US futures sluggish ahead of Fed rate decision

U.S. futures dipped Wednesday ahead of the Fed’s 19-member policy committee meeting, where benchmark interest rates are expected to be lifted to the highest level in about 15 years. Futures for the S&P 500 dipped 0.2% before the bell, while the Dow Jones Industrial Average...

European inflation eases for 3rd month but prices still bite

LONDON (AP) — Europe's inflation rate dipped at the start of the year, giving some relief to consumers but still leaving them facing higher prices that have driven protests and will likely press the European Central Bank into another interest rate hike Thursday. The consumer price...

Lebanon sets new exchange rate, dramatically devalues pound

BEIRUT (AP) — Three years into a crippling financial crisis, Lebanon's Central Bank on Wednesday set a new exchange rate that effectively devalued the country's currency by 90% but did little to bridge the gap with the soaring black market rate. The dramatic measure is meant to...

Powell likely to stress Fed's inflation fight far from over

WASHINGTON (AP) — Inflation is cooling, and parts of the economy appear to be weakening. But Chair Jerome Powell is likely Wednesday to underscore that the Federal Reserve's primary focus remains the need to fight surging prices with still-higher interest rates. With financial...

Inflation drops again in the European Union countries that use the euro currency but still hits painful 8.5%

Asian stocks higher ahead of Fed rate decision

BEIJING (AP) — Asian stock markets were higher Wednesday after Wall Street rose ahead of what traders hope will be the last Federal Reserve interest rate hike for some time. U.S. futures edged lower, while oil prices gained. Traders assume the Fed will announce a...

How major US stock indexes fared Tuesday 1/31/2023

Wall Street closed out a strong January with more gains. The S&P 500 rose 1.5% Tuesday, marking its third winning month in the last four. The Dow rose 1.1% and the Nasdaq rose 1.7%. The gains came ahead of what many investors hope will be one of the Federal Reserve’s last hikes to interest...

Mexico's growth slows to 0.4% in 4Q, 3.6% in 2022

MEXICO CITY (AP) — Mexico’s economy slowed in the last quarter of 2022 but still managed to advance by 0.4%, bringing economic expansion for the full year to 3.6%, the National Statistics Institute announced Tuesday. The country’s gross domestic product had expanded by 0.9% in...

US consumer confidence lags as 2023 gets under way

American consumers are kicking off 2023 a bit less confident than they were at the end of last year as inflation and the possibility of a recession loom. The Conference Board reported Tuesday that its consumer confidence index slipped to a still-optimistic 107.1 in January, down from...

US wage growth slowed in the final quarter of 2022

WASHINGTON (AP) — Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won't fuel higher inflation. Wages and benefits, such as...