US Economy Archives - Page 2 of 4

Stock market today: Wall Street rolls higher as bitcoin bursts above $87,000

NEW YORK (AP) — U.S. stocks are rising and adding to the gains made during their best week of the year. The S&P 500 added 0.2% in Monday morning trading, coming off last week’s spurt spurred by Donald Trump’s presidential victory and the Federal Reserve’s cut to interest rates. The Dow Jones Industrial Average jumped 400 points, and the Nasdaq composite slipped 0.1%. Elon Musk’s Tesla was the strongest single force pushing the S&P 500 higher. Bank stocks and other popular Trump trades also led the market, helping to offset drops for Nvidia and AbbVie. Bitcoin’s price topped $86,000 for the first time.… Continue Reading

Young Black and Latino men say they chose Trump because of the economy and jobs. Here’s how and why

WASHINGTON (AP) — Black and Latino voters moved toward Republican Donald Trump in this year’s presidential election, and some of the biggest shifts were among men under age 45, and that helped expand his margin over Democrat Kamala Harris. That’s according to AP VoteCast, a nationwide survey of more than 120,000 voters. The vice president’s losses with these groups largely became Trump’s gains as he locked down his traditionally older, white base and slightly expanded into a winning coalition. A combination of the economy and jobs was pinpointed as the issue voters felt was the most important problem the country faced. That was the case, too, for Black and Hispanic voters.… Continue Reading

Stock market today: Wall Street cruises to more records as it closes its best week in a year

NEW YORK (AP) — U.S. stocks cruised to more records as they closed their best week in a year. The S&P 500 rose 0.4% Friday to cap its biggest weekly gain since early November 2023. It also briefly crossed above the 6,000 level for the first time. The Dow Jones Industrial Average climbed 0.6%, while the Nasdaq composite added 0.1%. The relatively quiet trading followed huge gains earlier in the week after Donald Trump won the presidential election and the Federal Reserve cut interest rates again to make things easier for the economy. Long-term Treasury yields eased in the bond market.… Continue Reading

Stock market today: Most of Wall Street rises after the Fed cuts interest rates

NEW YORK (AP) — Most U.S. stocks rose as the Federal Reserve cut interest rates again to make things easier for the economy. The S&P 500 climbed 0.7% Thursday. The Dow Jones Industrial Average was virtually unchanged, and the Nasdaq composite gained 1.5%. The rate cut was widely expected. What’s less certain going forward is how much Donald Trump’s presidential victory may change things for the Fed. Chair Jerome Powell said it’s too early to know what it will mean for the Fed’s policies. Treasury yields remained lower following the Fed’s announcement. Bank stocks and smaller companies also lagged the market as other Trump trades lost momentum.… Continue Reading

Stocks and bitcoin jump after Trump’s victory. So do worries about inflation as Dow surges 1,500

LONDON (AP) — The price of bitcoin has hit a new high as investors bet that former President Donald Trump’s victory in the U.S. presidential election will be a boon for cryptocurrencies. Bitcoin jumped nearly 8% in early trading, climbing above $75,000 and smashing the previous record set in March. Other cryptocurrencies like ether also soared. So did shares of crypto-related companies like Coinbase. Trump has has pledged to make America “the crypto capital of the planet” and create a strategic reserve of bitcoin. Ahead of the election, he also launched a new venture to trade cryptocurrencies called World Liberty Financial.… Continue Reading

Stock market today: Nasdaq edges back from its record as chip companies and Eli Lilly slump

NEW YORK (AP) — U.S. stock indexes edged lower after drops for Eli Lilly and chip companies overshadowed a jump for Google’s parent company. The S&P 500 slipped 0.3% Wednesday. The Dow Jones Industrial Average fell 0.2%, and the Nasdaq composite lost 0.6% from its record set the day before. Eli Lilly sank on concerns about two of its blockbuster drugs, while chip stocks struggled after Advanced Micro Devices gave a forecast for upcoming revenue that investors found disappointing. Treasury yields rose in the bond market following the latest reports on a U.S. economy that’s remaining more resilient than feared.… Continue Reading

Stock market today: Rising tech stocks send Nasdaq to a record as most of Wall Street stumbles

NEW YORK (AP) — Rising technology stocks sent the Nasdaq composite to a record, but trading was mixed along the rest of Wall Street. The S&P 500 rose 0.2% Tuesday, even though the majority of stocks in the index fell. Gains for Microsoft, Meta Platforms and other influential Big Tech stocks helped mask weakness elsewhere, and they pushed the Nasdaq up 0.8% to top its record set in July. The Dow Jones Industrial Average, meanwhile, fell 0.4%. Homebuilders and Ford Motor dropped to some of the market’s sharpest losses following the latest profit reports. Treasury yields eased in the bond market.… Continue Reading

Stock market today: Wall Street slumps to a rare 3-day losing streak

NEW YORK (AP) — U.S. stocks closed lower as more steam came out of Wall Street’s huge, record-breaking rally. The S&P 500 fell 0.9% Wednesday. It was the third loss in a row for the benchmark index, the first time that’s happened in six weeks. The Dow Jones Industrial Average dropped 1%. The Nasdaq composite sank 1.6% as Nvidia and other Big Tech stocks were among the market’s heaviest weights. Momentum has reversed for stocks since the S&P 500 set a record on Friday as pressure has increased from rising Treasury yields in the bond market. Yields rose again Wednesday.… Continue Reading

Stock market today: Wall Street barely budges as GM’s best day in years offsets GE Aerospace tumble

NEW YORK (AP) — U.S. stock indexes barely budged after a quiet day of mixed trading. The S&P 500 edged down by less than 0.1% Tuesday. The Dow Jones Industrial Average slipped 6 points, or less than 0.1%, and the Nasdaq composite rose 0.2%. The best day for General Motors stock since 2020 helped to offset a sharp drop for GE Aerospace, which was the heaviest weight on the S&P 500 after its revenue for the latest quarter fell short of forecasts. Stocks have slowed their record-breaking momentum this week under increasing pressure from rising Treasury yields in the bond market.… Continue Reading

Stock market today: Wall Street sets more records and closes a 6th straight winning week

NEW YORK (AP) — U.S. stocks rose to records to close out their latest winning week. The S&P 500 climbed 0.4% Friday to squeak past the all-time high it had set early this week. The Dow Jones Industrial Average added 0.1% to its own record set the day before, and the Nasdaq composite gained 0.6%. Netflix helped drive the market after the streaming giant reported stronger profit for the latest quarter than analysts expected. It marked a sixth straight winning week for the S&P 500, its longest such streak of the year. Treasury yields eased a bit in the bond market.… Continue Reading