Wall Street’s rally stalls on hot jobs, cold earnings data

NEW YORK (AP) — Wall Street's rally is stalling Friday, as a stunningly strong report on the U.S. job market sends investments on another dizzying roller-coaster ride. Stocks opened with sharp losses and then erased them all, before falling back again. The bond market, meanwhile,...

An unexpected job surge confounds the Fed's economic models

WASHINGTON (AP) — Does the Federal Reserve have it wrong? For months, the Fed has been warily watching the U.S. economy's robust job gains out of concern that employers, desperate to hire, would keep boosting pay and, in turn, keep inflation high. But January’s blowout job...

A surprising burst of US hiring in January: 517,000 jobs

WASHINGTON (AP) — For nearly a year, the Federal Reserve has been on a mission to cool down the job market to help curb the nation's worst inflation bout in four decades. The job market hasn't been cooperating. Consider what happened in January: The government said...

US employers added a robust 517,000 jobs in January in sign of a still-strong labor market despite Fed rate hikes

Asian shares trade mixed ahead of US jobs report

TOKYO (AP) — Asian shares were trading mixed Friday ahead of a closely watched U.S. jobs report that may affect global interest rates. Weaker than expected earnings reports from U.S. technology companies, announced after Wall Street trading ended, pulled Chinese benchmarks lower. ...

Bank of England rate hike says 'too soon to declare victory'

LONDON (AP) — The Bank of England announced another “forceful” increase in interest rates Thursday, saying it was too soon to declare victory against inflation that has slowed slightly but is still fueling a cost-of-living crisis, public-sector strikes and fears of recession. ...

Average long-term mortgage rate falls a fourth straight week

The average long-term U.S. mortgage rate declined for the fourth week in a row, a sign of relative stability that could potentially open the door for some prospective homebuyers to get back in the market. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark...

European Central Bank hikes rates, vows 'we are not done'

FRANKFURT, Germany (AP) — The European Central Bank chugged ahead with another outsized interest rate hike Thursday and vowed more will follow, underlining its drive to subdue inflation even as the economy slows and the U.S. Federal Reserve eases its pace of increases. The...

US filings for jobless aid lowest since April

U.S. applications for jobless aid fell again last week to their lowest level since April, further evidence that the job market has withstood aggressive rate hikes by the Federal Reserve as it attempts to cool the economy and bring down inflation. Applications for jobless aid in the...

Targeting Iran, US tightens Iraq's dollar flow, causing pain

BAGHDAD (AP) — For months, the United States has restricted Iraq’s access to its own dollars, trying to stamp out what Iraqi officials describe as rampant money laundering that benefits Iran and Syria. Iraq is now feeling the crunch, with a drop in the value of its currency and public anger...