. Against the expected unemployment rate of 4.1%, the rate increased to 4.3%, down from June’s 206,000 to 114,000 job gains.
Lastly, Sahm Rule, the heuristic macroeconomic indicator based on unemployment rate variance, crossed the threshold with the latest job numbers. This has historically pointed to recession. Although the Federal Reserve seems to be anticipating this scenario with a possible interest rate cut as early as September, there are certain investing strategies shareholders should consider.
Ending May 12th earnings, Costco reported continued growth, with the company’s sales having increased by 5.4% while the e-commerce division increased by 14.7% for 36 weeks adjusted. In other words, the company beat earnings per share for four consecutive quarters. Despite signs of already waning consumption, Costco’s net income increased from $1.3 billion in the year-ago quarter to $1.68 billion.
On July 26th, the company delivered its Q2 2024 earnings, showing a 4.9% increase in net sales. Colgate-Palmolive’s net income increased from $502 million to $731 million from the previous year. Having beaten another earnings per share estimate at 4.6% surprise, CL stock gained 25% value year-to-date.
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