Federal Reserve Chair Jerome Powell said Tuesday that he is encouraged by cooler inflation but reinforced that the central bank will need to see more evidence before cutting interest rates. The last two inflation readings in April and May “do...
Retail sales increased at a slower-than-expected pace in May as high interest rates and inflation continued to weigh on consumers. Retail sales increased 0.1%, less than the 0.3% economists had expected. In April, retail sales ticked down 0.2%, according to...
They did everything right — spreading out bets far and wide across bonds and equities in case things went south. Now, after heeding Wall Street’s mantra to diversify for the long haul, these investors are watching with envy as the...
Nvidia led global companies in market cap gains in May, buoyed by a stunning rally as its bumper revenue forecast reinforced investor confidence in the AI-driven surge in chip demand. Nvidia’s market cap soared to $2.69 trillion at the end...
Home-price growth in 20 major US cities picked up pace in March, pressuring buyers as the key selling season kicks into gear. Prices in a measure of 20 cities increased 7.4% from a year earlier, larger than the 7.3% annual...
The United States has long had the world’s biggest defense budget, with spending this year set to approach $900 billion. Yet this spending is rapidly being eclipsed by the fastest-growing portion of federal outflows: interest payments on the national debt....
Producer price index data out Tuesday showed that inflation ran hotter in April, but downward revisions to earlier data assuaged concerns. Meanwhile, health care prices, the biggest input to the Federal Reserve’s primary core inflation rate, moderated a bit as...
Minneapolis Fed president Neel Kashkari said Tuesday that he believes interest rates will likely need to be held at current levels for an “extended period” and didn’t rule out a hike if inflation stalls near 3%. “I think it’s much...
US consumer borrowing rose in March by the smallest amount this year as Americans relied less on credit cards. Total credit increased $6.3 billion after an upwardly revised $15 billion gain in February, according to Federal Reserve data released Tuesday....
The bid for Treasuries that swept through markets ahead of the weekend is unwinding amid hopes the conflict between Iran and Israel will now calm, with attention returning to the inflationary forces dogging the world economy. The yield on 10-year...
Another hotter-than-expected inflation reading is fueling investor fears that the Federal Reserve will have to push back the number and timing of interest rate cuts this year. The Consumer Price Index (CPI) rose 3.5% over the prior year in March,...
Stocks and bonds dropped around the globe as solid economic readings and a rally in commodities spurred speculation that major central banks will keep interest rates higher for longer. In a revival of the “good news is bad news” trade,...
Ratings agency S&P Global on Tuesday downgraded its outlooks for five regional U.S. banks to due to their commercial real estate (CRE) exposures, in a move likely to reignite investor concerns about the health of the sector. The ratings agency...
The stock market is at odds with what is going on in the economy, top economist David Rosenberg says. The latest market frenzy has shades of July 2007, when stocks were caught in a swift decline just three months later,...
Inflation pressures remained persistent in February, as prices for shelter and gas rose, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) showed prices rose 0.4% over the previous month...
