Powell says Fed will likely cut rates cautiously given persistent inflation pressures

WASHINGTON (AP) — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed's officials want to see where it heads next. ...

Stock market today: Wall Street weakens as its post-election boom slows some more

NEW YORK (AP) — U.S. stocks slipped Thursday as the market’s big burst following Donald Trump’s election continued to cool. The S&P 500 fell 0.6%, though it’s still near its all-time high set on Monday. The Dow Jones Industrial Average dropped 207 points, or 0.5%, and...

Powell says Fed will likely cut rates cautiously given persistent inflation pressures

The number of Americans filing for jobless claims falls to lowest level in 6 months

The number of Americans applying for unemployment benefits fell to the lowest level in six months last week as layoffs remain at relatively healthy levels. The Labor Department reported Thursday that jobless claim applications fell by 4,000 to 217,000 for the week of Nov. 9. That’s...

US wholesale inflation picks up slightly in sign that some price pressures remain elevated

WASHINGTON (AP) — Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday's report from the Labor Department showed that its producer price index — which tracks...

Top Federal Reserve official defends central bank's independence in wake of Trump win

WASHINGTON (AP) — A Federal Reserve official gave a lengthy defense of the central bank's political independence Thursday, just days after former President Donald Trump, an outspoken Fed critic, won re-election. “It has been widely recognized — and is a finding of economic...

Stock market today: Wall Street drifts to a mixed finish after an inflation update

NEW YORK (AP) — U.S. stocks drifted to a mixed finish Wednesday after the latest inflation update boosted hopes that more help for the economy will arrive next month through a cut to interest rates. The S&P 500 was nearly unchanged and edged up by less than 0.1%, coming off...

US inflation rose slightly last month after 2 years of steady cooling but remained low

WASHINGTON (AP) — Inflation in the United States ticked up in October, driven by costlier rents, used cars and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021. Consumer prices rose 2.6% from a year...

Stock market today: Wall Street drifts lower as the Trump trade cools

NEW YORK (AP) — U.S. stocks drifted lower Tuesday as momentum cooled for the torrid “Trump trade” that swept Wall Street following Donald Trump’s presidential victory. The S&P 500 slipped 0.3% a day after setting its latest all-time high. The Dow Jones Industrial Average...

Stock market today: Wall Street rolls higher as bitcoin bursts above $87,000

NEW YORK (AP) — U.S. stocks rose Monday, led by those seen as benefiting the most from Donald Trump’s reelection as president, but drops for some high-profile Big Tech stocks kept indexes in check. The S&P 500 edged up by 0.1%, coming off its best week of the year following...