Big Lots representatives stated on Monday that it has officially filed for Chapter 11 bankruptcy for protection from its massive debts, with the retailer citing “inflation and high interest rates” as reasons for filing.
Read More Big Lots Announces Filing For Chapter 11 Bankruptcy
Job openings across America spiraled down to their lowest level since the beginning of 2021, a very concerning notion that the labor market is cooling.
Read More Report: Job Openings Fall To Lowest Level Since Biden Took Presidency
Wall Street’s stock indexes increased substantially on Friday, with the S&P 500 index climbing towards a record high, after Federal Reserve Chair Jerome Powell said “the time has come” to reduce interest rates.
Read More Dow Surges 400 Points as Wall Street Cheers Powell’s Fed Rate Cut Announcement
The U.S. Federal Reserve will cut interest rates by 25 basis points at each of the remaining three meetings of 2024.
Read More Fed is predicted to deliver three quarter-point rate cuts this year: Reuters poll
Global stocks held steady and government bond yields retreated a touch on Wednesday after data showed U.S. consumer prices rose moderately in July.
Read More Stocks hold firm as US inflation data keep rate cut hopes alive
U.S. inflation rose 2.9% in July last month, versus a year ago, which fell below expectations in a result that likely paves the way for the Federal Reserve to finally begin cutting interest rates next month.
Read More U.S. Inflation Hits 2.9% In July, Opening Possibility For Fed To Start Cutting Rates