US stock markets will close Jan. 9, in observance of a national day of mourning for former President Jimmy Carter.
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Over the last few years, the US economy has consistently defied expectations for a slowdown, and 2024 was no different.
The dollar is headed for its best year in almost a decade as US economic strength reins in expectations for the Fed’s rate-cutting cycle and Donald Trump’s threats of tariffs underpin bullish bets on the currency.
Stocks struggled to gain traction in a quiet post-holiday session, with mixed jobless claims data doing little to alter bets on the Federal Reserve rate outlook.
US equity futures edged higher in muted pre-holiday trading, signaling a subdued open on Wall Street after Monday’s tech-led rally.
The Federal Reserve’s preferred measure of underlying inflation was muted in November, a step in the right direction for policymakers looking to cut interest rates further in 2025.
The US economy expanded at a faster pace in the third quarter than previously estimated, owing in part to to stronger consumer spending and exports.
Federal Reserve officials are likely to lower borrowing costs for a thirdstraight meeting this week while also signaling fewer interest-rate cuts next year than previously projected.
The value of retail purchases, not adjusted for inflation, increased 0.7% after upward revisions to the prior two months, Census Bureau data showed Tuesday.
Data released in the coming week may show the US economy humming along.