ECONOMY & MARKETS

The Nasdaq Composite and the S&P 500 climbed to a fresh record Tuesday following a choppy session after a smattering of mixed earnings and muted Federal Reserve commentary.

The persistence of inflation makes wealthy consumers more price-sensitive, leading them to seek bargains at Walmart, which is gaining an edge over Amazon in shopping convenience.

Over the last 12 months, the S&P 500 has increased 26.30%, the Dow Jones has risen 19.30%, and the Nasdaq index has advanced 31.50%.

Earlier this year, the Dow had flirted with the 40,000 level but retreated in April due to concerns over high interest rates.

Traders and investors liked a report by the U.S. Bureau of Labor Statistics before the market opening, which showed that both headline and core consumer inflation are easing.

The European Commission expects inflation to fall to 2.5 percent in 2024, down from a previous forecast of 2.7 percent -- news that will be welcomed by the European Central Bank (ECB).

Buried under the many investment offerings in the vast financial market is Monetary Metals, a company that offers a unique way for the gold treasure troves of investors to unlock productivity.

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."