Latest Federal Reserve System News

Wall Street slips as weak earnings hit tech, travel stocks

Aug. 09, 2022 16:06 PM EDT

Stocks are closing lower on Wall Street as disappointing earnings reports weighed on technology and travel companies. The S&P 500 fell 0.4%, while the Dow Jones Industrial Average and the Nasdaq also slipped Tuesday afternoon. Chipmaker Micron Technology fell after warning investors that...

US inflation will likely stay high even as gas prices fall

Aug. 09, 2022 14:16 PM EDT

WASHINGTON (AP) — Americans may finally be catching a break from relentlessly surging prices — if just a slight one — even as inflation is expected to remain painfully high for months. Thanks largely to falling gas prices, the government’s inflation report for July, to be...

Asian shares mostly decline on global technology downturn

Aug. 08, 2022 23:57 PM EDT

TOKYO (AP) — Asian shares mostly declined Tuesday amid a global fall in technology shares, including Japan's SoftBank, which has reported hefty losses caused by the market downturn. Such worries are coming on top of concerns about inflation and what central banks might do to curb...

Asian stocks mixed after US job gain paves way for rate hike

Aug. 08, 2022 00:06 AM EDT

BEIJING (AP) — Asian stocks were mixed on Monday after strong U.S. jobs data cleared the way for more interest rate hikes and China reported its exports rose by double digits. Shanghai and Tokyo advanced while Hong Kong and Seoul retreated. Oil prices edged higher. ...

Wall Street falls as jobs data suggests Fed hikes not over

Aug. 05, 2022 16:50 PM EDT

NEW YORK (AP) — Stock indexes closed mostly lower Friday after a roller-coaster day following a blockbuster report on the U.S. jobs market that offered both good and bad news for Wall Street. The benchmark S&P 500 ended just 0.2% lower after recovering from an early slide as...

'What recession?': US employers add 528,000 jobs in July

Aug. 05, 2022 16:26 PM EDT

WASHINGTON (AP) — U.S. employers added an astonishing 528,000 jobs last month despite flashing warning signs of an economic downturn, easing fears of a recession and handing President Joe Biden some good news heading into the midterm elections. Unemployment dropped another notch,...

How major US stock indexes fared Friday 8/05/2022

Aug. 05, 2022 16:26 PM EDT

Stocks are closing mostly lower Friday after new data on the hot U.S. jobs market suggested the Fed won’t soon rein in its aggressive rate hikes. The S&P 500 and the Nasdaq fell, while the Dow Jones industrials notched a small gain. Employers unexpectedly...

EXPLAINER: How do we know when a recession has begun?

Aug. 05, 2022 14:54 PM EDT

WASHINGTON (AP) — Whether the U.S. economy is heading for a recession got more difficult to answer Friday, when a report showed employers hired hundreds of thousands more workers last month than expected. The stunning strength made clear that a linchpin of the economy remains...

5 key takeaways from the July jobs report

Aug. 05, 2022 13:39 PM EDT

NEW YORK (AP) — July's jobs report was a stunner, in more ways than one. Despite raging inflation and anxiety about a possible recession, employers created 528,000 jobs last month, more than double market expectations. That's the fastest pace of hiring since February. While the...

Asian stock markets rise ahead of US jobs data

Aug. 04, 2022 23:50 PM EDT

BEIJING (AP) — Asian stock markets rose Friday ahead of an update on the health of the U.S. jobs market while the Federal Reserve weighs whether more rate hikes are needed to cool surging inflation. U.S. futures and oil prices edged higher. Investors were looking...