News
US stocks soar to their best day since May
2+ hour, 16+ min ago (643+ words) The S&P 500 rallied 2% for its best day since May. The Dow Jones Industrial Average soared 1,206 points, or 2.5%, and topped the 50,000 level for the first time, while the Nasdaq composite leaped 2.2%. Chip companies helped drive the widespread rally, and Nvidia…...
Study: Wealthy ramp up spending while other Americans tread water
2+ hour, 16+ min ago (397+ words) The data, released by the Federal Reserve Bank of New York, also show that in the final three months of last year, lower-income and rural households faced higher inflation than higher-income households. The spending data focuses only on goods excluding…...
Robbins, Miles tabbed for advisory council
5+ day, 1+ hour ago (289+ words) The Federal Reserve Bank of Cleveland named two Mahoning Valley CEOs among the 33 new members appointed to its advisory councils Friday. Dani Robbins, head of Lake to River Economic Development, and John Miles of Steelite International were chosen for the…...
Initial unemployment claims see slight bump
1+ week, 13+ hour ago (100+ words) Ohioans filed 6,853 initial unemployment claims the week of Jan. 18-Jan. 24, the Ohio Department of Job and Family Services reported Thursday. That was 20 more than the previous week. Ohioans filed 65,361 continued unemployment claims last week, which was 870 fewer than the previous…...
Wall Street sinks as Trump threatens tariffs for European countries over Greenland
2+ week, 3+ day ago (665+ words) The losses were widespread, with nearly every sector losing ground. Major indexes in the U.S. extended losses from last week in what has been a wobbly start to the year. The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86. It is the steepest…...
Cautious shoppers step up spending to start holiday season
1+ mon, 2+ week ago (308+ words) From Nov. 1 through Sunday, cash and credit card sales rose 4.2%, which is less than the 4.8% increase during the same period a year ago, according to Visa's Consulting & Analytics division. The data, which exclude sales from auto dealerships, gas stations and…...
Federal Reserve cuts key interest rate by a quarter-point for the third time in a row
1+ mon, 3+ week ago (832+ words) WASHINGTON " The Federal Reserve reduced its key interest rate by a quarter-point for the third time in a row Wednesday but signaled that it may leave rates unchanged in the coming months. The cut decreased the Fed's rate to about…...
Fed likely to lower borrowing costs this week
1+ mon, 4+ week ago (239+ words) The Fed's 19-member rate-setting committee is sharply divided over whether to lower borrowing costs again. The divisions have been exacerbated by the convoluted nature of the economy: Inflation remains elevated, which would typically lead the Fed to keep its key…...
Job openings barely budged in October
1+ mon, 4+ week ago (189+ words) The Labor Department reported Tuesday that employers posted 7.67 million vacancies in October, close to September's 7.66 million. Job openings have come down steadily since peaking at a record 12.1 million in March 2022, when the economy was roaring back from COVID-19 lockdowns. The…...
Average long-term mortgage rate falls to 6.19%
2+ mon, 1+ day ago (424+ words) The average rate on a 30-year U.S. mortgage fell again this week, slipping close to its low point so far this year. The decline brings the average long-term mortgage rate to 6.19% from 6.23% last week, mortgage buyer Freddie Mac said Thursday. A…...