NEW YORK (AP) — A strong week for Wall Street closed out with modest gains Friday, sending the stock market to its highest level since early December.
The S&P 500 rose 0.2% to clinch its third winning week in the last four and was near its highest level since the summer, before fading at the end of the day.
WASHINGTON (AP) — For all the sound and fury about raising the nation's debt limit, most economists say federal borrowing is not at a crisis point ...
WASHINGTON (AP) — The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy.
TOKYO (AP) — Asian shares advanced Friday, tracking a rally on Wall Street following reports suggesting the economy and corporate profits may be doing better than feared.
In Tokyo, data showed the core consumer price index was up 4.3%, slightly higher than expected at 4.2%, and higher than the Bank of Japan’s target of 2%.
WASHINGTON (AP) — The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession.
PRETORIA, South Africa (AP) — U.S. Treasury Secretary Janet Yellen watched Ford cars and pickup trucks being assembled at a plant in South Africa on Thursday, citing it as an example of cooperation between Washington and Africa as she begins the Biden administration's big push to reengage with a continent that has 1.3 billion people and an abundance of economic potential.
WASHINGTON (AP) — The second consecutive quarter of economic growth that the government reported Thursday underscored that the nation isn't in a recession despite high inflation and the Federal Reserve's fastest pace of interest rate hikes in four decades.
UNITED NATIONS (AP) — The United Nations forecast Wednesday that global economic growth will fall significantly to 1.9% this year as a result of the food and energy crisis sparked by the war in Ukraine, the impact of the COVID-19 pandemic, persistently high inflation and the climate emergency.
BEIJING (AP) — Asian stock markets were mixed Thursday amid hopes Western economies can avoid a recession despite higher interest rates to cool inflation.
FRANKFURT, Germany (AP) — The German government on Wednesday said it expects to eke out economic growth this year instead of a decline as Europe's largest economy manages its energy divorce from Russia and shells out support for consumers and businesses hit by higher energy costs.
NEW DELHI (AP) — India’s Adani Group vehemently objected Wednesday to allegations by short-selling firm Hindenburg Research that caused shares in its companies to plunge by as much as 8.1%.
Hindenburg issued a report late Tuesday saying it was betting against shares in companies within the Adani empire, founded by Asia’s richest man, coal magnate Gautam Adani.
NEW DELHI (AP) — India and Egypt agreed Wednesday to boost trade between their countries during a visit by the Egyptian president that underscores Prime Minister Narendra Modi’s efforts to fortify ties with other emerging economies.
ABUJA, Nigeria (AP) — Nigerian President Muhammadu Buhari has marked the opening of a $1.5 billion, Chinese-funded deep seaport in the commercial hub of Lagos that authorities hope will help grow the West African nation's ailing economy.
A rough week on Wall Street dominated by worries about a weakening economy ended Friday with a broad rally that gave the market its best day in two weeks.
The S&P 500 rose 1.9%. Despite the gains, the benchmark index still ended with its first weekly loss in the last three.
DAVOS, Switzerland (AP) — Elites from politics, business, academia and the arts on Friday wrapped up the World Economic Forum 's annual conclave in the Swiss town of Davos — where worries about the war in Ukraine, a warming planet and a cooling global economy dominated discussions about the world's ills.
BEIJING (AP) — Asian stock markets rose Friday after Wall Street losses deepened as worries grow that the U.S. economy is headed for recession.
Shanghai, Tokyo and Hong Kong advanced. Seoul declined.
WASHINGTON (AP) — Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight slowdown and a hopeful sign that inflation pressures will continue to cool.
The latest year-over-year figure was down from 7.3% in November and from a recent peak of 11.7% in March.
BEIJING (AP) — China’s population shrank for the first time in decades last year as its birthrate plunged, official figures showed Tuesday, adding to pressure on leaders to keep the economy growing despite an aging workforce and at a time of rising tension with the U.S.
BANGKOK (AP) — Shares were mostly higher in Europe and Asia on Monday ahead of China’s release of economic growth figures and a policy update this week from Japan’s central bank.
NEW YORK (AP) — Stocks closed higher on Wall Street Friday to give the S&P 500 its best week in two months as earnings reporting season gets underway and CEOs begin to show how well or poorly they’re navigating high inflation and a slowing economy.
WASHINGTON (AP) — Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default.
BERLIN (AP) — The German economy appears to have stagnated in the fourth quarter, the national statistics office said Friday, while Europe's biggest economy managed full-year growth of 1.9% — slowing somewhat from 2021 as the impact of Russia's war in Ukraine weighed on its performance.
