Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Just two days after Fed Chair Jerome Powell refused to pre-commit to a September rate cut, the U.S. labor market did it for him. A weak July jobs report and the biggest downward 2-month revisions since 2020 have economists—and markets—racing to President Donald Trump’s side on calling for lower interest rates. The U.S. economy added just 73,000 jobs in July, far below the 110,000 expected. But the real shock came from the Bureau of Labor Statistics revising May and June non-farm payrolls down…
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Watch: Trump defends firing of Bureau of Labor Statistics head over “wrong” numbersUS President Donald Trump said he would fire the head of the agency charged with publishing some of America’s most closely watched economic data, after a weaker-than-expected jobs report stoked further alarm about his tariff policies. In a post on social media, Trump – without evidence – accused the commissioner, Erika McEntarfer, of manipulating jobs figures for political reasons.The decision shocked Wall Street and raised alarm about White House interference in economic data at a time when many forecasters are predicting Trump’s tariffs will hurt the economy. It…
A surprisingly lackluster jobs report Friday morning left CNBC’s Jim Cramer with one key takeaway: The Federal Reserve needs to cut interest rates. “We have very little job growth, and we have wages that are not going up,” Cramer said during “Squawk on the Street.” “That is when you cut.” Before the open, the government reported nonfarm payroll growth of 73,000 in July — much weaker than the 100,000 economists had expected. May and June were revised down a combined 258,000. The nation’s unemployment rate ticked up, as expected, to 4.2% last month. Wages, as measured by average hourly earnings,…
DevvStream Corp. (Nasdaq: DEVS), a publicly traded carbon management firm, has allocated $10 million to Bitcoin and Solana as part of a broader initiative to tokenize environmental assets using blockchain technology [1]. The investment, drawn from a portion of the company’s $300 million credit facility, marks the initial phase of a strategic shift toward integrating digital assets into its financial and operational framework. The firm aims to leverage blockchain’s efficiency and transparency to tokenize large-scale carbon credits, creating a new model for green finance [2].The decision to invest in both Bitcoin and Solana reflects a diversified approach to digital asset…
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DevvStream, a Nasdaq-listed firm focused on carbon reduction and removal, has allocated $10 million to Bitcoin (BTC) and Solana (SOL) to support its carbon credit tokenization initiative. This strategic move underscores the company’s commitment to leveraging blockchain technology to enhance transparency, liquidity, and accessibility in the carbon credit market. The investment reflects growing institutional interest in crypto assets and highlights the potential for digital innovation to address global environmental challenges [1].Carbon credit tokenization involves converting traditional carbon credits into blockchain-based digital tokens. This transformation allows for fractional ownership, automated transactions via smart contracts, and real-time tracking of each credit’s lifecycle,…
Wall Street strategists are sharply recalibrating their economic outlooks after Friday’s July jobs report showed weaker-than-expected hiring and staggering downward revisions to prior months’ data, suggesting the labor market may be losing steam at a quicker pace than previously thought. The US economy added just 73,000 jobs in July, far below the 104,000 expected by economists. But the bigger surprise came from revisions to the May and June figures, which collectively erased 258,000 jobs. This marked the largest two-month downward revision since May 2020. Sarah House, senior economist at Wells Fargo, called the July jobs report “a dud” in a…
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