Warsh's ideological overhaul of the central bank isn't the best news for a stock market that's priced for perfection.
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An IPO rocket, a war rally and a new Fed gave investors plenty to think about. Plus: Our latest Financial Flashback, to the options-dating scandal 20 years ago.
A new Fed chair isn't a panacea for the ideological gap between the president and the central bank over interest rates.
“American workers are not getting a raise,” says J.P. Morgan Asset Management strategist.

<body><p>STORY: U.S. stocks closed mixed on Thursday, with the Dow adding more than 1.1% and posting a record closing high, the S&P 500 ending flat and the tech-heavy Nasdaq tumbling eight-tenths of a percent.</p><p>The Labor Department's nonfarm payrolls report showed the economy added 57,000 jobs in June, far below economists' estimates.</p><p>That lowered investors' expectations for a rate hike from the Federal Reserve in September to just over 50%, according to CME FedWatch. </p><p>But Anna Rathbun, founder and CEO of Grenadilla Advisory, said she believes a rate increase may still be on the way due to persistent inflation.</p><p>"I think the Fed interest rate expectations, to expect a hike sometime down the line, I think is a safer bet than expecting a cut." // "I mean, if the Fed is really sticking to that 2% target, we're not going to see that, in my opinion, anytime soon. And that is partly because even if oil prices go down, and it has, and that will be reflected definitely in the headline inflation number. The core inflation [number] - minus fuel, minus food - has consistently been above 2%. So that means, this is my opinion, I think that the equilibrium inflation is probably settling above the Fed's target. That means higher for longer."</p><p>Among Thursday's stock moves, technology was among the biggest sector decliners in the S&P 500.</p><p>Chip stocks were especially hard hit, with the Philadelphia semiconductor index down sharply for a second day, shedding about five and a half percent. </p><p>Shares of Tesla dropped seven and a half percent, even though the electric carmaker posted second-quarter deliveries above estimates. Tesla shares had risen sharply this week ahead of the report.</p><p>Among other decliners, shares of Bending Spoons tumbled more than 11% a day after the Vimeo owner gained 40% in its Nasdaq debut.</p><p>Markets will be closed Friday ahead of the Fourth of July holiday.</p></body>
Plus, an Olympian is charged with damaging the D.C. reflecting pool, and celebs use special-ops tactics to keep their weddings private.
U.S. stocks ended mixed after June hiring data came in well below expectations and prompted investors to dial back bets on a Federal Reserve interest-rate increase this month.
A weak jobs report met a strong Apple rally on Thursday. Here's why the major indexes couldn't agree on a direction.
The FTSE 100 closed up 174.53 points, 1.7%, at 10,652.87.
According to the Bureau of Labor Statistics, nonfarm payrolls in June increased by a seasonally adjusted 57,000.
Payrolls badly missed the 115,000 economists expected, and the unemployment rate's dip to 4.2% masked a shrinking labor force. Now it's Fed Chair Kevin Warsh's problem.
Stocks were up to start Thursday’s session after the unemployment rate fell unexpectedly in June. The Dow rose 370 points, or 0.7%. The U.S. economy added fewer jobs than economists expected in June, but unemployment dipped to 4.2%.
Investing.com - U.S. stock futures were mixed on Thursday as investors awaited a closely watched U.S. employment report that could help shape expectations for Federal Reserve interest rate policy in the months ahead.
A fourth straight month of gains above 100,000 would represent a run of job growth not seen since the start of 2024
If you think falling oil prices mark the end of Trump-driven inflation, you'll be sorely mistaken.

<body><p>STORY: U.S. stocks finished flat to slightly lower on Wednesday, with the Dow little changed, the S&P 500 down more than two-tenths of a percent and the Nasdaq sliding two-thirds of a percent.</p><p>Speaking at a European Central Bank panel in Portugal, U.S. Federal Reserve Chair Kevin Warsh said he will stick firmly to the central bank's 2% inflation target and "disappoint" anyone who expects loose monetary policy despite President Donald Trump's call for interest rate cuts.</p><p>But Brad Bernstein, managing director at UBS Private Wealth Management, doesn't think the Fed will hike rates this year either.</p><p>"One of the three reasons we think markets will be higher at the end of the year is because the Fed is not going to raise interest rates this year. // We think more likely they'll resume Fed cuts in the spring of next year. And today, Fed Chair Walsh said in Portugal that he has seen in the last four weeks expectations, inflation expectations continuing to get better because of the drop most likely he - didn't cite this - but most likely because oil has gone from 90 [dollars a barrel] to 70 and now under 70 today."</p><p>Among Wednesday's stock moves, technology shares fell, with the Philadelphia Semiconductor Index down more than 6%.</p><p>One tech outlier was Meta Platforms after Bloomberg News reported that it is building a cloud business to sell excess AI computing capacity.</p><p>Among the day's decliners, shares of Alcoa fell about 9% after Australia's South32 agreed to sell most of its aluminum assets to Alcoa.</p><p>The key monthly U.S. jobs report is due out on Thursday, while the market will be closed Friday ahead of the Fourth of July holiday.</p></body>
US stock futures slipped as investors braced for Thursday's release of the June jobs report.
US stock futures slipped as investors braced for Thursday’s release of the June jobs report.
Stocks fell as Meta buzz hit SpaceX, Micron and many AI stocks. Tesla is near a buy point with deliveries due. The June jobs report also is on tap.
U.S. stocks ended modestly lower after investors parsed comments from Federal Reserve Chairman Kevin Warsh for clues about the path of interest rates.
US equity indexes fell Wednesday as the technology sector paced declines and traders assessed Federa