Wall Street ticked higher on Monday as technology stocks recovered some of their losses from late last week. The Standard & Poor’s 500 added 0.3%. The Dow Jones industrial average rose 68 points, or 0.1%, and the Nasdaq composite climbed 0.5%. All three are near their all-time highs set a week ago. Big Tech stocks…
Wall Street is set for a busy week with a plethora of economic data releases scheduled. The primary focus for market participants will centre on the September non-farm payrolls report and the August job openings numbers. Beyond these key employment figures, traders will be closely monitoring releases covering S&P final manufacturing and services PMIs, consumer…
Core inflation was little changed in August, according to the Federal Reserve’s primary forecasting tool, likely keeping the central bank on pace for interest rate reductions ahead. The personal consumption expenditures price index posted a 0.3% gain for the month, putting the annual headline inflation rate at 2.7%, the Commerce Department reported Friday. Excluding food…
The core personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose slightly in August, in line with economists’ expectations. Inflation yardsticks such as the PCE index and the Consumer Price Index measure the change in prices over time of a typical basket of goods and services. The core PCE, which excludes volatile…
The U.S. economy expanded at a much faster pace than initially estimated last quarter, according to new Commerce Department data released Thursday. Gross domestic product grew at a 3.8% annual rate in the April–June period, topping both the government’s previous 3.3% estimate and the initial 3% reading. It was the strongest showing since the fall…
Nvidia is investing in OpenAI. (Photo by Justin Sullivan/Getty Images) Getty Images Key Takeaways Powell’s Cautious Remarks Shift Focus Toward Upcoming Inflation Data Nvidia’s Massive AI Investments Drive Market Cap And Sector Momentum Lithium Americas Surges On Potential Government Stake And EV Demand Major market indices fell on Tuesday with the S&P 500 dropping 0.55%…
Santa Monica, California — It’s no secret that a trip to the grocery store is costing more these days. Food prices grew by a half-percent from July to August, according to data from the U.S. Bureau of Labor Statistics Consumer Price Index — the fastest monthly change since the fall of 2022. And overall grocery…
How is the Fed’s rate cut affecting mortgage rates? Mortgage rates have been mostly falling since late July on expectations of a Fed rate cut. The average rate on a 30-year mortgage was at 6.35% last week, its lowest level in nearly a year, according to mortgage buyer Freddie Mac. A similar pullback in mortgage…
WASHINGTON – The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market. In an 11-to-1 vote signaling less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its…
The Federal Reserve announced Wednesday it will lower its benchmark rate by a quarter point, paving the way for relief from some of the high borrowing costs that have weighed on consumers. The federal funds rate, which is set by the Federal Open Market Committee, is the interest rate at which banks borrow and lend to one…