News

Donald Trump's recent call to exempt Social Security benefits from income taxes is expected to exhaust the reserve funds for both Social Security and Medicare faster than anticipated.

Donald Trump's recent call to exempt Social Security benefits from income taxes is expected to exhaust the reserve funds for both Social Security and Medicare faster than anticipated.

(Reuters) -Oil prices rose on Thursday, supported by optimism that potential U.S. interest rate cuts will boost economic activity and fuel consumption though concerns over slower global demand curbed gains. Both benchmarks fell more than 1% on Wednesday after U.S. crude inventories rose unexpectedly and on easing worries about a wider Middle East conflict. U.S. consumer prices rose moderately in July and the annual increase in inflation slowed to below 3% for the first time in nearly 3-1/2 years, reinforcing expectations the Federal Reserve will cut interest rates next month.

(Bloomberg) -- Palm oil advanced for a second day thanks to strong demand from the world’s biggest buyer, India, and a weaker Malaysian currency, which made the tropical oil more attractive for overseas buyers.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, Fi

(Bloomberg) -- Equities in Japan and China advanced, following gains on Wall Street, as investors cheered a string of encouraging economic data points from the world’s three largest economies.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, Financial WoesJapan’

SINGAPORE (Reuters) -The dollar was soft on Thursday, with the euro perched near an eight-month high after data showed U.S. inflation was slowing, underpinning wagers that the Federal Reserve could lower borrowing costs next month. Bouts of intervention from Tokyo early last month and then a surprise rate hike from the Bank of Japan at the end of July wrong-footed investors who bailed out of popular carry trade, lifting the yen. In the U.S., data on Wednesday showed the consumer price index rose moderately, in line with expectations, and the annual increase in inflation slowed to below 3% for the first time since early 2021.