The U.S. economy added 275,000 jobs in February according to the latest non-farm payrolls report.
February’s payroll beat the initial estimate of 200,000 and was higher than a downwardly revised sum of 229,000 in January.
Additionally, wages rose just 0.1% on the month, with the unemployment rate unexpectedly climbing to 3.9%.
Despite the relatively stable labor market, growth has eased in recent months, increasing the odds of a June rate cut.
XAUUSD peaked at a new high of $2,195 earlier today and it’s $2.177 as of writing.
HelloFresh Stock Down 42% Following Profit Outlook
Shares in Hello Fresh fell by more than 40% on Friday, following the company’s earnings outlook.
In 2024, the company expects earnings before interest and tax to fall to between 350 million and 400 million euros.
This is down from 448 million euros the year before, resulting in markets to downgrade the stock.
HelloFresh said it expected earnings of between €350m (£298m) and €400m (£341m) this year, down from the €568m (£484m) analysts had previously estimated.
UBS described the outlook as “far worse” than expected, as traders fled the vegetable delivery service.
The company said it had re-evaluated its business plan and it was now unlikely to reach its previously announced mid-term revenue target of €10bn by 2025 due to the “very different operating environment”.
The stock closed 42.10% lower today.
Microsoft Continues to Be Targeted by Russian Hackers
On Friday, Microsoft announced that Russian hackers continued to attack its systems.
The company said, “In recent weeks, we have seen evidence that Midnight Blizzard is using information initially exfiltrated from our corporate email systems to gain, or attempt to gain, unauthorized access. This has included access to some of the company’s source code repositories and internal systems”.
They added, “To date we have found no evidence that Microsoft-hosted customer-facing systems have been compromised.”
The company’s stock was marginally lower on the news, trading 0.66% lower at the time of writing.
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