Story developing. Check back for updates. Boston Federal Reserve President Susan Collins said the U.S. central bank might not be done raising interest rates and that they are likely to stay “higher, and for longer, than previous projections had suggested.” While there are promising signs inflation continues to slow, Collins said Friday in a speech…
TOKYO — Japan’s overall consumer prices rose 3.2% from a year earlier in August, staying above the Bank of Japan’s inflation target for 2%, government data showed Friday. The figure compares with the 3.3% increase in July. Consumer inflation excluding volatile fresh food and energy increased 4.3% from a year earlier, matching July’s pace of…
Consumer confidence in the U.K. improved in September to the most optimistic level in more than a year and a half, a signal of improving prospects for the country’s economy and that pressures on household spending could be easing, according to a survey published Friday. Confidence among British consumers rose four points to minus 21…
Exchange-traded funds that invest in long-term Treasury bonds are dropping Thursday, as yields continued their march higher in the wake of the Federal Reserve’s meeting on monetary policy. Shares of the Vanguard Long-Term Treasury ETF VGLT were down a sharp 2% on Thursday afternoon, while the iShares 20+ Year Treasury Bond ETF TLT sank 2.2%,…
KB Home shares declined in the extended session Wednesday even after the home builder reported results that topped Wall Street estimates, hiked its revenue forecast for the year and reported steady demand amid rising mortgage rates. KB Home KBH shares slid more than 2% after hours, following a 0.7% decline in the regular session to…
The Federal Reserve’s interest-rate hikes are kicking in by slowing growth and cooling inflation, but also making a recession more of a threat, says Rob Waldner, Invesco’s chief fixed-income strategist and head of macro research. “We are increasingly worried about a recessionary environment,” Waldner told MarketWatch late Wednesday, despite what Fed officials said earlier in…
Inflation in the U.K. surprisingly eased in August against expectations it would accelerate, a welcome showing for central bankers just a day ahead of an interest-rate decision. The U.K. consumer price index fell a touch to 6.7% year-over-year in August from 6.8%, the Office for National Statistics said Wednesday. CPI was expected by economists…
Music legend Jimmy Buffett was beloved for his tunes about beachside escapism, but his real estate ventures made him a true mogul. According to Forbes, Buffett’s music and businesses cemented his billionaire status at the time of his passing. Buffett died Sept. 1, 2023, and he left behind quite a legacy. He had a knack…
The rate of U.S. inflation has slowed considerably from a 40-year peak of 9.1% in mid-2022 and it’s gotten an assist from a surprising source: falling medical costs. But that’s about to end — to a large degree because of the complex way the federal government tries to figure the rise of medical costs. And…
Elsa Ortega and her husband, David, are expecting a child at the end of October, and the couple closed on a home in El Paso, Texas, this summer. But when they thought about selling their three-bedroom single-family home for a larger three-bedroom house, they initially were hesitant. The listing went up on a Thursday. “I…
U.S. stocks ended down Friday as investors worried about inflationary pressures ahead of the Federal Reserve’s meeting next week as well as an auto workers strike. How stock indexes traded The Dow Jones Industrial Average DJIA shed 288.87 points, or 0.8%, to close at 34,618.24. The S&P 500 SPX fell 54.78 points, or 1.2%, to…
China’s industrial production and consumption improved in August, while investment continued to lose momentum despite Beijing’s increased efforts to stimulate growth. Industrial production expanded 4.5% from a year earlier in August, up from the 3.7% increase in July, the National Bureau of Statistics said Friday. The result beat the 4.1% growth expected by economists in…
President Joe Biden on Thursday delivered what the White House billed as a “major economic address on Bidenomics vs. MAGAnomics,” with the speech coming as polls show most Americans disapprove of his handling of the U.S. economy. “You hear from our friends on the other side, the MAGA Republicans, what’s wrong with America,” Biden said in…
“‘While high prices continue to hit family budgets, hardworking Georgians deserve real relief and that’s why I signed an executive order today to deliver it directly to them at the pump.’” — Georgia Governor Brian Kemp That’s Gov. Brian Kemp declaring a “state of emergency” Tuesday for the Peach State and announcing a one-month halt…
Major U.S. stock benchmarks remained down for the month on Wednesday, after a choppy trading session ended with mixed results as investors weighed the latest inflation report. “The Federal Reserve may have gained some traction against inflation, but the inflation problem is far from finished,” said First Trust economists in a note Wednesday. “The worst…
Oil futures traded higher early Tuesday, leaving the front-month contract within striking distance of its highest settlement level since November as investors awaited more U.S. inflation data and a European central bank decision on interest rates this week. Price action The front-month October West Texas intermediate contract CL.1, +1.26% CLV23, +1.26% rose 80 cents, or…
Stock investors are showing some hesitancy for Tuesday, with big signals on the economy coming this week via consumer prices and retail sales. Ahead of that, Apple is expected to tempt consumers with yet another new iPhone on Tuesday. How much should investors be worrying right now? Our call of the day from Pershing Square…
SYDNEY — Australian consumer confidence is in the worst sustained slump on record, according to a weekly survey by the ANZ Bank and pollster Roy Morgan. Consumer confidence fell 1.1 points over the week, completing six consecutive months below 80 points, something never before seen in the data. The weaker outcome comes despite the Reserve…
U.S. stock indexes remained higher in Monday’s final hour of trading, boosted by producers of luxury items and services including Tesla, as investors await inflation and retail sales data later this week to help guide the Federal Reserve’s interest-rate policy. How stock indexes are trading The Dow Jones Industrial Average DJIA advanced 83 points, or 0.2%…
Bond yields rose Monday after the Bank of Japan hinted of an end to negative interest rates and traders eyed crucial U.S. data later in the week. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y added 1.3 basis points to 4.986%. Yields move in the opposite direction to prices. The yield on the 10-year…
Consumer spending has defied Wall Street expectations all year, both by keeping stocks afloat near record levels and by preventing the U.S. economy from running aground into a recession. That’s why sentiment around stocks in the week ahead could hinge on two related economic data points: the consumer-price index (CPI) for August due on Wednesday…