The S&P Global US Services PMI came in weaker-than-expected for March, with a reading of 51.7. S&P Global Market Intelligence Chief Business Economist and Executive Director Chris Williamson joins Yahoo Finance Live to discuss the potential implications of this data onWilliamson states that recent inflation data points indicate 2024's first quarter experienced"robust growth.
So what you've got here is this persistent wage pressures with this tight labor market. Just look at those ISM data. You've got very strong new orders of growth and activity growth, but falling employment. This is because firms just can't get those staff, so they're having to pay them more. So that's going to really make for an interesting discussion as to whether June is the month where we'll see the first cut. We still think that's on. We still think the headline numbers are going to calmed down sufficiently to generate that. And then hopefully, by then, the labor market will be starting to cool, the wage data in particular, as those headline inflation numbers bring down the wage bargaining power for new pay deals.
Loblaw Companies Limited announced today that it will release its 2024 first quarter results on May 1st, 2024, at approximately 6:30 a.m. . The release will be followed by a conference call at 10:00 a.m. , as well as an audio webcast.Rated lowest margin fees by StockBrokers.com. Borrow against your securities at low cost. Rates subject to change. Your capital is at risk.Paramount Global is reportedly in exclusive acquisition talks with Skydance Media, according to the New York Times.
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