Latest Economic growth News

Energy stocks swing with economic signals, Mideast tensions

Jun. 20, 2019 2:09 PM EDT

NEW YORK (AP) — Energy stocks have gone along with oil prices on a wild ride this quarter. Oil prices steadily rose through April and then sank as the trade war between the U.S. and China escalated and threatened global economic growth. More recently, rising tensions between the U.S. and Iran have pushed...

US stocks climb, sending S&P 500 within range of a new high

Jun. 20, 2019 2:02 PM EDT

Gains in technology and energy companies helped drive stocks broadly higher on Wall Street Thursday afternoon, nudging the S&P 500 closer to a new high. The benchmark index was hovering around the record close it reached April 30. A strong rebound for stocks this month has erased most of the S&P 500's...

Asian shares gain, Shanghai up 2.6%, on Fed rate cut talk

Jun. 20, 2019 12:43 AM EDT

BANGKOK (AP) — Asian shares were higher on Thursday, with the Shanghai benchmark up 2.6%, after the Federal Reserve reaffirmed that it's prepared to cut interest rates if needed to shield the U.S. economy from trade conflicts or other threats. The Thursday tracked modest gains on Wall Street. The 10-year...

Trump honors economist who advised him on lowering taxes

Jun. 19, 2019 6:35 PM EDT

WASHINGTON (AP) — President Donald Trump awarded the Presidential Medal of Freedom on Wednesday to economist Arthur Laffer, whose disputed theories on tax cuts have guided Republican policy since the 1980s. Laffer, 78, advised Trump during his presidential campaign and co-wrote a flattering book,...

Report: Major hurricane could cost Virginia $40 billion

Jun. 18, 2019 10:45 AM EDT

NORFOLK, Va. (AP) — Experts say that southeastern Virginia could suffer $40 billion in losses if it's struck by a major hurricane. Professors from Old Dominion University said in a recent report that the damages could seriously puncture the regional economy. The June 12 report said losses could equate to...

Economic reggae: Jamaican bank sells recovery with songs

Jun. 18, 2019 10:41 AM EDT

KINGSTON, Jamaica (AP) — Jamaica's central bank thinks the country's economy is doing very well and it is using an instantly recognizable symbol of the island to get this message to the people: reggae music. In the bank's latest video, reggae artist Tarrus Riley uses his throaty vocals to praise low,...

Asian markets mostly edge higher ahead of Fed meeting

Jun. 17, 2019 11:43 PM EDT

SINGAPORE (AP) — Stocks in Asia mostly advanced Tuesday ahead of interest rate decisions by the U.S. Federal Reserve and other central banks. The Kospi in South Korea gained 0.5% to 2,101.43, and Hong Kong's Hang Seng picked up 0.9% to 27,471.19. The Shanghai Composite index jumped 0.2% to 2,892.53, while...

How major US stock indexes fared Monday

Jun. 17, 2019 4:37 PM EDT

U.S. stocks posted slight gains on Wall Street on Monday, adding a bit to the last two weeks of gains. However, trading remains choppy as uncertainty continued over several ongoing trade disputes and their possible effect on economic growth. On Monday: The S&P 500 index rose 2.69 points, or 0.1%, to 2,889.67....

Stocks post small losses; investors look ahead to Fed

Jun. 14, 2019 5:02 PM EDT

NEW YORK (AP) — Stocks ended a choppy week of trading with modest losses Friday as investors look forward to getting more clues about the direction of interest rates. Technology shares drove the declines, and energy stocks also fell a day after leading the market. Some late-day gains in banks and insurers...

Major oil companies commit to carbon pricing at Vatican

Jun. 14, 2019 3:48 PM EDT

VATICAN CITY (AP) — Some of the world's major oil producers pledged Friday to support "economically meaningful" carbon pricing regimes after a personal appeal from Pope Francis to avoid "perpetrating a brutal act of injustice" against the poor and future generations. The companies, including ExxonMobil,...