Stock market today: Dow sets a record as Wall Street drifts to the finish of another winning week

NEW YORK (AP) — U.S. stocks closed another record-setting week with a muted performance Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession. The S&P 500 edged down by 0.1% from its...

How major US stock indexes fared Friday, 9/27/2024

The Dow Jones Industrial Average edged up to another record high while declines in tech stocks pulled other indexes lower. The Dow added 0.3% Friday. The S&P 500 slipped 0.1%, a day after setting an all-time high for the 42nd time this year. The Nasdaq composite gave back 0.4%. ...

Fed's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts

WASHINGTON (AP) — The Federal Reserve's preferred inflation measure on Friday provided the latest sign that price pressures are easing, a trend that is expected to fuel further Fed interest rate cuts this year and next. Prices rose just 0.1% from July to August, the Commerce...

Federal Reserve's favored inflation gauge shows cooling price pressures, clearing way for more rate cuts

Trump favors huge new tariffs. What are they, and how do they work?

WASHINGTON (AP) — Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. The former president and current Republican nominee asserts that tariffs — basically import taxes — will...

Richmond Fed president urges caution on interest rate cuts because inflation isn't defeated

WASHINGTON (AP) — The president of the Federal Reserve's Richmond branch says he supports reducing the central bank's key interest rate “somewhat” from its current level but isn't yet ready for the Fed to fully take its foot off the economy's brakes. In an interview Thursday...

Argentina's poverty rate spikes in first 6 months of President Milei's shock therapy

BUENOS AIRES, Argentina (AP) — Argentina's poverty rate jumped from almost 42% to 53% during the first six months of Javier Milei' s presidency, the statistics agency reported Thursday, a steep rise reflecting the pain of the country's most intense austerity program in recent memory. ...

Diners are skipping restaurants and making more meals at home as inflation trend inverts

NEW YORK (AP) — Eating in is in and eating out is out. That's the message that inflation-squeezed consumer s have been sending to fast-food companies and other restaurants. Meanwhile food producers are benefitting from more palatable prices in grocery store aisles. ...

US economy grew at a solid 3% rate last quarter, government says in final estimate

WASHINGTON (AP) — The American economy expanded at a healthy 3% annual pace from April through June, boosted by strong consumer spending and business investment, the government said Thursday, leaving its previous estimate unchanged. The Commerce Department reported that the...

The price of gold keeps climbing to unprecedented heights. Here's why

NEW YORK (AP) — The rush for gold just keeps coming. Gold hit another all time high this week. Recent gains for the precious metal are largely credited to ongoing economic uncertainty, geopolitical tensions and strong demand from central banks around the world. If...