#COMMERCEDEPARTMENT News
China Rebuffing All Contact With US Military: Pentagon
zerohedge.com China Rebuffing All Contact With US Military: Pentagon Top Pentagon officials have once again said that China is ignoring and rebuffing the US military's attempts to…
U.S.-led Indo-Pacific talks produce deal on supply chain early warnings
reuters.com [1/5] U.S. Commerce Secretary Gina Raimondo speaks with delegates during the Indo-Pacific Economic Framework meeting in Detroit, Michigan U.S. May 27, 2023. REUTERS/Rebecca…
Democratic veterans from 2 decades of budget wars say the national debt isn’t worth holding the U.S. and global economy ‘hostage’
yahoo.com In 1989, New York real estate developer Seymour Durst commissioned Manhattan’s now-famous National Debt Clock. He wanted to highlight how much the national debt rose during…
The national debt is a real issue, but the debt limit war is making the US a 'laughingstock'
fortune.com In 1989, New York real estate developer Seymour Durst commissioned Manhattan’s now-famous National Debt Clock. He wanted to highlight how much the national debt rose during…
Both America’s political camps agree that TikTok is troubling
economist.com “A power to suppress foreign companies”. That might sound like a description of China’s economic strategy, but instead it is the charge that China’s Ministry of Foreign…
US consumer spending jumped in April and inflation accelerated
foxbusiness.com Consumers increased their spending sharply last month and inflation accelerated, fresh data showed Friday, as the Federal Reserve debates whether to raise interest rates in…
Strong US consumer spending, inflation readings put Fed in tough spot
investing.com U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up, which could prompt the…
Stock Forecasts
yahoo.com Stocks rose on Friday morning amid signs that the White House and congressional Republicans were close to a debt ceiling deal. The deal would reportedly raise the debt…
US and China trade chiefs meet over escalating chip wars
theregister.com The US and China appear to be trying to calm fraught relations over semiconductors as Chinese vendors reportedly drop orders for Micron memory components in line with…
Is a Debt Deal Nigh? The Market Sees Signs of Optimism
nytimes.com Stock and bond trading suggest that investors see an imminent deal to raise the debt limit and prevent the federal government from defaulting. Investors are holding their…
Retailers Stuck Between Consumer Spending Shift, Dogged Inventory Glut
forbes.com Home Depot’s recent announcement that it expects fiscal 2023 same-store sales to decline by as much as 5% — its first retreat since 2009 — may be a harbinger of things to…
US consumer spending surges in April; inflation heats up
reuters.com [1/2] A shopping cart is seen in a supermarket in Manhattan, New York City, U.S., June 10, 2022. REUTERS/Andrew Kelly/ WASHINGTON, May 26 (Reuters) - U.S. consumer spending…
Spending boom fuels surprise April inflation jump
thehill.com Price growth and consumer spending were hotter than expected in April, according to data released Friday by the Commerce Department, as the U.S. economy continued to show…
Markets are now betting the Fed will raise rates next month
aol.com Markets are now pricing in a better than 50% chance of an interest rate hike next month after a new report from the Commerce Department showed that consumer inflation…
Inflation rose 0.4% in April and 4.7% from a year ago, according to key gauge for the Fed
cnbc.com Inflation stayed stubbornly high in April, potentially reinforcing the chances that interest rates could stay higher for longer, according to a gauge released Friday that…
U.S. stocks are rising as debt ceiling deal comes into focus; Marvell pops
investing.com Investing.com -- U.S. stocks are rising as investors await the outcome of debt ceiling negotiations. At 9:50 ET (13:50 GMT), the was up 229 points or 0.7%, while the was up…
Fed 'pause' on rate hikes in doubt after strong US data
yahoo.com Federal Reserve policymakers got a dose of unexpectedly strong economic data on Friday that bolstered the case for further monetary policy tightening to slow the economy and…
Federal Reserve ‘pause’ on rate hikes in doubt after strong U.S. data
theglobeandmail.com Federal Reserve policy-makers got a dose of unexpectedly strong economic data on Friday that bolstered the case for further monetary policy tightening to slow the economy…
Federal Reserve's preferred inflation gauge accelerated in April
investing.com Investing.com -- The Federal Reserve's preferred consumer inflation measure unexpectedly accelerated in April, in a sign that inflation remains stubbornly elevated in the…
Instant view: Stubborn US April PCE inflation revives focus on June Fed hike
reuters.com U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up, which could see the…
Futures Rise Ahead Of Key Inflation Data
investors.com Dow Jones futures briefly reversed lower Friday morning after hot inflation data, with the release of critical consumer pricing data. Meanwhile, Ulta Beauty (ULTA) dived…
US consumer spending beats expectations in April; inflation picks up
yahoo.com WASHINGTON (Reuters - U.S. consumer spending increased more than expected in April, boosting the economy's growth prospects for the second quarter, and inflation picked up,…
U.S. consumer spending tops expectations in April; inflation picks up
theglobeandmail.com U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could see the…
Consumer Spending Rose More Than Expected in April
nytimes.com Americans’ income and spending both rose in April, a sign of economic resilience amid rising prices and warnings of a possible recession. Consumer spending increased 0.8…
An unexpected increase: Fed’s favorite inflation measure heated up last month
cnn.com The Federal Reserve’s preferred inflation gauge bounced higher in April, underscoring Fed Chair Jerome Powell’s warning that reining in price hikes “is likely to be bumpy,”…
Fed Inflation Gauge Jumps Higher In April, Lifting Rate Hike Bets
