JPMorgan Chase trader Frederick Reimer works on the floor of the New York Stock Exchange. The government's monthly jobs numbers won't be released as scheduled Friday, leaving financial markets without key data to evaluate the economy.
Originally published on Thu October 3, 2013 1:32 pm
Stock investors and business journalists unite each month for one shared, suspenseful moment — the 8:30 a.m. release of the Labor Department's employment report.
The unveiling of the report — so rich with data on job creation, unemployment, wages and hours — can be counted upon to set off a tsunami of tweets. Economists jump in with instant analysis and politicians fire off press releases with reactions.
Originally published on Thu October 3, 2013 2:07 pm
Newly formed Tropical Storm Karen, which could reach hurricane strength by Friday, is expected to make landfall on the U.S. Gulf Coast sometime over the weekend.
The National Hurricane Center in Miami says the late-season storm formed Thursday morning about 485 miles south of the Mississippi Delta, with maximum sustained winds of 65 mph. It was moving north-northwest at 12 mph, but was expected to speed up.
Forecasters say it will make landfall in the U.S. either Saturday or Sunday.
Originally published on Thu October 3, 2013 3:30 pm
The Treasury Department is issuing a warning of dire economic consequences that could rival the Great Recession if Congress is unable to agree on raising the debt ceiling and the nation defaults on its obligations.