Latest Federal Reserve System News

Stock market today: Wall Street leaps after strong jobs report, Dow rallies 700

Jun. 02, 2023 15:30 PM EDT

NEW YORK (AP) — Stocks are rushing higher Friday after a strong report on the U.S. job market suggested a recession may not be as close as Wall Street had feared. The S&P 500 was 1.6% higher in late trading, the latest surge in a rally that's propelled it nearly 20% above a...

US hiring jumped last month. So did unemployment. Here's what that says about the economy.

Jun. 02, 2023 13:31 PM EDT

WASHINGTON (AP) — The nation’s employers stepped up their hiring in May, adding a robust 339,000 jobs, well above expectations and evidence of enduring strength in an economy that the Federal Reserve is desperately trying to cool. Friday's report from the government reflected the...

US employers added a robust 339,000 jobs in May in sign of a still-healthy labor market despite Fed rate hikes

Jun. 02, 2023 08:35 AM EDT
WASHINGTON (AP) — US employers added a robust 339,000 jobs in May in sign of a still-healthy labor market despite Fed rate hikes.

Stock market today: Asia follows Wall St up on hopes Fed will ease off rate hikes

Jun. 02, 2023 00:07 AM EDT

BEIJING (AP) — Asian stock markets followed Wall Street higher Friday ahead of an update on the U.S. jobs market after Federal Reserve officials reignited hopes another interest rate hike might be postponed and lawmakers gave final approval to a deal to avert a government debt default. ...

Know any airplane mechanics? A wave of retirements is leaving some US industries desperate to hire

Jun. 01, 2023 18:20 PM EDT

WASHINGTON (AP) — Kwasi Bandoh, a senior recruiter for an airline, stood before a group of aviation mechanic students at their graduation ceremony last month and congratulated them for all having jobs. As some of the students began nudging each other, Bandoh realized that perhaps...

How major US stock indexes fared Thursday 6/1/2023

Jun. 01, 2023 16:49 PM EDT

Wall Street closed higher on hopes that the Federal Reserve may soon take it easier on its hikes to interest rates, with the S&P 500 gaining 1% Thursday. Several reports painted a picture of a split U.S. economy. The job market remains remarkably solid, but manufacturing is...

Average long-term US mortgage rate climbs to 6.79% this week, highest level since November

Jun. 01, 2023 12:19 PM EDT

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since November, driving up borrowing costs for would-be homebuyers at a time when the housing market is being held back by a near record-low inventory of homes on the market. ...

US applications for unemployment benefits tick up slightly as labor market remains healthy

Jun. 01, 2023 08:56 AM EDT

The number of Americans filing for unemployment benefits rose slightly last week but remains at healthy levels that continue to show a strong U.S. labor market. U.S. applications for jobless claims were 232,000 for the week ending May 27, an increase of just 2,000 from the previous...

Stock market today: Asian shares mostly rise after House approves debt ceiling deal

May. 31, 2023 23:51 PM EDT

TOKYO (AP) — Asian benchmarks were mostly higher Thursday after the United States House of Representatives approved a debt ceiling and budget cuts package, avoiding a default crisis. But the enthusiasm was muted by worries about the Chinese economy after disappointing recent data...

Federal Reserve likely to skip interest rate hike at next meeting in June, officials signal

May. 31, 2023 19:48 PM EDT

WASHINGTON (AP) — Leading Federal Reserve officials are sending out stronger signals that they will forego an interest rate increase at the central bank's next meeting in June, though they indicate hikes could resume later this year. “Skipping a rate hike at a coming meeting...