NEW YORK (Reuters) -Uncertainty over the U.S. economy's health is rippling through markets, adding fuel to an already-volatile period that has investors grappling with a shift in Federal Reserve policy, a tight U.S. election and worries over stretched valuations. U.S. stocks tumbled on Friday after closely watched jobs data showed labor market momentum slowing more than expected, suggesting a narrower...

In August, the Biden administration reported a drop in the unemployment rate to 4.2%, indicating that the labor market remains resilient despite weaker-than-expected employment growth. This has tempered expectations for a major Federal Reserve rate cut this month. However, rising public skepticism toward government data complicates the picture. Recent data from Google Trends shows that searches for terms like “unemployment”...

Amid concerns over the U.S. labor market, Treasury Secretary Janet Yellen has reassured the public about the economy’s resilience, despite recent weak job reports. What Happened: Yellen assured the public of the U.S. economy’s strength, despite recent weak job reports. Speaking at the Texas Tribune Festival in Austin, Yellen said, “We’re seeing less frenzy in terms of hiring and job...

03:10 PM EDT, 09/09/2024 (MT Newswires) -- July wholesale inventories were revised down to a 0.2% increase from a 0.3% gain in the advance reading, compared with expectations for no revision. At the same time, wholesale sales increased by 1.1%, faster than a 0.3% gain expected, with petroleum sales up 3.9%. Combined with already released data for the retail and...