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Nasdaq 100 futures rose 1% in pre-market trading, while S&P 500 futures rose 0.61%.On May 8th, data released by the U.S. Bureau of Labor Statistics on Friday showed that the U.S. economy added 115,000 jobs in April, exceeding Wall Street expectations for the second consecutive month. This figure was lower than the revised 185,000 jobs added in March, but higher than the 65,000 expected by economists in a survey. In recent months, U.S. employment data has fluctuated significantly, swinging between sharp increases and sharp decreases, making it difficult for analysts to assess the overall health of the economy. Although the unemployment rate remains relatively low, the Federal Reserve is increasingly divided on how to deal with the energy shock caused by the war with Iran, and policymakers are debating its potential impact on the economy. Some officials worry that rising inflation could accompany rising unemployment, creating stagflation as consumers reduce spending, leading to employer layoffs. Cleveland Fed President Hammarck said on Thursday that if businesses see that demand for their products is no longer strong, it could mean they will reduce hiring. Currently, it seems that basically everyone who wants to work can find a job. But if demand is under pressure, then the employment aspect of the Feds mandate could be at risk. Therefore, there is considerable uncertainty at present.On May 8th, market analyst Chris Anstey stated that, according to estimates, the break-even point for the US job market is approximately 50,000 new jobs. In other words, the 115,000 new non-farm payroll jobs added this time are still quite strong. There is currently no apparent threat to the Federal Reserves "maximum employment" goal. Therefore, it is difficult to imagine that Kevin Warsh will be able to gain support within the Federal Reserve next month to push for an interest rate cut.US interest rate futures indicate that the probability of a Federal Reserve rate hike in 2026 has decreased slightly.According to the U.S. Bureau of Labor Statistics, employment increased in April in the healthcare, transportation and warehousing, and retail sectors, while federal government employment continued to decline.

Desalination Plant in California Suffers Setback With Recommendation For Denial

Haiden Holmes

Apr 26, 2022 10:07

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The commission, which has the authority to reverse staff decisions but does so infrequently, is due to vote on the project on May 12.


Desalination, environmentalists argue, annihilates ocean life, consumes excessive amounts of money and energy, and will soon be rendered obsolete by water recycling.


Poseidon Water, the infrastructure subsidiary of Canada's Brookfield Asset Management, is proposing the desalination facility near Huntington Beach, just south of Los Angeles.


Poseidon has been attempting to secure approval for the project for more than two decades, spending an estimated $100 million in the process.


With the Western states of the United States suffering from a prolonged drought, officials appeared to be on the verge of approving the Huntington Beach facility. Last year, the business expressed sufficient confidence to discuss breaking ground on the $1.4 billion factory by the end of 2022.


Poseidon has operated a comparable facility in Carlsbad since 2015, although it was permitted locally prior to the state enacting regulations governing desalination plants.