Business

In this photo illustration, a silhouetted individual is seen holding a mobile phone with a Sora of ChatGPT OpenAI logo displayed in the background. (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images) (NEW YORK) — The Walt Disney Company on Thursday announced plans to invest $1 billion in artificial intelligence company OpenAI, in a […]

(NEW YORK) — Paramount launched a hostile bid for Warner Bros. Discovery this week, just days after Netflix struck a deal to acquire the legacy media company. The rival multi-billion dollar efforts to purchase streaming platform HBO Max and movie studio Warner Bros., among other assets, could upend the media industry and shape content viewed […]

(WASHINGTON) — The Federal Reserve is set to announce its latest adjustment of interest rates on Wednesday, potentially slashing borrowing costs for the third time this year in an effort to boost sluggish hiring. Top officials at the Federal Reserve have displayed a rare degree of public disagreement over a possible interest rate cut. Inflation […]

(NEW YORK) — Paramount said Monday it is making a bid to acquire Warner Bros. Discovery, swooping in just days after Netflix announced a $83 billion deal to purchase a large part of the media giant. Warner Bros. Discovery (WBD) shareholders would be offered $30 per share, which represents a 139% premium to the stock price as of Sept. […]

(NEW YORK) — Fears of an artificial intelligence bubble have rattled the stock market in recent weeks and set off concern among critics about a wider risk to the U.S. economy. A surge of AI spending accounted for roughly two-thirds of gross domestic product growth over the first half of 2025, JPMorgan Asset Management found, […]

(NEW YORK) — Online shoppers set a record high on Thanksgiving, paving the way for gangbusters performance on Black Friday, Adobe data showed. Digital spending on Thanksgiving jumped 5% from a year earlier, totaling $6.4 billion and exceeding Adobe’s expectations, the firm said. The company also expects Black Friday shoppers to set a new record, […]

(NEW YORK) — Gas prices stand close to their lowest level in four years as tens of millions of people prepare to travel over the Thanksgiving holiday. The national average for a gallon of gas on Monday tallied at $3.07, which amounts to a slight uptick from a year ago, AAA data showed. But gas […]

(NEW YORK) — Blockbuster earnings from chip giant Nvidia this week appeared to rebuke concerns about an artificial-intelligence bubble, briefly ending a days-long slump in the stock market. “It’s fair to say that Nvidia’s results have completely changed the market mood and pushed out any bubble fears for another day,” said Jim Reid, a research […]

(NEW YORK) — Stocks ticked downward in midday trading on Thursday, wiping out a rally earlier in the day driven by blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report. The Dow Jones Industrial Average fell about 60 points, or 0.1%, while the S&P 500 declined 0.2%. The tech-heavy Nasdaq fell 0.3%. Those returns marked a […]

(NEW YORK) — Stocks rallied in early trading on Thursday, just hours after blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report. The Dow Jones Industrial Average jumped nearly 600 points, or 1.2%, while the S&P 500 climbed 1.8%. The tech-heavy Nasdaq soared 2.5%. Shares of Nvidia, the $4.7 trillion juggernaut behind many of the chips […]

(NEW YORK) — Employers hired far more workers than expected in September, defying a sharp slowdown over the summer that appeared to cool off the labor market. The U.S. added 119,000 jobs in September, according to data from the U.S. Bureau of Labor Statistics. That figure marked an acceleration from 22,000 jobs added in the […]

(NEW YORK) — A long-awaited jobs report to be released on Thursday will offer the latest look at the health of the labor market at a fraught moment for the U.S. economy. Hiring slowed sharply over the summer, before a government shutdown paused the release of gold-standard federal data for weeks on end. A stock […]

(NEW YORK) — Chip giant Nvidia exceeded Wall Street expectations for revenue over a recent three-month period, the company said on Wednesday, rebuking fears of an AI bubble that have hammered markets in recent days. The California-based company recorded $57 billion in sales over three months ending in October, which beat analyst expectations of $54.9 […]

(NEW YORK) — Financial results to be released on Wednesday by chipmaking-giant Nvidia will be closely watched as a bellwether for the stock market and the overall economy, which have both come to rely on massive spending on artificial intelligence to propel continued growth. The latest test for the world’s most valuable company arrives at a fraught moment for […]

The Cloudflare logo appears on a smartphone screen and as the background on a laptop computer screen in this photo illustration in Athens, Greece, on October 31, 2025. (Photo by Nikolas Kokovlis/NurPhoto via Getty Images) (NEW YORK) — Web infrastructure company Cloudflare said Tueday it resolved an issue on its network, which had curtailed access […]

The Cloudflare logo appears on a smartphone screen and as the background on a laptop computer screen in this photo illustration in Athens, Greece, on October 31, 2025. (Photo by Nikolas Kokovlis/NurPhoto via Getty Images) (NEW YORK) — Web infrastructure company Cloudflare said it is experiencing problems across its network on Tuesday, curtailing access to […]

Injection pens for the weight-loss treatment Wegovy, manufactured by Novo Nordisk A/S, on display during a news conference in Mumbai, India, on Tuesday, June 24, 2025.(Photographer: Dhiraj Singh/Bloomberg via Getty Images) (NEW YORK) — The cash price for popular weight-loss medications Wegovy and and the medication authorized for people with type 2 diabetes Ozempic are […]

(NEW YORK) — New York City Mayor-elect Zohran Mamdani, a democratic socialist who says he wants to hike taxes on the rich, set off alarm among some critics about a potential exodus of wealthy people bent on keeping their money out of government coffers. As the warning goes, a tax increase at the top could […]

(NEW YORK) — Starbucks baristas are set to walk off the job in dozens of U.S. cities on Thursday, aiming to galvanize public support and pressure the company on “Red Cup Day,” the coffee giant’s annual holiday promotion. More than 1,000 Starbucks workers will go on strike at about 65 stores scattered across states as […]

(WASHINGTON) — The longest government shutdown in U.S. history could end as soon as Wednesday, ultimately putting hundreds of thousands of federal employees back to work, funding food stamps and smoothing out major travel disruptions. The reopening averts a recession that may have come to pass in the event of a prolonged shutdown lasting weeks or months longer, analysts told ABC […]

(NEW YORK) — Stocks closed markedly higher on Monday after the Senate voted hours earlier to advance a potential deal on the government shutdown, which has weighed on economic output and cast uncertainty over markets for well over a month. The Dow Jones Industrial Average closed up 380 points, or 0.8%, while the S&P 500 climbed 1.5%. The tech-heavy […]

(NEW YORK) — President Donald Trump over the weekend vowed to provide each American a $2,000 dividend to be distributed from what he said was tariff revenue. “A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” the president wrote on social media Sunday, in part. Within […]

Traders work on the floor of the New York Stock Exchange (NYSE) on Nov. 7, 2025 in New York City. (Spencer Platt/Getty Images) (NEW YORK) — Stocks rose in early trading on Monday after the Senate voted hours earlier to advance a potential deal on the government shutdown, which has weighed on economic output and cast uncertainty over markets […]

Tesla shareholders awarded CEO Elon Musk a pay package on Thursday that could grant the tech entrepreneur nearly $1 trillion in compensation over the next decade. The pay package would make Musk the best-compensated CEO ever recorded. According to a securities filing in September, Musk would rake in roughly $900 billion over the duration of […]

(NEW YORK) — Exercise equipment company Peloton is voluntarily recalling approximately 833,000 exercise bikes due to a potential issue specific to the bike’s seat post, the company announced Thursday. According to the company announcement, the recall affects “certain Original Series Bike+ models manufactured from December 2019 through July 2022 for sale in the U.S. and […]

(NEW YORK) — Travelers with plans to fly amid the government shutdown are searching for refund policies related to flight delays or cancellations, as well as information on what resources are available to them if a booking is significantly impacted by the continued ripple effects and possible airspace closures. Here’s what travelers facing potential snafus […]

(WASHINGTON) –The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its second interest rate cut this year in an effort to jumpstart the flagging labor market. The widely expected move delivers a lowering of interest rates sought by President Donald Trump, though the size of the […]

(WASHINGTON) — The Federal Reserve on Wednesday will set the level of its benchmark interest rate, adjusting a major policy lever for the first time since a government shutdown sharply restricted the release of gold-standard federal data about the economy. In a rare exception, the U.S. government issued an inflation report last week showing a […]

(NEW YORK) — Amazon is set to lay off thousands of corporate workers, despite billions in profits and lucrative lines of business spanning from e-commerce to cloud computing. The reason is artificial intelligence, the company said in a memo to employees on Tuesday. “Some may ask why we’re reducing roles when the company is performing […]

(NEW YORK) — Prices for home appliances, cars and auto parts could be impacted by President Donald Trump’s decision overnight to end trade talks between the U.S. and Canada, some trade experts told ABC News. Trump said he’s terminating trade negotiations with Canada in response to a negative TV advertisement about tariffs rolled out earlier […]

Stock image of a social security card alongside US dollars. (Tetra Images/STOCK PHOTO/Getty Images) (NEW YORK) — Social security benefits will rise 2.8% starting in January, amounting to an additional $56 per month for 75 million recipients, the Social Security Administration (SSA) said on Friday. The cost-of-living adjustment for 2026, known as COLA, came in […]

(NEW YORK) — Consumer prices rose 3% in September compared to a year ago, extending a monthslong uptick that has sent inflation to its highest level since January, government data on Friday showed. The reading came in lower than economists’ expectations. The fresh data marked a slight increase from a 2.9% year-over-year increase recorded a […]

(NEW YORK) — Car buyers may face elevated prices and a shortage of some vehicles due to a supply chain snarled by tariffs and challenges accessing crucial materials, some industry experts told ABC News. A shortage of aluminum halted production at plants operated by Jeep and Ford earlier this month, pausing the output of some […]

(NEW YORK) — With new tariffs taking effect Tuesday on furniture and lumber, an analysis released by Goldman Sachs finds American consumers are paying for more than half of the cost of the levies imposed by President Donald Trump. In a research note to its clients, the global investment and banking giant said U.S. consumers […]

(NEW YORK) — Consumer sentiment soured in October as a government shutdown threatens to weaken a wobbly economy beset by an uptick in inflation and a sharp slowdown of hiring, fresh data on Friday showed. The reading marked a decrease from the previous month but it came in higher than economists expected. Shopper attitudes have worsened for […]

(WASHINGTON) — The government shutdown halted the release of key economic data, choking off the flow of information as some experts warn the economy may be slipping toward a recession, some economists told ABC News. A federal agency postponed the release of a monthly jobs report on Friday, leaving observers in the dark about the […]

Matteo Colombo/Getty Images (NEW YORK) — Stocks closed higher on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse. The Dow Jones Industrial Average jumped 43 points, or 0.09%, while the S&P 500 climbed 0.34%. The tech-heavy Nasdaq increased 0.42%. The Dow and S&P 500 […]

Matteo Colombo/Getty Images (NEW YORK) — Stocks ticked higher in midday trading on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse. The Dow Jones Industrial Average jumped 71 points, or 0.15%, while the S&P 500 jumped 0.1%. The tech-heavy Nasdaq increased 0.1%. The uptick […]

Matteo Colombo/Getty Images (NEW YORK) — Stocks dropped in early trading on Wednesday, just hours after a government shutdown began, shuttering some government services and complicating a delicate moment for the nation’s economy. The Dow Jones Industrial Average fell 87 points, or 0.1%, while the S&P 500 slid 0.4%. The tech-heavy Nasdaq declined 0.6%. The […]

