Latest Economy News

FILE - In this Sept. 3, 2019 file photo a sign rests in front of a newly constructed home, in Westwood, Mass. U.S. home prices rose in April for the eighth straight month, even as sales have stumbled, a sign the coronavirus outbreak has had little impact on real estate values. The S&P CoreLogic Case-Shiller 20-city home price index climbed 4% in April, the largest gain since December 2018, up from 3.9% in March. (AP Photo/Steven Senne, File)

S&P CoreLogic Case-Shiller: US home prices up 5.2% in August

Oct. 27, 2020 9:03 AM EDT

WASHINGTON (AP) — U.S. home prices posted a robust gain in August — another sign that the American housing market remains strong despite economic fallout from the coronavirus pandemic. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, showed that home prices climbed 5.2%...

FILE - In this Sept. 23, 2019, file photo, clothes dryers, top, are stacked on top of washing machines at a Home Depot store location, in Boston.  Orders to U.S. factories for big-ticket manufactured goods increased a weak 0.4% in August following a much larger July gain. The Commerce Department reported Friday, Sept. 25, 2020 that the August advance marked the fourth consecutive increase but was far lower than the 11.7% surge seen in July.  (AP Photo/Steven Senne, File)

September orders for big-ticket manufactured goods up 1.9%

Oct. 27, 2020 8:54 AM EDT

WASHINGTON (AP) — Orders to U.S. factories for big-ticket manufactured goods rose a better-than-expected 1.9% in September with a key category that tracks business investment showing a solid gain as well. The rise in durable goods orders followed a smaller 0.4% increase in August and was the best gain...

FILE - In this July 1, 2020, file photo, Instacart worker Saori Okawa loads groceries into her car for home delivery in San Leandro, Calif. There are plenty of jobs in the gig work arena. To stay safe and find the right fit, evaluate the risks, expand your search beyond the obvious roles and calculate how much you’ll really make after taking expenses such as fees and insurance into account. (AP Photo/Ben Margot, File)

Millennial Money: Picking a pandemic side gig takes hustle

Oct. 27, 2020 8:45 AM EDT

Side gig. Side job. Side hustle. It goes by many names and serves many purposes. For some, it’s a way to keep the lights on. For others, it’s an opportunity to save for a goal or follow a passion. Since the onset of the COVID-19 pandemic, millions of Americans have become unemployed. Many are...

Orders for big-ticket manufactured goods increased 1.9% in September with a key business investment category up as well

Oct. 27, 2020 8:39 AM EDT
WASHINGTON (AP) — Orders for big-ticket manufactured goods increased 1.9% in September with a key business investment category up as well.
FILE - In this Sept. 18, 2019, photo a Puckett Machinery Company technician walks past a new heavy duty Caterpillar excavator that awaits modification at Puckett Machinery Company in Flowood, Miss. Caterpillar is reporting a third-quarter profit of $668 million and topped most expectations, though demand for its equipment is being driven down by the pandemic. The Deerfield, Illinois, company reported a profit Tuesday, Oct. 27, 2020, of $1.22 per share. (AP Photo/Rogelio V. Solis, File)

As pandemic depresses demand, Caterpillar muscles through 3Q

Oct. 27, 2020 8:22 AM EDT

Caterpillar’s sales fell 23% in the third quarter as the pandemic throttled demand for construction equipment and a trade war with China continues to create headwinds. The company still managed to top Wall Street expectations, despite rising COVID-19 infections that hamper almost all sectors, including...

An employee closes his cafeteria before curfew in Barcelona on Monday, Oct. 26, 2020. Spain orders nationwide curfew to stem worsening outbreak. Spanish Prime Minister Pedro Sánchez has declared a second nationwide state of emergency in hopes of stemming a resurgence in coronavirus infections. (AP Photo/Emilio Morenatti)

Spain tries to reverse economic slump as unemployment rises

Oct. 27, 2020 7:45 AM EDT

MADRID (AP) — The Spanish government plans to increase taxes on big corporations and the wealthy and use 27 billion euros ($31.8 billion) in European grants as it tries to reverse one of the deepest coronavirus-related slumps among developed economies. The country is grappling with a resurgence of the...

Indian Defence Minister Rajnath Singh, center, gestures towards U.S. Secretary of State Mike Pompeo, left, with Indian Foreign Minister Subrahmanyam Jaishankar, right, standing beside him, ahead of their meeting at Hyderabad House in New Delhi, India, Tuesday, Oct. 27, 2020. In talks on Tuesday with their Indian counterparts, Pompeo and Esper are to sign an agreement expanding military satellite information sharing and highlight strategic cooperation between Washington and New Delhi with an eye toward countering China. (Adnan Abidi/Pool via AP)

Pompeo, Esper drive US anti-China message in India visit

Oct. 27, 2020 6:59 AM EDT

NEW DELHI (AP) — U.S. Secretary of State Mike Pompeo and Defense chief Mark Esper stepped up the Trump administration’s anti-China message in India on Tuesday, exactly a week ahead of America’s presidential election. With President Donald Trump in a tight race for a second term against...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Oct. 27, 2020. Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. (AP Photo/Vincent Yu)

World shares slip after Wall St's worst day in a month

Oct. 27, 2020 4:47 AM EDT

Shares skidded in Europe and Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. Stock benchmarks fell in Paris, London, Hong Kong, Sydney and Seoul. Tokyo was flat. Shanghai recovered from early losses to edge higher. Overnight,...

A woman walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, Oct. 27, 2020. Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. (AP Photo/Vincent Yu)

Asian shares slip after Wall St's worst day in a month

Oct. 27, 2020 12:10 AM EDT

Shares skidded in Asia on Tuesday after surging coronavirus cases and waning hopes for U.S. economic stimulus gave Wall Street its worst day in a month. Stock benchmarks fell in Tokyo, Shanghai, Hong Kong and Sydney. Shares were flat in South Korea, where economic growth data were slightly better than expected. ...

Democratic presidential candidate former Vice President Joe Biden holds up his face mask as he speaks to members of the media outside a voter service center, Monday, Oct. 26, 2020, in Chester, Pa. (AP Photo/Andrew Harnik)

Trump, Biden hit battleground Pennsylvania amid pandemic

Oct. 26, 2020 9:07 PM EDT

ALLENTOWN, Pa. (AP) — President Donald Trump and Democratic rival Joe Biden zeroed in on the critical battleground of Pennsylvania on Monday, demonstrating starkly different approaches to rallying voters just eight days before polls close during the worst public health crisis in a century. Trump drew...