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September Sucks
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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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.
KEEP READING
Fed Governor Waller backs interest rate cut at September meeting, open to larger move (CNBC)
Home listings are up more than 60% in some cities. Here’s where (CNBC)
How To Negotiate With Debt Collectors (ML)
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