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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 […]
Average long-term US mortgage rate falls to 6.67%, the lowest level since early April
NEW YORK (AP) — The average rate on a 30-year U.S. mortgage fell for the fifth straight week to its lowest level since early April, an encouraging sign for potential buyers who have wrestled with rising home prices. The long-term rate fell to 6.67% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year […]
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 […]
Powell signals patience on rate cuts despite Trump pressure
Fed Chair Powell says rate cuts must wait, rebuffing Trump ahead of hearings.
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 […]
Average long-term US mortgage rate eases to 6.81%, the third consecutive weekly decline
The average rate on a 30-year U.S. mortgage eased for the third week in a row, a welcome trend for prospective homebuyers at a time when elevated borrowing costs remain a drag on the housing market. The long-term rate fell to 6.81% from 6.84% last week, mortgage buyer Freddie Mac said Wednesday. A year ago, the […]
Wall Street rises as oil prices ease and the countdown ticks to the Fed’s decision on interest rates
NEW YORK (AP) — U.S. stocks are rising on Wednesday as Wall Street waits to hear where the Federal Reserve may be taking interest rates. The S&P 500 was 0.5% higher in morning trading. The Dow Jones Industrial Average was up 244 points, or 0.6%, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 0.6% higher. […]
Wall Street drifts as Oracle rallies and Boeing sags
NEW YORK (AP) — U.S. stock indexes are drifting on Thursday following another encouraging update on inflation. The S&P 500 was 0.2% higher in midday trading and sitting less than 2% below its record. The Dow Jones Industrial Average was down 18 points, or less than 0.1%, as of 11 a.m. Eastern time, and the […]
Inflation barely rose last month as cheaper gas and cars offset some costlier imports
U.S. inflation edged up to 2.4% in May, with groceries rising but gas and rent costs falling. Trump’s tariffs haven’t hit prices hard—yet.
