Friday’s jobs report calmed fears of an impending recession and could cause the Federal Reserve to hike rates sooner than expected, Wells Capital Management’s James Paulsen said. “I think it very much puts the Fed back in play for March perhaps in terms of tightening,” the chief investment strategist told CNBC’s”Squawk on the Street” following the report’s release. The Bureau of Labor Statistics reported that 151,000 nonfarm jobs had been created in January, versus consensus expectation for 190,000. Despite the lower headline number, Paulsen said the report was positive because unemployment ticked down to 4.9 percent and wages picked up…
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Though you might not have heard much about it from Samsung, one of the best new features in the Galaxy S7 and Galaxy S7 Edge is the way they handle auto-brightness. Have you ever used a smartphone under sunlight and felt the display was either too dark or too bright? Conversely, does your phone look too bright or not bright enough in a dimly-lit room? While any phone will let you make manual adjustments, you might have to mess with those settings again later when brightness returns to normal. It’s a nuisance, one that Samsung has reportedly eliminated with the…
Scott Mlyn | CNBC Jon Najarian CNBC “Halftime Report” trader Jon Najarian purchased shares ofHarley-Davidson on Friday after spotting unusual options activity. The company is the only major U.S.-based motorcycle manufacturer with $6 billion in annual sales. In other moves, trader Joe Terranova trimmed his positions inFacebook, Range Resources, EOG Resources and Concho Resourcesfrom his model portfolio to take some profits. Terranova also sold his entire position in Palo Alto Networks. Here’s why Najarian bought Harley-Davidson. [“source -cncb”]
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Hiring slowed substantially in January, but the fact that more people were working for higher pay signals strength in the labor market and dashes a little of the recent pessimism about the economy. Nonfarm payrolls rose by just 151,000, far short of the expected 190,000. The strong 292,000 gain in December was also reduced by 30,000 workers. But the unemployment rate fell to 4.9 percent, from 5 percent, as more people joined the work force. That shows up in the participation rate, which rose slightly to 62.7 form 62.6 percent. Another highlight of the report was the 0.5 percent increase…
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The employees of at least six Russian banks were recently the target of a well-crafted email attack where hackers masqueraded as the Russian Central Bank to trick them into installing malware. The incident is the latest in a string of malware attacks against financial institutions over the past year. Together they signal a shift in focus for many cybercriminal groups, from stealing money from bank customers to stealing money directly from banks themselves. According to researchers from Symantec, employees from different Russian banks received emails in December offering them employment at the Central Bank of Russia. The messages were sent…
The American consumer is what ultimately determines whether or not a recession happens, and it’s easy to be optimistic about the consumer, said David Rosenberg, chief economist and strategist at Gluskin Sheff, who had been a long-time bear. “I’m confident that as feeble as the economy is right now, we are going to escape an actual downturn,” Rosenberg told CNBC’s “Worldwide Exchange,” ahead of Friday morning’s release of the government’s January jobs report, which was a bit softer than expected on nonfarm job growth, compared to two previously strong months. Read MoreUgh! Job growth is slowing now, too While Wall…
The Galaxy S7 and LG G5 were just announced. Obviously, it’s way too early to make any meaningful comparison about the how their quality compares. But since when has that stopped me? Having spent just a little time with each of them, I’ve already formed a few preliminary opinions on how they stack up. Naturally, we’ll have a more fully-formed comparison after they’re released and we can really dig into them. Design The Galaxy S7 is a refined version of the excellent design from last year’s GS6. It’s sleek, glossy, and a fingerprint magnet. It looks and feels really premium,…
The global economy seems trapped in a “death spiral” that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned. Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S. “The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday. “Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global…