Stock market today: Most of Wall Street leaps in a widespread rally, from big stocks to small

NEW YORK (AP) — A widespread rally swept Wall Street Friday, lifting far-reaching corners, to close a tumultuous week where stocks that had been left behind for much of this year’s record-setting run wrested the spotlight back from the market’s biggest stars. The S&P 500...

Harris will carry Biden's economic record into the election. She hopes to turn it into an asset

WASHINGTON (AP) — A key question is looming for Vice President Kamala Harris as she edges closer to gaining the Democratic presidential nomination: Can she turn the Biden-Harris economic record into a political advantage in a way that President Joe Biden failed to do? In some ways,...

Fed's preferred inflation gauge cools, adding to likelihood of a September rate cut

WASHINGTON (AP) — The Federal Reserve's favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates in September. Prices rose just 0.1% from May to June, the...

Fed's preferred inflation gauge cools further, adding to likelihood of a September rate cut

Stock market today: Asian shares mostly advance after Wall St comeback from worst loss since 2022

BANGKOK (AP) — Shares were mostly higher in Asia on Friday, with major markets apart from Shanghai and Taiwan logging modest gains. U.S. futures and oil prices rose. That followed a split Thursday on Wall Street, where general stocks and other formerly downtrodden...

Automakers hit 'significant storm,' as buyers reject lofty prices at time of huge capital outlays

DETROIT (AP) — Investors are punishing automakers' stocks this week after second-quarter earnings reports exposed industrywide issues of slowing sales and high prices, just as the companies are having to spend huge sums to make new electric and gas vehicles. Each auto company has...

Average rate on a 30-year mortgage inches up to 6.78%, first uptick in three weeks

LOS ANGELES (AP) — Mortgage rates inched higher this week, keeping the average rate on a 30-year mortgage essentially flat and near the 7% range it's been in most of this year. The rate rose to 6.78% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the...

US economic growth increased last quarter to a healthy 2.8% annual rate

WASHINGTON (AP) — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. Thursday’s report from the Commerce Department said the gross domestic...

Small stocks are about to take over? Wall Street has heard that before.

NEW YORK (AP) — Suddenly, smaller stocks seem to be making bigger noise on Wall Street. After getting trounced by their larger rivals for years, some of the smallest stocks on Wall Street have shown much more life recently. Hopes for coming cuts to interest rates have pushed...

Fewer Americans file for jobless claims as applications remain at elevated, but not troubling levels

Fewer Americans filed for unemployment benefits last week, but applications remained at recently elevated, though not troubling levels. Jobless claims for the week ending July 20 fell by 10,000 to 235,000 from 245,000 the previous week, the Labor Department reported Thursday. It’s...