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Yahoo
11 hours ago
- Business
- Yahoo
Tariff deadline, jobs report, Exxon earnings: What to Watch
Market Domination Overtime host Josh Lipton takes a look at the top stories for investors to watch on Friday, Aug. 1. Friday is President Trump's self-imposed trade deal deadline. A host of trade deals was announced on Thursday, while markets wait to hear more. The July jobs report will be released in the morning. Economists are expecting a decrease in nonfarm payrolls and a slight uptick in both unemployment and hourly wages. Exxon (XOM), Chevron (CVX), Moderna (MRNA), and more will be posting quarterly earnings results in the morning. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime. Time now for to watch Friday, August 1st, going to start off on the trade landscape. President Trump self-imposed trade deal deadline. It's coming up on Friday. New standard of 15% tariffs on foreign goods is taking shape, including recent deals with the EU and South Korea. Also, Trump on Thursday extending Mexico's 25% tariffs for 90 days as trade negotiations continue. And turning to the labor force, the monthly jobs report for July is coming out on Friday. Com is forecasting non-farm payrolls to dip to 104,000, while unemployment and hourly wages both tick up to 4.2 and 0.3% respectively. The new data coming after the Fed held interest rates steady for July on Wednesday, pausing at the post decision press conference that unemployment remains low, and that the labor market is still solid. On the earnings front, we'll be getting another batch of earnings on Friday that include names in the energy sector like Exxon, Chevron and Enbridge. Exxon announced results for the second quarter, analysts expecting Exxon's oil production business to be weighed down in the second quarter by lower oil prices. Related Videos JPMorgan, Coinbase Agree to Link Bank, Crypto Accounts HK Housing Market Yet to Bottom: Hang Lung's Chan Applied Digital, Carvana, Roblox: Trending Tickers Trump Gives Mexico 90-Day Reprieve from Tariffs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 hours ago
- Business
- Yahoo
Big Tech earnings surprise, jobs report focus: Market takeaways
Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend with Josh Lipton to look at three major takeaways from the trading day: the surprising strength of Big Tech earnings and the anticipation of Friday's jobs report. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Stocks closing lower as President Trump's tariff deadline and the July jobs report looms. Yahoo finances Josh Shafer joining us now with the trading day takeaways, Josh. Hey Josh, I looked earlier this morning, we had Nasdaq futures up over 1.3%. You had strong earnings out of meta, Microsoft, and it was, oh boy, here comes that AI tech rally, both the Nasdaq and S&P 500 were trading at records at one point today. That didn't quite actually play out with what ended sort of how the day ended. You mentioned there were some trade updates throughout the day, and that seemed to maybe grab some of the headlines, but I still want to focus on the two big beats, cuz you look at it here, meta up over 11% today. Of course, meta coming out with stronger than expected results, also stronger than expected guidance and boosting their capex. Same with Microsoft, Microsoft was up almost 8%, kind of got caught up in that broader selloff, but I wanted to highlight one chart that I think sort of helps explain what investors are looking at when it comes to these companies. I mean, these companies keep hitting record highs. Why are you still buying them? What's going on here? This was a great chart from Jeffries analyst Brent Thill. He highlights Azure growth or sorry, Azure beating estimates, how much did they beat estimates by for that cloud segment for Microsoft that increased 39% year-over-year. Up over four and a half percent for my surprise factor. Look at this chart Josh, that is abnormal, right? The street had come to expect that Microsoft's cloud segment was great, was going to continue growing. It was hard for Microsoft to surprise. Well, you add in this AI element, the segment gets even better than expected, you get this big beat. That's the kind of chart that an investor's going to like to see, right? That growth story is sort of reigniting when it comes to Microsoft right now. So if viewers are watching this and they're looking at these big tech reports and results and reactions for some of them and they're thinking, I don't know, did I miss my spot? I think right now, what we're hearing from some strategists, we spoke with Omar Aguilar from Charles Schwab earlier today, Julie Hyman and I did, he said no, he said, I'm still looking to get into Big Tech and finding opportunities within Big Tech. What Aguilar highlighted, which was rather interesting, is sort of the different parts of this AI trade, right? So even if we just look at our MAG 7 here, we can sort of highlight it. Amazon, Microsoft, meta, those are sort of and we could throw Alphabet in there too, right? Those are cloud plays. And he's saying he's more interested in cloud service type plays. If you look, if I can get over to our AI board here, I'll highlight to you how some of those stocks have been doing really over the last couple months. There's been a big rally in some of those names off the market lows. Look at a Super Micro Computer, that's involved sort of in that space. You also look at a DataDog, that's in that space, right? Salesforce, which I don't think is on here, had had a rally at one point. And so you're seeing that AI trade broaden out and continuing to hear people talk about