Latest Inflation News

Wall Street drifts as stocks take a pause after choppy ride

Feb. 07, 2023 10:00 AM EST

NEW YORK (AP) — Stocks are drifting on Wall Street Tuesday amid uncertainty in the market about where interest rates and inflation are heading. The S&P 500 was 0.2% lower in relatively quiet morning trading. The Dow Jones Industrial Average was down 120 points, or 0.4%, at...

Australia lifts cash rate to 3.35% with 9th rate hike

Feb. 07, 2023 00:03 AM EST

CANBERRA, Australia (AP) — Australia's central bank on Tuesday lifted its benchmark interest rate for a ninth consecutive time to 3.35% as it battles inflation that rose to 7.8% in the latest quarter. The Reserve Bank of Australia’s decision to increase its cash rate by 0.25 of a...

Asian stocks rebound after Wall St sinks on rate fears

Feb. 06, 2023 22:56 PM EST

BEIJING (AP) — Asian stock markets rebounded Tuesday after Wall Street sank under pressure from worries about higher interest rates and after Japan reported stronger wage gains than expected. Shanghai, Tokyo, Hong Kong and Seoul advanced. Oil prices rose. Wall Street...

A-Mark: Fiscal Q2 Earnings Snapshot

Feb. 06, 2023 16:40 PM EST

EL SEGUNDO, Calif. (AP) — EL SEGUNDO, Calif. (AP) — A-Mark Precious Metals Inc. (AMRK) on Monday reported fiscal second-quarter net income of $33.5 million. The El Segundo, California-based company said it had profit of $1.35 per share. Earnings, adjusted for non-recurring costs,...

Liz Weston: ‘Bridge’ your way to Social Security

Feb. 06, 2023 09:41 AM EST

Delaying the start of Social Security benefits is a powerful way for retirees to cope with inflation, survive bad investment markets and reduce the risk they’ll run short of money. The advantages of waiting are so great that financial planners often recommend their clients tap other savings, such...

Asian stocks sink after US jobs data fan rate hike fears

Feb. 05, 2023 23:29 PM EST

BEIJING (AP) — Asian stock markets sank Monday after strong U.S. jobs data fanned fears of more interest rate hikes to cool inflation. Shanghai, Hong Kong and Seoul retreated. Tokyo gained. Oil prices edged higher. Wall Street wilted Friday after official data showed...

State of the Union: Biden sees economic glow, GOP sees gloom

Feb. 04, 2023 11:56 AM EST

WASHINGTON (AP) — Going into Tuesday's State of the Union address, President Joe Biden sees a nation with its future aglow. Republicans take a far bleaker view — that the country is beset by crushing debt and that Biden is largely responsible for inflation. And the GOP now holds...

Wall Street rally hits wall of hot jobs, cold earnings data

Feb. 03, 2023 16:22 PM EST

NEW YORK (AP) — Wall Street’s big rally to start the year wilted on Friday after a surprisingly strong jobs report fueled worries about inflation and higher interest rates. The S&P 500 fell 1% for its first drop in four days, though it took an up-and-down route to get there....

An unexpected job surge confounds the Fed's economic models

Feb. 03, 2023 12:47 PM EST

WASHINGTON (AP) — Does the Federal Reserve have it wrong? For months, the Fed has been warily watching the U.S. economy's robust job gains out of concern that employers, desperate to hire, would keep boosting pay and, in turn, keep inflation high. But January’s blowout job...

A surprising burst of US hiring in January: 517,000 jobs

Feb. 03, 2023 12:15 PM EST

WASHINGTON (AP) — For nearly a year, the Federal Reserve has been on a mission to cool down the job market to help curb the nation's worst inflation bout in four decades. The job market hasn't been cooperating. Consider what happened in January: The government said...