economic news
Rand Paul Blocks Quick Passage of Ukraine Aid Bill
WASHINGTON—The Democratic and Republican leaders of the Senate tried to fast track a nearly $40 billion U.S. aid package to help Ukraine in its fight against Russia, only to be blocked by Republican Sen. Rand Paul of Kentucky, pushing passage of the bill into next week. Senate Majority Leader Chuck Schumer (D., N.Y.) and Minority …
Vladimir Putin’s 20-Year March to War in Ukraine—and How the West Mishandled It
In early November, months before the war began, CIA Director William Burns visited Moscow to deliver a warning: The U.S. believed Russian President Vladimir Putin was preparing to invade Ukraine. If he went ahead, he would face crippling sanctions from a united West. The American spy chief was connected on a secure Kremlin phone with …
Ukraine Proposes Neutral Status With Guarantees, and Zelensky Seeks More Western Help
Ukraine and Russia said they made progress in talks to end the war, with Kyiv presenting its proposal for a neutral status and international security guarantees as Moscow continued deadly strikes across Ukraine despite promises to focus its campaign on the eastern Donbas region. Though the latest round of negotiations, opened by Turkish President Recep …
U.S. to Sanction Companies Providing Technology for Russian Military, Intelligence Services
WASHINGTON—The Biden administration is preparing sanctions targeting Russian companies it says provides goods and services for the military and intelligence services, including dual-use components used in weapons proliferation, U.S. officials said. The Treasury Department sanctions, which could be announced as early as next week, come as the U.S. and allies continue to target a range …
More Republican States Cut $300 Benefits, as Jobless Claims Fall
More than three-quarters of Republican-led states plan to end an extra $300-a-week in federal jobless benefits early, as unemployment claims reached a new pandemic low, likely triggering a decrease in the number of benefits recipients this summer. The development came as initial unemployment claims through regular state programs dropped to 444,000 last week, the lowest …
U.S. Jobless Claims Fall to Another Pandemic Low
Jobless claims declined to a new pandemic low last week, in a sign hiring is primed to strengthen as workers return to the labor market. Unemployment claims fell to 473,000 last week from a revised 507,000 a week earlier, the Labor Department said Thursday. Claims are now at the lowest level since mid-March 2020, when …
Stocks fall across Europe and Nasdaq futures tumble 1%, as inflation concerns and selloff sentiment spread
Stocks fell across Europe on Tuesday as Nasdaq futures tumbled more than 1%, with rising U.S. inflation concerns spooking investor sentiment. The pan-European Stoxx 600 SXXP, -2.18% slipped 2%, after closing at a fresh record high on Monday. In London, the FTSE 100 UKX, -2.23% fell 2.3%, while the CAC 40 PX1, -2.13% in Paris …
U.S. Economy Grew Robustly in First Quarter
The U.S. economy expanded rapidly in the first quarter, growing at a 6.4% annual rate and extending what economists project will be a robust, consumer-led recovery from the pandemic this year. The jump in U.S. gross domestic product in the first three months of the year, reported by the Commerce Department on Thursday, put the …
Charting a bullish technical tilt, S&P 500 extends break atop 4,000 mark
Technically speaking, the major U.S. benchmarks have taken flight to start April, rising amid statistically unusual bullish momentum. In the process, the S&P 500 and Dow Jones Industrial Average have knifed to record highs, while the Nasdaq Composite has staged a potentially consequential trendline breakout. Before detailing the U.S. markets’ wider view, the S&P 500’s …
The Fed’s Next Test Is Breaking the Ice Over Policy Shift
WASHINGTON—As the economic recovery evolves from forecast to reality, the Federal Reserve will face a question that has vexed it in the past: how to signal its eventual tightening of the money spigot. The process of ending the Fed’s giant bond-buying program, and subsequently raising interest rates, will take years unless inflation unexpectedly surges. Its …