Tag: USA

There is an “elevated” risk of a market correction, European Central Bank vice president Luis De Guindos told CNBC on Wednesday, as stock indices notch fresh record highs despite a combination of geopolitical turmoil, fiscal challenges and outsized valuations.

Mortgage costs across Europe and North America have risen sharply as the economic impact of the Middle East war spills into housing markets, piling pressure on borrowers wanting to buy a new home or refinance.

U.S. President Donald Trump departed Beijing Friday after two days of talks with Chinese President Xi Jinping that ran the gamut from Iran and Taiwan to trade, oil and Boeing.

The U.S. can talk to China about AI because “we are in the lead,” U.S. Treasury Secretary Scott Bessent told CNBC, as the countries unveiled a protocol on best practices for the rapidly improving technology.

Sales at U.S. retailers rose more modestly last month. Retail sales rose 0.5% in April from March, the Census Bureau reported Thursday. That’s a touch below consensus forecasts for a 0.6% increase in April and a pullback from the revised 1.6% surge in March. April sales rose 4.9% from a year ago.

Prices that consumers pay for a wide range of goods and services increased at a faster-than-expected pace in April, raising further concerns about the inflationary impact on the U.S. economy.

Job creation was better than expected in April, as the U.S. labor market continued to defy expectations for a slowdown this year, the Bureau of Labor Statistics reported Friday.

President Donald Trump has said he will give the European Union until July 4 to ratify its trade agreement with the U.S., threatening to raise tariffs to “much higher” levels if the 27-nation bloc fails to do so.

For much of America, the Iran war has meant pain at the pump. For Whirlpool, it has caused what it calls a “recession-level industry decline,” and higher appliance prices are coming as a result.

Private sector job creation was stronger than expected in April, providing more evidence of a stable labor market and less incentive for the Federal Reserve to lower interest rates amid persistently higher inflation, ADP reported Wednesday.

Oil prices fell sharply Wednesday on optimism that the U.S. and Iran were close to an agreement to end the conflict.

Consumers faced escalating prices in March as the Iran war sent oil soaring and created a new level of challenges for the Federal Reserve.

An unusually divided Federal Reserve on Wednesday held its key interest rate steady as policymakers grappled with the policy impact of persistent inflation and awaited a looming leadership transition at the central bank.

Iran has given the US a new proposal to reopen the Strait of Hormuz and end the war that includes postponing nuclear negotiations, Axios reported, citing a US official and two people with knowledge of the matter.

President Donald Trump on Tuesday extended the two-week U.S. ceasefire with Iran, saying the extension was warranted due to Tehran’s government being “seriously fractured.”

Sales at U.S. retailers posted the biggest gain in March in three years, but the increase was driven by higher gasoline prices and rising inflation, both of which could sap the economy if they don’t ease soon.

Fifty days into the U.S.-Israel war with Iran, tensions escalated again after clashes in the Gulf prolonged shipping disruptions and cast doubt on a fragile ceasefire set to expire this week.

Producer prices rose in March but considerably less than expected as the Iran war’s push on energy prices rekindled fears of another inflation burst.

Core inflation eased slightly in February before the recent surge in energy prices, according to a key gauge released Thursday that offers the Federal Reserve a snapshot of conditions leading into the Iran war.

The recent data release for durable goods orders has indicated a more significant decline than anticipated, raising concerns about the strength of the manufacturing sector and its potential impact on the U.S. economy.