American Eagle Outfitters forecast third-quarter comparable sales above expectations on Wednesday, signaling a demand boost in the fall season from its Sydney Sweeney and Travis Kelce partnerships. Its shares surged 25% after the bell as the company hailed the controversial “Great Jeans” campaign with actress Sydney Sweeney, which included a fall denim collection, as a […]
There are more unemployed Americans than open jobs for the first time since 2021, according to government data released Wednesday. The latest JOLTS report from the Bureau of Labor Statistics showed that the ratio of job vacancies to unemployed workers fell below 1 to 0.99 in July, the lowest since April 2021, when the ratio […]
Holiday spending by U.S. consumers is set for its steepest drop since the pandemic as shoppers — particularly Gen Z — pull back amid economic uncertainty, a PricewaterhouseCoopers survey showed. PwC, which polled about 4,000 U.S. consumers between June and July, said shoppers on average plan to spend about $1,552 per person, down 5.3% from […]
Federal Reserve Governor Lisa Cook’s lawyers blasted President Donald Trump’s move to oust her as based on nothing more than a pack of “cut-and-paste” allegations related to mortgage fraud. In a flurry of court filings Tuesday, Cook’s lawyers emphasized arguments that Trump lacked valid grounds to fire Cook “for cause,” a key issue in her […]
Longer-maturity bonds may be in for a treacherous September, if history is any guide. Over the last decade, government bonds globally with maturities of over 10 years posted a median loss of 2% in September, according to data compiled by Bloomberg. That’s the worst monthly performance of the year. That trend will worry bond investors, […]
The worlds of sports betting and stock trading have never been more closely connected. And bringing these two industries together is one key product: event contracts. In mid-August, Robinhood (HOOD) announced it would begin rolling out event contracts for college and professional football. A day later, sports betting giant FanDuel (FLUT) said it would soon […]
Silver surged above $40 an ounce for the first time since 2011 and gold rose closer to an all-time high as the prospect of Federal Reserve rate cuts gave fresh impetus to the multi-year bull run in precious metal markets. Spot silver rose as much as 2.6% to $40.7599 an ounce — taking gains this […]
Prime Minister Narendra Modi used his first trip to China in seven years to reset relations with India’s powerful neighbor while also seeking to strengthen ties with Russia as President Donald Trump ratchets up tensions with New Delhi. Modi held talks with Chinese President Xi Jinping in Tianjin on Sunday at a regional security and […]
Is it too late to save Fed independence? Last month, I surprised many by suggesting that Jerome Powell should resign as Chairman of the Federal Reserve to protect the policy independence of the world’s most influential central bank. He did not do so. The attacks on the institution have since broadened and deepened, and now, […]
Seniors are bracing for a skimpy increase in their 2026 Social Security benefits, even without all the data that will determine next year’s cost-of-living increase, known as the COLA. The reason: tariffs. Half of retirees are “terrified” about the impact of tariffs on their retirement income or savings, and more than 6 in 10 believe […]
Just when the market was settling on a newfound optimism over coming rate cuts, a fresh dose of inflation worries dampened the mood. A new reading on the Federal Reserve’s preferred inflation gauge inched up for July, but the report also showed that consumer spending picked up last month. The latest inflation data, alongside a […]
A federal appeals court struck down most of President Trump’s Congress-averting global import tariffs Friday in a dispute that’s predicted to head to the US Supreme Court. The 7-4 ruling, issued by 11 judges for the US Court of Appeals for the Federal Circuit in Washington, D.C., allows the tariffs to remain in place while […]
