Stock market today: Alphabet and Microsoft push Wall Street toward its first winning week in a month

NEW YORK (AP) — Alphabet and Microsoft are leading the U.S. stock market on Friday toward the finish of its first winning week in the last four. The S&P 500 was 1.2% higher in afternoon trading and on track for its best week since November. The Dow Jones Industrial Average was...

JPMorgan's Dimon hopes for soft landing for US economy but says stagflation is a possible scenario

NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. In an interview with The Associated Press at a Chase branch opening...

Fed's preferred inflation gauge shows price pressures stayed elevated last month

WASHINGTON (AP) — A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed's reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden's re-election bid. Friday's report...

An inflation gauge closely tracked by the Federal Reserve shows price pressures remain elevated

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates

WASHINGTON (AP) — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Thursday’s report from the Commerce Department said the gross...

Average long-term US mortgage rate climbs for fourth straight week to highest level since November

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since late November, another setback for home shoppers in what's traditionally the housing market's busiest time of the year. The average rate on a 30-year mortgage rose to 7.17% from...

US applications for jobless claims fall to lowest level in 9 weeks

Fewer Americans applied for unemployment benefits last week as the labor market continues to hold up despite higher interest rates imposed by the Federal Reserve in its bid to curb inflation. The Labor Department reported Thursday that unemployment claims for the week ending April 20...

Stock market today: Tokyo's Nikkei leads Asian gains following Wall Street rally

HONG KONG (AP) — Asian shares rose on Wednesday, led by an 2% gain in Japan’s Nikkei 225 after U.S. stocks rallied for a second straight day Tuesday, blunting the blow from what’s been a rough April. U.S. futures rose while oil prices edged lower. Japan’s...

Stock market today: Asian stocks track Wall Street gains ahead of earnings reports

HONG KONG (AP) — Asian benchmarks extended gains Tuesday after U.S. stocks clawed back a chunk of their losses from last week, which was the worst for the S&P 500 in more than a year, while the yen weakened further to fresh 34-year lows. U.S. futures were mixed and oil prices...

Stock market today: Tumbling tech stocks drag Wall Street to the finish line of another losing week

NEW YORK (AP) — The worst week for big technology stocks since the COVID crash in 2020 dragged Wall Street on Friday across the finish line of another losing week. The S&P 500 dropped 0.9% to close out its third straight losing week. That’s its longest such streak since...