Holiday shopping turned out even better than expected in December as shoppers picked up the pace to close out a strong 2023, the Commerce Department reported Wednesday.Retail sales increased 0.6% for the month, buoyed by a pickup in clothing and accessory stores as well as online non-store businesses. The...
Javier Ghersi | Moment | Getty ImagesCorporate debt defaults soared last year and could be a problem again in 2024 as cash-strapped companies deal with the burden of high interest rates, S&P Global Ratings reported Tuesday.The number of companies that failed to make required payments on their debt totaled...
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022.Al Drago | Bloomberg | Getty ImagesFederal Reserve Governor Christopher Waller acknowledged Tuesday that interest rate cuts are likely this year, but said the central bank can take its...
A customer shops for milk at a grocery store on December 12, 2023 in San Anselmo, California. Justin Sullivan | Getty Images News | Getty ImagesWholesale prices unexpectedly declined in December, providing a positive signal for inflation, the Labor Department reported Friday.The producer price index fell 0.1% for the month...
The U.S. Treasury building in Washington, D.C., on Aug. 15, 2023.Nathan Howard | Bloomberg | Getty ImagesThe U.S. government ran up another half a trillion dollars in red ink in the first quarter of its fiscal year, the Treasury Department reported Thursday.For the period from October 2023 through December...
Prices that consumers pay for a variety of goods and services rose more than expected in December, according to a Labor Department measure Thursday that shows inflation still holding a grip on the U.S. economy.The consumer price index increased 0.3% for the month, higher than the 0.2% estimate at...
Consumers shop at a retail chain store in Rosemead, California, on Dec. 12, 2023.Frederic J. Brown | AFP | Getty ImagesEconomists expect that inflation nudged higher in December, a trend that could call into question the market's eager anticipation that the Federal Reserve will slash interest rates this year.The...
The U.S. labor market closed out 2023 in strong shape as the pace of hiring was even more powerful than expected, the Labor Department reported Friday.December's jobs report showed employers added 216,000 positions for the month while the unemployment rate held at 3.7%. Payroll growth showed a sizeable gain...
A now hiring sign is posted in front of a U-Haul rental center on November 03, 2023 in San Rafael, California.Justin Sullivan | Getty ImagesWhen the December jobs report is released Friday morning, markets will be looking for a number that hits a sweet spot between not so robust...
A worker at a restaurant at Grand Central Market in Los Angeles, California, US, on Thursday, Nov. 2, 2023. Eric Thayer | Bloomberg | Getty ImagesHiring in the private sector rose at a faster than expected pace in December, closing out a strong 2023 for the resilient U.S. jobs market,...