Americans applied for fewer unemployment benefits at the end of 2019, the Labor Department announced Thursday. The number dropped by 2,000 to 222,000 in the seven days up until December 28, although the four-week average ticked up by 4,750 to 233,250.
The report beat expectations that had predicted 225,000 new claims, according to Reuters. The result marks the third consecutive weekly decline.
“I think we’re definitely going to see slightly smaller growth month by month than what we saw in 2019 and that’s consistent with economists expectations’ of the macroeconomy weakening slightly,” in the labor market, Beth Akers, Manhattan Institute senior fellow, told Cheddar.
She will be keeping an eye on manufacturing trends and changes in policy regarding trade for indications about how job numbers will grow (or shrink) in 2020.
“If you’re looking to something to be concerned about, you can look at the four-week moving average, which is up from what it’s been over the course of the year,” Akers said. “But, by and large, these are really strong, positive numbers for the labor market.”
Morgan Stanley reported a beat on its Q4 with $2.01 per share versus an estimated $1.91. The investment banking company's earnings were up about 9.2 percent from the year before.
Grant Feek, CEO of Tred, discusses the ways accepting crypto impacts the peer-to-peer used car industry and how using digital assets aids in fraud prevention among individuals.
In what could be the biggest deal in video games history, Microsoft's purchase of Activision Blizzard underlines the company's aggressive push in gaming and beyond into its long-term vision of being top dog in the metaverse. Adam Hollander, former director of gamification at Microsoft and founder of Hungry Wolves NFT, joined Cheddar's Opening Bell to discuss. “Microsoft always plays chess, not checkers," he said, describing the price tag as an opportunity cost. "It's about integrating Activision Blizzard in with Azure and Windows and Xbox and Hololens and Minecraft and everything else that they're doing for the inevitable goal of being the major player in the next phase of the internet."
Jason Moser, a senior analyst at the Motley Fool, breaks down Unilever's expansion into healthcare and outlines the challenges the company faces gaining market share in this field.
Rhys Williams, Chief Strategist at Spouting Rock Asset Management, breaks down what to expect ahead of big banks Q4 earnings and highlights areas of the tech sector with potential growth.
Anu Gaggar, Global Investment Strategist for Commonwealth Financial Network, breaks down the headwinds facing Banks and spotlights industries with potential growth.
Mark DeCambre, Markets Editor at MarketWatch, discusses the factors impacting bank profitability and highlights industries within tech that are showing signs of growth.
