Search / 217 results found

from
to
AP
  • Updated

World shares are mostly higher while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in London, Paris, Frankfurt and Tokyo but fell in Hong Kong and Seoul. Oil prices fell back after surging on Friday. U.S. stocks shook off a morning slump Friday and ended higher, but still ended in the red for the week. It was the fourth losing week in the last five for Wall Street as investors fretted over high inflation and the possibility that higher interest rates could bring on a recession. The S&P 500 rose 1.1%.

  • Updated

Stocks shook off a morning slump and ended higher Friday, but not enough to erase their losses for the week. It was the fourth losing week in the last five for Wall Street. The latest choppy trading comes as investors worry about high inflation and the possibility that higher interest rates could bring on a recession. The S&P 500 rose 1.1%. The benchmark index is coming off of its worst quarter since the onset of the pandemic in early 2020. The Dow Jones Industrial Average rose 1% and the Nasdaq added 0.9%. The yield on the 10-year Treasury fell to 2.89%.

AP
  • Updated

Summer travel is underway across the globe, but a full recovery from two years of coronavirus could last as long as the pandemic itself. Interviews by The Associated Press in 11 countries this month show that the most passionate travelers are thronging to locales like the French Riviera, Amsterdam and the American Midwest. But even as safety restrictions fall, places like Israel, India and Rome are reporting only fractions of the record-setting tourism of 2019. For them, a full recovery isn't forecast until at least 2024. China, once the world's biggest source of tourists, remains closed per its “zero-COVID” policy. That's holding down the rebound in many countries.

AP
  • Updated

Asian benchmarks are mostly lower, echoing a decline on Wall Street, after a quarterly report by Japan’s central bank rekindled worries about the world’s third largest economy. Recent data suggest global growth is slowing as countries grapple with renewed waves of coronavirus outbreaks, soaring prices and the war in Ukraine. In the Bank of Japan “tankan” survey, the headline index for large manufacturers was 9, down from 14 the previous quarter, the second straight quarter of declines. However, a survey by a Chinese business magazine, Caixin, showed China’s factory activity expanded in June at its strongest rate in 13 months as the country eased pandemic restrictions, allowing manufacturing and other business activity to resume.

  • Updated

Americans with stock portfolios or retirement investment plans would likely prefer to forget the last six months. The S&P 500, Wall Street’s broad benchmark for many stock funds, closed the first half of 2022 Thursday with a loss of more than 20% after starting the year at an all-time high. It’s the worst start to a year since 1970, when Apple and Microsoft had yet to be founded. Bonds are on pace for one of their worst performances in history, and cryptocurrencies have tumbled after soaring last year. Financial markets have been roiled as the Federal Reserve has hiked interest rates sharply to tame surging inflation.

AP
  • Updated

The dissonant realities of President Joe Biden’s second year in office were on display Thursday as he wound up a five-day trip to Europe that highlighted both the key U.S. role in mounting a strong allied response to Vladimir Putin’s aggression and the domestic turmoil that is dragging Biden down at home. Biden appeared to welcome the time away from Washington as a respite from his domestic predicament, insisting that despite turmoil at home from inflation to gun violence, world leaders still valued America’s — and his — leadership. Biden's success abroad drew rare praise from GOP Sen. Thom Tillis, who said, “Here we have a bipartisan delegation and a president who have a common goal. Back home, maybe not quite as much.'"

AP
  • Updated

The head of NATO says an unstable world could get even more dangerous if the alliance does not remain strong and united. ,Jens Stoltenberg said NATO had a “core responsibility” to stop the conflict in Ukraine spreading, by making clear it would “protect every inch of NATO territory.” He spoke at the end of a summit in Madrid that labeled Russia “a direct threat” to its members’ security. Russian President Vladimir Putin said he would respond in kind if aspiring NATO members Sweden and Finland allowed NATO troops and military infrastructure onto their territory. China accused the alliance of “maliciously attacking and smearing” the country after NATO leaders said Beijing “strives to subvert the rules-based international order."

  • Updated

A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and people of color. The government’s report also said that consumer spending rose at a sluggish 0.2% rate from April to May. On a month-to-month basis, prices rose 0.6% from April to May, up from the 0.2% increase from March to April.

  • Updated

Oil prices are high, and drivers are paying more at the pump. But the OPEC oil cartel and allied producing nations may not be much help at their meeting Thursday. The OPEC+ alliance, which includes Russia, is having trouble meeting its production quotas. So even an expected increase of 648,000 barrels per day for August may not do much to bring down prices as demand for fuel rebounds strongly from the pandemic. Experts also say countries like Saudi Arabia and the United Arab Emirates that can increase production have little incentive to do so. Plus, some oil from major producer Russia has been lost to the market as traders shun it over the war in Ukraine.