(WASHINGTON) — President Donald Trump on Thursday announced an agreement that will pave the way for social media giant TikTok to come under the control of a group of U.S. investors. The move comes months after a ban on the China-based app was set to take effect at the outset of this year. Instead, Trump […]

(NEW YORK) — The U.S. economy expanded significantly more than initially estimated over a recent three-month period, suggesting robust growth despite uncertainty set off by President Donald Trump’s tariff policy, federal government data on Thursday showed. The U.S. economy grew at an annualized rate of 3.8% in the second quarter in the government’s final estimate, besting a 3.3% rate […]

A close-up of a Starbucks coffee shop sign on September 8, 2025 in Cardiff, Wales. (Photo by Matthew Horwood/Getty Images) (NEW YORK) — Coffee giant Starbucks will lay off workers and close stores as part of a $1 billion restructuring plan, CEO Brian Niccol said in a memo to employees on Thursday. The company will […]

(WASHINGTON) — Federal Reserve Chair Jerome Powell warned a recent uptick of inflation, alongside a hiring slowdown, poses a “challenging situation” for central bankers as they aim to steer the U.S. economy through a “turbulent period.” The Fed, which opted to cut interest rates last week, is guided by a dual mandate to keep inflation […]

(NEW YORK) — The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its first interest rate cut this year in an effort to revive the flagging labor market. The central bank delivered a policy long-sought by President Donald Trump, though the size of the rate cut […]

(NEW YORK) — The Federal Reserve on Wednesday is set to unveil its latest decision on the level of interest rates, hoping to guide the economy through a topsy-turvy stretch of slow hiring and rising inflation. The high-stakes announcement marks a flashpoint in the monthslong pressure campaign directed at the Fed by President Donald Trump. […]

(WASHINGTON) — Twelve policymakers at the Federal Reserve are set to take a high-stakes vote this week on the nation’s benchmark interest rate, attempting to steer the economy through a stormy bout of slow hiring and rising inflation. In a highly unusual circumstance, however, two of the policymakers stand in limbo – uncertain if they […]

(NEW YORK) — Mortgage rates have fallen rapidly in recent months, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase. The average interest rate on a 30-year fixed mortgage stands at 6.35%, dropping from 6.5% over the week ending on Thursday, which amounted to the largest one-week drop […]

(NEW YORK) — Consumer prices rose 2.9% in August compared to a year ago, marking an uptick in price increases as President Donald Trump’s tariff policy intensified. The reading matched economists’ expectations. The fresh inflation data indicated an acceleration from a 2.7% inflation rate recorded in the month prior, according to the U.S. Bureau of […]

lvcandy/Getty Images (NEW YORK) — Wholesale prices unexpectedly dropped in August, clocking in lower than economists expected and defying concerns about a tariff-induced spike in costs suffered by suppliers. Producer prices fell 0.1% in August, rolling back some of a sharp increase in wholesale prices that took hold in the previous month, the U.S. Bureau of Labor Statistics said […]

(NEW YORK) — U.S. employers added far fewer jobs in 2024 and early 2025 than previously thought, indicating the labor market may have been significantly weaker than initial estimates had suggested. The U.S. economy added 911,000 fewer jobs over the 12 months ending in March than previously estimated, the U.S. Bureau of Labor Statistics (BLS) […]

(NEW YORK) — Employers in nearly every industry have cut back on hiring, according to the latest data, leaving job seekers with fewer places to turn. A recent jobs report extended a lackluster run of labor data that stretches back to the beginning of the summer. While the unemployment rate stands at a historically low […]

(WASHINGTON) — Fresh jobs data on Friday showed a continued hiring slowdown in the first such release since a dismal jobs report last month prompted President Donald Trump to fire the top official tasked with compiling labor statistics. The reading fell well short of economists’ expectations. The U.S. added 22,000 jobs in August, according to data from the U.S. […]

(NEW YORK) — The price of gold topped $3,500 per ounce for the first time ever on Tuesday, reaching toward new record highs as trading stretched into midday. Gold prices have soared 35% so far this year, far outpacing a 9% gain in the S&P 500. Over that period, the Dow Jones Industrial Average has jumped 6% […]

(WASHINGTON) — A tariff loophole for low-cost shipments helped fuel an explosion of U.S. consumers purchasing shoes, sunglasses and a host of other items directly from sellers overseas. The Trump administration closed that exemption on Friday, bringing the era of duty-free online buying to an end. President Donald Trump closed what’s known as the “de […]

(WASHINGTON) — Federal Reserve Governor Lisa Cook sued President Donald Trump on Thursday over his move to fire her, saying she should retain her position as a top policymaker at the central bank. The lawsuit, filed in U.S. District Court for the District of Columbia, describes Trump’s effort as “illegal and unprecedented,” claiming Cook’s ouster […]

(NEW YORK) — Chip giant Nvidia delivered more revenue than expected over a recent three-month period, the company said on Wednesday, defying concern among some prominent figures about a possible bubble in the artificial intelligence industry. The California-based company recorded $46.7 billion in sales over three months ending in July, which exceeded analyst expectations of […]

(NEW YORK) — An earnings report to be released by chip giant Nvidia on Wednesday will offer a window into the health of the artificial intelligence (AI) industry, which in recent years has become a key engine for stock market gains and economic growth. Nvidia, the $4 trillion company behind many of the chips fueling […]

(NEW YORK) — Consumer confidence worsened slightly in August, erasing some gains from the previous month and resuming a downward trend suffered at the outset of 2025, the Conference Board said on Tuesday. The souring of shopper attitudes followed a weak jobs report and a set of sweeping new tariffs issued by President Donald Trump. A lower-than-expected inflation […]

(NEW YORK) — Elon Musk-owned xAI on Monday sued tech giants Apple and OpenAI over an alleged scheme to illegally dominate the artificial intelligence industry through a collaboration that equipped iPhones with AI tools. The exclusive agreement between the world’s largest smartphone producer and a top AI firm effectively shut other AI companies out of […]

(NEW YORK) — The United States and European Union on Thursday released new details of their trade agreement, including tariff levels for consumer staples like pharmaceuticals and autos. Prior to the agreement last month, the European Union faced the prospect of a 30% tariff rate. Instead, products from one of the largest U.S. trade partners will be […]

(NEW YORK) — SpaceX’s Starship is about to face its 10th test flight following explosions on previous launches.  SpaceX CEO Elon Musk has promised that the world’s most powerful rocket and spacecraft will one day take humans to Mars and beyond. But leading up to its 10th launch, scheduled for Sunday at 7:30 p.m. ET, […]

(NEW YORK) — Target CEO Brian Cornell will step down early next year after more than a decade at the helm of the $107 billion retail giant, the company said on Wednesday. In recent years, Target has suffered sluggish sales as the company weathered consumer boycotts over its Pride collection and a rollback of its diversity, equity and […]

(NEW YORK) — Consumer sentiment worsened in August, snapping two consecutive months of improved attitudes among shoppers as President Donald Trump imposed sweeping new tariffs on nearly 70 countries. The fresh reading fell short of economists’ expectations. The dampening of shopper attitudes returns the measure to a months-long downturn that took hold after Trump took […]

(NEW YORK) — A fresh report on consumer sentiment on Friday will show how shoppers digested a cascade of economic developments this month, including President Donald Trump’s firing of a top labor statistics official hours after the release of weak jobs data. The report, which details shopper attitudes in August, is set to arrive days after an inflation reading came […]

(NEW YORK) — The labor market slowed sharply this summer, leaving job applicants with fewer places to turn for a new position. Employers added an average of about 35,000 jobs over three months ending in July, which marks a major slowdown from roughly 128,000 jobs added monthly over the prior three months, the U.S. Bureau of Labor Statistics said […]

(WASHINGTON) — Consumer prices rose 2.7% in July compared to a year ago, clocking in lower than economists expected and holding steady from the previous month. The reading defied fears of further price increases as result of President Donald Trump’s tariffs. The inflation report is the first major data release from the U.S. Bureau of […]

(WASHINGTON) — Policymakers and business leaders will closely watch the release of inflation data on Tuesday, marking the latest look at price increases as the economy risks a tariff-induced rise of inflation. The inflation report is the first major data release from the U.S. Bureau of Labor Statistics (BLS) since Trump fired the agency’s commissioner […]

(WASHINGTON) — AI chipmakers Nvidia and Advanced Micro Devices struck an extraordinary accord to pay the United States government 15% of the revenue the two companies are set to make from products sold in China, a White House official confirmed to ABC News. In exchange for the payment, the Trump administration will grant the companies […]

(NEW YORK) — Weak jobs data came out hours before President Donald Trump fired the head of labor statistics. A report on gross domestic product indicated a slowdown of growth over the first half of the year. A sweeping round of tariffs hit nearly 70 countries. These events — all since last week — prompted […]

Justin Sullivan/Getty Images (WASHINGTON) — President Donald Trump called on the CEO of Intel, Lip-Bu Tan, to resign “immediately.” “The CEO of INTEL is highly CONFLICTED and must resign, immediately. There is no other solution to this problem. Thank you for your attention to this problem!” the president wrote on his social media platform. Trump […]

(NEW YORK) — OpenAI on Thursday released GPT-5, unveiling a new version of the artificial intelligence model that fuels popular chatbot ChatGPT. The product will be made immediately available to users, including customers who use the company’s cost-free options, OpenAI said. The announcement comes days after the company said ChatGPT is set to reach 700 […]

(WASHINGTON) — President Donald Trump’s sweeping new tariffs finally took effect on Thursday, slapping levies on dozens of countries and risking price increases for a host of everyday goods. Tariffs between 10% and 41% were applied to nearly 70 countries beginning at 12:01 a.m. Thursday, significantly expanding the reach of Trump’s confrontational trade policy. “IT’S […]

Jon Hobley | MI News/NurPhoto via Getty Images (ST. LOUIS) — About 3,200 union members at Boeing facilities in Michigan and Illinois went on strike at midnight on Monday after rejecting an contract offer from the company, the union said. Local members of the International Association of Machinists and Aerospace Workers, who build and maintain […]

Anthony Devlin/Getty Images (MIAMI) — ABC began broadcasting with a new local affiliate in Miami on Monday, just months after Disney Entertainment struck an agreement with Sunbeam Television Corporation. Under the deal established in March, ABC Miami will broadcast ABC’s national sports, news and entertainment programming over-the-air on Channel 7.2 in the Miami-Fort Lauderdale television […]

(NEW YORK) — Hiring slowed in July as President Donald Trump’s tariffs pinched the balance sheets of some major companies and reshaped the nation’s trade relationships. The reading fell short of economists’ expectations. The U.S. added 73,000 jobs in July, according to data from the U.S. Bureau of Labor Statistics, or BLS. That figured marked a slowdown […]

(NEW YORK) — Hiring slowed in July as President Donald Trump’s tariffs pinched the balance sheets of some major companies and reshaped the nation’s trade relationships. The reading fell short of economists’ expectations. The U.S. added 73,000 jobs in July, according to data from the U.S. Bureau of Labor Statistics, or BLS. That figured marked a slowdown […]

(NEW YORK) — U.S. stocks tumbled in early trading on Friday, just hours after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as Trump’s previous tariffs took hold. The Dow Jones Industrial Average dropped 615 points, or 1.3%, […]

(WASHINGTON) — President Donald Trump on Thursday sharply criticized India over its trade policy, escalating a series of attacks as the White House readies to ratchet up tariffs on the country. The Trump administration plans to slap 25% tariffs on Indian products and impose additional penalties starting on Friday, the president said on social media. The incendiary rhetoric toward […]

