Biden says Fed made 'declaration of progress' with interest rate cut
President Joe Biden is celebrating the Federal Reserve’s decision to lower interest rates by saying it shows that inflation has eased.
US home sales fell in August despite easing mortgage rates, more homes on the market
Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market kept rising.
Weekly applications for US jobless benefits fall to the lowest level in 4 months
The number of Americans applying for unemployment benefits fell to their lowest level in four months last week.
Wall Street soars to records as Dow leaps 500 in a rate-cut rally that swept the world
Wall Street romped to records as a delayed jubilation swept markets worldwide following the Federal Reserve’s big cut to interest rates.
South Florida real estate market awaits impact of Fed’s gradual rate cut
The Federal Reserve’s recent half-point rate cut is sending ripples through Miami-Dade’s housing market, but experts caution that the effects will be gradual.
The Federal Reserve is finally lowering rates. Here's what consumers should know
The Federal Reserve has cut its benchmark interest rate from its 23-year high, with consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.
Federal Reserve signals end to inflation fight with a sizable half-point rate cut
The Federal Reserve cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates that helped tame inflation but also made borrowing painfully expensive for consumers.
Stock market today: Most of Wall Street edges lower after Fed delivers a big cut to rates
Most of the U.S. stock market edged lower after the Federal Reserve kicked off its efforts to prevent a recession with a bigger-than-usual cut to interest rates.
US retail sales ticked up last month in sign of ongoing consumer resilience
Americans spent a bit more at retailers last month, providing a small boost to the economy just as the Federal Reserve considers how much to cut its key interest rate.
US consumer sentiment ticks higher for second month but remains subdued
Americans’ outlook on the economy improved for the second straight month in September, bolstered by lower prices for long-lasting goods such as cars and furniture.
Stock market today: Wall Street’s best week of 2024 closes with indexes near their records
U.S. stocks closed their best week of the year with more gains and climbed to the cusp of their records.
Wholesale inflation mostly cooled last month in latest sign that price pressures are slowing
U.S. wholesale price increases mostly slowed last month, the latest evidence that inflation pressures are cooling enough for the Federal Reserve to begin cutting interest rates next week.
Stock market today: Wall Street falls sharply to close its worst week in nearly 18 months
Another rout hit Wall Street after an update on the U.S. job market came in weak enough to add to worries about the economy.
Sluggish US jobs report clears the way for Federal Reserve to cut interest rates
Hiring by America’s employers picked up a bit in August from July’s tepid pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.
Stock market today: Most of Wall Street slips as S&P 500 stays on track for worst week since April
Most U.S. stocks fell following a mixed round of data on the economy, keeping them on track for their worst week since April.
Federal Reserve's favored inflation gauge shows price pressures easing as rate cuts near
An inflation measure closely tracked by the Federal Reserve remained low last month, extending a trend of cooling price increases that clears the way for the Fed to start cutting its key interest rate next month for the first time in 4 1/2 years.
Average rate on a 30-year mortgage eases to 6.35%, its lowest level in more than a year
The average rate on a 30-year mortgage eased for the second week in a row and remains at its lowest level in more than a year.
Stock market today: Dow Jones Industrial Average inches up to another record high in mixed trading
The Dow Jones Industrial Average inched up to another record high on a mixed day of trading for Wall Street.
How to prepare for the Fed's forthcoming interest rate cuts
The Federal Reserve is poised to cut its benchmark interest rate next month from its 23-year high, with consequences for consumers when it comes to debt, savings, auto loans and mortgages.
Stock market today: Wall Street rallies near its record heights as 'time has come' for cuts to rates
U.S. stocks rallied closer to their records after the head of the Federal Reserve finally said out loud what Wall Street has been expecting for a while: Cuts to interest rates are coming soon to help the economy.
Powell at Jackson Hole: 'The time has come' for the Fed to soon begin reducing interest rates
With inflation nearly defeated and the job market cooling, the Federal Reserve is prepared to start cutting its key interest rate from its current 23-year high, Chair Jerome Powell said Friday.
