(Reuters) - An unexpectedly weak U.S. employment report, featuring a post-pandemic high in the jobless rate, has rekindled worries a recession may be in the offing that would dash the Federal Reserve's hoped-for soft landing for the economy. With stock markets reeling on the premise the Fed has now kept interest rates too high for too long, a Goldilocks outcome...

(Reuters) - GlobalFoundries ( GFS ) marginally beat Wall Street expectations for second quarter revenue on Tuesday but forecast third-quarter adjusted profit below expectations, indicating a slower-than-anticipated recovery in chip demand. The contract chipmaker reported a 11.5% decline in net revenue for the second-quarter as inventory levels at its customers in the Home and Industrial Internet of Things (IoT), smart...

07:40 AM EDT, 08/06/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Tuesday ahead of the release of international trade data for June at 8:30 am ET and weekly Redbook same store sales at 8:55 am ET. Consumer sentiment data for August follows at 10:00 am ET and the Atlanta Federal Reserve is expected to...

Claudia Sahm, the economist who invented the Sahm Rule, has contradicted claims of a recession in the U.S. economy. This comes amid mounting fears of a recession due to recent market instability. What Happened: Sahm, who is known for developing the Sahm Rule, a key indicator used to predict the onset of a recession, has stated that she does not...