US small business confidence rises modestly amid sales worries

Here is the latest Economic News from CNBC.

US small business confidence rises modestly amid sales worries
Small business confidence edged up amid growing concerns about weak sales growth, which are hurting spending on goods and inventory investment.

Mortgage applications jump 9.3% as rates fall
Last week’s weak jobs report pushed interest rates lower, but the desire for mortgages was already on the rise.

JOLTS: 5.8 million job openings vs 5.7 million expected at end of April
There were 5.8 million job openings in April, beating analyst expectations of 5.7 million, and up from 5.76 million job openings in March.

‘Frightening’ number of unemployed have stopped looking for work
Nearly half of the unemployed have quit looking for work and the numbers are even worse for the long-term jobless.

Janet Yellen probably just signaled two rate hikes this year
If Janet Yellen has her way, there likely will be two rate hikes this year, contrary to current market expectations.

Fed chair: Here’s what we’re asking ourselves
Fed Chair Janet Yellen struck a generally positive tone on the U.S. economy — despite Friday’s weak jobs report.

Fed, again, left with egg on its face as recovery falters
All that hawkish Fed talk in recent weeks seemed kind of silly after Friday’s dismal jobs report.

Wait: The US may have actually LOST jobs in May
As if the May jobs picture wasn’t bad enough already, one economist said it was even worse.

This may bring on new handwringing about the economy
May’s weak jobs report may have sidelined some investors as they sort through what signals the economy is sending.

Fed’s Mester says gradual rate hikes still appropriate after jobs report
The latest jobs number has not changed the economic picture and gradual rate hikes remain appropriate, the Cleveland Federal Reserve President said.

Election angst dampening US economy
Uncertainty about the November election is hurting the U.S. economy, according to a survey.

Fed’s Rosengren points to nonfarms, hints at no June rate hike
Last month’s poor employment report might give the Federal Reserve pause, says Boston Fed President.

All eyes on Yellen for rate-hike signals after payroll shocks
Investors will be looking for signals from the Fed chair about the U.S. central bank’s next rate move after shockingly weak payroll data.

New fertile ground for tech jobs: The farm
A growing global population is fueling a hunger highly skilled workers for agriculture to help feed the world.

Charts: The real story on the unemployment rate
The Labor Department said that the unemployment rate is at 4.7 percent, but does that tell the whole story?

Mayday! Job growth plummets heading into summer
Job creation tumbled in May, with the economy adding just 38,000 positions amid conflicting signs of an economic recovery.

Odds for interest rate hikes plunge after major jobs report miss
The probability for a June rate hike plummeted Friday after a major miss in the May jobs report.

US layoffs hit five-month low of 30,157 in May: Challenger
U.S. job cutting falls significantly across several sectors.

Fed’s Tarullo says Brexit is factor in rate decision: Report
Britain’s exit from the EU would be a factor as policymakers weigh whether they should raise rates later this month, the Fed board governor said.

Jobless claims unexpectedly fall as labor market tightens
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell last week.

Jack Welch says Obama’s ‘wacky’ climate-change agenda hurts the US economy
Jack Welch calls President Obama’s heavy focus on climate change “radical behavior.”

Service sector accounted for all the job growth in May: ADP
The closely watched private payrolls count was right around expectations, with economists anticipating growth of 175,000

ISM mfg index expands in May, construction spending tumbles in April
U.S. Construction spending recorded its biggest decline in more than five years as outlays fell broadly, while manufacturing expanded.

Chicago business activity unexpectedly contracts in May
The Chicago Purchasing Managers Index fell unexpectedly in May, falling short of economists’ estimates.

Consumer confidence drags in May
Consumers were feeling less optimistic for the second month in a row, new data said Tuesday.

Consumer spending posts biggest gain in more than six years
Inflation also rose steadily, more signs of an acceleration in economic growth that could persuade the Fed to raise rates again as early as June.

President’s overtime pay plan threatens the ‘Prada’ economy
A federal rule could endanger a practice where assistants in fields like publishing and movies accept low wages for a kind of apprenticeship.

Economic growth revised up to just 0.8 percent
The revised gross domestic product was the weakest performance since the first quarter of 2015.

Fed’s Powell: Rate hike looking appropriate ‘fairly soon’
Federal Reserve Governor Jerome Powell said Friday an interest rate hike could be appropriate fairly soon.

US jobless claims fall more than expected last week
Filing for new benefits fell, as the labor markets remains healthy and the economy regains momentum after stumbling in the first quarter.

US durable goods for April surge on transportation
Orders for long-lasting U.S. manufactured goods surged in April on strong demand for transportation equipment.

Fed’s Bullard says markets have better reading now on chances of rate hike
Financial markets have a more appropriate reading now on the chances of a rate rise in June than before, the St. Louis Fed president on Thursday.