2024 ‘Gingerbread Index’ shows egg prices are up over 97% as inflation hits holiday meals
Prices are higher, but not by a tremendous amount.
News
Retail sales rose at healthy pace last month in latest sign of US economy's health
Retail sales rose 0.7% in November, the Commerce Department said Tuesday, a solid increase and higher than October's 0.5% gain. Sales jumped 2.6% at auto dealers, driving most of the gain. The boost in spending underscores that the economy is still growing at a healthy pace even with higher interest rates, a trend that could cause the Federal Reserve to lower borrowing costs more slowly next year than they have previously signaled.
US ports brace for perfect storm as tariff threats scramble supply chains
Logistics firms say lessons learned from the US-China trade war in 2018 and the changes implemented since may help cushion the blow if Trump makes good on promises to hike tariffs on US imports.
A former Fed president says she would not cut interest rates this week, but she expects the central bank will anyway
The Federal Reserve is expected to cut its key interest rate by 25 basis points on Wednesday.
Wall Street ends lower, oil dips as Fed looms
U.S. stocks closed down on Tuesday and crude prices fell as investors parsed economic data and girded themselves for a series of central bank decisions, including an expected rate cut from the Federal Reserve. Bitcoin forged new record highs and benchmark U.S. Treasury yields steadied ahead of what is expected to be a "hawkish cut" from the U.S. central bank. Aside from the Fed, central banks Japan, Britain, Sweden and Norway are all slated to meet this week.
Stocks fall, Dow drops for 9th straight session with Fed decision due
NEW YORK (Reuters) -U.S. stocks retreated on Tuesday and the Dow dropped for a ninth straight session, as investors exercised caution ahead of the Federal Reserve's last policy announcement of the year after economic data indicated consumer spending remained solid. U.S. retail sales increased more than expected in November, buoyed in part by an acceleration in motor vehicle purchases, consistent with strong underlying momentum in a resilient economy. Investors were largely focused on the Fed's policy announcement on Wednesday, almost completely pricing in an interest rate cut of 25 basis points.
Oil prices ease 1% to one-week low on weak Chinese, German economic data
NEW YORK (Reuters) -Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates. Brent futures fell 72 cents, or 1.0%, to settle at $73.19 a barrel, while U.S. West Texas Intermediate crude slipped 63 cents, or 0.9%, to settle at $70.08. In China, the world's second-biggest economy, industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more U.S. trade tariffs once President-elect Donald Trump takes office for a second time.