Stocks fall as economic pain deepens, rally runs out of gas

NEW YORK (AP) — Wall Street closed out its first losing week in three with another drop on Friday after reports showed the pandemic is deepening the hole for the economy, as Washington prepares to throw it another lifeline. The S&P 500 fell 27.29, or 0.7%, to 3,768.25, with stocks of companies that...

December wholesale prices up 0.3% with sharp jump in energy

WASHINGTON (AP) — U.S. wholesale prices rose 0.3% in December led by a the biggest jump in energy costs since June. The Labor Department reported Friday that the gain in its producer price index, which measures inflation pressures before they reach consumers, followed a modest 0.1% gain in November and...

Wholesale prices rose 0.3% in December as energy prices jumped by the largest amount since June

Asian shares mixed following Biden speech, Wall St retreat

Asian shares were mixed on Friday after a late slide in several Big Tech stocks left major indexes lower on Wall Street. U.S. futures were trading slightly lower after President-elect Joe Biden announced his plans to propose a $1.9 billion package to help along a recovery from the coronavirus pandemic. Biden...

Powell signals Fed will keep aiding economy with bond buying

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Thursday to tamp down any concerns that the Fed might soon withdraw some of its support for the U.S. economy and stressed that any such pullback would be signaled far in advance. During an online discussion hosted by Princeton University, from...

Samsung promises new phones will deliver more for less money

SAN RAMON, Calif. (AP) — Samsung’s next crop of smartphones will boast bigger screens, better cameras, and longer-lasting batteries at lower prices than last year's lineup that came out just before the pandemic toppled the economy. The three Galaxy S21 phones unveiled Thursday at a virtual event...

Mortgage rates poised to rise as U.S. Treasury yields surge

LOS ANGELES (AP) — The long period of record-low rates on home loans could soon be over. Long-term bond yields, which can influence interest rates on mortgages and other consumer loans, are climbing this month amid expectations of higher U.S. government spending on pandemic relief and an economy recovery...

Asian shares mixed after lackluster day on Wall Street

Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai. U.S. futures were trading slightly higher after the U.S. House of...

Consumer prices up 0.4% in December led by higher gas prices

WASHINGTON (AP) — U.S. consumer prices rose 0.4% in December, led by a sharp rise in gasoline prices. Last month's increase, the largest in four months, followed a 0.2% rise in November and no change at all in October, according to Labor Department numbers released Wednesday. Inflation for all of 2020...

Asian stocks gain as markets watch for Biden stimulus plan

BEIJING (AP) — Asian stocks advanced Tuesday as investors watched for details of President-elect Joe Biden's promised economic stimulus plan. Shanghai, Tokyo and Hong Kong were higher. Seoul declined while Sydney swung between gains and losses. Overnight, Wall Street declined following a string of...