How major US stock indexes fared Wednesday 11/16/2022
November 16, 2022 GMTWall Street closed lower as hefty drops in retailers and technology companies offset gains elsewhere in the market.
The S&P 500 lost 0.8% Wednesday. The Nasdaq fell 1.5%, and small-company stocks fell even more.
US retail sales rose 1.3% last month, a sign of resilience
November 16, 2022 GMTWASHINGTON (AP) — Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high inflation and rising interest rates.
China consumer, factory activity down as virus controls rise
November 15, 2022 GMTBEIJING (AP) — Chinese consumer spending contracted in October and factory activity weakened as anti-virus controls following a rise in infections weighed on the economy.
Retail sales sank 0.5% compared with a year ago, down from September’s 2.5% expansion, as millions of people were confined to their homes, government data showed Tuesday.
World Cup jerseys get mixed reviews ahead of Qatar
October 28, 2022 GMTNEW YORK (AP) — Puma, you’re all boxed in. Nike, what have you done to the U.S. and Canada? Adidas, you’re making a few style waves.
With millions at stake in retail sales, this year’s World Cup in Qatar has soccer fans playing rate the shirt — and what to buy.
New UK leader to face highest government debt in 60 years
October 21, 2022 GMTLONDON (AP) — British government debt rose to the highest level in almost 60 years last month and retail sales slumped, underscoring the scale of the economic challenges facing whoever replaces Prime Minister Liz Truss after her administration imploded under the weight of its failed financial plan.
Small businesses brace for cautious holiday shoppers
October 16, 2022 GMTNEW YORK (AP) — Small businesses are stocking the shelves early this holiday season and waiting to see how many gifts inflation-weary shoppers feel like giving.
Holiday shopping was relatively strong during the past two years as shoppers flocked online to spend, aided by pandemic stimulus dollars.
Retail sales flat in September as inflation takes a bite
October 14, 2022 GMTNEW YORK (AP) — The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things.
Retail sales were flat last month, down from a revised 0.4% growth in August, the Commerce Department reported Friday.
IKEA calls 2022 an ‘exceptional year’ despite challenges
October 13, 2022 GMTSTOCKHOLM (AP) — Swedish home furnishings giant IKEA said Thursday that despite “unprecedented challenges" caused by the war in Ukraine, supply chain disruptions, increased inflation and lingering fallout from the COVID-19 pandemic, 2022 had been an “exceptional year.”
Demand soars for kids’ books addressing violence, trauma
October 11, 2022 GMTCHICAGO (AP) — As the new school year swings into gear, some students carry heavier worries than keeping up with homework: Demand has been growing steadily for children’s books that address traumatic events such as school shootings.
Business Highlights: Rail deal, retail sales
September 15, 2022 GMT___
Tentative labor deal averts threat of nationwide rail strike
WASHINGTON (AP) — Rail companies and their workers reached a tentative agreement Thursday to avert a nationwide strike that could have shut down the nation’s freight trains and devastated the economy less than two months before the midterm elections.
Retail sales up 0.3% in Aug. from July amid inflation
September 15, 2022 GMTNEW YORK (AP) — Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets.
U.S. retail sales rose an unexpected 0.3% last month after falling 0.4% in July, the Commerce Department said Thursday.
This Week: Consumer prices, retail sales, quadruple witching
September 12, 2022 GMTA look at some of the key business events and economic indicators upcoming this week:
TRACKING INFLATION
The Labor Department delivers its latest monthly reading of consumer inflation Tuesday.
Business Highlights: Recession fears, flat retail sales
August 17, 2022 GMT___
BofA CEO: Struggling Americans feel they are in a recession
NEW YORK (AP) — The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point.
How major US stock indexes fared Wednesday 8/17/2022
August 17, 2022 GMTStocks closed lower on Wall Street, led by drops in big technology companies and erasing the S&P 500′s gains for the week.
The S&P 500 fell 0.7% Wednesday, while the Dow Jones Industrial Average and the Nasdaq also fell.
