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Bringing inflation down is going to take time, patience — and pain
Products are seen in a supermarket, in Los Angeles, California, May 27, 2022. Lucy Nicholson | Reuters Tackling runaway inflation won’t be easy and it won’t be quick, and it may carry a steep price tag that is just beginning to be paid. To stop 40-year highs in price increases, the economy will have to […]
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Stock futures are flat on Wednesday evening
Traders work on the floor of the New York Stock Exchange during morning trading on June 08, 2022 in New York City. Michael M. Santiago | Getty Images Stock futures were flat in overnight trading Wednesday after the major averages ended the regular session lower and U.S. Treasury yields rose. Futures on the Dow Jones […]
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Fed GDP tracker shows the economy could be on the brink of a recession
Federal Reserve Chairman Jerome Powell testifies during the House Financial Services Committee hearing titled Monetary Policy and the State of the Economy, in Rayburn Building on Wednesday, March 2, 2022. Tom Williams | CQ-roll Call, Inc. | Getty Images A widely followed Federal Reserve gauge is indicating that the U.S. economy could be headed for […]
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Stocks making the biggest moves midday: Target, Kohl’s, Peloton and more
FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, U.S., November 26, 2021. Brendan Mcdermid | Reuters Check out the companies making headlines in midday trading. Target — Shares of the retailer fell more than 4% after the company said it will take a short-term hit to profits as […]
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Ukraine retakes parts of Severodonetsk amid brutal street fighting; Zelenskyy mourns ‘dead cities’. Follow our live updates
Zelenskyy mourns Ukraine’s ‘dead cities’ Ukrainian President Volodymyr Zelenskyy decried what he called Ukraine’s “dead cities,” once centers of life now almost entirely destroyed by Russian bombardment. He was referring to Severodonetsk and Lysychansk, crucial remaining holdouts in the country’s east that Russian forces have almost entirely captured and that are key in Moscow’s aims […]
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Stock futures are little changed on Monday
Traders on the floor of the NYSE, June 3, 2022. Source: NYSE Stock futures were little changed Monday evening after a sleepy day of trading as investors await key inflation data due out later in the week. Futures tied to the Dow Jones Industrial Average inched higher by 0.01%. S&P 500 futures and Nasdaq 100 […]
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Stocks making the biggest moves midday: Sunrun, Eli Lilly, DiDi Global, CrowdStrike and more
Tim McKibben, left, a senior installer for the solar company, Sunrun, and installer Aaron Newsom install solar panels on the roof of a home in Granada Hills. Mel Melcon | Los Angeles Times | Getty Images Check out the companies making headlines in midday trading Monday. Solar companies — Solar stocks jumped after the Biden […]
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UK to send long-range missiles to Ukraine despite Putin warning; Zelenskyy visits hard-hit Donbas
Heavy fighting is continuing around Severodonetsk in eastern Ukraine, UK says Smoke and dirt rise in the city of Severodonetsk during fighting between Ukrainian and Russian troops in the eastern Ukrainian region of Donbas on June 2, 2022. Aris Messinis | AFP | Getty Images Heavy fighting is continuing around the contested town of Severodonetsk […]
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Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed
Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with supporting a series of aggressive interest rate increases. “I think the Fed has shown that we’re in the process of recalibrating our policy to get inflation back down to our 2% […]
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Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had […]
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