The numbers: Initial jobless claims rose 7,000 to 218,000, in the week ending Nov. 25, the Labor Department said Thursday. Economists polled by The Wall Street Journal had estimated new claims would rise 11,000 to 220,000. Last week, claims rose a… Read More »Jobless claims tick higher in latest week, reaching highest level in 2 years
KEY POINTS Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday. The personal… Read More »Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
(Bloomberg) — Federal Reserve Governor Michelle Bowman said she expects to support additional tightening of monetary policy to return inflation to the central bank’s goal. “My baseline economic outlook continues to expect that we will need to increase the federal… Read More »Fed’s Bowman Favors Hiking Rates If Inflation Progress Stalls
WASHINGTON (AP) — Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. The government… Read More »US economic growth for last quarter is revised up to a 5.2% annual rate
The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists. The team led by Chris Montagu said futures flows last week were… Read More »Sharp US Stock Rally Is Running Out of Steam, Citi Strategists Say
KEY POINTS Holiday shopping this year is expected to reach record spending levels, according to the National Retail Federation. But as consumers open their wallets, they may also be making themselves vulnerable to potential fraud, particularly when shopping at the last minute. “Procrastination… Read More »You may be at risk for fraud this holiday season, particularly if you shop at the last minute. Here’s why
OpenAI’s leadership crisis demonstrated the indirect influence wielded by tech giants in the generative AI startup ecosystem. Microsoft’s CEO Satya Nadella helped broker an overhaul of the board to preserve Sam Altman as CEO, resulting in former Salesforce co-CEO and… Read More »Generative AI mega-deals by tech giants compel VCs to react
Wall Street is gearing up for rate cuts. Twenty months after the Federal Reserve began a historic campaign against inflation, investors now believe there is a much greater chance that the central bank will cut rates in just four months… Read More »Investors See Interest-Rate Cuts Coming Soon, Recession or Not
(CNN) — Whether they jostled through brick-and-mortar stores or toggled between tabs and virtual carts, holiday shoppers were eager to participate in Black Friday this year. Both in-store and online retail sales increased year-over-year unadjusted for inflation, according to Mastercard’s SpendingPulse insights, which… Read More »Energized shoppers break one-day holiday sales record
Stocks and bonds have surged in November. With record investor balances in money-market funds, some analysts are optimistic that they have more room to run. Everything from technology stocks to junk-rated company debt has been rising after an encouraging inflation… Read More »Investors Are Hungry for Risk—and Holding Record Cash Sums