services. How do I use AI as a service? Being interested in that space. Of course, chips, but also how do we use the AI, right? Cuz meta and Microsoft are certainly telling that story well. All right, Shafer bullet point number two. Josh, jobs report's coming. It's been a long week, but we have an NFP report tomorrow, the July jobs report. So expectations are for 105,000 payrolls, unemployment rate at 4.2, average hourly earnings essentially flat at 3.8. This would be a move higher from 4.1. And then unemployment, or sorry, that non-farm payroll number would be a little bit lower. Economists and previews, team over at Bank of America essentially saying, this is fine. It's not a red hot labor market by any means, but it's not falling off a cliff and it's Cooling, not crashing. and we're still sort of in that space if we get numbers like this. Cooling, not crashing. What did J. Powell have to say about that? J. Powell called the labor market solid yesterday, Josh, and he said that this, by the way, we should note, this is the number one thing he's watching right now. A very smart reporter over there asked him specifically, when I look at that report, Jay, what should I look at? He said the unemployment rate and the unemployment rate at 4.2 is in or 4.1 is in a good spot. And if that were to keep moving higher, that's when maybe the Fed would cut to sort of help out the labor. All right, we'll see what comes tomorrow. Thank you, Josh. Related Videos F5 CEO breaks down big Q3 earnings beat Coinbase, Reddit, Strategy: After-hours earnings movers Why this analyst gives Amazon's earnings report a B+ Amazon Earnings Are 'Mediocre,' Jefferies' Thill Says Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 hours ago
- Business
- Yahoo
Big Tech earnings surprise, jobs report focus: Market takeaways
Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend with Josh Lipton to look at three major takeaways from the trading day: the surprising strength of Big Tech earnings and the anticipation of Friday's jobs report. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Related videos Britain's gas imports surge as Miliband abandons North Sea Why Danes may have hit their limit on retirement age Is this thrillingly cheap FTSE growth share about to fulfil its massive potential? Bank of England set to split again in face of inflation, job risks Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
14 hours ago
- Business
- Yahoo
July jobs report expected to show hiring slowed while unemployment rate ticked higher
The July jobs report is expected to show hiring slowed during the month while the unemployment rate moved higher. The data's release will come as investors closely watch for any further signs of slowing in the US labor market amid growing debate over when the Federal Reserve will cut interest rates next. The Bureau of Labor Statistics data is slated for release at 8:30 a.m. ET on Friday. Economists expect nonfarm payrolls to have risen by 105,000 in July and the unemployment rate to have moved up to 4.2%, according to consensus estimates compiled by Bloomberg. In June, the US economy added 147,000 jobs. Meanwhile, the unemployment rate fell to 4.1%. Here are the key numbers Wall Street is expecting Friday, according to data from Bloomberg: Nonfarm payrolls: +105,000 vs. +147,000 in June Unemployment rate: 4.2% vs. 4.1% Average hourly earnings, month over month: +0.3% vs. +0.2% Average hourly earnings, year over year: +3.8% vs. +3.7% Average weekly hours worked: 34.2 vs. 34.2 "In our view, the labor market is moderating rather than deteriorating," BofA US economist Shruti Mishra wrote in a note to clients. "Elevated inflation should still keep the Fed on hold." The latest labor market data will be released just two days after the Federal Reserve opted to hold interest rates steady at its July meeting. Fed Chair Jerome Powell described the labor market as "solid" and pointed to a "historically low" unemployment rate as a key metric to watch when assessing the health of the jobs picture in America. Powell admitted job creation has shown slowing, but that has come with a decrease in labor supply due to less immigration, therefore keeping the broad labor market picture in balance. Recent data has reflected signs of this slowing. On Wednesday, data from ADP showed private payrolls grew by 104,000 in July, above the 75,000 expected by economists and a rebound from the 23,000 job losses seen in June. But as the chart below shows, overall hiring momentum has slowed in the private sector in recent months. "We are in a labor market that has recalibrated to a lower average level," ADP chief economist Nela Richardson told Yahoo Finance on a call with reporters. "The good news here is that that level is still solid enough to support the consumer, and that ultimately will be the tried-and-true test of the health of the labor market. Will consumers keep spending?" Elsewhere in labor market data, new data from the Bureau of Labor Statistics showed 7.44 million jobs open at the end of June, a decrease from the 7.71 million seen the month prior. The hiring rate ticked lower to 3.3% from the 3.4% seen the month prior and stood at its lowest level since November 2024. "The June JOLTS report painted a familiar picture of the labor market: hiring remains quite low, but so do layoffs," Oxford Economics lead US economist Nancy Vanden Houten wrote in a research note following the release. "This will allow the Federal Reserve to keep policy steady as it waits for a clearer picture of how tariffs will impact inflation and growth." Josh Schafer is a reporter for Yahoo Finance. Follow him on X @_joshschafer. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Mortgage and refinance interest rates today, July 30, 2025: Rates stay relatively flat
