2659 - Consumer sentiment rises in March
Stocks close mixed; people less anxious about inflation; pending home sales rise; initial unemployment claims fall.
Thu, 28 Mar 2024 - 01min
2658 - GDP revised up for the fourth quarter
GDP was higher in the fourth quarter than previous estimates; consumer sentiment holds steady; insurance claims from Baltimore’s bridge collapse could near $4 billion; Home Depot courts more professional builders.
Thu, 28 Mar 2024 - 01min
2657 - Transportation Secretary says rebuilding effort will not be quick
Stocks rise; Secretary Buttigieg says government is starting the process of releasing funding for Maryland; Fitch warns about bank multifamily loan exposure; Japanese yen falls.
Wed, 27 Mar 2024 - 01min
2656 - The Baltimore bridge collapse will affect some sectors more than others
Authorities have recovered the black box from the container ship that crashed into a Baltimore bridge; some automakers say they are being impacted; Trump Media shares soar in market debut; Disney adds Hulu content for Disney+ subscribers.
Wed, 27 Mar 2024 - 01min
2655 - Supply chains start to readjust after Baltimore bridge collapse
Stocks fall; supply chains scrambling to absorb capacity after Baltimore port shuts down vessel traffic; home prices fall in January; durable goods orders rise.
Tue, 26 Mar 2024 - 01min
2654 - U.S. consumer remains downcast about the short-term economic outlook
Consumer confidence was essentially unchanged in March, with consumers still worried about higher inflation in the months ahead; container ship destroys Baltimore bridge; home prices rise 6% in January; Trump Media and Technology Group debuts on Nasdaq, shares soar.
Tue, 26 Mar 2024 - 01min
2653 - Energy Department funds industrial decarbonization effort
Stocks fall; Energy Department funding targeted at industries that are hard to decarbonize; new home sales fall in February; Boeing CEO to step down.
Mon, 25 Mar 2024 - 01min
2652 - Biden administration is investing $6 billion to reduce carbon emissions in manufacturing
The Energy Department says the largest-ever such investment will target heavily-polluting industries, such as steel and cement manufacturing; Boeing CEO to step down by end of year; New home sales dip 0.3 percent in February as existing home sales soar; EU launches new investigations of Meta, Apple, Google.
Mon, 25 Mar 2024 - 01min
2651 - House passes $1.2T spending bill
Stocks close mixed; bill heads to Senate ahead of deadline; Chrysler lays off 400 workers; State Farm not renewing 72,000 California policies.
Fri, 22 Mar 2024 - 01min
2650 - House bill would require labeling of AI-generated content
The bipartisan bill would require AI tools and online platforms to identify “deepfakes”; Treasury yield curve is inverted for longest period ever, Deutsche Bank says; European Union considering tariffs on Russian grain; climate change will inflate food prices, study finds.
Fri, 22 Mar 2024 - 01min
2649 - DOJ sues Apple for monopolizing smartphone market
Stocks rise; DOJ argues Apple’s dominance is anticompetitive; existing home sales rise; Leading Economic Indicators index increases.
Thu, 21 Mar 2024 - 01min
2648 - More public service workers get student loan debt relief
The Biden administration canceled debt for nearly 80,000 borrowers; CBO projects less federal debt thanks to immigration, spending restrictions; initial unemployment claims hover around 210,000 for fourth week; existing home sales unexpectedly jump 9.5%.
Thu, 21 Mar 2024 - 01min
2647 - Fed holds interest rates steady
Stocks rise; Powell still looking for more good data before cutting rates; Powell says inflation is still coming down overall; Biden Administration grants $8.5B to Intel for semiconductor manufacturing.
Wed, 20 Mar 2024 - 01min
2646 - U.S. to provide $8.5 billion for Intel chip plants
The money will invest in chip manufacturing in Arizona, Ohio, New Mexico and Oregon; France fines Google $270 million over negotiations with news publishers; Southwest reaches third tentative labor deal with flight attendants’ union; Boeing delays cash goals as it works to fix safety problems.
Wed, 20 Mar 2024 - 01min
2645 - Housing starts jump in February
Stocks rise; single family home construction is booming; Unilever exiting ice cream business; Federal Reserve will announce latest interest rate decision on Wednesday.
Tue, 19 Mar 2024 - 01min
2644 - Congressional leaders announce government funding deal
The deal needs to be approved before a weekend shutdown deadline; European Union proposal would use profits from frozen Russian assets to help Ukraine; Wall Street bonuses averaged $177,000 last year, New York state says; Unilever to spin off ice cream business which includes Magnum, Ben & Jerry’s.
