Breaking News: Economy
Trump, Harris inflation arguments are questionable, Chicago Fed president says
Austan Goolsbee speaking at Jackson Hole on Aug. 8, 2023. David A. Grogan | CNBC Chicago Federal Reserve President Austan Goolsbee on Sunday warned against misrepresenting the inflationary impacts of corporate price hikes and tariffs, which have become focal points of the Trump and Harris campaigns’ economic platforms. Goolsbee steered away from directly speaking on […]
Read More
Blinken to arrive in Israel as U.S. pushes for Gaza ceasefire
U.S. Secretary of State Antony Blinken talks onboard the plane during his visit to Israel as he departs en route to Jordan, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Tel Aviv, Israel November 3, 2023. Jonathan Ernst | Reuters U.S. Secretary of State Antony Blinken is set to arrive […]
Read More
Stocks making the biggest moves midday: Rocket Lab, Bavarian Nordic, H&R Block and more
Check out the companies making headlines in midday trading: Rocket Lab — The space company soared more than 16%, hitting a 52-week high, after packing and shipping two Mars-bound spacecraft to Cape Canaveral, Florida, for launch. The two spacecraft were designed, built, integrated and tested by Rocket Lab for the University of California Berkeley’s Space […]
Read More
Stocks making the biggest moves premarket: H&R Block, Applied Materials, Microchip, JD.com and more
Check out the companies making headlines before the bell. Estee Lauder — The beauty company slipped nearly 2% after Bank of America downgraded the stock, citing headwinds in its China market. Softening U.S. demand is also weighing upon shares, the firm added. Applied Materials — The semiconductor equipment company’s shares dipped 1.8% despite posting better-than-expected […]
Read More
Harris economic plan features new tax cuts, housing incentives and price caps
U.S. Vice President Kamala Harris delivers remarks on Medicare drug price negotiations, at an event with U.S. President Joe Biden in Prince George’s County, Maryland, U.S., August 15, 2024. Elizabeth Frantz | Reuters Vice President Kamala Harris on Friday will unveil a new set of economic proposals that she would prioritize in her first 100 […]
Read More
Here’s the deflation breakdown for July 2024 — in one chart
Key Points The inflation rate has throttled back significantly from its pandemic-era highs. Some areas of the U.S. economy have experienced deflation. Their prices have declined. They include prices for physical goods like cars and trucks, clothing, furniture, as well as other categories like airline fares and some food items. Source
Read More
Consumer spending jumped in July as retail sales were up 1%, much better than expected
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday. Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for a 0.3% increase. June […]
Read More
‘I see a lot of denial’: C-suite advisor says business bosses still expect a Trump win
Republican presidential nominee, former U.S. President Donald Trump gives a speech during a campaign rally at Harrah’s Cherokee Center in Asheville, North Carolina, United States on August 14, 2024. Anadolu | Anadolu | Getty Images U.S. business leaders are “in denial” about Vice President Kamala Harris’ growing lead over Republican presidential nominee Donald Trump, according to C-suite […]
Read More
Alaska Airlines flight attendants reject new contract, union says there’s ‘more work to do’
An Alaska Airlines Boeing 737-900ER aircraft on the tarmac at Seattle-Tacoma International Airport (SEA) in Seattle, Washington, US, on Monday, Jan. 22, 2024. David Ryder | Bloomberg | Getty Images Alaska Airlines flight attendants rejected a new labor deal that would have come with immediate raises averaging more than 24%, their union said Wednesday, setting […]
Read More
Stocks making the biggest moves after hours: Cisco, Ulta, Nike and more
Check out the companies making headlines in after-hours trading. Cisco Systems — The stock jumped 6% after the networking company reported an earnings and revenue beat for its fiscal fourth quarter, and also issued an optimistic forecast. Cisco posted adjusted earnings of 87 cents per share on revenue of $13.64 billion, while analysts polled by […]
Read More