U.S. job growth slowed sharply in May and wages rose less than expected, raising fears that a loss of momentum in economic activity could be spreading to the labor market, which could put pressure on the Federal Reserve to cut interest rates this year.
Major world stock indexes jumped and U.S. Treasury yields tumbled on Friday after a slowdown in U.S. job growth fueled hopes of a U.S. interest rate cut, while Washington's move to delay tariffs on Chinese goods added to equity market optimism.
FedEx Corp said on Friday it has decided to not renew its contract with Amazon.com Inc for U.S. cargo delivery through FedEx Express.
Oil prices rose nearly 3% on Friday, climbing further from five-month lows hit this week, after Saudi Arabia said OPEC was close to agreeing to extend an output production cut beyond June and as Wall Street rallied.
FedEx Corp said on Friday it has decided to not renew its contract with Amazon.com Inc for U.S. cargo delivery through FedEx Express, the unit that delivers packages on planes.
Weak U.S. hiring data led investors to raise bets on Friday the U.S. Federal Reserve will cut interest rates later this year to stave off a recession. Is the U.S. economy really showing signs of rolling over?
Major world stock indexes jumped and U.S. Treasury yields tumbled on Friday after a slowdown in job growth fueled hopes of a U.S. interest rate cut, while hints of progress in Washington's trade fights added to equity market optimism.
Wall Street's major indexes charged higher on Friday, as sharply slowing U.S. job growth boosted hopes for Federal Reserve interest rate cuts while optimism about potential progress in U.S. trade fights with China and Mexico added to risk appetites.
Walmart Inc Chief Executive Doug McMillon said on Friday the retailer was concerned that fresh produce prices would rise if tariffs are placed on imports from Mexico.
U.S. and Mexican negotiators resumed migration talks on Friday to try to avert a potential trade war that could hurt both countries' economies and rattle investors already nervous about Washington's escalating battle with China.
U.S. President Donald Trump said on Friday there was a "good chance" the United States would make a trade deal with Mexico, but that if the two countries failed to make an agreement a 5% tariff would be imposed on Mexican imports on Monday.
A flood of companies eyeing Mexico as a safe haven from the U.S. trade war with China risks evaporating after President Donald Trump last week threatened to unleash tariffs on Mexico too.
Kraft Heinz Co said on Friday the company's internal investigation into its procurement practices and internal controls assessment is now complete and expects to report its quarterly results on or before July 31.
Talks between Mexico and the United States to stave off tariffs dragged on Friday as negotiators battled over a U.S. demand that Mexico accepts more Central American migrants under a concept know as "safe third country," two Mexican sources said.
Kraft Heinz Co said on Friday the numbers it restated last month were accurate following completion of an internal investigation, but that the matter was under review by the U.S. Attorney's Office.