US Economy Archives - Page 3 of 4

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

Stock market today: Wall Street drifts around its records following latest encouraging economic data

NEW YORK (AP) — U.S. stocks drifted around their record heights following the latest signals that the U.S. economy continues to hum. The S&P 500 finished Thursday virtually unchanged after flirting with its all-time high for much of the day. The Dow Jones Industrial Average added 161 points, or 0.4%, to its own record set the day before, while the Nasdaq composite was close to flat. Gains for chip stocks and Travelers following strong profit reports helped to offset losses for Alphabet and Elevance Health. Treasury yields rose in the bond market after reports showed U.S. shoppers spent more at retailers and fewer workers applied for unemployment.… Continue Reading

Stock market today: Wall Street rises as tech stocks and oil prices steady themselves

NEW YORK (AP) — U.S. stocks rose following better-than-expected profit reports from Morgan Stanley, United Airlines and other big companies. The S&P 500 climbed 0.5% Wednesday, a day after sliding from its all-time high because of tumbling energy and technology stocks. The Dow Jones Industrial Average added 0.8% to set its own record, and the Nasdaq composite rose 0.3%. Exxon Mobil and other energy producers stabilized a day after tumbling with the price of crude oil. Stocks in the chip industry also held up better a day after a market-shaking warning from Dutch supplier ASML. Treasury yields eased in the bond market.… Continue Reading

Stock market today: Wall Street falls from its records as oil prices tumble and tech stocks drop

NEW YORK (AP) — U.S. stocks are edging back from their records as the price of crude oil tumbles again. The S&P 500 slipped 0.3% in midday trading Thursday, a day after setting an all-time high for the 46th time this year. The Dow Jones Industrial Average was down 77 points, and the Nasdaq composite fell 0.8%. Exxon Mobil and other energy stocks sank to some of the market’s worst losses as oil prices dropped again. Chip stocks fell after supplier ASML warned of a slower recovery outside of the AI boom. Treasury yields eased as trading for U.S. bonds resumed following a holiday.… Continue Reading

Walgreens to close 1,200 US stores as chain attempts to steady operations at home

Walgreens plans to close about 1,200 locations over the next three years as the drugstore chain seeks to turnaround its struggling U.S. business. The company said Tuesday that about 500 store closures will happen in its current fiscal year and should immediately help adjusted earnings and free cash flow. Walgreens leaders said in late June that they were finalizing a turnaround plan for its U.S. business, and that push could result in the closing of hundreds of underperforming stores. The company has been struggling for years with tight reimbursement for the prescriptions it sells as well as other challenges.… Continue Reading

Stock market today: Wall Street edges back from its records

NEW YORK (AP) — U.S. stocks edged back from their record highs. The S&P 500 slipped 0.2% Thursday, and the Dow Jones Industrial Average fell 0.1% after likewise setting an all-time high the day before. The Nasdaq composite edged down by 0.1%. In the bond market, Treasury yields swung after a pair of disappointing reports showed inflation failed to improve as much as expected last month and more workers filed for unemployment benefits last week. They left investors questioning how much the Federal Reserve will cut interest rates by at its next meeting. Crude oil prices rose to regain their losses from early in the week.… Continue Reading

Stock market today: Wall Street sets more records after Shanghai’s worst drop since early COVID

NEW YORK (AP) — U.S. stocks rose to records after the latest wild swerves for Chinese stocks left few ripples in markets worldwide. The S&P 500 climbed 0.7% Wednesday to top the all-time high it set last week. The Dow Jones Industrial Average rallied 431 points to hit its own record, and the Nasdaq composite gained 0.6%. The relatively calm movements on Wall Street followed another manic day in China. Stocks in Shanghai tumbled to their worst loss since February 2020 amid disappointment that the government is not offering more stimulus for the world’s second-largest economy. Oil prices eased, and Treasury yields rose.… Continue Reading

US adds a robust 254,000 jobs and unemployment dips to 4.1% in sign of still-sturdy labor market

WASHINGTON (AP) — America’s employers added a surprisingly strong 254,000 jobs in September, easing concerns about a weakening labor market and suggesting that the pace of hiring is still solid enough to support a growing economy. Last month’s gain was far more than economists had expected, and it was up sharply from the 159,000 jobs that were added in August. And after rising for most of 2024, the unemployment rate dropped for a second straight month, from 4.2% in August to 4.1% in September. The latest figures suggest that many companies are still confident enough to fill jobs despite the continued pressure of high interest rates. Few employers are laying off workers, though many have grown more cautious about hiring.… Continue Reading

Dockworkers go on a strike that could reignite inflation and cause shortages in the holiday season

PHILADELPHIA (AP) — Dockworkers at ports from Maine to Texas have started walking picket lines in a strike over wages and automation that could reignite inflation and cause shortages of goods if it goes on more than a few weeks. The contract between the ports and about 45,000 members of the International Longshoremen’s Association expired at midnight, and even though progress was reported in talks on Monday, the workers went on strike early Tuesday. The strike is affecting 36 ports. The U.S. Maritime Alliance represents the ports and said Monday evening that both sides had moved off of their previous wage offers, but when picket lines went up it was apparent there was no deal.… Continue Reading

Fed Chair Powell says the US economy is in ‘solid shape’ with more rate cuts coming

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy. At their last meeting, Fed officials penciled in two more quarter-point rate cuts to be made at the central bank’s final meetings this year. In remarks Monday before the National Association for Business Economics in Nashville, Tennessee, Powell said the economy and hiring are largely healthy. He emphasized that the Fed is recalibrating its key interest rate, which is now at about 4.8%.… Continue Reading