Tag: US

Applications for US unemployment benefits fell by the most since 2021 after fraudulent claims boosted the numbers in previous weeks.

Dallas Federal Reserve President Lorie Logan said Thursday that the economic data points so far don’t justify skipping a rate increase at the central bank’s next meeting in June.

Changing interest rates in “smaller, less frequent steps” can make it less likely that U.S. Federal Reserve monetary policy causes financial instability, Dallas Fed President Lorie Logan said on Tuesday.

Top leaders from both sides of the aisle reassured Americans Wednesday that the U.S. won’t default on its debt as tense negotiations over the debt ceiling continued.

Treasury Secretary Janet Yellen on Tuesday issued a fresh warning about consequences if Congress fails to raise the U.S. debt ceiling, saying “the U.S. economy hangs in the balance” if lawmakers don’t act.

U.S. industrial production rose in April after holding flat the prior two months, boosted by the strong output of autos and auto parts.

Spending at US retailers rose in April following two months of declines, showing the US consumer is still fueling the economy.

US bills that mature in early June are showing ongoing signs of concern about the risk of a government default after Treasury Secretary Janet Yellen reiterated to lawmakers that her department’s ability to avoid breaching the statutory debt ceiling via special accounting maneuvers could be exhausted around then.

US stock futures edged down ahead of the market open on Tuesday as investors focused on negotiations over the debt-ceiling stalemate, with talks set to resume later in the day.

The cost of U.S. imported goods rose 0.4% in April, the Labor Department said Friday. This was the first increase this year.

Friday’s debt-ceiling meeting between President Joe Biden and House Speaker Kevin McCarthy has been postponed until next week to give the staff more time.

Large U.S. lenders will bear most of the cost of replenishing a deposit insurance fund that was drained of $16 billion by the collapse of Silicon Valley Bank and two other lenders, although mid-sized banks will also be on the hook, the Federal Deposit Insurance Corporation (FDIC) said on Thursday.

Preliminary consumer sentiment reading falls short of May expectations: University of Michigan

Wholesale prices rose less than expected in April, according to a Labor Department report Thursday that provides more hope that inflation is at least trending lower.

German Finance Minister Christian Lindner hopes American lawmakers will be “mature” over the debt ceiling negotiations to avoid further headwinds for the global economy.

A widely followed measure of inflation rose in April, despite more than a year’s worth of Federal Reserve interest rate increases. The consumer price index, which measures the cost of a broad swath of goods and services, increased 0.4% for the month, in line with the Dow Jones estimate.

Walt Disney Co’s quarterly revenue growth is expected to hit its lowest in nearly two years, underlining the hurdles that Chief Executive Bob Iger faces in revitalizing a company that is now caught in what could be a long strike by Hollywood writers.

U.S. oil and gas producer Occidental Petroleum Corp on Tuesday reported a 48% decline in first-quarter earnings that fell well short of analyst estimates as global economic growth concerns led to a decline in oil prices.

Electric vehicle maker Rivian Automotive on Tuesday reported a first-quarter loss that was narrower than expected and said it’s still on track to meet a 50,000-vehicle production target for 2023.

Total revenue rose 20% year over year. Airbnb swung to a net profit of $117 million, or 18 cents per share, from a net loss of $19 million, or 3 cents per share, in the year-earlier period. The figure marks the first time Airbnb has been profitable during its first quarter on a GAAP basis.