BEIJING (AP) — China’s trade surplus swelled to a record $877.6 billion last year as exports rose despite weakening U.S. and European demand and anti-virus controls that temporarily shut down Shanghai and other industrial centers.
NEW YORK (AP) — The biggest companies have less of a stranglehold on the stock market — and likely on your 401(k).
The 10 most valuable U.S. stocks now account for less than a quarter of the S&P 500, 24.4%.
WASHINGTON (AP) — For months, the outlook for the U.S. economy has been a mostly bleak one: Inflation hitting a four-decade high, consumer spending weakening, interest rates surging.
LONDON (AP) — Climate change is the global economy's biggest long-term challenge but one the world is least prepared to tackle because of short-term problems led by a cost-of-living crisis, the World Economic Forum said in a report Wednesday.
CAIRO (AP) — Egypt continues to battle surging inflation amid a dramatic slide of its currency as many Egyptians struggle with price hikes, the country’s statistics bureau said Tuesday.
The state-run Central Agency for Mobilization and Statistics released figures showing that the annual inflation was at 21.9% last month, up from 19.2% in November.
WASHINGTON (AP) — The Federal Reserve has only a limited role to play in combating climate change, Chair Jerome Powell said Tuesday, a stance that puts him at odds with environmental activists who have pushed central banks worldwide to take steps to restrict lending to energy companies.
WASHINGTON (AP) — The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies — the United States, Europe and China — the World Bank warned on Tuesday.
BEIJING (AP) — Wang Jian is anxious to get back to work teaching basketball to children now that China has lifted anti-COVID-19 restrictions.
NASSAU, Bahamas (AP) — Dressed in a canary blue suit on a warm December night, sweat dripping from his brow, Bishop Lawrence Rolle belts out the lyrics to his latest hit song for the hundreds of children and adults gathered to celebrate Christmas.
WASHINGTON (AP) — America’s employers added a solid 223,000 jobs in December, evidence that the economy remains healthy even as the Federal Reserve is rapidly raising interest rates to try to slow economic growth and the pace of hiring.
TOKYO (AP) — Asian shares were mostly higher Friday after Wall Street benchmarks fell on worries that the U.S. Federal Reserve will keep raising interest rates.
Markets rose in Japan, Australia, South Korea and China in muted trading.
NEW YORK (AP) — Wall Street expects companies to face a reckoning with the realities of hot inflation, a slowing economy and rising interest rates in the latest round of earnings results.
Analysts are forecasting an earnings contraction of about 3.5% for the fourth quarter, according to FactSet.
BEIRUT (AP) — Syria’s economy has hit its lowest point since the start of its civil war nearly 12 years ago, with spiraling inflation, a currency plunge and severe fuel shortages in both government-run and rebel-held areas.
LONDON (AP) — British Prime Minister Rishi Sunak pledged to halve inflation, grow the U.K. economy and stop illegal immigration Wednesday as he set out his Conservative government's priorities in his first major speech of 2023.
WASHINGTON (AP) — U.S. job openings slipped in November but remained high, suggesting businesses are still determined to add workers, a blow to the Federal Reserve's efforts to cool hiring and wage gains.
TOKYO (AP) — Major Japanese companies have grown more pessimistic about the economy, given higher costs and a weaker yen, according to a survey by Kyodo News.
The survey of 117 companies found just over half, or 56%, expect the economy to grow this year.
WASHINGTON (AP) — The number of people seeking unemployment benefits rose only slightly last week with the labor market remaining strong despite the Federal Reserve's efforts to cool the economy and hiring.
BANGKOK (AP) — Shares rose Monday in Asia in thin post-Christmas holiday trading, with markets in Europe, some Asian cities and the U.S. closed.
Tokyo's Nikkei 225 index gained 0.7% to 26,405.87 and the Kospi in Seoul added 0.2% to 2,317.14.
NICE, France (AP) — Tunisia’s increasingly authoritarian president appears determined to upend the country’s political system. The strategy is not only threatening a democracy once seen as a model for the Arab world, experts say it is also sending the economy toward a tailspin.
WASHINGTON (AP) — Shrugging off rampant inflation and rising interest rates, the U.S. economy grew at an unexpectedly strong 3.2% annual pace from July through September, the government reported Thursday in a healthy upgrade from its earlier estimate of third-quarter growth.
WASHINGTON (AP) — Slightly more Americans filed for unemployment benefits last week as the labor market continues to show strength even as the Federal Reserve has tried for nearly a year to slow the economy by raising its main lending rate.