Business News

(NEW YORK) -- Prices for home appliances, cars and auto parts could be impacted by President Donald Trump’s decision overnight to end trade talks between the U.S. and Canada, some trade experts told ABC News.Trump said he's terminating trade negotiations with Canada in response to a negative TV advertisement about tariffs rolled out earlier this month by the Canadian province of Ontario."TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND […]

(NEW YORK) -- Fears of an artificial intelligence bubble have rattled the stock market in recent weeks and set off concern among critics about a wider risk to the U.S. economy.A surge of AI spending accounted for roughly two-thirds of gross domestic product growth over the first half of 2025, JPMorgan Asset Management found, outpacing the contribution made by hundreds of millions of U.S. consumers. Many of the nation’s largest […]

(NEW YORK) -- Online shoppers set a record high on Thanksgiving, paving the way for gangbusters performance on Black Friday, Adobe data showed.Digital spending on Thanksgiving jumped 5% from a year earlier, totaling $6.4 billion and exceeding Adobe’s expectations, the firm said.The company also expects Black Friday shoppers to set a new record, outpacing last year's total by more than 8%.Adobe attributed the strong performance on Thanksgiving to better-than-anticipated discounts, […]

Stock image of a social security card alongside US dollars. (Tetra Images/STOCK PHOTO/Getty Images) (NEW YORK) -- Social security benefits will rise 2.8% starting in January, amounting to an additional $56 per month for 75 million recipients, the Social Security Administration (SSA) said on Friday.The cost-of-living adjustment for 2026, known as COLA, came in slightly higher than the prior year's hike of 2.5%. Over the past decade, the average COLA […]

(NEW YORK) -- Consumer prices rose 3% in September compared to a year ago, extending a monthslong uptick that has sent inflation to its highest level since January, government data on Friday showed. The reading came in lower than economists' expectations.The fresh data marked a slight increase from a 2.9% year-over-year increase recorded a month prior. An acceleration of price increases over recent months has coincided with a flurry of tariffs issued […]

(NEW YORK) -- Car buyers may face elevated prices and a shortage of some vehicles due to a supply chain snarled by tariffs and challenges accessing crucial materials, some industry experts told ABC News.A shortage of aluminum halted production at plants operated by Jeep and Ford earlier this month, pausing the output of some Jeep SUVs and Ford trucks, the Wall Street Journal reported. Meanwhile, a trade spat between the […]

(NEW YORK) -- Gas prices stand close to their lowest level in four years as tens of millions of people prepare to travel over the Thanksgiving holiday.The national average for a gallon of gas on Monday tallied at $3.07, which amounts to a slight uptick from a year ago, AAA data showed. But gas prices for each of the last two years have come in below Thanksgiving Day gas prices […]

(NEW YORK) -- Blockbuster earnings from chip giant Nvidia this week appeared to rebuke concerns about an artificial-intelligence bubble, briefly ending a days-long slump in the stock market."It's fair to say that Nvidia's results have completely changed the market mood and pushed out any bubble fears for another day," said Jim Reid, a research strategist at Deutsche Bank, in a memo to clients early Thursday morning, just hours after the […]

(NEW YORK) -- Stocks ticked downward in midday trading on Thursday, wiping out a rally earlier in the day driven by blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report.The Dow Jones Industrial Average fell about 60 points, or 0.1%, while the S&P 500 declined 0.2%. The tech-heavy Nasdaq fell 0.3%.Those returns marked a reversal from highs earlier in the day. Previously, the Dow had risen 1.2%, while the S&P 500 […]