Stock futures flat after S&P 500 hits new high, despite rising inflation
Traders at the New York Stock Exchange, June 2, 2021. Source: NYSE U.S. stock futures were flat Thursday night after the S&P 500 hit a new high during regular trading, despite hotter-than-expected inflation data. Futures tied to the Dow Jones...
Household net worth climbs to $136.9 trillion, thanks to big stock market gains
U.S. dollars are counted by a at a bank in Westminster, Colorado. Rick Wilking | Reuters The net worth of U.S. households climbed to new heights as 2021 began and the effects of the Covid-19 pandemic began to fade. Thanks...
Consumer prices jump 5% in May, fastest pace since the summer of 2008
Consumer prices for May accelerated at their fastest pace in nearly 13 years as inflation pressures continued to build in the U.S. economy, the Labor Department reported Thursday. The consumer price index, which represents a basket including food, energy, groceries,...
Hot inflation may have become scorching in May and is expected to hit a 28-year high
Inflation has been warming up this spring, and it’s expected to hit historical levels for the month of May. The consensus forecast for the core consumer price index, which excludes food and energy, is 3.5% on a year-over-year basis, according...
‘Impotent’ Fed policy will fail to contain 1970s-type inflation, investor Peter Boockvar predicts
Most people want to forget this part of the 1970s. But inflation is back, and investor Peter Boockvar predicts it will be the most widespread in decades. “Monetary policy … is right now impotent in its ability to stimulate economic...
Biden plan would raise taxes by $213,000 next year on top 1%, analysis finds
Samuel Corum | Getty Images News | Getty Images The top 1% would see their federal taxes rise by more than $213,000, on average, next year as a result of President Joe Biden’s tax plan, according to an analysis published...
Mortgage rates drop, but not enough for priced-out homebuyers
A real estate agent and a potential home buyer in Coral Gables, Fla. Getty Images Mortgage rates fell slightly last week, but not enough to light a fire under mortgage demand. Total mortgage application volume decreased 3.1% for the week,...
Stock futures are flat as S&P 500 remains range-bound near record
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures were flat in overnight trading on Tuesday after Wall Street appeared range-bound near its record levels. Futures on the Dow Jones Industrial Average were little changed....
Job openings set record of 9.3 million as labor market booms
Job openings in April soared to a record 9.3 million as the economy rapidly recovered from its pandemic depths. The standard set in April was well above the 8.3 million in March that itself was a new high going back...
U.S. trade deficit narrows slightly from record levels as Covid-era demand for imports lets up
The CMA CGM Marco Polo, an Explorer class container ship crosses under the Verrazzano-Narrows Bridge, to enter New York Harbor as seen from Brooklyn, New York, U.S., May 20, 2021. Brendan McDermid | Reuters Americans’ demand for imports abated in...
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