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  • Feb 07, 2025

NYC-Area Poultry Markets Shut Temporarily on Bird Flu Concern

(Bloomberg) -- New York Governor Kathy Hochul temporarily closed all live poultry markets in New York City, Westchester County and Long Island after seven cases of avian flu, including at least five in the city, were identified by state health inspectors.Most Read from BloombergNice Airport, If You Can Get to It: No Subway, No Highway, No BridgeCitadel to Leave Namesake Chicago Tower as Employees RelocateSin puente y sin metro: el nuevo aeropuerto de Lima es una debacleNYC Sees Pedestrian Traffi

  • Feb 07, 2025

Fed Monetary Policy Report flags solid economy, elevated markets

(Reuters) -The Federal Reserve's latest Monetary Policy Report to Congress, released on Friday, was upbeat about the state of the economy but warned about some concerning aspects of the financial system. The report, which comes ahead of next week's testimony before Congress by Fed Chair Jerome Powell, said central bank officials remain committed to getting inflation back to 2% and noted that when it comes to interest rate policy changes officials “will carefully assess incoming data, the evolving outlook, and the balance of risks.” The release described the overall economy as doing well amid a solid and better-balanced job market and declining inflation pressures.

  • Feb 07, 2025

Traders now see just one Fed rate cut this year

The market-based probability of a June interest-rate cut dropped to barely above 50% after the University of Michigan Surveys of Consumers showed households think inflation a year from now will be 4.3%, a full percentage point higher than they thought it would be last month, and an earlier report from the Labor Department showing the unemployment rate was 4% in January. Before the reports traders had seen about a 63% chance of a June rate cut.

  • Feb 07, 2025

Stock market today: Wall Street drifts lower as U.S. consumers get more worried about inflation

U.S. stock indexes are drifting lower on Friday after a discouraging report suggested U.S. consumers are bracing for higher inflation over the next year. The S&P 500 was 0.3% lower in morning trading, though it remains on track for a modest gain for the week. The action was stronger in the bond market, where Treasury yields climbed after a report suggested sentiment is unexpectedly souring among U.S. consumers.

  • Feb 07, 2025

US consumer sentiment drops as inflation expectations surge

The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index dropped to 67.8 from January's final reading of 71.1, which was also the consensus expectation among economists polled by Reuters. The drop occurred across age and wealth groups and weakened regardless of political affiliations, survey Director Joanne Hsu said in a statement.

  • Feb 07, 2025

Inflation data to test market as tariff talk swirls

NEW YORK (Reuters) -A fresh look at the pace of inflation will test the U.S. stock market in the coming week, as investors worry that President Donald Trump's tariff plans are endangering Wall Street's hopes for interest rate cuts this year. The benchmark S&P 500 remained about 1% below record-high levels, even as stocks were whipsawed this week by headlines over Trump's plans to impose tariffs on the largest U.S. trading partners. Tariffs are widely seen as inflationary, complicating the picture for the Federal Reserve.

  • Feb 07, 2025

Wall St falls on expectations of Fed caution after jobs data

Wall Street's main indexes fell on Friday after the latest jobs data raised the prospects of a more cautious Federal Reserve, while a survey showed unexpected weakness in U.S. consumer sentiment. A Labor Department report showed the U.S. economy added 143,000 jobs in January, compared with a rise of 170,000 expected by economists. The unemployment rate stood at 4%, compared with the expectations of 4.1%, while the U.S. economy created 598,000 fewer jobs in the 12 months through March than previously estimated.

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