Business News

(WASHINGTON) -- Fresh jobs data on Friday showed a continued hiring slowdown in the first such release since a dismal jobs report last month prompted President Donald Trump to fire the top official tasked with compiling labor statistics. The reading fell well short of economists' expectations.The U.S. added 22,000 jobs in August, according to data from the U.S. Bureau of Labor Statistics. That figure showed a sharp decrease from 79,000 jobs added in the […]

(NEW YORK) -- The price of gold topped $3,500 per ounce for the first time ever on Tuesday, reaching toward new record highs as trading stretched into midday.Gold prices have soared 35% so far this year, far outpacing a 9% gain in the S&P 500. Over that period, the Dow Jones Industrial Average has jumped 6% and the tech-heavy Nasdaq has climbed 10%.The rush toward gold reflects heightened economic uncertainty, experts said. […]

(WASHINGTON) -- The government shutdown halted the release of key economic data, choking off the flow of information as some experts warn the economy may be slipping toward a recession, some economists told ABC News.A federal agency postponed the release of a monthly jobs report on Friday, leaving observers in the dark about the status of a sharp hiring slowdown. If the government shutdown stretches into next week, fresh inflation […]

(WASHINGTON) -- A tariff loophole for low-cost shipments helped fuel an explosion of U.S. consumers purchasing shoes, sunglasses and a host of other items directly from sellers overseas. The Trump administration closed that exemption on Friday, bringing the era of duty-free online buying to an end.President Donald Trump closed what's known as the "de minimis" loophole, which allowed for duty-free import of goods valued at less than $800. Now, such […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks closed higher on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse.The Dow Jones Industrial Average jumped 43 points, or 0.09%, while the S&P 500 climbed 0.34%. The tech-heavy Nasdaq increased 0.42%.The Dow and S&P 500 each closed at record highs on Wednesday.The uptick extended a period of resilient performance for markets, which shrugged […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks ticked higher in midday trading on Wednesday, just hours after a government shutdown began, defying fears among some observers about the economic risk posed by a potentially prolonged impasse.The Dow Jones Industrial Average jumped 71 points, or 0.15%, while the S&P 500 jumped 0.1%. The tech-heavy Nasdaq increased 0.1%.The uptick extended a period of resilient performance for markets, which shrugged off the looming impasse a day earlier. Each of […]

Matteo Colombo/Getty Images (NEW YORK) -- Stocks dropped in early trading on Wednesday, just hours after a government shutdown began, shuttering some government services and complicating a delicate moment for the nation's economy.The Dow Jones Industrial Average fell 87 points, or 0.1%, while the S&P 500 slid 0.4%. The tech-heavy Nasdaq declined 0.6%.The selloff marked the first sign of shutdown-related strain for markets, which shrugged off the looming impasse a […]