Headline News from The Associated Press
AP Headline News - Jun 07 2024 11:00 (EDT)
AP News. Good morning. I'm Ed Dining you. Government says a strong 272,000 jobs were added last month. The AP Shelley Adler has the numbers. Despite inflation and high interest rates, consumers keep spending, so employers keep hiring. That led to what PNC Financial Services Group Chief Economist Gus Fauche calls a solid report. It's a very good number. It indicates that the labor market is still strong. And in fact, job growth is still a bit stronger than the Federal Reserve would like. And speaking of the Fed, I do expect we will get Fed funds rate cuts towards the end of 2024. But it certainly makes it much less likely that we will get something in the near term over the next two or three months. The unemployment rate did edge up to 4%, ending a 27-month streak of unemployment below that number. That is still a very low unemployment rate. And then indicates that the job market is still very strong. I'm Shelley Adler. Central Command says a key section of a U.S. military built pier designed to carry aid into Gaza by boat has been reconnected. Drug Enforcement Administration's Special Agent Joshua Romig is the next prosecution witness to testify in Delaware and the federal gun trial of President Biden's son Hunter. President Biden is still in France. He met in Paris with Ukrainian President Falodimir Zelensky. The United States is standing with you. You are the bulwark against the aggression that's taking place. A familiar face is making his last spin. Well, the time has come to say goodbye. Today, Pat Sajak is wrapping up his host of TV's Wheel of Fortune. After 41 years and more than 8,000 episodes, he calls it a privilege. And I've always felt that the privilege came with a responsibility to keep this daily half hour a safe place for family fun. No social issues, no politics, nothing embarrassing, I hope, just a game. But gradually it became more than that. Audio from Sony Pictures Entertainment Ryan Seacrest will replace Sajak as host of Wheel of Fortune. This is AP News. I'm Seth Zutel and this is Markets in a Minute. Stocks are opening slightly lower on Wall Street and Treasuryo's are rising sharply after the government released a surprisingly hot jobs report. The worst of hiring last month suggested that markets may have to wait even longer for the interest rate cuts they want so badly from the Federal Reserve. The Fed is widely expected to hold rates steady when it meets next week. The S&P 500 was down one-tenth percent in the first hour of trading Friday. The Dow slipped 50 points. It's about one-tenth percent. Then as that composite fell, three-tenth percent. GameStop, the troubled video game retailer at the center of the current meme stock craze, dropped 15 percent after reporting another quarterly loss and saying a plan to sell up to 75 million more shares of stock. Yield on the tenured Treasury note jumped to 4.41 percent. Seth Zutel, New York. Harris Olympic organizers have unveiled a display of the five Olympic rings mounted on the Eiffel Tower as the French capital marks 50 days until the start of the summer games. I'm Ed Donahue, AP News. What is this place? Then these would? We are prey. The Watchers allow us to live because we follow their rules. You can't see them, but they see everything. No one sees one. From producer M. Night Shyamalan, written for the screen and directed by Ishana Night Shyamalan. Let them see you. What are they doing? Applause for you, Mina. The Watchers, now playing, rated PG-13, maybe inappropriate for children under 13. After countless steps and more than a few miles, her dog drives you forward one last time to make that final climb. And as the rising sun peeks out from the horizon, you know incredible happens here because it starts here with a fuel that makes it all possible. Fro plan sport. Discover advanced nutrition made to fuel strength and stamina and active dogs like yours at proplan sport.com. You have to celebrate your wins. We've won the Mint 400 and I celebrated that win for weeks, but then we had to focus and move on Dustin Jones, championship winning Can Am Off Road Racer. Can Am is the same. The most race wins in all types of terrain with the Maverick X3, but then they focus and move on. The Maverick are 240 horsepower in the first seven speed dual clutch transmission. This thing's a game changer. We celebrate those wins, but never for too long. The Can Am Maverick X3 and Maverick R visit canamoffroad.com. What's next? At Moss Adams, that question inspires us to help people and their businesses strategically define and claim their future. As one of America's leading, accounting, consulting and wealth management firms, our collaborative approach creates solutions for your unique business needs. We leverage industry focus insights with the collective technical resources of our firm to elevate your performance. Uncover opportunity and move upward at Moss Adams.com.