Diane Alter

Where September’s Job Gains Came From

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The unemployment rate dipped below 6% for the first time in six years, as the U.S. Department of Labor reported today (Friday) that employers added 248,000 new jobs in September. The gains took the unemployment rate down to 5.9% from August’s 6.1% and beat consensus estimates of 215,000.

Wells Fargo (NYSE: WFC) Starts Big Banks Earnings Season with a Profit Rise and Revenue Drop

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Wells Fargo & Co. (NYSE: WFC) kicked off second-quarter bank earnings season Friday morning. While the bank didn’t deliver any surprises, its numbers failed to impress.

Shares of the largest U.S. bank by market cap, up 28.5% since October, fell nearly 2% to $50.82 on brisk volume following the uninspiring report.

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