Stubbornly high rents and food prices boost US inflation in August

The consumer price index increases by 0.1% in August Rents, food and health care explain the rise in the CPI Core CPI jumped 0.6%; increased 6.3% year-over-year WASHINGTON, Sept 13 (Reuters) – U.S. consumer prices rose unexpectedly in August and core inflation accelerated amid rising rent and health care costs, giving the Federal Reserve ammunition … Read more

Wall Street posts its first weekly gain since mid-August

Join now for FREE unlimited access to Reuters.com Register Focus on US inflation data next week Kroger rides on higher forecast Analysts attribute the rise to an oversold condition Sept 9 (Reuters) – U.S. stocks rallied on Friday, with major indexes posting their first weekly gain in four weeks as investors resumed buying, dispelling worries … Read more

Oil settles below $90 as recession fears grow

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo Join now for FREE unlimited access to Reuters.com Register Sep 7 (Reuters) – Oil prices slumped on Wednesday, falling below levels seen before Russia invaded Ukraine as downbeat Chinese trade data fueled investor worries about recession … Read more

Wall Street rebounds on lower yields, focuses on Fed path

Join now for FREE unlimited access to Reuters.com Register Energy stocks follow the fall in oil The Fed’s Beige Book indicates that price pressures are still lingering Fed Chairman Powell will speak on Thursday Sept 7 (Reuters) – U.S. stock indices climbed on Wednesday after a recent selloff as bond yields eased, as investors await … Read more

Wall Street ends its busy post-summer session in the red

Join now for FREE unlimited access to Reuters.com Register ISM service sector data beats estimates Bed Bath & Beyond shares sink after death of CFO Wall St emerges from three straight weeks of decline Dow down 0.55%, S&P 500 down 0.41%, Nasdaq down 0.74% NEW YORK, Sept 6 (Reuters) – Wall Street’s major indexes closed … Read more

Asian stocks flat as investors await more action on rates

People walk past an electronic screen displaying Japan’s Nikkei stock price index inside a conference room in Tokyo, Japan June 14, 2022. REUTERS/Issei Kato/File photo Sign up now for FREE unlimited access to Reuters.com Record HONG KONG, Sept 6 (Reuters) – Asian stocks largely erased morning gains on Tuesday afternoon as investors remained cautious ahead … Read more

US officials order Nvidia to stop sales of top AI chips to China

Sign up now for FREE unlimited access to Reuters.com Record September 1 (Reuters) – Chip designer Nvidia Corp (NVDA.O) said on Wednesday that U.S. officials told it to stop exporting two top computer chips for artificial intelligence work to China, a move that could cripple Chinese companies’ ability to do advanced work like image recognition … Read more

Bed Bath & Beyond to cut jobs and close stores in bid to reverse losses

Join now for FREE unlimited access to Reuters.com Register Aug 31 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) On Wednesday, it announced it had signed deals for more than $500 million in new funding and would close 150 stores, cut jobs and revamp its merchandising strategy in a bid to turn around its loss-making … Read more

Wall Street plummets for 4th straight session on Fed outlook

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 22, 2022. REUTERS/Brendan McDermid Join now for FREE unlimited access to Reuters.com Register Snap jumps as it restructures advertising business and lays off staff Bed Bath & Beyond sinks in corporate overhaul Dow down 0.57%, S&P 500 down … Read more

Fed officials see US interest rates rising further

John C. Williams, President and Chief Executive Officer of the Federal Reserve Bank of New York, speaks at the Economic Club of New York in the Manhattan borough of New York, U.S., March 6, 2019. REUTERS/Lucas jackson Join now for FREE unlimited access to Reuters.com Register Aug 30 (Reuters) – U.S. Federal Reserve officials on … Read more