The U.S. Federal Reserve may start cutting interest rates before year’s end. That could make future trips abroad more expensive for the nation’s travelers. That’s due to how interest-rate policy affects the strength of the U.S. dollar. Here’s the basic idea: An environment of rising U.S. interest rates relative to those in other nations is generally “dollar positive,” said Jonathan Petersen, senior markets economist ...
You’ll soon have to pay more if you want to shop at Costco. The membership-based warehouse club said Wednesday that it will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. That’s an increase to $65 from $60 for annual memberships. Its higher-tier plan, called “Executive Membership,” will increase to $130 a year from $120. ...
The U.S. Federal Reserve may start cutting interest rates before year’s end. That could make future trips abroad more expensive for the nation’s travelers. That’s due to how interest-rate policy affects the strength of the U.S. dollar. Here’s the basic idea: An environment of rising U.S. interest rates relative to those in other nations is generally “dollar positive,” said Jonathan Petersen, senior markets economist ...
The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher. The broad market index jumped 1.02%, closing at 5,633.91, and notching a seventh straight day of gains. The Nasdaq Composite advanced 1.18%, also hitting an all-time high and ending at 18,647.45. It was the 37th record close ...
Longtime investor Bill Gross believes Elon Musk’s Tesla is behaving like a speculative play among retail investors. “Tesla acting like a meme stock — sagging fundamentals, straight up price action,” the former chief investment officer and co-founder of Pimco said in a post Tuesday afternoon on X. “But then there seems to be a new meme stock every other day now. Most are pump ...
Walmart said Wednesday that it will open five automated distribution centers for fresh food across the country, as the retailer chases efficiency and its online grocery business grows. The discounter’s new facilities are roughly 700,000 square feet on average. Chilled and frozen areas have automation that stores and retrieves perishable items, such as strawberries and frozen chicken nuggets that are later ...
Millions flock to Barcelona, Spain, every year to enjoy a sweet taste of idyllic European life. But over the weekend, thousands of people marched through the streets and sprayed visitors with water guns in outrage over mass tourism. Protesters clapped and chanted “tourists go home!” and carried signs with anti-tourist slogans, arguing that the flood of visitors has driven up living ...
Side hustlers are hustling a little less but making more when they do. About 36% of U.S. adults say they make extra money from a side job beyond their main source of income, according to a survey the consumer finance platform Bankrate released Wednesday. That’s down from 39% last year, when side-hustlers were earning a bit less. The average side ...
Federal Reserve Chair Jerome Powell on Tuesday expressed concern that holding interest rates too high for too long could jeopardize economic growth. Setting the stage for a two-day appearance on Capitol Hill this week, the central bank leader said the economy remains strong as does the labor market, despite some recent cooling. Powell cited some easing in inflation, which he said policymakers ...
Europe’s newest rocket Ariane 6 has launched from French Guiana on the northern coast of South America. If the full launch is a success, it will give the European Space Agency (ESA) the ability to launch satellites again by itself. Ariane 6 took off from Europe’s Spaceport in French Guiana, just after 8pm BST after having a four-hour launch window ...