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Inflation

Stock market today: Asian shares slip ahead of key US economic reports

Asian shares have declined in cautious trading ahead of some key reports this week on the U.S. job market that might provide insight into the Federal Reserve’s thinking about interest rates.

Fed’s Powell notes inflation is easing but downplays discussion of interest rate cuts

Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said.

Federal Reserve’s preferred inflation gauge shows price pressures continuing to cool

The Federal Reserve’s preferred inflation measure cooled last month, the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth.

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled

Europeans are again seeing some relief as inflation dropped to 2.4% in November, the lowest in more than two years.

Stock market today: Asian shares slip after Wall Street ends its best month of ’23 with big gains

Asian shares have slipped after Wall Street closed out its best month of the year with big gains in November. U.S. futures rose while oil prices dropped.

US economic growth for last quarter is revised up to a 5.2% annual rate

Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government said in an upgrade from its previous estimate.

The world economy will slow next year because of inflation, high rates and war, OECD says

The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates.

Stock market today: Asian shares mostly higher ahead of US price update, OPEC+ meeting

BANGKOK (鶹ýapp) — Asian shares were mostly higher Thursday ahead of an update on U.S. consumer inflation and a meeting of oil producers in Vienna.

Fed’s Waller raises possibility of a rate cut by spring if inflation keeps slowing

A key Federal Reserve official raised the possibility that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily.

Biden says he’s helped lower inflation as he hosts first meeting of his new supply chain council

President Joe Biden has opened the first meeting of his supply chain resilience council by warning companies against price gouging and saying that his administration is working to lower costs for U.S. families.

This Week in Business: Consumer confidence, inflation update, Dollar Tree earnings

The Conference Board issues its consumer confidence report for November on Tuesday. Dollar Tree reports its latest financial results on Wednesday, giving investors a glimpse into consumer spending habits at discount retailers.

Stock market today: Asian shares mostly higher ahead of consumer confidence and price data

Shares are mixed in Asia after Wall Street benchmarks edged lower as investors looked ahead to updates on inflation and how American consumers are feeling about the economy.

Russian consumers feel themselves in a tight spot as high inflation persists

The shelves at Moscow supermarkets are full of fruit and vegetables, cheese and meat. But many of the shoppers look at the selection with dismay as inflation makes their wallets feel empty.

Stock market today: Wall Street ends mixed in half-day session, marks fourth straight winning week

Stocks drifted to a mixed finish after a half-day trading session capped a holiday shortened week that left the major indexes with their fourth straight winning week.

Retailers offer bigger Black Friday discounts to lure hesitant shoppers hunting for the best deals

Retailers try big discounts and other enticements to lure shoppers to stores for Black Friday. But they worry those may not be enough.

Turkey’s central bank hikes interest rates again as it tries to tame eye-watering inflation

Turkey’s central bank has delivered another huge interest rate hike as it tries to curb double-digit inflation that has left households struggling to afford food and other basic goods.

Retailers are ready to kick off Black Friday just as shoppers pull back on spending

Retailers are kicking off the unofficial start of the holiday shopping season on Friday with a bevy of discounts and other enticements.

After the dollar-loving Milei wins the presidency, Argentines anxiously watch the exchange rate

The exchange rate is top of mind for millions of Argentines coping with triple-digit inflation. Now they are anxious for signs of what the victory of President-elect Javier Milei will mean for the value of the peso.

Federal Reserve minutes: Officials saw inflation slowing but will monitor data to ensure progress

Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2% target, according to the minutes of their meeting.

Stock market today: Asian shares slip following a weak close on Wall Street

Shares are mostly lower in Asia after Wall Street’s rally ran out of momentum. Tokyo and Mumbai advanced while most other major markets declined.

Key Fed official sees possible ‘golden path’ toward lower inflation without a recession

Austan Goolsbee, president of the Federal Reserve Bank of Chicago, suggested that the economy appears to be on what he calls the “golden path,” another term for what economists often term a “soft landing,” in which the Fed would curb inflation without causing a deep recession.

Why Americans feel gloomy about the economy despite falling inflation and low unemployment

Inflation has reached its lowest point in 2 1/2 years. The unemployment rate has stayed below 4% for the longest stretch since the 1960s.

Retail sales slip in October as consumers pull back after summer splurges

Americans cut back on retail spending in October, ending six straight months of gains, though the decline was partly driven by falling prices for both gasoline and cars.

US producer prices slide 0.5% in October, biggest drop since 2020

U.S. wholesale prices fell sharply last month as inflationary pressure continued to ease in the face of a year and a half of higher interest rates.

Target tops third quarter profit expectations, but inflation weighs on shoppers

Target on Wednesday reported a hefty third-quarter profit increase that handily beat Wall Street expectations, benefiting from efforts to hold down costs.

Economy has lost momentum during a tough year, EU commission says and warns of risk from Mideast

The European Union’s executive commission has lowered growth its expectations for this year and next, saying the economy “has lost momentum” as inflation discourages consumers and higher interest rates deter borrowing for purchases and investment.

UK government meets pledge to halve inflation this year as rate falls to 2-year low of 4.6%

Inflation in the U.K. dropped sharply in October to its lowest level in two years largely because last year’s steep rise in domestic energy bills dropped out of the annual comparison.

Stock market today: Asian shares fall over China-US jitters following Biden’s meeting with Xi

Asian shares have retreated after Wall Street added a bit more to its big rally from a day before. Oil prices and U.S. futures also were lower.

The bird flu outbreak isn’t over, but it’s less severe, helping egg and poultry prices recover

Nearly 5 million chickens, turkeys and other birds have been slaughtered this year because of a persistent bird flu outbreak that began in 2022.

Home Depot sales continue to slide but the biggest home improvement chain still tops expectations

Home Depot is continuing to see its sales decline amid inflation concerns, and the home improvement retailer narrowed its fiscal 2023 outlook.