Latest Economy News
Stock market today: Most of Wall Street slips following mixed data on the economy
NEW YORK (AP) — Most stocks slipped on Wall Street Tuesday, but the market hung near its best level in 20 months following mixed reports that kept alive questions about whether the U.S. economy can pull off a perfect landing where it snuffs out high inflation but avoids a recession. ...
How major US stock indexes fared Tuesday, 12/5/2023
Most stocks slipped on Wall Street, but the market hung near its highest level in 20 months following a mixed set of reports on the economy. The S&P 500 fell 0.1% Tuesday, the Dow fell 0.2%, and the Nasdaq composite rose 0.3%. KeyCorp led a slump for bank stocks...
Moody's cuts China credit outlook to negative, cites slowing economic growth, property crisis
HONG KONG (AP) — Credit rating agency Moody’s cut its outlook for Chinese sovereign bonds to negative on Tuesday, citing risks from a slowing economy and a crisis in its property sector. Moody’s said the downgrade, its first for China since 2017, reflects risks from financing...
Economists predict US inflation will keep cooling and the economy can avoid a recession
NEW YORK (AP) — Most business economists think the U.S. economy could avoid a recession next year, even if the job market ends up weakening under the weight of high interest rates, according to a survey released Monday. Only 24% of economists surveyed by the National Association...
Stock market today: Asian shares slip after Wall Street ends its best month of '23 with big gains
HONG KONG (AP) — Asian shares declined on Friday even after Wall Street closed out its best month of the year with big gains in November. U.S. futures rose while oil prices continued to drop despite the latest extension of OPEC’s production cuts. Even with continued cuts to...
Some OPEC+ members will cut the oil that they send to the world to try to boost prices
LONDON (AP) — The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. Lower oil prices...
Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled
LONDON (AP) — Europeans again saw some relief as inflation dropped more than expected to 2.4% in November, the lowest in over two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy's ability to grow. Inflation for the...
China factory activity contracts in November for 2nd straight month despite stimulus measures
HONG KONG (AP) — An official survey of Chinese manufacturers shows that factory activity contracted for a second straight month in November, an indicator of weak demand despite various stimulus measures aimed at supporting the economy. The official manufacturing purchasing...
Argentina's libertarian president-elect picks a former Central Bank chief as his economy minister
BUENOS AIRES, Argentina (AP) — Argentina’s president-elect, Javier Milei, announced Wednesday he has chosen Luis Caputo, a former finance minister and Central Bank chief known as an expert in markets, to lead the Economy Ministry when the right-wing leader takes office on Dec. 10. ...
Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds
COLOMBO, Sri Lanka (AP) — Sri Lanka said Wednesday that it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring, a crucial move toward unlocking a second instalment of a $2.9 billion bailout package from the International Monetary Fund. ...
