Business

U.S. retail sales surge as Americans kick off holiday shopping, brighten economic outlook

WASHINGTON (Reuters) – U.S. retail sales surged in October as Americans eagerly started their holiday shopping early to avoid empty shelves amid shortages of some goods because of the ongoing pandemic, giving the economy a lift at the start of the fourth quarter.FILE PHOTO: Shoppers wait in line to enter the Chanel store on 57th […]

Business

Some investors look to diversify amid big tech rally

NEW YORK (Reuters) – Rising valuations and hefty year-to-date gains for big technology stocks are pushing some investors to diversify away from the sector that has led markets for years.FILE PHOTO: A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. REUTERS/Andrew KellyTech […]

Business

Wall St books records, weekly gains on strong jobs report, Pfizer COVID-19 pill cheer

(Reuters) – Wall Street’s main indexes scored record closing highs on Friday and booked solid gains for the week following a strong U.S. jobs report and positive data for Pfizer’s experimental pill against COVID-19. The S&P 500 and the Nasdaq notched record high closes for their seventh straight sessions, while the Dow Jones Industrial Average […]

Business

Fed rolls out bond-buying 'taper,' holds to 'transitory' inflation belief

WASHINGTON (Reuters) – The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove “transitory” and likely not require a fast rise in interest rates.Slideshow ( 2 images )However, the U.S. central bank […]

Business

U.S. services sector index jumps to record high; private payrolls beat expectations

WASHINGTON (Reuters) – A measure of U.S. services industry activity surged to a record high in October likely as declining COVID-19 cases boosted demand, but businesses remained burdened by snarled supply chains and the resulting exorbitant prices.FILE PHOTO: Customers drink and dine inside the restaurant “Martha” after showing proof of their coronavirus disease (COVID-19) vaccinations […]

Business

U.S. factory orders unexpectedly rise in September

WASHINGTON (Reuters) – New orders for U.S.-made goods unexpectedly rose in September, though manufacturing remains constrained by input shortages.FILE PHOTO: A welder works while building a bus frame at the BYD electric bus factory in Lancaster, California, U.S., July 1, 2021. REUTERS/Mike BlakeThe Commerce Department said on Wednesday that factory orders increased 0.2% in September. […]

Business

Fed's bond-buying timeline: roaring entry, boring exit?

(Reuters) – It is hardly a secret by now that the Federal Reserve is going to reduce its support for the U.S. economy soon: starting this month it will likely begin to pare its monthly asset purchases by $15 billion each month until ending them by mid-2022.FILE PHOTO: Federal Reserve Board building is pictured in […]

Business

U.S. stock options traders see smooth sailing as Fed taper looms

FILE PHOTO: Morning sunlight falls on the facade of the New York Stock Exchange (NYSE) building in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/NEW YORK (Reuters) – Options traders are showing little fear that U.S stocks will turn volatile in coming weeks, even as the Federal Reserve appears set […]

Business

Fed report shows wage pressures amid 'modest to moderate' economic growth

(Reuters) -U.S. employers reported significant increases in prices and wages even as economic growth decelerated to a “modest to moderate” pace in September and early October, the Federal Reserve said on Wednesday in its latest compendium of reports about the economy.FILE PHOTO: The Federal Reserve building is set against a blue sky in Washington, U.S., […]

Business

Wall Street rises as earnings whip up risk appetite

(Reuters) -U.S. stock indexes rose on Tuesday as upbeat results from Johnson & Johnson and Travelers fired up risk appetite, after big banks kicked off the third-quarter reporting period on a positive note last week.Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 18, 2021. REUTERS/Brendan […]