U.S. consumers increased their spending last month by 1.9%, a dose of support for an economy struggling to emerge from the grip of a pandemic that has recovered and left roughly 27 million people unemployed. The July gain marked the third straight monthly increase in consumer spending, the primary driver …
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The Federal Reserve will have to support the economy because the recovery from the coronavirus pandemic “will be slow,” a top official at the central bank said Friday. “There’s more pain we need to support the economy,” Loretta Mester, president of the Cleveland Fed, told CNBC’s Steve Liesman during an …
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U.S. government debt prices slid lower Friday, when markets responded to Federal Reserve Chairman Jerome Powell’s announcement of a major policy shift when it comes to inflation. The yield on the benchmark 10-year Treasury note rose to 0.7638%, while the yield on the 30-year Treasury bond peaked higher to 1.5369. …
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Futures tied to key U.S. stock benchmarks were flat in trading overnight Thursday as Wall Street tries to build on its record-breaking rally. The futures of the Dow Jones Industrial Average received just 30 points. The S&P 500 futures and the Nasdaq 100 futures were not much changed. The S&P …
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The New York Stock Exchange has won the approval of regulators to allow companies new shares through direct listings, creating a cheaper alternative to the traditional first public offering. The Securities and Exchange Commission said Wednesday night in an order that it approved a new type of direct listing where …
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