ECONOMY & MARKETS

Year-over-year, the average number of days homes remained on the market also increased.

The central bank's federal funds rate had been at a 23-year high.

France's budgetary situation is "very serious", Prime Minister Michel Barnier told AFP on Wednesday, saying more information was needed to gauge the "precise reality" of French public finances.

The US Federal Reserve began a two-day interest rate discussion on Tuesday that is all-but-certain to end with its first cut since March 2020, as inflation continues to ease.

Consumer spending remained strong in August as U.S. retail sales beat expectations, lending more credibility to the Federal Reserve's pending reduction in interest rates.

The US economy is at an "important turning point," the top economic advisor to President Joe Biden said Monday, calling for safeguards to be put in place to protect gains made in the labor market, ahead of a key Federal Reserve interest rate decision.

The one thing U.S. economists are counting on this week is a much-anticipated interest rate cut by the Federal Reserve. However, the fallout from Wednesday's expected move is not so certain.

The federal regulatory agency said it carried out 11 enforcement actions in 2024, levying an average fine of $426 million

Shoppers are perceiving more favorable prices and they expect more improvements in the coming year.

The U.S. economy appears to have cleared the final hurdle for the Federal Reserve to reduce interest rates next week with Thursday's data showing wholesale prices on target with projections.

Nearly 80% of American millionaires say that they are "self-made," however only about one third said that they would consider themselves wealthy.

The summer promotion was originally only supposed to be for a month.

While media pundits and undecided voters continue to argue the highs and lows of Tuesday night's presidential debate in Philadelphia, the stock markets are choosing the winners and losers Wednesday on Wall Street.

The popularity of medications including Ozempic and Wegovy has businesses scrambling to adapt to their thinner, less-hungry customers.

Last year's median income was $80,610, up an inflation-adjusted 4% over 2022 and marked the first statistically significant increase since 2019.

The 8.7% increase was the strongest in 18 months and came as imports rose just 0.5%, falling short of expectations as the Chinese economy slows.

The latest Survey of Consumer Expectations showed little difference from a month earlier, with the biggest anticipated price hike involving medical care.

Wall Street ended the week in a sour note Friday on the heels of a disappointing August jobs report and a continued sell-off of technology stocks.

Berkshire Hathaway has sold Bank of America stock in nine consecutive trading sessions, dating back to Aug. 26.

The acquisition will allow Verizon to expand its fiber network across the nation

227,000 people filed new claims last week.

The prospects of American-supplied missiles in Ukraine's war against Russia aren't the only things preparing for launch; U.S. military contractor Lockheed Martin Corp.'s stock price is also blasting off to new heights.

The fall was led by a "historic decline" in sales of in battery-powered electric vehicles (EVs), the VDIK car importers' federation said, which plunged by 68.8 percent to just over 27,000 units.

Stock markets were led lower largely by tech stocks, specifically the producers of microchips.

This week, all eyes are on upcoming US economic data and the Fed's next steps, which could influence global and Gulf markets in the coming days.

It pops up to 41,563.08 points fueled by favorable inflation news from the Commerce Department

Despite concerns about high-interest rates, recent data suggests that the economy remains strong. According to measures from the Conference Board and the University of Michigan, consumer confidence has been improving.

%he personal consumption expenditures (PCE) report due Friday could be key to the Fed's next move on interest rates, with hints that cuts could come as early as September if inflation and job data align.

Dr. Reddy's reported consolidated revenues of ₹7,673 crores (US$ 921 million) for Q1FY25, marking a 14% year-on-year increase and a 8% sequential growth.