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Inflation
Walmart rips again in Q4 but as inflation retreats, so does customer spending per trip
Walmart has reported another quarter of strong results. Its low prices attracted shoppers looking for deals in an economically challenging environment marked by bouts of inflation.
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Home Depot’s strong fourth quarter overshadowed by weakening sales and expectations for 2024
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Nigeria’s currency has fallen to a record low as inflation surges. How did things get so bad?
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Consumer sentiment edges higher as economic growth accelerates and inflation fades
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US wholesale inflation accelerated in January in latest sign that prices picked up last month
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DoorDash, Treehouse Foods fall; Trade Desk, Toast rise, Friday, 2/16/2024
Stocks that traded heavily or had substantial price changes on Friday: DoorDash, Treehouse Foods fall; Trade Desk, Toast rise.
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Stock market today: Wall Street falls to a rare losing week but remains close to its record
Stocks slipped to send Wall Street to a rare losing week, just its second in the last 16. The S&P 500 fell 0.5% Friday after a report on inflation at the wholesale level came in hotter than expected.
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Recession has struck some of the world’s top economies. The US keeps defying expectations
Both Japan and the United Kingdom said Thursday their economies weakened during the final three months of 2023.
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Average long-term US mortgage rate rose this week to 6.77%, highest level in 10 weeks
The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season.
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Retail sales fall 0.8% in January from December as shoppers pause after strong holiday season
Americans pulled back their spending in January after splurging during the holiday season. Retail sales fell 0.8% from the strong pace in December when retail sales were up a revised 0.4%, according to the Commerce Department.
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Shoppers helped keep the economy out of a recession. Now investors hope for even more
NEW YORK (AP) — How much spending power do U.S. shoppers have left?
That’s the key question as big U.S. retailers get set to report their latest quarterly results.
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Kraft Heinz sales dip with some Americans swapping out brand name favorites
Sales slipped during the fourth quarter for Kraft Heinz as some customers, pinched by a bout of inflation, traded down to cheaper brands or did not buy as much.
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UK inflation holds steady at 4% in January as lower food prices help offset higher energy costs
Inflation in the U.K. held steady at 4% in January as lower food prices helped offset an increase in energy costs.
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US inflation slows but remains elevated in sign that price pressures are easing only gradually
Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control.
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Stock market today: Asian shares rise ahead of US inflation report, China closed for holiday
Asian shares are mostly rising in morning trading, as investors watched for the latest indicators on inflation.
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PepsiCo profit gets a bump on fewer charges, but sales slip after repeated price hikes
PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have hit sales.
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Inflation is nearly back to 2%. So why isn’t the Federal Reserve ready to cut rates?
From Wall Street traders to car dealers to home buyers, Americans are eager for the Federal Reserve to start cutting interest rates and lightening the heavy burden on borrowers.
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Turkey’s new central bank chief assures that work to combat inflation will press on
Turkey’s new central bank chief says the work to tame inflation — namely through interest rate hikes — will continue “with determination.”
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Turkey has another new central bank leader. Here’s what it means for the battered economy
Turkey has seen its fifth central bank leader depart in as many years as Hafize Gaye Erkan, the first woman in the top role, stepped down after just eight months in the job.
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Some Americans have become saddled with credit card debt as rent and everyday prices remain high
Noticeable pockets of Americans — renters, and lower- and middle-income borrowers — are running up their credit cards balances, and increasing numbers are falling behind on their debts.
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Fed on track to cut rates this year with inflation slowing and the
economy healthy, Powell says
Chair Jerome Powell said in an interview broadcast Sunday night that the Federal Reserve remains on track to cut interest rates three times this year, a move that’s expected to begin as early as May.
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Average long-term US mortgage rate eases to 6.63%, a welcome move for prospective homebuyers
The average long-term U.S. mortgage rate eased this week, welcome news for prospective homebuyers as the spring homebuying season approaches.
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Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?
Inflation is headed down in Europe. The official figure came in at 2.8% on Thursday. That’s more relief for consumers whose paychecks didn’t go as far after inflation peaked at record-high double digits in 2022.
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Like the US Fed, Bank of England is edging toward interest rate cuts — but not quite yet
Just like the U.S. Federal Reserve, the Bank of England is edging toward cutting interest rates — though not quite yet.
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Stock market today: Asian shares mostly rise after Wall Street rebounds led by tech stocks
Asian shares are trading mostly higher, helped by optimism about technology shares following a Wall Street rally led by big tech stocks.
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Text of the policy statement the Federal Reserve released Wednesday
WASHINGTON (AP) — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:
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Alphabet, Roper Technologies fall; Boeing, Paramount rise, Wednesday, 1/31/2024
Stocks that traded heavily or had substantial price changes on Wednesday: Alphabet, Roper Technologies fall; Boeing, Paramount rise.
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Inflation further cools in Australia as confidence of ‘soft landing’ grows
Australia has reported inflation slowed in the last quarter to its lowest rate in three years, raising hopes of a ‘soft landing’ for the nation’s economy.
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IMF sketches a brighter view of global economy, upgrading growth forecast and seeing lower inflation
The International Monetary Fund has upgraded its outlook for the world economy this year, envisioning resilient growth led by the United States and a slower pace of inflation.
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Inflation has slowed. Now the Federal Reserve faces expectations for rate cuts
Chair Jerome Powell will enter this week’s Federal Reserve meeting in a much more desirable position than he likely ever expected: Inflation is getting close to the Fed’s target rate, the economy is still growing at a healthy pace, consumers keep spending and the unemployment rate is near a half-cen
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Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus
The Federal Reserve’s preferred inflation gauge cooled further even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship.
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Stock market today: Wall Street closes its 12th winning week in the last 13 with a mixed finish
Wall Street closed its latest winning week with a mixed finish, as drops for technology stocks dragged on the market. The S&P 500 slipped 0.1% Friday.
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Turkey’s central bank hikes key interest rate again to 45% to battle inflation
Turkey’s central bank has raised its key interest rate by another 2.5 percentage points. The move was the latest in a series of rate increases aimed at combating inflation that reached nearly 65% in December.
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Nokia sales and profit drop as economic challenges lead to cutback on 5G investment
Nokia has reported a double-digit decline in sales and a fall in profit in the last three months of 2023.
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Stock market today: Asian shares mostly fall despite solid signs of U.S. growth
Asian shares are mostly lower despite upbeat news on the U.S. economy, with Japan’s benchmark falling after the latest data showed inflation has been slowing faster than expected.
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