Tue, 19 Mar 2024 - 01min
2643 - Home builder confidence increases
Stocks rise; builder survey says demand for homes is up; mortgage application rates rise; credit rejection rates fall.
Mon, 18 Mar 2024 - 01min
2642 - AstraZeneca to cap out-of-pocket costs for inhalers
The cap of $35 takes effect June 1st; Super Micro Computer joins S&P 500 index; United Airlines reviewing safety after spate of incidents; Fitch says pharmacies, healthcare providers could take credit hit following UnitedHealth cyberattack.
Mon, 18 Mar 2024 - 01min
2641 - NAR agrees to change rules on agent commissions
Stocks fall; rule change will affect real estate agent commissions; import price inflation slows in February; consumer sentiment unchanged.
Fri, 15 Mar 2024 - 01min
2640 - Wall Street opens lower
Stocks have bounced around this week as traders reacted to mixed economic news; the Energy Department plans to loan more than $2 billion to a Canadian mining company; Honda and Nissan consider joining forces to develop electric vehicles; Adobe shares tumble when its predictions for second quarter earnings come in lower than expected.
Fri, 15 Mar 2024 - 01min
2639 - Energy costs push up producer price index
Stocks fall; crude oil prices have been rising this year; retail sales rise in February; mortgage rates fall.
Thu, 14 Mar 2024 - 01min
2638 - Economic data suggests the Fed may wait longer before cutting rates
The producer price index gained 0.6% in February; retail sales rose 0.6%, as well; initial jobless claims remained low at 209,000; Mnuchin says he will assemble group to purchase TikTok.
Thu, 14 Mar 2024 - 01min
2637 - Dollar Tree announces plans to close stores
Stocks close mixed; Dollar Tree closing about 1,000 Family Dollar locations; McDonalds says lower-income consumers are pulling back; mortgage applications rise.
Wed, 13 Mar 2024 - 01min
2636 - The European Union approves AI regulations
The comprehensive rules could set a benchmark for other countries; banking coalition calls on members to track emissions from capital markets activities; Dollar Tree to close nearly 1,000 Family Dollar stores.
Wed, 13 Mar 2024 - 01min
2635 - Inflation picks up in February
Stocks rise; gasoline and rent push up monthly inflation figures; small business owners more pessimistic; business owners report easier time finding workers.
Tue, 12 Mar 2024 - 01min
2634 - IRS launches free tax e-filing in 12 states
The pilot program is now available to an estimated 19 million taxpayers; inflation rose to 3.2% in February; Southwest to reduce capacity amid fewer Boeing deliveries; Tyson Foods closing Iowa pork plant amid less consumer demand.
Tue, 12 Mar 2024 - 01min
2633 - Consumer spending expectations rise in February
Stocks close mixed; people’s inflation expectations mostly unchanged; Reddit hoping to raise more than $750 million in IPO; inflation data due this week.
Mon, 11 Mar 2024 - 01min
2632 - U.S. wants stronger trade with Thailand, Philippines
Commerce Secretary Raimondo is visiting the Indo-Pacific countries; Saudi Arabia’s Aramco reports $121 billion profit in 2023; Trump says he would continue to rely on tariffs if reelected; Justice Department launches probe of Alaska Airlines Max jet accident, WSJ reports.
Mon, 11 Mar 2024 - 01min
2631 - Job growth holds steady in February
Stocks fall; unemployment rate ticks up; average pay continues to outpace inflation; Costco sales rise.
Fri, 08 Mar 2024 - 01min
2630 - Stocks open higher
The Labor Department reports the unemployment rate last month spiked up to 3.9%; New York Fed President John Williams says the “neutral interest rate”is still quite low; President Biden cites job creation and the low unemployment rate in his State of the Union speech; The Gap turns profitable.
Fri, 08 Mar 2024 - 01min
2629 - Powell says the Fed is not far from rate cuts
Stocks rise; Powell says cutting rates will help the economy avoid a recession; imports rise in January; initial unemployment claims unchanged.
Thu, 07 Mar 2024 - 01min
2628 - The State of Union speech tonight will be heavy on economic issues
President Biden will call for higher taxes on corporations and billionaires; Red Sea missile attack kills three on cargo ship; initial jobless claims remain low at 217,000; NYCB customers withdrew 7% of deposits in a month, bank reports.
Thu, 07 Mar 2024 - 01min
2627 - New York Community Bank receives more than $1B in investment
Stocks close higher; investment meant to stabilize NYCB; job openings unchanged in January; private sector adds 140,000 jobs.
