Economics News Results

  • Fed rate cuts are a mistake, says Oaktree's billionaire co-chairman

    Critical information for the U.S. trading day. We're going to hear from a busy lineup of Federal Reserve officials on Friday, and they may shed more light on why the bank was so divided on this week's interest rate cut. Our call of the day, from Oaktree Capital's billionaire co-chairman Howard Marks, also weighs in on the Fed as he says the economy doesn't really need the rate cuts it's been doling out.

  • Mortgage rates increase, just as home-sales activity regains momentum

    The Federal Reserve cut interest rates Wednesday, yet rates in the mortgage market still rose. Mortgage rates rose on a weekly basis for the second week in a row, potentially threatening to put a damper on home sales just as the real-estate market's outlook was brightening. The 30- year fixed-rate mortgage averaged 3.73% during the week ending Sept. 19, rising 13 basis points from the previous week, Freddie Mac (FMCC) reported Thursday.

  • U.S. leading economic indicator index flat in August, trends point to continued but slow growth

    The leading economic index was flat in August after a big gain in the prior month, the Conference Board said Thursday. The recent performance of the index is consistent with "a slow but still expanding economy," said Ataman Ozyildirim, senior director for economic research at the Conference Board. Strength in housing permits and credit growth offset weakness from manufacturing.

  • Fed lowers interest rate by a quarter-point, and is open to the idea of more easing

    Seven members project another cut this year. The Federal Reserve Wednesday lowered its benchmark interest rate by a quarter-point, and expressed an openness to more easing. In a move to support the economy in a time of greater uncertainty about the outlook, the Fed reduced its benchmark short-term rate to a range between 1.75% and 2%.

  • Treasury yields remain lower as Fed cuts rate by quarter point

    Treasury yields remained lower after the Federal Reserve cut its benchmark interest rate by a quarter point to a range between 1.75% to 2.00%, as expected. The 10- year Treasury note yield slipped 5.3 basis points to 1.761%, while the 2- year note yield was down 4.9 basis points to 1.688%. Bond prices move in the opposite direction of yields.

  • The S&P 500 should be 13% lower because a recession is coming, warns Deutsche Bank

    Critical information for the U.S. trading day. Investors are keeping a wary eye on oil after weekend attacks on Saudi Arabia crude facilities triggered the largest one-day gain for the commodity since 2008, and plenty of risk-off action all over. The cautious tone looks here to stay as attention turns to the two-day Federal Reserve meeting starting on Tuesday.

  • Dear Mr. President, why is it a good thing if a 10-year Treasury note is worth less than a bag of dirt?

    Economists don't think Trump grasps that negative rates are a sign of economic weakness. President Donald Trump's demand on Wednesday that the Federal Reserve slash its benchmark interest rate "to zero or even negative" is misguided, economists say, because rates that low would be a sign of weak economic conditions. European rates are low because Europe is in trouble, "said Robert Brusca, chief economist at FAO Economics.

  • U.S. Consumers Worry but Keep Spending

    If Americans are getting worried about the economy, it sure isn't showing up at the store. Retail sales rose 0.4% in August from the prior month, the Commerce Department reported Friday, better than the 0.2% economists were looking for. And July sales were revised higher.

  • U.S. consumer sentiment rebounds modestly in September

    Survey finds neither recession nor a rebound in spending is anticipated in the year ahead. The numbers: The University of Michigan said its consumer-sentiment index rebounded modestly in September to a reading of 92 from a three-year low of 89.8 in late August. This is still below the July reading of 98.4.

  • U.S. business inventories climb 0.4% in July

    Business inventories in the U.S. rose 0.4% in July after no change in the prior month, the Commerce Department said Friday. Sales rose 0.3% in the month. The ratio of inventories to sales, meanwhile, was flat at 1.40.

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