Services buoy U.S. consumer spending; inflation pushes higher
WASHINGTON (Reuters) - U.S. consumer spending surged in June as vaccinations against COVID-19 boosted demand for travel-related services, but part of the increase reflected higher prices, with annual inflation accelerating further above the Federal Reserve's 2% target.
U.S. labor costs increase solidly in second quarter
WASHINGTON(Reuters) - U.S. labor costs increased solidly in the second quarter as companies raised wages and benefits to attract workers, supporting views that high inflation could persist beyond this year amid supply constraints.
Fed's Powell bets economy will navigate new coronavirus surge
WASHINGTON (Reuters) - Federal Reserve Chair Jerome Powell's belief that the U.S. economy has "learned to handle" the coronavirus and won't be swamped in a fresh wave of infections or by rising inflation may get tested in coming weeks as schools reopen, supply chains remain clogged, and federal unemployment benefits wane.
Earnings bounce, bond-yield drop help keep party going for U.S. stocks
NEW YORK (Reuters) - A rebound in corporate profits and the recent drop in bond yields are helping to moderate U.S. equity valuations, bolstering the case for owning stocks even as markets stand near records and economic growth is expected to slow.
U.S. consumer sentiment declines in July as inflation remains concern
(Reuters) -U.S. consumer sentiment fell to a five-month low in July amid lingering concerns about inflation, a survey released on Friday showed.
Global bonds in July notch up best month since 2020 COVID meltdown
(Reuters) - Government bonds enjoyed their biggest monthly rally in July since at least March 2020, driven by risks from the COVID-19 Delta variant and central bank assurances that a paring back of monetary support was still far off.
Wall Street falls as Amazon earnings disappoint
(Reuters) -Wall Street's main indexes fell on Friday following a glum quarterly earnings report from Amazon.com, while data showing a strong rise in June consumer spending reinforced optimism about a steady economic rebound.
Take Five: Jobs, crackdowns and a fork
US stocks slip on Amazon earnings, dollar near 1-month low
NEW YORK/LONDON (Reuters) -U.S. stocks dropped on Friday to pull further from record highs as an underwhelming earnings report from Amazon.com Inc dampened the market mood, while the dollar rose a shade but hovered near a one-month low.
Monte dei Paschi capital wiped out in EU banking stress test
LONDON (Reuters) -All of Monte dei Paschi's capital was wiped out in a European Union stress test of banks on Friday as the Italian lender headed for government-sponsored merger talks with domestic peer UniCredit, whose own score fell short of the sector's aggregate performance.