New residential construction picked up in June as builders focused on scaling up multifamily projects. Housing starts rose 3% to a seasonally adjusted annual pace of 1.35 million units, according to data from the Census Bureau released Wednesday. Multi-family construction contributed to the gain last month. New construction of five or more units climbed to
Investors are confident the Federal Reserve will be lowering interest rates by the end of its September meeting. As of Tuesday morning, markets were pricing in a 100% chance of an interest rate cut in September, per the CME FedWatch Tool, up from a 70% chance a month ago. The increased confidence comes after a
US stocks opened higher on Tuesday, as investors assessed big bank earnings and a retail sales surprise amid growing conviction an interest-rate cut is near. The Dow Jones Industrial Average (^DJI) rose roughly 0.5% shortly after the opening bell, after the blue-chip index topped 40,000 to notch an all-time closing high. The S&P 500 (^GSPC)
Heading into November’s U.S. presidential election, professional investors agree on one strategy — diversification remains key. Stocks have been on an tear this year, with the S & P 500 and Nasdaq Composite closing at all-time highs this week even as questions swirl about when the Federal Reserve will start to lower interest rates. A
Inflation has remained stubbornly above the Federal Reserve’s 2% target on an annual basis. But recent economic data has helped fuel a narrative that the central bank should cut rates sooner than later. Immediately following Thursday’s encouraging inflation data, which showed headline inflation falling month over month for the first time since May 2020, markets
Inflation has remained stubbornly above the Federal Reserve’s 2% target on an annual basis. But recent economic data has helped fuel a narrative that the central bank should cut rates sooner than later. Immediately following Thursday’s encouraging inflation data, which showed headline inflation falling month over month for the first time since May 2020, markets
Traders work on the floor of the New York Stock Exchange. Michael M. Santiago | Getty Images Stock futures edged lower Sunday night as investors await key inflation data for further clues on the longevity of this year’s market rally. Earnings from some major financial giants and consumer companies are also on the docket. S&P futures
US stocks held near all-time highs on Friday as investors weighed the June jobs report, which will play into Federal Reserve rate cut calculations. The S&P 500 (^GSPC) slipped just below the flatline, on heels of the report, after notching a record close in a shortened session on Wednesday. The Dow Jones Industrial Average (^DJI)
Federal Reserve chair Jerome Powell spoke publicly on Tuesday for the first time since the Fed’s preferred inflation gauge showed prices increased at their slowest pace in more than three years during the month of May. While still showing signs of caution, Powell admitted the data has been in the right direction recently. Yahoo Finance’s
US stocks were little changed on Thursday after chipmaker Micron’s (MU) outlook put a dent in tech-rally hopes as investors assessed fresh economic data ahead of an inflation reading key to Federal Reserve policy. The S&P 500 (^GSPC) hugged the flatline after rising Wednesday to close not far short of a new all-time high. The