Business News

(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 […]

(NEW YORK) -- Stocks rallied in early trading on Thursday, just hours after blockbuster earnings from chip giant Nvidia and a stronger-than-expected jobs report.The Dow Jones Industrial Average jumped nearly 600 points, or 1.2%, while the S&P 500 climbed 1.8%. The tech-heavy Nasdaq soared 2.5%.Shares of Nvidia, the $4.7 trillion juggernaut behind many of the chips fueling artificial-intelligence products, surged more than 4%.A stock market selloff over recent days underscored the uncertainty looming over the […]

(NEW YORK) -- Employers hired far more workers than expected in September, defying a sharp slowdown over the summer that appeared to cool off the labor market.The U.S. added 119,000 jobs in September, according to data from the U.S. Bureau of Labor Statistics. That figure marked an acceleration from 22,000 jobs added in the previous month, and it exceeded an average of nearly 100,000 jobs added per month over the […]

(NEW YORK) -- A long-awaited jobs report to be released on Thursday will offer the latest look at the health of the labor market at a fraught moment for the U.S. economy.Hiring slowed sharply over the summer, before a government shutdown paused the release of gold-standard federal data for weeks on end. A stock market selloff over recent days underscored the uncertainty looming over the economy as some investors warn […]

(NEW YORK) -- Chip giant Nvidia exceeded Wall Street expectations for revenue over a recent three-month period, the company said on Wednesday, rebuking fears of an AI bubble that have hammered markets in recent days.The California-based company recorded $57 billion in sales over three months ending in October, which beat analyst expectations of $54.9 billion. The jump in revenue marked 62% growth compared to the same quarter a year earlier.Analysts […]