(WASHINGTON) — The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump made an unusual visit to the central bank, calling for a rate cut. The central bank has defied Trump’s public criticism for months, adopting a wait-and-see approach as central bankers observe the effects of tariffs. “Uncertainty about the […]

(WASHINGTON) — The U.S. economy expanded more than expected as President Donald Trump’s tariffs took hold over recent months, federal government data on Wednesday showed. U.S. gross domestic product, or GDP, increased at a 3% annualized rate over three months ending in June. The figure marked a sharp acceleration from an annualized contraction of -0.5% […]

(NEW YORK) — President Donald Trump unveiled a trade agreement with the European Union on Sunday, making it the latest in a series of accords as the White House threatens to slap tariffs on dozens of countries this week. Prior to the agreement, the European Union faced the prospect of a 30% tariff rate set to take effect Aug. 1. Instead, […]

(NEW YORK) — President Donald Trump’s tariffs cost German auto giant Volkswagen about $1.5 billion over the first half of 2025, the company said on Friday. Sales in North America plunged 16% due primarily to U.S. tariffs, said Volkswagen, which owns a host of brands including Audi, Lamborghini and Porsche. The company warned of further “challenges” that will arise […]

(WASHINGTON) — President Donald Trump is set to visit the Federal Reserve on Thursday, ratcheting up pressure on the central bank after his repeated calls for lower interest rates. It marks the first official trip to the Fed taken by a sitting president in almost 20 years. The extraordinary move comes roughly a week after […]

(WASHINGTON) — President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days. Before the deal, Japan faced the prospect of a 25% tariff rate set to take effect Aug. […]

(NEW YORK) — President Donald Trump’s tariffs are costing Jeep maker Stellantis hundreds of millions of dollars, the company said Monday. The giant carmaker expects to have suffered nearly $350 million in losses over the first half of 2025 due to direct tariff payments as well as a loss of planned production on account of […]

(NEW YORK) — Consumer sentiment ticked higher in July, marking two consecutive months of improved shopper attitudes as businesses navigated President Donald Trump’s latest tariff threats targeting dozens of countries. The fresh reading matched economists’ expectations. The recent resurgence of consumer sentiment followed six straight months of worsening attitudes, according to University of Michigan survey data released Friday. Before the […]

(WASHINGTON) — Private spaceflight is transforming from joy rides for billionaires into a gateway for nations to establish their space presence, one expert says, as the latest Axiom Space mission returned to Earth on Tuesday. The mission marked a historic moment for India, Poland and Hungary, who sent astronauts to the International Space Station (ISS) […]

(NEW YORK) — Stocks were mixed in early trading on Monday after President Donald Trump over the weekend issued 30% tariffs on the European Union and Mexico, rekindling tensions with two of the largest U.S. trade partners and threatening to raise consumer prices. The Dow Jones Industrial Average dropped 115 points, or 0.26%, while the […]

(WASHINGTON) — President Donald Trump has posted two letters on his social media platform announcing new tariffs on the European Union and Mexico that will take effect on Aug. 1. Trump will impose a 30% tariff on Mexico due to fentanyl crossing the border, he said in a letter to Mexican President Claudia Sheinbaum. “Mexico […]

(WASHINGTON) — President Donald Trump ratcheted up tariffs on Canada late Thursday, stoking tensions with a top U.S. trade partner as the two sides try to hash out a trade agreement by the end of the month. The Dow Jones Industrial Average tumbled 250 points, or 0.5%, in early trading on Friday, erasing some of the index’s gains in […]

(NEW YORK) — Linda Yaccarino said she is stepping down from her role as CEO of X, the social media platform owned by Elon Musk. Yaccarino, who previously served as an advertising executive at NBCUniversal, took the helm of X two years ago. In post on X announcing her departure, Yaccarino thanked Musk for the […]

(WASHINGTON) — Stocks closed down significantly on Monday after President Donald Trump announced steep tariffs on seven countries and threatened to impose new levies on others. The Dow Jones Industrial Average closed down 422 points, or 0.9%, while the S&P 500 dropped 0.7%. The tech-heavy Nasdaq declined 0.9%. Tesla, the electric-vehicle company led by tech billionaire Elon Musk, fell […]

(WASHINGTON) — President Donald Trump on Monday will sign an executive order delaying steep levies on dozens of countries that were set to take effect on Wednesday, the White House said. Trump’s so-called reciprocal tariffs will now take effect on Aug. 1, White House press secretary Karoline Leavitt told reporters. Minutes earlier, Trump announced 25% […]

(NEW YORK) — Gas prices are hovering near their lowest summer level in four years as millions of people ready themselves to hit the roads over the Fourth of July holiday weekend. The national average for a gallon of gas on Thursday stood at $3.16, which amounts to a nearly 10% decline from a year ago, AAA data showed. Gas […]

(NEW YORK) — Hiring surged in June as businesses navigated uncertainty surrounding President Donald Trump’s tariffs, federal government data on Thursday showed. The reading exceeded economists’ expectations. The U.S. added 147,000 jobs in June, according to data from the U.S. Bureau of Labor Statistics. That figure showed a slight increase from 139,000 jobs added in […]

(NEW YORK) — The United States dollar is suffering its worst start to a year in more than five decades, likely triggering a price hike for some everyday items and a jump in expenses faced by travelers abroad, some analysts told ABC News. The greenback has fallen more than 10% in value this year relative […]

(WASHINGTON) — Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates. When asked on Tuesday about a possible interest rate cut at the Fed’s […]

(NEW YORK) — A bankruptcy court this week approved the $305 million sale of genetics testing firm 23andMe to a nonprofit organization led by the company’s former CEO Anne Wojcicki, the company announced. The 23andMe bankruptcy earlier this year elicited fears about the security of genetic data belonging to the company’s roughly 15 million customers. […]

Matteo Colombo/Getty Images (NEW YORK) — The S&P 500 hit an all-time record high on Friday, extending breakneck gains achieved in recent weeks as investors shrugged off concerns about newly imposed tariffs and war in the Middle East. The S&P 500 climbed 0.3%, clocking in for the first time ever at 6,156. Over the past […]

(NEW YORK) — The stock market has been on a tear in recent weeks, shrugging off newly imposed tariffs, caution at the Federal Reserve and war in the Middle East. The S&P 500 has soared 20% since an April low suffered after President Donald Trump’s “Liberation Day” tariff announcement. Over that period, the tech-heavy Nasdaq […]

(NEW YORK) — Nearly two million student loan borrowers are at risk of having their wages garnished next month, credit-reporting agency TransUnion said on Tuesday. Fresh data shows a sharp increase in the number of delinquent student loan borrowers in recent months, following the end of a pandemic-era pause on student debt payments. Student loan borrowers are considered delinquent if they […]

(NEW YORK) — Consumer confidence soured in June, erasing some of the boost in shopper attitudes that took hold last month as President Donald Trump rolled back tariffs, Conference Board data on Tuesday showed. The reading fell short of economists’ expectations. The fresh data resumes a trend of worsening consumer confidence that stretches back to […]

SOPA Images/LightRocket via Getty Images (NEW YORK) — A group of cybercriminals hacked into data systems at insurance company Aflac, possibly gaining access to sensitive information such as Social Security numbers and health reports, the company said on Friday. Aflac, which boasts millions of customers, “identified suspicious activity” and “stopped the intrusion within hours,” the […]

(NEW YORK) — The Senate voted 68-30 late Tuesday to pass the GENIUS Act, a bill that aims to regulate some cryptocurrencies. The bill faced some Democratic opposition over President Donald Trump’s cryptocurrency ventures, but it ultimately garnered support from 18 Democrats, including Sens. Cory Booker, D-N.J., and Adam Schiff, D-Calif. The industry-backed measure establishes […]

(NEW YORK) — Oil prices fell and stocks closed higher on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict. The Dow Jones Industrial Average closed up 317 points, or 0.7%, erasing much of the losses suffered on Friday as back-and-forth strikes broke out between the two countries. The S&P 500 […]

(NEW YORK) — The Trump Organization on Monday announced a mobile phone service and a Trump-branded smartphone, extending the family real estate company into the vast U.S. telecom market. The announcement arrives exactly 10 years after the launch of President Donald Trump’s first presidential campaign, and it features a monthly mobile plan priced at $47.45, […]

(NEW YORK) — Oil prices fell and stocks climbed in early trading on Monday, indicating optimism among investors about the limits of economic fallout from the ongoing Israel-Iran conflict. The Dow Jones Industrial Average surged 415 points, or 1%, erasing much of the losses suffered on Friday as back-and-forth strikes broke out between the two countries. The S&P […]

(NEW YORK) — Oil prices surged and stocks slumped on Friday morning in the immediate hours after Israel began an attack on Iran targeting nuclear sites and senior military officers. The strike stoked concern among investors about a possible wider conflict across the Middle East, which accounts for a large share of global oil production. The U.S. West Texas […]

(LONDON) — The Nintendo Switch 2 is off to a turbo-charged start, thanks to a little help from Mario and his friends in Mario Kart World, smashing its own sales record by becoming the fastest selling Nintendo game system ever with more than 3.5 million units sold in just four days. Nintendo sold an estimated […]

(WASHINGTON) — The U.S. Consumer Price Index released on Wednesday showed May inflation ticking slightly higher, rising 2.4%, in line with expectations. The report amounted to the latest test for President Donald Trump’s tariffs as some retailers and economists warn the policy will raise prices. So far, the economy has defied fears of price hikes, […]

(WASHINGTON) — A fresh inflation report to be released on Wednesday will provide the latest test for President Donald Trump’s tariffs as some retailers and economists warn the policy will raise prices. So far, the economy has defied fears of price hikes, instead giving way to a cooldown of inflation over the months since Trump […]

(NEW YORK) — A feud between President Donald Trump and Tesla CEO Elon Musk hammered shares of the electric carmaker on Thursday, before a lull in the acrimony on Friday prompted a recovery of some losses. Still, as of midday Friday, shares had dropped nearly 10%, wiping out tens of billions of dollars in company […]

(NEW YORK) — The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed. Trump touted the tariffs as an effort to slash the nation’s trade deficit, which the president has said he considers a threat […]

(WASHINGTON) — A digital asset company has collaborated with the firm behind President Donald Trump’s $TRUMP meme coin to launch what it’s calling the “Official $TRUMP Wallet” — but the president’s sons, who run Trump’s crypto businesses, say they have no involvement with the offering. In a post on X Tuesday, Jack Lu, the CEO […]

(NEW YORK) — Executives at major corporations, including Target, Goldman Sachs and Pepsi, have invoked the same one-word boogeyman on recent earnings calls: “Uncertainty.” Concern among companies big and small about the unsteady business environment has centered on President Donald Trump’s tariff policies, which the White House has altered numerous times since Trump took office. […]

(NEW YORK) — The United States’ economic growth forecast was cut sharply on Tuesday by the Organization for Economic Co-operation and Development, or OECD, which attributed the gloomy outlook in part to tariffs issued by President Donald Trump. The OECD expects the U.S. economy to grow 1.6% in 2025, marking a substantial reduction from a 2.2% expansion forecast in […]

(WASHINGTON) — Price increases could hit canned soup, dishwashers, cars and an array of other products as a result of President Donald Trump’s planned hike of steel and aluminum tariffs, experts told ABC News. The tariff escalation, set to take effect on Wednesday, ratchets up a tax on all foreign steel and aluminum from 25% to 50%. The […]

