1.11am BST01:11 Evening Summary We’re wrapping up our live US politics coverage for the evening, ahead of an Independence Day weekend that has the wildfire-prone west coast of the US on edge, as celebratory fireworks are set off across a parched landscape that is all-too-ready to burn. Meanwhile, Americans plan to gather in large numbers … Read more
Americans increased their spending by 0.5% in April, a slowdown after a massive gain in March that had been powered by the distribution of billions of dollars in individual stimulus checks. Even with the pullback from a 4.7% surge in spending in March, the April increase provided further evidence that consumers are driving a strengthening … Read more
Washington: US consumer confidence continued to deteriorate in August, falling below the level seen in the early weeks of the pandemic as coronavirus cases rise, according to a survey released Tuesday. After dropping in July, the Conference Board‘s consumer confidence index fell further to 84.8 in August from 91.7 the month prior as sentiment about … Read more
NEW YORK: Has Wall Street missed the news that we are in a pandemic? The US economy remains battered by the coronavirus outbreak and Congress is deadlocked on another stimulus bill – yet the US stock market just hit a new record intraday high. While it may seem like investors have failed to factor in … Read more
The US budget deficit climbed to USD 2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday. The nation’s budgetary shortfall is expected to eventually reach levels for the fiscal year that ends September 30 more than double the largest annual deficit on record. The … Read more
By Peter S. Goodman, Liz Alderman and Jack Ewing Before the pandemic, a traditional state of play prevailed in the enormous economies on the opposite sides of the Atlantic. Europe — full of older people, and rife with bickering over policy — appeared stagnant. The United States, ruled by innovation and risk-taking, seemed set to … Read more
By April Joyner New York: Investors are preparing their portfolios for a potentially rocky patch in U.S. stocks, worried that a dramatic rebound in equities may stall amid dimming economic data and rising political uncertainty. Most money managers are wary of cutting equity exposure too drastically in a market that has rallied more than 40 … Read more
The S&P 500 and Dow closed lower on Thursday after data painted a worrying economic picture on a crucial day for corporate earnings reports, while President Donald Trump exacerbated investor nervousness by floating the possibility of delaying the U.S. presidential election. The main earnings focus on Thursday was on reports from high-flyers including Apple Inc, … Read more