Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida. Giorgio Viera | Afp | Getty Images A strike hitting ports along the East and Gulf coasts could stoke prices for food, autos and a host of other consumer goods but is expected … Read more
A shopping street in Steglitz district, Berlin, Germany. Getty Images LONDON — European stocks kicked off October trading in positive territory after ending September on a somber note. The pan-European Stoxx 600 was slightly higher, up 0.07%, by 8:30 a.m. London time. Sectors and major bourses diverged, with tech stocks adding 0.9%, while household goods … Read more
Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller. The central bank chief asserted during a speech in Nashville, Tennessee, that he and his colleagues will … Read more
Skyline of Tokyo, Japan. Jackyenjoyphotography | Moment | Getty Images Japan’s Nikkei 225 tumbled over 4% on Monday, following a mixed set of economic data out of Japan and as traders reacted to the election of incoming Prime Minister Shigeru Ishiba. Japan’s August retail sales climbed 2.8% year on year, beating Reuters poll estimates of a 2.3% … Read more
The S & P 500 index dipped Friday but logged its third straight weekly gain on the back of three record closes last week. For the week, the S & P 500 rose just over 0.6%; the Dow Jones Industrial Average , which closed at another record Friday, gained almost 0.6%; the Nasdaq advanced nearly … Read more
Democratic presidential candidate Vice President Kamala Harris and her husband, Doug Emhoff, stop at a Sheetz gas station in Coraopolis, Pennsylvania, on Aug. 18, 2024. Angela Weiss | AFP | Getty Images As she unveiled her most detailed economic plan yet this week, Democratic presidential nominee Kamala Harris pledged to fight price gouging in order … Read more
The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China’s economic growth. Fotoholica Press | Lightrocket | Getty Images China’s yuan briefly rose to its strongest level in over a year on Wednesday after Beijing unveiled a slate of stimulus measures … Read more
US Federal Reserve Governor Michelle Bowman attends a “Fed Listens” event at the Federal Reserve headquarters in Washington, DC, on October 4, 2019. Eric Baradat | AFP | Getty Images Federal Reserve Governor Michelle Bowman said Tuesday she thought her colleagues should have taken a more measured approach to last week’s half percentage point interest … Read more
Minneapolis Federal Reserve President Neel Kashkari said Monday that he expects policymakers to dial down the pace of interest rate cuts after last week’s half percentage point reduction. “I think after 50 basis points, we’re still in a net tight position,” Kashkari said in a CNBC “Squawk Box” interview. “So I was comfortable taking a … Read more
U.S. Treasury yields climbed higher Thursday as investors digested the Federal Reserve’s decision to cut interest rates by 50 basis points on Wednesday. At 3:56 p.m. ET, the yield on the 10-year Treasury was up nearly 4 basis points at 3.726%. The 2-year Treasury yield was around one basis point lower at 3.594%. Yields and … Read more