US retail sales were flat in July as inflation takes a toll
August 17, 2022 GMTWASHINGTON (AP) — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many Americans to spend more cautiously.
Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported Wednesday.
Business Highlights: Inflation drives retail spending bump
July 15, 2022 GMT____
Retail sales up 1% in June, easing fears of a recession
NEW YORK (AP) — Consumers picked up their spending from May to June, underscoring their resilience despite painfully higher prices at the gas pump and in grocery aisles and allaying fears that the economy might be on the verge of a recession.
Retail sales up 1% in June, easing fears of a recession
July 15, 2022 GMTNEW YORK (AP) — Consumers picked up their spending from May to June, underscoring their resilience despite painfully higher prices at the gas pump and in grocery aisles and allaying fears that the economy might be on the verge of a recession.
Retail sales in May slip 0.3% amid surging inflation
June 15, 2022 GMTNEW YORK (AP) — Americans trimmed their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items.
State officials extend ban on poultry events
June 3, 2022 GMTBISMARCK, N.D. (AP) — State animal health officials have extended a ban poultry events indefinitely as a bird flu outbreak continues.
Asia stocks mixed after Wall St gain, Powell warns on rates
May 18, 2022 GMTBEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation.
Retail sales rise 0.9% in April as consumers show resilience
May 17, 2022 GMTWASHINGTON (AP) — U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans' ability to keep ramping up spending even as inflation persists at nearly a 40-year high.
The increase was driven by greater sales of cars, electronics, and at restaurants, the Commerce Department said Tuesday.
This Week: US retail sales, home sales, Deere & Co. earns
May 16, 2022 GMTA look at some of the key business events and economic indicators upcoming this week:
SIZING UP RETAIL SALES
The Commerce Department serves up its monthly tally of U.S. retail sales Tuesday.
New Hampshire Senate rejects 2 marijuana legalization bills
April 28, 2022 GMTCONCORD, N.H. (AP) — The New Hampshire Senate on Thursday rejected two marijuana legalization bills, one that would’ve created a state-run monopoly for retail sales and another more modest plan to allow small-scale personal use and home cultivation of the drug.
Myanmar military government denies rumors of fuel shortages
April 20, 2022 GMTBANGKOK (AP) — Myanmar’s military government has denied the country is suffering from a shortage of fuel after rumors about low supplies of gasoline and diesel led to panic buying and long queues at service stations in several cities.
China’s economy grows still-weak 4.8% in January-March
April 18, 2022 GMTBEIJING (AP) — Chinese leaders face pressure to shore up sinking economic growth after Shanghai and other cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade and manufacturing.
Retail sales rise 0.5% in March amid soaring inflation
April 14, 2022 GMTNEW YORK (AP) — Retail sales rose modestly in March, but higher prices for food, gasoline and other basics took a big share of consumers' wallets.
Retail sales increased 0.5% after registering a revised 0.8% increase from January to February, reported the U.S.
Youngkin wants amendments to hemp, facial recognition bills
April 12, 2022 GMTRICHMOND, Va. (AP) — Virginia Gov. Glenn Youngkin has proposed substantial changes to a hemp bill aimed at reining in the retail sales of products containing a psychoactive form of THC, including amendments that would create new misdemeanor penalties for marijuana possession.
NJ approves 7 facilities for recreational cannabis sales
April 11, 2022 GMTTRENTON, N.J. (AP) — New Jersey regulators gave a green light Monday to seven facilities that already sell medical marijuana to also sell recreational cannabis, although it's not clear exactly when sales would begin.
This Week: Consumer prices, Delta results, retail sales
April 11, 2022 GMTA look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department serves up its latest monthly reading of inflation at the consumer level Tuesday.
US retail spending slows as inflation starts to bite
March 16, 2022 GMTNEW YORK (AP) — After beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for food, gasoline, and shelter are taking a bigger bite out of their wallet.
House Republicans block bill to speed retail marijuana sales
February 28, 2022 GMTRICHMOND, Va. (AP) — Republicans in the Virginia House blocked a measure Monday that would have allowed limited retail sales of recreational marijuana to begin later this year.
