NEW YORK (AP) — The Federal Reserve’s decision on Wednesday to raise its key rate by half a point took it to a range of 4.25% to 4.5%, the highest level in 14 years. The Fed’s latest increase – its seventh rate hike this year – will make it even more expensive for consumers and …
Inflation slowed significantly for a second month in November as prices for goods that surged during the pandemic continued to decline. Yet inflation remained high as the cost of many services continued to rise. Consumer prices rose 7.1% from a year earlier, compared with a 7.7% rise in October and a 40-year high of 9.1% …
Inflation slowed again but remained elevated in November, CPI report shows Read More »
Inflation slowed again last month, more than expected, as the Federal Reserve raised interest rates at the fastest pace in decades. The consumer price index (CPI) in November showed an increase of 7.1% from a year ago and 0.1% in the month, the Bureau of Labor Statistics said Tuesday. Economists had expected prices to rise …
November CPI: inflation increased by 7.1% compared to last year Read More »
Dow Jones futures were down ahead of Tuesday’s open after the Dow Jones Industrial Average gained 528 points on Monday. Tesla stock slipped more than 6% on Monday, ending just past its 2022 lows. X Inflation data, Fed meeting Consumer inflation data is due out Tuesday morning. The CPI is expected to rise 0.3% for …
forward contracts; Stocks rally ahead of CPI inflation data, Fed meeting Read More »
China could reopen its border with Hong Kong before the Lunar New Year China may drop quarantine requirements for Hong Kong residents traveling to the mainland ahead of the Lunar New Year next month as part of the latest round of reopening measures, the South China Morning Post reported, citing official sources. close to the …
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. New York CNN — The Federal Reserve is almost certain to announce on Wednesday that it will raise interest rates again. But investors are hoping it will be a smaller increase than the …
The Fed will raise rates again. But that’s playing with fire | CNN Business Read More »
CNN — Mortgage rates fell again this week, falling for the fourth week in a row. The 30-year fixed-rate mortgage averaged 6.33% in the week ending December 8, down from 6.49% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, …
Mortgage rates fall for the fourth consecutive week | CNN Business Read More »
The Dow Jones Industrial Average rose Thursday morning as energy stocks and China-exposed issues boosted early trade. Weekly jobless claims data from the Labor Department came in higher than expected. And Tesla stock briefly fell nearly 2% after Bloomberg reported the company had shortened shifts at the Shanghai factory and delayed new hires due to …
Stocks climb after unemployment insurance claims; Inflation data on deck Read More »
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. You can listen to an audio version of the newsletter by clicking on the same link. New York CNN Business — The US economy gained 263,000 jobs in November, 63,000 more than the …
New York CNN Business — There’s at least one group of shoppers who are enthusiastically hitting the malls this holiday season — and they don’t seem too bothered by the pesky inflation eating away at their discretionary dollars. They’re Gen Z. And how they buy matters. This cohort of consumers born between 1997 and 2012 …
