Latest Financial markets News

Oil price drops for 2nd day despite heightened Gulf tensions

Sep. 18, 2019 5:10 PM EDT

NEW YORK (AP) — Oil prices retreated for a second day Wednesday even as the Saudi military blamed Iran for recent attacks to critical oil infrastructure and U.S. Secretary of State Mike Pompeo called the strike an "act of war." Benchmark U.S. crude fell 2% to close at $58.11 per barrel. It fell nearly 5.7%...

How major US stock indexes fared Wednesday

Sep. 18, 2019 5:03 PM EDT

Major U.S. stock indexes closed mostly higher Wednesday after the Federal Reserve delivered an expected cut in interest rates. Stocks initially fell after the Fed announcement, which revealed central bank policymakers are divided about the upcoming path for interest rates. The market rebounded as Fed Chairman...

US stocks end mixed following Fed's decision to cut rates

Sep. 18, 2019 5:00 PM EDT

Major U.S. stock indexes closed mostly higher Wednesday after the Federal Reserve cut its benchmark interest rate for a second time this year, citing slowing global economic growth and uncertainty over U.S. trade conflicts. Gains in banks, utilities and technology companies outweighed losses elsewhere in the...

Markets Right Now: Stocks sink then recover after Fed cut

Sep. 18, 2019 4:26 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are rebounding at the close of trading, led by banks and big tech names, after the Federal Reserve delivered an expected cut in interest rates. Stocks initially fell after the Fed announcement, after the Fed...

What the Fed's rate cut means for you

Sep. 18, 2019 4:03 PM EDT

The Federal Reserve has cut its benchmark interest rate again, big news for the U.S. economy but something that will likely have a muted impact on Americans' personal finances, experts say. That's because the reduction doesn't offset the increases of recent years. And as the key rate creeps closer to zero,...

The Latest: Powell says Fed facing "difficult judgments"

Sep. 18, 2019 3:01 PM EDT

WASHINGTON (AP) — The Latest on the Federal Reserve's monetary policy meeting (all times local): 2:50 p.m. Federal Reserve Chair Jerome Powell acknowledges that officials at the U.S. central bank are fractured about next steps on interest rates. Forecasts from the Fed show uncertainty about the course of...

Residents seek backup power as storms, fires cause blackouts

Sep. 18, 2019 10:01 AM EDT

NEW YORK (AP) — Climate change has led to deadlier wildfire seasons in the American West and more severe hurricanes and storms barreling up the Southern and Eastern coasts. The dramatic weather frequently knocks out power, leading some residents of storm-ridden or fire-prone areas to seek backup power...

Stocks mixed ahead of Fed, oil dips on Saudi output recovery

Sep. 18, 2019 8:24 AM EDT

BEIJING (AP) — Global stocks were little changed Wednesday as investors watched for a U.S. Federal Reserve decision on a possible interest rate cut and as oil prices eased on hopes for a quick recovery in Saudi oil supplies. Benchmarks in London, Frankfurt and Shanghai advanced while Tokyo and Hong Kong...

China releases stockpiled pork to cool price surge

Sep. 18, 2019 2:29 AM EDT

BEIJING (AP) — China's government is releasing pork from stockpiles to help cool surging prices ahead of Oct. 1 celebrations of the Communist Party's 70th anniversary in power. The price of pork, China's staple meat, has soared almost 50% from a year ago due to a devastating outbreak of African swine fever...

How major US stock indexes fared Tuesday

Sep. 17, 2019 5:16 PM EDT

U.S. stock indexes ticked closer to record heights on Tuesday, as oil prices gave back nearly half their day-earlier gains. Treasury yields fell as the Federal Reserve opened a two-day meeting where it's expected to announce a second rate cut in as many months. On Tuesday: The S&P 500 rose 7.73 points, or...