Retail sales in the US increased an unexpected 0.3 percent in October as falling gas prices freed up discretionary spending, according to the Commerce Department. The strong retail sales report left retailers optimistic about the crucial holiday shopping season.
The economy added 214,000 jobs in October, ticking the unemployment rate down to 5.8 percent – a new six-year low. Many of the supporting figures in the October jobs report, including a dip in long-term unemployment and a small increase in labor participation, were also cause for optimism.
The Federal Reserve announced the end of its landmark quantitative easing program Wednesday, and investors found the Fed's overall policy statement more hawkish than expected. Here are the highlights of today's Federal Reserve policy statement.
Home prices in 20 US cities rose 5.6 percent year-over-year in August, according to Case-Shiller's monthly home price index. The price slowdown is contributing to a housing market that should look more and more appetizing to prospective buyers, but are most in a position to take advantage?
New home sales increased just 0.2 percent in September, and a big increase for August was revised considerably downward. Despite the slow growth, September marked the highest level for new home sales in six years.
Starbucks will release its Chestnut Praline Latte for the holidays nationwide this year. The Chestnut Praline Latte will join the Gingerbread Latte and Peppermint Mocha in Starbucks' ever-growing lineup of sweet holiday drinks.
Social Security payments for 64 million retired American workers will increase 1.7 percent in 2015. That means the typical retiree will get an extra $22 per month, receiving a $1,328 average monthly Social Security payment and $15,936 annually.
Existing home sales rose 2.4 percent to an annualized pace of 5.17 million in September, according to the National Association of Realtors. In a hopeful sign for the housing market, the existing home sales report showed families are stepping up purchases, while the share of investors is trending downward.
Retirement income isn't adequate in 49 of 50 states, according to a recent survey, adding to a rash of conflicting information about how financially ready (or not) Americans are for their retirement years. So are we in the midst of a retirement crisis? Or is all the hand-wringing overblown?
Retail sales fell 0.3 percent in September, stoking worries about the strength of the economy in the early run-up to the ever-important holiday shopping season. The disappointing retail sales report once again raised questions about American consumers' spending power in the face of stagnant wage growth.
US job openings reached 4.84 million in August, according to the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). It was the highest number of openings since 2001, the year the government began tracking JOLTS data.
The US economy added 248,000 jobs in September and pushed the unemployment rate down to 5.9 percent in an unexpectedly strong report. But despite steady improvements on the unemployment front, low labor force participation and slow wage growth remain a worry for the economy going forward.
Netflix has signed a deal with comedian Adam Sandler's production company to produce four upcoming films that will bypass movie theaters and premiere exclusively on the streaming service's website. If others follow the lead of Adam Sandler and Netflix, it could mean huge changes for the slumping movie industry.