Key inflation indicator up 3.5% year over year in June for fastest gain since 1991
An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday. The personal consumption expenditures price index, which excludes...
Nasdaq futures fall more than 1% as stocks try to round out strong July
Matteo Colombo | DigitalVision | Getty Images Futures contracts tied to the major U.S. stock indexes fell in the overnight session as a soft earnings report from Amazon threatened to dampen an otherwise strong month ahead of July’s final day...
Pending home sales drop in June — more evidence of a housing turnaround
A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Pending sales of existing homes in June as measured by signed contracts fell 1.9%...
U.S. GDP rose 6.5% last quarter, well below expectations
The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic but still has more work to do. Gross domestic...
Stocks making the biggest moves premarket: Comcast, Merck, Tempur Sealy, Yum and others
Check out the companies making headlines before the bell: Comcast (CMCSA) – Comcast rose 1.9% in the premarket after reporting adjusted quarterly earnings of 84 cents per share, beating the consensus estimate of 67 cents. The NBCUniversal parent also reported...
Fed holds rates near zero, says economy has gotten better even with pandemic worries
The Federal Reserve on Wednesday held its benchmark interest rate near zero and said the economy continues to progress despite concerns over the pandemic spread. As expected, the Federal Open Market Committee concluded its two-day meeting by keeping interest rates...
Stocks making the biggest moves after hours: PayPal, Facebook, Ford and more
The PayPal app shown on an iPhone Katja Knupper | DeFodi Images | Getty Images Check out the companies making headlines in after the bell. Facebook — Shares of the social media giant fell more than 3% after warning of...
Mortgage rates just dropped to a six-month low, and refinances shoot higher
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York. Raychel Brightman | Newsday LLC | Newsday | Getty Images The popular 30-year fixed...
IMF warns that inflation could prove to be persistent and central banks may need to act
The International Monetary Fund warned Tuesday that there’s a risk inflation will prove to be more than just transitory, pushing central banks to take pre-emptive action. The issue is currently dividing the investment community, which has been busy contemplating whether...
Barclays beats profit estimates and ups shareholder payments as equities, investment banking surge
Barclays and HSBC buildings are seen amid the outbreak of the coronavirus disease (COVID-19), in London, Britain October 20, 2020. Matthew Childs | Reuters Barclays beat second-quarter profit expectations on Wednesday and boosted returns to shareholders, with its investment banking...