U.S. job creation cools in June with payrolls growth of just 57,000; unemployment rate at 4.2%

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The U.S. economy saw job creation cool sharply heading into the summer, the Bureau of Labor Statistics reported Thursday. Nonfarm payrolls for June increased by a seasonally adjusted 57,000 for the month, slower than the downwardly revised 129,000 added in May and worse than the 115,000 Dow Jones consensus forecast. The unemployment rate, however, dropped to 4.2%, slightly ahead of the 4.1% where it was a year ago. The move lower was largely due to a slump in the labor force participation rate, which dropped 0.3 percentage point to 61.5%, the lowest since March 2021. Household employment plummeted during the month, with 507,000 fewer people reported at work. A broader unemployment measure that includes discouraged workers and those holding part-time jobs for economic reasons declined by 0.2 percentage point to 7.9%. Prior months also saw significant downward revisions the May total, which had been much stronger than economists had anticipated, was cut by 43,000, while April's figu...

Stocks making the biggest moves premarket: Sandisk, Robinhood, Palantir & more

Stocks making the biggest moves premarket: SNDK, HOOD, PLTR Skip Navigation Markets Business Investing Tech Politics Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves premarket: Alphabet The parent company of Google was lower by 1% after the subsidiary lost a European antitrust case , where a court upheld Google's fine of 4.1 billion euros ($4.67 billion). The fine comes from a 2018 decision by the European Commission to punish Google for what it saw as anticompetitive practices by the company through giving its own applications unfair advantages in Android products. Bending Spoons Shares of the Italian technology company were off 7% after its public market debut on Wednesday. The stock soared almost 40% from its IPO level on Wednesday. AeroVironment The defense technology company rose 4% after it won a $500 million contract with the U.S. Army. The contract is to develop counter-drone capabilities to the military. Palantir Shares jumped more than 3% after a D.A. Davidson upgrade to buy from neutral. Analysts at the firm also said they view the stock's valuation as the most attractive in some time. Shares were pacing to end the shortened trading week up more than 15%. Strategy , Coinbase The stocks were higher as bitcoin prices crossed $61,000, now pacing for a two-day rally totaling 4.5%. Crypto treasury company Strategy rose 6%, while trading platform Coinbase was up more than 3%. Robinhood Bitcoin's rally wasn't the only contributor to Robinhood's rise in premarket trading Thursday, as analysts at Mizuho hiked their price target to $130 for the stock. Analysts said that Robinhood has the chance to become the "hyperscaler" of online brokerages, noting the possibility of gaining dominance across borders rather than within one singular country. Memory stocks Shares of a slew of companies were again lower on Thursday after they tumbled on Wednesday as investors took some profits as the second quarter began. Sandisk , which fell more than 10% on Wednesday, was off 3.5% in premarket trading Thursday. Western Digital and Seagate Technology fell 2.5%, after shares fell 6% and 5% on Wednesday, respectively.

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