Nick Rummell

New Jersey

Reporter at Courthouse News Service

Freelance writer, reporter for Courthouse News, dad, husband, human

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Articles

Despite US-UK trade deal, stocks go nowhere

6 days ago | courthousenews.com | Nick Rummell

MANHATTAN (CN) — Wall Street continued to tread water this week as tariff uncertainty spurred neither big gains nor big losses for investors. Even after the Trump administration announced a “breakthrough trade deal” with the United Kingdom — the first of many to come, according to the White House — markets moved only slightly and analysts said they were awaiting further detail. The U.K. trade deal keeps baseline tariffs at 10% and even suggests tariffs could still go higher in the future.
Wall Street rebounds on good jobs report, positive tech earnings

1 week ago | courthousenews.com | Nick Rummell

Good employment data and positive earnings reports from tech giants helped spur investors to pick up notable gains this week, even as the U.S. economy has begun to shrink. MANHATTAN (CN) — Investors have put tariff concerns to the side, instead focusing on employment data that remains positive even as it shows a cooling labor market.
April jobs report beats expectations, offering some relief

2 weeks ago | courthousenews.com | Nick Rummell

MANHATTAN (CN) — The U.S. economy added 177,000 jobs last month, a good deal more than the 135,000 jobs many economists had predicted. According to the Bureau of Labor Statistics, the unemployment rate has not shifted from 4.2%, after it rose slightly last month, though the past two employment reports were revised down by a total of 58,000 jobs. "Markets breathed a sigh of relief this morning," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
GDP falls for first time in nearly three years, hinting at recession

2 weeks ago | courthousenews.com | Nick Rummell

An influx of imports caused the drop, federal authorities say, as the impacts of President Trump’s trade war have started taking hold. MANHATTAN (CN) — The U.S. economy contracted by 0.3% during the first quarter of this year, according to federal estimates, though the data doesn’t yet fully take into account the effects of tariffs.
Markets continue trend of one step forward, two steps back

3 weeks ago | courthousenews.com | Nick Rummell

As investors try to suss out the White House’s approach to trade policy, equities continue to fluctuate, though the swings have been less wild this week. MANHATTAN (CN) — The carousel of tariffs — as well as exceptions and delays to tariffs — continue to cause markets to wobble, with the latest uncertainty causing Wall Street to post another losing week.
Chaos reigns on Wall Street as tariff confusion muddles markets

1 month ago | courthousenews.com | Nick Rummell

MANHATTAN (CN) — Equities this week were as volatile as they’ve been in years, as tariff malaise prompted massive gains and losses within days of each other. It was a bleak start on Monday, with markets continuing the hemorrhaging that started last week. Equities saw a record comeback on Tuesday, after the Trump administration tried to bandage the massive bond sell-off by announcing a temporary pause in tariffs. Then Wall Street started bleeding again on Wednesday before yet another Friday rebound.
Markets worldwide suffer worst week in years in wake of Trump trade war

1 month ago | courthousenews.com | Nick Rummell

The Dow plummeted almost 4,000 points in two days after President Trump announced sweeping tariffs, with cracks in employment and declining manufacturing data offering no solace to investors. MANHATTAN (CN) — President Donald Trump’s tariffs have caused equities markets around the world to implode, with U.S. indices losing trillions of dollars in value in two days. On Thursday, following Trump’s tariff announcement the day before, markets suffered their worst day in five years.
Labor market regains some footing with surprising job gains

1 month ago | courthousenews.com | Nick Rummell

Experts predicted another lukewarm report, but the latest federal jobs numbers show a resilient labor market, though cracks are starting to appear. MANHATTAN (CN) — The jobs report for March beat out expectations, posting a gain of 228,000 jobs, much better than the 140,000 most analysts had predicted.
Wall Street wipes out last week’s gains in new round of losses

1 month ago | courthousenews.com | Nick Rummell

Consumer sentiment is now as bad as it was during the Great Recession, with tariff uncertainty and stubborn inflation taking their toll on investors. MANHATTAN (CN) — Investors could not pull out back-to-back weekly wins, as dismal consumer sentiment and renewed inflationary data caused equities to drop again. The week started off positively, building off last week’s gains, but quickly soured as economic data rolled in.
Tired of huge losses, investors settle for minor gains

1 month ago | courthousenews.com | Nick Rummell

After weeks of bearish sentiment, the Federal Reserve came to the rescue, helping boost investors with promises that planned interest rate cuts are still in the works. MANHATTAN (CN) — Wall Street broke a four-week losing streak, posting meager returns after encouragement from the Federal Reserve that interest rate cuts are still coming.