Stock market today: Dow sets a record as Wall Street drifts to the finish of another winning week

NEW YORK (AP) — U.S. stocks closed another record-setting week with a muted performance Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession. The S&P 500 edged down by 0.1% from its...

Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts

WASHINGTON (AP) — The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1% from July to August, the Commerce...

Federal Reserve's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts

Richmond Fed president urges caution on interest rate cuts because inflation isn't defeated

WASHINGTON (AP) — The president of the Federal Reserve's Richmond branch says he supports reducing the central bank's key interest rate “somewhat” from its current level but isn't yet ready for the Fed to fully take its foot off the economy's brakes. In an interview Thursday...

Stock market today: Wall Street ticks to another record as stocks worldwide rally

NEW YORK (AP) — U.S. stocks rose to another record Thursday as financial markets around the world rallied again. The S&P 500 added 0.4% to set an all-time high for the third time this week and the 42nd time this year. The Dow Jones Industrial Average gained 260 points, or...

Average rate on a 30-year mortgage slips to 6.08%, lowest level in 2 years

The average rate on a 30-year mortgage in the U.S. slipped to its lowest level in two years this week, boosting home shoppers' purchasing power as they navigate a housing market with prices near all-time highs. The rate dipped to 6.08% from to 6.09% last week, mortgage buyer Freddie...

US economy grew at a solid 3% rate last quarter, government says in final estimate

WASHINGTON (AP) — The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Thursday, leaving its previous estimate unchanged. The Commerce Department reported that the...

The number of Americans filing for jobless aid falls to lowest level in 4 months

The number of Americans applying for unemployment benefits last week fell to the lowest level in four months. The Labor Department reported Thursday that applications for jobless claims fell by 4,000 to 218,000 for the week of Sept. 21. It was the fewest since mid-May and less than...

Stock market today: Wall Street edges back from its record highs

NEW YORK (AP) — U.S. stocks edged back from their records Wednesday as financial markets around the world took a pause following big recent moves. The S&P 500 slipped 0.2% a day after setting an all-time high for the 41st time this year. The Dow Jones Industrial Average...

Stock market today: Wall Street drifts to more records after Chinese stocks soar

NEW YORK (AP) — U.S. stocks drifted to more records Tuesday after Chinese stocks soared following a slew of moves by the Chinese central bank to prop up the world’s second-largest economy. The S&P 500 rose 0.3% to set an all-time high for the 41st time this year. The...