BANGKOK (AP) — China’s exports jumped 25% in August from a year earlier on strong demand for autos and high-tech goods as its record trade sur…
TEHRAN, Iran (AP) — Iran early Tuesday introduced a higher price for its heaviest users of gasoline, state media reported, in the latest econo…
Global shares are mixed, with benchmarks in Tokyo and Seoul leading gains thanks to buying of computer chipmakers. Benchmarks fell in early Monday trading in Germany and Britain, while being little changed in France. Brent crude oil inched closer to $100 a barrel as the U.S. military denied Iran had struck an uncrewed American military vessel in the Strait of Hormuz, which remains effectively closed. U.S. stock markets will be closed Monday for the Labor Day holiday. In Asia, shares finished higher in Japan and South Korea. They rose moderately in Australia and Shanghai, while falling in Hong Kong.
NEW YORK (AP) — Wall Street will get several important updates about inflation this week.
President Donald Trump has been promising an economic boom, but Friday's positive jobs report left him frustrated. He vented about inflation and interest rates, blaming financial markets, the Federal Reserve, and trade partners. Trump dismissed the idea that job gains could lead to inflation, saying, "Success does not cause inflation. Stupidity causes inflation." His inability to deliver stronger growth has hurt his credibility. Trump blames high interest rates and tariffs for economic challenges. Despite this, his aides remain optimistic about AI, tariffs, and tax cuts boosting growth. However, experts warn that growth alone won't fix budget deficits.
Stocks fell on Wall Street and Treasury yields rose after a surprisingly strong report on the job market appeared to increase chances that the U.S. central bank could raise interest rates later this month. The S&P 500 lost 0.4% Friday. The Dow Jones Industrial Average fell 0.5%, and the Nasdaq composite gave back 0.3%. The government reported that U.S. employers added 162,000 jobs to their payrolls last month, far more than expected. That could give the Federal Reserve leeway to raise its benchmark short-term interest rate to fight inflation. The yield on the 2-year Treasury climbed to 4.37%.
The U.S. job market rebounded in August as employers added a surprising 162,000 jobs. The unemployment stayed at 4.1%. Revisions added 55,000 jobs to June and July payrolls. The jobs report, issued by the Labor Department Friday, could be good news for President Donald Trump two months before midterm elections in which the health of the economy is weighing on voters’ minds. Hiring far exceeded the 65,000 forecasters had expected. Labor Department revisions also looked good, adding 55,000 to June and July payrolls. Employers created 21,000 jobs in July; the Labor Department had originally reported that they’d cut 23,000.
Stocks rose on Wall Street as bond yields eased further and a rally in big technology companies helped the market recoup its losses from earlier in the week. The S&P 500 rose 1.1% Thursday, with technology stocks powering much of the gains. The Dow climbed 1.2%, and the Nasdaq composite rose 1.4%. Nvidia rose 1.8% after the giant chip company said it would buy the artificial intelligence platform Hugging Face for $13 billion. Oil prices, which rose sharply earlier this week, closed little changed. Treasury yields fell in the bond market.
WASHINGTON (AP) — Federal Reserve governor Christopher Waller said Thursday that an inflation report next week will largely determine whether …
Mortgage rates rose again this week, driving the average long-term U.S. home loan rate to its highest level in more than a year.