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Wednesday’s stock market trading was brief but sweet—the S&P 500 and NASDAQ closed at records in a half-day session. The stock market was closed yesterday for the Fourth of July, but will reopen today with all eyes on the June jobs report to be released this morning. It’s expected to show more cooling in the labor market, which would reinforce the FOMC is likely plan to cut interest rates this fall.
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A federal court temporarily paused a ban on noncompetes from taking effect in September, ruling that the FTC overstepped its authority in April when it ordered a halt to the clauses affecting 30 million Americans. The ban on noncompetes was intended to allow workers like doctors and nurses to move jobs more easily and boost wages in the process, but businesses opposed it on the grounds that competitors could poach their employees and they’d lose valuable trade secrets.
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Filed under: Breaking News, Ethics, Financial Planning, Healthcare Finance, Information Technology, Investing, Marcinko Associates, Recommended Books | Tagged: CBOE, DJIA, FOMC, Marcinko, NASDAQ, non-compete clauses, S&P 500, textbooks, TNX, VIX, WSJ | Leave a comment »
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