Latest Federal Reserve System News
Stock market today: Nasdaq sets another record as Wall Street wins back earlier losses
NEW YORK (AP) — U.S. stocks rose Friday in a bounce back from Wall Street’s worst day since April. The S&P 500 gained 36.88 points, or 0.7%, to 5,304.72 and won back all its losses from the prior two days. It eked out a tiny gain for the week, enough to extend its weekly...
Stock market today: Asian shares track Wall Street's slide on worries over interest rates
Asian shares were mostly lower Friday after Wall Street retreated following strong economic reports that raised the possibility of interest rates staying painfully high. U.S. futures edged higher and oil prices also rose Japan's Nikkei 225 index lost 1.2% to 38,623.78...
Long-term mortgage rates ease for third straight week, dipping to just below 7%
LOS ANGELES (AP) — The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties. The rate fell to 6.94%...
Borrowers, especially the young, struggle with credit card debt in potentially bad sign for economy
NEW YORK (AP) — Consumers are increasingly struggling to pay their credit card bills, raising concerns about severe delinquencies spiraling and sapping consumer spending. The share of credit card debt that's more than 90 days overdue rose to 10.7% during the first quarter, a...
Stock market today: Asian shares are mixed, with China stocks down, after Wall St retreat
TOKYO (AP) — Asian shares were trading mixed Thursday, as investor sentiment in Tokyo was boosted by news of soaring Nvidia earnings. Japan's benchmark Nikkei 225 gained 1.1% to 39,054.81. Australia's S&P/ASX 200 sank 0.5% to 7,807.10. South Korea's Kospi added 0.2% to...
U.S. existing home sales drop 1.9% in April, pushed lower by high rates and high prices
WASHINGTON (AP) — High mortgage rates and rising prices continued to put a damper on the spring homebuying season last month. Existing home sales fell 1.9% to a seasonally adjusted annual rate of 4.14 million in April from a revised 4.22 million in March, the National Association...
Federal Reserve minutes: Policymakers saw a longer path to rate cuts
WASHINGTON (AP) — After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high. ...
Stock market today: Asian shares mostly decline after Nasdaq ticks to a record high
TOKYO (AP) — Asian shares mostly fell Tuesday, even as most U.S. stock indexes finished higher, especially technology issues like Nvidia. Japan's benchmark Nikkei 225 rose 0.2% in early trading to 39,141.08. Australia's S&P/ASX 200 lost 0.2% to 7,851.90. South Korea's Kospi...
This Week: Home sales, Fed meeting minutes and consumer sentiment index
A look at some of the key business events and economic indicators upcoming this week SPOTLIGHT ON HOUSING The National Association of Realtors releases its monthly snapshot of existing U.S. home sales Wednesday. Economists project that sales of...
Many remember solid economy under Trump, but his record also full of tax cut hype, debt and disease
WASHINGTON (AP) — It was a time of fear and chaos four years ago. The death count was mounting as COVID-19 spread. Financial markets were panicked. Oil prices briefly went negative. The Federal Reserve slashed its benchmark interest rates to combat the sudden recession. And the...
