US private sector job growth steady in September, ADP says

The numbers: US private sector employers added 208,000 jobs in September, up from a revised 185,000 in the previous month, according to the ADP job report released Wednesday. Economists polled by the Wall Street Journal had expected a gain of 200,000 jobs, up from the initial August estimate of 132,000. Key details: Annual pay was … Read more

Crypto companies and funds rally as bitcoin rises, Dow jumps 700 points

Major crypto-related stocks and funds rallied Tuesday as bitcoin climbed 3%, and the Dow Jones Industrial Average DJIA, +2.25% jumped more than 700 points. The largest cryptocurrency BTCUSD, +2.54% is trading at around $20,089, according to CoinDesk data. The Dow DJIA, +2.25% rose 2.4% to 30,204, and the S&P 500 SPX, +2.89% gained 2.7% to … Read more

These 20 stocks in the S&P skidded as much as 21.5% during another brutal week for the market

Another difficult week for US stocks ended with shares of oil producers sliding and Ford Motor Co. tumbling further on concerns over supply shortages. The S&P 500 SPX, -1.72% fell 1.7% on Friday for a one-week decline of 4.6%, as investors continued to fret about the Federal Reserve’s interest-rate increases to temper inflation. Among components … Read more

AstraZeneca, Eli Lilly and Roche among pharmaceutical companies upgraded for high returns on R&D investments, analysts say

Shares in pharmaceutical giants including Roche, Novo Nordisk, Eli Lilly and AstraZeneca were little changed Wednesday despite getting a ratings boost from analysts at Berenberg, who cited respective returns on research and development investment and the ability of those companies to withstand pressure coming from recent US drug price reform. London-listed AstraZeneca AZN, -1.70% AZN, … Read more

Norway’s sovereign fund will shun Canadian cannabis companies because the substance is still illegal in that country

Norway’s $1.2 trillion pension fund said it will not invest directly or indirectly in four Canadian cannabis stocks because cannabis remains illegal within its borders. The Norwegian Government Pension Fund Global said production and sale of cannabis for recreational use “should be excluded as a new criterion for the exclusion of companies” from the fund. … Read more

JPMorgan downgrades Discover Financial, Rocket Mortgage and Enact Holdings as it eyes interest rate hikes

JPMorgan Chase analysts on Tuesday cut their ratings on three consumer finance companies after Federal Reserve Chairman Jerome Powell signaled the central bank’s determination to continue hiking interest rates. JPMorgan analysts said Powell’s hawkish comments at Jackson Hole prompted them to update their valuations and ratings across the consumer finance space. “While we continue to … Read more

Job growth slows for second-straight month in August, revamped ADP data show

US private sector employers added 132,000 jobs in August, down from 268,000 in the previous month and 480,000 in June, according to a revamped ADP job report released Wednesday. “Our data suggests a shift towards a more conservative pace of hiring, possibly as companies try to decipher the economy’s conflicting signals,” said Nela Richardson, chief … Read more

US stocks climb as strong economic data lifts sentiment ahead of Powell speech

US stocks advanced on Thursday with the main benchmarks headed for back-to-back gains following a batch of strong economic data as investors waited to hear from Federal Reserve Chairman Jerome Powell. How stocks are trading S&P 500 SPX, +0.61% rose 18 points, or 0.6%, to 4,163. Dow Jones Industrial Average DJIA, +0.15% advanced 22 points, … Read more

US economy slows again, S&P finds, due to high inflation and rising interest rates

The numbers: US businesses grew more slowly in August as high inflation and rising interest rates spurred consumers to curb spending, a pair of surveys showed on Tuesday. The S&P Global US services sector index dropped to 44.1 from 47.3, based on the “flash” survey. It was the fifth decline in a row and the … Read more

ADP retools economic indicators to create its own estimate of US job growth

The giant payroll firm ADP said Tuesday it has revamped its national employment report to be a stand-alone estimate of the health of the private-sector labor market and will no longer try to forecast the national job data. The data will be based on payroll transactions of over 25 million US workers. The data will … Read more