cratering on the president's remarks from the White House," economist Chris Rupkey of MUFG Union Bank wrote

U.S. exports rose 18% to more than$ 2.5 trillion.... That money moved almost overnight into goods like cellphones, yard equipment or furniture.... And generous government relief checks gave them the financial wherewithal and confidence to do so with gusto. Imported goods soared 21% last year to$ 2.9 trillion....

Explaining its rationale for lowering its credit rating on the United States for the first time since 1917, Moody’s cited ballooning US debt levels and Washington’s intransigence over budget deficit solutions.US stocks slipped lower Monday morning: The Dow was down by 277 points, or 0.6%.... The broader SP 500 lost 1%, and the tech-heavy Nasdaq was 1.5% lower at the opening bell. Investors sold off US Treasuries.... Meanwhile, gold, a traditional safe-haven, rose 1.6% to$ 3, 236 a troy ounce.

Americans are feeling a hangover from their tariff-fueled buying frenzy early in the spring. Retail sales fell by 0.9% in May from the prior month, the Commerce Department said Tuesday, down sharply from April’s downwardly revised 0.1% decline.... Excluding those purchases, retail sales were down a more modest 0.3%. Early in the spring, Americans rushed to front-load purchases of big-ticket items, especially cars, to beat President Donald Trump’s stiff tariffs.... If the US economy begins to s

For decades, the free flow of trade across much of the world allowed the richest nations to enjoy easy access to low-priced goods and supplies.... It meant solid economies and stable markets. And for households and businesses, especially in the United States and Europe, it meant an entire generation of ultra-low inflation. Now, Russia’s invasion of Ukraine has delivered a devastating blow to that system.... With Russian missiles killing Ukrainian civilians, it seems almost quaint to recall tha

The increase was the largest since last July.... 13. The bureau's Small Business Pulse Survey released on Thursday also showed an increase in establishments reporting large negative impacts from the pandemic.... It was led by accommodation and food services businesses, with big rises also in education as well as arts entertainment and recreation. The labor market setback is unlikely to stop the Federal Reserve from raising interest rates in March to tackle high inflation....

NEW YORK: The United States retail sales rose 8.5% during this year’s holiday shopping season from Nov 1 to Dec 24, powered by soaring ecommerce sales, a report by Mastercard Inc says.US e-commerce sales jumped 11% in this year’s holiday shopping season, according to Mastercard SpendingPulse report, yet again underscoring the Covid-19 pandemic’s role in transforming customers’ shopping habits. Shoppers also rushed to stores amid supply chain concerns as Covid-19 cases surged, sending sales at ph

“ Trade tariff uncertainty is disrupting the housing market… The only certainty is that this is not the time to build or buy a new home.” Housing starts are often seen as a key indicator of the overall health and direction of the US economy.... While those tariffs are currently on pause, a baseline 10% tariff on most imports is still in place as the US works to negotiate new trade agreements.... So far, one deal has been reached with the United Kingdom. Last month, trade with China, one of Ame

Fed Chair Jerome H. Powell said Wednesday that additional half-point rate hikes were expected to be on the table at the central bank’s next two policy meetings, in mid-June and late July.... But he added that the picture could change quickly.... Now, the Fed appears determined to normalize monetary policy as fast as possible....