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North America
CNBC Economy

Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2%

The U.S. economy created far fewer jobs than expected in September, pointing to a surprising soft spot in the labor market and broader economy. Nonfarm payrolls rose a seasonally adjusted 29,000 for the month while the unemployment rate increased to 4.2%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been looking for job growth of 84,000 and an unemployment rate of 4.1%. In addition to the weakness in September, the August jobs count was revised lower to reflect a gain of 133,000 while July switched from a gain to a loss as payrolls fell by 10,000. The revisions in total showed 60,000 fewer jobs than previously reported. Market reaction was swift to the report, with traders interpreting the soft jobs numbers as good news as they likely further cemented the Federal Reserve staying put at its October meeting. Stock futures rose sharply after the release while Treasury yields slumped after recently rising to levels not seen since the early part of the century. Market-implied odds that the Fed will hold rates steady at its Oct. 27-28 meeting jumped to 82.8%, according to the CME Group's FedWatch tool. "For the Fed, this number should be the nail in the coffin for an October hike," Thomas Simons, chief U.S. economist at Jefferies, said in a note. "The payroll data surged in August, and we had expected the momentum to continue this month, given the historically low prints on jobless claims in recent weeks," he added. "However, it now appears that the August number was nothing more than a rebound from very weak hiring in June and July." Fed officials more closely watch the unemployment rate than the headline payrolls numbers. The household survey, which is used to calculate the jobless level, was considerably better than the establishment survey, which is used to derive the payrolls count. Household employment rose by 406,000 for the month, while the labor force swelled by 485,000 and the participation rate, which counts those working or actively searching for a job as a share of the total labor force, increased 0.2 percentage point to 61.8%, its highest since May. An alternative measure of unemployment, which includes discouraged workers and those holding part-time jobs for economic reasons, edged down to 7.6%, its lowest since January 2025. The report comes with Federal Reserve officials weighing the state of the economy and how it should affect their next interest rate move.

Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2%
North America
Yahoo Finance

S&P 500, Nasdaq, Dow End Week Higher As Weak Jobs Report Cools Rate Hike Bets — NVDA, BA, SPCX, RIVN, APLD In Focus

U.S. stock indices ended higher on Friday as employment data showed the economy added fewer jobs than expected, easing fears of an October rate hike. The S&P 500 ended Friday 0.7% higher, the Nasdaq 100 rose 1%, and the Dow Jones Industrial Average added 0.5%. The Russell 2000, which tracks small-cap stocks, gained 0.9%. Retail sentiment on Stocktwits for QQQ, SPY, and DIA was ‘bullish’ with ‘high’ message volumes. Unemployment data for September came in below economists' expectations on Friday, with jobs rising 29,000 last month and unemployment climbing to 4.2%. The Dow Jones consensus called for jobs growth of 84,000 and for the unemployment rate to hold steady at 4.1%. “September’s disappointing employment report showed renewed slowing in job growth heading into the fall, potentially foreshadowing enough moderation in economic activity to delay additional Federal Reserve interest-rate hikes,” Jennifer Timmerman, senior investment strategy analyst at Wells Fargo Investment Institute, told Bloomberg in an interview. This, along with multiple commentaries from Federal Reserve executives, helped calm bets of an interest rate hike in the upcoming October meeting. The probability of an October hike significantly dropped to 22% on Friday from 64% a week ago. Public addresses by Federal Reserve Vice Chair Philip Jefferson and New York Fed President John Williams conveyed a shared belief that policymakers have ample room to evaluate economic indicators before considering further policy tightening. The remarks successfully reined in Wall Street's expectations for a rate increase later this month, illustrating that market participants remain highly attentive to messaging from key central bank leaders. Treasuries also cooled slightly in early trading on Friday before inching higher, limiting the day’s gains. The benchmark US 10-year Treasury yield ticked up 4 basis points (bps) to close at 5.28%, while the 30-year paper ended at 5.62%. The iShares 20+ Year Treasury ETF (TLT) fell 0.3%. The Federal Aviation Administration (FAA) has determined that a new Boeing (BA) 737 MAX software glitch does not pose a flight-safety issue, The Wall Street Journal reported. Space Exploration Technologies (SPCX) climbed sharply on Friday, as investors priced in a rare burst of launch activity and the start of large artificial-intelligence computing contracts. Nvidia Corp. (NVDA) presents a compelling buying opportunity for investors after a notable divergence between its underlying business performance and its relative market valuation, Stephanie Link, Chief Investment Strategist at Hightower Advisors, explained in an article published on CNBC.