Wed, 06 Mar 2024 - 01min
2626 - “Digital gatekeepers” are forced to make big changes
A handful of big tech companies must comply with new European Union rules taking effect at midnight; job openings remain elevated at 8.9 million; Powell sees inflation risk in cutting rates too soon; hackers who attacked UnitedHealth may have run away with ransom payment.
Wed, 06 Mar 2024 - 02min
2625 - Services sector continues to expand
Stocks fall; service sector employment contracts; factory orders fall; Target sales decline.
Tue, 05 Mar 2024 - 01min
2624 - Most credit card late fees to be limited to $8 or less
A Biden administration rule will impose new limits on late fees; Target reports lower sales but higher profits thanks to less discounting; Red Sea attacks continue, sinking ship; FAA says Boeing’s Max production line had multiple safety, quality failures.
Tue, 05 Mar 2024 - 01min
2623 - EU regulators fine Apple
Stocks fall; fine involves Apple’s App Store and music streaming services; Fitch downgrades New York Community Bank; JetBlue and Spirit call off proposed merger.
Mon, 04 Mar 2024 - 01min
2622 - EU fines Apple $2 billion over its streaming music practices
EU says Apple behaved in anti-competitive ways; JetBlue, Spirit call off their merger plan; some OPEC+ nations further extend oil production cuts; WTO maintains moratorium on streaming content taxes.
Mon, 04 Mar 2024 - 01min
2621 - Manufacturing sector contracts in February
Stocks rise; new orders decline in February; construction spending dips in January; consumer sentiment falls.
Fri, 01 Mar 2024 - 01min
2620 - IRS plans to crackdown on high earners who don’t file returns
IRS says crackdown will apply to incomes of $400,000 and above; New York Community Bank in turmoil as losses mount and CEO resigns; Oprah Winfrey quits WeightWatchers; Brazil proposes global tax on super rich .
Fri, 01 Mar 2024 - 01min
2619 - Inflation remains above the Fed’s target
Stocks closed higher; consumer prices not including volatile categories rose 2.8% in January and incomes rose 1%; new unemployment claims rose.
Thu, 29 Feb 2024 - 01min
2618 - Inflation is getting close to the Federal Reserve’s target rate
The Federal Reserve’s preferred inflation gauge is showing further signs of easing; the Commerce Department wants to probe connected vehicles made by Chinese companies; the Transportation Department wants to make it easier to fine airlines for damaging or misplacing wheelchairs; the FAA gives Boeing 90 days to come up with new safety plan.
Thu, 29 Feb 2024 - 01min
2617 - Economic growth revised down slightly
Stocks fall; US GDP still resilient; imports rise in January; retail inventories up from last year.
Wed, 28 Feb 2024 - 01min
2616 - New sanctions target those disrupting global shipping
United States, United Kingdom issue sanctions to block support for Yemen’s Houthi rebels; Google’s CEO says company working to fix AI tool Gemini, after biased responses; Starbucks, workers’ union agree to talks; the Justice Department launches antitrust probe of UnitedHealth, WSJ reports.
Wed, 28 Feb 2024 - 01min
2615 - Consumer confidence dips in February
Stocks close mixed; consumers surveyed show more uncertainty over labor market; durable goods orders rise; home prices up in December.
Tue, 27 Feb 2024 - 01min
2614 - A safety audit finds confusion among Boeing’s rank and file
Report by an expert panel says Boeing employees still fear retaliation for raising concerns; Treasury Secretary Yellen urges $300 billion frozen Russian assets be sent to Ukraine; Macy’s to close 150 stores; Durable goods orders plunge 6% in January.
Tue, 27 Feb 2024 - 01min
2613 - U.S. economic outlook improves
Major stock indexes head down after hitting records last week; Kroger’s takeover of Albertsons hits an antitrust obstacle; The World Trade Organization may OK taxation of streaming content.
Mon, 26 Feb 2024 - 01min
2612 - The U.S. economic outlook continues to improve
Economic growth this year now forecast at 2.2% by NABE; WTO considers streaming content tax; AT&T offering $5 to customers most affected by outage; United Airlines is latest carrier to hike checked baggage fees.
Mon, 26 Feb 2024 - 01min
2611 - Stocks close mixed
AI-tech juggernaut Nvidia’s stock hit $2 trillion in market cap in intraday trading; Biden Administration announces new sanctions against Russia; Reddit files for an IPO.
Fri, 23 Feb 2024 - 01min
2610 - Wall Street’s momentum continues
Stocks open higher, continuing yesterday’s rally; Reddit files paperwork with the Securities and Exchange Commission for initial public offering; the Biden administration issues more sanctions against Russia; AT&T says it’s restored service to all customers affected by yesterday’s outage.
Fri, 23 Feb 2024 - 01min