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US home sales fall in June as prices soar to new heights
LOS ANGELES (AP) — Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and national median sales prices hit unprecedented levels. Existing home sales fell 2.7% last month from May to a seasonally adjusted annual rate of 3.93 million units, the National Association of Realtors […]
Wall Street Holds Near Records on Mixed Earnings
NEW YORK (AP) — Wall Street is hanging near its records on Tuesday following some mixed profit reports, as General Motors and other big U.S. companies give updates on how much President Donald Trump‘s tariffs are hurting or helping them. The S&P 500 was shaving 0.1% off its all-time high set the day before. The Dow Jones Industrial Average was up […]
Wall Street hangs near its record as doubts continue about Trump’s proposed tariffs
NEW YORK (AP) — U.S. stock indexes hung near their records on Monday following President Donald Trump‘s latest updates to his tariffs, as speculation continues on Wall Street that he may ultimately back down on them. The S&P 500 edged up by 0.1% to pull within 0.2% of its all-time high set on Thursday. The […]
Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners
BRIDGEWATER, N.J. (AP) — President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trade partners. Trump detailed the planned tariffs in letters posted to his social media account. They are part of […]
U.S. warns of tariff hikes as Trump deadline nears
Trump’s tariff pause ends Wednesday, with U.S. warning trade partners that higher tariffs could take effect Aug. 1 unless new deals emerge.
The US labor market continues to surprise and the unemployment rate, against the odds, is falling
U.S. employers added 147,000 jobs in June as the American labor market continues to show surprising resilience despite uncertainty over President Donald Trump‘s economic policies. The unemployment rate ticked down to 4.1% from 4.2% in May, the Labor Department said Thursday. Hiring rose modestly from a revised 144,000 in May and beat economists expectations of fewer […]
Analysis shows Trump’s tariffs would cost US employers $82.3 billion
WASHINGTON (AP) — An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump‘s current tariff plans, a sum that could potentially be managed through price hikes, layoffs, hiring freezes or lower profit margins. The analysis by the JPMorganChase Institute is among the first to measure […]
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 […]
Americans’ take on the economy sours in June and, after a brief respite, continues to slide
WASHINGTON (AP) — Americans’ view of the U.S. economy worsened in June, resuming a downward slide that had dragged consumer confidence to its lowest level since the COVID-19 pandemic five years ago. The Conference Board said Tuesday that its consumer confidence index slid to 93 in June, down 5.4 points from 98.4 last month, which […]
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 […]