S&P 500, Nasdaq, Dow End Week Higher As Weak Jobs Report Cools Rate Hike Bets — NVDA, BA, SPCX, RIVN, APLD In Focus
North America
CNBC Finance

David Ellison just brought in a co-CEO to run his new empire: Meet Ynon Kreiz

David Ellison has spent two years fighting to build his media empire. Now, he's bringing in a heavyweight to help him run it. Ynon Kreiz, outgoing CEO of Mattel, will serve as co-CEO of the combined Paramount Skydance and Warner Bros. Discovery, to be named simply Skydance, when the merger closes on Tuesday. The new entity will unite the storied film studios of Paramount and Warner Bros.; the CBS broadcast network; a sprawling portfolio of pay-TV networks that include CNN, TNT, MTV and BET; and streaming services Paramount+ and HBO Max, all under one roof. The appointment of Kreiz to a top executive position alongside Ellison speaks to a governance question that has surrounded Ellison's aggressive pursuit of the legacy media assets: The tech executive and son of billionaire Larry Ellison can buy it, but can he lead it? Not even 18 months ago, Ellison was the CEO of film production company Skydance with a limited portfolio of hits, namely the Tom Cruise-led Mission: Impossible franchise and "Top Gun: Maverick." By August 2025, he was successfully closing an acquisition of Paramount, a deal worth around $8 billion. Roughly a month later, he started his campaign for WBD, spurring a back-and-forth bidding war that would ultimately result in a deal worth roughly $110 billion on an enterprise basis to merge two of Hollywood's biggest media companies. Kreiz is a 30-year veteran of the media space, arguably best known for ushering "Barbie" to the big screen in 2023. He's earned a reputation as a turnaround man, with roots in entertainment despite his more recent stint in consumer goods. He joins Paramount Skydance on Monday, and becomes co-CEO on Tuesday upon closing. Many on Wall Street have lauded Kreiz for reviving toymaker Mattel through various cost-cutting measures, though others question if his previous entertainment experience is enough to help navigate Skydance through this merger — and how successfully he and Ellison will share the duties. "We view the appointment of Ynon Kreiz positively, as his operating experience and brand/IP focus uniquely position him to help lead the integration of Paramount Skydance and WBD and build the combined business into a best-in-class content and IP platform," said Matthew Condon, analyst at Citizens Bank, in a research note published this week. Ellison's focus will be on the company's long-term strategy, creative vision, technology and capital allocation, and Kreiz will be responsible for the company's day-to-day management and the integration of the combined businesses, the company said in announcing his role. "Kreiz has extensive experience in media and entertainment from before his time at Mattel," Matthew Dolgin, senior equity analyst at Morningstar, wrote in a research note this week. However, "We don't necessarily think he is the best conceivable choice to handle this task."

David Ellison just brought in a co-CEO to run his new empire: Meet Ynon Kreiz
North America
Yahoo Finance

Nasdaq Hits Fresh Ground on Chip and Software Strength as Dow, Small Caps Lag for the Week

Stock Preachers News Commentary - Big technology names pulled the Nasdaq Composite to a weekly gain while the Dow Jones Industrial Average and Russell 2000 closed the week in the red, underscoring a narrow rally as the quarter turned over. The S&P 500 slipped from its prior week's close despite a strong Friday session. Volatility eased, with the VIX down on the day, while crude oil fell sharply and the 10-year Treasury yield ticked higher. Several companies issued contracts, guidance updates, an

Nasdaq Hits Fresh Ground on Chip and Software Strength as Dow, Small Caps Lag for the Week
North America
Yahoo Finance

Jim Cramer Warns Q3 ‘Earnings Deluge’ May Not Be As Strong As Previous Quarter — ‘Much More Difficult Backdrop’

