The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued resilience in the labour market even as businesses remain cautious about hiring amid rising geopolitical risks. Initial claims for state unemployment benefits dropped by 11,000 to a seasonally adjusted 207,000 for the week ended April 11, according to data
Wall Street opened higher on Thursday, extending the momentum from a strong prior session that saw the benchmark indices reach record levels. Investor sentiment has been buoyed by hopes that geopolitical tensions in the Middle East may ease, alongside a steady flow of corporate earnings that continue to signal resilience in the US economy. The
PayPal stock price has staged a strong comeback in the past few weeks as investors went bargain-hunting. PYPL also jumped as investors priced in a potential acquisition. It rose to $50 on Wednesday, its highest level since February this year. PayPal stock has soared amid bargain hunting The ongoing PYPL stock surge has coincided with
Japan should gradually raise interest rates while keeping fiscal support targeted, a senior official from the International Monetary Fund said on Thursday, highlighting resilience in the country’s domestic economy. The remarks come ahead of the Bank of Japan’s upcoming policy meeting later this month, where policymakers are expected to assess economic headwinds alongside inflationary pressures
Shares of Tesla are on track to break an eight-week losing streak, though the stock pulled back slightly in early trading on Thursday as investors turned their attention to the company’s upcoming earnings and longer-term strategy. The stock fell around 1.6% to $384.91, even as the S&P 500 and the Dow Jones Industrial Average moved
Mortgage rates in the United States eased to their lowest level in a month last week, offering some relief to borrowers and driving a pickup in refinancing activity, even as demand from homebuyers remained subdued against a backdrop of economic uncertainty and geopolitical tensions. Data from the Mortgage Bankers Association showed total mortgage application volume
Oil prices edged higher on Wednesday after steep losses in the previous session amid uncertainty about the resumption of flows from the Strait of Hormuz. Meanwhile, gold had hit a near one-month high on COMEX earlier in the day, but the precious metal fell slightly amid a rise in energy prices. Silver prices also dipped
US equities moved higher on Wednesday, with the S&P 500 approaching a fresh all-time intraday high. Investor sentiment improved on expectations that the Iran conflict could be nearing a resolution. The benchmark index rose 0.2% and was on track for a record close, while the Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average gained
The International Monetary Fund has warned that the escalating conflict in the Middle East is adding further stress to an already fragile global fiscal environment. In its latest Fiscal Monitor report released on Wednesday, the IMF said higher interest rates and rising energy prices intensified by the war are increasing pressure on emerging markets and
Finance ministers from more than 10 countries cautioned on Wednesday that the ongoing Middle East conflict would continue to weigh on global growth, inflation, and financial markets, even if a lasting resolution is achieved. The warning came in a joint statement issued during the International Monetary Fund and World Bank Spring Meetings in Washington. The