US weekly jobless claims fall from 2-year high, but are still worse than expected
The number of Americans filing applications for unemployment benefits dropped from more than a two-year high last week, pointing to sustained labor market strength. Initial claims for state unemployment benefits decreased 18,000 to a seasonally adjusted 234,000 for the week...
Chinese may be cutting back on spending. But there’s one area that continues to grab wallet share
Blend Images – Jade | Getty Images An increase in spending by “young free spenders” in China are helping the local fitness industry, according to McKinsey’s bi-annual survey of the consumer released Thursday. Despite U.S.-China trade tensions and a slowdown...
Fed’s Williams says repo operations working well and should stay in place ‘just as long’ as needed
New York Fed President John Williams said the short-term lending market is functioning well, and the Fed should keep its repo operations in place just as long as needed. The repo market is the basic plumbing of the financial system,...
A Trump impeachment bad for your finances? Depends on your politics
If you’re concerned that your fellow Americans may be worried about a potential hit to their pocketbooks from impeachment of President Donald Trump, the most recent consumer confidence reading could lead you to spend more money and much less time...
US housing starts rise more than expected, with permits at a 12-1/2-year high
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy. Housing starts rose 3.2% to a...
US manufacturing production rose more than expected in November
A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters...
Homebuilder confidence jumps to highest level in 20 years
A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades. Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since...
Mohamed El-Erian sees US and China going into an economic war beyond trade after 2020 election
The Allianz chief economic advisor says he doesn’t think the phase one trade agreement is the first step to a long-term cooling in U.S.-China relations.
Path is clear for a year-end rally with key hurdles like the trade war removed
With trade tensions toned down, stocks have clearance to rally into year end, a traditionally positive time for stocks.
US retail sales rose less than expected 0.2% in November
U.S. retail sales increased less than expected in November as Americans cut back on discretionary spending, which could see economists dialing back economic growth forecasts for the fourth quarter. The Commerce Department said on Friday retail sales rose 0.2% last...
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