DeepSummary
The podcast episode provided updates on the stock market, Federal Reserve's stance on interest rates, and the labor market. It reported that the S&P and Nasdaq hit new record highs on a shortened trading day before the holiday, while the Dow remained flat. The Federal Open Markets Committee signaled that a rate cut is unlikely this month, but they are pleased with recent data on price and wage growth.
The labor market showed signs of gradual slowing, with an increase in the number of people filing for new unemployment benefits and recurring claims hitting a two-and-a-half-year high. These data points came ahead of the June jobs report scheduled for release on Friday.
Additionally, the episode mentioned that the independent media company Skydance tentatively agreed to pay $1.75 billion to acquire a controlling stake in Paramount Studios from National Amusements, reviving a previously stalled deal.
Key Episodes Takeaways
- The S&P and Nasdaq hit new record highs on a shortened trading day before the holiday.
- The Federal Reserve is unlikely to cut interest rates this month, but they are pleased with recent data on price and wage growth.
- The labor market is showing signs of gradual slowing, with an increase in new unemployment claims and recurring claims hitting a two-and-a-half-year high.
- The independent media company Skydance tentatively agreed to pay $1.75 billion to acquire a controlling stake in Paramount Studios from National Amusements.
- The June jobs report is scheduled for release on Friday.
- The Dow remained flat during the trading session.
- The episode provided updates on the stock market, Federal Reserve's stance on interest rates, labor market conditions, and the Skydance-Paramount deal.
Top Episodes Quotes
- “Central bankers signaled a rate cut is unlikely this month, though they are pleased with recent data on price and wage growth.“ by Megan McCarty
- “Weekly jobless claims delivered more signs of a gradually slowing labor market today, with the number of people filing for new benefits increasing and the number of recurring claims hitting a two and a half year high ahead of the June jobs report Friday.“ by Megan McCarty
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Episode Information
Marketplace Minute
Marketplace
7/3/24
Markets hit new highs; Fed minutes show a wait and see approach to rate cuts; Labor market shows more signs of slowing; Skydance-Paramount deal back on.