Jim Cramer warned investors Friday to brace for a potentially tougher third-quarter (Q3) earnings season, saying rising interest rates and the Federal Reserve's ongoing fight against inflation have created a more challenging backdrop for corporate results. Cramer’s warning comes as major U.S. banks prepare to kick off the Q3 earnings cycle on Oct. 14, with JPMorgan Chase & Co. (JPM), Wells Fargo & Co. (WFC), Citigroup Inc. (C) and Goldman Sachs Group Inc. (GS) among the first major companies to report. Cramer said investors should not expect the same strength they have become accustomed to. “We’re on the verge of the earnings deluge and, this time, I don’t think we’ll be getting the kind of strong numbers that we’ve become accustomed to,” Cramer said on Friday on CNBC's “Mad Money.” Cramer's warning comes against a mixed market backdrop, with the S&P 500 having posted declines in three of the past four weeks, while the Dow Jones Industrial Average has declined in four of the past five weeks. The Nasdaq Composite has been the exception, posting back-to-back weekly gains as AI and technology stocks continue to provide concentrated market leadership. “Thanks to rising rates and [a Federal Reserve] that’s determined to bring down inflation, we’ve got a much more difficult backdrop coming up for earnings season,” Cramer said. However, data from the CME FedWatch tool shows that the odds of a 25 basis point rate hike in the Federal Open Market Committee (FOMC) meeting later this month are 22.1%. Cramer stressed that investors can still make money in the current environment, but said doing so will be more difficult than it has been. “I’m not saying it’s impossible to make money owning stocks in this environment, but it’s certainly a lot harder than it used to be,” he said. Despite his broader caution, Cramer sees an important event on Tuesday when Marvell Technology Inc. (MRVL) holds its investor day. The semiconductor company, which develops custom AI chips and networking technology, is expected to provide updated long-term targets under CEO Matt Murphy. Cramer said the presentation could highlight how deeply Marvell is becoming embedded in the massive data-center buildout driven by AI. “I bet his presentation will be very strong, with big reverberations throughout the hyperscaler world,” he added.

Jim Cramer Warns Q3 ‘Earnings Deluge’ May Not Be As Strong As Previous Quarter — ‘Much More Difficult Backdrop’
North America
CNBC Finance

David Ellison says combined Paramount and Warner Bros. Discovery will be named Skydance

Paramount Skydance CEO David Ellison announced Friday that upon closing his company's merger with Warner Bros. Discovery next week, the combined entity will be named Skydance. It's a full-circle moment for a company that has undergone two major acquisitions within the last 18 months. "Paramount and Warner Bros. shaped over a century of culture," Ellison wrote in social media post Friday. "By combining them, we aren't rewriting history — we're equipping these iconic studios with a more powerful engine. Together, we are Skydance: a creative-first home for bold, quality storytelling." Ellison noted the new name allows the company to preserve Paramount and Warner Bros. as distinct studios. The merged company will trade under the new ticker "SKYD." "We never wanted a new corporate identity to diminish, alter or overshadow either one," he said. "Instead, we wanted a name that would give the combined company an identity of its own while allowing Paramount and Warner Bros. — and all our extraordinary brands — to remain in the spotlight." The Paramount and Warner Bros. studios together are set to release 35 films next year, according to data from Rentrak. In August 2025, Ellison's Skydance — the production company behind the Mission: Impossible movies and "Top Gun: Maverick" — closed its acquisition of Paramount. Weeks later, the CEO set his sights on Warner Bros. Discovery in a takeover effort that would ultimately spark a bidding war. In February, Paramount Skydance and Warner Bros. Discovery struck an agreement worth roughly $110 billion on an enterprise basis. After settling a legal challenge brought by a group of state attorneys general, Paramount Skydance said this week the deal is expected to close on Tuesday. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

David Ellison says combined Paramount and Warner Bros. Discovery will be named Skydance
North America
CNBC Economy

Men are losing ground in the labor market. Here's why

Women outnumbered men in the workforce for eight straight months as of September, according to an analysis of government data by Indeed. That's the longest stretch since 2010, the job search platform found. "Back then, the gap emerged because men were losing jobs," said Cory Stahle, senior economist at Indeed. "This time, it's because women are gaining them." Across the board, the Bureau of Labor Statistics said Friday that U.S. payrolls grew by 29,000 jobs on net in September, lower than economists consensus forecast for an increase of 84,000. Men represented slightly over half of net job growth in September, according to a CNBC analysis of Friday's BLS data. A month prior, men represented just 2% of payroll growth. Despite the monthly increase, the seasonally adjusted number of employed men in the U.S. was lower by about 1.2 million in September compared with a year ago. Women's employment rose by more than 650,000 in the same period. This divergence in labor market performance by gender can be partially explained by which industries are growing, according to Stahle. Healthcare, a key driver of the U.S. job market for the last several years, accounted for more than half of overall payroll expansion in September. Women make up nearly four out of every five workers in the sector. But the BLS said in its Friday release that healthcare hired at a slower pace in September than on average over the past year. Because of that, women may not have gotten as big of a boost from the sector as they did in prior months. Monthly payroll contraction in industries with a higher share of women workers like government also diluted overall gains for women in the month, Stahle said. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Men are losing ground in the labor market. Here's why
Europe
BBC Business

