Latest Economy News

Asian shares mixed after S&P 500 touches all-time high

Aug. 21, 2018 10:58 PM EDT

TOKYO (AP) — Asian shares were mixed Wednesday, as some markets were cheered by bullish sentiments on Wall Street despite concerns about an ongoing trade dispute with China. KEEPING SCORE: Japan's benchmark Nikkei 225 gained 0.3 percent in morning trading to 22,279.89. Australia's S&P/ASX 200 lost 0.5...

Strong quake rocks Venezuela but little damage reported

Aug. 21, 2018 8:47 PM EDT

CARACAS, Venezuela (AP) — A powerful earthquake shook Venezuela's northeastern coast on Tuesday, forcing residents in the capital to evacuate buildings and interrupting a pro-government rally in support of controversial economic reforms. The 7.3 quake was the largest to strike Venezuela since 1900,...

Kohl's puts up big 2Q numbers, raises profit outlook

Aug. 21, 2018 5:57 PM EDT

MENOMONEE FALLS, Wis. (AP) — Kohl's breezed past Wall Street's second-quarter profit and revenue expectations and raised its profit outlook for the year. Investors at first punished the stock but grew more optimistic as the day went on, pushing up the company's shares nearly 2 percent Tuesday. Like many...

How major US stock indexes fared Tuesday

Aug. 21, 2018 5:15 PM EDT

U.S. stocks closed higher Tuesday, briefly sending the S&P 500 index to an all-time high. The benchmark index eked out a slight gain, finishing a little below the high mark it set in January. The gain, which carried the Russell 2000 index of small-company stocks to an all-time high, came as the market's bull...

Markets Right Now: Stocks gain as bull run nears a milestone

Aug. 21, 2018 4:10 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. The S&P 500 index briefly traded at an all-time high as the stock market's bull run comes closer to becoming the longest on record. The benchmark index closed slightly higher on Tuesday, but a little below the...

Brazil's real below $0.25 amid uncertainty ahead of election

Aug. 21, 2018 3:23 PM EDT

SAO PAULO (AP) — Brazil's currency is falling against the U.S. dollar, continuing a slide fueled by uncertainty ahead of presidential elections. The real fell below $0.25 on Tuesday. It has lost about 20 percent of its value against the American currency in the past year. The last time it was so weak...

Salvador denies asking Taiwan for money before China switch

Aug. 21, 2018 3:12 PM EDT

SAN SALVADOR, El Salvador (AP) — Salvadoran authorities on Tuesday denied having asked Taiwan for money in exchange for maintaining diplomatic relations with the self-governing island, saying its decision to switch recognition to China was due to the enormous advantages of trading with the economic giant....

Venezuelans confused over new bills under economic overhaul

Aug. 21, 2018 3:07 PM EDT

CARACAS, Venezuela (AP) — Venezuelans confused over the new banknotes popping out of their ATMs on Tuesday resorted to using calculators and conversion charts to figure out the value of each bill as the country's new currency — with five fewer zeros — started circulating. "I still don't...

US adds to growing list of sanctions on Russia

Aug. 21, 2018 2:59 PM EDT

WASHINGTON (AP) — The Trump administration added to its growing list of sanctions against Russia on Tuesday as U.S. lawmakers urged tighter economic restrictions on Moscow and Britain's top diplomat accused Russia's leader of pursuing policies that are making the world more dangerous. The Treasury...

A look at the leading candidates for Brazil's presidency

Aug. 21, 2018 2:11 PM EDT

SAO PAULO (AP) — With poll-leading former President Luiz Inacio Lula da Silva in jail and likely to be barred from running, Brazil's presidential election is wide open. A look at the five contenders with the best chances, according to polls: JAIR BOLSONARO The former army captain and seven-term congressman...