Tag Archives: Economy

US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic

US hiring stalls with employers reluctant to expand in an economy grown increasingly erratic

WASHINGTON (AP) — The American job market, a pillar of U.S. economic strength since the pandemic, is crumbling under the weight of President Donald Trump’s erratic economic policies. Uncertain about where things are headed, companies are reluctant to hire, leaving agonized jobseekers unable to find work and worrying the consumers (70% of U.S. economic activity) whose spending has driven impressive growth for the world’s biggest economy since the COVID-19 disruptions of 2020. The Labor Department reported Friday that U.S. employers — companies, government agencies and nonprofits — added just 22,000 jobs last month, down from a 79,000 in July and well below the 80,000 that economists had expected. The unemployment rate ticked up to 4.3% last month, the highest since 2021.… Continue Reading

US stocks rally to records on hopes for cuts to interest rates

US stocks rally to records on hopes for cuts to interest rates

NEW YORK (AP) — The U.S. stock market rallied to records after data suggested inflation across the country was a touch better last month than economists expected. The S&P 500 rose 1.1% Tuesday and topped its all-time high set two weeks ago. The Dow Jones Industrial Average climbed 483 points, and the Nasdaq composite jumped 1.4% to set its own record. Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September. Lower rates can give the economy and investment prices a boost.… Continue Reading

US inflation held steady last month as tariff hit offset by cheaper gas, food

US inflation held steady last month as tariff hit offset by cheaper gas, food

WASHINGTON (AP) — U.S. inflation was unchanged in July as rising prices for some imported goods were balanced by falling gas and grocery prices, leaving overall prices modestly higher than a year ago. The figures suggest that slowing rent increases and cheaper gas are offsetting some impacts of President Donald Trump’s sweeping tariffs. Many businesses are also absorbing much of the cost of the duties. Tuesday’s figures likely include some impact from the 10% universal tariff Trump imposed in April, as well as higher duties on countries such as China and Canada.… Continue Reading

Walden: N.C. economy still strong despite national slowdown

Walden: N.C. economy still strong despite national slowdown

RALEIGH, N.C. (WPTF) — While the national economy shows signs of slowing, North Carolina remains in good shape, according to N.C. State University Economist Emeritus Dr. Mike Walden. Walden, the guest on this week’s Carolina Newsmakers, said tracking the effectiveness of tariffs is challenging and most economists did not expect the U.S. to be in its current position. He noted that President Donald Trump’s administration has taken a new approach to trade policy.… Continue Reading

Wall Street clocks another winning week

Wall Street clocks another winning week

Stocks rose on Wall Street, marking their third winning week in the last four. The S&P 500 rose 0.8% Friday, leaving the index just shy of the record it set last week. The Dow Jones Industrial Average climbed 0.5%, and the Nasdaq composite added 1% to the record it set a day earlier. Expedia and Gilead Sciences rose sharply after reporting results that easily beat analysts’ forecasts. Both companies also raised their outlooks. Asian markets closed mostly lower except in Tokyo, where the Nikkei rose 1.9%. European markets were mixed. Treasury yields rose in the bond market.… Continue Reading

US stocks set more records as Verizon begins a big week for profit reports with a beat

US stocks set more records as Verizon begins a big week for profit reports with a beat

NEW YORK (AP) — U.S. stocks are rising toward more records ahead of a week full of profit updates from big U.S. companies. The S&P 500 rose 0.6% Monday and was above its all-time high set on Thursday. The Dow Jones Industrial Average climbed 217 points, and the Nasdaq composite added 0.7% to its own record. Verizon Communications helped lead the way following its better-than-expected profit report. Other market heavyweights slated to report their results for the spring this week include Alphabet, Coca-Cola and Tesla. Stock indexes were mixed in Europe but rose in much of Asia, while Treasury yields eased in the bond market.… Continue Reading

Americans increased spending tepidly last month as anxiety over the economy takes hold

Americans increased spending tepidly last month as anxiety over the economy takes hold

WASHINGTON (AP) — U.S. shoppers stepped up their spending just a bit in February after a sharp pullback the previous month, signaling that Americans are shopping more cautiously as concerns about the direction of the economy mount. Retail sales rose just 0.2% in February, a small rebound after a sharp drop of 1.2% in January, the Commerce Department said Monday. Sales rose at grocery stores, home and garden stores, and online retailers. Sales fell at auto dealers, restaurants, and electronics stores. The small increase suggests Americans may be growing more wary about spending as the stock market has plunged and President Donald Trump’s tariff threats and government spending cuts have led to widespread uncertainty among consumers and businesses.… Continue Reading

Recent News

Powered By SoCast