(NEW YORK) — Snapchat influencer Caryn Marjorie arrives at the ABC News headquarters in New York City carrying a shopping bag from Apple. She pulls out a brand-new iPhone and turns it on, confirming there are no messages, no missed calls, no notifications. “Do you want to see a magic trick?” she asks. Marjorie’s team […]

(NEW YORK) — Stocks closed higher on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners. A federal appeals court moved to temporarily reinstate the tariffs on Thursday afternoon, however, leaving the ultimate fate of the policy uncertain. The Dow […]

(NEW YORK) — Stocks were mixed on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners. The Dow Jones Industrial Average fell 25 points, or 0.06%, while the S&P 500 increased 0.3%. The tech-heavy Nasdaq climbed 0.6% The ruling from […]

(NEW YORK) — Stocks surged at the open of trading on Thursday after a panel of federal judges blocked President Donald Trump from slapping some of his far-reaching tariffs on China and other major U.S. trading partners. The Dow Jones Industrial Average jumped 55 points, or 0.1%, while the S&P 500 increased 0.8%. The tech-heavy […]

(NEW YORK) — Macy’s slashed its full-year profit forecast on Wednesday, attributing the downbeat expectations in part to tariffs imposed by President Donald Trump. The New York-based retail chain is the latest major company to warn of ill effects from the levies, including Target, Walmart and Nike. Macy’s downgraded its expectations for adjusted earnings per […]

(NEW YORK) — The GENIUS Act, a cryptocurrency regulation bill making its way through the Senate, has thrust a little-known type of digital asset into the spotlight. The industry-backed measure establishes rules targeting stablecoins, a form of cryptocurrency pegged to the value of another asset, often the U.S. dollar. If enacted, the bill could allow […]

(NEW YORK) — Consumer confidence improved more than expected in May, ending a monthslong stretch of worsening consumer attitudes as President Donald Trump’s tariffs set off company warnings about price increases even after the president eased his policy. The reading of brightened consumer sentiment snapped five consecutive months of decline, which had brought the Conference […]

Buying a Tesla has become a bit more complicated in the past year. The company’s Model Y and Model 3 continue to be the best-selling electric vehicles in the U.S., accounting for more than 40% of all EVs sold last year, according to Cox Automotive data. But Tesla’s stronghold on the EV market is slipping. […]

(WASHINGTON) — Despite repeated claims from the White House that President Donald Trump’s Thursday night gala for the top holders of his cryptocurrency meme coin had nothing to do with his official duties, several of those investors visited the White House Friday afternoon for what they described as a special VIP event, the attendees told […]

(WASHINGTON) — President Donald Trump has disrupted global trade and roiled markets in an effort to bring manufacturing jobs back to the U.S. Some of his top tech allies, however, have backed ventures that replace human workers with robots. Elon Musk, a top donor and adviser to Trump, has touted humanoid robots as a future […]

(NEW YORK) — Stocks tumbled in early trading on Friday after President Donald Trump threatened new tariffs targeting tech giant Apple and the European Union. The Dow Jones Industrial Average dropped 458 points, or 1.1%, while the S&P 500 declined 1.2%. The tech-heavy Nasdaq dropped 1.6%. Shares of Apple fell nearly 3% at the open […]

(NEW YORK) — Bitcoin surged to a record high on Thursday, vaulting more than 3% in early trading and hurtling past $110,000 for the first time. The price of bitcoin stood at $111,385 on Thursday, extending a sharp rise that stretches back to the November election of President Donald Trump, a cryptocurrency supporter and investor. Ether, the second-largest […]

Photo by Jaque Silva/NurPhoto via Getty Images (NEW YORK) — Stocks closed down significantly on Wednesday as bond yields spiked amid deficit concerns centered on a tax cut measure under consideration in the U.S. House as part of a megabill supporting President Donald Trump’s second-term agenda. The Dow Jones Industrial Average closed down 817 points, or 1.9%, […]

(WASHINGTON) — If this past weekend in European politics is an indicator of anything, it’s that the “Trump effect” is real, and its reverberations are unpredictable. Three European Union countries held elections on Sunday — Romania, Poland and Portugal — with the results failing to show any clear trend for the future of European politics. […]

Matteo Colombo/Getty Images (NEW YORK) — Stocks slumped at the open of trading on Monday after a downgrade of U.S. credit triggered a spike in debt yields that threatened to raise borrowing costs throughout the nation’s economy. The Dow Jones Industrial Average dropped 295 points, or 0.7%, while the S&P 500 fell 0.9%. The tech-heavy […]

(NEW YORK) — Consumer attitudes soured in May for the fourth consecutive month, even as President Donald Trump dialed back some tariffs. The reading came in below the level economists expected. Shopper sentiment now hovers near its lowest level since a severe bout of inflation three years ago, University of Michigan survey data on Friday showed. Before that, the […]

(NEW YORK) — Inflation cooled in the aftermath of President Donald Trump’s “Liberation Day” levies last month, dropping to a four-year low and defying fears of tariff-driven price hikes, government data this week showed. Even egg prices — a symbol of rising costs — fell about 10% in April compared to the previous month. Still, […]

(WASHINGTON) — Consumer prices rose 2.3% in April compared to a year ago, cooling slightly from the previous month and defying fears of an inflation surge in the aftermath of President Donald Trump’s “Liberation Day” tariffs last month. The reading — which marked the lowest inflation rate since 2021 — matched economists’ expectations. Egg prices […]

(WASHINGTON) — The race to win tickets to an exclusive crypto dinner gala with President Donald Trump at his private golf club in Virginia on May 22 ended with top 220 holders of the Trump meme coin winning invitations to the black tie gala, the coin’s official X account announced Monday. A “leaderboard” of the […]

(NEW YORK) — U.S. stocks soared at the open of trading on Monday, just hours after the U.S. and China announced an agreement to slash tariffs for 90 days as the world’s two largest economies negotiate a wider trade deal. The Dow Jones Industrial Average climbed 1,005 points, or 2.4%, while the S&P 500 jumped […]

(NEW YORK) — A carousel ride and 12 flavors of fudge await shoppers at LARK Toys, a family-owned toy shop outside Minneapolis, Minnesota. The glee on offer belies the stress behind the counter as President Donald Trump’s 145% tariffs on China, which are set to trigger price increases and product shortages within a matter of […]

(WASHINGTON) — President Donald Trump on Friday voiced a willingness to ease tariffs on China, saying on social media it “seems right” to slash levies from 145% to 80%. The announcement arrives a day before Treasury Secretary Scott Bessent is set to begin trade negotiations with Chinese officials at a meeting in Geneva, Switzerland. The […]

Mortgage rates have dropped over the early months of 2025, offering homebuyers an opportunity for some borrowing relief if they move ahead with the big-ticket purchase. The housing market remains sluggish and wider economic uncertainty looms, however. President Donald Trump’s tariffs threaten to upend global trade and tip the U.S. into a downturn, experts said. […]

(WASHINGTON) — The Federal Reserve held interest rates steady on Wednesday, just weeks after President Donald Trump intensified calls for lower borrowing costs and voiced eagerness about the potential “termination” of Fed Chair Jerome Powell. In recent days, Trump has dialed back his attacks on Powell, saying he will not fire Powell before the end […]

(FRANKFORT, KY) — Kentucky’s bourbon industry faces potential devastation as President Donald Trump’s latest tariff dispute with Canada threatens to halt $43 million in annual whiskey exports. During Tuesday’s Oval Office meeting with Canadian Prime Minister Mark Carney, Trump maintained his hard stance on tariffs, declaring that Canada would need to make significant concessions to […]

(WASHINGTON) — The Federal Reserve on Wednesday is set to announce its first decision on the level of interest rates since President Donald Trump last month intensified calls for lower borrowing costs and voiced eagerness about the potential “termination” of Fed Chair Jerome Powell. In recent days, Trump has dialed back his attacks on Powell, […]

(WASHINGTON) — President Donald Trump late Sunday proposed a 100% tariff on foreign-made films, saying the policy would counteract financial incentives that have drawn Hollywood productions overseas. “WE WANT MOVIES MADE IN AMERICA, AGAIN!” Trump said in a post on social media. Movie studios have increasingly moved production abroad in recent years as a means […]

(NEW YORK) — Think your giant sport-utility vehicle is cooler than the middling station wagon? Think again. German automaker BMW recently entered the U.S. “super wagon” category with its high performance M5 Touring, a ludicrously fast family hauler (starting price $121,500) that can smoke a two-seater sports car on a racetrack — again and again. […]

(NEW YORK) — Hiring slowed but remained robust in April following President Donald Trump’s “Liberation Day” tariff announcement early last month, fresh data on Friday showed. The reading exceeded economists’ expectations. The U.S. added 177,000 jobs in April, according to data from the U.S. Bureau of Labor Statistics. That figure marked solid growth but a […]

(NEW YORK) — President Donald Trump’s administration is set to begin collecting defaulted student loan payments next week — which could harm the credit scores of millions of borrowers. Roughly 5 million borrowers will have their university and college loans sent for collections beginning May 5, the Department of Education said last month. When that […]

(WASHINGTON) — Government data to be released on Wednesday is expected to show a sharp economic slowdown over the initial months of President Donald Trump’s second term as a flurry of tariff proposals stoked uncertainty among businesses and consumers, analysts told ABC News. The measure of gross domestic product, or GDP, will likely be lowered […]

(WASHINGTON) — President Donald Trump is set to provide tariff relief for carmakers on Tuesday, just weeks after the onset of auto levies triggered warnings of price increases. An administration official confirmed that the 25% tariff on finished foreign-made cars and parts will remain — but today’s announcement will prevent tariffs from stacking on top […]

(NEW YORK) — A new survey of consumers on Tuesday is expected to show attitudes worsened in April, casting further gloom over the economy as President Donald Trump’s tariffs set off warnings of price increases and a possible recession. A reading of sour consumer sentiment would mark the fifth consecutive month of decline, leaving the […]

(WASHINGTON) — Few of President Donald Trump’s first 100 days in his second term carried more fanfare than April 2, which Trump previewed for weeks under the moniker of “Liberation Day.” At a Rose Garden ceremony replete with a live band and floor-to-ceiling American flags, Trump announced the nation’s largest set of tariffs in nearly […]

(WASHINGTON) — A marketing email distributed this month by Trump Coins, a commemorative coin venture launched last year by President Donald Trump, attributes the soaring value of gold and other metals in recent weeks to the president’s “return to the spotlight.” “President Trump’s bold stance on tariffs, American industry, and economic protection is pushing investors […]

(NEW YORK) — The country’s electric vehicle market has an affordability problem. Enter Slate, a new company backed by Amazon CEO Jeff Bezos and two investment funds. On Thursday, company executives unveiled an inexpensive, spartan electric truck that comes at a critical time for U.S. consumers and the industry. Priced below $30,000, the truck, which […]

(NEW YORK) — U.S. stocks rallied in early trading on Wednesday, one day after President Donald Trump said tariffs on China would “come down substantially.” Trump also appeared to soften previous attacks on the Federal Reserve, saying late Tuesday he has “no intention” of firing top central banker Jerome Powell. The Dow Jones Industrial Average […]

(NEW YORK) — Seniors lost $4.8 billion in 2024 to scammers, according to a report released Wednesday by the FBI. In total, people in the United States lost $16.6 billion in 2024, representing a 33% increase in losses from 2023 to 2024. “Every number in this report represents a real person, a victim whose trust […]

(NEW YORK) — Tesla’s profits fell 71% over the first three months of this year, a company earnings release on Tuesday showed. The company’s performance fell short of analysts’ expectations. The decline coincided with a sales slump and stock woes at the electric carmaker, and comes amid worldwide protests against CEO Elon Musk over his role in the Trump […]

