Latest Economy News

Major indexes edge lower amid trade talk concerns

Nov. 14, 2019 3:45 PM EST

Major stock indexes were little changed on Wall Street late Thursday afternoon after a day of mostly listless trading kept the market hovering near its latest all-time high. The indexes wavered between small gains and losses as investors sized up mixed earnings reports from Walmart, Cisco Systems and other...

Pelosi says agreement on revamped NAFTA ‘imminent’

Nov. 14, 2019 3:44 PM EST

WASHINGTON (AP) — House Speaker Nancy Pelosi says she wants to see Congress pass President Donald Trump’s revamped North American free trade deal this year. In a news conference Thursday, the California Democrat said an agreement on the pact is “imminent.” The United States, Mexico and...

Powell urges Congress to tackle growing budget deficit

Nov. 14, 2019 3:23 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell on Thursday urged Congress to tackle the growing budget deficit but also underscored the current health of the nation’s economy. Powell’s testimony before the House Budget Committee came a day after he told Congress’ Joint...

US long-term mortgage rates rise; 30-year at 3.75%

Nov. 14, 2019 1:38 PM EST

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week amid optimism over prospects for the U.S. economy. Rates remain at historically low levels, however, as an incentive to prospective homebuyers. Mortgage giant Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage jumped...

US chickens headed to China after Beijing lifts 5-year ban

Nov. 14, 2019 1:15 PM EST

WASHINGTON (AP) — China is lifting a five-year ban on U.S. poultry, a goodwill gesture at a time when the world’s two biggest economies are trying to finalize a tentative trade deal. China had blocked U.S. poultry imports a month after an outbreak of avian influenza in December 2014, closing off a...

Arizona unemployment rate declines to 4.8 percent in October

Nov. 14, 2019 1:07 PM EST

PHOENIX (AP) — State economic analysts report that Arizona’s seasonally adjusted unemployment rate slipped to 4.8 percent in October, down from 4.9 percent in September, as nonfarm employment rose by 31,600 jobs. The Arizona Commerce Authority said Thursday in its monthly report that the jobs...

Markets Right Now: S&P 500, Dow lower as tech falters

Nov. 14, 2019 12:12 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 12:00 p.m. The major stock indexes are edging lower Thursday, with the Dow and S&P 500 slipping below records set a day earlier. The tech sector showed the biggest decline. Cisco fell 7.4% after giving investors a...

The Latest: Deval Patrick files for New Hampshire primary

Nov. 14, 2019 11:58 AM EST

WASHINGTON (AP) — The Latest on former Massachusetts Gov. Deval Patrick’s 2020 presidential bid (all times local): 11:55 a.m. Deval (deh-VAL') Patrick has filed for the New Hampshire presidential primary as he officially begins a last-minute 2020 campaign. The former Massachusetts governor is hoping...

Walmart offers holiday cheer as traditional peers struggle

Nov. 14, 2019 11:40 AM EST

NEW YORK (AP) — Walmart is offering some holiday cheer heading into the crucial Christmas shopping season even as many of its traditional peers struggle. The nation’s largest retailer raised its annual profit expectations on Thursday after reporting strong third-quarter results helped by its grocery...

The Latest: Powell dismisses recession concerns

Nov. 14, 2019 11:30 AM EST

WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony before the House Budget Committee on Thursday (all times local): ___ 11:30 a.m. Fed Chairman Jerome Powell says the United States has the “star economy” in the world at the moment and there is no reason...