Here’s what unemployment rate actually means and why it’s important


Members of the Long Beach, New York CSEA civil service union hold a drive-by protest in front of Long Beach City Hall to protest further union layoffs on May 26, 2020.

(Photo by Thomas A. Ferrara/Newsday RM via Getty Images)

The U.S. unemployment rate fell to 13.3% in May, defying expectations of a much bleaker figure near that of the Great Depression era.

The stock market rejoiced after the announcement on Friday. The S&P 500 was up about 2.4% as of 10:54 a.m. ET.

But what does the unemployment rate mean and why is it important?

Indicator of hardship


Read More

Blowout jobs report shows ‘big hedge fund guys’ got it wrong and the market was right, says Cramer


Jim Cramer

Scott Mlyn | CNBC

Following a “superb” jobs report, Jim Cramer noted that hedge funds managers who made big bearish predictions about what the pandemic would do to the market and economy were wrong.

And the relentless higher price action that many doubted was right.

“The market got it right,” CNBC’s Cramer said on “Squawk on the Street” on Friday. “The big hedge fund guys who told us that this was going to be the highest and worst and most dangerous since 1999, well they made an ill-advised prediction.” 

Stocks are soaring on Friday on news the U.S.

Read More

Argo takes cease-and-desist order | Insurance Business


“Without admitting or denying the SEC’s findings, Argo consented to the SEC’s cease-and-desist order, which requires Argo to pay a US$900,000 (around SG$1.25 million) civil penalty.”

This was the revelation made by the US Securities and Exchange Commission when it announced settled charges against Argo Group International Holdings, Ltd., the insurance group headquartered in British overseas territory Bermuda which continues to be haunted by its leadership past.  

“The SEC’s order finds that in its proxy statements for 2014 through 2018, Argo disclosed that it had provided a total of approximately US$1.2 million (around SG$1.67 million) in perquisites and personal benefits,

Read More

The stock market could crater again. Here’s why investors shouldn’t worry


Wall Street and New York Stock Exchange in New York.

Alexander Spatari

The stock market has defied gravity in recent weeks, rebounding nearly as quickly as it sold off amid the coronavirus pandemic.

The threat of another steep decline is omnipresent. But stock investors shouldn’t be concerned, experts say.

In fact, panicking and selling out of stocks if the market craters again could cost investors a lot of money.

“When the heat is on and things feel risky and scary, that’s where your biggest potential returns are going to lie as a stock market investor,” Fitzgerald said.

Stock market rebound

Read More