(WASHINGTON) — Some 5 million Americans with defaulted student loan payments will have their loans sent for collections on May 5, the Department of Education announced on Monday. Next month, for the first time since student loan payments were paused due to the onset of the COVID-19 pandemic, the Education Department will collect the debts […]

(WASHINGTON) — Worldwide protests against Tesla CEO Elon Musk over his role in the Trump administration have coincided with a sales slump and stock woes at the electric carmaker. Little will be known about the precise impact on Tesla’s bottom line, however, until the company releases its earnings report on Tuesday afternoon. That announcement holds […]

(NEW YORK) — U.S. stocks tumbled in early trading on Monday as President Donald Trump escalated his criticism of the Federal Reserve, urging the central bank to immediately lower interest rates and questioning the policy approach of Fed Chair Jerome Powell. The comments came days after Trump said he was eager for Powell’s “termination” despite a longstanding norm of political independence […]

(NEW YORK) — President Donald Trump this month slapped tariffs on most products that enter the United States. Economists widely expect the policy to raise prices for U.S. shoppers as importers pass along a share of the tax burden. An across-the-board 10% tariff applies to nearly all imports, except for semi-conductors, pharmaceuticals and some other […]

(NEW YORK) — This weekend, consumers and auto enthusiasts will poke, prod and pepper brand specialists with questions about the latest vehicles on display at the Javits Center. The annual New York International Auto Show, which officially opened to the public on Friday, is smaller and more condensed than previous years. There are still plenty […]

Matthias Balk/picture alliance via Getty Images (NEW YORK) — Alphabet’s Google illegally dominated two markets for online advertising technology, according to a federal judge. Judge Leonie Brinkema of the U.S. District Court for the Eastern District of Virginia said in a ruling Thursday that Google had broken the law to build its dominance over the largely invisible […]

(WASHINGTON) — President Donald Trump on Thursday sharply criticized Federal Reserve Chair Jerome Powell, urging the central bank to lower interest rates and saying Powell’s “termination cannot come soon enough.” It was not clear whether Trump’s comments indicated a desire to remove Powell from his position or an eagerness for the completion of Powell’s term […]

 (WASHINGTON) — Election denier and MyPillow CEO Mike Lindell continues to refuse to pay more than $50,000 in sanctions he has been ordered to pay to voting software company Smartmatic over “frivolous” election claims — alleging he’s left with no money after numerous legal battles. “I’m in ruins,” a teary Lindell said through a Zoom […]

(WASHINGTON) — Federal Reserve Chair Jerome Powell said Wednesday that he expects President Donald Trump’s tariffs policy to cause higher inflation and slower economic growth, complicating potential central bank efforts to ease the fallout. “The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true […]

manusapon kasosod/Getty (NEW YORK) — U.S. stocks closed down slightly on Tuesday as investors weathered ongoing uncertainty about President Donald Trump’s tariff plans. The Dow Jones Industrial Average ticked down 156 points, or 0.3%, at the close of trading. The S&P 500 fell 0.1%, while the tech-heavy Nasdaq declined 0.05%. The U.S. has received about […]

manusapon kasosod/Getty (NEW YORK) — U.S. stocks were little changed in early trading on Tuesday, a day after President Donald Trump signaled a willingness to ease some tariffs but also impose new ones. The Dow Jones Industrial Average ticked up 52 points, or 0.1%. The S&P 500 climbed 0.2%, while the tech-heavy Nasdaq increased 0.05%. […]

manusapon kasosod/Getty (NEW YORK) — U.S. stocks opened muted on Tuesday, a day after President Donald Trump signaled a willingness to ease some tariffs but also impose new ones. The Dow Jones Industrial Average ticked up 71 points, or 0.1%. The S&P 500 climbed 0.1%, while the tech-heavy Nasdaq increased 0.05%. Trump’s administration said on […]

(WASHINGTON) — Lawyers for Meta told a federal judge on Monday that the social media company founded by billionaire Mark Zuckerberg is not a monopoly, countering a landmark lawsuit brought against it by the Federal Trade Commission accusing the tech giant of gobbling up its competitors to corner the market. “Meta has no Monopoly,” Mark […]

(NEW YORK) — Major stock markets in Asia and Europe rose in Monday trading following the U.S. announcement that key consumer electronics would be temporarily exempted from President Donald Trump’s reciprocal tariffs. Hong Kong’s Hang Seng index led the regional gains, closing 2.4% up with the Hang Seng Tech Index up more than 2%. On […]

(NEW YORK) — U.S. stocks climbed on Friday, shrugging off new Chinese tariffs on American goods that intensified a trade war between the two largest economies in the world. The Dow Jones Industrial Average jumped 440 points, or 1.1%, while the S&P 500 surged 1.4%. The tech-heavy Nasdaq increased 1.6%. Meanwhile, a selloff of 10-year Treasuries sent yields climbing to 4.46%. […]

(NEW YORK) — Americans’ love affair with coffee and chocolate could soon get a lot more expensive. Baristas and confectioners say the beans they need to make their products are mostly grown in countries targeted by the Trump administration’s tariffs. According to the U.S. Department of Agriculture, the United States is the world’s second-largest importer of coffee. […]

(NEW YORK) — U.S. stocks seesawed between gains and losses in early trading on Friday as new Chinese tariffs on American goods intensified a trade war between the two largest economies in the world. The Dow Jones Industrial Average dropped 103 points, or 0.25%, while the S&P 500 fell 0.2%. The tech-heavy Nasdaq declined 0.07%. […]

(NEW YORK) — U.S. stocks inched lower in early trading on Friday as new Chinese tariffs on American goods intensified a trade war between the two largest economies in the world. The Dow Jones Industrial Average dropped 96 points, or 0.25%, while the S&P 500 fell 0.1%. The tech-heavy Nasdaq declined 0.05%. China issued a […]

(WASHINGTON) — President Donald Trump’s decision to pause so-called “reciprocal tariffs” for most countries triggered a historic stock market rally on Wednesday, but the levies that remain in place are still expected to hike prices and put the U.S. at risk of a recession, experts told ABC News. Alongside the suspension of some tariffs, Trump […]

(NEW YORK) — Consumer prices rose 2.4% in March compared to a year ago, marking a cooldown during a period that preceded the recession warnings and market turmoil following President Donald Trump’s recent escalation of tariffs. The reading came in lower than economists expected. Even as overall cost hikes slowed, egg prices soared 60% higher […]

(RALEIGH, N.C.) — In the Research Triangle area in and around Raleigh, North Carolina, home sales and construction development are booming as thousands flock to the area in search of affordable homes close to work. However, the severe tariffs President Donald Trump put on virtually all U.S. trading partners have created uncertainty within the U.S. […]

(NEW YORK) — U.S. stocks surged on Wednesday after President Donald Trump announced a 90-day pause in some tariffs. The Dow Jones Industrial Average climbed 2,370 points, or 6.3%, while the S&P 500 soared 7.4%. The tech-heavy Nasdaq jumped 9.6%. President Donald Trump’s latest batch of levies on China increased the cumulative rate of tariffs […]

(NEW YORK) — Hedge fund honcho Bill Ackman has joined a growing list of President Donald Trump’s billionaire backers calling for the White House to slam the brakes on tariffs. As the Trump administration’s reciprocal tariffs went into effect Wednesday, triggering retaliatory reactions from China and the European Union, Ackman took to social media, asking Trump to […]

(NEW YORK) –U.S. stocks seesawed on Wednesday, swinging between gains and losses amid fears of a global trade war as China and the European Union slapped retaliatory tariffs on U.S. goods. The Dow Jones Industrial Average fell 60 points, or 0.7%, while the S&P 500 dropped 0.6%, The tech-heavy Nasdaq jumped 0.2%. Meanwhile, a selloff […]

(NEW YORK) –U.S. stocks climbed on Wednesday, marking the latest swing in volatile trading and defying fears of a global trade war as China and the European Union slapped retaliatory tariffs on U.S. goods. The Dow Jones Industrial Average ticked up 60 points, or 0.15%, while the S&P 500 increased 0.4%. The tech-heavy Nasdaq surged […]

(NEW YORK) –U.S. stocks were mixed at the open of trading on Wednesday, extending days-long turmoil in markets as tit-for-tat tariffs between the U.S. and China heightened the risk of a global trade war and worsened fears of a recession. The Dow Jones Industrial Average opened down 315 points, or 0.8%, while the S&P 500 […]

(TAIWAN) — Asian stocks plunged during Wednesday’s trading session after President Donald Trump’s latest batch of sanctions on China came into force, helping wipe off Tuesday’s limited gains and compounding a turbulent week for the world’s key indexes. Trump’s new measures increased the cumulative rate of tariffs on Chinese goods to 104% — a move […]

(WASHINGTON) — After days of market tumult, President Donald Trump on Wednesday makes good on his long-sought goal of imposing aggressive tariffs against dozens of U.S. trading partners. But his gamble comes with major political risks for his legacy amid mounting concerns from Republicans and business leaders that’s he’s making a mistake by going too […]

(WASHINGTON) — President Donald Trump has repeatedly touted a drop in oil prices and borrowing costs as a sign that sweeping new tariffs bode well for the U.S. economy. Experts who spoke to ABC News largely rejected the notion, saying the trends indicate expectations of an economic slowdown that would diminish energy demand and send […]

Man Hei Leung/Anadolu via Getty Images (NEW YORK) — U.S. stocks rose on Tuesday in a burst of investor optimism as the Trump administration signaled plans to negotiate with some countries targeted by sweeping new tariffs. The Dow Jones Industrial Average jumped 1,385 points, or 3.6%, while the tech-heavy Nasdaq increased 3.7%. The S&P 500 […]

(WASHINGTON) — The Trump administration is pulling back its enforcement of crypto regulations, disbanding a unit dedicated to cryptocurrency enforcement The Justice Department instructed federal prosecutors to “no longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwitting violations of regulations,” according to a […]

Man Hei Leung/Anadolu via Getty Images (SEOUL) — Asian markets opened up on Tuesday after posting significant losses on Monday driven by President Donald Trump’s global tariffs campaign, with U.S. futures also rising slightly after a day of turmoil on Wall Street. As of early Tuesday morning, Dow Jones futures were up almost 2%, S&P […]

(NEW YORK) — As the world reels from tariffs instituted by the Trump administration, stock markets are widely in decline. On Friday, U.S. stock saw the worst decline since the COVID-19 pandemic began in 2020. But the declines last week did not rank among the worst crashes in the history of the U.S. stock markets. […]

(NEW YORK) — U.S. stocks tumbled at opening on Monday as President Donald Trump’s tariffs stoked fears of a wider global trade war and Wall Street firms sounded alarms about a possible recession. The sell-off hit U.S. firms hours after a historic rout in foreign markets. The Dow Jones Industrial Average plummeted 1,600 points, or […]

(HONG KONG) — Key global stock markets tumbled upon opening on Monday as the world’s reaction to President Donald Trump’s tariffs campaign continued — and as U.S. futures signaled more turmoil for American markets. In the U.S., Dow Jones futures were down about 1,200 points or 3.33% on Monday morning. S&P 500 and NASDAQ futures […]

(NEW YORK) — U.S. consumers are going on a tariff-induced shopping spree. From furniture, to appliances, to alcohol, Americans are rushing to buy before President Donald Trump’s sweeping tariffs are felt at the checkout counter. Economists say the tariffs are expected to increase prices for everyday items and many are now raising the likelihood that […]

