A software update wreaked havoc across the globe last week, causing major problems for hospitals, airlines, banks, major retailers, and other businesses. As of Monday, hundreds of flights across the United States were still canceled. The company responsible, CrowdStrike (CRWD), makes software meant to keep private companies and government agencies safe from cyberattacks. But on…Read more
Down the Golden Path It’s still early days in earnings season but results have continued to surprise, coming in 5.0% above consensus estimates. Now, the rate that companies have been beating expectations has been lower than the 5-year average rate of 8.6%, but better than expected is still better than expected. That sets up this…Read more
Claims Wave Last week, 243,000 Americans applied for first-time unemployment benefits, the highest level since August 2023, according to the U.S. Department of Labor. As the strong U.S. labor market is beginning to cool off, the Federal Reserve will likely keep a close look on indicators like that. Total number of Americans collecting unemployment benefits…Read more
