Stocks closed lower as Wall Street waited for a highly anticipated report on inflation that’s arriving the following day.
Business Highlights: A summary of the day’s top stories in the business world.
Stocks that traded heavily or had substantial price changes on Tuesday: Eli Lilly, Fox rise; Beyond Meat, RingCentral fall
Disney reports its fiscal third-quarter financial results on Wednesday. The Labor Department reports on consumer prices for July on Thursday and its monthly snapshot of prices at the wholesale level on Friday.
Asian stocks are mixed after Wall Street rallied and Japanese wages rose ahead of a U.S. inflation update that might influence Federal Reserve plans for more possible interest rate hikes.
Global prices for food commodities like rice and vegetable oil have risen for the first time in months after Russia ended a deal allowing Ukraine ship grain and India restricted some rice exports.
Egypt’s Central Bank announced a new hike in interest rates as the cash-strapped North African country battles surging inflation and a depreciating currency.
Stocks fell to close out a rare losing week for Wall Street following mixed reports on the U.S. job market and two of the market’s most influential stocks.
The average long-term U.S. mortgage rate rose again this week, bad news for Americans seeking to upgrade or buy their first home.
The Bank of England has raised its main interest rate to a fresh 15-year high as it tries to bring down persistently high inflation.
Asian stocks markets are mixed after Wall Street sank for a third day following an interest rate hike in Britain. Shanghai and Hong Kong advanced. Tokyo retreated.
The Biden administration is delaying plans to restock the nation’s emergency oil reserve amid a price hike that has pushed oil above $80 a barrel.
Jeffrey Schmid, a former banking executive, has been appointed the next president of the Federal Reserve Bank of Kansas City, beginning Aug. 21.
Asian stock markets have followed Wall Street lower after Fitch Ratings cut the United States government’s credit rating. Tokyo’s market benchmark fell almost 1.5%.
Egypt and other lower-income Middle Eastern countries like Lebanon and Pakistan are worried about what comes next after Russia pulled out of a crucial wartime grain deal.
Australia’s central bank has left its benchmark interest rate on hold at 4.1% for a second consecutive month raising expectations that rates might have reached their peak or are close to plateauing in the current cycle.
For more than a year, the U.S. economy has defied predictions of a forthcoming recession. It has withstood 10 interest rate hikes in 16 months from an inflation-fighting Federal Reserve.
Europe’s economy is growing again — but not by much. Growth came in at 0.3% in the April-to-June quarter, following zero expansion in the three months immediately before.
Asian shares are mostly rising in morning trading, boosted by market optimism set off by a Wall Street rally despite lingering worries about regional growth.
A survey shows Chinese factory activity contracted in July as export orders shrank. That adds to pressure on the ruling Communist Party to reverse an economic slowdown.
Business Highlights: A summary of the day’s top stories in the business world.
Wall Street got back to climbing following more encouraging profit reports and the latest signal that inflation is loosening its chokehold on the economy.
Ben Bernanke, the former chairman of the U.S. Federal Reserve, will lead a review of the Bank of England’s economic forecasting amid concern that inaccurate predictions about growth and inflation hampered the central bank’s efforts to combat Britain’s cost-of-living crisis.
Procter & Gamble Co., the maker of such household products like Crest toothpaste, Tide detergent and Charmin toilet paper, reported better-than-expected fiscal fourth-quarter results that showed consumers’ appetite for its items even as it continued to push up prices.
Signs that inflation pressures in the United States are steadily easing emerged Friday in reports that consumer prices rose in June at their slowest pace in more than two years and that wage growth cooled last quarter.
President Joe Biden used his trip to a textile plant in Maine on Friday to boast about cooling inflation and to make a crack at Republicans who have floated an impeachment inquiry into him.
Wall Street got back to climbing following more encouraging profit reports and the latest signal that inflation is loosening its chokehold on the economy.
Japan’s central bank has opted to keep its benchmark interest rate at minus 0.1% but has fine-tuned its bond purchases to allow greater flexibility in its policies.
Avangrid’s CEO says construction is resuming on an electric transmission project to serve as a conduit for Canadian hydropower to reach the New England power grid despite a big cost increase.
The average long-term U.S. mortgage rate ticked back up this week, remaining a barrier for Americans trying upgrade or buy their first home.