Initial filings for unemployment insurance fell more than expected last week, providing some relief to markets worried about signs of a further slowdown in the U.S. labor market and the broader economy.

New data from Department of Labor It showed 233,000 initial jobless claims were filed in the week ended Aug. 3, up from 250,000 the previous week and 240,000 less than economists had expected. In the week ending July 27, jobless claims hit their highest level since August 2023.

Meanwhile, the number of ongoing applications for unemployment benefits reached its highest level since November 2021, with 1.875 million claims filed in the week ended July 27, up 6,000 from the previous week.

“This morning’s report suggests that this may be a normalization [labor market] conditions, as opposed to a sign of apparent weakness lurking around the corner,” Lindsay Bixa, chief economist at Stifel, told Yahoo Finance.

The weak July jobs report was the first fresh reading from the labor market after fueling recession fears a week ago. The report showed the US economy posted its second-lowest monthly job additions since 2020, while the unemployment rate rose to 4.3%, the highest level in nearly three years.

Piegza noted that Thursday’s report will offset some of the “rising concerns” about the labor market seen in recent trading days.

July’s jobs report sent stocks tumbling as investors quickly priced in higher odds of the Federal Reserve having to cut interest rates more sharply this year to avoid a recession. But many economists have indicated that more data than the July jobs report will be needed to determine how quickly the U.S. labor market is cooling.

“You don’t want to overreact to one data point,” Deutsche Bank senior U.S. economist Brett Ryan told Yahoo Finance. “So without question, the risks are elevated and are leaning toward the Fed starting with more aggressive rate cuts, but we’re not there yet.”

Josh Shafer is a Yahoo Finance reporter. Follow him on X @_joshschafer.

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Romulus, Mich. (AP) — Vice President Kamala Harris announced she and her new running mate, Minnesota Governor Tim Walls, the “happy warriors” against Donald Trump on Wednesday spent their first full day campaigning together across the Midwest. They got an unusual glimpse of how hot the area can be when they overlap on a Wisconsin tarmac. Republican Vice Presidential Candidate JT Vance.

Democrats visited Wisconsin and Michigan, hoping to drum up support among younger, diverse, labor-friendly voters who have been instrumental in helping the president. Joe Biden Win the 2020 elections.

“As Tim Walls likes to point out, we’re happy warriors,” Harris said at the day’s first rally in Eau Claire. Contributing to that sentiment, the Harris campaign said it raised $36 million in the first 24 hours after announcing Walls as his running mate.

The vice president said the pair were optimistic about the future, unlike former president and Republican White House nominee Trump, whom he accused of being stuck in the past and favoring a confrontational style of politics — even as he criticized his opponent.

“Someone who suggests that we should overturn the Constitution of the United States should never get the chance to sit behind the seal of the United States again,” Harris said, her voice rising.

Dan Miller of Pelican Lake, Wisconsin, one of the 12,000-plus Eau Claire rally attendees, said Biden “has been an incredible president, but he’s not the same ambassador.”

“And sometimes you need a better ambassador,” Miller said. “That’s it Kamala.”

Later, at an evening event in an airport hangar outside Detroit, where the campaign announced to a crowd of 15,000, Michigan Gov. Gretchen Whitmer — often tipped as a future presidential candidate — “We need a strong woman in the White House. About a bad time.”

“This election is going to be a fight,” Harris said at the same event. “We love a good fight.”

The swing was especially important for Harris as Biden’s winning coalition four years ago became a focal point over the summer — especially in Michigan. Democratic factions About Biden’s manipulation Israel-Hamas conflict.

With the president now out of the race, leaders of the Arab American community and major labor unions say they are encouraged by Harris’ choice of running mate. Adding Walls to the ticket was a consolation Some tensionsHarris signaled to some leaders that he had heard of another leading contender for the vice presidency, Governor Josh Shapiro of Pennsylvania.

“The party is recognizing that they have a coalition that they need to rebuild,” said Abdullah Hammoud, the mayor of Dearborn, Michigan, a large Arab American community. “Choosing Walls is another sign of good faith.”

However, lingering differences were on display during Harris’ Michigan speech, when he was interrupted by protesters opposing Israel’s fight with Hamas. First, Harris told those trying to disrupt him, “I’m here because I believe in democracy and that everyone’s voice matters.”

