Category Archives: Business News

Palantir, Nvidia and other AI stars dim as Wall Street pulls further from its records

Palantir, Nvidia and other AI stars dim as Wall Street pulls further from its records

NEW YORK (AP) — Wall Street is edging further from its records. The S&P 500 fell 0.3% Tuesday and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average added 86 points, and the Nasdaq composite was down 1%. Drops for Palantir Technologies, Nvidia and other stars bid up because of the mania around artificial-intelligence technology led the declines. Home Depot helped lift the Dow after standing by its forecast for profit and revenue this year. Treasury yields fell in the bond market on expectations for coming cuts for interest rates.… Continue Reading

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady

Most US stocks fall after a disappointing inflation update, but Big Tech keeps Wall Street steady

NEW YORK (AP) — Most stocks are falling on Wall Street following a disappointing update on inflation. But gains for Amazon and other influential Big Tech companies are helping to mask the losses on Thursday, and the S&P 500 rose 0.1% even though three out of every four stocks within the index fell. The Dow Jones Industrial Average dipped 79 points, and the Nasdaq composite added 0.2% to its own record. The hotter-than-expected inflation report forced traders to second guess the widespread consensus that the Federal Reserve will deliver relief next month by cutting interest rates. Treasury yields rose.… Continue Reading

Wall Street ticks higher after a rally wrapped around the world

Wall Street ticks higher after a rally wrapped around the world

NEW YORK (AP) — U.S. stocks are drifting around their record levels after a rally spurred by hopes for lower U.S. interest rates wrapped around the world. The S&P 500 rose 0.1% Wednesday, coming off its latest all-time high. The Dow Jones Industrial Average climbed 325 points, while the Nasdaq composite was flat after setting a record the day before. Treasury yields eased, as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rates for the first time this year at its next meeting in September. Stocks leaped by more than 1% in several Asian markets, while European indexes rose more modestly.… Continue Reading

Amazon expands its perishable delivery service, putting pressure on traditional grocers

Amazon expands its perishable delivery service, putting pressure on traditional grocers

NEW YORK (AP) — Amazon is now rolling out a service where its Prime members can order their blueberries and milk at the same time as their batteries and other basic items. The online juggernaut said Wednesday that customers in more than 1,000 cities and towns now have access to fresh groceries with its free Same-Day Delivery on orders over $25 for Prime members, with plans to reach over 2,300 locations by year-end. The company said that if an order doesn’t meet the minimum, members can still choose Same-Day Delivery for a $2.99 fee. For customers without a Prime membership, the service is available with a $12.99 fee, regardless of order size.… Continue Reading

US stocks rally to records on hopes for cuts to interest rates

US stocks rally to records on hopes for cuts to interest rates

NEW YORK (AP) — The U.S. stock market rallied to records after data suggested inflation across the country was a touch better last month than economists expected. The S&P 500 rose 1.1% Tuesday and topped its all-time high set two weeks ago. The Dow Jones Industrial Average climbed 483 points, and the Nasdaq composite jumped 1.4% to set its own record. Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September. Lower rates can give the economy and investment prices a boost.… Continue Reading

US inflation held steady last month as tariff hit offset by cheaper gas, food

US inflation held steady last month as tariff hit offset by cheaper gas, food

WASHINGTON (AP) — U.S. inflation was unchanged in July as rising prices for some imported goods were balanced by falling gas and grocery prices, leaving overall prices modestly higher than a year ago. The figures suggest that slowing rent increases and cheaper gas are offsetting some impacts of President Donald Trump’s sweeping tariffs. Many businesses are also absorbing much of the cost of the duties. Tuesday’s figures likely include some impact from the 10% universal tariff Trump imposed in April, as well as higher duties on countries such as China and Canada.… Continue Reading

US stocks slip as Wall Street braces for an update on inflation

US stocks slip as Wall Street braces for an update on inflation

NEW YORK (AP) — U.S. stocks edged back from their record heights in Wall Street’s final moves before an upcoming update on inflation. The S&P 500 fell 0.3% after flirting with its all-time high earlier in the day. The Dow Jones Industrial Average dipped 0.5%, and the Nasdaq shaved 0.3% off its record. The highlight of this week for Wall Street is likely to arrive on Tuesday, when the government will report how bad inflation was across the country in July. A hot reading could discourage the Federal Reserve from delivering the cuts to interest rates that President Donald Trump has been demanding.… Continue Reading

Walden: N.C. economy still strong despite national slowdown

Walden: N.C. economy still strong despite national slowdown

RALEIGH, N.C. (WPTF) — While the national economy shows signs of slowing, North Carolina remains in good shape, according to N.C. State University Economist Emeritus Dr. Mike Walden. Walden, the guest on this week’s Carolina Newsmakers, said tracking the effectiveness of tariffs is challenging and most economists did not expect the U.S. to be in its current position. He noted that President Donald Trump’s administration has taken a new approach to trade policy.… Continue Reading

Wall Street clocks another winning week

Wall Street clocks another winning week

Stocks rose on Wall Street, marking their third winning week in the last four. The S&P 500 rose 0.8% Friday, leaving the index just shy of the record it set last week. The Dow Jones Industrial Average climbed 0.5%, and the Nasdaq composite added 1% to the record it set a day earlier. Expedia and Gilead Sciences rose sharply after reporting results that easily beat analysts’ forecasts. Both companies also raised their outlooks. Asian markets closed mostly lower except in Tokyo, where the Nikkei rose 1.9%. European markets were mixed. Treasury yields rose in the bond market.… Continue Reading

Wall Street drifts as stock markets worldwide take Trump’s new tariffs in stride

Wall Street drifts as stock markets worldwide take Trump’s new tariffs in stride

NEW YORK (AP) — U.S. stocks drifted to a mixed finish as President Donald Trump’s tariffs on dozens of countries had only a muted effect on markets worldwide. The S&P 500 slipped 0.1% Thursday. The Dow Jones Industrial Average dipped 0.5%, and the Nasdaq composite rose 0.3% to a record. Worries are high that Trump’s tariffs are damaging the economy, particularly after last week’s worse-than-expected report on the job market. But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are helping to offset the concerns, at least for now. Treasury yields ticked higher.… Continue Reading

Recent News

Powered By SoCast