On a 5-3 party-line vote, the subcommittee voted to continue to 2023 the measure that had cleared the Democrat-controlled Senate earlier this month, effectively defeating it.
Beyond Meat falls short in Q4 due to weak retail demand
February 25, 2022 GMTU.S. shoppers are giving plant-based burgers a pass.
Plant-based meat company Beyond Meat said Thursday that its sales dropped in the fourth quarter due to weak U.S. retail demand. It was the third quarter in a row that the company's U.S.
Business Highlights: Retail sales surge, faster rate hikes
February 16, 2022 GMT___
January retail sales surge 3.8% as consumers defy inflation
NEW YORK (AP) — Fueled by pay gains, solid hiring and enhanced savings, Americans sharply ramped up their spending at retail stores last month in a sign that many consumers remain unfazed by rising inflation.
January retail sales surge 3.8% as consumers defy inflation
February 16, 2022 GMTNEW YORK (AP) — Fueled by pay gains, solid hiring and enhanced savings, Americans sharply ramped up their spending at retail stores last month in a sign that many consumers remain unfazed by rising inflation.
This Week: Producer prices, retail sales, Walmart earns
February 14, 2022 GMTA look at some of the key business events and economic indicators upcoming this week:
INFLATION BAROMETER
The Labor Department delivers its monthly index of U.S. wholesale prices Tuesday.
Virginia Republicans push for changes in marijuana law
January 29, 2022 GMTRICHMOND, Va. (AP) — Newly empowered Republican lawmakers in Virginia who opposed legalizing simple possession of marijuana say they don’t want to scrap the law, but they do want to make significant changes.
Marijuana legalization bill clears House panel in Delaware
January 26, 2022 GMTDOVER, Del. (AP) — A Democrat-led House committee voted mostly along party lines Wednesday to release a bill legalizing recreational marijuana use by adults in Delaware.
A lone Republican joined Democrats on the Health and Human Development committee in voting to release the bill, which will now likely head to an appropriations committee for consideration.
Rising inflation tightens squeeze on consumers
January 20, 2022 GMTRetail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending.
Consumers paid more for everything from groceries to cars in 2021 as companies passed along the costs of pricier raw materials and supply chain delays.
Stocks end mostly higher, but still log another losing week
January 14, 2022 GMTA late-afternoon recovery in technology stocks helped erase most of the market's losses Friday, though it wasn't enough to keep major indexes from posting their second straight losing week.
The S&P 500 eked out a 0.1% gain in the final minutes of trading after having been down about 1% earlier in the day.
December retail sales slip after a record holiday season
January 14, 2022 GMTNEW YORK (AP) — Americans overlooked shortages, spiking prices and uncertainty over the omicron variant to break spending records during the critical holiday shopping season. But figures released Friday show that after spending robustly early in the holiday season, consumers sharply slowed their purchases from November to December.
This Week: Consumer prices, Delta earns, retail sales
January 10, 2022 GMTA look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department serves up its December reading of inflation at the consumer level Wednesday.
Modest 0.3% November retail sales bump, optimism still high
December 15, 2021 GMTNEW YORK (AP) — Americans slowed their spending from October to November but continued shopping ahead of the critical holiday season, brushing off rising prices and shortages.
Retail sales rose a modest, seasonally adjusted 0.3% in November compared with the previous month when sales jumped 1.8%, the U.S.
China economy slows as virus outbreaks disrupt recovery
December 15, 2021 GMTBEIJING (AP) — China reported Wednesday that its economy slowed in November, buffeted by coronavirus outbreaks, weak demand and supply chain disruptions.
Retail sales were weaker than in October and inflationary pressures are complicating efforts to boost growth at a time when tighter limits on borrowing by developers are crimping construction and sales in the all-important property sector.
Bud blockers: Over 400 NY localities say ‘no’ to pot sales
December 11, 2021 GMTALBANY, N.Y. (AP) — More than 400 towns and villages across New York have opted to block local marijuana dispensaries and consumption lounges as a statewide deadline to do so nears, with many officials deciding to stay out of the upcoming market until regulators provide more clarity.
