Wall Street opens higher as economic data allays growth worries

Slideshow ( 2 images )(Reuters) – U.S. stock indexes opened higher on Friday as data showed strength in consumer spending and signs of peaking inflation, providing relief to investors worried about a sharp slowdown in economic growth. The Dow Jones Industrial Average rose 97.90 points, or 0.30%, at the open to 32,735.09. The S&P 500 opened higher by 19.59 points, […]

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Futures inch up ahead of economic data, Gap slumps on outlook cut

(Reuters) – U.S. stock index futures edged higher on Friday ahead of data which will likely offer clues on U.S. consumer spending strength against the backdrop of red-hot inflation, while shares of Gap slumped after the retailer slashed its annual forecast.FILE PHOTO: The sign for a Gap store is seen on 5th avenue in midtown Manhattan in New York June […]

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Most May FOMC participants backed 50 bp hikes in June and July

NEW YORK (Reuters) – All participants at the Federal Reserve’s May 3-4 policy meeting backed a half-percentage-point rate increase to combat inflation they agreed had become a key threat to the economy’s performance and was at risk of racing higher without central bank action, newly released minutes of the session showed.FILE PHOTO: The Federal Reserve building is seen before the […]

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Argentine bills strain wallets (literally) amid inflation drain

BUENOS AIRES (Reuters) – Argentine peso bills, devalued by years of inflation now soaring near 60%, are starting to cause a literal strain on wallets – with the largest banknote in circulation worth under $5 in commonly used exchange markets.A costumer pays in cash in grocery store, as Argentine peso bill continues to devalue by years of inflation, meaning people […]

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Snap says economy deteriorated fast, slashes forecast, stock plummets

(Reuters) -Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off.Snapchat app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/IllustrationSince late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As a result, we believe […]

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China lockdowns, war risk derailing global jobs recovery: ILO

Slideshow ( 2 images )BERLIN (Reuters) – The global job market is at risk of doing a U-turn on its path towards recovering to pre-COVID-19 levels as lockdowns in China and the war in Ukraine weigh on economies, the International Labour Organization (ILO) said in a report on Monday. The U.N. agency estimated that there was the equivalent of 112 […]

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Dutch asteroid mining startup considering Denver for headquarters

The Colorado School of Mines in the fall of 2018 became the first university in the nation to offer advanced degrees in space resources, and that focus looks like it is paying off by drawing the attention of firms in the emerging field. Karman+, a space mining startup based in the Netherlands, is looking to plant its flag in either […]

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