Category Archives: Business News

The tariff-driven inflation that economists feared begins to emerge

The tariff-driven inflation that economists feared begins to emerge

WASHINGTON (AP) — Inflation rose last month to its highest level since February as President Donald Trump’s sweeping tariffs push up the cost of a range of goods, including furniture, clothing, and large appliances. Consumer prices rose 2.7% in June from a year earlier, the Labor Department said Tuesday, up from an annual increase of 2.4% in May. Worsening inflation poses a political challenge for Trump, who promised during last year’s presidential campaign to immediately lower costs only to engage in a whipsawed frenzy of tariffs. Trump has declared that the U.S. effectively has no more inflation as he has attempted to pressure Federal Reserve Chair Jerome Powell into cutting short-term interest rates.… Continue Reading

Most US stocks fall, but Nvidia keeps Wall Street near records

Most US stocks fall, but Nvidia keeps Wall Street near records

NEW YORK (AP) — Most U.S. stocks are falling after an update on inflation hurt Wall Street’s hopes for lower interest rates. But indexes are staying close to their records on Tuesday thanks to Nvidia, the market’s most influential stock. The S&P 500 was virtually unchanged and just a bit below its all-time high set on Thursday. The Dow Jones Industrial Average fell 253 points, and the Nasdaq composite rose 0.7% toward another record. Stocks felt pressure from a report showing inflation in the United States accelerated to 2.7% last month from 2.4% in May. That could keep the Federal Reserve from cutting interest rates.… Continue Reading

Wall Street holds near its record amid doubts about Trump’s tariffs

Wall Street holds near its record amid doubts about Trump’s tariffs

NEW YORK (AP) — U.S. stock indexes held near their records following President Donald Trump’s latest updates to his tariffs, as speculation continues that he may ultimately back down on them. The S&P 500 edged up by 0.1% Monday. The Dow Jones Industrial Average added 0.2%, and the Nasdaq composite rose 0.3%. Stock indexes fell in Europe but were mixed elsewhere after Trump announced 30% tariffs on goods from Mexico and the European Union. They won’t take effect until Aug. 1, which leaves time for more negotiations. Treasury yields held steady in the bond market, while bitcoin rallied at the start of Washington’s “Crypto Week.”… Continue Reading

Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners

Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners

BRIDGEWATER, N.J. (AP) — President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1. Trump detailed the planned tariffs Saturday in letters posted to his social media account. It’s a move that could cause massive upheaval between the U.S. and two of its biggest trade partners. European Union Commission President Ursula von der Leyen said the EU may adopt “proportionate countermeasures” if Trump moves ahead with the tariffs. Mexico’s government in a statement described the proposed move by Trump as “unfair treatment.” The letters are part of an announcement blitz by Trump of new tariffs with allies and foes alike, a bedrock of his 2024 campaign that he said would set the foundation for reviving a U.S. economy.… Continue Reading

S&P 500 and Nasdaq composite pull back from their all-time highs

S&P 500 and Nasdaq composite pull back from their all-time highs

Stocks closed lower on Wall Street, pulling the S&P 500 and the Nasdaq composite below the records they set a day earlier. The S&P 500 fell 0.3% Friday. The Dow Jones Industrial Average gave back 0.6%. The Nasdaq composite slipped 0.2%. Levi Strauss jumped 11% after the jeans maker easily beat Wall Street’s sales and profit targets and raised its full-year forecast, despite expecting higher costs from tariffs. European markets closed broadly lower, and Asian markets closed mixed. Treasury yields rose in the bond market. The yield on the 10-year Treasury note climbed to 4.42%.… Continue Reading

Stocks close higher, nudging the S&P 500 and Nasdaq to more highs

Stocks close higher, nudging the S&P 500 and Nasdaq to more highs

Stocks are off to a sluggish start on Wall Street, while Delta Air Lines led a rally in airline stocks after releasing a solid outlook for the rest of 2025. The S&P 500 slipped 0.1% in early trading Thursday. The Dow Jones Industrial Average edged up 55 points, or 0.1%, and the Nasdaq composite fell 0.4%. The Nasdaq, which is heavily weighted with big technology companies, set an all-time high the day before. Cereal maker WK Kellogg soared after agreeing to be acquired by Nutella maker Ferrero Group. Copper prices rose.… Continue Reading

Nutella maker Ferrero plans to buy century-old cereal maker WK Kellogg for $3.1 billion

Nutella maker Ferrero plans to buy century-old cereal maker WK Kellogg for $3.1 billion

Italian confectioner Ferrero, known for brands like Nutella and Kinder, is buying the century-old U.S. cereal company WK Kellogg in a deal valued at approximately $3.1 billion. The Ferrero Group said Thursday it will pay $23 for each Kellogg share. The transaction includes the manufacturing, marketing and distribution of WK Kellogg Co.’s portfolio of breakfast cereals across the United States, Canada and the Caribbean. Kellogg was founded in Battle Creek, Michigan, in 1906. It makes Fruit Loops, Special K, Frosted Flakes and Rice Krispies. The deal still needs the approval of WK Kellogg’s shareholders.… Continue Reading

Gains for tech stocks push Nasdaq to another record

Gains for tech stocks push Nasdaq to another record

A rally in big tech stocks led Wall Street to a higher close, lifting the Nasdaq to another all-time high. The S&P 500 rose 0.6% Wednesday. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite rose 0.9%. Nvidia became the first public company to top $4 trillion in value. Merck rose after announcing it would buy Verona Pharma, a U.K. company that focuses on respiratory diseases. Copper prices eased after spiking a day earlier as President Donald Trump said he would impose 50% tariffs on imports of the metal. Treasury yields slipped in the bond market.… Continue Reading

Wall Street is mixed amid Trump’s new tariff deadlines

Wall Street is mixed amid Trump’s new tariff deadlines

Wall Street ended mixed a day after a broad sell-off in response to the Trump administration setting new tariffs on more than a dozen nations. The S&P 500 slipped 0.1% Tuesday. The Dow Jones Industrial Average fell 0.4%, and the Nasdaq composite was little changed. The sluggish trading came a day after the S&P 500 had is biggest drop since June as President Donald Trump announced a 25% tax on imports from Japan and South Korea and new tariff rates on other nations scheduled to go into effect Aug. 1. The S&P 500 remains near the record it set last week.… Continue Reading

Wall Street falls as Trump pressures trading partners with new tariffs

Wall Street falls as Trump pressures trading partners with new tariffs

Stocks fell on Wall Street as the Trump administration stepped up pressure on trading partners to make deals before punishing tariffs imposed by the U.S. take effect. The S&P 500 lost 0.8% Monday. The Dow Jones Industrial Average gave back 0.9%, and the Nasdaq composite fell 0.9%. Tesla tumbled as the feud between CEO Elon Musk and President Donald Trump reignited over the weekend. Musk, once a top donor and ally of Trump, said he would form a third political party in protest over the Republican spending bill that passed last week.… Continue Reading

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