Mortgage interest rates today saw very little movement. According to Zillow, the average 30-year fixed rate stayed flat at 6.69%. Meanwhile, the 15-year mortgage decreased by three basis points to 5.89%. With the June jobs report showing employment and hiring on the decline, and the Federal Reserve set to keep the federal funds rate steady, mortgage rates are not expected to decrease significantly soon. So if you are looking to buy a house, and it makes sense given your personal circumstances, now is as good a time as any. Read more: Will mortgage rates go up to 7%? Signs to watch for. Today's mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.69% 20-year fixed: 6.62% 15-year fixed: 5.89% 5/1 ARM: 7.27% 7/1 ARM: 7.39% 30-year VA: 6.36% 15-year VA: 5.73% 5/1 VA: 6.22% Remember, these are the national averages and rounded to the nearest hundredth. Learn more: Here's how mortgage rates are determined Today's mortgage refinance rates These are today's mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.65% 20-year fixed: 6.37% 15-year fixed: 5.94% 5/1 ARM: 7.35% 7/1 ARM: 7.41% 30-year VA: 6.22% 15-year VA: 5.99% 5/1 VA: 6.19% Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case. Up next Up next Use our mortgage calculator Use the mortgage calculator below to see how various interest rates and loan amounts will affect your monthly payments. It also shows how the term length plays into things. To dive deeper, use the Yahoo Finance mortgage calculator, which includes homeowners insurance and property taxes in your monthly payment estimate. You even have the option to enter costs for private mortgage insurance (PMI) and homeowners' association dues if those apply to you. These details result in a more accurate monthly payment estimate than if you simply calculated your mortgage principal and interest. 30-year fixed mortgage rates There are two main advantages to a 30-year fixed mortgage: Your payments are lower, and your monthly payments are predictable. A 30-year fixed-rate mortgage has relatively low monthly payments because you're spreading your repayment out over a longer period of time than with, say, a 15-year mortgage. Your payments are predictable because, unlike with an adjustable-rate mortgage (ARM), your rate isn't going to change from year to year. Most years, the only things that might affect your monthly payment are any changes to your homeowners insurance or property taxes. The main disadvantage to 30-year fixed mortgage rates is mortgage interest — both in the short and long term. A 30-year fixed term comes with a higher rate than a shorter fixed term, and it's higher than the intro rate to a 30-year ARM. The higher your rate, the higher your monthly payment. You'll also pay much more in interest over the life of your loan due to both the higher rate and the longer term. 15-year fixed mortgage rates The pros and cons of 15-year fixed mortgage rates are basically swapped from the 30-year rates. Yes, your monthly payments will still be predictable, but another advantage is that shorter terms come with lower interest rates. Not to mention, you'll pay off your mortgage 15 years sooner. So you'll save potentially hundreds of thousands of dollars in interest over the course of your loan. However, because you're paying off the same amount in half the time, your monthly payments will be higher than if you choose a 30-year term. Dig deeper: 15-year vs. 30-year mortgages Adjustable mortgage rates Adjustable-rate mortgages lock in your rate for a predetermined amount of time, then change it periodically. For example, with a 5/1 ARM, your rate stays the same for the first five years and then goes up or down once per year for the remaining 25 years. The main advantage is that the introductory rate is usually lower than what you'll get with a 30-year fixed rate, so your monthly payments will be lower. (Current average rates don't reflect this, though — fixed rates are actually lower. Talk to your lender before deciding between a fixed or adjustable rate.) With an ARM, you have no idea what mortgage rates will be like once the intro-rate period ends, so you risk your rate increasing later. This could ultimately end up costing more, and your monthly payments are unpredictable from year to year. But if you plan to move before the intro-rate period is over, you could reap the benefits of a low rate without risking a rate increase down the road. Learn more: Adjustable-rate vs. fixed-rate mortgage Today's mortgage rates: FAQs What is a 30-year mortgage rate right now? The national average 30-year mortgage rate is 6.69% right now, according to Zillow. But keep in mind that averages can vary depending on where you live. For example, if you're buying in a city with a high cost of living, rates could be even higher. Are interest rates expected to go down? Mortgage rates will likely remain in a tight range over the next few months. There are many questions regarding the economy, inflation, and the job market. Don't look for big moves in interest rates unless bad economic news develops. Are mortgage rates dropping? Mortgage rates are not set to drop any time soon. In fact, according to Zillow data, rates have actually increased slightly compared to where they were one year ago. How do I get the lowest refinance rate? In many ways, securing a low mortgage refinance rate is similar to when you bought your home. Try to improve your credit score and lower your debt-to-income ratio (DTI). Refinancing into a shorter term will also land you a lower rate, though your monthly mortgage payments will be higher.