(NEW YORK) — U.S. stocks closed down significantly on Friday after a continued selloff amid fallout from President Donald Trump’s “Liberation Day” tariffs. The Dow Jones Industrial Average plummeted 2,230 points, or 5.5%, while the S&P 500 plunged 6%. The tech-heavy Nasdaq declined 5.8%. The decline put the Nasdaq into bear market territory, meaning the index […]

(NEW YORK) — President Donald Trump on Friday said he is extending the deadline for TikTok to be banned or sold off by its Chinese-owned parent company, ByteDance. The previous April 5 deadline will be pushed 75 days, Trump said in a post to his social media platform. It’s the second time he has pushed […]

(NEW YORK) — President Donald Trump on Friday extended the deadline for TikTok to be banned or sold off by its Chinese-owned parent company, ByteDance. The move comes as Walmart is actively considering joining a group of investors to buy TikTok, according to sources close to the deal, who say Walmart’s interest was triggered by […]

Tom Williams/CQ-Roll Call, Inc via Getty Images (WASHINGTON) — Fed Chair Jerome Powell said Friday he expects President Donald Trump’s tariff policy to hike prices and slow economic growth, while noting that key economic indicators “still show a solid economy.” Policy changes implemented by the White House have contributed to a “highly uncertain outlook,” Powell […]

(NEW YORK) — U.S. stocks continued their slide in early trading on Friday, just hours after China announced retaliatory tariffs in response to President Donald Trump’s “Liberation Day” levies. The Dow Jones Industrial Average plummeted 925 points, or 2.25%, while the S&P 500 dropped 2.4%. The tech-heavy Nasdaq declined 3%. On Friday, China said it […]

(NEW YORK) — U.S. hiring surged in March, blowing past economists’ expectations and defying concern on Wall Street about a possible economic recession, government data on Friday showed. The U.S. added 228,000 jobs in March, according to data from the U.S. Bureau of Labor Statistics. That figure marked a major increase from hiring in the […]

(NEW YORK) — Hiring data to be released on Friday will offer a gauge of the nation’s economic health, just a day after President Donald Trump’s sweeping new tariffs triggered a major stock selloff. The jobs report, which details employer activity in March, is set to provide a snapshot of staff cuts imposed by the […]

(NEW YORK) — Key foreign stock markets continued their slide after opening on Friday morning, as the shockwaves of President Donald Trump’s “Liberation Day” tariffs continued to reverberate around the globe. Japan’s Nikkei index lost 3.5% on Friday, while the broader Japanese Topix index fell 4.45%. In South Korea, the KOSPI index was down 1.7%, […]

(NEW YORK) — The Kentucky bourbon industry said it is reeling from retaliatory actions taken by Canada and the European Union in response to President Donald Trump’s trade war against both global regions. More than 90% of the world’s bourbon is from Kentucky, which advocates say is now jeopardized. Last month, the EU announced it […]

(NEW YORK) — U.S. stocks suffered major losses on Thursday at close of the first trading session after President Donald Trump’s sweeping tariffs announcement. The Dow Jones Industrial Average plummeted 1,679 points, or nearly 4%, while the tech-heavy Nasdaq declined almost 6%. The S&P 500 tumbled 4.8%, marking its worst trading day since 2020. The […]

(NEW YORK) — U.S. stocks plunged in early trading on Thursday, just hours after President Donald Trump’s sweeping tariffs announcement touched off threats of countermeasures from foreign leaders. The Dow Jones Industrial Average plummeted 1,100 points, or 2.6%, while the tech-heavy Nasdaq declined 4.3%. The S&P 500 tumbled 3.3%, setting it on pace for its […]

(Karl Tapales/Getty Imag) (NEW YORK) — With the clock ticking on TikTok’s deadline to sell or face a ban in the U.S., the battle to buy the app has intensified. Amazon has now sent a letter to the Trump administration to join the bidding war for TikTok, sources told ABC News. President Donald Trump said […]

(NEW YORK) — Foreign stock markets tumbled on Thursday morning following President Donald Trump’s announcement of a raft of tariffs on America’s trade partners — including a minimum baseline tariff of 10% on all nations. American trading partners reacted to Trump’s tariffs announcement with condemnation and concern, warning that the measures could touch off a […]

(NEW YORK) — U.S. stocks stood essentially unchanged in trading on Wednesday hours before President Donald Trump’s expected announcement of sweeping tariffs, which the White House has dubbed “Liberation Day.” The Dow Jones Industrial Average ticked up 7points, or 0.02%, while the S&P 500 climbed 0.05%. The tech-heavy Nasdaq inched up 0.02%. Tesla, the electric […]

Artur Widak/NurPhoto via Getty Images (NEW YORK) — Deliveries of Elon Musk’s Tesla vehicles dropped about 13% compared to a year ago, according to a new release from the company. The decline comes amid criticism of Musk and increased competition. On Wednesday, Tesla reported it produced over 362,000 vehicles and delivered over 336,000 in the first quarter […]

Michael M. Santiago/Getty Images (NEW YORK) — Stock markets struggled into Wednesday morning as it became clear that President Donald Trump intended to announce a slew of tariffs on America’s trading partners, with the White House preparing to mark what it is calling “Liberation Day.” The S&P 500 and NASDAQ both posted their first quarterly […]

(NEW YORK) — Canada vowed to respond with retaliatory tariffs if President Donald Trump slaps additional levies on Canadian goods as part of an expected announcement of sweeping new tariffs on Wednesday. “We will respond to additional measures,” Canadian Prime Minister Mark Carney told reporters on Tuesday. “We will put in place retaliatory measures if […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stocks tumbled in early trading on Tuesday, just a day before President Donald Trump’s expected announcement of sweeping new tariffs, which threatens to escalate a global trade war. The Dow Jones Industrial Average fell 250 points, or 0.6%, while the S&P 500 declined 0.45%. The tech-heavy Nasdaq ticked […]

(NEW YORK) — Stocks fell on Monday ahead of the expected introduction of President Donald Trump’s sweeping tariffs on Wednesday, measures the president said will impact “all countries.” The Dow Jones Industrial Average ticked down 10 points, or 0.03%, while the S&P 500 declined 0.7%. The tech-heavy Nasdaq plunged 1.5%. Tesla, the electric carmaker led […]

(NEW YORK) — U.S. stocks plunged in early trading on Monday ahead of the expected introduction of President Donald Trump’s sweeping tariffs on Wednesday, measures the president said will impact “all countries.” The Dow Jones Industrial Average fell 315 points, or 0.75%, while the S&P 500 declined 1.1% on Monday morning. The tech-heavy Nasdaq plunged […]

(NEW YORK) — Foreign markets saw a wave of selloffs on Monday morning ahead of the expected introduction of President Donald Trump’s sweeping tariffs on Wednesday, measures the president said will impact “all countries.” Japan’s Nikkei index fell more than 4% and South Korea’s KOSPI slipped 3% after opening on Monday. In Europe, the British […]

(MADISON, WI) — Just hours after the state Supreme Court rejected Wisconsin Attorney General Josh Kaul’s effort to block Elon Musk from handing out $1 million checks on Sunday night, the billionaire took the stage at a town hall in Green Bay and gave away two $1 million checks to attendees in his latest effort […]

Spencer Platt/Getty Images (NEW YORK) — Inflation held steady in February compared to a year ago, according to a release from the Federal Reserve’s preferred gauge of price increases. The reading matched economists’ expectations. Consumer prices climbed 2.5% in February compared to a year ago, registering at a level slightly higher than the Fed’s target […]

(NEW YORK) — U.S. stocks ticked higher on Thursday in the first trading since President Donald Trump announced 25% auto tariffs. The tariffs have escalated a global trade war and prompted forecasts of higher car prices. The Dow Jones Industrial Average climbed 20 points, or 0.05%, while the S&P 500 increased 0.25% on Thursday morning. The […]

Michael M. Santiago/Getty Images (NEW YORK) — U.S. stocks slid on Thursday in the first trading since President Donald Trump announced 25% auto tariffs, escalating a global trade war and prompting forecasts of higher car prices. The Dow Jones Industrial Average fell 250 points, or 0.5%, while the S&P 500 dropped 0.5%. The tech-heavy Nasdaq […]

(WASHINGTON) — Republicans accused public media outlets NPR and PBS of bias at a House subcommittee hearing on Wednesday, while Democrats defended the organizations and criticized the event as a distraction from the ongoing controversy regarding the Trump administration’s use the Signal messaging app for the communication of sensitive information. PBS President and CEO Paula […]

(NEW YORK) — President Donald Trump has vowed to issue a fresh round of tariffs on April 2, presenting it as an inflection point for the economy weeks after a previous set of duties roiled markets and incited recession fears. Trump has repeatedly referred to April 2 as “liberation day,” saying a wide-ranging slate of […]

Drew Angerer/Getty Images (NEW YORK) — New Mega Millions rules will come into play next month, the company has announced, under which the minimum jackpot value will more than double to $50 million. The new rules will come into force after the final drawing of the current game on Friday, April 4, the company said […]

(NEW YORK) — With more high-rise buildings than anywhere else in the U.S., New York City has long been a place where millions of people hope to achieve the American dream through careers in the construction industry. While scores of construction workers are spending hours each day building the city’s newest apartment buildings, office towers […]

97/Getty Images (NEW YORK) — Consumer attitudes worsened in March as President Donald Trump’s tariffs set off a market rout and warnings of a possible recession, Conference Board survey data on Tuesday showed. Sentiment worsened more than economists expected. The fresh data on consumer sentiment arrives a week before the onset of additional U.S. tariffs, […]

(WASHINGTON) — Boeing is seeking to withdraw its guilty plea agreement with the Department of Justice in the criminal cases surrounding two deadly 737 MAX crashes, sources familiar with the matter told ABC News. The agreement blamed the aerospace giant for misleading the Federal Aviation Administration before the two crashes in October 2018 and March […]

(NEW YORK) — Over the weekend, genetic testing and biotechnology company 23andMe filed for Chapter 11 bankruptcy. Founded in 2006, the company became popular with millions of Americans who sent in samples of saliva with the promise of learning about their ancestry and genetic health predispositions. However, following a class-action settlement from a data breach, the resignation of […]

(Andrew Harnik/Getty Images) (NEW YORK) — A representative of the Securities and Exchange Commission served Elon Musk earlier this month with a copy of a complaint alleging he misled investors when he bought millions of dollars in Twitter stock in 2022, according to a court filing on Thursday. An employee of a Virginia-based process server […]

(WASHINGTON) — President Donald Trump late Wednesday criticized the Federal Reserve, urging the central bank to reduce interest rates, hours after it chose to leave borrowing rates unchanged. The move marked the latest example of Trump exerting pressure on the Federal Reserve, despite a longstanding norm of political independence at the central bank. Trump said […]

(NEW YORK) — The Federal Reserve is set to announce its first interest rate decision since a global trade war touched off by President Donald Trump’s tariffs sent stocks reeling and triggered concern about a possible recession. The move arrives less than two weeks after Fed Chair Jerome Powell said tariffs would likely raise prices, […]

(WASHINGTON) — Federal Reserve Chair Jerome Powell stepped to the podium in August with a sunny forecast that defied the snow-capped mountains inscribed on curtains behind him. The central bank planned to begin cutting rates, Powell announced, reversing a yearslong battle against pandemic-era inflation. “The time has come,” Powell told the audience at a conference […]

(NEW YORK) — As Tesla stock has fallen in recent weeks, members of the board and an executive at Elon Musk’s company have been selling off millions of dollars in stock, according to filings with the U.S. Securities and Exchange Commission. Together, four top officers at the company have offloaded over $100 million in shares […]

