Anna's Daybreak News

Friday, 5:22 AM

September 20, 2024

Good morning news friend! Stay in tune with the latest updates, following the ever-changing stream of current events. 📰🌟

Jobless Claims Drops to 4-Month Low

Weekly jobless claims dropped by 12,000 to 219,000, reaching a four-month low. Economists expected 230,000 new filings.

Continuing claims also fell 14,000 to 1.829 million and layoffs remain low.

In August, employers added 142,000 jobs, up from 89,000 in July. However, this number remains below the monthly average of 218,000 seen earlier this year.

Additionally, revised data shows the economy added 818,000 fewer jobs from April 2023 to March this year than initially reported.

Source: Read More

Mortgage Rates Plummet to 19 Month Low

The average rate for a 30-year fixed loan now sits at 6.09%. This is down from 6.2% just a week ago. These are the lowest rates since February 2023. In May, rates peaked at 7.22%.

Existing home sales fell 2.5% in August, totaling 3.86 million units, the lowest in ten months. Meanwhile, the median home price climbed 3.1% to $416,700, a record high for August.

Although inventory rose 0.7% to 1.35 million units from the previous month, the supply increased by 22.7% year-over-year

Source: Read More

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FTC Exposes Vast Surveillance

The Federal Trade Commission (FTC) uncovered extensive surveillance by companies, including Meta, YouTube, and TikTok.

These platforms collected more personal data than users, including minors, usually realize.

The report noted that these companies failed to adequately protect their users, exposing them to risks like identity theft and stalking.

FTC Chair Lina Kahn emphasized the serious threats that surveillance poses to privacy and freedoms. Despite attempts to tighten privacy laws in Congress, many initiatives have stalled.

Source: Read More

Two Sigma's $100 Million Settlement

Hedge fund Two Sigma faces a $100 million settlement with the Securities and Exchange Commission (SEC).

The SEC's investigation revealed that Jian Wu, a senior researcher, altered investment models without permission. His actions inflated some funds by $450 million but caused losses of $170 million in others.

In response, Two Sigma terminated Wu. Co-founders John Overdeck and David Siegel also stepped down as co-CEOs but remain co-chairmen.

Scott Hoffman and Carter Lyons now lead the firm as co-CEOs.

Source: Read More

“People sometimes apologize so they can do it again”

Baked with love,

Anna Eisenberg ❤️