Roaring labor market puts ‘boomflation’ back on the map for investors

The worry instead turned to what a rip-roaring labor market and surging costs for everything means for stocks and bond portfolios, particularly if it turns into a mix of higher growth and inflation with staying power. What to even call such a scenario? “Boomflation,” said Kent Engelke, chief economic strategist at Capitol Securities Management, pointing … Read more

‘A clear sign that the US economy is not in a recession’: Economists react to blowout July jobs report

The July jobs report on Friday showed the US economy gained 528,000 jobs last month, with the unemployment rate falling to 3.5% from 3.6%. Economists polled by The Wall Street Journal had expected an addition of 258,000 jobs and unemployment staying at 3.6%. See: Jobs shocker — US adds 528,000 jobs in July and unemployment … Read more

World stock markets mixed ahead of US jobs data

Global stock markets and Wall Street equity futures were mixed Friday ahead of an update on the US jobs market while the Federal Reserve weighs whether more interest rate hikes are needed to cool surging inflation. London, Paris and Frankfurt stocks were lower while Shanghai and Tokyo advanced. Oil prices fell back. Investors were looking … Read more

US stock futures rise ahead of retail sales data, Citigroup results

US stock futures moved higher on Friday, as investors awaited data including retail sales and the University of Michigan sentiment survey, as well as earnings from Citigroup Inc. and Wells Fargo & Co. How are stock-index futures trading? Futures on the Dow Jones Industrial Average YM00, + 0.25% rose 113 points, or 0.4%, to 30717. … Read more