Latest Economy News

US consumer sentiment falls slightly as outlook for inflation worsens

Apr. 12, 2024 11:10 AM EDT

WASHINGTON (AP) — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans' outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this...

China's exports tumble 7.5% in March and imports also fall as demand slows

Apr. 12, 2024 07:41 AM EDT

HONG KONG (AP) — China’s exports contracted in March after growing in the first two months of the year, underscoring the uneven nature of the country's recovery from the pandemic. Customs data released Friday show exports declined 7.5% in March from a year earlier, while imports...

Stock market today: Asia stocks are mostly lower after Wall St rebound led by Big Tech

Apr. 12, 2024 00:36 AM EDT

HONG KONG (AP) — Asia stocks were mostly lower on Friday after gains for Big Tech shares helped U.S. stock indexes claw back much of their slide from the day before. U.S. futures and oil prices were higher. In Tokyo, the Nikkei 225 index was up 0.4% at 39,609.60,...

U.S. stocks soar above global markets, giving investors solid path for growth

Apr. 11, 2024 21:03 PM EDT

NEW YORK (AP) — U.S. markets are far outpacing their global counterparts in 2024, continuing a decade-long trend of strong growth compared with the rest of the world. The S&P 500 is up 10% for the year, compared to just 4% for developed markets outside the U.S. Since 2019 the...

As world's central banks wrestle with when to cut rates, Europe signals it's ready to move

Apr. 11, 2024 11:11 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business...

Switzerland lays out new 'too big to fail' rules in wake of Credit Suisse banking turmoil last year

Apr. 10, 2024 14:15 PM EDT

GENEVA (AP) — The Swiss government Wednesday announced steps to bolster its “too big to fail” rules aimed at avoiding potentially disastrous fallout from banking sector turmoil after woes last year at Credit Suisse before it was taken over by rival UBS. Finance Minister Karin...

Thai prime minister unveils details of a $13.7 billion digital money handout plan

Apr. 10, 2024 07:21 AM EDT

BANGKOK (AP) — Thailand's Prime Minister Srettha Thavisin on Wednesday revealed details of his government’s plan to stimulate the economy by giving digital cash handouts of 10,000 baht ($275) to an estimated 50 million Thais for spending at their local businesses. Srettha said at...

China says economy 'stable,' rejects Fitch Ratings downgrade of its fiscal outlook

Apr. 10, 2024 04:47 AM EDT

BANGKOK (AP) — China’s Finance Ministry denounced a report by Fitch Ratings that kept its sovereign debt rated at A+ but downgraded its outlook to negative, saying Wednesday that China’s deficit is at a moderate and reasonable level and risks are under control. Risks to China's...

JPMorgan's Dimon warns inflation, political polarization, wars creating risks not seen since WWII

Apr. 08, 2024 11:24 AM EDT

NEW YORK (AP) — The nation’s most influential banker, JPMorgan Chase CEO Jamie Dimon, told investors Monday that he continues to expect the U.S. economy to be resilient and grow this year. But he worries geopolitical events including the war in Ukraine and the Israel-Hamas war, as well as U.S....

When will Fed cut rates? As US economy flexes its muscles, maybe later or not at all

Apr. 06, 2024 07:26 AM EDT

WASHINGTON (AP) — Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates? ...