G7 to release millions of barrels of oil and diesel after Trump threat

Image source, PA MediaByArchie Mitchell and Lucy Hooker, Business reportersPublished2 October 2026Updated 7 hours agoThe G7 has announced 100 million barrels of oil and diesel will be released to ease supply concerns that have caused prices to skyrocket. It includes a "substantial release" of diesel within 20 days, with discussions around "additional diesel releases as necessary", G7 leaders said in a statement. The group of advanced economies, including the US, said the move would begin immediately and would last for four months. Under the measures, which come after US President Donald Trump had threatened to ban diesel exports, there will not be any "export restrictions on energy and energy products" between G7 members. The G7 includes the US, UK, Canada, Japan, Germany, Italy and France, with the EU also represented at its meetings. Donald Trump had warned he would ban diesel exports from the US if European countries did not agree to put more of their own stocks onto the market. That would have eased pressure on prices for US consumers ahead of November's midterm elections, but pushed up prices elsewhere. On Friday, he said on social media: "Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately." His Treasury Secretary Scott Bessent had argued US farmers, truckers, and businesses "should not be left carrying the burden" as prices soar. Speaking later at the White House, Trump said an export ban on diesel was "never really on the table". Referring to the decision by the G7 to release fuel from reserves, he added that "what Europe did was a great thing." "Europe has a lot of diesel and they're going to be making a major world contribution - and so are we," he said. "And we're not going to be doing the export ban, we're going to be doing what we're supposed to do."

G7 to release millions of barrels of oil and diesel after Trump threat
North America
CNBC Finance

Burger King is betting on local franchisees to fuel its U.S. comeback

When Jeremy Kline was 15, he started as a crew member at Taco Bell. In the decades since then, he worked his way up the restaurant industry to director of franchising for Burger King North America. These days, he is on the other side of the aisle as one of the burger chain's newest franchisees, after buying 16 locations in the Salt Lake City area in February. Kline is one of the new operators betting on Burger King as it embarks on a U.S. comeback. The burger chain is on track to sell about 200 company-operated restaurants to franchisees by the end of the year as part of a broader refranchising initiative, and buyers like Kline will be critical to the plan. Since late 2022, Burger King has embarked on a turnaround strategy focused on revamping its marketing, improving food quality and renovating restaurants. The comeback has already started to pay off; Burger King recently overtook Wendy's as the number two burger chain in the U.S., based on system sales. To accelerate the modernization of Burger King restaurants, its parent company Restaurant Brands International bought the chain's largest U.S. franchisee, Carrols Restaurant Group, in 2024 for roughly $1 billion. The Carrols deal added 1,023 company-owned locations to the 175 that Restaurant Brands already held at the time, largely acquired during franchisee bankruptcy sales as Burger King struggled before its turnaround. Restaurant Brands always planned to sell most of those restaurants back to smaller, local franchisees. Ultimately, Burger King wants to end up with about 300 company-operated restaurants; franchisees will run the rest of its more than 6,000 locations in the U.S. In other words, the future of Burger King rests on the shoulders of its franchisees at a time when slow traffic, elevated inflation and high interest rates make running a restaurant a challenging proposition. "A franchising contract is 20 years. The average marriage in the U.S. is 8.2. So you got to get it right," Burger King U.S. President Tom Curtis told CNBC. Over the last year, shares of Restaurant Brands have risen about 6%, lifted by strong international growth and green shoots for Burger King's U.S. comeback. For comparison, shares of rival McDonald's have tumbled 23% over the same period, although its market cap is still more than six times larger than Restaurant Brands'. In its latest quarter, Burger King reported domestic same-store sales growth of 8.5%, while McDonald's U.S. same-store sales rose just 0.8%. Refranchising the Burger King restaurants could help send Restaurant Brands' shares even higher. Selling off locations generates cash for the company. It also results in an asset-light model that typically means higher earnings for the chain and its parent company. And most importantly, franchisee-operated locations usually report better results than those run by a company because franchisees are personally invested in their success. "Getting these stores in the hands of better operators is a key part of the turnaround," TD Cowen analyst Andrew Charles said.

Burger King is betting on local franchisees to fuel its U.S. comeback