(NEW YORK) — President Donald Trump’s tariffs sent stocks tumbling in recent weeks, but the uncertainty helped propel a different asset viewed as a safe haven: gold. The price of gold topped $3,000 per ounce for the first time ever last week, and the precious metal continued to hover around that mark in early trading […]

Harvard Yard/ Andrew Lichtenstein/Corbis via Getty Images) (CAMBRIDGE, Mass.) — Harvard University on Monday announced that tuition will be free for students from families with annual incomes of $200,000 or less starting in the 2025-26 academic year. “Putting Harvard within financial reach for more individuals widens the array of backgrounds, experiences, and perspectives that all […]

(NEW YORK) — Consumer attitudes soured in March alongside slumping markets and growing concern about a possible recession, University of Michigan survey data on Friday showed. Sentiment worsened more than economists expected. The figure marked the third consecutive month of dampening consumer attitudes, data showed. Expectations about future economic conditions worsened in a slew of […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stocks climbed in early trading on Thursday, advancing amid signs the federal government may avert a shutdown and recovering some of the losses suffered during an escalating trade war. The Dow Jones Industrial Average jumped 230 points, or 0.6%, while the S&P 500 increased 0.9%. The tech-heavy Nasdaq […]

(WASHINGTON) — President Donald Trump on Thursday stood firm on his tariff policy, hours after threatening to escalate a global trade war with a 200% tariff on champagne and other alcohol products from the European Union. “I’m not going to bend at all,” Trump told reporters at the White House on Thursday. When asked whether […]

(WASHINGTON) — President Donald Trump on Thursday threatened a 200% tariff on champagne and other alcohol products from the European Union, escalating a global trade war that has roiled markets and stoked recession fears. The move came a day after the EU announced plans to slap tariffs on $28 billion worth of U.S. goods, including […]

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. (NEW YORK) — U.S. stocks dropped slightly lower early Thursday, after a reprieve for the S&P and Nasdaq a day earlier amid President Donald Trump’s trade war. The Dow Jones Industrial Average fell 150 points in early trading, or […]

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. (NEW YORK) — Stocks futures were again showing jitters early Thursday, after a reprieve for the S&P and NASDAQ on Wednesday amid President Donald Trump’s trade war. A back-and-forth over international tariffs is hanging over the U.S. economy, along […]

(NEW YORK) — The major U.S. airlines thought they were going to have a strong first quarter, but things are not going as well as expected. Each of the major U.S. airlines has put out guidance pointing to significant economic uncertainty that is directly affecting their domestic bookings this spring. For its part, Delta was […]

(NEW YORK) — Consumer prices rose 2.8% in February compared to a year ago, easing slightly over the first full month under President Donald Trump and offering welcome news for markets roiled by a global trade war. Inflation cooled more than economists expected. The major stock indexes climbed in early trading on Wednesday, minutes after […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stocks teetered in early trading on Wednesday, posting shaky performance amid an escalating global trade war and concerns about a possible recession. After some initial modest gains, the Dow Jones Industrial Average fell 330 points, or 0.8%, while the S&P 500 dropped 0.25%. The tech-heavy Nasdaq ticked up […]

(NEW YORK) — Consumer prices rose 2.8% in February compared to a year ago, easing slightly over the first full month under President Donald Trump and offering welcome news for markets roiled by a global trade war. Inflation cooled more than economists expected. Price increases slowed from a 3% inflation rate recorded in January, though […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stocks climbed in early trading on Wednesday, recovering some of the losses suffered in recent days amid an escalating global trade war and concerns about a possible recession. The Dow Jones Industrial Average jumped about 200 points, or 0.5%, while the S&P 500 increased 1%. The tech-heavy Nasdaq […]

Li Hongbo / Feature China/Future Publishing via Getty Images (WASHINGTON) — U.S. tariffs on imported steel and aluminum are now in effect, part of an escalating series of trade maneuvers by President Donald Trump that have unsettled markets. As of Wednesday, the U.S. is imposing 25% tariffs on all steel and aluminum imports from all […]

Spencer Platt/Getty Images (NEW YORK) — Stocks futures traded slightly higher early Wednesday, following another volatile day for the market amid the continued rollout of President Donald Trump’s tariffs on goods from top U.S. trading partners. Dow futures were higher by 189 points or 0.46%. Both the Nasdaq and S&P 500 also appeared ready to […]

(WASHINGTON) — An inflation report to be released on Wednesday will provide a fresh gauge of economic performance under President Donald Trump as markets slide and recession fears swell in response to an escalating trade war. Economists expect the data to show that inflation eased in February. Consumer prices are expected to have risen 2.9% […]

(NEW YORK) — U.S. stocks dropped on Tuesday, extending losses suffered a day earlier amid a fresh round of tariffs on Canada and concern about a possible recession. The Dow Jones Industrial Average tumbled about 515 points, or 1.2%, while the S&P 500 fell 0.8%. The tech-heavy Nasdaq ticked down 0.4%. The Tuesday selloff extended […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stocks seesawed between positive and negative territory in early trading on Tuesday, remaining essentially unchanged after losses suffered Monday when markets reacted to President Donald Trump’s refusal to rule out a possible recession. The Dow Jones Industrial Average ticked down about 225 points, or 0.5%, while the S&P […]

(DALLAS) — A shift is on the horizon at Southwest Airlines. The carrier known for its customer-friendly policies and affordable airfare announced changes to its baggage and fare structure in an effort to cater to a broader range of travelers. While the low-cost airline has long stood out for offering two free checked bags for […]

(NEW YORK) — Since Elon Musk went to Washington, D.C., to slash the government alongside President Donald Trump, the stock of his electric car company Tesla has taken a significant hit, tumbling nearly 48% this year. During an interview this week, Musk addressed the difficulties. “You’re giving up your other stuff,” Fox Business’ Larry Kudlow […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stock futures traded slightly higher on Tuesday, following Monday’s major selloff as markets digested President Donald Trump’s comments that there would be a “period of transition” as the economy adjusted to a global trade war. Dow futures traded up 156 points, or about 0.36%. The Dow Jones Industrial […]

Matteo Colombo/Getty Images (NEW YORK) — U.S. stocks dropped in early trading on Monday, suffering widespread losses a day after President Donald Trump declined to rule out the possibility of a recession. The Dow Jones Industrial Average fell 515 points, or 1.2%; while the S&P 500 declined 1.4%. The tech-heavy Nasdaq plummeted nearly 2%. Tesla, […]

(NEW YORK) — For the last 130 years, four generations of Ernest Lepore’s family have baked the pastries – cream puffs, cannoli, sfogliatelle – that have come to define Manhattan’s Little Italy neighborhood, withstanding wars, economic downturns and drastic changes to the neighborhood that his family calls home. But with the soaring cost of eggs […]

(WASHINGTON) — The U.S. added fewer jobs than economists expected in February, the first full month under President Donald Trump, according to government data released on Friday. Employers hired 151,000 workers last month, falling short of expectations of 170,000 jobs added. The unemployment rate ticked up to 4.1%, which remains a historically low figure. Stock […]

(WASHINGTON) — A fresh jobs report to be released on Friday will offer a snapshot of U.S. economic performance over the first full month under President Donald Trump. Economists expect employers to have hired 170,000 workers in February. That figure would mark a slight uptick from 143,000 jobs added in January, and it would nearly […]

(NEW YORK) — President Donald Trump on Thursday announced a one-month delay of tariffs on some products from Mexico. The temporary exemption will lift tariffs for all Mexican goods compliant with United States-Mexico-Canada Agreement, or USMCA, a free trade agreement. The announcement came after a conversation between Trump and Mexican President Claudia Sheinbaum, Trump said. […]

Spencer Platt/Getty Images (NEW YORK) — U.S. stocks tumbled in early trading on Thursday as fallout from the Trump administration’s tariffs continued to roil markets. The Dow Jones Industrial Average dropped about 400 points, or nearly 1%, while the S&P 500 fell 1.3%. The tech-heavy Nasdaq sunk 1.8%. The selloff erased some of the market […]

(NEW YORK) — The stock market surged on Wednesday afternoon after the Trump administration granted automakers a one-month exemption from tariffs imposed a day earlier. The Dow Jones Industrial Average climbed about 550 points, or 1.3%; while the S&P 500 jumped 1.25%. The tech-heavy Nasdaq increased 1.5% on Wednesday. Press Secretary Karoline Leavitt said President […]

(NEW YORK) — Price hikes for gasoline and groceries could reach shoppers within days in the aftermath of tariffs imposed by the Trump administration, experts told ABC News. Some products such as auto fuel and fresh produce will be hit with near-instant price increases, while others like cars, laptops and children’s toys will show hikes in the coming […]

(NEW YORK) — China issued a warning on Wednesday night that it stands ready for any “type of war” with the United States in the aftermath of tariffs imposed hours earlier by the Trump administration. A spokesperson for the Chinese foreign ministry said the tariffs would not lead to a resolution of U.S. concerns about […]

(RIO GRANDE CITY, TEXAS) — Emily Williams Knight, president and CEO of the Texas Restaurant Association, represents 58,000 restaurants that employ 1.5 million Texans. That breaks down to 11% of the state’s workforce that could potentially be impacted by the 25% tariffs on Mexican imports that just went into effect. All Tuesday morning she was […]

(NEW YORK) — The stock market fell in early trading on Tuesday, just hours after the Trump administration’s long-promised tariffs took effect. The Dow Jones Industrial Average dropped nearly 800 points, or 1.8%; while the S&P 500 also fell 1.8%. The tech-heavy Nasdaq tumbled 1.6%. The policy taxes imports from Mexico, Canada and China — the three […]

(WASHINGTON) — America’s closest neighbors and allies, Canada and Mexico, excoriated President Donald Trump for slapping historic tariffs on goods from their countries. Trump’s broad tariffs went into effect on Tuesday, along with increased duties on goods from China, a move that prompted a swift retaliation from Beijing. “President Trump continues to demonstrate his commitment to […]

lvcandy/Getty Images (NEW YORK) — The stock market fell in early trading on Tuesday, just hours after the Trump administration’s long-promised tariffs took effect. The Dow Jones Industrial Average dropped nearly 500 points, or 1.1%; while the S&P 500 fell 0.8%. The tech-heavy Nasdaq inched down 1.1%. The policy taxes imports from Mexico, Canada and […]

(WASHINGTON) — President Donald Trump’s broad tariffs on imported goods from Mexico and Canada went into effect on Tuesday, along with increased duties on goods from China, a move that prompted a swift retaliation from Beijing. “President Trump continues to demonstrate his commitment to ensuring U.S. trade policy serves the national interest,” the White House […]

When Swedish automaker Volvo opened its proving ground in Kiruna, Sweden, 30 years ago, the mission was clear: “Making sure that our products are truly fit for the harshest of winter conditions.” The remote location was ideal. Kiruna, situated about 90 miles north of the Arctic Circle, historically has long, cold winters and snow cover […]

(WASHINGTON) — Economists say the uncertainty from President Donald Trump’s tariff threats and mass layoffs of government workers are starting to have a “chilling” effect on the U.S. economy. “It’s a very difficult business environment, because they can’t plan for what their cost structure is going to be,” said Rachel Ziemba, an adjunct senior fellow […]

(NEW YORK) — Consumer confidence plummeted in February, indicating worry about the direction of the U.S. economy under President Donald Trump. A gauge of consumer confidence registered its largest monthly drop since August 2021, the nonpartisan Conference Board said on Tuesday. Meanwhile, the share of consumers who expect a recession within the next year surged to a nine-month high, the […]