U.S. applications for unemployment benefits inch up, but remain at historically healthy levels
The number of Americans filing for unemployment benefits rose modestly last week, but remains at healthy levels Jobless claims rose by 4,000 to 232,000 for the week of Aug. 17, the Labor Department reported Thursday.
Stock market today: Wall Street weakens ahead of a highly anticipated speech
U.S. stocks closed lower as Wall Street counted down to its main event for the week, a speech by Federal Reserve Chair Jerome Powell coming up on Friday.
Fed minutes: Most officials favored a rate cut in September if inflation continued to cool
Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool.
Stock market today: Wall Street climbs to push its winning streak to 8 days, longest of the year
U.S. stocks climbed, and Wall Street pulled closer to its record heights following its roller coaster of a summer.
Average rate on a 30-year mortgage ticks up to 6.49%, near its lowest level in more than a year
The average rate on a 30-year mortgage edged higher this week, holding close to its lowest level in more than a year.
US unemployment claims fall 7,000 to 227,000 in sign of resiliency in job market
The number of Americans applying for unemployment benefits fell last week, another sign that the job market remains resilient in the face of high interest rates.
Stock market today: Wall Street leaps, and S&P 500 rallies 1.6% as US shoppers drive the economy
Wall Street rallied close to its record heights after data showed the U.S. economy is holding up better than expected.
Stock market today: Wall Street ticks higher after inflation data clears the way for cuts to rates
Wall Street ticked higher after the latest update on inflation came in almost exactly as economists expected.
US wholesale inflation cooled in July in sign that price pressures are continuing to ease
Wholesale price increases in the United States eased in July, suggesting that inflation pressures are further cooling as the Federal Reserve moves closer to cutting interest rates, likely beginning next month.
Stock market today: Wall Street holds relatively steady ahead of big tests coming later in the week
U.S. stocks drifted through a quiet day to finish mixed, as markets around the world stabilized following a wild week.
Fewer Americans file for jobless benefits last week, but applications remain slightly elevated
The number of Americans filing for jobless benefits fell last week but remain at slightly elevated though not troubling levels.
Japan's share benchmark soars nearly 11% a day after massive sell-offs that shook Wall Street
Japan's benchmark Nikkei 225 index has soared more than 10% a day after it set markets tumbling in Europe and on Wall Street, while other world markets appeared to have settled after the rollercoaster ride that started the week.
Calm returns to Wall Street, and stocks bounce back after their worst drop in nearly 2 years
Stocks rose on Wall Street as calm returned to the market a day after its worst drop in nearly two years.
The Fed's high rates spur fear of slowdown, yet recession signals have so far proved wrong
The turmoil shaking global financial markets reflects a sudden fear that the Federal Reserve may have held its key interest rate too high for too long, heightening the risk of a U.S. recession.
The number of Americans filing for jobless claims hits highest level in a year
The number of Americans filing for unemployment benefits jumped to its highest level in a year last week, even as the labor market remains broadly healthy.
Stock market today: Worries about the economy hit Wall Street, and the Dow drops nearly 500 points
U.S. stocks tumbled after weak data raised worries the Federal Reserve may have missed its window to cut interest rates before undercutting the economy’s growth.
Stock market today: Asian benchmarks are mixed as Tokyo sips on strong yen
Japan’s index has plunged, as the U.S. dollar sank against the yen, and regional investors digested the rally on Wall Street that came on hopes U.S. cuts to interest rates will be arriving soon.
Paychecks grew more slowly this spring, a sign inflation may keep cooling
Pay and benefits for America’s workers grew more slowly in the April-June quarter than in the first three months of the year, a trend that could keep price pressures in check and encourage the inflation-fighters at the Federal Reserve.
U.S. job openings fall slightly to 8.2 million as high interest rates slowly cool a hot labor market
U.S. job openings fell slightly last month, a sign that the American labor market continues to cool in the face of high interest rates.
Federal Reserve is edging closer to cutting rates. The question will soon be, how fast?
Two years after launching an aggressive fight against inflation and one year after leaving its benchmark interest rate at a near-quarter-century high, the Federal Reserve is expected to signal this week that it will likely reduce borrowing costs as soon as September.