That’s an answer Similar to Biden, who often interrupted his rallies, saying protesters should be allowed to speak before being removed by security. Harris, however, quickly moved to drastic action, continuing, “But I’m talking now.” This elicited cheers from most of the audience.

“If you want Donald Trump to win, say so,” the vice president continued to the protesters. “Otherwise I’ll talk.”

The protesters were eventually escorted away, but Harris shouted at each other before a tense confrontation between supporters and counter-protesters.

Trump, meanwhile, insisted on wooing Midwestern voters with his appeal Vance, an Ohio senator, as his running mate. Vance seals the Harris-Wallace ticket with his own Wednesday appearances at Michigan and Wisconsin.

Vance’s campaign plane landed nearby and taxied into the distance while Harris was still welcoming a group of visiting Girl Scouts at the Chippewa Valley Regional Airport in Wisconsin. Harris posed for a group photo with the women, while Vance stepped away and began walking to Air Force Two, trailed by his security detail.

The vice president eventually got into his motorcade, which drove away before they could make contact. However, given the carefully scripted nature of campaign schedules, it was unusual for the pair to come so close to doing so.

“I wanted to see my future flight,” Vance told reporters later, meaning he would travel on Air Force Two if he and Trump are elected in November. He also criticized Harris for not holding press conferences since becoming a presidential candidate.

“If those people want to call me something different, I call it a badge of honor,” Vance said, responding to a moniker Walls used to describe the Minnesota governor online in the days before Harris tapped him as his running mate.

Walls had some critical words for Vance in both Wisconsin and Michigan, but directed most of his sharp words at Trump, saying the former president “makes a mockery of our laws, he sows confusion and division among people, to say nothing of the job he’s done as president.”

Walls emphasized that he and Harris promote the neighborhood and the community at large, saying his state’s football fans cheered for Detroit’s longest-running NFL team that made the most recent Super Bowl: “Vikings fans are proud of the Lions.”

The momentum may be important in Detroit, where leaders are nearly 80% black It had warned for months Administration officials say voter apathy could cost them a city that is usually a stronghold for their party.

NAACP Detroit Branch President Rev. Wendell Anthony said the excitement in the city right now is “mind blowing.” He compared it to Barack Obama’s first presidential election in 2008, when voters waited in long lines to elect the nation’s first black president.

Some Democratic leaders in Michigan worried that picking the wrong running mate would slow that momentum and fracture the recent alliance. began to consolidate.

Arab American leaders who hold Significant influence Because of a large presence in metro Detroit, Michigan, they have been vocal against Shapiro because of his past comments on the Israel-Hamas conflict.

Those leaders specifically pointed to comments he made about protests on university campuses earlier this year, which he felt were unjustified by comparing the actions of student protesters to those of white supremacists. Shapiro, who is Jewish, has been critical of Israeli Prime Minister Benjamin Netanyahu while remaining a staunch supporter of Israel.

Osama Siblani, publisher of Dearborn-based Arab American News and a prominent leader of Michigan’s large Muslim community, was among those who met with White House adviser Tom Perez in Michigan last week. Perez keeps in touch with some beloved leaders High officials traveled With Biden to mend relations with the community.

Ciplani said he met with Perez for more than an hour on July 29 and said that if Harris chose Shapiro, it would “shut down” any future conversations.

“Not taking Shapiro was a good step. It opens the door a little bit more for us,” Ciplani said.

___

Cappelletti reports from Michigan. Associated Press writers Mark VanCleave in Eau Claire, Wisconsin, Scott Bauer in Madison, Wisconsin, Tom Krisher in Detroit, Isabella Volmert in Lansing, Michigan, and Will Weissert in Washington contributed to this report.

President Joe Biden said in a new interview that he has “no confidence” that there will be a peaceful transition of power in January if former President Donald Trump loses the election.

“If Trump loses, I have no hope,” Biden said when asked when A Interview With CBS News if he hopes for a peaceful transfer of power in January 2025.

In the clip, which aired Wednesday evening, Biden also said people were not taking Trump’s past comments about “bloodbaths” seriously.

“He means it, if we lose, there will be bloodshed,” Biden said. “You can’t love your country unless you win.”