Adam Gault/Getty Images (NEW YORK) — Americans’ household debt — including credit cards, mortgages, auto loans and student loans — is at a new all-time high $18.04 trillion, according to a report released Thursday by the Federal Reserve Bank of New York. Overall debt grew by $93 billion in the last three months of 2024 — and […]

(NEW YORK) — While Elon Musk has vaulted into a powerful role overhauling government agencies and upending Washington, the world’s richest person has suffered a $106 billion drop in wealth due to steep decline in shares of his Tesla electric car company. Tesla’s stock price has plummeted 30% from its all-time high in December, including […]

(NEW YORK) — While Elon Musk has vaulted into a powerful role overhauling government agencies and upending Washington, the world’s richest person has suffered a $106 billion drop in wealth due to steep decline in shares of his Tesla electric car company. Tesla’s stock price has plummeted 30% from its all-time high in December, including […]

(NEW YORK) — Consumer prices rose 3% in January compared to a year ago, ticking up from the previous month and posing an obstacle for Trump administration tariff policies that many economists expect to raise some prices, government data on Wednesday showed. The inflation reading came in higher than economists had predicted. The fresh data […]

(NEW YORK) — An Elon Musk ally hired to overhaul the U.S. Department of Treasury has a lengthy record of undertaking hardline reforms in the private sector that demoralized staff and made them fear for their jobs, according to interviews with several former employees at his tech firm. Tom Krause, the CEO of Silicon Valley-based […]

(NEW YORK) — Quiksilver, Billabong, and Volcom, known for their surf and skate products, are closing stores in the United States. The parent company of the brick-and-mortar stores, Liberated Brands, filed voluntary Chapter 11 bankruptcy on Sunday, which will result in over 100 retail locations across the country being shuttered, according to a filing. The […]

(WASHINGTON) — Housing prices are soaring twice as fast as overall inflation. The average rate on a 30-year mortgage topped 7% in January for the first time since last spring. Observers as disparate as J.P. Morgan and the left-leaning nonprofit Center for American Progress have declared a “housing affordability crisis.” The cost crunch could last longer or even worsen, however, […]

(WASHINGTON) — Autoworkers, farmers and alcohol distillers are among a set of U.S. workers who risk losing their jobs as a result of potential tariffs on Canada, China and Mexico, experts told ABC News. The U.S. president was expected to sign executive orders on Tuesday putting in place the 25% tariffs on goods from Mexico […]

(NEW YORK) — The stock market fell on Monday after President Donald Trump slapped tariffs on Canada, Mexico and China, eliciting threats of retaliation and setting the stage for a trade war. The Dow Jones Industrial Average slid about 550 points, or 1.25%, in early trading on Monday. The S&P 500 dropped 1.5%, and the […]

(WASHINGTON) — Tariffs on goods from Mexico and Canada that are set to take effect could hike the price of a gallon of gasoline for some drivers by as much as 70 cents and send grocery bills climbing, experts told ABC News. The Trump administration this week reiterated plans to slap 25% tariffs on all […]

(WASHINGTON) — The Federal Reserve held interest rates steady on Wednesday, just days after President Donald Trump called on the central bank to lower them. The announcement put the central bank on a potential collision course with Trump, though a longstanding norm of independence typically insulates the Fed from direct political interference. The decision to […]

(WASHINGTON) — The Federal Reserve on Wednesday will announce its latest decision setting the level of interest rates, just days after President Donald Trump called on the central bank to lower them. Investors widely expect the Fed to hold interest rates steady, putting the central bank on a potential collision course with Trump. A longstanding […]

(NEW YORK) — The emergence of China-based AI app DeepSeek sent shares plummeting on Monday for many U.S. tech giants, including chipmaker Nvidia and AI-backer Microsoft. Nvidia, which helped catapult market wide gains in recent years, saw its share price plummet by more than 12% in early trading on Monday. Shares of Microsoft, a major […]

(NEW YORK) — While some companies are steering away from diversity, equity, and inclusion (DEI) policies, others are sticking with their previous commitments. Leaders at Goldman Sachs, Costco and JPMorgan Chase & Co have recently spoken out in support of their diversity programs, as anti-DEI activist shareholders continue to push proposals that would roll back […]

(WASHINGTON) — President Donald Trump on Thursday said he will call for a lowering of U.S. interest rates, exerting pressure on the Federal Reserve despite a longstanding norm of political independence at the central bank. During a virtual address to the World Economic Forum in Davos, Switzerland, Trump demanded a drop in interest rates after calling for a […]

(NEW YORK) — Shares of Netflix soared 12% in early trading on Wednesday, just hours after the streaming giant announced price increases set to impact all of the company’s U.S. subscribers. The standard monthly subscription without advertisements will climb from $15.49 to $17.99, and a standard monthly subscription with ads will increase one dollar to […]

(ISSAQUAH ,WA) — In pursuit of increased wages and renegotiated employee benefits, more than 18,000 Costco union members nationwide voted to authorize a strike if the wholesale company doesn’t agree to their terms by Jan. 31. The looming Costco strike marks the latest in a string of Teamsters union walkouts from employees of industry giants […]

(NEW YORK) — Cryptocurrencies affiliated with President Donald Trump and first lady Melania Trump plummeted in the initial hours after Trump was sworn into office Monday. “Official Trump,” a recently launched crypto token, plunged more than 20% in value over a 24-hour stretch ending Tuesday morning, according to crypto tracking site CoinGecko. After the drop, […]

TikTok said Sunday it’s “restoring service” after a ban in the United States initially began to take effect earlier in the day. “In agreement with our service providers, TikTok is in the process of restoring service. We thank President Trump for providing the necessary clarity and assurance to our service providers that they will face […]

(WASHINGTON) — Consumer prices rose 2.9% in December compared to a year ago, ticking up from the previous month and extending a resurgent bout of inflation just days before President-elect Donald Trump takes office. The reading matched economists’ expectations. The fresh data arrives after a jobs report last week showed stronger-than-expected hiring in December, which […]

(LOS ANGELES) — Multiple fires raging across the Los Angeles area will cost insurers as much as $30 billion, Wells Fargo and Goldman Sachs estimated in a report released this week. After accounting for non-insured damages, the total costs will balloon to $40 billion, the report said. The ongoing fires, according to analysts, “appear to already be the costliest […]

(NEW YORK) — TikTok mounted a last-ditch effort at the Supreme Court on Friday meant to stop a ban of the app set to take effect within days — but the platform’s arguments may have landed with a thud. A majority of the justices appeared inclined to uphold a federal law that would ban the […]

(NEW YORK) — Facebook plans to replace its fact-checkers with “community notes,” a move that Meta CEO Mark Zuckerberg said would allow the social network to return “to our roots around free expression.” “We’re replacing fact checkers with Community Notes, simplifying our policies and focusing on reducing mistakes,” Zuckerberg said on Tuesday. “Looking forward to […]

(NEW YORK) — Online holiday shopping soared to a fresh record high in 2024, driven by an array of e-commerce discounts and adoption of AI-fueled shopping assistants, according to data released on Tuesday by Adobe. E-commerce sales topped $240 billion in November and December, climbing nearly 9% when compared with the gift-buying season a year prior, data showed. The […]

David Paul Morris/Bloomberg via Getty Images (NEW YORK) — Facebook plans to replace its fact checkers with “Community Notes,” a move that Meta CEO Mark Zuckerberg said would allow the social network to return “to our roots around free expression.” “We’re replacing fact checkers with Community Notes, simplifying our policies and focusing on reducing mistakes,” […]

Prapass Pulsub via Getty Images (WASHINGTON) — In a major change that could affect millions of Americans’ credit scores, the Consumer Financial Protection Bureau on Tuesday finalized a rule to remove medical debt from consumer credit reports. The rule would erase an estimated $49 billion in unpaid medical bills from the credit reports of roughly […]

CHRIS KLEPONIS/AFP via Getty Images (WASHINGTON) — President Joe Biden on Friday announced a decision to block the $14 billion acquisition of U.S. Steel by Japan-based Nippon Steel, saying domestically produced steel is essential to U.S. national security. “Without domestic steel production and domestic steel workers, our nation is less strong and less secure,” Biden […]

(NEW YORK) — Homebuyers eager to forget this year’s housing market may ring in 2025 with an extra dash of zeal. A rapid rise in home prices has coincided with stubbornly high mortgage rates, shutting out potential buyers with daunting costs. A burst of supply could have eased prices, but no such relief was forthcoming. […]

(NEW YORK) — Nearly half of U.S. states are set to raise their minimum wage at the outset of 2025, boosting pay for millions of workers stretching from California to Maine. In all, 21 states will raise their wage floors on Jan. 1 in keeping with inflation-adjusted increases or as part of scheduled hikes that take effect at the […]

Jin Lee/Bloomberg via Getty Images (NEW YORK) — The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors. Twenty-three thousand victims worldwide are receiving payments, bringing their total recoveries to 94% of their losses. […]

(NEW YORK) — Shares of Boeing fell in early trading on Monday, one day after a Boeing model 737-800 was involved in the Jeju Air plane crash in South Korea that killed scores of passengers. The stock price dropped more than 4% at the open of trading on Monday morning. The slide came hours after South Korea’s transportation ministry […]

(NEW YORK) — Two weeks before the Supreme Court is set to hear oral arguments over TikTok’s future, President-elect Donald Trump has asked the justices to delay a Jan. 19 deadline for the app to be sold to a new owner or face a ban in the U.S. An amicus brief filed by Trump’s nominee […]

(NEW YORK) — The stock market climbed to record highs in 2024, extending banner gains achieved the previous year. The S&P 500 — the index that most people’s 401(k)’s track — climbed nearly 28% this year, as of Monday. The tech-heavy Nasdaq leapt a staggering 34% over that period; while the Dow Jones Industrial Average […]

(NEW YORK) — Holiday spending surged in 2024, blowing past expectations and outpacing customer purchases over the gift-buying season last year, according to data released on Thursday by Mastercard SpendingPulse, which gauges in-store and online retail sales. The end-of-year flex of consumer strength marks the latest indication of resilient U.S. buying power, which has kept the economy […]

(NEW YORK) — Thousands of Starbucks baristas are set to walk off the job on Tuesday, expanding the dayslong holiday strike to 300 stores in dozens of cities and towns nationwide, according to the union Starbucks Workers United. In all, 5,000 Starbucks employees will go on strike in more than 25 states on Tuesday, spanning from Maryland to Montana […]

Amazon delivery drivers and third-party workers for the nation’s predominant shopping platform have walked off the job in the past week, seeking what they consider a fair labor agreement — and triggering widespread concern among consumers about a potential disruption of deliveries amid a surge of last-minute shopping just before Christmas. But experts who spoke […]

(NEW YORK) — Starbucks baristas walked off the job in major cities in Massachusetts, Texas and Oregon on Monday, expanding the dayslong holiday strike to 12 cities nationwide, according to the union Starbucks Workers United. Workers went out on strike in Boston, Dallas-Fort Worth, Texas, and Portland, Oregon, joining baristas in cities spanning from Los Angeles to Philadelphia. Striking […]

(NEW YORK) — The price of bitcoin has tumbled about 12% from a record high reached earlier this week. After topping $108,000 for the first time on Tuesday, the world’s largest cryptocurrency dropped to a price below $93,000 in early trading on Friday. Bitcoin soon recovered some of those losses, settling around $95,000 at 9:30 a.m. ET. The selloff […]