Fewer Americans file for jobless claims as applications remain at elevated, but not troubling levels
Fewer Americans filed for unemployment benefits last week, but applications remained at recently elevated, though not troubling levels.
Stock market today: Asian stocks fall after a torrent of profit reports leaves Wall Street mixed
Asian stocks are lower as markets digest Japanese and Australian business data, while U.S. stocks held relatively steady as earnings reporting season ramped up for big companies.
More Americans apply for jobless benefits as layoffs settle at higher levels in recent weeks
U.S. filings for unemployment benefits rose again last week and appear to be settling consistently at a slightly higher though still healthy level.
Stock market today: Asian stocks slip, while Australian index tracks Wall St rally to hit record
Asian stocks are mostly lower even as investors wager that the Federal Reserve will come ahead with a cut to interest rates, while Australia's benchmark hit a new record.
Retail sales unchanged in June from May, underscoring shoppers' resilience
Shoppers paused their spending in June from May, defying economic forecasts for a pullback and proving their resilience in the face of an uncertain economy.
Powell says Federal Reserve is more confident inflation is slowing to its target
Chair Jerome Powell said the Federal Reserve is becoming more convinced that inflation is headed back to its 2% target and said the Fed would cut rates before the pace of price increases actually reached that point.
Stock market today: Wall Street rolls to the edge of records as hopes remain for cuts to rates
U.S. stocks rose after some mixed signals on big banks’ profits and inflation did little to dent Wall Street’s belief that easier interest rates are on the way.
Fewer Americans apply for jobless claims last week as labor market remains sturdy
Fewer Americans filed for unemployment benefits last week as the labor market remains sturdy despite high interest rates.
Stock market today: Wall Street's scorching rally sets more records as hopes rise for rate cuts
U.S. stocks rose to more records after a report on the job market bolstered hopes that interest rates may soon get easier.
Stock market today: Japan's Nikkei 225 hits new record close, as other world markets advance
Japan's benchmark Nikkei 225 has surged to a record close of 40,913.65, while most other major world markets also advanced.
Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts
Federal Reserve officials at their most recent meeting welcomed recent signs that inflation is slowing and highlighted data suggesting that the job market and the broader economy could be cooling.
US filings for jobless claims inch up modestly, but continuing claims rise for ninth straight week
The number of Americans filing for unemployment benefits inched up last week, but remain at historically healthy levels despite elevated interest rates.
Federal Reserve's preferred inflation gauge shows price pressures easing further
A measure of prices that is closely tracked by the Federal Reserve suggests that inflation pressures in the U.S. economy are continuing to ease.
Stock market today: Asian shares advance ahead of U.S. inflation report
Asian shares have advanced as traders look ahead to a key report on inflation that could influence the Federal Reserve’s next move on interest rates.
US weekly jobless claims fall, but the total number collecting benefits is the most since 2021
Fewer people applied for unemployment benefits last week but the total number of Americans collecting jobless benefits rose to the highest level in more than two years.
US economic growth for last quarter is revised up slightly to a 1.4% annual rate
The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said in a slight upgrade from its previous estimate.
Stock market today: Asian shares mostly rise ahead of U.S. inflation report
Asian shares are rising as traders looked ahead to a key report on inflation that could influence the Federal Reserve’s next move on interest rates.
Stock market today: Asian stocks follow Wall Street rise, but Nvidia tumbles again as AI mania cools
Asian stocks rise after another slide for Wall Street heavyweight Nvidia kept U.S. indexes mixed Monday, even as the majority of stocks rallied.
US home sales fall for the 3rd straight month in May amid rising mortgage rates, record-high prices
Sales of previously occupied U.S. homes fell in May for the third straight month as rising mortgage rates and record-high prices discouraged many prospective homebuyers during what’s traditionally the housing market’s busiest period of the year.
Stock market today: Wall Street coasts to the close of another winning week as Nvidia cools again
U.S. stocks coasted to the close of their latest winning week, as Nvidia’s stock continued to cool from its startling, supernova run.
Average long-term US mortgage rate falls again, easing to lowest level since early April
Home loan borrowing costs eased again this week as the average rate on a 30-year mortgage declined to its lowest level since early April.
