Tag: Economy
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Stocks remain unsteady on Wall Street amid trade disputes, corporate profit reports
NEW YORK (AP) — Stocks are wavering in unsteady trading Wednesday as Wall Street contends with an escalating trade war and the latest profit reports from big banking and technology companies. The S&P 500 fell 0.1%, reversing course from an early gain of 1.2%. The index is coming off a roller-coaster day where it careened…
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Trump to welcome Argentina’s President Milei as US extends $20 billion lifeline
WASHINGTON (AP) — Argentina’s libertarian leader is lavishing praise on Donald Trump ahead of his first White House meeting with the U.S. president on Tuesday. The effusive declarations are nothing new for Argentinian President Javier Milei — whose dramatic cuts to state spending and attacks on “woke leftists” have won him a following among U.S.…
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US stocks drop toward worst day since April after Trump threatens more tariffs on China
NEW YORK (AP) — A monthslong calm on Wall Street is shattering Friday, and U.S. stocks are falling after President Donald Trump threatened to crank tariffs much higher on China. The S&P 500 sank 2% and was heading toward its worst loss since April. The Dow Jones Industrial Average dropped 598 points, or 1.3%, after…
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Former Bureau of Labor Statistics leaders say Trump’s attacks erode trust in data
President Donald Trump’s attacks on the integrity of the U.S. Bureau of Labor Statistics were undermining trust in economic data and had accelerated retirements of key personnel at the agency, former BLS commissioners said on Wednesday. During a discussion at the libertarian Cato Institute, Erica Groshen and William Beach, who headed the agency under presidents…
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IMF chief warns of sustained economic uncertainty
WASHINGTON — The global economy is holding up better than expected despite major shocks such as President Donald Trump’s tariffs, but the head of the International Monetary Fund says that resilience may not last. “Buckle up,” Managing Director Kristalina Georgieva said in a speech at a think tank Wednesday. “Uncertainty is the new normal and it is here to stay.” Her comments…
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Income of $108K needed for ‘comfortable living’ in Colorado Springs – in Denver it’s even higher
It’s no secret that the ‘cost of living’ in Colorado has been on the rise in recent years, and a recent report from GoBankingRates shows just how expensive life in the Centennial State’s two largest cities has become. The report from GoBankingRates sought to compare the salary needed for ‘comfortable living’ in America’s 50 largest…
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Wall Street gets back to rising as gold keeps setting records
NEW YORK (AP) — U.S. stocks are getting back to rising on Wednesday, while the price of gold is pushing further past $4,000 per ounce. The S&P 500 climbed 0.5% a day after breaking its seven-day winning streak, and it’s on track to top its all-time high set on Monday. The Dow Jones Industrial Average…
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Supreme Court lets Lisa Cook remain as a Federal Reserve governor for now
WASHINGTON (AP) — The Supreme Court on Wednesday allowed Lisa Cook to remain as a Federal Reserve governor for now, declining to act on the Trump administration’s effort to immediately remove her from the central bank. In a brief unsigned order, the high court said it would hear arguments in January over Republican President Donald…
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US government on brink of first shutdown in almost 7 years amid partisan standoff in Congress
WASHINGTON (AP) — A partisan standoff over health care and spending is threatening to trigger the first U.S. government shutdown in almost seven years, with Democrats and Republicans in Congress unable to find agreement even as thousands of federal workers stand to be furloughed or laid off. The government will shut down at 12:01 a.m.…
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Colorado’s fiscal future continues to be clouded by tariffs, revenue drops and recession fears
State economists on Monday presented continuing data that shows a weakened economic outlook for Colorado and continued risks for a near-term recession. The Joint Budget Committee, comprised of six lawmakers from the General Assembly who annually craft the state budget, saw at least some encouraging signs. The committee’s four Democrats lauded last month’s special session,…