Not one bad number in July jobs report, says ex-White House chief economist

The jobs report on Friday didn’t just blow away expectations by adding 255,000 positions, but was strong throughout, the Republican former chief economist of the President’s Council of Economic Advisers said. “We have rarely gotten a report that didn’t have some hole, like you get jobs but there’s no wage growth, or the labor forces declines and the unemployment goes ... Read More »

The big jobs number is a win for luxury housing

A larger-than-expected employment gain in July could boost the recovery in prices for luxury U.S. homes. Stock market volatility caused a drop in luxury values in the first quarter of this year, but prices recovered slightly in the second quarter, rising 0.8 percent annually, according to Redfin, a real estate brokerage. Redfin defines a home as luxury if it is ... Read More »

Early movers: COH, CTSH, WLTW, PCLN, LNKD, ATVI, KHC, RAX & more

Stocks to Watch: August 5,2016  23 Hours Ago|00:58 Check out which companies are making headlines before the bell: Coach — Coach was upgraded to “outperform” from “market perform” at Telsey Advisory Group, which said recent product and store initiatives have improved perception of the brand and provided near term catalysts for the stock. Cognizant Technology — The technology services provider reported ... Read More »

Jobs recovery gets stronger, and job quality is ‘good’

The United States isn’t just continuing to add jobs — it’s strengthening as well, and that’s good for workers. That’s the big takeaway from this morning’s monster jobs number, which blew away analysts’ expectations. Annual wages rose at an annualized rate of 2.6 percent, which is big news in a job market that has experienced a tepid recovery when it ... Read More »

Early movers: VIAB, TSLA, TEVA, BDX, TIME, GOGO, CHK, LB, SQ & more

Viacom — The media company reported adjusted quarterly profit of $1.05 per share, 4 cents a share above estimates. Revenue also beat forecasts. A drop in media networks results was more than countered by growth in the film division. Tesla — Tesla reported an adjusted quarterly loss of $1.06 per share, wider than the 52 cent a share loss expected ... Read More »

Wall Street banks seen benefiting from Bank of England rate cuts

The Bank of England delivered a shocker to the market Thursday morning, and potentially a little bit of good news to banks. The decision by the central bank to cut interest rates from 0.5 percent to 0.25 percent might mean investors’ margins get crimped. But the British central bank’s renewed commitment to buying bonds could help banks around the world. ... Read More »

Wall Street wealth managers face growing competition

One of Wall Street banks’ biggest businesses is taking heat from competitors old and new. Many big banks are seeing fees from wealth and investment management divisions fall, putting a crimp in critical revenue at a time when Wall Street is having an increasingly tough time matching theirreturn on equity targets. Goldman Sachs’ most recent earnings report noted that investment ... Read More »

Food is ruling retail real estate, and food trucks are moving in

George Rose | Getty Images A Wolfgang Puck restaurant in the Crystals, a luxury shopping mall in Las Vegas. For the first time nearly two decades, restaurant sales surpassed supermarket sales last year. The turnaround is now showing up in retail real estate, as landlords seek to not only profit from the new normal, but reinvent the now-suffering retail mall. ... Read More »

1 million-plus more homeowners can benefit from refi post-Brexit

A drop in mortgage interest rates last month following the Brexit vote has borrowers rushing back to the bank, some hoping to cash in on their monthly mortgage payments and some hoping to cash out new-found home equity. Whichever the case, lenders are trying, and in some cases failing, to keep up with the volume. The decrease in interest rates ... Read More »

Early movers: MRK, GE, EXE, XRX, GOOGL, AAPL, FB & more

Stocks to Watch: July 29,2016  Friday, 29 Jul 2016 | 8:13 AM ET|00:51 Check out which companies are making headlines before the bell: Merck — The drugmaker earned an adjusted 93 cents per share for the second quarter, two cents a share above estimates. Revenue beat forecasts, and Merck also raised the lower end of its full-year guidance. Cigna — The ... Read More »