A Trump campaign spokeswoman did not immediately respond to a request for comment Wednesday night.

Trump said in March that if he loses the election in November, “it will be bloody for the country.” He mentioned this while talking about economic policies.

Three months later, during a June 27 presidential debate, Trump was asked whether he would accept the results of the 2024 election. After repeatedly dodging the question, he replied, “If it’s a fair and legal and good election, absolutely.”

In the CBS interview, Biden also addressed efforts to complicate post-election certification processes.

“Look at what they’re trying to do now in the local election districts where people are counting their votes,” he said.

Georgia’s Republican-controlled state board of elections voted this week to give local officials more power over the certification of election results. Over the weekend, Trump praised the officials who approved the rule change.

The full interview with Biden is scheduled to air Sunday morning.

Disney ( DIS ) reported Wednesday that its entire streaming division turned a profit for the first time, although the company attributed weakness in its parks division to “moderation in consumer demand” at the end of the quarter.

In Disney’s fiscal third quarter, its direct-to-consumer (DTC) streaming business, which includes Disney+, Hulu and ESPN+, posted operating income of $47 million, compared with a loss of $512 million in the year-ago period. The company previously expected total streaming profits to hit a profit in the current quarter.

Overall, the company reported Q3 adjusted earnings of $1.39 per share, above the $1.19 analysts polled by Bloomberg expected and the $1.03 reported by Disney in the year-ago period.

Revenue came in at $23.2 billion, beating consensus expectations of $23.1 billion and up from $22.3 billion reported in the year-ago period.

Disney raised its full-year adjusted earnings growth guidance to 30% from 25% previously.

Disney stock initially rose in pre-market trading on Wednesday before giving up these gains. Shares fell about 3% after hours. Coming into the report, Disney stock was roughly unchanged this year.

Looking ahead, Disney said streaming profits are on track to improve in the fourth quarter, with both DTC Entertainment, which posted a $19 million loss in Q3, and ESPN+ expected to be profitable.

“We remain confident in our trajectory and have many building blocks to improve margins in the coming years,” the company said in the release.

One of those building blocks is a new price hike for these services. On Tuesday, the company It announced a price hike again On its Disney+ and Hulu plans, the changes will take effect in October. The company also plans to add new features like access to ABC Live and a playlist of content for young kids.

“Every time we’ve taken a price increase, we’ve had only a modest bounce back from it,” Disney CEO Bob Iger said on the call. “There is nothing we consider significant.” He said the goal of streaming is to “build engagement on the platform,” hence the new features and package opportunities.

The media giant noted that the number of core Disney+ subscribers rose slightly to 118.3 million in the third quarter, from 117.6 million a year ago. Analysts expected subscribers to be roughly equal.

Average revenue per user, or ARPU, fell 3% to $7.74 for domestic Disney+ users, despite recent price hikes and stricter restrictions on password sharing. On the earnings call, Disney CFO Hugh Johnston said increased bundling and a shift to ad tiering have impacted the metric.

The story continues

Parks, linear business under pressure

The parks business was Disney’s main disappointment in the quarter, with domestic operating income falling 6% from a year earlier to $1.35 billion. The company warned that demand may continue to moderate over the “next few quarters”.

“As we aggressively monitor arrivals and guest spending and aggressively manage our cost base, we expect Q4 Experiences segment operating income to decline by mid-single digits from the prior year, reflecting these underlying dynamics,” the company said in its release.

On the earnings call, Johnston offered some optimism, saying, “While we’re seeing some moderation in demand, I certainly wouldn’t call it a significant change.” He said the company expects a “flat-ish” revenue number from parks in the current quarter.

The company added that Disneyland Paris will suffer from some cyclical softening in China as normal consumer demand trends ease due to the Olympics. The company said it continues to see “strong” demand for its vessels.

Meanwhile, linear struggles continued with domestic linear network revenue falling 7%, dragged down by declining advertising revenue and lower ancillary revenue as more consumers cut the cord. Operating income in the segment declined by 1%.

ESPN bucked the downward trend, with domestic operating income for the sports company up 1% due to growth in advertising and subscription revenue.

In February, Disney doubled down on sports streaming with the reveal of an upcoming joint venture with Fox and Warner Bros. Discovery. The company is also working on a separate sports streaming platform for ESPN, which will debut in fall 2025.

