LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May.
Stocks fell again on Wall Street Thursday, closing out the worst quarter for the market since the onset of the pandemic in early 2020. The S&P 500 index lost 0.9%. It's now down 21% since hitting a record high at the beginning of the year, having entered a bear market earlier in June. The Dow Jones Industrial Average fell 0.8% and the Nasdaq fell 1.3%.
Stocks ended mostly lower on Wall Street Wednesday, keeping the market on track for its fourth monthly loss this year. The S&P 500 fell 0.1%. The benchmark index has been volatile all week, and is down 20% for the year as investors worry about inflation and rising interest rates. The Dow Jones Industrial Average rose 0.3% and the Nasdaq fell less than 0.1%.
NEW YORK (AP) — Wall Street has pivoted from losses to gains about an hour before markets open, following declines in Europe and Asia ahead of the latest update on U.S. economic growth. Futures for the Dow industrials rose 0.4% while futures for the S&P 500 gained 0.3%.
Stocks slid on Wall Street Tuesday as the market remains gripped by uncertainty over pervasive inflation, rising interest rates and the potential for a recession. The S&P 500 fell 2%, the Dow Jones Industrial Average fell 1.6%, and the Nasdaq fell 3%.
Stocks rallied on Wall Street Friday, sending the S&P 500 up 3.1% for its best gain in two years. The benchmark index also ended the week 6.4% higher, erasing the brutal loss it took a week earlier. It was just the second winning week for the benchmark index in the last 12.
NEW YORK (AP) — Wall Street is poised to open higher at the opening bell a day after the head of the Federal Reserve acknowledged that a recession is possible. Futures for the Dow Jones Industrial Average are up 0.6% early and futures for the S&P 500 are up 0.8%.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession.
COLOMBO, Sri Lanka (AP) — Sri Lanka’s prime minister says its debt-laden economy has “collapsed" after months of shortages of food, fuel and electricity. In comments underscoring the country’s dire situation as it seeks help from international lenders, Prime Minister Ranil Wickremesinghe told Parliament the South Asian country is “facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food.
ATLANTA – Georgia’s unemployment rate fell to an all-time low of 3.1% last month, well below the national jobless rate of 3.6%, the state Department of Labor reported Thursday. At the same time, the number of jobs rose to a record high of nearly 4.8 million in May, up more than 18,000 from April.