Some warn that the Federal Reserve’s efforts to slow inflation could potentially return the US economy to the unusual situation it found itself in during the 1970s and early 1980s: stagflation. The big picture: Despite high inflation, the US economy is doing well – with an unemployment rate of 3.6% in April – close to … Read more
NEW YORK (AP) — Bears rumble toward Wall Street. The stock market’s slippage this year has brought the S&P 500 closer to what is known as a bear market. Rising interest rates, high inflation, war in Ukraine and a slowing Chinese economy have caused investors to reconsider the prices they are willing to pay for … Read more
NEW YORK (AP) — The Dow Jones Industrial Average fell more than 1,100 points and the S&P 500 suffered its biggest drop in nearly two years on Wednesday, as big shortfalls from Target and other big Retailers stoked investor fears that soaring inflation could cut deep into corporate profits. The selloff erased gains from a … Read more
Gasoline prices hit a new high as the national average hit $4.48 a gallon today. Prices jumped 15 cents in the past week, 40 cents in the past month and $1.43 in a year, according to the AAA. Meanwhile, some states — like California — are reporting a price spike of up to $5.98 this … Read more
It’s rare to see Elon Musk and Jeff Bezos agree on things. The former is the richest man in the world with an estimated fortune of $213 billion as of May 16, according to Bloomberg Billionaire Index. The second is the second richest man on the planet. His fortune is estimated at $135 billion. Musk … Read more
By YURI KAGEYAMA, AP Business Writer TOKYO (AP) — Asian stocks traded mixed on Monday as investors watched soaring energy costs and prospects for U.S. interest rate hikes. Benchmarks rose slightly in Japan and Australia, while they fell in South Korea and China. Some analysts worry that if the US Federal Reserve raises interest rates … Read more
Sensex and Nifty 50 fell almost 4% last week (May 9 to May 13). Although the last two trading sessions were slightly red and tilted almost towards a flatter stick, the tone still remained bearish. On Friday, Sensex closed at 52,793.62 down 136.69 points or 0.26%. Heavyweights SBI, ICICI Bank, Axis Bank, Bharti Airtel, Maruti … Read more
Our increasingly ugly inflation problem is a perfect illustration of the Biden administration’s uncanny ability to do everything wrong everywhere at once. The Biden administration’s first response to any problem is to pretend it’s not a problem. This is how inflation went from a minor problem to a major problem. Unwilling to take the necessary … Read more
After falling for six straight days, U.S. financial markets rebounded on Friday, with all major stock indices posting gains, and the Nasdaq enjoying its biggest percentage rise – 3.8% – since November 2020. Assets also rose sharply and the appearance of green on trading screens brought much-needed relief to investors. However, all of this must … Read more
A customer at a grocery store in San Francisco on May 2, 2022. David Paul Morris | Bloomberg | Getty Images Inflation is a growing concern as Americans spend hundreds more every month. But some retirees can avoid the sting of rising prices for gas, groceries and other costs. Annual inflation rose 8.3% in April, … Read more