U.S. Businesses Losing 11,000 Employees Per Week

Data from payroll processing firm ADP show that the private sector lost more than 11,000 jobs per week on average through late October, as the government shutdown has delayed the release of crucial employment and inflation reports from the Bureau of Labor Statistics (BLS), Danielle Chemtob reported for Forbes Daily.

The market is “growing up,” as ETFs, passive flows, and institutional allocations now play a bigger role in bitcoin’s movement than momentum traders. (Photo: New York Stock Exchange Facebook)

Experts are projecting a historic decline in the job market, with economists surveyed by Dow Jones expecting the unemployment rate to rise to 4.5% in October.

SoftBank announced it had cashed out of Nvidia, selling its entire stake in the chipmaker to fund new investments in OpenAI.

Nvidia shares fell 3% at one point, even as the company — which last month became the first firm to reach a $5 trillion valuation — continues to benefit from surging AI demand.

Meanwhile, crypto’s slipping price isn’t necessarily a sign of a bear market, says Forbes’ Nina Bambysheva. Instead, it shows that the market is “growing up,” as ETFs, passive flows, and institutional allocations now play a bigger role in bitcoin’s movement than momentum traders.