Oil prices held steady on Friday but remained on course for a fourth successive weekly decline as signs of weak growth in global fuel demand outweighed fears of supply disruption in the Middle East. Brent crude futures LCOc1 were up 18 cents, or 0.2 per cent, at $79.70 a barrel by 1040 GMT. U.S. West … Read more
Federal Reserve Chairman Jerome Powell arrives to speak at a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. Andrew Harnik | Getty Images If the Federal Reserve is starting to set the table for interest rate reductions, … Read more
Customer shopping for school supplies with employee restocking shelves, Target store, Queens, New York. Lindsey Nicholson | UCG | Universal Images Group | Getty Images Now, as the central bank sets the stage to lower interest rates for the first time in years when it meets again in September, consumers may see their borrowing costs … Read more
U.S. orange production has plummeted as the industry faces volatile threats from extreme weather events, an incurable disease and economic pressures. Citrus growers are losing millions of dollars every year, according to the United States Department of Agriculture. At the same time, orange juice futures have hit record highs. “Citrus production in the United States … Read more
People shopping at the downtown market, Cour Lafayette, in Toulon, on July 27, 2024. Magali Cohen / Hans Lucas | Afp | Getty Images Headline inflation in the euro zone unexpectedly rose to 2.6% in July, the European Union’s statistics agency said Wednesday. In June, inflation had come in at 2.5%, easing slightly from the … Read more
US Federal Reserve Chair Jerome Powell testifies before the Senate Banking, Housing, and Urban Affairs Hearings to examine the Semiannual Monetary Policy Report to Congress at Capitol Hill in Washington, DC, on July 9, 2024. Chris Kleponis | AFP | Getty Images This week’s Federal Reserve meeting is not much about the present but potentially … Read more
Traders work on the floor of the New York Stock Exchange during afternoon trading on Jan. 22, 2024. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more
Asian stocks opened lower amid speculation investors are trimming some of their holdings before a rush of events in coming days including major central bank decisions, key economic data and earnings from US megacap companies. Equities slipped in Japan and Australia in early trading, while futures signaled a decline in Hong Kong. US stock futures … Read more
Washington: All of the sudden it’s Kamala Harris ‘ economy – a major opportunity as well as a possible risk for the likely Democratic presidential nominee. Shortly after President Joe Biden left the race a week ago, Harris began to craft her own narrative around the economy by putting an emphasis on ending child poverty, … Read more
People shop at a grocery store in Brooklyn on July 11, 2024 in New York City. Spencer Platt | Getty Images An important gauge for the Federal Reserve showed inflation eased slightly from a year ago in June, helping to open the way for a widely anticipated September interest rate cut. The personal consumption expenditures … Read more
