Financial related news.
NEW YORK (AP) — While it seemed scary and interminable, Wall Street's bear market last year was meeker than most. After the S&P 500 on Thursday closed at a level more than 20 percent above where it was in mid-October, Wall Street can give official dates for the birth and death of its last bear [...]
NEW YORK — The latest round of corporate earnings is leaving Wall Street with a confounding sense of relief and lingering anxiety. Companies are in the midst of an "earnings recession," meaning profits have contracted for two straight quarters, starting with a 4.6 percent drop at the end of 2022. Profits for S&P 500 companies [...]
WASHINGTON (AP) — In a good month, Celina Chanthanouvong has about $200 left after rent, groceries and car insurance. That doesn't factor in her student loans, which have been on hold since the start of the pandemic and are estimated to cost $300 a month. The pause in repayment has been a lifeline keeping the [...]
WASHINGTON (AP) — Don't call it a "pause." When the Federal Reserve meets next week, it is widely expected to leave interest rates alone — after 10 straight meetings in which it has jacked up its key rate to fight inflation. What might otherwise be seen as a "pause" will likely be characterized instead as [...]
WASHINGTON (AP) — The global economy is likely slowing sharply this year, hobbled by high interest rates, the repercussions of Russia's invasion of Ukraine and the lingering effects of the coronavirus pandemic. That's the latest outlook of the World Bank, a 189-country anti-poverty agency, which estimates that the international economy will expand just 2.1 percent [...]
WASHINGTON (AP) — Leading Federal Reserve officials are sending out stronger signals that they will forego an interest rate increase at the central bank's meeting next week, though they indicate hikes could resume later this year. "Skipping a rate hike at a coming meeting would allow (Fed policymakers) to see more data before making decisions" [...]
WASHINGTON (AP) — Job openings rose unexpectedly in April, illustrating the resilience of the American labor market and complicating Federal Reserve efforts to fight inflation. Employers posted 10.1 million job openings last month, up from 9.7 million in March and the most since January, the Labor Department said earlier this week. Economists had expected vacancies [...]
NEW YORK (AP) — As inflation on necessities like groceries remains stubbornly high, the well-heeled consumer appears to still be spending, while lower-income shoppers continue to cut back their purchases, according to the latest batch of earnings reports. Ralph Lauren Corp., which sells $300 sweaters and $500 handbags, reported a surprise increase in revenue in [...]
WASHINGTON (AP) — A key index of prices ticked higher in April and consumer spending rebounded, signs that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4 percent from March to April. That was much higher than the 0.1 percent rise the previous month. [...]
WASHINGTON (AP) — Federal Reserve officials were divided earlier this month on whether to pause their interest rate hikes at their upcoming meeting in June, according to the minutes of their May 2-3 meeting released last week. "Several (policymakers) noted if the economy evolved along the lines of their current outlooks, then further policy firming [...]