even higher. The biggest concern for the oil market centers on the Strait of Hormuz, although there are no signs that Iran is seeking to disrupt shipping through the narrow waterway. About a fifth of the world's daily crude output passes through the strait at the entrance to the Persian Gulf. Read more here. US stocks wavered on Wednesday, with the prospect of the US joining Israel-Iran hostilities keeping investors on edge as they braced for the Federal Reserve's interest rate decision later in the day. The Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) were all with less than 0.1% of the flat line at the open. Weekly claims for unemployment benefits remained near their highest level in eight months during the second full week of June, while the number of Americans filing for unemployment insurance on an ongoing basis also remained near the highest level since November 2021. Data from the Department of Labor released Thursday morning showed 245,000 initial jobless claims were filed in the week ending June 14, down from 250,000 seen the week prior and in line with economists' expectations. Meanwhile, 1.945 million continuing claims were filed. This marked a slight move down from 1.951 million the week prior, which had been the highest level since November 2021. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Shares of the largest US stablecoin issuer, Circle (CRCL), popped 3% after the Senate passed new legislation that would establish a framework for dollar-backed cryptocurrencies known as stablecoins. The GENIUS Act still needs to move through the House and President Trump before it's signed into law, but the bill's passage in the Senate was heralded as a win for the crypto industry, which has been pushing for clearer and more positive regulation. 'I feel really good about [this bill],' Dante Disparte, chief strategy officer and head of global policy and operations at Circle, told Yahoo Finance's David Hollerith and Jennifer Schonberger. Circle stock debuted on the public markets on June 5 in an explosive IPO. Since its debut, Circle stock is up more than 380%. Read more here. Toymaker Hasbro (HAS) announced Tuesday it cut 3% of its global workforce, or about 150 employees, as part of a larger cost-cutting effort. The stock fell 3% in premarket trade on Wednesday. The Monopoly maker has been navigating President Trump's tariffs and trade war, especially with China, where it sources about half of its toys and games. The company is working to diversify its supply chain. and reduce its exposure to China. "Ultimately, tariffs translate into higher consumer prices, potential job losses as we adjust to absorb increased costs, and reduced profits for our shareholders," Hasbro's CEO Chris Cocks said during an earnings call in April, per Reuters. Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: AMD (AMD) stock rose over 1% in premarket trading on Wednesday, following the news it plans to partner with Microsoft to develop custom chips to power the next range of Xbox systems. Tesla (TSLA) stock was up before the bell today. A Bloomberg report on Wednesday said that Elon Musk's artificial intelligence startup xAI was burning through $1B a month as costs of building its AI models increased. Micron (MU) shares rose 1% today in premarket trading, following Wells Fargo analysts maintaining a Buy rating for the tech stock and a price target of $130.00. The S&P 500 (^GSPC) is back trading near record highs, but there's still skepticism on Wall Street, Yahoo Finance's Allie Canal reports: Read more here. Economic data: Building permits (May preliminary); Housing starts (May); FOMC rate decision; FOMC median rate forecast for end of 2025; Initial jobless claims (week ending June 14); Continuing claims (week ending June 7) Earnings: Aurora (ACB), Smith & Wesson (SWBI) Here are some of the biggest stories you may have missed overnight and early this morning: Stocks are back near record highs — but Wall Street isn't buying it Investors brace for Fed signal on 2025 rate cuts Musk's xAI burns through $1 billion a month as costs pile up US added over 1,000 new millionaires a day last year: UBS Trump flexes security powers to keep global tariff goal alive Nintendo extends gains to record as Switch 2 sales boom Shares of Nintendo (NTDOY, 7974.T) continued to climb, with President Trump's trade policy shift providing an added tailwind to the success of its Switch 2 games console update. The stock jumped in Tokyo, while the US-listed stock popped before the bell on Wednesday. Bloomberg reports: Read more here. Oil is holding gains after spiking to a five-month high on Tuesday. Concerns over the US joining the ongoing conflict between Israel and Iran continue to bolster the value of the commodity. Bloomberg reports: Brent (BZ=F) traded above $76 a barrel after closing 4.4% higher in the previous session, while West Texas Intermediate (CL=F) was near $75. President Donald Trump met with his national security team on Tuesday, after demanding Iran's 'UNCONDITIONAL SURRENDER' and warning of a possible strike against the country's leader — Ayatollah Ali Khamenei — in a social media post. Iran's crude-exporting infrastructure has been spared so far, and most of the fallout has been confined to shipping. The Middle East produces around a third of the world's oil and a wider conflict could drive prices even higher. The biggest concern for the oil market centers on the Strait of Hormuz, although there are no signs that Iran is seeking to disrupt shipping through the narrow waterway. About a fifth of the world's daily crude output passes through the strait at the entrance to the Persian Gulf. Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
6 days ago
- Business
- The Hill
Outdated apprenticeship laws are keeping Americans out of work
The U.S. is in the throes of a skilled-labor shortage. One answer to this problem is centuries old: apprenticeships. Apprenticeships can fill jobs and add a rung to the ladder of opportunity for people who cannot afford college. Yet many states lift that ladder out of reach by giving preferential treatment to existing apprenticeship programs over proposed new programs. That can change through legislation, federal executive action and litigation. Many trades train new workers through apprenticeship programs, where people learn on the job while earning a paycheck. But laws regulating apprenticeships have long stifled the creation of new programs that could train more needed workers. One example is the 'needs test.' In multiple states, proposed apprenticeship programs must show that there is a local 'need' for their program. This means that existing programs are protected against competition from new programs based on the theory that existing programs already meet industry needs. Some states even go so far as to allow established programs to file objections against proposed new programs. These 'competitors' vetoes' treat apprenticeship programs unequally, favoring established players (and their affiliated labor unions) over newcomers. Workers miss out on opportunities, consumers face increased costs and the labor