Wall Street traders betting the Federal Reserve will be able to engineer a soft landing spurred a rally in riskier corners of the market, with stocks hitting all-time highs. The S&P 500 climbed 1.7% — notching its 39th record in 2024 and extending this year’s surge to about 20%. Tech led gains, while defensive industries … Read more
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for a 0.3% increase. June … Read more
Asian equities rose on Friday after signs of resilience in the labor market lifted US stocks. Equities in Japan, South Korea and Australia climbed alongside Hong Kong share futures. Gains for Tokyo’s Topix index further eroded the steep declines earlier in the week, helped along by Friday moves in tech and bank stocks. US equity … Read more
An employment sign is seen on the window of a department store on August 02, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images Initial claims for unemployment insurance totaled less than expected last week, countering other signs that the labor market is weakening. First-time filings for jobless benefits … Read more
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty Images The labor market continued to show surprising resiliency in the early days of 2024, with initial jobless claims posting an unexpected drop last week. Initial filings for unemployment insurance totaled 187,000 for the week ended Jan. 13, the … Read more
