Latest Economy News

Myanmar's economy in crisis as civil strife disrupts trade and livelihoods

Jun. 12, 2024 05:06 AM EDT

BANGKOK (AP) — Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country’s civil war increasingly disrupts trade and livelihoods. World Bank economists estimate the country's economy grew at a 1% annual pace in the year that ended in March, more...

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

Jun. 11, 2024 09:33 AM EDT

WASHINGTON (AP) — The World Bank upgraded its outlook for the global economy Tuesday, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. The bank's latest outlook marks an increase from the 2.4% growth for 2024 it had predicted...

Stock market today: Asian stocks are mixed ahead of this week's Fed meeting

Jun. 11, 2024 00:22 AM EDT

HONG KONG (AP) — Asian stocks were mixed on Tuesday in a busy week with several top-tier reports on U.S. inflation due along with a policy meeting of the Federal Reserve. U.S. futures and oil prices fell. In Tokyo, the Nikkei 225 index was up 0.3% at 39,155.16 as an...

Biden's team asks CEOs how to further boost the economy while Trump says business is on his side

Jun. 10, 2024 10:04 AM EDT

WASHINGTON (AP) — On the campaign trail, President Joe Biden likes to take a hard thwack at corporate America. The Democrat tells voters that companies should pay more in taxes and he blames many businesses for fueling higher prices by stoking “greedflation” and...

Japan's economy is shrinking, although slightly less than previously thought

Jun. 09, 2024 23:57 PM EDT

TOKYO (AP) — The Japanese economy shrank at an annual rate of 1.8% in the first quarter of this year, slightly better than the initial estimate at a 2.0% contraction, according to revised government data Monday. The revision was due to private sector investments, at minus 0.4%, up...

Stock market today: Stocks slip and bond yields jump following a hotter-than-expected jobs report

Jun. 07, 2024 17:03 PM EDT

NEW YORK (AP) — Stocks slipped and Treasury yields rose sharply Friday after the government released a jobs report whose headline numbers came in hotter than expected. Overall, the report suggests markets may have to wait even longer for interest rate cuts from the Federal Reserve....

US hiring and wage growth picked up last month in sign of sustained economic health

Jun. 07, 2024 11:25 AM EDT

WASHINGTON (AP) — America’s employers added a strong 272,000 jobs in May, accelerating from April and a sign that companies are still confident enough in the economy to keep hiring despite persistently high interest rates. Last month’s sizable job gain suggests that the economy...

Stock market today: Asian stocks rise after Wall Street barrels to records

Jun. 06, 2024 00:21 AM EDT

HONG KONG (AP) — Asian markets rose Thursday after Wall Street barreled to records Wednesday as the frenzy around artificial-intelligence technology kept sending stocks higher. U.S. futures and oil prices gained. In Tokyo, the Nikkei 225 index climbed 0.9% to...

How major US stock indexes fared Wednesday, 6/5/2024

Jun. 05, 2024 16:25 PM EDT

Wall Street barreled to all-time highs as its frenzy around artificial-intelligence technology keeps sending stocks higher. The S&P 500 jumped 1.2% Wednesday to beat its record set two weeks ago. The Nasdaq composite rallied even more, 2%, to set its own all-time high. The Dow...

Stock market today: Asian stocks trade mixed after Wall Street logs modest gains

Jun. 04, 2024 23:18 PM EDT

TOKYO (AP) — Asian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides for Wall Street. Japan's benchmark Nikkei 225 shed 1.0% in early trading to 38,448.61. Australia's S&P/ASX 200 edged up...