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Wall Street Journal US BusinessAug 07, 2020
Unemployment Rate Fell to 10.2% in July, U.S. Employers Added 1.8 Million Jobs
Employers added 1.8 million jobs in July and the unemployment rate fell to 10.2%, so far recovering less than half of the jobs lost due to the pandemic.

KiplingerAug 06, 2020
Stock Market Today: 'FAAMNGs' Do the Market's Talking
The major indices closed higher for a fifth consecutive day on Thursday. However, it was a "lumpy" performance that saw the "FAAMNGs" - or FAANGs, or FANGs, depending on which tech-related mega-cap stocks you're referring to - do most of the pushing, while broad swaths of the market failed to join in.

Wall Street received a little good news in that new unemployment-benefits applications declined last week to 1.2 million, well below analyst estimates for 1.4 million, but it still marked the 20th consecutive week of 1 million or more new jobless claims.

SEE MORE 12 Cheapest Small Towns in America "The improvement in claims is a welcome relief after weeks of stalling at elevated levels, and suggests a moderation in the rate of job separations," writes Pooja Sriram, vice president, U.S. economist, at Barclays. "That said, with initial claims still above a million, there is a long way to go for labor markets to normalize to pre-COVID levels.

Meanwhile, federal stimulus negotiations remained stalled Thursday, leaving little hope that a deal will be hammered out before the weekend.

Nonetheless, Facebook (FB, 6.5%) rallied after launching Instagram Reels, a feature meant to rival controversial social app TikTok. And the rest of the "FAAMNGs" - the group of Facebook, Apple (AAPL, 3.5%), (AMZN, 0.6%), Microsoft (

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