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Most US stocks fall, but Nvidia keeps Wall Street near records
NEW YORK (AP) — Most U.S. stocks are falling on Tuesday after an update on inflation hurt Wall Street’s hopes for lower interest rates. But indexes are staying close to their records thanks to Nvidia, the market’s most influential stock. The S&P 500 was down 0.1% in midday trading and just a bit below its all-time high, […]
Under fire by Trump over costs, Chair Powell seeks watchdog review of Fed building overhaul
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has asked an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.” A spokesperson for the inspector general, an independent watchdog, confirmed the request and declined further comment. The request was previously reported by CNBC. The Fed has [&h[...]
White House budget director accuses Fed chair of violating building rules in renovation
WASHINGTON (AP) — White House budget director Russell Vought suggested in a Thursday letter that Federal Reserve Chair Jerome Powell is in violation of government building rules in the renovation of the Fed’s headquarters. Vought, in a letter he shared on social media, called the initial renovation plans featuring rooftop terrace gardens, VIP dining […]
US stocks tick higher and yields leap as Wall Street sees little chance for a July rate cut (UPDATED)
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. NEW YORK (AP) — U.S. stocks are climbing further into record heights on Thursday after a report showed the U.S. job market looks stronger than Wall Street expected. The S&P 500 was up 0.8% in midday trading and on track to set an all-time high for the fourth […]
Stocks drift as Wall Street awaits key jobs report
NEW YORK (AP) — U.S. stocks are drifting on Wednesday, as Wall Street’s record-breaking rally slows ahead of a highly anticipated report coming Thursday about the U.S. economy. The S&P 500 was edging up by 0.1% in morning trading, coming off its first loss after hitting all-time highs in back-to-back days. The Dow Jones Industrial Average was […]
Wall Street drifts as Tesla drops and yields rise following economic updates
NEW YORK (AP) — U.S. stocks are drifting on Tuesday as Wall Street’s momentum slows after setting record highs in each of the last two days. The S&P 500 was 0.1% lower in morning trading and potentially on track for its first loss in four days. The Dow Jones Industrial Average was up by 153 points, or […]
US job openings in May hit 7.8 million in a continuing display of labor market resilience
WASHINGTON (AP) — U.S. job openings rose unexpectedly in May, a sign that the American labor market remains resilien t in the face of high borrowing costs and uncertainty over U.S. economic policy. U.S. employers posted 7.8 million vacancies in May, the Labor Department reported Tuesday, up from 7.4 million in April. Economists had expected a slight […]
Trump ramps up attacks on the Federal Reserve but Powell sticks to ‘wait and see’ stance
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday stuck to his position that the central bank will keep its key rate on hold while it waits to see how President Donald Trump‘s tariffs effect the economy, despite the steady stream of criticism from the White House, which wants lower borrowing costs. Powell, speaking in Sintra, Portugal, at a conference […]
US stocks leap within a decent day of their all-time high as oil prices tumble
NEW YORK (AP) — U.S. stocks are leaping nearly to their all-time high Tuesday after oil prices eased further on hopes that Israel’s war with Iran will not damage the global flow of crude. The S&P 500 was 1.2% higher in late trading, following up on big gains for stocks across Europe and Asia, after […]
Powell signals patience on rate cuts despite Trump pressure
Fed Chair Powell says rate cuts must wait, rebuffing Trump ahead of hearings.
Federal Reserve’s Bowman says rate cut should be on table in July
WASHINGTON (AP) — Federal Reserve governor Michelle Bowman on Monday said the central bank should consider cutting its key interest rate as soon as its next meeting in July, underscoring deep divisions among Fed officials as they endure sharp criticism from the White House. Bowman said that President Donald Trump‘s tariffs have so far not caused the jump in inflation that […]
Borrowers looking for lower costs will have to wait as the Fed is unlikely to cut rates
WASHINGTON (AP) — The inflation-fighters at the Federal Reserve are expected to keep their key interest rate unchanged Wednesday for the fourth straight time. That’s likely to shift attention to how many interest rate cuts they forecast for this year. It’s widely expected that the 19 Fed officials that participate in the central bank’s interest-rate decisions […]
