Latest Federal Reserve System News
Stock market today: Wall Street ticks higher as S&P 500 and Nasdaq composite head for more records
NEW YORK (AP) — Most U.S. stock indexes are ticking higher on Monday and adding to their latest winning week. The S&P 500 was up 0.4% in morning trading and on track to surpass its record set last week. The Nasdaq composite was 0.7% higher and likewise on pace for a record, as...
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...
Stock market today: Dow finishes above 40,000 to cap Wall Street’s latest winning week
NEW YORK (AP) — The Dow Jones Industrial Average finished a day above the 40,000 level for the first time on Friday as U.S. stock indexes drifted around their records while closing out their latest winning week. The Dow rose 134.21 points, or 0.3%, to 40,003.59, a day after briefly...
Federal Reserve Chair Jerome Powell working from home after testing positive for COVID-19
Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing related symptoms. Powell tested positive late Thursday. "Following Centers for Disease Control and Prevention guidance, he is staying away from others and working at home,” a...
Long-term mortgage rates retreat for second straight week, US average at 7.02%
The average rate on a 30-year mortgage in the U.S. fell for the second straight week, giving some relief to home shoppers already facing sky-high prices and a shortage of supply. The average 30-year rate fell to 7.02% from 7.09% last week, mortgage buyer Freddie Mac said Thursday. A...
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. Jobless claims for the week ending May 11 fell by 10,000 to 222,000, down from 232,000 the week before, the...
Stock market today: Asian shares advance after another round of Wall St records
Asian shares advanced on Thursday after U.S. stocks rallied to records on hopes that inflation is heading back in the right direction. The optimism came from a report showing U.S. consumers had to pay prices for gasoline, car insurance and everything else in April that were 3.4%...
US inflation eased last month in the first slowdown of 2024
WASHINGTON (AP) — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team. ...
Retail sales were unchanged in April from March as inflation and interest rates curb spending
NEW YORK (AP) — Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome. Retail sales were unchanged, coming in well below economists' expectations, and follow a revised 0.6%...
