Market Tumbles After Jobs Report & Nasdaq Wants to Trade Around the Clock
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Why did the jobs report cause the market to tumble?
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Good morning, Brew Daily Show.
What are the implications of the rising unemployment rate?
I'm Neil Freiman. And I'm Toby Howell. Today, who's going to be the next Fed chair? Probably a guy named Kevin.
Then after a long delay, the jobs report is finally here and it kind of stinks. It's Wednesday, December 17th. Let's ride.
Let's say you're watching a TV show and you'd want to avoid spoilers. Maybe you'll stay off the internet for a bit or avoid talking to friends who are ahead of you. But there's another place you may want to stay away from, Google Earth.
Who are the leading candidates for the next Fed chair?
Fans of the hit Apple show Pluribus are confronting the fact that Google Earth's historical imagery reveals a major plot point in episode seven, if you zoom in on the fake neighborhood outside of Albuquerque that was used for the set. I'm not going to tell you what it is, of course, but Toby, this has got me spooked. I'm still in the middle of Lord of the Rings, and I'm totally going to stop my Google Maps Street View tour of Osgiliath.
What people do with their free time astounds me. How does one even remotely begin to, one, find the set, and then, two, know to go back through old historical satellite imagery to then stumble upon a spoiler alert? I wonder what other shows, though, you could spoil with some good old historical Google Earth data. Red Wedding, Game of Thrones. You know what? I'm just going to hold my tongue there because apparently I've spoiled shows on our show before, namely the ending of The Summer I Turned Pretty.
What are the pros and cons of Nasdaq's 24-hour trading proposal?
So I'd rather you direct your ire towards Google Earth than towards Toby Howell. But now a word from our sponsor, Public. Now, remember when we said we'd start doing more adult things this year?
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How do Uber and DoorDash plan to combat the new tipping law?
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What are the potential impacts of the tipping law on delivery workers?
is that the unemployment rate rose to 4.6%. That is up from 4.4% the month prior in the highest level since September 2021, when the country was still emerging from the pandemic. A steady rise in unemployment suggests the labor market is seeing a structural weakening, aka the exact kind of move that the Fed is hyper-attuned to, as it indicates a broader slowdown, not a one-off blip. It remains a lumpy job market out there. Some sectors like healthcare and hospitality are still crushing it, while other areas like manufacturing remain anemic. The federal government, for instance, saw a decline of 162,000 jobs over the last month as workers affected by Doge
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Chapters
8 chapters
1
Why did the jobs report cause the market to tumble?
0:01–0:38
2
What are the implications of the rising unemployment rate?
0:38–1:10
3
Who are the leading candidates for the next Fed chair?
1:10–2:01
4
What are the pros and cons of Nasdaq's 24-hour trading proposal?
2:01–2:31
5
How do Uber and DoorDash plan to combat the new tipping law?
2:31–3:23
6
What are the potential impacts of the tipping law on delivery workers?
3:23–4:19
7
How does the market react to changes in delivery worker compensation?
4:19–5:02
8
What are the latest headlines affecting the financial landscape?
5:02–28:39
Speakers
2 identifiedMore from Morning Brew Daily
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