shortage drags on. Beyond legislative reform, there are two ways to push back against these unfair laws: federal executive action and constitutional litigation. The National Apprenticeship Act, also known as the Fitzgerald Act, empowers the secretary of Labor to cooperate with states' labor agencies to promote standards for apprenticeships and increase apprenticeship opportunities. Department of Labor regulations create a system where state authorities can act on behalf of the department to register apprenticeship programs for federal purposes — that is, providing apprentice labor for projects operating under federal contracts or grants. The state's laws must meet certain requirements for the state to be eligible. This dynamic gives the Labor Department leverage over state laws that restrict access to apprenticeship opportunities. In 2007, for example, the Labor Department ended its partnership with California's apprenticeship agency due to the creation of a needs test. The department reasoned that the test 'limited, rather than promoted, apprenticeship opportunity.' Despite this, other states with similar needs tests remain federal partners. The first Trump administration sought to promote apprenticeship opportunities, and the second should follow this by pressuring states to drop needs tests in return for continued or renewed partnerships. There's also a constitutional path. Pacific Legal Foundation, where we work, brought a 2012 lawsuit challenging California's needs test, but the law was upheld in a Ninth Circuit decision in a different case the following year. Multiple courts have held that governments cannot shelter established businesses against competition from newcomers, but the Ninth Circuit upheld the needs test on the faulty premise that apprentices may need to have post-apprentice job opportunities protected. This justification holds no water in a climate with an insufficient supply of skilled workers. This reflects a sad trend in the law: Your right to earn a living for your family takes a backseat to lawmakers' favored interest groups. Your right to seek education so you can earn a living deserves just as much respect as many other rights we hold dear, like your right to speak freely. To paraphrase a Supreme Court decision, your need to feed your family 'may be as keen, if not keener by far, than [your] interest in the day's most urgent political debate.' This is especially true for those struggling to make ends meet. Too often, politicians believe that we need to adopt laws that shower marginalized groups with handouts and special favors. But what people really need is a fair shake — a chance to learn a trade and climb the ladder of opportunity. Yet the law often raises that ladder beyond reach. Leveling the playing field for apprenticeship programs will do far more than handouts to empower people to achieve the American Dream. Something is deeply wrong when we do not have enough workers at the same time families are struggling to put food on the table. We can address both problems by promoting apprenticeship programs. Much reform is needed of apprenticeship laws to maximize the potential these programs can provide. However, doing away with needs tests and giving equal treatment to existing and proposed apprenticeship programs is a good first step toward greater economic opportunity and lower costs for all. David J. Hoffa and Ethan W. Blevins are attorneys at Pacific Legal Foundation, a public interest law firm that defends Americans' liberty against government overreach and abuse.
Yahoo
13-06-2025
- Health
- Yahoo
CDC: Average age of US moms giving birth rises to nearly 30
The average age of first-time mothers in the U.S. has risen to almost 30, according to a new report from the Centers for Disease Control and Prevention (CDC). New data published in a National Vitals and Statistics Report on Friday shows the mean age of mothers at first birth increased by 0.9 years between 2016 and 2023, rising from 26.6 years to 27.5. Asian women reported the largest increase in mean age at first birth between those years, rising from 30.1 years in 2016 to 31.5 by 2023. Meanwhile, Native Hawaiian and other Pacific Islander mothers had the lowest, bumping up from 24.8 to 25.2 years of age. The report shows a similar increase in the mean age at which women have their second and third child between 2016 and 2023. Those increases pushed the mean age of birth for all mothers by 0.9 years, from 28.7 in 2016 to 29.6 in 2023. 'This analysis demonstrates that the shift toward older motherhood occurred across birth orders, among nearly all racial and ethnic groups, and in both urban and rural areas,' the report reads. The report's findings follow a years-long trend as women and men wait longer to have children. The high cost of child care is one of the many reasons why Americans are thinking twice before having children. Research shows some women are delaying having children because they are prioritizing education, career or because of changing societal norms. Child care costs have been on the rise for decades. In 2022, the median cost of child care in the country ranged from $6,552 to $15,600 a year, according to data from the Department of Labor. That sum represents between 8.9 percent and 16 percent of a family's income. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
13-06-2025
- Health
- The Hill
CDC: Average age of US moms giving birth rises to nearly 30
The average age of first-time mothers in the U.S. has risen to almost 30, according to a new report from the Centers for Disease Control and Prevention (CDC). New data published in a National Vitals and Statistics Report on Friday show that the mean age of mothers at first birth increased by 0.9 years between 2016 and 2023, rising from 26.6 years of age to 27.5. Asian women reported the largest increase in mean age at first birth between those years, rising by 1.4 years from 30.1 in 2016 to 31.5 by 2023. Meanwhile, Native Hawaiian and other Pacific Islander mothers had the lowest, bumping up just 0.4 years from 23.2 to 24.2 years of age. The report shows a similar increase in the mean age at which women have their second and third child between 2016 and 2023. Those increases pushed the mean age of birth for all mothers by 0.9 years, from 28.7 in 2016 to 29.6 in 2023. 'This analysis demonstrates that the shift toward older motherhood occurred across birth orders, among nearly all racial and ethnic groups, and in both urban and rural areas,' the report reads. The report's findings follow a years-long trend as women, and men, wait longer to have children. The high cost of childcare is one of the many reasons why Americans are thinking twice before having children. Research shows that some women are delaying having children because they are prioritizing education, career or because of changing societal norms. Childcare costs have been on the rise for decades. In 2022, the median cost of childcare in the country ranged from $6,552 to $15,600 a year, according to data from the Department of Labor. That sum represents between 8.9 percent and 16 percent of a family's income.
