TLDR

MARKET RECAP → Stocks fell Friday, as the S&P 500 notched its worst week since March 2023. Investors are mulling over the implications of a softer August jobs report. Remember: historically speaking, September tends to be one of the worst-performing months for stocks.

JOB GROWTH SLOWS IN AUGUST → 📉 August 2024 nonfarm payrolls grew by 142,000, below expectations, while the unemployment rate came in at 4.2%, compared to 4.3% in the month prior but elevated compared to a year ago.

GOOGLE FACES SECOND ANTITRUST TRIAL → ⚖️ Google is heading into a second antitrust trial, this time over its advertising model, with regulators arguing that its dominance stifles competition and raises ad costs across the market.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Job Growth Slows in August

📉 The August 2024 jobs report showed slower-than-expected growth, with nonfarm payrolls increasing by 142,000, signaling a potential cooling in the labor market.

📊 The unemployment rate came in at 4.2%, compared to 4.3% in July 2024 and 3.8% in August 2023.

🔄 Wage growth increased by 3.8% for the month, compared to a 3.6% advance in the prior month and surpassing expectations of 3.7%.

TODAY’S TOP NEWS

Google Faces Second Antitrust Trial

⚖️ Google is set for its second major antitrust trial, this time focusing on its advertising model, as the government challenges its dominance in the digital ad market.

💰 The trial scrutinized how Google’s advertising practices may have stifled competition and potentially harmed consumers by driving up ad costs across its vast ecosystem.

🕵️‍♂️ This legal battle highlighted increasing regulatory pressure on Big Tech, with Google’s outcome possibly reshaping the future of online advertising and setting precedents for the industry.

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