Cisco will cut thousands of jobs in a second round of layoffs this year as the U.S. networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI.
Read More Exclusive: Cisco to lay off thousands more in second job cut this year, sources say
The number of Americans filing new applications for unemployment benefits fell more than expected last week, somewhat easing fears of an unraveling labor market.
Read More Jobless Claims Decrease More Than Estimated To Calm Recession Fears For Now
The Nasdaq and the S&P 500 hit record highs on Wednesday as strength in Nvidia and other mega stocks supported Wall Street’s winning streak.
Read More S&P 500, Nasdaq scale record highs as Nvidia leads megacap charge
The economy grew via the addition of 206,000 jobs in June, but unemployment was still above 4% in the same month, according to the Labor Department on Friday.
Read More Report: U.S. Job Market Weakens In June
Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year.
Read More US weekly jobless claims rise as labor market gradually slows
The labor market is cooling but not enough to allay the Federal Reserve’s hesitance to begin cutting interest rates.
Read More US weekly jobless claims edge higher, Q1 labor costs revised lower