Latest Economic outlook News

Beware of budget gimmicks in push for massive spending deals

Jul. 24, 2021 08:42 AM EDT

WASHINGTON (AP) — Senators fashioning a pair of colossal bills that would deliver more than $4 trillion for infrastructure, health care, environment and other initiatives insist they will fully pay for both plans. Will they? In a Washington ritual...

Bad Breadth: Whiff of danger as market gains lack scope

Jul. 22, 2021 10:46 AM EDT

NEW YORK (AP) — Even before Monday’s swoon — the worst day for stocks on Wall Street in a couple months — the market was flashing concerning signals. Chief among them were sharp moves in the bond market that indicated worsening expectations for economic growth and...

Asian shares fall on virus variant worries, Wall St retreat

Jul. 19, 2021 23:19 PM EDT

TOKYO (AP) — Asian shares fell Tuesday as worries were growing that a faster-spreading variant of the coronavirus could upend the global economic recovery. Japan's benchmark Nikkei 225 slipped 0.6% to 27,489.13 in early trading. South Korea's Kospi shed 0.4% to...

As stock prices peak, markets begin to fear looming threats

Jul. 16, 2021 11:43 AM EDT

NEW YORK (AP) — With the U.S. economy humming, corporate profits flowing and stock prices peaking, investors on Wall Street are beginning to pose an anxious question: Is it all downhill from here? Financial markets are always trying to set prices now for where the...

Wells Fargo beats expectations with $6 billion profit in 2Q

Jul. 14, 2021 09:50 AM EDT

SILVER SPRING, Md. (AP) — Wells Fargo had its most profitable quarter in two years, easily beating Wall Street estimates as the global economy continues its rapid improvement in the wake of the virus pandemic. Wells earned $6 billion in the period, or $1.38 per share,...

North Dakota oil tax savings account earnings beat forecast

Jul. 13, 2021 13:23 PM EDT

BISMARCK, N.D. (AP) — North Dakota’s trust fund for oil taxes is realizing hefty earnings due to a rebounding economy and better-than-expected stock investments, officials said Tuesday. Revenue from the Legacy Fund for the two-year budget cycle that ended last month...

China's June exports surge 32%, import growth slows

Jul. 13, 2021 02:03 AM EDT

BEIJING (AP) — China’s exports surged in June while import growth slowed to a still-robust level as its economic rebound from the coronavirus leveled off. Exports rose 32.2% from a year earlier to $281.4 billion, accelerating from May’s 28% growth, customs data...

UK economy takes another step toward pre-pandemic level

Jul. 09, 2021 05:36 AM EDT

LONDON (AP) — The British economy took another step toward its pre-pandemic level following the latest easing of lockdown restrictions, though the 0.8% growth recorded in May was around half that expected by economists as a microchip shortage hurt car production. ...

Asian shares slip after Wall Street retreat, bond yields dip

Jul. 09, 2021 00:30 AM EDT

BANGKOK (AP) — Shares were mostly lower in Asia on Friday after stocks pulled back from their recent record highs on Wall Street as bond yields fell and investors turned cautious. Tokyo’s Nikkei 225 lost nearly 2%. Shares fell in Seoul, Sydney and Shanghai but rose...

Fed officials discussed potential reduction in stimulus

Jul. 07, 2021 15:57 PM EDT

WASHINGTON (AP) — Federal Reserve officials started discussing at their meeting last month the timing and mechanics of reducing their huge monthly bond purchases, which are used to keep longer-term interest rates in check. The debate, revealed in the minutes of the...