With strong showings like “Inside Out 2” and more recent films, Disney’s theatrical power seems to be back on track. “Deadpool & Wolverine.” With the upcoming releases of “Moana 2” and “Mufasa: The Lion King” heading the box office later this year. This resulted in an increase in content sales and licensing revenue, rising to $245 million in Q3 compared to a loss of $112 million in the prior year.

Alexandra Canal Senior reporter at Yahoo Finance. Follow her on X @alli_kanal, LinkedIn, and email [email protected].

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A rare sight is coming to the Space Coast on Tuesday morning. The 196-foot-tall Atlas V rocket will blast off from the launch pad The mission of a secret space force.

There has been only one Atlas V launch this year, and that was for a Boeing Starliner crew flight test.

Launching at 6:45 a.m. EDT on Tuesday, July 30, a United Launch Alliance Atlas V rocket will carry the United States Space Force USSF-51 mission from Launch Complex-41 south of Kennedy Space Center.

As of Friday morning, the weather forecast for Tuesday’s launch was favorable, with only a 20% chance of conditions preventing the launch.

What Lady Gaga Has Said About Her Relationship Michael Polanski?

Although the “superficial” singer doesn’t delve into the details, she does has He shared some glimpses of their love story. A like the time she posted Photograph She and Polanski will celebrate Valentine’s Day in 2020 or next month when they shared a selfie in isolation amid the coronavirus pandemic.

“Going strong,” Gaga wrote Instagram During that time, “we play video games and cards and take care of ourselves.”

“The Edge of Glory” artist also uploaded their photos Adaptation, When the sun goes down And Work Born This Way Foundation. He said while reminiscing about catching his French Bulldogs in 2021 The Hollywood Reporter, “I thank God every day for the safe return of my dogs. My dogs and the man I love for the rest of my life.

But lately, Gaga has kept her personal life and artistic process private.

“I may not have shared much of myself in the past,” she wrote Instagram In June 2023, “But I hope you know this time has been very healing and recharging for my heart, mind, body and creativity – to create within myself and have a personal life of my own.”

A McDonald’s restaurant is seen in Burbank, California on July 22, 2024.

Mario Tama | Good pictures

The America The girls won 4-1 Germany Two wins from two games in Group B at the Olympic Football Tournament on Sunday promises a place in the quarter-finals.

The American attack dominated the first half in Marseille, with Sophia Smith scoring twice and Mallory Swanson rebounding from a star strike by Smith for the Americans’ third goal as Germany briefly leveled the score. Distance shot by Julia Quinn.

The Americans are playing their first major tournament under new coach Emma Hayes, who took over the U.S. team in late May.

Hayes has the responsibility to lead the Americans as they look to pull themselves back from the disappointment of last summer’s round of 16 loss at the Women’s World Cup.

The USWNT is the winningest Olympic team with four gold medals. The Americans won bronze at the Tokyo Games under former coach Vladko Antonovski, who resigned following the World Cup.

Smith started for the US after leaving the opener in the first half with what appeared to be an ankle injury.

Ten minutes into the match, Smith headed a cross from Trinity Rodman past German goalkeeper Katrin-Anne Berger.

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Quinn equalized in the 22nd minute with a low, bouncing shot from outside the penalty area that eluded diving American goalkeeper Alyssa Neher.

Swanson puts the U.S. back in 26th place. Berger punched away an attempt by Smith from distance, but Swanson grabbed the rebound for a goal. It was Swanson’s third Olympic goal.

Swanson is the second player to score three goals on the team in an Olympics, joining Abby Wambach in 2012.

Smith scored his second goal in the 44th minute with a high arcing shot.

Substitute Lynn Williams added the final goal in the 89th minute as fans chanted “USA! USA!” Time flew by.

US defender Tierna Davidson left the match with an injury and was replaced by Emily Sonnett.

Alexandra Popp left in the 76th minute with what appeared to be a right leg injury. It was a blow for Germany, who were already without midfielder Lena Oberdorf (knee).

The U.S. plays Australia in Marseille to close out group play and could top the group with a draw or a win. Germany will face Zambia in Saint-Etienne after beating Australia 3-0 in their Olympic opener.

Information from the Associated Press was used in this report.