Latest Federal Reserve System News
Barely a bear: Wall Street exits what turned out to be a fairly tame bear market
NEW YORK (AP) — While it seemed scary and interminable, Wall Street's bear market last year was meeker than most. After the S&P 500 on Thursday closed at a level more than 20% above where it was in mid-October, Wall Street can give official dates for the birth and death of its...
The S&P 500 is in a bull market. Here's what that means and how long the bull might run
The S&P 500 is now in what Wall Street refers to as a bull market, meaning the index has risen 20% or more from its most recent low. Here are some answers to questions about bull and bear markets: WHY IT IS CALLED A BULL MARKET? Wall Street’s...
Stock market today: Bulls run again on Wall Street as S&P 500 climbs 20% above October low
NEW YORK (AP) — Stocks rose just enough Thursday for Wall Street to barrel into a new bull market as the S&P 500 keeps rallying off its low from last autumn. The index rose 0.6% to carry it 20% above a bottom hit in October. That means Wall Street’s main measure of health has...
Boost for homebuyers: Average long-term US mortgage rate eases from 7-month high to 6.71% this week
LOS ANGELES (AP) — The average long-term U.S. mortgage rate eased back from a seven-month high this week, a welcome change for homebuyers navigating high borrowing costs and heightened competition for relatively few homes for sale. Mortgage buyer Freddie Mac said Thursday that the...
US applications for jobless benefits highest since October 2021
The number of Americans applying for unemployment benefits last week rose to its highest level since October 2021, but the labor market remains one of the healthiest parts of the U.S. economy. The Labor Department reported Thursday that U.S. applications for jobless claims were...
Stock market today: Asian shares slip following technology selloff on Wall Street
TOKYO (AP) — Asian shares fell Thursday after heavy selling of big-name tech stocks pushed benchmarks lower on Wall Street. Markets declined across the region and U.S. futures also were lower. Oil prices retreated. The declines came despite a sharp upward revision...
Is it a 'skip' or a 'pause'? Federal Reserve won't likely raise rates next week but maybe next month
WASHINGTON (AP) — Don't call it a “pause.” When the Federal Reserve meets next week, it is widely expected to leave interest rates alone — after 10 straight meetings in which it has jacked up its key rate to fight inflation. But what might otherwise be seen as...
Stock market today: Asian stocks mixed as Wall St inches toward bull market
BANGKOK (AP) — Asian shares were mixed Wednesday after a day of listless trading on Wall Street in the absence of market-moving data. China reported its exports fell 7.5% from a year earlier in May and imports were down 4.5%, adding to signs of a slowing of its economic recovery...
Australian central bank boosts cash rate to 4.1% with 12th hike
CANBERRA, Australia: (AP) — Australia’s central bank on Tuesday lifted its benchmark interest rate for a 12th consecutive time, to 4.1%, and warned further rises could follow. The Reserve Bank of Australia boosted the cash rate by a quarter of a percentage point at its latest...
Stock market today: Asian stocks rise after Wall St retreats on concern economy weakening
BEIJING (AP) — Asian stock markets rose Tuesday after Wall Street fell on concern the U.S. economy may be weakening following a report that showed growth in service industries slowing. Shanghai, Tokyo and Hong Kong rose. Sydney retreated. Oil prices declined. Wall...
