Breaking News: Economy
Here’s how tariffs on Canada, China and Mexico may impact U.S. consumers
Key Points President Donald Trump is imposing a 25% tariff on Canada and Mexico and a 10% tariff on China starting on Saturday, the White House said. Tariffs will likely result in higher prices for U.S. consumers, both directly and indirectly, economists say. Tariffs are a tax on foreign imports that are paid by the […]
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Trump tariffs on Canada, Mexico and China begin Saturday, White House says
U.S. President Donald Trump signs executive orders in the Oval Office at the White House in Washington, U.S., Jan. 30, 2025. Elizabeth Frantz | Reuters In an apparent ending to weeks of intense speculation, the White House confirmed Friday that President Donald Trump will be leveling aggressive tariffs this weekend on major U.S. trading partners. […]
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Stocks making the biggest moves midday: Colgate-Palmolive, Atlassian, Deckers, Vertex and more
Check out the companies making headlines in midday trading: Colgate-Palmolive — Shares slipped 4% after the household products company reported fourth-quarter revenue that missed analysts’ expectations and forecast weak 2025 sales given negative effects from foreign exchange rates. KLA Corporation — The stock climbed 2% after the semiconductor company posted a top- and bottom-line beat […]
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Key Fed measure shows core inflation at 2.8%, in line with expectations
Customers shop for food at a grocery store on Jan. 15, 2025 in Chicago, Illinois. Scott Olson | Getty Images News | Getty Images Inflation closed out 2024 on a strong note, as a price gauge the Federal Reserve focuses on came in well above the central bank’s target. The personal consumption expenditures price index […]
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GDP grew at a 2.3% pace in the fourth quarter, less than expected
U.S. economic growth slowed a bit more than expected in the final three months of 2024, the Commerce Department reported Thursday. Gross domestic product, a measure of all the goods and services produced across the sprawling U.S. economy during the period, showed that the economy accelerated at a 2.3% annualized pace in the fourth quarter. […]
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Tesla’s CFO says tariffs would ‘have an impact’ on company’s profitability
U.S. President-elect Donald Trump and Elon Musk watch the launch of the sixth test flight of the SpaceX Starship rocket in Brownsville, Texas, on Nov. 19, 2024. Brandon Bell | Via Reuters President Donald Trump campaigned on a promise to slap tariffs on goods from many top trading partners. Elon Musk’s electric vehicle company may […]
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Stocks making the biggest moves after hours: Meta Platforms, Microsoft, Tesla and more
Check out the companies making headlines in after-hours trading: International Business Machines — The tech company’s shares surged 9%, driven by strong fourth-quarter results. IBM reported adjusted earnings of $3.92 per share on revenue of $17.55 billion. Analysts polled by LSEG sought earnings of $3.75 per share and $17.54 billion in revenue. CEO Arvind Krishna […]
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Fed meeting recap: Powell says central bank is in no hurry to cut rates again
Range of possibilities is ‘very, very wide’ for tariff effects There is a wide range of possibilities when it comes to the potential effects of tariffs, according to Fed Chair Powell. “The range of possibilities is very, very wide,” he said. “We don’t know for how long or how much, what countries. We don’t know […]
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Fed holds rates steady, takes less confident view on inflation
Key Points The Federal Reserve left unchanged its overnight borrowing rate in a range between 4.25%-4.5%. The decision followed three straight cuts since September 2024. The post-meeting statement offered a somewhat more optimistic view on the labor market while dropping a key reference from the December statement that inflation “has made progress toward” the Fed’s […]
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Stocks making the biggest moves premarket: ASML, Alibaba, Nvidia, T-Mobile, Qorvo and more
Check out the companies making headlines before the bell. F5 – Shares soared nearly 14% on the heels of the application security company’s fiscal second-quarter outlook beating Wall Street’s expectations. F5 expects revenue to come in between $705 million and $725 million, while analysts polled by FactSet had penciled in $702.7 million. Nextracker – The […]
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