Tag: US

The U.S. economy continued to crank out jobs in May, with nonfarm payrolls surging more than expected despite multiple headwinds, the Labor Department reported Friday.

The U.S. labor market posted another month of surprising strength in May as companies added jobs at a pace well above expectations, according to a report Thursday from payroll processing firm ADP.

The agreement between President Joe Biden and House Speaker Kevin McCarthy to lift the federal debt limit has received opposition from both Democrats and Republicans.

American equity futures made modest gains after Friday’s strong showing on Wall Street, while European stocks wavered amid cautious optimism the US will avert a catastrophic default after the weekend’s tentative deal.

Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that the Federal Reserve follows closely.

On Thursday, revisions to first quarter economic data showed the economy grew faster than initially expected despite inflation coming in higher than first noted.

Urgent talks to raise the U.S. debt ceiling appeared to move closer to a deal Thursday, with only seven days to go before the United States faces an imminent threat of debt default.

US economic growth in the first three months of the year was faster than previously estimated, the Commerce Department reported on Thursday.

Wall Street’s focus is turning to at-risk U.S. Treasury debt payments as the deadline to raise the government’s $31.4 trillion borrowing limit or risk default ticks closer.

Stock futures rose Friday morning as investors eye updates in the ongoing debt ceiling debate and digest a better-than-feared first-quarter earnings season.

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.