Latest Economy News

Stocks rise on Wall Street, but Apple loss weighs on tech

Dec. 02, 2021 14:36 PM EST

Stocks rose broadly in afternoon trading on Wall Street Thursday as investors continue to monitor the spread of the new coronavirus variant as well as measures that the U.S. and other governments are taking to restrain it. The S&P 500 rose 1.6% as of 2:16 p.m....

Economists: Kentucky farm sector may reap record receipts

Dec. 02, 2021 13:34 PM EST

Having endured bumpy seasons of global trade fights and slumping commodity prices, Kentucky agriculture appears poised to reap record-setting cash receipts this year — fueled by strong crop yields and surging grain exports, agricultural economists said Thursday. ...

Wall Street balks as Fed signals party's ending, but is it?

Dec. 02, 2021 13:23 PM EST

NEW YORK (AP) — The Federal Reserve's job, its longest-serving chairman once said, is to “take away the punch bowl just as the party gets going,” and that's exactly the message Wall Street took from comments by current Chair Jerome Powell this week. Stock prices...

Christmas tree buyers face reduced supplies, higher prices

Dec. 02, 2021 13:12 PM EST

ALAMEDA, Calif. (AP) — Even Christmas trees aren’t immune to the pandemic-induced shortages and inflation plaguing the economy. Extreme weather and supply chain disruptions have reduced supplies of both real and artificial trees this season. American shoppers should...

Aid official: Afghanistan's crises get 'progressively worse'

Dec. 02, 2021 12:10 PM EST

KABUL, Afghanistan (AP) — Afghanistan is being hit by multiple crises that are “progressively getting worse,” with drought, economic collapse and displacement all pushing the population into catastrophic hunger, a senior international aid official said Thursday. The...

Lawmakers reach deal on spending bill, but hurdles remain

Dec. 02, 2021 11:56 AM EST

WASHINGTON (AP) — Congressional leaders reached agreement Thursday on a spending bill that would keep the government running through mid-February, though a temporary federal shutdown was still possible this weekend because some Republican senators are objecting to the Biden administration's...

OPEC+ sticks to modest boost in oil output despite omicron

Dec. 02, 2021 11:45 AM EST

NEW YORK (AP) — OPEC and allied oil-producing countries decided Thursday to maintain the amount of oil they pump to the world even as the new omicron variant casts a shadow of uncertainty over the global economic recovery from the coronavirus pandemic. Officials from...

Tel Aviv is priciest city, outranking Paris in new report

Dec. 02, 2021 11:30 AM EST

TEL AVIV, Israel (AP) — Residents of Israel’s seaside metropolis Tel Aviv have for years complained of how expensive it is, with living costs taking a chunk out of their paychecks. Now a new report affirms their dissatisfaction with the prices. Tel Aviv has emerged as...

Ireland: UK-EU deal on Brexit trade spat unlikely this year

Dec. 02, 2021 10:33 AM EST

LONDON (AP) — The British and Irish governments expressed optimism Thursday that a thorny spat between the U.K. and the European Union over Northern Ireland trade can be resolved, but Ireland's top diplomat indicated that negotiations were likely to drag on into next year. ...

US long-term mortgage rates relatively flat this week

Dec. 02, 2021 10:19 AM EST

SILVER SPRING, Md. (AP) — The average interest rate for long-term mortgages in the U.S. remained flat this week, following the Federal Reserve suggesting that it would start tightening credit by raising its benchmark rate. Mortgage buyer Freddie Mac reported Thursday...