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AI threatens America’s trade surplus in services
4+ day, 20+ hour ago (374+ words) Artificial intelligence continues to transform society. Many people have used ChatGPT or Google Gemini to get questions answered, poems written or shopping lists drawn up. These large language models, or LLMs, are a novel tool for most, akin to using…...
Stocks swoon as Iran war stokes anxiety, oil jumps above $80 per barrel
6+ day, 18+ hour ago (423+ words) A selloff in chipmakers dragged down stocks while oil hit $81 and bonds slid as headlines continued to depict war escalating in Iran and the Middle East. The S&P 500 fell 1%. A closely watched gauge of giants like Nvidia Corp. and…...
Stocks, bonds tumble on Iran conflict as markets take fright over $85 oil
1+ week, 1+ day ago (453+ words) Stocks fell and bonds deepened losses as the war in Iran showed no signs of de-escalation, heightening fears of a lengthy disruption to energy markets and a surge in inflation. Brent briefly topped $85. In a broad selloff, the S&P…...
U.S. producer prices rise more than expected on services
1+ week, 6+ day ago (397+ words) Prices paid to U.S. producers rose in January by more than forecast, fueled by services and pointing to lingering inflationary pressures. The producer price index increased 0.5%, the most since September, after a revised 0.4% increase in December, a Bureau of Labor Statistics…...
The Supreme Court struck down Trump’s tariffs. Now comes the hard work of issuing refunds
2+ week, 5+ day ago (1078+ words) The Supreme Court on Friday struck down President Donald Trump's biggest and boldest tariffs. But the justices left a $133 billion question unanswered: What's going to happen to the money the government has already collected in import taxes now declared unlawful?...
Murky outlook for businesses after tariff ruling prompts countermoves by Trump
2+ week, 5+ day ago (1167+ words) Businesses face a new wave of uncertainty after the Supreme Court struck down tariffs imposed by President Donald Trump under an emergency powers law and Trump vowed to work around the ruling to keep his tariffs in place. The Trump…...
Mortgage rates dip to 6.01%, lowest level in more than 3 years
3+ week, 8+ hour ago (621+ words) The average long-term U.S. mortgage rate slipped this week to its lowest level in more than three years, but remains around 6% in the same narrow range it has been in this year. The benchmark 30-year fixed rate mortgage rate fell to…...
Inflation falls to five-year low as prices for fuel, housing slow growth
3+ week, 6+ day ago (578+ words) WASHINGTON " A key measure of inflation fell to nearly a five-year low last month as apartment rental price growth slowed and gas prices fell, offering some relief to Americans grappling with the sharp cost increases of the past five years....
America’s vanishing cattle herd drives 15% price hikes for beef
3+ week, 21+ hour ago (855+ words) While US inflation has cooled from its pandemic-era peak, prices at grocery store meat counters are skyrocketing with no relief in sight. The blame game for what's behind the beef price surge has pressured the White House to respond. US…...
Texas’ Main Street sector more optimistic than the rest of U.S., data shows
3+ week, 1+ day ago (684+ words) Everything is bigger in Texas " and small business optimism is no exception, according to new data. Released on Tuesday, the National Federation of Independent Business (NFIB) small business economic trends report ranked the Lone Star State high when compared to…...