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.”
Telecom giants AT&T and Verizon have agreed to delay activating their 5G services around airports and runways once again. This comes after major U.S. airlines voiced their concern over the rollout of 5G technology, warning of an impending "catastrophic" aviation crisis. Peter Andersen, Chief Investment Officer, Anderson Capital Management joined Cheddar's Opening Bell to discuss.
Earnings season kicks into high gear this week as big players are on tap to report their Q4 numbers. Goldman Sachs, Procter & Gamble, United Airlines, and Netflix are just a few of the companies we're keeping a close eye on to give us a better idea of how they're dealing with the Omicron variant, inflation and interest rates. David Nelson, chief strategist at Belpointe, gives a preview of what to expect.
Concerns over inflation have become one of the biggest worries for executives. A survey from The Conference Board shows that more than 900 CEOs consider inflation a top tier concern, a major shift from last year's survey that had it as a low-level concern. Rebecca Ray, Executive Vice President, Human Capital, The Conference Board joined Cheddar's Opening Bell for more.
David Maza, Managing Director and Head of Product at Direxion, joins Cheddar News to discuss the evolution of mRNA technologies, future applications of this tech including fighting Lyme disease and HIV, and what this all means for investors.
Jordan Zakarin, Media Producer at A More Perfect Union, joined Cheddar News to break down the latest from Colorado, where at least 8,700 Kroger employees walked off the job in demand of increased benefits and wages.
Thomas Hayes, Chairman at Great Hill Capital, joined Wake Up With Cheddar to break down what to look for on the economic front in the coming months amid an Omicron surge and planned interest rate hikes.
Stocks closed lower Tuesday with investors initiating a broad sell-off, leading the Dow to have its worst day of 2022 so far as it had its biggest decline since November. Investors are eyeing treasury yields, which have surged to pre-pandemic highs, as well as looking ahead to the Federal Reserve's path forward when it comes to raising interest rates. Meanwhile, as earnings season kicks off, Goldman Sachs shares are under pressure after a lackluster earnings report. Goldman is weighing on bank stocks as a whole. Jeff Buchbinder, Equity Strategist for LPL Financial, joins Cheddar News' Closing Bell to discuss today's close, why treasury yields are ticking higher toward pre-pandemic levels, big bank earnings reports, and more.
