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.”
The U.S. propane market is headed for 'armageddon' this winter, according to the research firm, IHS Markit Ltd. Residential propane prices nationwide are currently at their highest level for the month of October since 2011. It comes amid soaring demand and as the energy source is in short supply. This all could lead to some regions experiencing shortages before winter ends. President and CEO of Suburban Propane Michael Stivala joins Cheddar News' Closing Bell to discuss.
The Dow, S&P, and Nasdaq begin November by not only ending Monday's session higher but with a record close as well. Melissa Armo, Founder and Owner of The Stock Swoosh, has her eye on major economic storylines and joins Cheddar News' Closing Bell to discuss what role the news could play on Wall Street.
October was a great month for movies, as it's set to bring in more than $600 million this month, according to Comscore. Thanks to big hits like Venom 2, No Time to Die, Halloween Kills, Dune, and The Addams Family 2, October is expected to be the best month since the pandemic began in regards to combined domestic ticket sales. Mark Sebastian, CIO of Karman Line Capital, explains why October wasn't just a fluke for movie theaters. He also gives a look at AMC stock as the chain is set to report its third quarter earnings on November 8.
Michael Boyd, CEO of aviation consultancy Boyd Group International, joined Cheddar to discuss recent mass flight cancellations by airlines like American and Southwest. Boyd noted that the usually efficient hub and spoke system left American Airlines vulnerable to the weather event in Dallas-Fort Worth and staffing shortages. He also said that while planning trips in the current climate can be unnerving, problems like weather delays are just part of the flying experience.
Christian Kroll, CEO of Ecosia, joins 'Fast Forward' to discuss how Ecosia uses its ad revenue to plant trees, and what the company plans to do after launching a $405 million venture capital fund focused on combating the climate crisis.
Guy Hirsch, USA managing director and head of NFT at eToro, joined Cheddar to discuss the evolution of bitcoin into the mainstream 13 years after the white paper from the presumed pseudonym Satoshi Nakamoto was published. Hirsch said there were several groundbreaking moments for the cryptocurrency, starting with the financial crisis of 2008, noting that people began seeking a solution to protect wealth, and bitcoin "gave people the confidence that it is an immutable ledger that no one can really hack or interfere with."
Visa CFO Vasant Prabhu, joined Cheddar's "Closing Bell" to talk about the financial service company's prediction that a full economic recovery from the pandemic won't happen until summer 2023 based on travel-related sources. Prabhu noted that a big question mark for the recovery is when Asia reopens for travel but "anything's possible" and the recovery could still end up going faster than anticipated.