Beyond Meat Q3 sales fall short as US demand drops
November 10, 2021 GMTPlant-based meat maker Beyond Meat reported lower-than-expected sales in the third quarter due to a slump in U.S. demand.
Beyond Meat said its sales increased 12.7% to $106.4 million for the July-September period.
Oregon county bans sale of flavored tobacco products
November 3, 2021 GMTHILLSBORO, Ore. (AP) — Oregon's second most populous county has passed the state's first ban on flavored tobacco products.
Oregon Public Broadcasting reports the Board of County Commissioners in Washington County voted 3 to 2 Tuesday to prohibit retail sales of any flavored tobacco products, including menthol cigarettes and vape pens.
China’s economy slows as Beijing wrestles with debt
November 1, 2021 GMTBEIJING (AP) — China’s economic rebound from the coronavirus pandemic is stalling as President Xi Jinping’s government cracks down on surging corporate debt.
For a decade, the ruling Communist Party has talked about shifting to economy based on spending by 1.4 billion consumers instead of on building factories and apartments.
Coastal towns taking action to ban cannabis establishments
October 31, 2021 GMTNEW HAVEN, Conn. (AP) — With the legalization of recreational cannabis for adults and the impending start of retail sales next year, several Connecticut coastal towns are saying no, for now.
China’s economic growth weakens amid construction slowdown
October 18, 2021 GMTBEIJING (AP) — China’s economic growth is sinking under pressure from a construction slowdown and power shortages, prompting warnings about a possible shock to its trading partners and global financial markets.
Business Highlights: Retail sales, Wall Street’s big week
October 15, 2021 GMT___
Retail sales climb despite rising prices, supply issues
NEW YORK (AP) — Americans continued to spend at a solid clip in September even while facing sticker shock in grocery aisles, car lots and restaurants as snarled global supply chains slow the flow of goods.
Retail sales climb despite rising prices, supply issues
October 15, 2021 GMTNEW YORK (AP) — Americans continued to spend at a solid clip in September even while facing sticker shock in grocery aisles, car lots and restaurants as snarled global supply chains slow the flow of goods.
This Week: Consumer prices, UnitedHealth earns, retail sales
October 11, 2021 GMTA look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department serves up its September reading of inflation at the consumer level Wednesday.
Asian shares mostly gain after mixed session on Wall Street
September 30, 2021 GMTAsian shares were mostly higher on Thursday after a mixed trading session on Wall Street.
Tokyo’s Nikkei 225 index fell 0.4% after the release of disappointing factory and retail sales data. Shares also fell in Hong Kong but other regional benchmarks advanced.
How major US stock indexes fared Thursday
September 16, 2021 GMTStocks couldn’t hold on to a brief afternoon gain and wound up ending mostly lower Thursday.
The S&P 500 and the Dow Jones Industrial Average each fell. The tech-heavy Nasdaq managed to eke out a small gain.
Surprise uptick in spending by Americans as delta spread
September 16, 2021 GMTNEW YORK (AP) — Americans continued to spend at a brisk pace last month in the face of rising COVID-19 infections, though much of it was done online and not at restaurants or other sectors in the U.S.
Asian shares mostly lower on lackluster China, Japan data
September 16, 2021 GMTStocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected.
Shares fell in Tokyo, Shanghai, Hong Kong and Seoul but rose in Sydney.
Japan reported that its exports rose 26.2% in August from a year earlier, but that was well below forecasts for a rise of about 34.0%, Marcel Thieliant of Capital Economics said in a commentary.
Consumer prices, industrial production, retail sales
September 13, 2021 GMTA look at some of the key business events and economic indicators upcoming this week:
EYE ON INFLATION
The Labor Department serves up its August reading of inflation at the consumer level Tuesday.
Asian stock markets rebound after Wall St falls from record
August 18, 2021 GMTBEIJING (AP) — Asian stock markets rebounded Wednesday after Wall Street fell on weak retail sales as investors awaited an update from the Federal Reserve on possible plans to reduce U.S. stimulus.