thestreet.com The Federal Reserve's preferred measure of U.S. inflation quickened again April, data indicated Friday, suggesting the central bank's effort to tame consumer price pressures…
Market Digest: CCEP, AZN, PANW
yahoo.com Stocks were mostly higher on Thursday, though sector performance was mixed. Tech stocks soared, driven by the rally in Nvidia, and Communication Services, Industrials, and…
Why US Stock Futures Signal A Modestly Higher Open Today
benzinga.com Stocks are striving hard to hold on to the momentum imparted by Nvidia Corp. NVDA-fueled rally on Thursday, with futures pointing to a modestly higher start on Friday. As…
Futures flat as debt ceiling talks drag on, inflation data in focus
reuters.com Wall Street index futures were little changed on Friday as investors refrained from making big bets amid ongoing U.S. debt ceiling talks that appear to have made some…
Stocks Slip Lower, Inflation In Focus, Costco Earnings, Fed Bank Lending, Debt Ceiling Deal
thestreet.com Five things you need to know before the market opens on Friday May 26: 1. -- Stock Futures Edge Lower As Traders Eye Debt Deal Reports Wall Street futures slipped lower…
US, China Ministers Hold ‘Candid’ Talks on Trade Concerns
asiafinancial.com Commerce ministers from the US and China met in Washington for talks described as “candid and substantive”. Commerce Secretary Gina Raimondo and her counterpart Wang Wentao…
The US economy grew faster in the first quarter than previously reported
cnn.com US economic growth in the first three months of the year was faster than previously estimated, the Commerce Department reported on Thursday. Gross domestic product, the…
U.S., China's top commerce officials meet to discuss trade concerns
cnbc.com The U.S. and China flags stand behind a microphone at the U.S. Embassy in Beijing on April 9, 2009. U.S. Secretary of Commerce Gina Raimondo sat down with her Chinese…
Costco Reports Sales Growth Slows as Consumers Reduce Discretionary Purchases
pymnts.com Costco’s comparable sales growth has slowed as consumers reduce their purchases of discretionary items. The membership warehouse club’s comp sales rose 0.3% year over year…
Biden administration working to finalize executive order on China investments
axios.com The Biden administration is working to finalize an executive order to restrict outbound investments in China’s defense industry, aiming to release it later this summer,…
First quarter GDP revised up as corporate profits give way
thehill.com First-quarter gross domestic product (GDP) was revised up on Thursday as the long-predicted recession following the blistering economic recovery from the pandemic once again…
Nasdaq jumps over 1% as Nvidia forecast sparks AI-driven rally
reuters.com The tech-heavy Nasdaq rose more than 1% on Thursday as Nvidia shares soared on a blowout forecast that also lifted other AI-related companies, while investors watched for…
Futures Mixed Of Jobless Claims, GDP; Nvidia Soars On AI Chip Demand
investors.com The Dow Jones Industrial Average fell Thursday, while tech stocks jumped after weekly jobless claims and revised first-quarter GDP estimates came out ahead of the market…
Fed Rate Hike Bets Leap As GDP Growth, Jobs Data Test Recession Consensus
thestreet.com The Federal Reserve may not be finished with its rate-hike cycle, interest rate trading data indicated Thursday, following a series of readings that suggest the U.S. economy…
More Americans apply for jobless benefits but labor market remains tight
go.com U.S. applications for jobless claims rose slightly last week but remain at healthy levels with companies reticent to let go of employees in a tight labor market. The number…
US economic growth for last quarter is revised up to a still-tepid 1.3% annual rate
thehill.com The U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories, the government said…
US weekly jobless claims rise moderately; first-quarter GDP growth revised up
reuters.com The number of Americans filing new claims for unemployment benefits rose moderately last week and the prior week's data was revised sharply lower, suggesting persistent…
US economic activity in the first three months of the year increased faster than previously estimated
cnn.com US economic growth in the first three months of the year was faster than previously estimated, the Commerce Department reported on Thursday. Gross domestic product, the…
House fails to override Biden veto of solar tariff resolution
politico.com House lawmakers failed to garner enough support Wednesday to override President Joe Biden’s veto of a measure that would have rescinded his two-year moratorium on tariffs…
Fed Minutes Show Powell Wants To Keep Rate Hike Options Open, But Path Remains Uncertain
thestreet.com Federal Reserve officials stressed the need to keep their options open on future rate hikes, minutes from the central bank's May policy meeting indicated Wednesday, but…
US mulls retaliation for Micron, Nvidia warns on chip wars
theregister.com The chip wars between Washington and Beijing show no sign of cooling off after a senior US politician insisted his country should retaliate for the blacklisting of Micron.…
High rates, low inventory keep home buyers sidelined
foxbusiness.com Higher interest rates are taking a toll on the major areas of the housing market. Overall interest in mortgages, refinancing and purchases all fell in the past week. Demand…
South Korea Asks US to Review China Curbs in Chips Act Funding
asiafinancial.com South Korea has asked Washington to review its criteria for new semiconductor subsidies, concerned over the impact of rules to limit chip investment in countries such as…
US filing: South Korea, Samsung, and SK Hynix ask the US to review its chip subsidy criteria, concerned over the impact on limiting chip investment in China
reuters.com South Korea has asked Washington to review its criteria for new semiconductor subsidies, concerned over the impact of rules to limit chip investment in countries such as…