1 hr 3 min ago
It turns out the job market was weaker than previously thought.
The U.S. economy added 911,000 fewer jobs in the 12 months through March 2025 than previously reported, the Bureau of Labor Statistics said Tuesday in a preliminary annual revision to its job creation data.
Although the revision only reduces the estimated size of the U.S. workforce by 0.6%, it means the economy added only about half as many jobs over that time period as the bureau said in its monthly job market reports.
While this routine revision doesn’t reflect the current labor market conditions, the downward shift could amplify fears that the job market is faltering.
Jobs growth is weakening under the weight of President Donald Trump’s tariffs and the Federal Reserve’s high interest rates. It may put pressure on the Fed to cut its key interest rate to lower borrowing costs and bolster the job market.
“Labor market momentum is being lost from an even weaker position than originally thought, reinforcing expectations of meaningful interest rate cuts,” James Knightley, chief international economist at ING, wrote in a commentary.
The revision is part of a routine process for the BLS that has come under scrutiny in the Trump era. The president has criticized the bureau for the accuracy of its data, and last month fired the bureau’s commissioner after a large downward revision to job creation statistics.
1 hr 40 min ago
CoreWeave (CRWV) shares gained 4% in morning trading after the artificial intelligence (AI) cloud computing platform announced plans to support new AI efforts.
The Nvidia-backed company said it was starting CoreWeave Ventures to provide “investment resources, technical expertise, and compute” to help AI founders bring new ideas to the market more quickly.
The assistance will range “from direct capital investment and compute-for-equity transactions to technical collaboration and go-to-market opportunities.”
Co-founder and Chief Development Officer Brannin McBee explained CoreWeave Ventures is designed “to give other audacious, like-minded founders the support they need to drive technical advancements and bring to market the next class of innovation.”
2 hr 7 min ago
Shares of News Corp (NWSA) and Fox (FOXA) declined after Rupert Murdoch‘s media empire settled a yearslong family fight over which of the mogul’s children will control the Murdoch family trust.
News Corp announced that Murdoch’s oldest son, Lachlan, who is chair of News Corp and CEO of Fox Corp., will be in charge of the trust. Previously, Lachlan and siblings Prudence MacLeod, Elisabeth Murdoch, and James Murdoch had equal voting shares.
Under the new arrangement, Prudence MacLeod, Elisabeth Murdoch, and James Murdoch will give up their claim to the trust and receive new trusts paid for by the sale of some of the MFT’s stock holdings. In addition, new trusts will be created for Lachlan and the two children Rupert Murdoch had with Wendi Deng, Grace and Chloe Murdoch.
A holding company owned by Lachlan, Grace, and Chloe Murdoch will control all the shares that were in the Murdoch trust, which amounts to approximately 33.1% of News Corp’s Class B stock and 36.2% of Fox Class B stock.
The family had been feuding over the trust after Rupert Murdoch moved to amend the trust and put Lachlan in charge, a step the three older children opposed. The battle led to litigation in a Nevada court, which News Corp now explained was terminated following the settlement.
3 hr 2 min ago
Shares of Nebius Group (NBIS) soared 50% in early trading Tuesday after the artificial intelligence infrastructure company struck a deal with Microsoft that could be valued as much as $19.4 billion.
Microsoft agreed to pay the Nvidia-backed firm, which completed its split from Russian internet giant Yandex last year, $17.4 billion over five years to provide artificial intelligence infrastructure for a new data center in New Jersey.
Microsoft “may also acquire additional services and/or capacity” for another $2 billion under the agreement.
Founder and CEO Arkady Volozh said this was the first of what Nebius expects will be “significant long-term committed contracts with leading AI labs and big tech companies.”
5 hr 21 min ago
Anglo American and Canada’s Teck Resources have agreed to merge, creating a $53 billion copper giant at a time when electricity demand by data centers to feed the AI boom is soaring.
Anglo Teck, the name of the merged company, will “offer more than 70% copper exposure” and be headquartered in Vancouver, British Columbia, the companies said. Its primary listing will be London though it will also be traded in New York, Johannesburg, and Toronto.
Copper prices have risen by around 15% this year on the back of not just demand for electricity to power AI data centers but also to meet the power needs of the transition to renewable energy, including for electric vehicles. Prices for the metal commonly used in electrical wiring have come off record highs fueled by pre-tariff buying, however, after President Donald Trump’s 50% import levies on the metal kicked in at the start of August.
Shareholders of Anglo American will own around 62.4% of Anglo Teck while the Canadian firm’s shareholders will have roughly 37.6%. The companies said they expect the deal to be completed in around 12-18 months, subject to regulatory and shareholder approvals, though the boards of both have green lit the deal.
5 hr 54 min ago
Futures tied to the Dow Jones Industrial Average were up 0.1%.
S&P 500 futures rose less than 0.1%.
Nasdaq 100 futures added 0.1%.