U.S. Secretary of the Treasury Janet Yellen speaks listens to a presentation during a tour at the IRS Processing Facility on September 06, 2024 in Austin, Texas. Brandon Bell | Getty Images Treasury Secretary Janet Yellen sought to reassure the public on Saturday that the U.S. economy remains strong, despite a string of weak job reports that have rattled…
An offshore drilling platform stands in shallow waters at the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia, on Wednesday, Oct. 3, 2018. Simon Dawson | Bloomberg | Getty Images Saudi Arabia has a superpower. Not only is it the largest exporter of crude oil in the world; its production costs for oil projects are also…
Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model. The Trump report found that his plan to permanently extend the 2017…
A wild week of trading on Wall Street ended with the S & P 500 back roughly where it started, but the lessons learned by whipsawed investors over those five days could determine what happens next. The S & P 500 had its worst day since 2022 on Monday, and then its best since 2022 on Thursday. The 10-year…
JPMorgan upped the likelihood it sees for the U.S. economy entering a recession this year, the latest sign of concern around the country’s financial health following the market turbulence this week. The bank raised its probability for a U.S. or global recession to 35% by year end, chief global economist Bruce Kasman told clients in a Wednesday note. That’s…
U.S. Treasury yields rose Thursday as Wall Street assessed weekly jobless claims data that came in below expectations, easing concern from July’s payroll report last week that the labor market was weakening. The yield on the 10-year Treasury was around 3 basis points higher at 3.994%. The yield on the benchmark is near its highest level since last Thursday,…
Pictured here is a McDonald’s store in Yichang, Hubei province, China, on July 30, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — A theme emerging in the latest slew of U.S. companies’ earnings reports is a drag from the China market. The Chinese economy — home to more than four times the population of the U.S. — has…
Treasury yields bounced back on Tuesday as investors closely monitored a reversal of the previous day’s global market sell-off. The yield on the benchmark 10-year Treasury note traded around 11 basis points higher at 3.889% at 3:44 p.m. ET. It comes after the yield on the 10-year Treasury note on Monday fell to its lowest level since June 2023….