This year looks to be a much better one for the U.S. economy than business economists were forecasting just a few months ago February 26, 2024, 12:01 AM ET • 2 min read NEW YORK — This year looks to be a much better one for the U.S. economy than business economists were forecasting just … Read more
WASHINGTON (AP) — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output … Read more
WASHINGTON — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of … Read more
NEW YORK — Wall Street started 2024 with a slump, giving back some of its powerful gains from the year before. The S&P 500 fell 0.6% Tuesday. The Dow edged 0.1% higher, and the Nasdaq composite lost 1.6%. Some of the market’s sharper drops came from stocks that were last year’s biggest winners. Apple had … Read more
NEW YORK (AP) — Wall Street climbed back to its best level in 20 months on Friday following a stronger-than-expected report on the U.S. job market. The S&P 500 rose 0.4%, enough to clinch a sixth straight winning week for the index, which is its longest such streak in four years. Wall Street’s main measure … Read more
SAN JOAQUIN, Venezuela — The avocado trees across the road from Jose Hernandez’s tin-roofed home help feed several retirees in the rural community of San Joaquin along a highway two hours southwest of Venezuela’s capital. He and his neighbors cut the avocados with the owner’s permission and sell them to motorists at a nearby toll … Read more
TOKYO (AP) — Asian shares mostly rose in cautious trading Friday after Wall Street drifted to a quiet close on worries about a too-hot U.S. job market. Japan’s benchmark Nikkei 225 fell 0.3% to 31,129.06. Australia’s S&P/ASX 200 rose 0.5% to 6,906.96. South Korea’s Kospi edged up 0.3% to 2,411.74. Hong Kong’s Hang Seng jumped … Read more
JPMorgan’s Marko Kolanovic is bracing for a 20% sell-off to hit the S&P 500. According to the Institutional Investor hall-of-famer, high interest rates are creating a breaking point for stocks — and choosing cash at a 5.5% return in money market and short-term Treasurys is a key protection strategy right now. “I’m not sure how … Read more
WASHINGTON — Surging interest rates are intensifying the challenges for the U.S. economy and threatening to derail the Federal Reserve’s drive to tame inflation without causing a deep recession. Since mid-summer, the yield on the 10-year Treasury note, a benchmark for many loans, has steadily climbed, causing a spillover rise in other borrowing costs. The … Read more
TOKYO (AP) — Shares in Asia were mostly lower on Wednesday after Wall Street’s ugly September got even worse, with benchmarks dropping back to where they were in June. Tokyo’s Nikkei 225 lost 0.4% to 32,192.94. In Hong Kong, the Hang Seng advanced 0.7% to 17,585.27. The Shanghai Composite index added 0.3% to 3,112.54. In … Read more