The Latest Breaking News from James Knightley

S&P 500 index of major US companies registers near 34% gain on year ago amid expectation of interest rate cuts

CPI revisions on Friday didn't alter the recent sub-2% inflation trend, dealing a setback to Federal Reserve rate-cut expectations.

As the U.S. housing market continues to cool, a growing number of forecasters say homeowners could soon experience significant price declines. These analysts look at the record run-up in home prices during the COVID pandemic and say a drop of 20% or more looms in the near future.

Odds are now close to even that the U.S. economy will slip into a recession within the next year as persistent and rapid inflation emboldens the Federal Reserve to pursue larger interest-rate hikes.