US core capital goods orders rebound as economy eyes strong end to 2024
New orders for key U.S.-manufactured capital goods surged in November, offering more signs that the economy is on solid footing as the year ends.
New orders for key U.S.-manufactured capital goods surged in November, offering more signs that the economy is on solid footing as the year ends.
President-elect Donald Trump stated that he will not remove Federal Reserve Chair Jerome Powell.
Consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-1/2 years.
Wall Street’s main indexes rose, with the S&P 500 hitting a record high, as Micron’s upbeat forecast revived the frenzy around AI.
The U.S. Federal Reserve will cut the federal funds rate by 25 basis points in both November and December.
While maintaining interest rates at their highest point in over 20 years on Wednesday, the Federal Reserve made a suggestion that lower borrowing costs may soon be implemented by policymakers due to slight recent improvements in inflation.
Fed Governor Christopher Waller and New York Fed President John Williams both voiced that description of the shortening horizon toward looser monetary policy.
The Labor Department’s employment report also showed the economy created 111,000 fewer jobs in April and June than previously estimated.
Wall Street’s main indexes were mixed on Wednesday, with technology stocks attempting to find a floor after recent selloff.
The Dow Jones Industrial Average hit the 40,000 point threshold for the first time ever on Thursday as investors on Wall Street were feeling timid over the idea of interest rate cuts.