Wall Street added to its recent gains Friday with a broad rally that broke the market’s three-week losing streak. The S&P 500 closed 1.5% higher, its third straight increase, and ended with a 3.7% gain for the week. That makes it the benchmark index’s best week going back to July. Big gains for technology companies…
NEW YORK (AP) — A key decision over whether Donald Trump’s social media platform Truth Social will merge with a cash-rich company and get $1.3 billion to take on Twitter has been put off for another month. The potential partner, Digital World Acquisition Corp., on Thursday postponed a shareholder vote to extend by a year…
OMAHA, Neb. (AP) — Major freight railroads, in a bid to apply pressure on unions and Congress, say a strike that could come after a key deadline passes next week would cost the economy more than $2 billion a day and disrupt deliveries of all kinds of goods and passenger traffic nationwide. The Association of…
WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.89% from 5.66% last week. That’s the highest the long-term rate has been…
LOS ANGELES (AP) — Years of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be homebuyers, but new data shows that they’re regaining some leverage at the negotiating table as the housing market slows. An analysis of home sales data by Redfin shows that, on average, U.S. homes purchased during a…
WASHINGTON (AP) — The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment. On Thursday, Chair Jerome Powell suggested that this time, the Fed won’t have…
WARREN, Mich. (AP) — Even though battery costs are rising, auto companies are rolling out more affordable electric vehicles that should widen their appeal to a larger group of buyers. The latest came Thursday from General Motors, a Chevrolet Equinox small SUV with a starting price somewhere around $30,000 and a range-per-charge of 250 miles…
BERLIN (AP) — Europe smashed previous temperature records this summer, with long periods of sunshine causing sweltering conditions and droughts across much of the continent but also helping boost much-needed solar power, according to data published Thursday. The European Commission said average temperatures from June to August were 0.4 degrees Celsius (0.7 degrees Fahrenheit) higher…
WASHINGTON (AP) — The number of Americans filing for unemployment benefits last week fell to its lowest level since May despite repeated attempts by the Federal Reserve to cool the economy and bring inflation under control. Applications for jobless aid for the week ending Sept. 3 fell by 6,000 to 222,000, the Labor Department reported…
DETROIT (AP) — Jeep will start selling two fully electric SUVs in North America and another one in Europe over the next two years. The new EVs, Jeep’s first, are part of the Stellantis brand’s plans to convert half of its U.S. sales and all of its European sales to battery-electric vehicles by 2030. They’re…
