Jobless claims tumble to 218,000, well below estimate despite fears of labor market weakness

Jobless claims tumble to 218,000, well below estimate despite fears of labor market weakness

Initial claims for unemployment insurance were well below expectations last week, helping to douse caution at the Federal Reserve and elsewhere that the labor market is in danger. First-time filings for the week ending Sept. 20 totaled a seasonally adjusted 218,000, down 14,000 from the prior week’s upwardly revised figure and significantly less than the…

Read More
Gabelli Funds highlights the AI stocks to buy as craze continues

Gabelli Funds highlights the AI stocks to buy as craze continues

The trillion-dollar investment cycle into generative artificial intelligence is only just beginning, and is already starting to pay off, according to John Belton, portfolio manager at Gabelli Funds. Tech companies are set to invest roughly $1 trillion in capital expenditures into AI infrastructure over the coming years, causing some investors to worry the businesses may…

Read More