Stock market today: Wall Street hangs around its records after European stocks slump
U.S. stocks hung around their record levels as Wall Street remained relatively quiet following another slide in Europe.
The number of Americans filing for jobless benefits jumps to the highest level in 10 months
The number of Americans filing for jobless benefits jumped to the highest level in 10 months last week, a sign that the labor market is likely cooling under the weight of high interest rates.
Stock market today: Asia shares rise amid Bank of Japan focus after the Fed stands pat
Asian shares are mostly higher as investors turn their attention to what the Bank of Japan might decide on monetary policy later this week.
US inflation cooled in May in a sign that price pressures may be easing
Inflation in the United States eased in May for a second straight month, a hopeful sign that an acceleration of prices that occurred early this year may have passed.
Federal Reserve sees some progress on inflation but envisions just one rate cut this year
Federal Reserve officials said inflation has fallen further toward their target level in recent months but signaled that they expect to cut their benchmark interest rate just once this year.
Stock market today: Asian stocks are mixed ahead of this week's Fed meeting
Asian stocks are mixed in a busy week with several top-tier reports on U.S. inflation due along with a policy meeting of the Federal Reserve.
Stock market today: Stocks slip and bond yields jump following a hotter-than-expected jobs report
Stocks slipped and Treasury yields rose sharply after the government released a jobs report whose headline numbers came in hotter than expected.
Little relief: Mortgage rates ease, pulling the average rate on a 30-year home loan to just below 7%
The average rate on a 30-year mortgage dipped to just below 7% this week, little relief for prospective homebuyers already facing the challenges of rising housing prices and a relatively limited inventory of homes on the market.
Slightly more Americans apply for jobless benefits, but layoffs remain at healthy levels
The number of Americans applying for jobless claims rose last week, but layoffs remain at healthy levels despite lingering inflation and high interest rates.
Stock market today: Wall Street rallies to close out a bloom-filled May
An already verdant May for Wall Street finished with another push higher as stocks rallied after a report showed inflation is at least not worsening.
US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending
The U.S. economy grew at a sluggish 1.3% annual pace from January through March, the weakest quarterly rate since the spring of 2022, the government said in a downgrade from its previous estimate.
The number of Americans applying for jobless benefits inches up, but layoffs remain low
The number of Americans applying for unemployment benefits ticked up last week, but layoffs remain historically low in the face of lingering inflation and high interest rates.
Stock market today: Asian shares track Wall Street's slide on worries over interest rates
Asian shares have retreated after strong reports on the U.S. economy raised the possibility that interest rates may stay painfully high.
Stock market today: Asian shares are mixed, with China stocks down, after Wall St retreat
Asian shares are trading mixed, as investor sentiment in Tokyo was boosted by news in the U.S. about soaring Nvidia earnings.
Stock market today: Asian shares mostly decline after Nasdaq ticks to a record high
Asian shares have retreated even after most U.S. stock indexes finished higher, especially technology issues like Nvidia.
Stock market today: Asian shares mostly higher after Wall Street sets more records
Asian markets are mixed in quiet trading, with most of the regions’ benchmarks inching higher after U.S. stocks hit new record highs.
US applications for jobless benefits come back down after last week's 9-month high
Fewer Americans applied for unemployment benefits last week as layoffs remain at historically low levels even as other signs that the labor market is cooling have surfaced.
Stock market today: Asian shares advance after another round of Wall St records
Asian shares are mostly higher after U.S. stocks rallied to records on hopes that inflation is heading back in the right direction.
Wholesale price increases accelerated in April as inflation remains sticky
U.S. wholesale prices rose sharply last month, a sign that stubbornly high inflation may persist after three elevated readings in consumer prices to start the year.
Stock market today: Asian markets follow Wall Street higher ahead of U.S. key inflation update
Asian stocks have advanced after equities rose on Wall Street, with the Nasdaq composite hitting a record high.
Are US interest rates high enough to beat inflation? The Fed will take its time to find out
The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several Federal Reserve officials have said in recent comments, suggesting there may be few, if any, rate cuts this year.