Wall Street slipped on Monday as wary investors steered clear of risky assets ahead of a key inflation reading and a meeting of the Federal Reserve this week.
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Tag: Federal Reserve
US weekly jobless claims edge higher, Q1 labor costs revised lower
The labor market is cooling but not enough to allay the Federal Reserve’s hesitance to begin cutting interest rates.
Read More US weekly jobless claims edge higher, Q1 labor costs revised lower
Yellen to warn of ‘significant risks’ from use of AI in finance
Treasury Secretary Janet Yellen will warn that the use of AI in finance could lower transaction costs, but carries “significant risks.”
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U.S. job openings drop in April, as labor market cools
Job openings, a measure of labor demand, were down 296,000 to 8.059 million on the last day of April, the lowest level since February 2021.
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Inflation rises moderately in April, consumer spending slows
It is a worrying sign for the Fed, suggesting that the elevated pace of price increases could last longer than expected.
Read More Inflation rises moderately in April, consumer spending slows
Mortgage Demand Drops To 3-Month Low As Interest Rates Increase For First Time In A Month
A key measure of home-buyer applications fell to a three-month low as mortgage rates started to rise again.
Read More Mortgage Demand Drops To 3-Month Low As Interest Rates Increase For First Time In A Month