Job openings stay elevated as Americans keep quitting

Republican-led states regain jobs lost during pandemic

FOX Business’ Madison Alworth discusses red states like Texas, Arizona, Idaho, and Utah recovering all jobs lost during the COVID-19 pandemic.

Americans continued to quit their jobs in droves in December 2021, underscoring how persistent turmoil in the labor market has made it difficult for employers to fill open positions.

The Labor Department said Tuesday that 4.3 million Americans, or about 3% of the workforce, quit their jobs in December. That's down from a fresh high of 4.5 million in November, but is well above the pre-pandemic level of about 3.6 million.

Meanwhile, the number of job openings rose to 10.9 million by the end of December. 

This is a developing story. Please check back for updates.

Oil Prices Slip Ahead Of API Data

Oil prices slipped on Tuesday, after having gained sharply in the previous session on worries over possible disruptions in supply due to mounting political tensions in Europe and the Middle East.

Benchmark Brent crude futures dipped 0.9 percent to $88.43 a barrel, while U.S. West Texas Intermediate crude futures were down nearly 1 percent at $87.31.

Weekly U.S. inventory data from American Petroleum Institute (API) is on tap, with analysts expecting an increase in crude stockpiles. Analysts expect crude stocks to have risen by 1.8 million barrels.

The API issues its inventory report later today. U.S. crude production rose 2 percent in November to 11.753 million barrels per day, according to a monthly report on Monday from the U.S. Energy Information Administration.

Investors also kept an eye on developments in the Ukraine and an upcoming OPEC meeting for direction.

“I would not expect a lot of deviation from the plan,” an OPEC+ delegate reportedly said of Wednesday’s meeting.

The OPEC and its allies, collectively known as OPEC+ are likely to stick with a planned rise in their oil output target for March despite signs of a sustained recovery in Asian oil demand.

Carpenter Technology Posts Narrower Loss In Q2

Carpenter Technology Corporation (CRS) reported a second-quarter adjusted loss per share of $0.58 compared to a loss of $0.61, prior year. On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.62, for the quarter. Analysts’ estimates typically exclude special items.

Net loss was $29.4 million or $0.61 per share compared a loss of $84.9 million or $1.76 per share.

Sales increased to $396.0 million from $348.8 million, a year ago. Analysts on average had estimated $365.94 million in revenue. Net sales excluding surcharge were $314.9 million, an increase of 5 percent from a year ago.

Total liquidity, including cash and available revolver balance, was $391.6 million at the end of the second quarter of fiscal 2022.

Gold lower by ₹125; silver tanks ₹339

Gold prices declined by ₹125 to ₹47,837 per 10 gram; Silver also declined by ₹339 to ₹61,477 per kg

Gold prices declined by ₹125 to ₹47,837 per 10 gram in the local market in New Delhi on Wednesday in line with lower global prices, according to HDFC Securities.

In the previous trade, the precious metal settled at ₹47,962 per 10 gram.

Silver also declined by ₹339 to ₹61,477 per kg from ₹61,816 per kg in the previous trade.

In the international market, gold was trading lower at $1,799 per ounce and silver was flat at $22.67 per ounce.

“Gold prices traded weak with spot gold prices at COMEX trading down at $1,799 per ounce on Wednesday. Gold prices traded down with gold falling below $1,800 per ounce with market players looking for fresh cues post U.S. FOMC meeting,” Tapan Patel, senior analyst (commodities) at HDFC Securities, said.

Freeport-McMoRan Inc. Q4 Profit Increases, beats estimates

Freeport-McMoRan Inc. (FCX) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company’s earnings totaled $1.11 billion, or $0.74 per share. This compares with $0.71 billion, or $0.48 per share, in last year’s fourth quarter.

Excluding items, Freeport-McMoRan Inc. reported adjusted earnings of $1.42 billion or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 36.9% to $6.16 billion from $4.50 billion last year.

Freeport-McMoRan Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $1.11 Bln. vs. $0.71 Bln. last year.
-EPS (Q4): $0.74 vs. $0.48 last year.
-Analyst Estimate: $0.92
-Revenue (Q4): $6.16 Bln vs. $4.50 Bln last year.

PHOTOS: Denverites revel in biggest snow of the season Wednesday

Patio furniture full of snow, a dog licking their icy paws and wet roads; these are the scenes from a snow day around Colorado. Wednesday morning many in Denver woke up to find between three and 12 inches of snow. Of course the first thing you have to do once you see the powder is post about it.

Here’s some social sharings that have caught our eyes this morning. From scary drives to pretty ones to our favorite puppies:

Herald morning quiz: February 3

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.