Fed: Jobs Market Is Weakening; United Plane Loses Wheel on Takeoff | Business Matters (July 9)

Don Ma
By Don Ma
July 9, 2024Business Matters
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The chairman of the Federal Reserve acknowledged Tuesday that the jobs market is cooling. But he says he’s increasingly confident that inflation is on its way down to a more normal level.

A United Airlines Boeing 757-200 plane lost a wheel from its landing gear while taking off from Los Angeles International Airport on Monday, but managed to land safely in Denver.

As the S&P 500 has soared, fewer stocks have been participating in the rally. Market breadth was narrow for most of last year and this year, with the 24 percent gain in the S&P 500 in 2023 driven primarily by mega-cap stocks. Is this an indicator of poor economic health in the United States? We spoke to a financial analyst.