Stock market today: Wall Street extends its rally and closes at highest level since March 2022

A broad rally on Wall Street closed out a fifth straight week of gains for the market Friday, driving the S&P 500 to its highest level in more than a year. The benchmark index rose 0.6%, eclipsing its previous high for the year set in July. The Dow Jones Industrial Average closed...

Fed's Powell notes inflation is easing but downplays discussion of interest rate cuts

WASHINGTON (AP) — Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said Friday. Speaking at Spelman College in Atlanta, Powell noted that consumer prices, excluding volatile...

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...

Federal Reserve's preferred inflation gauge shows price pressures continuing to cool

WASHINGTON (AP) — The Federal Reserve's preferred inflation measure cooled last month, the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth. Thursday’s report from the Commerce Department said prices were unchanged...

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...

An inflation gauge closely tracked by the Federal Reserve shows price pressures continue to cool

Inflation falls to 2.4% in November in the 20 countries using the euro currency, offering some relief to Europeans

Stock market today: Asian shares mostly higher ahead of US price update, OPEC+ meeting

BANGKOK (AP) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna. Benchmarks rose in Hong Kong, Tokyo and Shanghai. They fell in Seoul and Bangkok. U.S. futures rose while oil prices slipped. ...

Maine residents, who pay some of the nation's highest energy costs, to get some relief next year

PORTLAND, Maine (AP) — Electricity rates are set to drop in Maine, which historically has had some of the nation's highest energy costs. Next year's standard offer rates will drop 35% for Central Maine Power customers and 24% for Versant Power customers, the Maine Public Utilities...