Latest Federal Reserve System News

Stock market today: Global stocks mixed on concern about US economy weakening

Jun. 06, 2023 06:01 AM EDT

BEIJING (AP) — Global stock markets were mixed Tuesday after a report that showed growth in service industries is slowing stoked concern the U.S. economy is weakening. London, Shanghai, Paris and Hong Kong retreated. Tokyo gained and Wall Street futures were mixed. Oil prices...

Australian central bank boosts cash rate to 4.1% with 12th hike

Jun. 06, 2023 02:16 AM EDT

CANBERRA, Australia: (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1%, and warned further rises could follow. The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest...

Stock market today: Asian stocks rise after Wall St retreats on concern economy weakening

Jun. 06, 2023 00:31 AM EDT

BEIJING (AP) — Asian stock markets rose Tuesday after Wall Street fell on concern the U.S. economy may be weakening following a report that showed growth in service industries slowing. Shanghai, Tokyo and Hong Kong rose. Sydney retreated. Oil prices declined. Wall...

Stock market today: Asian stocks follow Wall St up after strong US jobs report

Jun. 05, 2023 00:47 AM EDT

BEIJING (AP) — Asian stocks followed Wall Street higher on Monday after strong U.S. hiring data coupled with scant wage gains suggested a possible recession might be further away, but also that inflationary pressures are weakening. Tokyo's benchmark gained almost 2%. Shanghai, Hong...

Stock market today: Wall Street leaps, nearly escapes its bear market after strong jobs report

Jun. 02, 2023 17:13 PM EDT

NEW YORK (AP) — Stocks rushed higher Friday after a strong report on the U.S. job market suggested a recession may not be as close as Wall Street had feared. The S&P 500 leaped 1.5% for the latest surge in a rally that's vaulted it nearly 20% since mid-October. That put Wall...

US hiring jumped last month. So did unemployment. Here's what that says about the economy

Jun. 02, 2023 16:47 PM EDT

WASHINGTON (AP) — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool. Friday's report from the government reflected the...

US employers added a robust 339,000 jobs in May in sign of a still-healthy labor market despite Fed rate hikes

Jun. 02, 2023 08:35 AM EDT
WASHINGTON (AP) — US employers added a robust 339,000 jobs in May in sign of a still-healthy labor market despite Fed rate hikes.

Stock market today: Asia follows Wall St up on hopes Fed will ease off rate hikes

Jun. 02, 2023 00:07 AM EDT

BEIJING (AP) — Asian stock markets followed Wall Street higher Friday ahead of an update on the U.S. jobs market after Federal Reserve officials reignited hopes another interest rate hike might be postponed and lawmakers gave final approval to a deal to avert a government debt default. ...

Know any airplane mechanics? A wave of retirements is leaving some US industries desperate to hire

Jun. 01, 2023 18:20 PM EDT

WASHINGTON (AP) — Kwasi Bandoh, a senior recruiter for an airline, stood before a group of aviation mechanic students at their graduation ceremony last month and congratulated them for all having jobs. As some of the students began nudging each other, Bandoh realized that perhaps...

How major US stock indexes fared Thursday 6/1/2023

Jun. 01, 2023 16:49 PM EDT

Wall Street closed higher on hopes that the Federal Reserve may soon take it easier on its hikes to interest rates, with the S&P 500 gaining 1% Thursday. Several reports painted a picture of a split U.S. economy. The job market remains remarkably solid, but manufacturing is...