ECONOMY & MARKETS

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Federal Reserve chair Jerome Powell said Tuesday that hot US inflation data has lowered his level of confidence that price rises will slow back down towards the bank's long-term target.

The Federal Reserve's multi-year battle with inflation continues to grind on the U.S. economy after Tuesday's data revealed a higher-than-expected increase in the Producer Price Index.

The US central bank should keep interest rates at their current "restrictive" levels until it sees real progress in the fight to lower inflation, a senior Fed official said Monday.

IMF staff have reached an agreement with Argentina on a loan program review that should unlock almost $800 million in much-needed funds for the Latin American country, the Washington-based financial institution said Monday.

Last week's rally followed the previous two weeks' rally and was driven by better earnings from semiconductor giant Taiwan Semiconductor and steady bond yields.

The central government will begin issuing some 30-year bonds on Friday as part of a planned sale of more than $138 billion of debt, according to a notice posted to the ministry's website.

A senior official at the US central bank said Friday that she doesn't expect any interest rate cuts this year following a recent uptick in inflation.

Unemployment claims have risen over the year, perhaps signaling the end of a robust labor market.

Better-than-expected earnings from Amazon and Apple and lower bond yields sent stocks higher last week. These gains added to the momentum for equities that began at the end of the previous week, when Alphabet and Microsoft reported solid earnings, too.

Indonesia's economic growth accelerated in the first quarter of 2024 on the back of election and religious holiday spending, official data showed Monday.

U.S. job growth cooled off in April, which changed the narrative for the U.S economy, but it may not change the game for the Federal Reserve.

U.S. job growth was significantly lower than expected in April, perhaps signaling a reversal in employment trends that have been hurting the Federal Reserve's fight against inflation.

The figures are unlikely to stop the European Central Bank (ECB) from cutting interest rates in June as expected, according to economists despite the growth figure.

Stagflation and the presidential election could put the Federal Reserve in a difficult position at this week's Federal Open Market Operations Committee (FOMC) meeting.

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The S&P 500 closed at 5,099.96, up 2.70% for the week; the Dow Jones at 38,239.66, up 0.70%; the tech-heavy Nasdaq at 15,927.90, up 4.2%%.

It touched 160.17 in morning trade -- its weakest since 1990 -- fanning speculation that Japanese authorities would step in to support their currency for the first time since 2022. But it briefly bounced to 155.05, with Bloomberg reporting that the move suggested investors were weighing the prospect that officials would step in.

Price pressures remained elevated in March, fresh data from the Commerce Department showed Friday, as the personal consumption expenditures (PCE) price index exceeded forecasts.

Trading started on the wrong side for Wall Street bulls on Thursday morning. All major asset categories headed south on worries that the U.S economy is heading into stagflation. That's a situation of slowing economic growth and rising inflation.

Blindsided by a subpar report on U.S. economic growth, Wall Street reacted swiftly and strongly Thursday as all three major indices saw significant declines.

Bitcoin enthusiasts always have myths to defend the digital currency and its peers. One of the myths held in the early days was that Bitcoin is a hedge against inflation, as it isn't subject to the manipulation of central governments.

Argentina's spending-slashing new President Javier Milei has hailed his country's first quarterly budget surplus since 2008 as an "historic achievement."

Inflation for branded essential consumer goods is easing, helping slow down the rising cost of living that has undermined household budgets nationwide, according to Procter & Gamble Company's (P&G) third-quarter earnings report released last Friday.

Bitcoin "halving," and earnings from ASML Holding, Taiwan Semiconductor Manufacturing Co, and Netflix took Wall Street for a wild ride last week, with the CBOE Volatility Index spiking close to 25%.

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Consumer price data released by the U.S. Bureau of Labor Statistics (BLS) shows that car insurance premiums rose at a whopping annual rate of 22.2% in March, well above the 3.5% rise in the Consumer Price Index (CPI).

European Central Bank president Christine Lagarde suggested Tuesday that the regulator could lower interest rates before a similar move by the US Federal Reserve, saying "we are not Fed-dependent."

According to the Consumer Price Index (CPI), a broad measure of the average change over time in the price of a market basket of consumer goods and services, inflation headed in the wrong direction again in March, up rather than down.